MidWestOne Financial Group, Inc. (MOFG)

MidWestOne Financial Group, Inc. was a bank holding company headquartered in Iowa City, Iowa, and the parent of MidWestOne Bank. The current company was formed in 2008 through the merger of ISB Financial Corp. of Iowa City and the former MidWestOne Financial Group of Oskaloosa, combining two community banking franchises with roots in Iowa.

The bank served individuals, businesses, governmental entities and institutions through offices in central and eastern Iowa, the Minneapolis and St. Paul area of Minnesota, southwestern Wisconsin, southwestern Florida and Denver, Colorado. It offered deposit accounts, commercial and industrial loans, commercial and residential real estate loans, agricultural lending and consumer loans, as well as treasury management and digital banking services.

MidWestOne also provided wealth management services, including trust and estate administration, investment advisory, retail brokerage, financial planning and farm management. These fee-based lines complemented its net interest income and gave the bank deeper relationships with farm and business owners. Its common stock traded on the Nasdaq Global Select Market under the symbol MOFG.

The company expanded beyond its Iowa base through acquisitions, including the 2019 purchase of Central Bancshares and the opening of offices in new metropolitan markets. In later years it focused on commercial real estate, managing deposit costs and credit quality in an environment of higher interest rates, which affected profitability across the regional banking sector.

On October 23, 2025, MidWestOne entered into an agreement and plan of merger with Nicolet Bankshares, Inc., a bank holding company based in Green Bay, Wisconsin. The stock-for-stock transaction provided that each MidWestOne share would be converted into the right to receive 0.3175 shares of Nicolet common stock, with no cash component described in the closing filing.

The merger closed effective February 13, 2026, with MidWestOne merging into Nicolet, which survived, and MidWestOne Bank merging into Nicolet National Bank. MidWestOne stock was suspended and removed from Nasdaq, and Nicolet planned to file a Form 15 to end MidWestOne's SEC reporting. Four former MidWestOne directors joined Nicolet's twelve-member board.

Nicolet Bankshares, the acquirer, is a Wisconsin-based bank holding company that had grown through earlier acquisitions of community banks. The combination created a larger bank across the Upper Midwest with a broader geographic reach. Because the consideration was entirely in stock, the value received by former MidWestOne shareholders depended on the trading price of Nicolet shares. The merger agreement was signed on October 23, 2025, and the combined company continued under the Nicolet name, with MidWestOne's bank offices becoming part of Nicolet National Bank.