MutualFirst Financial, Inc. Declares Cash Dividend Financial Data

Wednesday, November 08, 2006

FOR MORE INFORMATION CONTACT:
David W. Heeter, President and CEO
(765) 747-2880

MUNCIE, INDIANA - MutualFirst Financial, Inc. (NASDAQ:MFSF), the holding company of Mutual Federal Savings Bank, has announced that the Company will pay a cash dividend of $.15 per share for the third quarter of 2006. The dividend will be payable on December 22, 2006 to shareholders of record on December 8 2006.

Mutual Federal Savings Bank primarily serves Delaware, Randolph, Kosciusko, Grant, and Wabash Counties in Indiana. The Bank exceeds all applicable regulatory capital requirements. The Company had $990.7 million in assets and $87.9 million in total equity as of September 30, 2006. The Company's stock is traded on the NASDAQ National Market under the symbol "MFSF."