NASDAQ$MOFG

Midwestone Financial Group I · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Reported financial results for the first quarter of 2022.

MidwestOne Financial Group reported a net income of $13.9 million, or $0.88 per diluted common share, for the first quarter of 2022. Core commercial annualized loan growth was 5.4% to $2.71 billion. The efficiency ratio was 60.46%.

  • Net income for the first quarter was $13.9 million, or $0.88 per diluted common share.
  • Total revenue, net of interest expense, of $49.0 million.
  • Core commercial annualized loan growth of 5.4% to $2.71 billion.
  • Efficiency ratio was 60.46%.

Headline financials

Total Revenue

$49M

Previous: $50.4M-2.9%
EPS (adj)

$0.88

Previous: $1.35-34.8%
Efficiency Ratio

60.5%

Previous: 50.8%+19.1%
Return On Average Tangible Equity

13.6%

No prior period
Net Charge Off Ratio

0.3%

Previous: 0.0%+600.0%
Capital Expenditures

-$938K

Previous: -$349K-168.8%
Free Cash Flow

$25.2M

Previous: $14.7M+71.7%
Net Income

$13.9M

Previous: $21.6M-35.8%
Operating Income

$35.3M

Previous: $33.5M+5.3%
Gross Profit

$48.7M

Previous: $45.9M+6.1%
Cash & Equivalents

$59.8M

Previous: $138M-56.7%
Total Assets

$5.96B

Previous: $5.74B+3.9%
Stock-Based Comp

$560K

Previous: $384K+45.8%

Revenue & EPS history

MidwestOne · Revenue · Quarterly

$49M

Q1 2022-2.9%vs Q1 2021
Beat estimate in 7 of 15 quarters(47%)
ActualEstimate

Revenue by segment

MidwestOne · $9.12M total across 6 segments · Q1 2023

  • Investment services & trust
    $2.93M
  • Service charges & fees
    $2.01M
  • Card revenue
    $1.75M
  • Loan revenue
    $1.42M
  • Bank-owned life insurance
    $602K
  • Other
    $413K

Forward guidance

The Company expects to close the Iowa First acquisition in the second quarter and believe this will add to our earnings per share during the remainder of 2022 and beyond.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 7 quarterly earnings reports

Historical avg

+0.5%

Avg return

Earnings day

+3.6%

Avg return

5 days after

+8.6%

Avg return

30 days after

48%

31 / 64 earnings

Positive

+39.4%

Q3 2025

Best reaction

-10.6%

Q1 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q4 2025
Q3 2025+39.4%+27.0%+32.8%
Q2 2025-3.9%-4.3%+4.0%
Q1 2025-0.8%-2.5%-0.5%
Q4 2024+2.9%+6.3%+3.2%
Q3 2024-3.3%-0.2%+15.3%
Q2 2024+5.0%+5.1%+6.4%
Q1 2024-4.8%-5.9%-0.5%
Q4 2023+0.5%
Q3 2023+1.1%
Q2 2023-3.3%
Q1 2023+1.5%
Q4 2022-5.8%
Q3 2022+6.2%
Q2 2022-1.1%
Q1 2022-0.7%
Q4 2021-1.3%
Q3 2021+5.9%
Q2 2021-0.7%
Q1 2021+1.5%
Q4 2020-2.8%
Q3 2020+0.2%
Q2 2020+3.3%
Q1 2020-10.6%
Q4 2019-0.5%
Q3 2019-1.2%
Q2 2019+6.6%
Q1 2019-3.1%
Q4 2018+1.1%
Q3 2018-2.2%
Q2 2018-3.1%
Q1 2018-2.5%
Q4 2017-2.5%
Q3 2017-1.7%
Q2 2017+0.0%
Q1 2017+0.1%
Q4 2014-0.2%
Q4 2015-0.2%
Q4 2016-2.7%
Q3 2016-1.2%
Q2 2016-0.2%
Q1 2016-0.5%
Q3 2015-3.8%
Q2 2015+0.3%
Q1 2015-0.8%
Q3 2014+5.7%
Q2 2014-0.6%
Q1 2014+4.6%
Q4 2013+1.3%
Q3 2013-1.0%
Q2 2013+0.8%
Q1 2013-0.2%
Q4 2012+0.7%
Q4 2011+0.7%
Q3 2012-1.8%
Q2 2012+3.9%
Q1 2011+1.6%
Q1 2012+3.3%
Q4 2009+0.3%
Q3 2011+0.9%
Q3 2010+0.9%
Q4 2010+0.6%
Q2 2011+0.6%
Q2 2010+0.6%
Q1 2010+0.1%

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