MidWestOne Financial Group, Inc. (NASDAQ:MOFG) Q4 2023 Earnings Call Transcript

Also very comfortable with the build that we’ve had in our government/SBA group and we’re expecting more volume there from a gain on sale in 2024 as well as our customer hedging or swap program showed a nice trajectory increase in ’23 and we believe that, that will continue in ’24. So overall, we’re feeling pretty good about that noninterest income line. The other that we’re investing a heck of a lot in and Len and his team have done an outstanding job in building out our treasury management offering and department both from a talent standpoint, but also a product and then also a structural standpoint. And so we’re looking for more there as well in ’24.

Brian Martin: And if you kind of frame up kind of the — if the run rate today is in the $9.5 million, $10 million level, if you kind of look a year out, can you kind of give some guidepost around where you think you could get that to? Given maybe it’s going to happen as you say, kind of throughout the year and just kind of building it. But if you kind of look out a year, kind of where you exit ’24 in terms of kind of run rate on fees as you move forward.

Charles Reeves: Yes. No. Ultimately, I think we can move this in the high single-digit to potentially double-digit levels as we exit 2024.

Brian Martin: Got you. Okay. Perfect. That’s helpful, That’s really all I had. So I appreciate you guys taking all the questions. Thank you.

Charles Reeves: Great. Thanks, Brian.

Barry Ray: Thanks, Brian.

Operator: We have no further questions. I’ll turn the call back to the management team for any closing remarks.

Charles Reeves: Thank you for everyone joining the call here today. Thank you to our team members for all of their work in 2023, a year of transformation for this organization and we look forward to what 2024 and beyond brings to this institution. Thank you, everyone.

Operator: Thank you, everyone, for joining us today. This concludes our call and you may now disconnect your lines.