MidWestOne Q2 net income falls to $10M on $11.9M credit loss from single CRE office loan

MidWestOne Financial Group, Inc.

2025-Q2 EPS reported $1.20

Q2 net income $10.0M ($0.48 diluted EPS) vs $15.1M ($0.73) in Q1 and $15.8M ($1.00) a year ago.
Credit loss expense surged to $11.9M from $1.7M in Q1, driven by a $24M suburban Twin Cities CRE office credit.
Net interest margin (tax-equivalent) expanded 13 bps to 3.57%; core NIM expanded to 3.49%.
Nonperforming loans rose $19.7M to $37.2M; allowance for credit losses ratio increased to 1.50% from 1.25%.
Board declared unchanged dividend of $0.2425/share; redeemed $65M subordinated notes via new $50M term note.

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