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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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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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