Average User Rating:
3 star rating based on 2 reviews.

MidWestOne Bank

102 South Clinton Street
Iowa City, IA 52240
800-247-4418
www.midwestone.com

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MidWestOne Bank is headquartered in Iowa City and is the 4^th largest bank in the state of Iowa. It is also the 390^th largest bank in the nation. It was established in 1934 and as of December of 2012, it had grown to 377 employees at 26 locations. MidWestOne Bank has a 5-star health rating.

MidWestOne Bank Routing Number: 073901233

Great 37- And 47-Mo CD Rates At MidWestOne (Forum) - 11/24/2010

Bauer rating: 3 ½ -stars - Early withdrawal penalty on CDs over 12 mo: 6 mos of interest - 37 mo CD special w relationship bump: 2.48%rate, 2.5%APY, min $10K - 47 mo CD special w relationship bump: 2.97%rate, 3.0%APY

3.90% Reward Checking Account at an Iowa Bank (MidWestOne) - 1/29/2008

Update 7/18/09: The top yield has fallen to 3.90% APY. See bottom of post for the rate history.MidWestOne Bank has started a reward checking account called Power Checking that pays 3.90% APY for balances up to $25,000 (0.75% for above) and refunds ATM...

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See Rates for: Checking | Savings | Money Market | CD

MidWestOne Bank Checking Account Rates

Apy	Min	Max	Product
1.50%	-	$25k	Power Checking
0.15%	$50k	-	Connections Club Checking
0.15%	$50k	-	Relationship Checking
0.15%	$50k	-	Business Interest Checking
0.15%	$50k	-	Non-Profit Checking

MidWestOne Bank Savings Account Rates

Apy	Min	Max	Product
0.10%	-	-	Kids Club Savings
0.10%	-	-	Consumer Savings
0.10%	-	-	Business Savings

MidWestOne Bank Money Market Rates

Apy	Min	Max	Product
0.20%	$100k	-	Money Market Account
0.20%	$100k	-	IRA Money Market
0.20%	$100k	-	Business Money Market
0.20%	$100k	-	Commercial Funds Management

MidWestOne Bank CD Rates

Apy	Min	Max	Product
1.20%	$25k	-	43 Month Relationship Bump CD Special
1.05%	$10k	-	43 Month CD Special
1.00%	$10k	-	60 Month CD
1.00%	$10k	-	Business 60 Month CD
0.80%	$10k	-	48 Month CD
0.80%	$10k	-	Business 48 Month CD
0.80%	$10k	-	27 Month Relationship Bump CD
0.75%	$10k	-	36 Month CD
0.75%	$10k	-	Business 36 Month CD
0.65%	$10k	-	27 Month CD Special
0.55%	$10k	-	30 Month CD
0.55%	$10k	-	Business 30 Month CD
0.50%	$10k	-	24 Month Flex CD
0.50%	$10k	-	24 Month CD
0.50%	$10k	-	Business 24 Month CD
0.50%	$10k	-	Business 24 Month Flex CD
0.50%	$25k	-	13 Month Relationship Bump CD Special
0.45%	$25k	-	18 Month Flex CD
0.40%	$10k	-	18 Month CD
0.40%	$10k	-	Business 18 Month CD
0.40%	$10k	-	Business 18 Month Flex CD
0.35%	$10k	-	13 Month CD Special
0.30%	$10k	-	12 Month Flex CD
0.30%	$10k	-	12 Month CD
0.30%	$10k	-	Business 12 Month CD
0.30%	$10k	-	Business 12 Month Flex CD
0.25%	$10k	-	9 Month CD
0.25%	$10k	-	Business 9 Month CD
0.20%	$10k	-	6 Month CD
0.20%	$10k	-	Business 6 Month CD
0.15%	$10k	-	3 Month CD
0.15%	$10k	-	Business 3 Month CD
0.10%	$10k	-	1 Month CD
0.10%	$10k	-	2 Month CD
0.10%	$10k	-	Business 1 Month CD
0.10%	$10k	-	Business 2 Month CD

Rates updated: 5/25/2013

Data for Q4 2012

Institution Statistics

MidWestOne Bank
FDIC Certificate #	14843
BankRate Report	View
Year Established	1934
Employees	377
Primary Regulator	FDIC
Assets and Liabilities
Assets	$1.78 billion
Loans	$1.05 billion
Deposits	$1.41 billion
Equity Capital	$170.35 million
Loan Loss Allowance	$18.09 million
Unbacked Noncurrent Loans	$10.71 million
Real Estate Owned	$4.04 million
Historic Data - December 2011
Assets	$1.68 billion
Equity Capital	$152.26 million
Loan Loss Allowance	$17.81 million
Unbacked Noncurrent Loans	$20.59 million
Real Estate Owned	$4.03 million
Profit Margin - Quarterly
Net Interest Margin	3.75%
Return on Assets	1.1%
Return on Equity	11.7%
Interest Income	$74.90 million

Institution Health

Overall Score:

5 out of 5

Texas Ratio
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2012 MidWestOne Bank had $14.76 million in non-current loans and owned real-estate with $188.44 million in equity and loan loss allowances on hand to cover it. This gives MidWestOne Bank a Texas Ratio of 7.83% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for MidWestOne Bank decreased significantly from 14.64% as of December 31, 2011 to 7.83% as of December 31, 2012, resulting in a positive change of 46.53%.This indicates that the balance sheet and financial strength for MidWestOne Bank has improved significantly in recent periods.
Deposit Growth
In the past year, MidWestOne Bank has increased its total deposits by $98.05 million, resulting in 7.5% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth MidWestOne Bank has shown is excellent.
Capitalization
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. MidWestOne Bank has $1.78 billion in assets with $188.44 million in equity, resulting in a capitalization level of 10.59%, which is above average.

Disappointed!
1 stars

- JimThorne - Friday, December 14, 2012 - 12:32 PM

MidWestOne's online access for business falls very short in several areas:

No ability to access even the web version via mobile device, let alone a mobile app.
Compatibility issues with anything other than Internet Explorer 6. Currently, most people use Internet Explorer 9 or 10. Also no compatibility with Chrome.
Inability to view much historic transactions other than in an electronic statement. MidWestOne only allows businesses to export transactions to Excel or a 3rd party such as Quicken for the most recent month. This isn't very conducive for the need to review the fiscal year of transactions.
Unwillingness to work with business customers to find alternatives around shortfalls.

Needless to say, MidWestOne falls short with their business online access, making managing a business hard with MidWestOne.

MidWestOne Bank
5 stars

- pearlbrown - Wednesday, November 24, 2010 - 9:39 PM

I do business with this bank and was very pleased with my experience in establishing my account via phone and US mail. The personal banker I worked with was very accommodating.

MidWestOne Bank

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