MidWestOne Financial Group in Iowa City, Iowa, has hired a new chief financial officer.

Katie Lorenson will join the $3 billion-asset company on Aug. 31, when CFO Gary Ortale plans to retire, according to a Tuesday news release.

Lorenson, 35, joined MidWestOne in May, when the company acquired Central Bancshares in Golden Valley, Minn. Lorenson had been Central's CFO since 2011. She previously worked at accounting firm McGladrey, in its financial institutions practice.

Ortale has been CFO of MidWestOne and its banking subsidiary, MidWestOne Bank, since 2009. He joined in 1987 as controller and has also been chief risk officer and treasurer.

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