MidWestOne Financial Group Inc

MidWestOne Financial — Q3 2025 Earnings Presentation

18 slides from MidWestOne Financial's earnings presentation, Oct 23, 2025

  1. Slide 1: Third Quarter 2025 Earnings Release Supplement

    Third Quarter 2025 Earnings Release Supplement

  2. Slide 2: Forward Looking Statements & Non-GAAP Measures

    2 Forward Looking Statements & Non-GAAP Measures This presentation contains certain “forward-looking statements” within the meaning of such term in the Private Securities Litigation Reform Act of 1995. We and our representatives may, from time to time, make written or oral statements that are “forwa

  3. Slide 3: 3Q25 Financial Highlights

    3 Financial Highlights Total assets $ 6,249.8 1.4 % (4.6) % Loans held for investment, net of unearned income 4,419.6 0.9 2.1 Total deposits 5,479.0 1.7 2.1 Balance Sheet Equity to assets ratio 9.70 % 14 bps 112 bps Tangible common equity ratio(2) 8.36 17 114 CET1 risk-based capital ratio 11.10 8 11

  4. Slide 4: MOFG's Attractive and Growing Core Markets

    4 MOFG's Attractive and Growing Core Markets Rural core deposit franchise that supports growing metropolitan markets 22 Banking Offices $1.7B Deposits $891M Gross Loans $72K Median HHI 9.2% Proj. '25-'30 HHI△ 18 Banking Offices $1.9B Deposits $1.5B Gross Loans $78K Median HHI 9.0% Proj. '25-'30 HHI△

  5. Slide 5: MOFG's Five Strategic Pillars to Deliver Improved Results

    5 Company Focus MOFG's Five Strategic Pillars to Deliver Improved Results Exceptional Customer and Employee Engagement Strong Core Local Banking Model Sophisticated Commercial Banking and Wealth Management Specialty Business Lines Improving Operational Effectiveness and Efficiency • Top WorkplaceTM

  6. Slide 6: Diversified and Granular Loan Portfolio

    6 Diversified and Granular Loan Portfolio Loans Held for Investment Agricultural, 3% C&I, 29% Construction & Development, 6% Farmland, 4% Multifamily, 10% CRE-Other, 32% Residential Real Estate, 15% Consumer, 1% $4.42 billion 5.85% Yield(1) <$857K Avg. Commercial Loan Size(2) Financial Information a

  7. Slide 7: Credit Risk Profile

    7 Credit Risk Profile $ m ill io ns Nonperforming Assets $25.5 $25.2 $20.9 $40.6 $33.9 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 $ m ill io ns Net Charge-Offs $1.7 $0.7 $3.1 $0.2 $15.3 3Q24 4Q24 1Q25 2Q25 3Q25 Credit Quality Metrics $ in millions 3Q24 4Q24 1Q25 2Q25 3Q25 Nonperforming asset

  8. Slide 8: Commercial Real Estate Portfolio

    8 Commercial Real Estate Non-Owner Occupied (NOO) CRE Office September 30, 2025 $ in millions 3Q25 2Q25 3Q24 Construction & Development $ 256.5 $ 280.9 $ 386.9 Farmland 194.9 186.5 182.2 Multifamily 451.0 438.2 409.5 CRE Other: NOO CRE Office 111.4 126.9 154.7 OO CRE Office 69.1 72.3 84.6 Industrial

  9. Slide 9: Focusing on Growth in Wealth Management

    9 Focusing on Growth in Wealth Management $2.74 $2.73 $3.01 $3.15 $3.43 2021 2022 2023 2024 2025 $— $1.00 $2.00 $3.00 $4.00 Wealth Management Revenue ($MM)Wealth Management Assets Under Administration ($B) Private Wealth • Added a private wealth team to the east side of the Twin Cities; we now offer

  10. Slide 10: MidWestOne Financial Group, Inc.

    = A q MidWestOne- FINANCIAL GROUP, INC. 10

  11. Slide 11: Balance Sheet

    11 Balance Sheet 3Q25 vs. 2Q25 3Q25 vs. 3Q24 Period end balances, $ in millions 3Q25 $ Change % Change $ Change % Change Loans $4,419.6 $38.4 1 % $90.8 2 % Investment securities $1,175.7 $(59.3) (5) % $(447.4) (28) % Interest earning deposits in banks $205.1 $114.4 126 % $75.4 58 % Deposits $5,479.0

  12. Slide 12: Balance Sheet - Debt Securities Portfolio

    12 Balance Sheet - Debt Securities Portfolio Total Securities Yield 3.6 Year Duration 4.28% Yield (3Q25) U.S. Treasury, 2% U.S. Agency, 2% Municipals, 11% MBS, 26% CLO, 1% CMO, 49% Corporate, 9% $1.18 billion 2.37% 4.08% 4.38% 4.35% 4.28% 3Q24 4Q24 1Q25 2Q25 3Q25 Portfolio Mix

  13. Slide 13: Income Statement

    13 Income Statement % Change 3Q25 vs. $ in millions 3Q25 2Q25 3Q24 2Q25 3Q24 Net interest income $51.0 $50.0 $37.5 2 % 36 % Noninterest income (loss) 10.3 10.2 (130.4) 1 % (108) % Total revenue 61.3 60.2 (92.9) 2 % (166) % Noninterest expense 37.6 35.8 35.8 5 % 5 % Pre-tax pre-provision net revenue(

  14. Slide 14: Non-GAAP Financial Measures

    14 Non-GAAP Financial Measures

  15. Slide 15: Non-GAAP Financial Measures: Tangible Common Equity

    15 Non-GAAP Financial Measures Tangible Common Equity / Tangible Book Value per Share / Tangible Common Equity Ratio September 30, 2024 June 30, 2025 September 30, 2025 dollars in thousands Total shareholders' equity $ 562,238 $ 589,040 $ 606,056 Intangible assets, net (96,257) (92,147) (91,004) Tan

  16. Slide 16: Non-GAAP Financial Measures: Efficiency Ratio

    16 Non-GAAP Financial Measures Efficiency Ratio For the Three Months Ended September 30, 2024 June 30, 2025 September 30, 2025 dollars in thousands Total noninterest expense $ 35,798 $ 35,767 $ 37,637 Amortization of intangibles (1,470) (1,252) (1,143) Merger-related expenses (133) — (132) Nonintere

  17. Slide 17: Non-GAAP Financial Measures: Return on Average Tangible Equity

    17 Non-GAAP Financial Measures Return on Average Tangible Equity For the Three Months Ended September 30, 2024 June 30, 2025 September 30, 2025 dollars in thousands Net income (loss) $ (95,707) $ 9,980 $ 17,015 Intangible amortization, net of tax (1) 1,090 931 850 Tangible net income (loss) $ (94,61

  18. Slide 18: Non-GAAP Financial Measures: Adjusted Earnings

    18 Non-GAAP Financial Measures Adjusted Earnings / Adjusted Earnings Per Share For the Three Months Ended September 30, 2024 June 30, 2025 September 30, 2025 dollars in thousands Net income (loss) $ (95,707) $ 9,980 $ 17,015 Less: Investment securities gains (losses), net of tax(1) (103,988) — — Les

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