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MidWestOne: 3Q Earnings Snapshot

IOWA CITY, Iowa (AP) _ MidWestOne Financial Group Inc. (MOFG) on Thursday reported third-quarter profit of $12.3 million.

The bank, based in Iowa City, Iowa, said it had earnings of 76 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, were 88 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 83 cents per share.

The holding company for MidWestOne Bank posted revenue of $62.1 million in the period. Its revenue net of interest expense was $51.3 million, which also topped Street forecasts.

MidWestOne shares have climbed 24% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $30.76, a climb of slightly more than 6% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MOFG at https://www.zacks.com/ap/MOFG