2020 MidWestOne Financial Group, Inc. Annual Report

Navigating Turbulent Times “I f I could go back and identify the biggest issue it was really that we had no real framework to depend on.”

“From the get-go, we aligned ourselves with CDC recommendations and held steady with that. That helped the employees because they always knew that’s what we were going to go back and look at,” Moore says. “The other question was when to close lobbies and what would the customer experience be if we closed the lobbies. How do we open the lobbies while protecting our employees?” And then there were the economic impact payments from the government. “There were these significant payments coming in and with them came plenty of questions from our customers. We had to make sure we had our customer service areas ramped up so that we were able to assist with questions,” says Moore. At the heart of all of these adaptive efforts was a commitment to clear communication—for employees and for customers. “Communication was key,” Moore says. “For employees, we set up a special e-mail to use if they had questions. If an employee had a concern, they had one area to reach out to and we would make sure it was addressed.” When it came to serving customers, the bank took a personal approach. “At the onset of the Pandemic, our bankers responded by proactively reaching out to their customers and trying to determine and fill their specific needs,” says Gary Sims, Executive Vice President and Chief Credit Officer. “When we all got sent home, so to speak, our bankers were out there reaching out to our customers asking, ‘What can we do to help?’ Whether it was a Paycheck Protection Program (PPP) loan, a payment deferral, or just good counsel about how to navigate the crisis, our bankers were there for our customers.”

Susan Moore, Senior Vice President and Chief Risk Officer, remembers the feeling of flux that dominated the early period of the public health emergency when each day seemed to bring some new and unanticipated challenge. “For those first fewmonths, the rules were changing every day. The recommendations from the CDC were changing every day. We operate in five states that also had new rules, it seemed, every day,” Moore recalls. “And then you add in this layer of disagreement around masks.” Moore and Soni Harney, Senior Vice President and Chief Human Resources Officer, ran point on the bank’s organization-wide response to COVID-19. In fact, CEO Charlie Funk is quick to point to Moore and Harney as emblematic of what was required for the bank to respond effectively. “We have a lot of people who demonstrate that key quality of resilience. They just kept coming back for more. And Susan and Soni really represented that,” Funk says. “They were in charge of the business continuity taskforce. Every day there would be emails from Oskaloosa and Osceola and Conrad and Parkersburg and Denver and Naples. And they would all be about what to do about this situation. There would be days when they would have 30, 40, 50 emails about what to do. Meanwhile, they kept doing their own jobs as well. They often worked late into the night and over the weekends. Those two gave it up for the company while continuing to do their jobs very well. It’s just amazing for me to think about that.” The pace of change required quick thinking, flexibility, a commitment to keeping employees informed, and close attention to the ongoing customer experience.

“From the get-go, we aligned ourselves with CDC recommendations and held steady with that. That helped the employees because they always knew that’s what we were going to go back and look at.” — SUSAN MOORE (RIGHT) SENIOR VICE PRESIDENT AND CHIEF RISK OFFICER WITH SONI HARNEY (LEFT) SENIOR VICE PRESIDENT AND CHIEF HUMAN RESOURCES OFFICER

During this challenging period, MidWest One Bank was committed to the wellbeing of our employees. That meant more than simple messages of support from leadership. It meant tangible efforts to improve a difficult situation. Efforts included:

• Providing two paid days off plus $100 to give employees a chance to relax and recharge • Creating a bank of hours that could be used for quarantine requirements and/or school and daycare closures • Providing alternative work schedules for those with ongoing significant impact from school and daycare closures • Ensuring that all employees knew of resources available to them to support mental health • Encouraging managers to keep people engaged and to be on the lookout for signs that an individual is struggling

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