Business & Personal Checking Accounts – MutualBank

 

Fully Repays TARP Funding

Published Friday, August 26, 2011 7:00 am by David W. Heeter, President and CEO

MUNCIE, Indiana – MutualFirst Financial, Inc. (the “Company”) (NASDAQ:MFSF), the holding company of MutualBank (the “Bank”), today announced that it has completely repaid funding under the TARP Capital Repurchase Plan. MutualFirst redeemed the $32.4 million of preferred stock issued to the Treasury under the TARP Capital Purchase Program (the “TARP”) in December 2008. In addition to the full redemption of the TARP investment, the Company paid a total of $4.3 million in dividends to the Treasury during the period the investment was outstanding. Also, the Treasury continues to hold warrants to purchase 625,135 shares of common stock of the Company’s common stock at a price of $7.77 per share. The Company will attempt to repurchase these warrants from Treasury in the coming weeks, providing an additional return on the taxpayers’ investment.

“Funding under the TARP program allowed added protection to shareholders and depositors at a time when there was much uncertainty in financial markets,” commented David W. Heeter, President and CEO of MutualFirst. Heeter continued. “In addition, our attempt to retire the warrants will eliminate the dilution overhang for our shareholders.”

On August 25, 2011, MutualFirst received an investment of $28.9 million in the company’s preferred stock from the United States Department of the Treasury (the “Treasury”) under the Small Business Lending Fund (the “SBLF”). The SBLF is a $30 billion voluntary program intended to encourage small business lending by providing capital to qualified community banks at favorable rates.

“The Company has been selected among healthy financial institutions to participate in this important program. We are pleased to have completed the SBLF capital infusion in support of our small business lending operations and to have completely repaid the TARP investment,” commented David W. Heeter, President and CEO. Mr. Heeter added, “We believe our participation in the SBLF program is a great opportunity for MutualFirst and MutualBank to continue to meet the credit needs of the small business community."

More details regarding the transactions described above may be found in the Company’s Current Report on Form 8-K filed on August 26, 2011, with the United States Securities and Exchange Commission.

MutualBank, an Indiana-based financial institution, has thirty-two full-service retail financial centers in Delaware, Elkhart, Grant, Kosciusko, Randolph, St. Joseph and Wabash Counties in Indiana. MutualBank also has two Wealth Management and Trust offices located in Carmel and Crawfordsville, Indiana and a loan origination office in New Buffalo, Michigan. MutualBank is a leading residential lender in each of the market areas it serves, and provides a full range of financial services including wealth management and trust services and Internet banking services. The Company’s stock is traded on the NASDAQ National Market under the symbol “MFSF” and can be found on the Internet at www.bankwithmutual.com

 

 

Statements contained in this release, which are not historical facts, are forward-looking statements, as that term is defined in the Private Securities Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from those currently anticipated due to a number of factors, which include, but are not limited to factors discussed in documents filed by the Company with the Securities and Exchange Commission from time to time.

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Proactive Steps to Take in Light of Anthem Data Breach

Chances are you are a person who has Anthem insurance coverage or you know someone who does. As a result, either you or your friend has a reason to be concerned.

A typical data breach includes a compromise of debit card numbers or partial personal identifying information. This kind of breach, though inconvenient, can typically be ‘fixed’. An initial investigation indicates that the Anthem breach includes a compromise of name, birthday and/or social security number. This kind of information is all one needs to steal someone’s identity.

According to Anthem this particular breach could affect up to 80 million people. Instead of trying to ignore this has happened or just being upset, it’s now time for you to be educated and try to protect yourself as best as you can. We have some tips that will help you accomplish that.


1. Review Your Statements


First, take a moment each month to view your eStatement or monthly statement. You can monitor your accounts throughout the month with Online Banking and the MutualBank App. Monitoring your accounts will give you the quickest opportunity to see if your accounts have been compromised. If you notice any transactions that are unfamiliar or questionable, please get in touch with your MutualBanker. Call us at 800-382-8031.


2. Be Cautious with Any Anthem Emails You Receive


Next, if you receive an email stating it is from Anthem, be cautious. Anthem’s website warns customers not to reply with information, click any links or open any attachments within the email. Anthem is not calling their customers and will not ask for information. Never give your credit card information, social security number, or other sensitive information to someone via email or over the phone.


3. Consider Freezing Your Credit


If you are a resident in Indiana, the Attorney General’s office website (http://www.in.gov/attorneygeneral/2853.htm) is offering and encouraging you to sign up for a free credit freeze with each of the three credit bureaus. A credit freeze places a hold on your credit where a new line of credit could not be obtained without you unfreezing your credit. This doesn’t affect already open credit lines like an existing credit card, yet helps to protect you against someone opening new lines of credit in your name.


4. Keep in the Know


Finally, try to keep in the loop on the Anthem Breach. The best source for current information about this breach can be found at Anthem’s Frequently Asked Questions. (http://www.anthemfacts.com/faq)

MutualBank is here to help inform you of ways to help protect against identity theft. Thank you for trusting us.

Sunday, February 15, 2015

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