MutualFirst Financial, Inc. operates as the holding company for Mutual Federal Savings Bank, which provides various financial products and services. Its business consists of accepting retail deposits from the general public and investing those funds primarily in loans. The company offers deposit accounts, which include passbook and statement savings accounts, money market deposit accounts, noninterest bearing accounts, NOW accounts, interest checking accounts, and certificates of deposit. Its loan portfolio comprises one to four family, multi-family, and commercial real estate loans; commercial business loans; mortgage loans; and construction and development loans, as well as consumer loans, which include home equity and home improvement, auto, boat, recreational vehicle, and loans secured by savings deposits. The company also sells various insurance products. As of March 31, 2007, it operated a network of 22 retail offices located in Delaware, Randolph, Kosciusko, and Wabash Counties in northeastern Indiana. The company was founded in 1889 and is headquartered in Muncie, Indiana.
In December the company began participating in the Treasury Department’s Capital Purchase Program. Under the program the company received $32.4 million from Treasury in exchange for preferred stock.
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Bailout Bank Bio: MutualFirst Financial (Mutual Federal Savings)
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Federal Equity Investment |
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Total Revenue |
$76.0 million (2008) |
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Net Income |
-$22.1 million (2008) |
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Number of Employees |
365 |
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Corporate Headquarters |
Muncie, Indiana |
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Business Sector |
Bank |
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Officers and Directors |
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Corporate Website |
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Executive Compensation |
No federal contracts located.
No lobbying reports located.
No political contributions located.
No related articles located.
Last Updated May 29, 2009
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