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MutualFirst Financial, Inc. Announces Receipt of All Regulatory Approvals to Convert MutualBank to an Indiana Commercial Bank Charter

Published Thursday, December 22, 2011 7:00 am by David W. Heeter, President and CEO

MutualFirst Financial, Inc. (NASDAQ: MFSF), the holding company of MutualBank, has announced that the Company and the Bank have received all required regulatory approvals for the conversion of MutualBank, from a federal savings bank to an Indiana commercial bank.  The Indiana Department of Financial Institutions issued its approval of the conversion on December 15, 2011, based on its review of the conversion application and the joint examination of MutualBank it conducted with the Federal Deposit Insurance Corporation, which will be the Bank’s primary federal regulator after the conversion is effective.  The Office of the Comptroller accepted the Bank’s notice of the charter conversion.  In addition, the Federal Reserve Bank ofChicago has approved the Company’s application to become a bank holding company upon the effectiveness of the conversion of MutualBank to a commercial bank.  The Registrant anticipates that this conversion will be effective
January 1, 2012. 

David Heeter, President and CEO of the Company said: “We are pleased to conform our financial institution charter to one that better reflects who we are, a community commercial bank serving the markets in which we have offices.  This charter conversion eliminates certain percentage of limits on the amount of our consumer and commercial lending and is expected to reduce our regulatory assessments.  After a thorough exam, we are pleased the Indiana Department of Financial Institutions and the FDIC will be our primary regulators.”

MutualBank, is well capitalized and strong by all regulatory standards.  MutualBank has thirty-two full-service retail financial centers in Delaware, Elkhart, Grant, Kosciusko, Randolph, St. Josephand WabashCountiesin Indiana.  MutualBank also has two Wealth Management and Trust offices located in Carmeland Crawfordsville, Indianaand 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 that are not historical facts, including references to the conversion date and our future regulatory costs, 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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