Trust Services

Simply better Trust Services

MidWest One .bank

The MidWest One Bank Wealth Story

We promise to make you our number One priority!

MidWestOne History

For over 80 years, we have helped individuals, families and institutions grow, manage and preserve their wealth. At MidWestOne, we utilize our vast resources and community bank roots to deliver comprehensive wealth management ser- vices that are specifically tailored to your needs. Our professionals have earned long-term cus- tomer relationships by helping our customers and communities succeed. The communities we serve are not only the inspiration of our organi- zation, 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. When you walk into any of our MidWestOne Bank locations, you’ll probably see our mission statement prominently displayed: “Take care of our customers and those who should be”. It is not only our mission it is who we are. We passionately pursue success for our neigh- bors, and we support organizations that create opportunities in our communities. That’s be- cause we believe the positive actions of each one of us contributes to the success of us all. While we started as a small community bank in Iowa, we have since grown to nearly 60 locations across Iowa, Minnesota, Wisconsin, Colorado and Florida. Visit us soon to experience for your- self how MidWestOne is simply better banking! Community

Your MidWestOne Team

Why MidWestOne?

Using MidWestOne Bank’s philosophy and exper- tise, you leverage the resources of an institutional investor along with the benefits of fiduciary ser- vices. With MidWest One Trust Services, you’ll receive: • Collaborative team approach to wealth man- agement • Disciplined investment process • Transparent performance and fee reporting Our team includes investment professionals, attorneys, bankers and administrators—all working together to create savvy solutions for you and your family. Our commitment to you is to passionately pursue your financial objectives as if they were our own. • MidWest One Bank Wealth Management began managing assets for individuals, foundations, endowments and corporations in 1934 • Current assets under management exceed $1.6 billion • Our professionals work with over 2,500 clients across nearly 60 locations • We offer Investment Management, Financial Planning, Fiduciary Trust Services, Brokerage and Insurance solutions • Our customers enjoy exclusive Private Bank- ing benefits › Strategic borrowing › Premium banking services

Working together as One team

Your MidWestOne team includes investment professionals, attorneys, bankers, and admin- istrators—all working together to create savvy solutions for you and your family. Our com- mitment to you is to passionately pursue your financial objectives as if they were our own. For many of our clients, our trust officers become like members of the family, providing guidance and comfort during times of change. Our administrative, legal, operational, and investment professionals’ many years of expe- rience enable us to leverage resources to create tailored solutions for you and your family.

Twin Cities wealth specialists

Justin Parker, JD, CFP® Vice President, Trust Manager

“When advising my clients, I stick to my unwav- ering belief to always acting in their best inter- ests.” Justin Parker is Vice President, Trust Officer, for the Minnesota and Wisconsin Regions of MidWe- stOne Bank and is based in Golden Valley, Min- nesota. With finance and law degrees, Justin is a Certified Financial Planner® and an experienced wealth planner with a demonstrated history of advising high net worth clients on wealth protec- tion and transfer strategies. Justin has directly ad- vised a gamut of professionals, including C-suite executives, business owners, physicians, college professors, teachers, farmers, and many others with a focus on estate planning, tax, and trust.

1934 when it all began $1.6B assets under mgt

2500 clients 57 locations

Sean P. Wenham First Vice President, Regional Trust Manager

“I believe in bringing an adventurous spirit into everything I do and use daily practices to reinforce my core values which include fitness, nature, learning, authenticity, mindfulness, and acceptance.” Sean Wenham is First Vice President, Regional Trust Manager, for the Minnesota and Wiscon- sin Regions of MidWestOne Bank and is based in Golden Valley, Minnesota. Sean is a career wealth-management professional with over 20 years of experience leading specialized teams to meet the unique financials needs of individuals, families, foundations, and businesses. Sean believes the success of any professional rela- tionship lies in sharing a clear understanding of values, goals, and objectives; and in engaging dialog supported by a systematic process for delivering personalized information and results.

Portfolio Management

David Schultes Private Banker

XXXXXXX Portfolio Manager

“I believe in bringing an adventurous spirit into everything I do and use daily practices to reinforce my core values which include fitness, nature, learning, authenticity, mindfulness, and acceptance.”

“I believe in bringing an adventurous spirit into everything I do and use daily practices to reinforce my core values which include fitness, nature, learn- ing, authenticity, mindfulness, and acceptance.”

XXXXX is Private Banker and XXXXXX.

XXXXX is Portfolio Manager and XXXXXX.

Communication

Private Banking

We believe that communication is the key to success in creating and following a long-term plan. We base the frequency and type of com- munication on what works best for you. Our experience has clearly shown that the best long- term planning is achieved by collaborative prob- lem-solving and dialogue because you, your family, your assets, your documents and your circumstances are constantly changing, and that cascades to other changes such as account re-titling, beneficiary designations, account structure, etc. which need to change, too. That is why we are committed to regular updates and reviews.

The high-level financial concierge services you’ll receive as a private banking client will make banking easy to understand and financial endeavors easy to tackle. It’s the kind of banking relationship you’ve always wanted:

• Premium banking services • Experienced professionals • Dedicated single point-of-contact

• 24/7 assistance and access to financial experts • Holistic and consultative financial guidance • Financial goal-based planning • Free financial planning consultation

Our Team Approach and Services

We put you at the center of all we do

Together with other professionals, such as your CPA and personal attorney, we coordinate our specialized expertise and resources to custom- ize solutions for your current situation and life goals:

Investment Management

• Individualized portfolios • Concentrated stock holding strategies • Multi-manager accounts • Comprehensive due diligence selection and review • Institutional and Foundation Investments • Stock option analysis • Wealth and legacy protection • Fiduciary management • Charitable giving services • Trusteed IRAs • Trust and estate plan development and administration • Trust tax services • Real estate protection Trust Services, Wealth and Estate Planning

Risk Management

• Life Insurance • Long-term care • Annuities

Financial Planning

• Asset allocation guidance • Cash flow analysis • Retirement planning • Education planning

Private Banking

• Credit • Cash management • Mortgages

Investment Management • Individualized portfolios • Concentrated stock strategies • Multi-Manager accounts

Trust & Estate Planning • Estate plan development • Wealth protection/transfer • Fiduciary mgt. • Real estate property mgt.

Private Banking • Credit

• Cash mgt. • Mortgages

Client

Financial Planning • Asset allocation • Cash flow analysis • Education planning

Risk Management • Life insurance • Long-term care • Annuities

Wealth Planning

ternal audit to ensure compliance to procedures and policies and to identify opportunities for improved controls; a bi-annual external audit; and examinations annually (alternate years for State of Iowa and FDIC) to make sure that we are operating with the most current regulatory stan- dards and continually evolving best-practices in the industry. Owning a business can create unique issues for estate planning and retirement. When the time comes, we will assist you with succession planning strategies to protect and enhance your wealth. We leverage our expert team to help you devel- op a plan that will achieve your goals. At Mid- WestOne we combine sophisticated financial planning and disciplined investment manage- ment to create a custom solution for your specific needs. You don’t know what you don’t know. Thank goodness we do.

Fiduciary standard

MidWestOne Bank’s Trust Department uses the fiduciary standard as the default for all accounts for which we direct the investments. Unlike the suitability standard used in the brokerage arena to match investment products and allocations with clients’ objectives, a fiduciary standard goes further to ensure that all aspects of the investment strategy are in the best interests of the client. As a bank Trust Department within a highly regulated industry, we employ many different internal controls. In addition to dual control measures, system user-access limitations, rigor- ous internal system and account reconciliation processes, and other day-to-day operational controls, our Department reports to the Trust Committee. This Board of Directors appointed committee meets monthly to monitor a variety of key metrics to ensure we are following our policies and procedures. We have an annual in- Oversight

What keeps you awake at night?

As your trusted partner, we’ll help you navigate and plan for unfolding life events… • Care for aging parents, special needs children or other family members • Simplify life to spend more time in the moment • Plan for the long term to enjoy your retir- ment years worry-free • Join with family members to create a family legacy • Manage a farm, commercial real estate, or other real property • Plan for your family’s transfer of wealth • Eliminate the burden of administering an estate or trust • Avoid conflict among family with differing views As your trusted partner, we’ll help you manage your wealth to… • Simplify your accumulated assets • Have someone take care of your finances to enable extended, care-free travel • Hire a good investment manager and enjoy a competitive cost structure • Get an early start on the path to living life on your terms • Ensure your investments and obligations are managed to help your spouse (just in case) Wealth management knows no age

Investment Services

• Active managers for asset classes where efficient management is possible • Managing the asset class mix to take advan- tage of market opportunities and control risk

Our investment philosophy: process drives investment success

Our portfolio development process is based on sound asset allocation research and combines multiple asset classes to develop a well-diversi- fied, efficient core portfolio. We recognize that markets change, so our process allows for tacti- cal shifts within each portfolio, but within limits, to ensure our short-termmarket views do not significantly alter a given risk level. Our security selection process focuses on companies that are selling at attractive valuations, and are also improving their economic margins, essentially ignoring market hype and quarterly noise. An in- vestment process, grounded in principles, keeps us focused on the keys to success and enables us to avoid return chasing and trend following. Diversification is the cornerstone of our portfolio management process, and it drives the majority of the decisions we make. Portfolios are built with exposure to multiple asset classes. Many of which have low correlations with each other, thereby reducing the overall volatility of your portfolio. Investment management is risk management Markets go up and down and investment styles go in and out of favor. Chasing the latest fad is a loser’s game. We believe that an investment process should be built on sound investment principles that can stand the test of time. Active management can enhance returns and control risk We believe that active management can be ben- eficial to reduce risk and potentially enhance return versus a passive approach. When appro- priate, we emphasize: Investing is a long-term endeavor

Costs matter

Though we emphasize active management, we do so with an eye on cost. Over time the cost of delivering an investment strategy matters. These include manager costs, trading costs, and often the indirect cost of taxes paid on investment transactions. As part of our management and due diligence process, we seek to: • Utilize proprietary strategies for asset classes in our area of expertise to reduce the cost of outside management • Seek low-cost, active third-party managers • Utilize institutional funds or overlay managers in areas outside of our expertise • Use passive strategies when actively man- aged strategies are not cost effective Our Investment Strategies Rather than a static approach focusing only on traditional stocks and bonds, each strategy is as- sembled with a baseline allocation across differ- ent asset classes–dynamically managed to take advantage of evolving opportunities–all within guidelines set for the strategy’s risk profile. Con- structed using different underlying securities, we provide investors with three unique investment solution at a low cost.

Mutual Funds Investment Strategies: Exchange Traded Funds Managed Overlay

Mutual Fund strategy invests in a portfolio of mutual funds (MF) and may include traditional (equities, fixed income, and cash equivalents) and nontraditional (satellites and alternatives) asset classes. Strategies have “normal” portfolio weights (up to 100 percent) in equity and sat- ellite asset classes, and are actively managed within preestablished ranges.

• Aggressive Growth (MF) • Growth (MF) • Moderate Growth (MF) • Conservative Growth (MF) • Conservative (MF)

Exchange Traded Funds strategy invests in a portfolio of exchange traded funds (ETFs) and may include traditional (equities, fixed income, and cash equivalents) and non-traditional (sat- ellites and alternatives) asset classes. Strategies have “normal” portfolio weights (up to 100 per- cent) in equity and satellite asset classes and are actively managed within pre-established ranges.

• Aggressive Growth (ETFs) • Growth (ETFs) • Moderate Growth (ETFs) • Conservative Growth (ETFs) • Conservative (ETFs)

The Managed Overlay strategy is our version of the Unified Managed Account (UMA). We com- bine our philosophy of prudent asset allocation, active portfolio management, and low-cost implementation with the transparency and efficiency that comes with owning a portfolio of individual securities. Utilizing a combination of securities strategies, outside manager models, ETFs, and mutual funds, we build a sophisticat- ed, multi-disciplined investment solution that is sure to meet the needs of even the most sophis- ticated account.

• Aggressive Growth-Overlay • Growth-Overlay • Moderate Growth-Overlay • Conservative Growth-Overlay • Conservative-Overlay

Disciplined strategies

Step Three:

Our investments process

Implement the plan

Our investments process is designed to pro- vide investors with comprehensive investment solutions that meet their goals and objectives. We build efficient portfolios across varying risk levels, implement them efficiently, and manage them consistent with that risk level. Investors only need to worry about their goals and objec- tives‒we take care of the rest. Step One: Gathering the Inputs: The most important step in the investing process is identifying and defin- ing investment goals and objectives, risk toler- ance, time horizon, and other personal consid- erations. We document this information for each of your accounts with a formal Investment Policy Statement (IPS). The IPS outlines your overall investment profile, provides a summary of each investment strategy to be used, identifies any special considerations, and outlines the respon- sibilities of each party as it relates to the ongo- ing management of your portfolio. Step Two: Building the Portfolio: Asset allocation is the practice of spreading risk across a range of investment classes and management styles in order to balance the effect of any single aspect of the market. History has proven that proper asset allocation is the prime determinant of how your portfolio performs. We employ a multi-style investment approach seeking maximum return relative to a given risk target. These asset alloca- tion guidelines are continually monitored and reviewed to ensure suitability for your goals and objectives. Set objectives Develop asset allocation

Building out specific strategies to include in your portfolio requires many considerations. Should exposure be gained through passive or active strategies? What managers are most appro- priate? How do account circumstances affect strategy selection? How will trading be handled? We build a broad implementation plan that fits within the constraints of your asset allocation guidelines, and we ensure that the execution remains consistent with your stated objective and account circumstances. Step Four: As the investment manager of your trusted assets, we performmultiple roles. We manage individual security strategies to save cost and improve efficiencies. We provide overlay trading to integrate third party manager models and account level mandates. We select and monitor outside managers when used in your portfolio. We coordinate all these pieces to bring a com- prehensive investment solution that is tailored to your needs. Manage and monitor How one manages a portfolio is a function of the role they are playing in the investment process.

Communication

Communication is key for any good relationship, especially when it comes to managing your wealth. Our job is to make sure we are exceed- ing your expectations. Not only will we provide ongoing communication we will provide you analysis and review to prove we are staying on task to meeting your goals. Our communication is as customized as the services we provide and the method we communicate is determined by you. • Communicate with all parties (client, invest- ment manager, accountant, attorney, etc.) • Meet face-to face with you and appointed experts on a regular basis • Communicate with family members when appropriate • Report (standard and online) all financial information Investment management is a fluid process and client circumstances change over time. We con- tinually review your objectives and review your portfolios to ensure we are meeting your needs as outlined. If your goals and objectives change, so will your portfolio.

Your Trust Matters

Why MidWestOne?

MidWestOne Bank Wealth Management began managing assets for individuals, foundations, endowments and corporations since 1934. MidWestOne uses the fiduciary standard as the default for all accounts for which we direct the investments. Our administrative, legal, opera- tional and investment professionals many years of experience enable us to leverage resources to create tailored solutions for you and your family. Our commitment to you is to passionately pur- sue your financial objectives as if they were our own. • Effective investment process • Investment performance • Competitive fee structure • Collaborative team approach • Committed partnership • Institutional share class pricing, active and index platforms • Robust due diligence, and actively managed portfolios