Overview / Commentary
MidWestOne Bank is headquartered in IOWA CITY and is the 3rd largest bank in the state of Iowa. It is also the 233rd largest bank in the nation. It was established in 1934 and as of September of 2024, it had grown to 750 employees at 59 locations. MidWestOne Bank has a B+ health rating.
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Reviews (1)
Bad Service
Posted by: rourada | Sep 17, 2024
Insanely difficult to close your account; you have to send them a letter as if it were 1924, not 2024. Half the customer service representatives you speak with have no idea what they are doing, and the bank's fraud detection is miserable. The majority of online purchases, even from large reputable stores, are flagged as fraudulent, and you are unable to use your money. There are much more reliable banks; put your money somewhere else!
Health
B+
Data as of Q3 2024
Learn why bank health mattersAdditional Factors: Institutions with a small asset base, a short operating history, or negative return on equity can represent an instability risk beyond what their financial ratios indicate. MidWestOne Bank has a negative return on equity.
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 14843 |
| Year Established | 1934 |
| Employees | 750 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | -1.39% |
| Return on Equity - YTD | -14.21% |
| Annual Interest Income | $216.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2024vs Q3 2023 | $6.55B$6.46B |
| Loans | Q3 2024vs Q3 2023 | $4.28B$4.02B |
| Deposits | Q3 2024vs Q3 2023 | $5.38B$5.38B |
| Equity Capital | Q3 2024vs Q3 2023 | $664.1MM$606.8MM |
| Loan Loss Allowance | Q3 2024vs Q3 2023 | $54MM$51.6MM |
| Unbacked Noncurrent Loans | Q3 2024vs Q3 2023 | $21.3MM$26.7MM |
| Real Estate Owned | Q3 2024vs Q3 2023 | $3.5MM$0 |
