Business Banking Booklet 2020
Simply better Business Banking
MidWest One .bank
The MidWest One Story
We promise to make you our number One priority
For more than 80 years, we have earned long-term customer relationships by helping our customers and communities succeed. We believe that the com- munities we serve are not only the inspiration of our organization, but the purpose behind our existence. That’s why customers like you are at the heart of everything we do.
We take care of our customers…and those who should be
Why MidWest One ? Family owned, MidWestOne Bank is a community bank in the truest sense: a sound financial institu- tion led by experienced professionals attuned to your business and eminently qualified to partner with you in reaching your goals. With strength comes flexibility. We adjust quickly to dynamic client needs—from business to business, client to client, year after year. Distinguished as a leader in new product devel- opment, MidWest One has a wide array of creative lending, deposits, and transaction products to help meet your objectives. Our exceptional cash man- agement, investment services, and wealth manage- ment solutions give you the tools to manage your finances even better. Local decision-making, quick turn-around, and flex- ibility make us a top financial services provider and lender. Our professionals promise to develop part- nerships and work closely with our clients. We are very proud of our history and growth, and we look forward to expanding our horizons in the future.
When you walk into any of our MidWest One locations, you’ll probably see our mission statement promi- nently displayed. “Take care of our customers and those who should be,” is not only our mission, it is who we are.
We passionately pursue success for our neighbors, and we support organizations that create oppor- tunities in our communities. That’s because we believe the positive actions of each one of us con- tributes to the success of us all. While we started as a small community bank in Iowa, we have since grown to 58 locations across Iowa, Minnesota, Wisconsin, Colorado and Florida. Visit soon to experience for yourself how MidWest One is simply better banking.
Loans and Lines of Credit
Whatever your credit needs may be, we have a solution for you at MidWest One . You can trust that a commercial banker will build a long-term relation- ship with you to understand your business and help you achieve your goals.
Business Line of Credit
An operating line of credit can help you be prepared for changing business and cash flow cycles. Once approved, you can access your line of credit when- ever you need it, pay interest on what you use, and repay the principal when it works for you.
technology, we have the resources and expertise to maximize your potential.
Business Aquisition Loans Business is about opportunity, and sometimes growing your business is all about acting quickly in the moment. MidWestOne is able to support merg- ers and aquisitions transactions with the appropri- ate financing and the attention to detail this kind of business growth requires. Agriculture is one of our communities’ most import- ant industries. We understand its challenges and demands, and we want to see our local farmers and agribusinesses succeed in an arduous, seasonally driven industry. Talk to one of our Ag-Commercial bankers for operating loans and lines of Credit, livestock loans, equipment and facilities leases and loans, and farm real estate loans. We’re happy to customize a loan to meet your immediate and long- term needs in all things agricultural. Our lenders specialize in Iowa Agricultural Development Author- ity Loans (IADA), Iowa Financing Authority Loans, Farm Service Agency Loans (FSA), and guaranteed farm loans. Agricultural Loans
Keeping up with the latest equipment and tech- nology can be a challenge. At MidWest One , we are personally committed to your business success, offering affordable loans to purchase or repair the equipment you need. Plus, we make our own lending decisions and service our own loans for fast, trustworthy results. Ask any of our lending special- ists to tailor a lending program that works for you and your budget. Every business needs the right space in which to thrive. That’s why we offer our business clients a number of commercial real estate loans. We prom- ise competitive rates with flexible terms to meet any budget. Whether you want to build from the ground up or purchase an existing property, our experts are here to guide you through the process. Development Loans MidWestOne prides itself with supporting business- es that are ready for growth. Whether you need to expand your facilities, hire and train more employ- ees, add new equipment or upgrade to the latest Commercial Real Estate Loans
Small Business Administration Loans (SBA)
Small businesses are the backbone of our neighbor- hoods and communities, and that’s why we choose to participate as SBA lenders. Through SBA we can help businesses obtain capital for new start-ups, or to expand or purchase existing businesses when tra- ditional financing isn’t a good fit . Your MidWest One banker will help match you to the best SBA option including 7(a), Patriot Express, SBA Express, and 504 SBA loan programs. Simplify life while improving efficiency in your records system. Your Business ScoreCard Rewards Visa® Credit Card offers you the utmost flexibility to make purchases worldwide when and where you need to, and features reliable, local service. You can be confident putting the strength of Visa® behind your business. Detailed spending reports, card-by- card transaction details, and online access help you get the most out of your business card program. Plus, with a Business ScoreCard Rewards Visa® cred- it Card, you can earn points on all your purchases and redeem them for valuable items like cash back, gift cards, travel discounts, merchandise, and more. Business ScoreCard Rewards Visa Credit Card
Taking care of our customers, and those who should be.
Business banking should be simple and convenient. and provide you the options you need to MidWe- stOne believes checking accounts are not one size fits all, that’s why we offer four different business checking accounts. Choose between Standard Checking, Interest Checking, Non-Profit Checking, and Analysis Checking. All of our checking accounts come with; electronic statements, Debit cards with chip technology, Online cash manager, online bill
pay, mobile banking with text alerts and Touch ID fingerprint security, mobile deposit, and free inte- gration with QuickBooks. Business Savings Maintaining a solid savings account can keep your business prepared for anything. From unexpect- ed emergencies to expansion opportunities, this account makes it easy for your business to be one step ahead. Standard add-on features include online cash manager, bill pay, mobile banking with text alerts and Touch ID fingerprint security, mobile deposit, and electronic statements.
This savings account can yield investment-level earnings, with limited check writing as well, so you can have easy access alongside your increased earn- ings. Its tiered-rate structure rewards larger balances with higher rates to help you increase your savings faster than you can with a regular savings account.
MidWest One offers expense management to help your business electronically process, approve and audit employee credit cards. Features include; map- ping transactions to your company’s specific general ledger and cost center system; reimbursement for mileage and out-of-pocket expenses, receipt imag- ing and the ability to create and customize a report to upload directly to your accounting system. No matter the size of your business, we have an ex- pense management solution to fit your needs. If you are looking to create efficiencies and earn rewards on your account payables, a MidWest One Accounts Payable card programmay be the solu- tion for your business. With an accounts payable card, a card number is issued and assigned to a specific vendor for use with recurring orders such as inventory purchases. Purchases for each vendor are itemized on separate statements and all vendor transactions roll up to your corporate billing for one efficient payment. Plus, you earn one point for every dollar in net purchase volume. Accounts Payable Cards
Certificate of Deposit
Make the most of your company’s assets with a CD. These risk-free investments usually earn greater rates than savings, yet maintain FDIC insurance. Choose the term length that best suits your busi- ness needs and the money will grow all on its own. Credit Card Services Online Business Credit Card Management The eZBusiness Card Management solution pro- vides your company the ability to oversee and manage your credit card accounts via access to a robust online program. View real-time transactions, adjust credit limits, make payments frommultiple checking accounts, view statements immediately, and performmaintenance all with this efficient and comprehensive tool.
Merchant Payment Processing
Accepting credit, debit, and prepaid cards maximiz- es sales and profits. Utilizing MidWest One ’s plan to
process payments adds the highest level of personal service and customization. At MidWestOne you have access t the latest technology available for your credit and debit card processing needs including: Touchtone, Mobile, Internet, software/PC process- ing, as well as terminal-based products. We tailor programs to fit the needs of various retail, service, and manufacturing companies. Increase sales by adding convenience for your customers, re- duce your cost of accounts receivable, and speed up the collection of your payments. Reduce your risk of fraud and expense with chip cards and mobile pay- ments enabled with EMV (Europay MasterCard and Visa) and Near-Field Communication (NFC) capable equipment, such as Apple Pay. Treasury Management MidWest One ’s treasury management solution offers flexible, easily tailored banking services that acceler- ate the availability of corporate cash and minimize collection time of accounts receivable. The need for large petty cash accounts, continuous employee reimbursements for travel or business purchases, expense requisitions, and the need to write numerous checks throughout the month can be eliminated with our Business credit and debit cards. This account simplifies your recordkeeping system, includes benefits such as purchase warranty and automatic rental insurance for automobiles, and can be arranged to include security safeguards to limit employee use. Plus, earn rewards with a ScoreCard Credit Card you can use for travel, gifts, and more. Business Debit and Credit Cards
State-of-the-art services that create efficiency, convenience, and security.
Business Online Cash Manager & Bill Pay
Save your business time and money. It’s safe and secure. With 24-hour online Cash Manager, you or your authorized employee can perform important cash management functions–putting decision-mak- ing abilities at your fingertips while reducing ad-
ministrative time. In addition Business Bill Pay via your Business Online Cash Manger account enables you to set up automatic payments. No more writing checks or buying stamps. There are many options within Bill Pay that allow you to customize to your business needs.
Business Mobile Banking
Use MidWest One ’s mobile banking app to manage your accounts, transfer funds, approve payments, deposit checks, and more all from the convenience of your smart phone.
Sweep Accounts (REPO), Line of Credit Sweeps, Overdraft Sweeps, and Zero Balance Accounts (ZBA).
E-statements are the safe and green way to receive your monthly statements via business online bank- ing on your office computer.
This Online Cash Manager service allows you to quickly and safely initiate wire transfers to a non-MidWest One Bank account. Online wires may be either domestic or international, both repetitive and non-repetitive.
Remote Deposit Capture
With remote deposit capture you can scan images of checks right in your office and submit those images electronically for deposit. There is no need to make a trip to the bank. Deposits can be made right up to 5:00 p.m. and still be credited the same day. Remote deposit is especially beneficial for the business with a remote location. Deposits can be made immedi- ately without traveling to the bank and then trans- ferred.
We have the latest technology available for your credit and debit card processing. We offer touchtone processing, mobile processing, internet processing, terminal-based and software/PC based processing.
As technology advances every day, it becomes easi- er and easier for criminals to create legitimate-look- ing fraudulent checks. Positive Pay is a system designed to stop any fraudulent items from clearing your account. Under this system, you will provide us with an issued checks file any time you have a check run. We load the file into our system, and compare each check that clears your account. If a check does not match, we present it to you for review and vali- dation. If it is fraudulent, we will return it.
Transfer excess funds between accounts based on specific dates or dollar levels—for example, to pay down on an existing line of credit or to invest over- night. Sweep processing offers an efficient means of cash-flow control for multiple accounts. We offer a variety of sweep options including Repurchase
From setup to analysis and beyond, we’re there for you every step of the way.
Automated Clearing House (ACH) Manager
ACH Manager lets you take greater control over your payables and receivables. Plus, if your business is spread over several locations, you can keep your surplus operating cash in a single, consolidated account and use the ACH system to receive and disburse operating funds to and from various loca- tions on an as-needed basis. MidWest One Bank At Work Our business banking clients may also qualify for an employee Bank-At-Work program that offers out- standing value to your staff members. Employees of our business banking clients may also enjoy a $150 bonus* with a new Power Checking account, nation- wide ATM fee refunds, and a higher interest savings account. There is no minimum balance requirement and no monthly fees. Additional Bank At Work benefits may include no annual-fee rewards credit cards, discounted rates on consumer loans with automatic payments, free fi- nancial review and retirement planning advice from an investment services professional, and more. For more details go to MidWest One .bank/bank-at- work, see your relationship banker to get started. *Offer valid for new personal Power Checking accounts only. Existing Power Checking accounts are not eligible. Offer valid through 12/31/2020. Limit one per household. You will receive $150 deposit into your Power Checking account within 15 busi- ness days once you have qualified for Power Checking rewards in one of the first three Power Checking statement cycles after account opening. The “qualification cycle” is the same as the current statement cycle. The statement cycle ends on the fourth Wednesday of each month. Power Checking qualifications in- clude: Enroll in and receive electronic statements, have at least 15 debit card purchases post and clear, have at least one direct deposit, auto debit from a third party, or an online bill payment transaction post and clear. The $150 bonus will be forfeited if account is closed within six months of account opening. Bonus will be reported to the IRS. Not valid with any other checking account offer. You are not required to open a Power Savings account to qualify for $150 bonus. A $100 minimum deposit is required to open Power Checking or Power Savings.
Trust Services MidWestOne is responsible for investing and admin- istering trust assets worth over $2.0 billion. We have over 75 highly trained, dedicated people making us one of the best-staffed financial management groups around. There are many different types of wealth manage- ment services. Our professionals can review what best fits your financial and estate planning needs. Take advantage of American Trust’s proven invest- ment expertise through one of many asset manage- ment tools. A revocable living trust is an arrangement in which a person transfers ownership of property to a trust ac- count. The trustee is responsible for portfolio review and investment decisions of the assets held in the trust. This provides the assurance of knowing you have professional portfolio management. A revoca- ble living trust gives you the freedom to control the terms of the account as changes occur in your life and after your death. An agency account is a simple standard arrange- ment allowing the bank to manage your assets. An agency provides you all of the professional man- agement, custody, bill paying, and recordkeeping available with a trust, but this arrangement ends with your death, unlike a revocable trust which can continue. Wealth Management Revocable Living Trust Investment Management Agency Account
Looking Ahead For business leaders, entrepreneurs and individuals seeking a personalized banking experience, MidWest- One is committed to helping you thrive with the ideal combination of scale and a personalized, collabo- rative approach—providing trusted, expert financial solutions. We offer a broad range of superior and state-of-the-art services. With local expertise and decision making, we cater to the business and com- munity leaders in each of the markets we serve. We look forward to discussing your financial goals and how we can help you form a plan to achieve them the simply better way. MidWestOne Financial Group, Inc. is the financial holding company for MidWestOne Bank, headquartered in Iowa City, IA. View financial information at MidWestOne.bank. MidWestOne Financial trades on the NASDAQ Global Select Market under the symbol MOFG. Locations: 34 offices―Central and Eastern Iowa 21 offices―Twin Cities Metro Area and Western WI 2 offices―Naples & Ft. Myers, Florida 1 office―Denver, CO 818 full-time employees Market Cap: $493.8 million Assets:$4.7 billion in total assets $3.5 billion in loans held for investment $3.7 billion in deposits
A custodial account is a contractual relationship where the trustee is responsible for the physical protection and safekeeping of the client’s assets while they still make all the investment decisions. This saves time and reduces paperwork by letting a professional handle the recordkeeping of assets.
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