MidWestOne Financial Group Inc
MidWestOne Financial — Q2 2025 Earnings Presentation
18 slides from MidWestOne Financial's earnings presentation, Jul 25, 2025
Slide 1: Second Quarter 2025 Earnings Conference Call
Second Quarter 2025 Earnings Conference Call July 25, 2025
Slide 2: Forward Looking Statements & Non-GAAP Measures
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 “forward
Slide 3: Financial Highlights
Financial Highlights 2Q25 Financial Highlights(2) Change vs. Dollars in millions, except per share amounts 2Q25 1Q25 2Q24 Total assets $ 6,160.8 (1.5) % (6.4) % Balance Loans held for investment, net of unearned income 4,381.2 1.8 2.2 Sheet Total deposits 5,388.1 (1.8) (0.4) Equity to assets ratio 9
Slide 4: Company Focus
Company Focus MOFG's Five Strategic Pillars to Deliver Improved Results • Top WorkplaceTM award-winning culture since 2013(1) Exceptional Customer and Employee Engagement • Sharpened results focus with voice of customer and financial metrics driving employee reward and recognition • Larger bank offe
Slide 5: 2025 Strategic Plan Updates
2025 Strategic Plan Updates ☑ ☑ ☑ ☑ ☑ Strong Core Local Talent Specialty Business Commercial Banking Operational Banking Model Transformation Lines & Wealth Efficiency Opened our Jordan Hired senior CRE Lift-out of an Annualized Recent investments Creek branch in West Bankers in the Twin established
Slide 6: Diversified and Granular Loan Portfolio
Diversified and Granular Loan Portfolio Loans Held for Investment Consumer, 1% Agricultural, 3% Residential Real Estate, 15% C&I, 28% $4.38 billion CRE-Other, 32% Construction & Development, 7% Farmland, 4% Multifamily, 10% <$821K 5.81% Yield(1) Avg. Commercial Loan Size(2) Financial Information as
Slide 7: Credit Risk Profile
Credit Risk Profile Nonperforming Assets Credit Quality Metrics $ in millions 2Q24 3Q24 4Q24 1Q25 2Q25 Nonperforming assets ratio 0.47 % 0.39 % 0.40 % 0.33 % 0.66 % Classified loans ratio 3.48 % 3.11 % 2.57 % 2.65 % 2.89 % $40.6 Criticized loans ratio 6.89 % 7.21 % 6.01 % 5.47 % 5.15 % Net charge-of
Slide 8: Commercial Real Estate
Commercial Real Estate Non-Owner Occupied (NOO) CRE Office Portfolio Highlights June 30, 2025 June 30, 2025 Regulatory Loan count: 2 CRE Concentration (% of Bank Total Capital): 2Q25 1Q25 2Q24 Threshold Loan total: $11.6 million Construction, land development and other land Classified (accrual), 9%
Slide 9: Focusing on Growth in Wealth Management
Focusing on Growth in Wealth Management Wealth Management Assets Under Administration $4.00 $3.28 Private Banking $3.01 $3.15 $2.74 $2.73 • Designed wealth management lending products to attract high net- worth business owners • Leveraging Private Bankers in key prospecting roles to improve $2.00 pi
Slide 10: Financial Performance
Financial Performance HA MidWestOne FINANCIAL GROUP, INC. 10
Slide 11: Balance Sheet
Balance Sheet 2Q25 vs. 1Q25 2Q25 vs. 2Q24 Period end balances, $ in millions 2Q25 $ Change % Change $ Change % Change Loans $4,381.2 $77.0 2% $94.0 2% Investment securities $1,235.0 $(70.5) (5)% $(589.1) (32)% Interest earning deposits in banks $90.7 $(91.7) (50)% $55.4 157 % Deposits $5,388.1 $(101
Slide 12: Balance Sheet - Debt Securities Portfolio
Balance Sheet - Debt Securities Portfolio Portfolio Mix Total Securities Yield Corporate, 9% U.S. Treasury, 3% U.S. Agency, 1% Municipals, 10% 4.38% 4.35% 4.08% 3.7 Year Duration $1.24 4.35% billion 2.46% Yield MBS, 25% 2.37% (2Q25) 2Q24 3Q24 4Q24 1Q25 2Q25 CMO, 49% CLO, 3% 12
Slide 13: Income Statement
Income Statement % Change 2Q25 vs. $ in millions 2Q25 1Q25 2Q24 1Q25 2Q24 Net interest income $50.0 $47.4 $36.3 5% 38 % Noninterest income 10.2 10.1 21.6 1% (53)% Total revenue 60.2 57.5 57.9 5% 4% Noninterest expense 35.8 36.3 35.8 (1)% —% Pre-tax pre-provision net revenue(1) $24.4 $21.2 $22.1 15 %
Slide 14: Non-GAAP Financial Measures
Non-GAAP Financial Measures 14
Slide 15: Non-GAAP Financial Measures
Non-GAAP Financial Measures Tangible Common Equity / Tangible Book Value per Share / Tangible Common Equity Ratio June 30, 2024 March 31, 2025 June 30, 2025 dollars in thousands Total shareholders' equity $ 543,286 $ 579,625 $ 589,040 Intangible assets, net (97,327) (93,399) (92,147) Tangible common
Slide 16: Non-GAAP Financial Measures
Non-GAAP Financial Measures Efficiency Ratio For the Three Months Ended June 30, 2024 March 31, 2025 June 30, 2025 dollars in thousands Total noninterest expense $ 35,761 $ 36,293 $ 35,767 Amortization of intangibles (1,593) (1,408) (1,252) Merger-related expenses (854) (40) — Noninterest expense us
Slide 17: Non-GAAP Financial Measures
Non-GAAP Financial Measures Return on Average Tangible Equity For the Three Months Ended June 30, 2024 March 31, 2025 June 30, 2025 dollars in thousands Net income $ 15,819 $ 15,138 $ 9,980 Intangible amortization, net of tax (1) 1,195 1,047 931 Tangible net income $ 17,014 $ 16,185 $ 10,911 Average
Slide 18: Non-GAAP Financial Measures
Non-GAAP Financial Measures Adjusted Earnings / Adjusted Earnings Per Share For the Three Months Ended June 30, 2024 March 31, 2025 June 30, 2025 dollars in thousands Net income $ 15,819 $ 15,138 $ 9,980 Less: Investment securities gains, net of tax(1) 24 25 — (1) Less: Mortgage servicing rights (lo
MidWestOne Financial Group — Q2 2025 Earnings Presentation on 6ix