MidWest One Financial Group, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, total interest income was $16,924,000 against $17,094,000 for the same period a year ago. Income before income tax expense was $5,762,000 against $4,411,000 for the same period a year ago. Net income available to common shareholders was $4,357,000 against $3,351,000 for the same period a year ago. Net income was higher than the same period in 2011 primarily due to: a 4.7% increase in net interest income; an increase of 13.2% in noninterest income; and an 18.8% decrease in the provision for loan losses. Earnings per common share-diluted were $0.51 against $0.39 for the same period a year ago. Book value per share was $20.51 against $8.35 for the same period a year ago. Tangible book value per share was $19.39 against $17.15 for the same period a year ago. Return on average assets (annualized) was 0.98% against 0.80% for the same period a year ago. Return on average equity (annualized) was 10.04% against 8.52% for the same period a year ago. Operating revenue was $18,038,000 against $16,866,000 for the same period a year ago.

For the year, total interest income was $69,302,000 against $68,581,000 for the same period a year ago. Income before income tax expense was $22,093,000 against $17,929,000 for the same period a year ago. Net income available to common shareholders was $16,751,000 against $12,672,000 for the same period a year ago, the increase in net income was primarily the result of higher net interest income, lower provision for loan loss expense, and increased noninterest income, the latter of which was mainly due to the gain on the sale of the company's home mortgage center location realized in the second quarter of 2012. Earnings per common share-diluted were $1.96 against $1.47 for the same period a year ago. Return on average assets (annualized) was 0.97% against 0.82% for the same period a year ago. Return on average equity (annualized) was 10.13% against 8.42% for the same period a year ago. Operating revenue was $71,570,000 against $65,682,000 for the same period a year ago.