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MidWestOne Financial approves new share repurchase program

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MidWestOne Financial approves new share repurchase program

The board of Iowa City, Iowa-based MidWestOne Financial Group Inc. approved a new share repurchase program, allowing for the repurchase of up to $5.0 million of stock through Dec. 31, 2020.

The new buyback program replaces the old one, pursuant to which the company had repurchased 33,998 common shares for about $1.1 million since the plan's announcement in July 2016.

The prior program had authorized the repurchase of $5.0 million of stock and was due to expire Dec. 31.