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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A new wi-fi security risk that may affect you

If you’re like most Americans, you probably access the internet most of the time from your home’s wireless network. While this is a nice convenience, having a router (the device that sends out the wi-fi connection signal) opens up some security vulnerabilities that you need to proactively protect against.

Whether your internet service provider gives you a router to use or if you have your own, from time to time there can be different types of router-based vulnerabilities that emerge, potentially putting your browsing privacy and information at risk.


A New Router Vulnerability: The Misfortune Cookie


 A new vulnerability has been discovered that affects a least 12 million home or small office routers called the Misfortune Cookie (CVE-2014-9222). This vulnerability can be exploited to give an intruder remote access to a home router and can be used to attack different devices that are connected to that router.

If the attacker can exploit this Misfortune Cookie Vulnerability on your router, the attacker will now be in the middle between you and the internet. The attacker could see all information flowing in and out of that router. This could enable them to capture usernames/passwords, sensitive banking information, and many other types of highly sensitive information flowing though the router.

 


What can you do about it?


1. Check to see if your router model is on the vulnerability list:
https://www.checkpoint.com/downloads/partners/Misfortune_Cookie_FAQ.pdf

2. Check with the maker of your router to see if they’ve released an update that fixes the Misfortune Cookie Vulnerability.

3. Enable a firewall
A firewall is a software program or piece of hardware that helps screen out hackers, viruses that try to reach your computer over the Internet. Most operating systems that come with a PC or an Apple computer have firewall capabilities. Learn more here (http://www.microsoft.com/security/pc-security/firewalls-whatis.aspx)

4. Make sure there is an “https://” at the beginning of your browser’s address bar when visiting a site.
This simply indicates that the site you are browsing has extra security protocols in place to protect your information shared on the site. This is especially important on sites where provide sensitive information (like your financial institution’s website or an online store).

5. Update all of your software regularly and use an antivirus program
Software programs also have potential to create security risks if they are not updated on a regular basis. Whenever there is an update for software you have, it’s always a best practice to install the update. The same goes for your antivirus software. Always make sure it’s up to date and running on your machine / device.

Saturday, January 24, 2015

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