**MidWestOne Financial Group shares MOFG, the parent company of MidWestOne Bank, fell 8.5 percent to $25.45 in extended trading after announcing a follow-on offering
** Iowa-based company launches $100 million equity offering with KBW as sole underwriter
** MOFG will use the net proceeds for general purposes, including investments in the regional bank to support balance sheet repositioning and growth, as stated in the investor presentation (link)
** As of June 30, MOFG had total assets of $6.6 billion, $4.3 billion in gross loans and $5.4 billion in total deposits
** With ~15.77 million shares outstanding, the company has a market cap of ~$440 million
** MOFG shares closed down 0.3% at $27.82 on Thursday. The stock is up ~3% year-to-date, closing at $19.33 a year ago
** 2 out of 5 analysts covering MOFG rate the stock as a strong buy, 3 rate it as a hold, and the median price target is $30, according to LSEG
