MutualFirst Financial Announces Appointment

Wednesday, June 30, 2010

 Muncie, Indiana, June 29, 2010 – On behalf of MutualFirst Financial, Inc. (NASDAQ:MFSF), the holding company of MutualBank, Chief Executive Officer, David Heeter, announces the appointment of Dianne Harris as Vice President, Audit Manager. Harris, a native of Marion, has 20 years experience in bank auditing, compliance and management. She has served as the Audit Manager for MutualBank since 2007.

Harris was a 1985 valedictorian of Marion High School. She graduated summa cum laude from the Honors College at Ball State University with a degree in economics. She is a Certified Community Bank Internal Auditor.

Harris's community involvement includes serving on the Board of Directors for Youth for Christ, Tri Kappa and the Marion Lyric Club. Harris and her husband, Tim Harris, live in Marion. They are members of College Wesleyan Church.

MutualFirst Financial, Inc. and MutualBank, an Indiana-based financial institution, has thirty-three full service retail financial centers in Delaware, Elkhart, Grand, 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.