IOWA CITY, Iowa (AP) _ MidWestOne Financial Group Inc. (MOFG) on Thursday reported fourth-quarter profit of $16.7 million.

The bank, based in Iowa City, Iowa, said it had earnings of $1.04 per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.

The holding company for MidWestOne Bank posted revenue of $56.1 million in the period. Its revenue net of interest expense was $49.7 million, also surpassing Street forecasts.

For the year, the company reported profit of $6.6 million, or 41 cents per share. Revenue was reported as $191.6 million.

MidWestOne shares have increased almost 2% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $24.92, a drop of 25% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MOFG at https://www.zacks.com/ap/MOFG

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