MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 17, 2018, the board of directors of MidWestOne Financial Group, Inc. (the “Company”), on the recommendation of the Company's Nominating and Corporate Governance Committee, appointed Larry D. Albert as a director of the Company. Mr. Albert's appointment is effective upon the retirement of John M. Morrison, which is expected to occur on or about October 1, 2018, and his term will expire in 2020. Mr. Albert, currently serves on the board of directors of MidWestOne Bank, and formerly served on the board of directors of the Company from the completion of our merger with Central Bancshares, Inc. in May 2015, until April 2016, to the terms of the merger agreement with Central. Mr Albert also previously served as an Executive Vice President of the Company from May 2015 until his retirement in August 2015.
Mr. Albert will receive the same compensation for his service as a director as the other non-employee directors, prorated for his service in 2018. The committee or committees on which Mr. Albert will serve, if any, have not yet been determined by the board of directors.
A copy of the press release announcing the appointment of Mr. Albert to the position of Director is attached hereto as Exhibit 99.1.
Item 8.01. Other Events.
On July 17, 2018, the board of directors of the Company declared a cash dividend of $0.195 per share payable on September 17, 2018, to shareholders of record as of the close of business on September 1, 2018. The press release is attached as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(d)Exhibits.
Exhibit No.Description
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MidWestOneFinancial Group, Inc. Press Release dated July18, 2018. |
MidWestOne Financial Group, Inc. ExhibitEX-99.1 2 a7-17x18dividendalbertpres.htm EXHIBIT 99.1 Exhibit Exhibit 99.1NEWS RELEASE FOR IMMEDIATE RELEASEContact: Date: July 18,…To view the full exhibit click here
About MidWestOne Financial Group, Inc. (NASDAQ:MOFG)
MidWestOne Financial Group, Inc. is a bank holding and financial holding company. The Company operates through its bank subsidiaries, MidWestOne Bank, Central Bank and MidWestOne Insurance Services, Inc. MidWestOne Bank and Central Bank provide service retail banking in the communities in which their respective branch offices are located. Its deposit products include checking and other demand deposit accounts, negotiable order of withdrawal accounts, savings accounts, certificates of deposit, individual retirement accounts, non-interest-bearing demand deposits and money market accounts. MidWestOne Bank and Central Bank offer commercial and industrial, agricultural, real estate mortgage and consumer loans. Other products and services include debit cards, automated teller machines, online banking, mobile banking and safe deposit boxes. The principal service consists of making loans to and accepting deposits from individuals, businesses, governmental units and institutional customers.