MidWestOne Enrollment Booklet

Enrollment Booklet MidWestOne Financial Group, Inc. 401(k) Plan

895 Main Street, Dubuque, IA 52001 | 800.548.2994 americantrustretirement.com

Contents

• Quick Links

• Understanding Your 401(k) Retirement Plan

• Why You Should Participate

• More Reasons to Participate

• Calculate What You Need and Stay on Track

• Pre-tax or Roth Contributions

• Strengthen Your Saving Potential

• Understanding Your Investment Strategy

• Choose the Right Strategy

• ATArchitect®

• Get Started

• Navigating the Website

• Investment Information

• Plan Information

Introducing Your Employer Sponsored Retirement Plan

Congratulations! You are eligible to participate in your employer sponsored retirement plan. Saving for retirement requires planning, preparation, and self-discipline. We help you every step of the way! American Trust, your retirement plan provider, has professionals dedicated to helping you achieve a successful and stress-free retirement. With our extensive knowledge and expertise, we can educate and guide you in planning for your future. We are extremely proud of our award-winning client service and look forward to building a relationship with you on a one-on-one basis. Educating You This enrollment booklet is designed to make the retirement process easy and convenient for you. The path to retirement can be challenging at times, but rewards lie ahead. We will help you with quick and simple planning that will put you on the path toward achieving your retirement goals!

Quick Links

About Your Plan The Summary Plan Description (SPD) outline is a quick summary of the benefits provided by an employer-sponsored retirement plan.

Establish a Contribution Amount Determine the amount you can contribute and create a plan to achieve your goals. Click here for a tool to help you estimate how much you may need for retirement.

Choose an Investment Election Once you’ve established a contribution amount, now you’ll need to elect your investments. Determine about option is best for you.

4 5 6

ATBlueprint® Create and Customize form Provide us information on other retirement accounts and customized measurements and we will provide you an updated ATBlueprint.

Complete a Rollover Form (if applicable) Roll over a 401(k) or IRA account from a previous employer. Note: only needed if you choose to transfer an outside retirement account into a new retirement account.

Enroll Now Once you have completed the steps above, it’s time to enroll!

Important Note Contact your employer to determine if there is a deadline to submit this information. !

Understanding Your 401(k) Retirement Plan

Let’s start with the basics. Since you are eligible to participate in your retirement plan, it is important to know what it is, how it works, and the advantages.

What is a 401(k) Retirement Plan? A 401(k) is an employer sponsored account that enables you to save money and make your savings grow. • Sponsored by your employer • Allows you to make contributions • Tax advantage: defer taxes until distribution and/or potential for tax-free income How Does it Work? Saving for retirement is easy. You decide the amount you want deducted from your pay check. * That amount is immediately placed into your 401(k) account and invested into the funds you select. The money you invest accumulates tax-deferred/tax-free in your account. You can track your account balance through quarterly statements or online anytime. To build a successful retirement fund, you will need to make sure you are contributing the right amount.* You will also want to ensure that contributions will be invested the right way based on your needs.

* This amount can be adjusted periodically. Refer to your Summary Plan Description outline to find out how often your plan allows for changes.

Retirement Plan Advantages

• By contributing pre-tax, you can lower your taxes and keep more of what you’ve earned.

• Compounding–your balance may accumulate quickly, earning interest on top of interest.

• Investment customization and flexibility.

• Saving is easy with an automatic deduction from your paycheck.

• It is portable. If you leave your current employer, you can move the money to your next employer’s 401(k) or another qualified plan, such as an IRA.

Why You Should Participate

There are many reasons you should participate in a 401(k) retirement plan. The most important reason is to save enough money to live comfortably when you retire. However, there are other immediate advantages to consider that may make participating in this plan even more important to you and your future. Potential Tax Savings When you contribute money (pre-tax) to your 401(k) plan, you may keep more of what you have earned. Here’s an example: Jane has an income of $35,000 per year and currently contributes $200 per month to her 401(k) plan. Income Taxes Taxable income before contributing $35,000 $5,250 Annual pre-tax contributions ($200 × 12 months) $2,400 - Taxable income after contribution $32,600 $4,890 Tax Savings - $360 Example for illustrative purposes only. Taxes are based on 2016 tax tables for a single filer. Consult for your tax advisor for specific information.

Calculate Contribution Percentage

Monthly contribution amount × 12 months ÷ Annual salary = Percentage of salary

$204 × 12 / $45,000 = 5.44% (rounded up)

Assuming the participant’s salary is $45,000 a year, the participant would need to contribute 6% of his or her salary to reach the annual contribution goal of 2,448.

The results: Jane deposited $2,400 into her 401(k) account during the year. By contributing money to her retirement plan, Jane accomplished two things: 1. Accumulated $2,400 for retirement 2. Saved $360 in taxes

Why Start Early?

On average, retired workers received $1,335 per month in 2015. 1

A couple, age 65, will spend about $295,000 of their income to cover healthcare costs, if they live to their life expectancy. 2

Inflation has averaged 3.34% over the last decade. It could possibly decrease your income over time. 3

1 Source: Social Security: www.ssa.gov/news/press/basicfact.html. June 2015 2 Source: “2015 Retirement Health Care Costs Data Report©,” HealthView Services. www.hvsfinancial.com/PublicFiles/Data_Release.pdf 3 Source: http://www.usinflationcalculator.com/inflation/historical-inflation-rates/

More Reasons Why You Should Participate

Tax-Deferred Growth Money saved in your retirement plan grows tax-deferred. You do not pay taxes on the money in your retirement account until you begin to use it as your income or withdraw cash. Your savings stays invested and may earn interest for you, equaling faster growth.

Your interest earns interest.

Think of it as a “snowball” effect. As a snowball rolls downhill, it accumulates quickly and gets bigger. Your 401(k) account can work similar to this concept. The longer your money sits in your account, the faster it can earn interest and grow more quickly.

Dollar Cost Averaging By definition, dollar cost averaging is buying a fixed dollar amount of an investment on a regular schedule, regardless of the price. More shares are purchased when prices are low and fewer shares are bought when prices are high. Dollar cost averaging lessens the risk of investing a large amount in a single investment at the wrong time. You decide on the amount you want deducted from your paycheck and contributed to your retirement account. This enables you to invest a fixed amount of money over a fixed period of time. Here’s an example: You contribute $50 per week. While the amount of $50 does not change from week to week, the price of the funds you invest in will. The lower the price of the shares at the time you contribute, the more you buy.

Start Saving Early It’s never too late to begin saving for retirement, but it is proven that the earlier you start, the easier it is.

$516,126

$300,815

Tom and Jennifer start planning for retirement at age 25. Each contribute $212 per month and earn 4.2% average tax-deferred annual return. Their savings would grow to $516,126 by the time they reach 65.

However, if they wait until the age of 35, contribute the same amount per month at the same rate of return, they would only accumulate $300,815.

Starting 10 years earlier made a $200,000 difference!

For more information, visit americantrustretirement.com and click Financial Calculators under Quick Links.

Be fearful when others are greedy, and greedy when others are fearful.

–Warren Buffett

During the market meltdown of 2008, some people decided to reduce or to stop contributing to their 401(k) accounts. Unfortunately, the decision to do so was not based on fact, but rather on fear. Acting on fear when investing your money can lead to making poor decisions for your retirement account.

How Dollar Cost Averaging Works Let’s look at Joe, our participant. Joe buys cows rather than buying mutual funds with the money he contributes. He works Monday through Friday and makes $10.00 contributions each day.

Time Horizon

Mon

Tues

Wed

Thurs

Fri

Total

Contribution

$10.00 $10.00

$10.00

$10.00 $10.00 $50.00

Share Price per Cow $10.00 $5.00

$2.50

$5.00 $10.00

-

# of Cows Purchased

Results: Just like a mutual fund, the price of cows changed every day. They were worth $10 on Monday and only $2.50 on Wednesday. By Friday, they were back to $10.00. However, the amount Joe contributed was unchanging at $10 each day. On Wednesday, when the cows were valued at $2.50, he bought four cows with his $10 rather than just one. We cannot control or predict what the price of our funds will be on the day you contribute, but the benefit of dollar cost averaging is when the mutual funds you are buying are down in price, you are actually buying more shares for your money.

The price of the cow never increased from $10. However, by Friday he still doubled his money!

Click here for more reasons why you should start early!

Calculate What You Need

How do you know what you need to retire? Many experts believe that you will need to replace 60 to 80 percent of your current annual income. We can help you create a plan to set and achieve your goals, and track it with the ATBlueprint ® .

Determine Your Target Savings Goal We designed a tool to guide you in estimating how much you may need to have saved for retirement–your target savings goal. We used John as an example. He has 30 years until retirement, earns $30,000 per year, and currently has $15,000 in retirement savings. To calculate your own target savings goal, click here.

Use the ATBlueprint ® to guide you.

What is the ATBlueprint? The ATBlueprint is a powerful process that aids a participant in becoming ready for retirement. It draws your path to retirement by:

• Defining your relationship between your current and future income needs • Projecting a beneficiary’s monthly benefits

• Estimating annual costs of long term-care insurance • Suggesting ways to increase your retirement balance • Using monthly returns in future progress projection, and cost of living adjustments based on residence • Offering relevant ways to improve outcomes

Your Monthly Outlook The Monthly Outlook section in your ATBlueprint outlines the income your retirement accounts and Social Security may provide at retirement, and compares it to your goal. Your goal is determined by the AON Consulting 2008 Replacement Ratio Study or can be customized by you.

Improve Your Monthly Outlook The ATBlueprint also offers ways to help you improve your retirement outlook by saving more now and/or reducing income you need during retirement. Making small changes will have a positive impact on reaching your goal.

Sample

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Click here to Create or Customize Your ATBlueprint ® Participants can create and/or customize their ATBlueprint by using specific measurements including compensation, savings rates, and more. Other information from other retirement accounts can also be incorporated. This allows the ATBlueprint to provide a more comprehensive analysis of our participants’ retirement readiness. Find out why you should customize your ATBlueprint!

Pre-Tax or Roth Contributions?

Determine which one is best for you.

Pre-tax Contributions

Roth Contributions

Advantages • Tax free growth • Great for disposable income or emergencies at retirement • Passes tax-free to your beneficiaries • Higher contribution limits than a Roth IRA • May be rolled into a Roth IRA • No required minimum distribution provision at age 70½ if rolled into a Roth IRA • Your contributions and earnings are tax-free once you reach age 59½ and have been investing for five years Could Be Beneficial If You • Are in a lower tax bracket now than at retirement (likelihood of this increases if you have 20 years or more until retirement) • Can afford less take-home pay now in exchange for paying no taxes later • Want to leave tax-free money to your beneficiaries • Have a pre-tax source of funds to use for income, but also need disposable, tax-free income at retirement • Are age 30 or less and/or just starting to save for retirement • Can wait for five years and age 59½ to use the money Considerations • Contributions do not lower your income taxes • Less take-home pay (due to taxes) • Cannot be distributed for loans or hardships • Five year and age 59½ rules apply to everyone

Advantages • Reduces your taxable income

• Taxes not paid until you take a distribution • Tax savings equals more take-home pay

Could Be Beneficial If You • Are in a high tax bracket and need to lower your taxable income (see example below) • Are unable to tolerate less take-home pay now • Retire or need access to your account in five years or less • Are in a higher tax bracket now than you will be at retirement Considerations • Required minimum 20 percent federal

tax and possible state tax due immediately upon withdrawal • Uncertainty about the assessment of future taxes • At age 70½ you may be required to begin taking minimum distributions • Nonspousal beneficiaries subject to specific rules for distribution

Tax Savings Example Income Taxes Taxable income before contributing $35,000 $5,250 Annual pre-tax contributions ($200 x 12 months) $2,400 - Taxable income after contribution $32,600 $4,890 Tax Savings - $360 Example for illustrative purposes only. Taxes are based on 2016 tax tables for a single filer. Consult for your tax advisor for specific information.

Consult your American Trust representative or your tax advisor for more information as each individual situation may vary.

Comparisons

$30,000 in Compensation and 7% Contribution

Pre-tax Contribution Gross Income

Roth Contribution Gross Income

$30,000

$30,000

Subtract 7% Contribution

Subtract 25% Tax Rate

-$2,100

-$7,500

$27,900

$22,500

Taxable Income

After-tax Income

-$6,975

-$2,100

Subtract 25% Tax Rate

Subtract 7% Contribution

$20,925

$20,400

Take-home Pay

Take-home Pay

Growth of $2,100 over 25 years at an 8% rate of return

Growth of $2,100 over 25 years at an 8% rate of return

$159,663

$159,663

Results: income taxes are owed on the full balance of $159,663 upon distribution. Assuming 20 percent federal tax and 5 percent state tax, the tax equals approximately $39,915 (each state tax may differ and require more or less taxes withheld).

Results: a 7 percent contribution provides for $525 less in annual take-home pay per year as compared to pre-tax, which equates to $13,125 over a 25 year period. However, in a Roth IRA, you do not owe any tax on the full $159,663 when withdrawn.

$50,000 in Compensation and 7% Contribution

Pre-tax Contribution Gross Income

Roth Contribution Gross Income

$50,000

$50,000

Subtract 7% Contribution

Subtract 25% Tax Rate

-$3,500

$12,500

$46,500

$37,500

Taxable Income

After-tax Income

-$11,625

-$3,500

Subtract 25% Tax Rate

Subtract 7% Contribution

$34,875

$34,000

Take-home Pay

Take-home Pay

Growth of $2,100 over 25 years at an 8% rate of return

Growth of $3,500 over 25 years at an 8% rate of return

$266,105

$266,105

Results: income taxes are owed on the full balance of $199,579 upon distribution. Assuming 20 percent federal tax and 5 percent state tax, the tax equals approximately $66,526 (each state tax may differ and require more or less taxes withheld).

Results: a 7 percent contribution provides for $875 less in annual take-home pay per year as compared to pre-tax, which equates to $21,875 over a 25 year period. However, in a Roth IRA, you do not owe any tax on the full $266,105 when withdrawn.

Strengthen Your Saving Potential

Create a Budget Creating a budget and following it gives you a clear idea of what you are actually spending. Consider using our budget worksheet to help you monitor your monthly spending.

Consolidate Your Debt Look for easy ways to consolidate your debt and you may be able to eliminate interest payments. Take the savings you would have spent on interest payments and contribute the extra money in your retirement account.

Be Wary of Depreciation When buying luxury items, be smart. For example, when buying a car, you can buy a new one and drive it for many years, or consider buying used. This will help you avoid depreciation expense.

Take Advantage of Tax Breaks Consider contributing to an IRA or Roth IRA before you file your taxes, and try to contribute the maximum amount to your retirement account. The government created tax breaks to encourage citizens to save for retirement, so take advantage and contribute.

Look for Low-Cost Alternatives Almost everyone can find a cheaper alternative for many of the activities they enjoy. Substitute generic items for name brands, use coupons, or “bargain shop.” Small lifestyle changes can have a big impact on your spending.

Invest a Bonus or Salary Raise Place a bonus or raise in your 401(k) plan. For example, if you get a 3 percent raise, increase your contributions by at least 2 percent. You will not notice the change in your take-home pay, but the increase can greatly impact your account balance.

Eliminate Small Expenses Look at all expenses you have paid in the last six months. Were they really necessary? Can you do anything to minimize fees and investment costs? A few dollars per expense may not seem like much, but over time, small expenses can really add up.

Click here to see how small changes can make a big difference!

Understanding Your Investment Strategy

Now that you have an understanding of how your 401(k) works, the importance of contributing, and how to strengthen your saving potential, you need to know how to choose your investment strategy. For your 401(k) retirement plan to be successful two things need to happen. First, you need to contribute the right amount of money into your account and; second, your money needs to be invested properly based on your risk tolerance and time horizon. Mutual Funds You have a variety of mutual funds to choose from in your 401(k) plan. A mutual fund pools money from thousands of investors. When your money is deposited into a mutual fund, the manager of the fund will invest in a vast number of stocks or bonds from different companies. The failure of one company will not deplete the entire value of the fund. You minimize your risk by investing in a variety of companies and increase your potential to get a good rate of return.

Types of Mutual Funds

Stable Value Fund: delivers safety and stability by preserving principal and accumulated earnings. It is similar to a money market fund, but aims to offer stability and higher returns. Bond Fund: pools together certain types of bonds. A bond is essentially a loan that can be issued by a government and/or their agencies, or by corporations and asset-backed securities issuers to raise money or capital. A bond fund is typically less volatile than a stock fund. Unlike certain types of individual bonds, bond funds do not mature and are not guaranteed. Stock Mutual Fund: pools money from many investors to invest in a group of stocks from a certain variety of companies.

For example: Imagine you are in an elevator, and you have only one cable holding it. If that cable breaks, the elevator will fall to the ground floor. Compare that to having all your money invested in the stock of one company. If the company you invested in fails, your investment can depreciate to zero. Mutual fund investing is different. Imagine you are in that same elevator, but you have 60 cables holding it. If only one cable breaks, your elevator may be slower moving up or down the floors, but it will not crash to the ground floor. Such is the case with mutual fund investing in your 401(k) plan.

Understanding Your Investment Strategy

Asset Allocation Asset allocation is dividing your money into different asset classes, such as stable value, stock funds, or bond funds. Since these funds can experience gains and losses at different times, spreading your investments between funds can help balance fluctuations in your account performance. Having an effective asset allocation mix can be the most important factor in the performance of your retirement account. Diversification Diversification is a technique used to control risk by investing in different types of mutual funds that would each react differently to the same event in the market. Your risks can be minimized through diversification. For example: Let’s say you have a portfolio of funds that are heavily invested in airline companies. It is publicly announced that airline pilots are going on an indefinite strike and all flights are canceled. Share prices of airline stocks drop. In this scenario, your portfolio will experience a noticeable decline in value. However, if you counterbalanced funds weighted in the airline industry with funds weighted in the financial industry, only a portion of your portfolio would be affected.

Most investment professionals agree, although it does not guarantee against loss, diversification is a very important component of reaching long-range financial goals while minimizing risk.

Portfolio Rebalancing Portfolio rebalancing enables you to control the risk level and minimize risk. The asset mix originally created by an investor inevitably changes as a result of differing returns among various securities and asset classes. As a result, the percentage you allocated to different asset classes changes. As you can see from the example to the right, the participant started with four funds at $25 each. The participant established a portfolio of 50 percent aggressive (stocks) and 50 percent conservative (bonds) funds.

OPENING BALANCE March 31

CLOSING BALANCE June 30

Stock Fund A

$25.00 Stock Fund A

$30.00

Stock Fund B

$25.00 Stock Fund B

$35.00

Bond Fund C

$25.00 Bond Fund C

$20.00

Bond Fund D

$15.00

$25.00 Bond Fund D

Mix 50% Aggressive 50% Conservative

New Mix 65% Aggressive 35% Conservative

Over the course of three months, stock funds increased in value and bond funds decreased (they tend to fluctuate opposite each other). As a result, the participant has a new mix of 65 percent aggressive and 35 percent conservative–more risk than the participant wanted to take. This is when the participant needs to rebalance. The participant will need to sell 15 percent worth of his or her stock funds and buy into the bond funds (sell high, buy low).

Choose the Right Strategy

Now that you have an understanding of the basics of investing, let’s use this knowledge to choose an investment line-up that works for you. You have three options: manage your own investments, have a professional manage your portfolio for you, or have ATArchitect ® tactically manage it for you.

Investment Options Active Platform

You Choose and Manage

Investment Choices

OppenheimerDevelopingMarkets HartfordSmallCapGrowth T.RowePriceMid-CapGrowth T.RowePrice LargeGrowth ColumbiaMidCap Index MFS Instl InternationalEquity PrudentialSmall-Cap Value VictorySycamoreEstablished Value Vanguard500 IndexAdmiral AmericanBeacon Large Value American FundsAmericanBalanced BlackrockHigh YieldBond LoomisSaylesCorePlusBond VanguardShort-Term Inv-GradeAdmiral American TrustStable Value

HigherRisk

A hands-on approach to investing.

• Enjoy researching investments, reading prospectuses, and matching individual funds to your goals

Reward

• Have the time to monitor your portfolio

LowerRisk

Investment Facts

• Are confident in your abilities to build your own portfolio mix, diversify your investments, and use asset allocation effectively

The following pages detail the investments that youmay choose to invest in your retirement program.Whenmaking investmentdecisions, consider the lengthof timeuntil retirement, other investments (i.e.mutual funds,CDs, spouse’s retirementplan), andhowmuch risk you arewilling to take.

• Are comfortable making decisions when buying and selling your funds, and rebalancing your account during times of market volatility

895MainStreet,Dubuque, IA 52001 800.548.2994 americantrustretirement.com

Click here to view the list of investments available to you.

Choose from a list of investments from the following asset categories:

• Large Growth • Large Blend • Large Value • Mid-Cap Growth • Mid-Cap Blend

• Mid Cap Value • Small Growth

• Balanced Fund • Short-Interm Bond • Interm-Long Term Bond • High Yield Bond • Stable Value

• Small Value • International • Emerging Markets

You Choose a Managed Portfolio

Actively managed for you.

• Don’t have the time to manage your investments

Managed Alloca ti on Funds If you choose a managed portfolio, click here to determine which portfolio is best for you.

• Prefer investment professionals to allocate your funds, but you can still monitor your account and make changes to your risk level when needed

• Comfortable in choosing a portfolio that best fits your risk level and time horizon

• Prefer all research, trades, balancing, and all transational activities be made for you

Tactically managed for you.

• Are not confident in making investment decisions and want decisions made for you

• Are comfortable with someone making necessary adjustments for you made when risk levels change

• Want your account reviewed and automatically have your investments reallocated to the most appropriate fund

• Prefer to see results without doing the work

What is the ATArchitect ® ? The ATArchitect is a proprietary, sustainable retirement strategy that automatically and systematically understands your financial needs, tracks your progress, and (re)allocates your funds to your best path. It adjusts your allocation between our five ATDynamic allocation funds based on personal characteristics, ATBlueprint® calculations, and current market conditions. Your account is reviewed each week and, if necessary, ATArchitect will automatically reallocate your investments to the most appropriate fund. Why ATArchitect ® ? According to the National Institute on Retirement Security’s 2013 research report, “The Retirement Savings Crisis: Is It Worse Than We Think?,” more than two-thirds of near-retirement households are at risk of falling short at retirement. Most participants are not aware of the serious nature of their savings deficit until it is too late. Even for those who have time, information, and the resources to manage their account, it can be difficult to accomplish. Retirement planning is hampered by a lack of participant awareness and affordable, customizable management of accounts. After extensive research, the ATArchitect was created to bring an unbiased and automated management tool which utilizes back tested technology and concepts. It creates a higher level experience and measurable results exclusively for our clients. Simply put, ATArchitect is the next level of participant account management. ATArchitect ® concepts Age-only allocation invests your money based on your age alone. These types of investing models (ex. Lifestyle or Target Date funds) do not consider other factors which greatly impact your decisions, and your money is only moved when you reach a certain age range. ATArchitect considers not only your age, but other measurements from your ATBlueprint ® , including contributions, compensation, current balance, your state of residency, other retirement accounts, Social Security, market conditions, and more. Current account balance and new contributions ATArchitect can separate your current account balance and new contributions and invest them differently based on market conditions and investment principles, such as trend analysis and dollar cost averaging. This separation can have a significant impact on overall performance.

If you choose ATArchitect ® , click here to complete the form or go to www.americantrustretirement.com/atarchitect.

See How It Works!

0:41

Results Trailing returns as of 5/31/2018 1

Age 50-59

Age 29 and under

YTD 1 Yr

3 Yrs

5 Yrs Incep 2

YTD 1 Yr

3 Yrs

5 Yrs Incep 2

ATArchitect 50 0.43% 8.05%

ATArchitect 20 0.93% 11.49%

- -

- -

8.09% 5.82%

- -

- 13.92% - 13.42%

0.00% 4.47%

RelaƟve Age 20

RelaƟve Age 50

0.99% 11.67%

Age 30-39

More than Age 60

YTD 1 Yr

3 Yrs

5 Yrs Incep 2

YTD 1 Yr

3 Yrs

5 Yrs Incep 2

ATArchitect 30 0.98% 11.16%

ATArchitect 60 -0.02% 4.75%

- -

- 13.32% - 11.39%

- -

- -

5.24% 3.00%

0.72% 9.84%

RelaƟve Age 30

-0.47% 1.76%

RelaƟve Age 60

1 ATArchitect Composite Returns are gross of plan related fees (non-investment related), but net of investment related expense and any applicable ATArchitect fees of 0.15%. 2 Since inception date of 2/2016.

Age 40-49

YTD 1 Yr

3 Yrs

5 Yrs Incep 2

ATArchitect 40 0.91% 11.16%

- -

- 11.94% - 8.70%

RelaƟve Age 40

0.30% 7.12%

Keep up-to-date with your ATArchitect ® results by logging into your account at americantrustretirement.com. Or sign up for eBal and receive your account balance by email or text on a weekly, monthly, or quarterly basis!

Time to Get Started!

You have been provided all the necessary tools to start saving for your retirement. We have given you the basics: what a 401(k) is, how it works, and the advantages of participating. We helped you calculate what you need to save for retirement and select the best investment strategy for you. Now you can start saving for your retirement!

Here’s what you need to do to get started:

4

Establish a contribution amount Indicate to your employer how much you would like to contribute to your retirement account.

ATBlueprint customization form Provide us information on other retirement accounts you have and customized measurements to better determine your retirement path.

5

Complete a rollover form (if applicable) Roll over a 401(k) or IRA account from a previous employer. Note this form is needed only if you choose to transfer an outside retirement account into a new retirement account.

Choose an investment election Provide direction on where to invest your contributions and, if applicable, any contributions from your employer.

!

Select a beneficiary (online) Designate the person or persons as primary and contingent beneficiaries; those you want to receive your account balance upon your death.

Important note Contact your employer to determine if there is a deadline to submit this information.

!

Click here to complete online enrollment.

Get Enrolled–Online

Go to www.americantrustretirement.com and follow these instructions to enroll online:

1. In the Account Access section, enter your Social Security number for the User ID, and the last four digits of your Social Security number for the password and click Log In

2. Choose the alternate security questions, provide answers, and click Submit

3. Enter personal information and click Save and Continue

4. Enter beneficiary information by clicking Add

5. Click Next when complete

6. Enter contribution deferrals

7. Enter investment elections

8. Review confirmation

Note: your progress will be shown throughout the process until your enrollment is complete.

You are required to make an election regarding this plan. If you should decide to decline to participate, you will need to go online using the above instructions.

If you have any questions or would like someone to guide you through the online enrollment process, please contact an education consultant at 800.548.2994, Monday through Friday, 7:00 a.m. to 5:00 p.m. (CT).

Navigating the Website

American Trust offers an enhanced web experience that offers a fresh look and a progressive dashboard, and can be viewed on a desktop and tablet.

Access Your Account Simply go to americantrustretirement.com. If you are logging in for the first time, follow these instructions: 1. Enter user ID: your Social Security number 2. Enter password: last four digits of your Social Security number 3. Select Participant 4. Click on Login 5. Create a new login ID and password once logged in My Dashboard My Dashboard provides more detailed information about your account. It displays your account balance along with your contribution rate. You will also see an overview of your investment portfolio and any recent activity. You can perform most tasks from My Dashboard: • See an overview of your portfolio or view by fund, asset class, performance, or source • View transactions and web/VRU activity Transactions In Transactions, you have the option to manage your investments, and view history and pending requests. Within Manage Investments under Transactions, you can: • View your current balance and vested balance • Change your elections: the funds you put the money from your paycheck into • Move money: transfer the money in your account between the funds in your plan • Rebalance: make the balance match your existing target or set a new one Changes to investments can be made daily on your account within Manage Investments. All changes entered prior to 3:00 p.m. (CT) are processed at the end of the business day.

Performance In Performance, you can view your rate of return along with the returns of each investment. • My Rate of Return allows you to view personal historical rates of return by individual investment or total account balance. Returns are updated monthly • Investment Returns show the comprehensive rates of return for all available plan investments Loans and Withdrawals Explore plan loan options and payment schedules in Loans and Withdrawals. For loan availability, reference your summary plan description. • Displays option to select loan type: personal or residential • Details loan information • Lists all loans Forms and Reports In Forms and Reports, you can generate and download any plan related reports. • View any plan reports or files, if available • eStatements viewable each quarter–you will be notified by email to the address listed on file when your statement is available Personal Information and Password To change your personal information or password, click on the gear icon in the right corner of the screen on any page. You can add, change, or update:

• Phone • Email • Security questions

Automated Retirement Plan Access Line With our automated retirement plan access line, you can access your account information by calling 877.410.9984, ext. 2994 and when prompted, input your Social Security number and your personal identification number (last four digits of your Social Security number).

eBal Sign up for eBal and receive your account balance weekly, monthly, or quarterly by email or text message. To sign up, click here.

Call Us Contact us directly at 563.589.0875 or 800.548.2994 and we would be happy to assist you. Representatives are available Monday through Friday, 7:00 a.m. to 5:00 p.m. (CT).

Quarterly Statements Your quarterly account statement can be accessed online at americantrustretirement.com. Simply log into your account. Want a notification when it’s ready? Add your email address in the personal information section via the participant website. Just look for the gear icon in the right corner of the screen.

If you prefer a paper statement, you can elect it any time under your personal information settings.

Investment Information

Contents

• Investment Options

• American Trust Fund Line-up

• ATDynamic Allocation Funds Fact Sheet

• ATArchitect ® Fact Sheets

Investment Options MidWestOne 401(k) Plan Investment Platform

Investment Choices

Oppenheimer Developing Markets Fidelity Emerging Markets Index Premium Hartford Small Cap Growth Vanguard Small Cap Growth Index Prudential Small Cap Value Vanguard Small Cap Value Index T.Rowe Price Mid Cap Growth Vanguard Mid Cap Growth Victory Sycamore Established Value Vanguard Mid Cap Value Index Columbia Mid Cap Index MFS Instl International Equity TIAA-CREF Instl Equity Eq Index T.Rowe Price Large Cap Growth TIAA-CREF Large Cap Growth Index American Beacon Large Cap Value TIAA-CREF Large Cap Value Index Vanguard 500 Index Admiral American Funds American Balanced Vanguard Balanced Index Blackrock High Yield Bond Loomis Sayles Core Plus Bond Vanguard Total Bond Market Index Vanguard Short-Term Inv-Grade Admiral Vanguard Short-Term Bond Index American Trust Stable Value

Higher Risk

Reward

Lower Risk

Investment Facts

The following pages detail the investments that you may choose to invest in your retirement program. When making investment decisions, consider the length of time until retirement, other investments (i.e. mutual funds, CDs, spouse’s retirement plan), and how much risk you are willing to take.

895 Main Street, Dubuque, IA 52001 | 800.548.2994 | americantrustretirement.com

American Trust Fund LineUp MidwestOne

As of 3/31/2018

Ticker

1 Mo

Qtr

YTD

1 Yr

3 Yrs

5 Yrs

10 Yrs Exp Ra�o

—

US OE Large Growth

‐2.33

2.30

2.30

20.41

10.64

13.81

9.87

1.11

T. Rowe Price Instl Large Cap Growth

TRLGX

‐3.39

4.96

4.96

30.67

15.79

18.87

13.49

0.56

TIAA‐CREF Large‐Cap Gr Idx Instl

TILIX

‐2.73

1.42

1.42

21.19

12.83

15.46

11.27

0.06

—

US Fund Large Blend

‐2.12

‐0.98

‐0.98

12.82

8.89

11.72

8.58

0.97

Vanguard 500 Index Admiral

VFIAX

‐2.55

‐0.77

‐0.77

13.95

10.75

13.27

9.49

0.04

—

US Fund Large Value

‐1.93

‐2.55

‐2.55

9.07

7.65

10.32

7.66

1.02

American Beacon Large Cap Value Instl

AADEX

‐2.21

‐2.78

‐2.78

9.78

7.24

10.68

7.81

0.60

TIAA‐CREF Large‐Cap Value Idx Inst

TILVX

‐1.75

‐2.86

‐2.86

6.88

7.83

10.72

7.72

0.06

—

US Fund MidCap Growth

0.03

2.15

2.15

18.34

8.28

11.94

9.39

1.20

T. Rowe Price Mid‐Cap Growth I

RPTIX

0.60

4.09

4.09

20.29

11.50

15.37

12.47

0.63

Vanguard Mid‐Cap Growth Index Admiral

VMGMX

0.09

1.62

1.62

15.58

7.26

11.82

9.41

0.07

—

US Fund MidCap Blend

‐0.14

‐1.03

‐1.03

10.13

6.51

10.43

8.88

1.09

Columbia Mid Cap Index Inst

NMPAX

0.93

‐0.85

‐0.85

10.72

8.71

11.72

10.71

0.20

—

US Fund MidCap Value

‐0.47

‐2.21

‐2.21

7.30

6.75

10.06

8.87

1.13

Victory Sycamore Established Value I

VEVIX

‐0.61

‐1.10

‐1.10

9.12

10.19

13.40

11.48

0.62

Vanguard Mid‐Cap Value Index Admiral

VMVAX

‐0.28

‐1.36

‐1.36

9.53

8.40

12.39

10.63

0.07

—

US Fund Small Growth

1.17

2.28

2.28

18.07

8.77

11.88

10.28

1.27

Har�ord Small Cap Growth Y

HSLYX

1.22

2.14

2.14

17.07

8.43

13.29

12.24

0.79

Vanguard Small Cap Growth Index Admiral

VSGAX

1.51

2.09

2.09

17.39

8.12

11.44

10.92

0.07

—

US Fund Small Value

0.87

‐2.75

‐2.75

5.71

6.67

9.10

8.74

1.28

Pruden�al QMA Small‐Cap Value Z

TASVX

1.08

‐3.17

‐3.17

3.81

7.67

10.41

9.68

0.70

Vanguard Small Cap Value Index Admiral

VSIAX

0.81

‐2.07

‐2.07

7.35

7.96

11.66

10.23

0.07

—

US Fund Interna�onal

‐0.85

‐0.78

‐0.78

16.08

5.93

6.36

2.75

1.15

MFS® Instl Interna�onal Equity

MIEIX

‐1.41

‐1.37

‐1.37

16.65

6.08

6.89

4.89

0.71

TIAA‐CREF Interna�onal Eq Idx Instl

TCIEX

‐0.65

‐0.74

‐0.74

15.40

5.92

6.71

2.97

0.06

—

US Fund Diversified Emerging Mkts

‐0.73

2.01

2.01

22.90

8.23

4.45

3.03

1.40

Oppenheimer Developing Markets I

ODVIX

0.09

3.03

3.03

25.52

9.38

6.06

5.96

0.88

—

Fidelity® Emerging Markets Idx Premium

FPMAX

‐0.34

2.19

2.19

25.49

8.82

5.30

0.13

—

US Fund Alloca�on50% to 70% Equity

‐0.90

‐1.26

‐1.26

7.78

4.89

6.55

6.06

1.16

American Funds American Balanced R6

RLBGX

‐1.01

‐1.15

‐1.15

9.78

8.06

9.68

8.19

0.28

Vanguard Balanced Index Adm

VBIAX

‐0.93

‐0.88

‐0.88

8.74

6.65

8.52

7.58

0.07

—

US Fund ShortTerm Bond

0.09

‐0.34

‐0.34

0.73

1.07

1.00

2.18

0.76

Vanguard Short‐Term Investment‐Grade Adm

VFSUX

0.13

‐0.51

‐0.51

0.76

1.50

1.60

2.78

0.10

Vanguard Short‐Term Bond Index Adm

VBIRX

0.26

‐0.51

‐0.51

0.17

0.69

0.86

2.03

0.07

—

US Fund IntermediateTerm Bond

0.43

‐1.31

‐1.31

1.31

1.27

1.73

3.80

0.77

Loomis Sayles Core Plus Bond N

NERNX

0.63

‐0.69

‐0.69

2.61

2.37

2.66

5.77

0.39

Vanguard Total Bond Market Index Adm

VBTLX

0.63

‐1.47

‐1.47

1.12

1.12

1.73

3.57

0.05

—

US Fund High Yield Bond

‐0.48

‐0.97

‐0.97

3.20

3.88

3.82

6.66

1.04

BlackRock High Yield Bond K

BRHYX

‐0.43

‐0.55

‐0.55

4.77

4.91

5.26

8.25

0.53

— — — — — — — — — — 0.18 0.52 0.52 1.96 1.75 1.60 1.82 0.20

US Money Market

American Trust Stable Value

Past performance may not be indica�ve of future results. *Listed Expense Ra�o represents the fees paid to the underlying fund. Incep�on date for the Admiral shares of the Vanguard Mid‐Cap Growth, Mid‐Cap Value, Small Cap Growth, and Small Cap Value is 9/27/2011. Returns prior to that are from the fund's oldest share classes. For a prospectus on the underlying fund of the Por�olios, contact American Trust & Savings Bank, 563‐582‐1841. You should read the prospectus, if available, carefully before inves�ng.

ATDynamic Alloca�on Funds

As of 12/31/2017

Investment Philosophy

ATDynamic Aggressive Growth

%

Large Cap Equi�es Mid Cap Equi�es Small Cap Equi�es Interna�onal Equi�es

32.0 16.0 10.0 20.5

We believe that a successful process, applied consistently, is the key to investment success. Each of our ATDynamic Alloca�on Funds is built with the same basic framework and core principles: a coresatellite approach, globally diversified across mul�ple asset classes, ac�vely managed, all at a low cost. Adhering to these core tenets allows us to build efficient por�olios that remain consistent across any risk profile.

Emerging Market Equi�es IntermediateTerm Bond

5.5 0.0 2.0 2.5 3.0 1.0 1.5 6.0

Cash Equivalents High Yield Bond

Emerging Markets Debt

Commodi�es

Global Real Estate

Alterna�ves

About the Funds We have created a suite of globally diversified por�olios, built with varying levels of risk, all wrapped up in a fund format for easy selec�on. Simply select from 5 different ATDynamic Alloca�on funds and let American Trust do the rest. The funds use a coresatellite approach where nontradi�onal asset classes (satellites) are combined with a tradi�onal por�olio (Core) to improve overall diversifica�on and por�olio efficiency. We combine up to 14 different asset classes, in amounts consistent with each funds risk profile, to build a baseline alloca�on for each fund. The subadvisor, ATCapital Management, then ac�vely manages the mix of each fund–overweigh�ng asset classes that appear a�rac�ve and underweigh�ng those that do not–all within specific guidelines set for each ATDynamic Alloca�on Fund.

Total

100.0

ATDynamic Growth

%

Large Cap Equi�es Mid Cap Equi�es Small Cap Equi�es Interna�onal Equi�es Emerging Market Equi�es 4.5 IntermediateTerm Bond 14.0 Cash Equivalents 2.5 High Yield Bond 2.0 Emerging Markets Debt 2.3 Commodi�es 1.0 Global Real Estate 1.3 Alterna�ves 6.0 Total 100.0 28.0 13.0 8.0 17.5 Large Cap Equi�es Mid Cap Equi�es Small Cap Equi�es Interna�onal Equi�es Emerging Market Equi�es 3.5 IntermediateTerm Bond 33.0 Cash Equivalents 4.0 High Yield Bond 1.5 Emerging Markets Debt 1.5 Commodi�es 0.0 Global Real Estate 1.0 Alterna�ves 6.0 Total 100.0 21.0 10.0 6.0 12.5 Large Cap Equi�es Mid Cap Equi�es Small Cap Equi�es Interna�onal Equi�es Emerging Market Equi�es 2.5 IntermediateTerm Bond 51.0 Cash Equivalents 6.0 High Yield Bond 1.0 Emerging Markets Debt 1.0 Commodi�es 0.0 Global Real Estate 0.5 Alterna�ves 6.0 Total 100.0 13.0 6.5 4.0 8.5 % %

ATDynamic Moderate Growth

About the Subadvisor Founded in 2006, ATCapital Management is an SEC Registered Investment Adviser. It is a specialized investment subsidiary that provides a suite of investment strategies that include tradi�onal equity, fixed income, and balanced por�olios, as well as a series of dynamic riskbased, mul�asset class investment solu�ons. ATCapital Management is a whollyowned subsidiary of ATBancorp and is an affiliate of American Trust.

ATDynamic Conserva�ve Growth

Por�olio Returns

Wgtd Exp Ra�o

1 Mo Qtr YTD 1 Yr 3 Yrs 5 Yrs 10 Yrs Incep*

ATDynamic Conserva�ve

%

— — — 11.51

Large Cap Equi�es Mid Cap Equi�es Small Cap Equi�es Interna�onal Equi�es Emerging Market Equi�es IntermediateTerm Bond

7.0 4.5 0.0 5.0 0.0 8.0 0.0 0.0 0.0 0.5 6.0

ATDynamic Aggressive Growth

0.53 1.23 5.04 18.55 18.55

— — —

ATDynamic Growth

0.53 1.08 4.28 15.84 15.84

9.91

— — —

ATDynamic Moderate Growth

0.52 0.82 3.17 12.11 12.11

7.97

— — —

69.0

ATDynamic Conserva�ve Growth

0.52 0.58 2.01 8.42 8.42

5.69

Cash Equivalents High Yield Bond

— — —

ATDynamic Conserva�ve

0.51 0.32 0.96 4.71 4.71

3.36

Emerging Markets Debt

Commodi�es

Global Real Estate

Alterna�ves

*Incep�on Date: January 1, 2016

Total

100.0