Business & Personal Checking Accounts – MutualBank


Announcing Partial Redemption of SBLF Preferred Shares

Published Monday, April 8, 2013 by David Heeter, CEO


MUNCIE, Indiana - April 8, 2013 - MutualFirst Financial Inc., the holding company of MutualBank, announced today that the Company has redeemed 7,231 shares, or 25%, of the preferred stock that the Company issued to the Secretary of the Treasury (“Secretary”) under the Small Business Lending Fund program (“SBLF”).  The shares were redeemed at their liquidation value of $1,000 per share plus accrued dividends for a total of $7,238,030.14. 

The redemption was approved by the Company’s primary regulator and was funded with a dividend from MutualBank.  After this partial redemption, the Company and MutualBank continued to have capital significantly in excess of minimum regulatory requirements and at levels necessary to be deemed well-capitalized under applicable regulatory standards. 

“We were pleased to have been approved by Treasury to participate in the SBLF,” stated David W. Heeter, President and Chief Executive Officer of the Company.  Mr. Heeter added “Our participation in the SBLF was advantageous to the Company, particularly as we emerged from the recession with improved earnings and asset quality in 2012.  This redemption does not reflect any change in our commitment to small business lending in our market areas.”

“This partial redemption of our SBLF preferred shares is an important part of the Company’s long-term capital strategy and will reduce our annual SBLF dividends by $361,500 (based on the current 5% dividend rate), thereby increasing fully diluted EPS by $0.05 per share on an annual basis,” stated Chris Cook, Senior Vice President and Chief Financial Officer.  

Dividends on the remaining 21,692 shares of SBLF preferred stock are currently 5%.  The dividend rate may increase to 7% in 2014.  Mr. Heeter stated “Our board of directors will review the Company’s capital levels annually to consider when additional SBLF redemptions are warranted.”   All future SBLF redemptions are subject to the approval of the Company’s primary regulator. 

MutualBank, an Indiana-based financial institution, has thirty-one full-service retail financial centers in Delaware, Elkhart, Grant, Kosciusko, Randolph, St. Joseph and WabashCounties 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 business banking, 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

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 ( 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. (

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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