About the Company:

MidWestOne Financial Group, based in Iowa City, is a holding company for the $1.58 billion asset MidWestOne Bank with 26 branches in 19 eastern Iowa communities and MidWestOne Insurance Services, Inc. that provides personal and business insurance services in three Iowa cities. The common stock is traded on the NASDAQ Global Select Market under the symbol MOFG and is included in the Russell 3000 Index. The company believes there will be consolidation of banks in Iowa and it will be on the lookout for opportunities. It is mainly interested in expansion along the Avenue of the Saints, which runs through Iowa from St. Louis to St. Paul.

The bank's deposits at December 31, 2010, totaled $1.22 billion and it had loans outstanding of $938 million, excluding loan pool participations and loans held for sale. Year net income available to common stock shareholders equaled $9.3 million, or $1.07 per diluted share, tangible common equity amounted to $15.27 a share, above the company's recent stock price. Total market value was recently about $120 million based on 8.64 million common shares outstanding. The company has been paying a quarterly cash dividend of five cents a share.

MidWestOne Bank provides full service retail banking. Deposit products include checking and other demand deposit accounts, NOW accounts, savings accounts, money market accounts, certificates of deposit, individual retirement accounts and other time deposits. MidWestOne Bank offers commercial and industrial, agricultural, real estate mortgage and consumer loans. Other products and services include debit cards, ATMs, on-line banking and safe deposit boxes.

Its principal service consists of making loans to and accepting deposits from individuals, businesses, governmental units and institutional customers. MidWestOne Bank also has a trust and investment department offering trust and investment services, including administering estates, personal trusts, conservatorships, pension and profit-sharing funds and providing property management, farm management, custodial services, financial planning, investment management and retail brokerage (third-party).

OPERATING STRATEGY
The company's strategy is based upon a sophisticated community banking model delivering a complete line of financial products and services while following three guiding principles: hire excellent employees; take care of customers; and conduct business with the utmost integrity. Management believes the personal and professional service offered to customers provides an appealing alternative to the "megabanks" that have resulted from out-of-state national banks acquiring Iowa-based community banks yet management believes its size, combined with its complete line of financial products and services, is sufficient to effectively compete in its markets. To remain price competitive, management believes the company must manage expenses and remain disciplined in its asset/liability management practices.