MutualFirst Financial, Inc. Declares Cash Dividend

Thursday, August 20, 2009

MutualFirst Financial, Inc.

DECLARES CASH DIVIDEND

            MUNCIE, INDIANA – MutualFirst Financial, Inc. (NASDAQ:MFSF), the holding company of MutualBank, has announced the Company will pay a cash dividend of $ .12 per share for the third quarter of 2009.  The dividend will be payable on September 25, 2009 to shareholders of record on September 11, 2009.

            "Despite continuing to operate in difficult economic times, we are pleased to declare this dividend." said David W. Heeter President and Chief Executive Officer.

            The Company's subsidiary, MutualBank, is well capitalized and strong by all regulatory standards.  

            MutualBank, an Indiana-based financial institution, has thirty-three full-service retail financial centers in Delaware, Elkhart, Grant, 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.