KBRA Releases Surveillance Report for MidWestOne Financial Group, Inc.

Rhea-AI Summary

KBRA affirms ratings for MidWestOne Financial Group, Inc.

Positive

• Affirmation of ratings indicates stability for the company

Negative

• Outlook revised to Negative from Stable

NEW YORK--(BUSINESS WIRE)-- On June 22, 2023, KBRA affirmed the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3 for Iowa City, Iowa-based MidWestOne Financial Group, Inc. (NASDAQ: MOFG) (“MidWestOne” or “the company”). In addition, KBRA affirmed the deposit and senior unsecured debt ratings of BBB+, the subordinated debt rating of BBB, and the short-term deposit and debt ratings of K2 for lead subsidiary, MidWestOne Bank. The Outlook for all long-term ratings was revised to Negative from Stable.

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About KBRA

KBRA is a full-service credit rating agency registered in the U.S., the EU, and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.

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John Rempe, Director

+1 301-969-3045

john.rempe@kbra.com

Joe Scott, Senior Managing Director

+1 646-731-2438

joe.scott@kbra.com

Bryan So, Director

+1 301-969-3246

bryan.so@kbra.com

Business Development Contact

Justin Fuller, Senior Director

+1 646-731-1250

justin.fuller@kbra.com

Source: KBRA