MidWestOne Bank provides retail and commercial banking, and related financial services in Iowa.  The company’s deposit products include demand, savings, time deposits, and certificates of deposit.  It also offers real estate, commercial, agricultural, and consumer loans, as well as trust services.  The bank offers its services to individuals, small to medium sized business, farmers, government and public entities, and not-for-profit organizations.  MidWestOne Bank has 29 bank branches. 

MidWestOne Financial Group is the holding company for MidwestOne Bank as well as Iowa State Bank and Trust, and First State Bank, Iowa.  These banks operate bank branches in south-central and eastern Iowa.  Together, the banks offer standard deposit products such as checking and savings accounts, CDs, and IRAs, in addition to trust services, credit cards, insurance, and brokerage and investment services.  MidWestOne Financial Group had total assets of $1,505,501,000 at the end of 2008.  Net income for the year was a $24,562,000 net loss.

The banks fourth quarter earnings were significantly impacted by goodwill adjustments and other one time charges.  When one accounts for all of the one-time charges, the company actually earned a small profit from ongoing operations in the fourth quarter.  Nonperforming loans in the bank loan portfolio totaled $14.6 million as of December 31,2008, which was 1.43% of total bank loans.  The bank is considered well capitalized for regulatory purposes.

With a minimum balance of $10,000.00-$24,999.99 MidWestOne Bank offers the following CD rates:

A one month CD rate is 1.00% APY.
And a two month CD rate is 1.05% APY.

With a minimum balance of $1,000.00-$9,999.99 MidWestOne Bank offers the following CD rates:

A three month CD rate is 0.75% APY.
A six month CD rate is 1.50% APY.
A nine month CD rate is 1.75% APY.
A one year CD rate is 1.75% APY.
An eighteen month CD rate is 1.95% APY.
A two year CD rate is 2.05% APY.
A thirty month CD rate is 2.15% APY.
A three year CD rate is 2.40% APY.
A four year CD rate is 2.75% APY.
And a five year CD rate is 3.00% APY.

The bank is also currently providing the following CD specials.  With a  minimum opening balance of $1,000.00-$9,999.99 a seventeen month CD special earns an interest rate of 2.00% APY and a fifty-nine month CD special has an interest rate of 3.00% APY.
 
The Daily Balance Method is used to calculate interest on the bank CD accounts.  This method applies a daily periodic rate to the principal balance in the account each day.  Interest will compound quarterly on all certificates of deposit 3 months and longer.  Interest will compound at maturity on CDs shorter than 3 months. 

CD rates are subject to change without notice.  Additional conditions may apply.  For current CD rates and account information contact the bank directly at 800-247-4418.  CD rates, account information and other disclosures can be found at the bank website, www.midwestone.com.

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