MidWestOne Financial Group (MidWestOne Financial Group) Effective Interest Rate on Debt % : 28.93% (As of Dec. 2023)

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What is MidWestOne Financial Group Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. MidWestOne Financial Group's annualized positive value of Interest Expense for the quarter that ended in Dec. 2023 was $131.3 Mil. MidWestOne Financial Group's average total debt for the quarter that ended in Dec. 2023 was $453.9 Mil. Therefore, MidWestOne Financial Group's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 was 28.93%.

MidWestOne Financial Group Effective Interest Rate on Debt % Historical Data

The historical data trend for MidWestOne Financial Group's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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MidWestOne Financial Group Effective Interest Rate on Debt % Chart

MidWestOne Financial Group Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Effective Interest Rate on Debt %

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16.18

12.26

9.75

11.48

26.59

MidWestOne Financial Group Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Effective Interest Rate on Debt %	Get a 7-Day Free Trial															15.17	29.63	36.11	26.21	28.93

Competitive Comparison of MidWestOne Financial Group's Effective Interest Rate on Debt %

For the Banks - Regional subindustry, MidWestOne Financial Group's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

MidWestOne Financial Group's Effective Interest Rate on Debt % Distribution in the Banks Industry

For the Banks industry and Financial Services sector, MidWestOne Financial Group's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where MidWestOne Financial Group's Effective Interest Rate on Debt % falls into.

MidWestOne Financial Group Effective Interest Rate on Debt % Calculation

MidWestOne Financial Group's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Dec. 2022 )	+	Total Debt (A: Dec. 2023 ))	/ count )
=	-1 * -105.441	/	( (374.71	+	418.496)	/ 2 )
=	-1 * -105.441	/	396.603
=	26.59 %

where

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	139.21	+	235.5
=	374.71

	Total Debt (A: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	123.296	+	295.2
=	418.496

MidWestOne Financial Group's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Sep. 2023 )	+	Total Debt (Q: Dec. 2023 ))	/ count )
=	-1 * -131.308	/	( (489.226	+	418.496)	/ 2 )
=	-1 * -131.308	/	453.861
=	28.93 %

where

	Total Debt (Q: Sep. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	124.526	+	364.7
=	489.226

	Total Debt (Q: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	123.296	+	295.2
=	418.496

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Dec. 2023) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

MidWestOne Financial Group (NAS:MOFG) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.

MidWestOne Financial Group Effective Interest Rate on Debt % Related Terms

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MidWestOne Financial Group (MidWestOne Financial Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » MidWestOne Financial Group Inc (NAS:MOFG) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

Traded in Other Exchanges

N/A

Address

102 South Clinton Street, Iowa City, IA, USA, 52240

Website

http://www.midwestone.com

MidWestOne Financial Group Inc is a bank holding company engaged in delivering relationship-based business and personal banking products and services. The Bank provides commercial loans, real estate loans, agricultural loans, credit card loans, and consumer loans. It also provides deposit products including demand and interest checking accounts, savings accounts, money market accounts, and time deposits. The Bank also provides products and services including treasury management, Zelle, online and mobile banking, debit cards, ATMs, and safe deposit boxes. The Bank offers its products and services through its network of full-service banking offices. the Bank's investments services department offers financial planning, investment advisory, and retail securities brokerage services.

Executives

Janet E Godwin	director	102 S CLINTON STREET, P.O. BOX 1700, IOWA CITY IA 52244-1700
Nathaniel J Kaeding	director	102 S CLINTON STREET, P.O. BOX 1700, IOWA CITY IA 52244-1700
Ruth E Stanoch	director	102 S. CLINTON STREET, P.O. BOX 1700, IOWA CITY IA 52244-1700
Charles N Reeves	director, officer: Chief Executive Officer	102 S. CLINTON STREET, P.O. BOX 1700, IOWA CITY IA 52244-1700
Larry D Albert	director, officer: Executive Vice President	102 S. CLINTON STREET, P.O. BOX 1700, IOWA CITY IA 52244-1700
Matthew J Hayek	director	102 S CLINTON STREET, P.O. BOX 1700, IOWA CITY IA 52244-1700
Tracy S Mccormick	director	102 S. CLINTON STREET, P.O. BOX 1700, IOWA CITY IA 52244-1700
Jennifer Leigh Hauschildt	director	102 S CLINTON STREET, P.O. BOX 1700, IOWA CITY IA 52244-1700
Kevin W Monson	director	102 S. CLINTON STREET, P.O. BOX 1700, IOWA CITY IA 52244-1700
Len D Devaisher	officer: President and COO	102 S CLINTON STREET, P.O. BOX 1700, IOWA CITY IA 52244-1700
David E Lindstrom	officer: EVP, Consumer Banking	102 S CLINTON STREET, P.O. BOX 1700, IOWA CITY IA 52244-1700
John J Ruppel	officer: Chief Accounting Officer	102 S. CLINTON STREET, P.O. BOX 1700, IOWA CITY IA 52244-1700
Charles N Funk	director, officer: President and CEO	102 S. CLINTON STREET, P.O. BOX 1700, IOWA CITY IA 52244-1700
Kurt R Weise	director, officer: Executive Vice President	102 S. CLINTON STREET, P.O. BOX 1700, IOWA CITY IA 52244-1700
Douglas K True	director	102 S CLINTON STREET, P.O. BOX 1700, IOWA CITY IA 52244-1700