Business & Personal Checking Accounts – MutualBank

 

TARP Warrant Repurchase

Indiana Community Bank – MutualBank

Published Wednesday, September 28, 2011 7:00 am by Chris Cook

Muncie, Indiana - MutualFirst Financial, Inc. (NASDAQ: MFSF) (the “Company”), the holding company of MutualBank (the “Bank”), announced today that it has completed the repurchase of a warrant held by the United States Department of the Treasury.  The 10-year warrant was issued in December 2008, as part of the Company’s participation in the Treasury’s Capital Purchase Program (a part of the Troubled Asset Relief Program or TARP), and entitled the Treasury to purchase 625,135 shares of MutualFirst Financial, Inc. common stock at an exercise price of $7.77 per share. 

The warrant was repurchased by the Company pursuant to a letter agreement between the Treasury and the Company for a total repurchase price of $900,194, or $1.44 per warrant share.  The repurchase price was based on the fair market value of the warrant as agreed upon by the Company and the Treasury.

MutualFirst Financial President and CEO David W. Heeter said, “The repurchase of the warrant ends our participation in Treasury’s TARP Capital Purchase Program.  Buying back the warrant at this agreed-upon price underscores our commitment to increasing long-term value for our stockholders.  The capital position of the Company continues to be strong, exceeding the “well capitalized” thresholds established by regulators.” 

MutualFirst Financial, Inc. and MutualBank, an Indiana-based financial institution, has thirty-two 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.

 

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.

Free Checking & Rewards

Mutual News
  • Heartbleed Details

    The OpenSSL Heartbleed vulnerability has been in the news...

    Tuesday, April 15, 2014

    READ ARTICLE

View Archived Releases
Mutual Blog

Personal Banking Security Measures for the 21st Century

clientuploads/21st-Century-Securitysquare180.pngMany of us are constantly connected to the online world these days. This means that the potential is there for our computers and personal information to be compromised which greatly increases the risk of ID theft and financial fraud to occur. However, by taking some basic precautions you can significantly reduce the risk of your computing environment being compromised. Following these simple guidelines should help your computing environment become more secure:

Keep your computer and software up-to-date

Keep your computers and network equipment secured with the latest software updates and enable automatic updates whenever possible.  This includes updates to third party applications such as Java and Adobe Products.  

Use hard drive encryption

In the event your machine is lost or stolen, drive encryption can prevent others from accessing the data on your hard drive.  The purpose is to encrypt or scramble your data on your machine so that it can only be read with your encryption key.Many operating systems offer drive encryption.  Microsoft offers Bitlocker and Apple has FileVault. There are also other third party encryption offerings.   

Enable your firewall

Think of the firewall to your computer as the fence around your property.  If there were multiple holes cut in the fence, it wouldn’t be very useful at keeping people out.  Firewalls are typically enabled by default on Windows machines, but double check to make sure it’s on.  Here are instructions to do so if you are using Windows 7. Only allow necessary applications inbound access through your firewall. The same principles apply to your network firewall. 

Configure your screensaver

Set an auto-locking screensaver so your account gets locked out after a few minutes.  This is useful if you forget to lock your machine when are away from it. On Windows machines this can usually be done by pressing the “Windows Key” and the “L” button simultaneously.

Make your passwords stronger

The longer and more complex the password, the better.  At least 16 characters with a combination of upper and lowecase letters, numbers, and special characters is a best practice.

Configure your router

Use the strongest wireless security available (currently WPA2-CCMP) with a long and complex password for your wireless network. Disable WPS on your wireless router for greater security.   

 


Think that some secure banking information
of yours has been compromised?

If you suspect that your personal financial information has been compromised, call MutualBank Customer Support at 800-382-8031.


 

Monday, April 7, 2014

READ BLOG ENTRY

View Archived Posts

Connect with us:

(800) 382-8031

  • Facebook
  • Youtube
  • twitter
  • RSS Feed