MidWestOne Bank is headquartered in Iowa City and is the 2nd largest bank in the state of Iowa. It is also the 245th largest bank in the nation. It was established in 1934 and as of December of 2019, it had grown to 771 employees at 58 locations. MidWestOne Bank has an A health rating.
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MidWestOne Bank
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.
Disappointed!
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.
Data as of Q4 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 14843 |
| Year Established | 1934 |
| Employees | 771 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.18% |
| Return on Equity - YTD | 10% |
| Annual Interest Income | $183.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2019vs Q4 2018 | $4.65B$3.28B |
| Loans | Q4 2019vs Q4 2018 | $3.43B$2.37B |
| Deposits | Q4 2019vs Q4 2018 | $3.74B$2.62B |
| Equity Capital | Q4 2019vs Q4 2018 | $575.5MM$371.9MM |
| Loan Loss Allowance | Q4 2019vs Q4 2018 | $29.1MM$29.3MM |
| Unbacked Noncurrent Loans | Q4 2019vs Q4 2018 | $38.5MM$20.2MM |
| Real Estate Owned | Q4 2019vs Q4 2018 | $4.3MM$485.00K |
