IOWA CITY, Iowa (AP) — MidWestOne Financial Group Inc. (MOFG) on Thursday reported second-quarter earnings of $11.7 million.
The bank, based in Iowa City, Iowa, said it had earnings of 73 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.
The holding company for MidWestOne Bank posted revenue of $55 million in the period. Its revenue net of interest expense was $47 million, which missed Street forecasts. Three analysts surveyed by Zacks expected $47.7 million.
MidWestOne shares have fallen 52% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $17.46, a drop of 43% in the last 12 months.