IOWA CITY — MidWestOne Financial Group, corporate parent of MidWestOne Bank, posted third-quarter earnings that were essentially the same the third quarter of 2013.The Iowa City bank holding company reported third-quarter net income of $4.9 million for the third quarter, or 59 cents per share, compared with $4.9 million, or 57 cents per share, for the same period last year.Earnings were driven primarily by a 2.3 percent increase in net interest income, a 40 percent decrease in the provision for loan loss expense, and a 5.4 percent increase in noninterest income.“It was a solid quarter and we believe that we are on target for our fourth consecutive year of record earnings per share,” said Charles Funk, president and CEO.
Comment on MidWestOne earnings virtually unchanged
Local News from TheGazette.com, The Gazette (Cedar Rapids)
Fri, 10/24/2014 - 3:20pm
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