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MutualFirst Financial (MFSF) Company Profile

Updated Sep 9, 2019
MutualFirst Financial has the following business profile:
Company's Full Name:MutualFirst Financial Inc.
Short Name:MutualFirst Financial
Trading Ticker Symbol:MFSF
Primary Exchange:NASDAQ
Headquarter City/Country:Indiana, IN
Primary Industry Sector:Finance
Seconday Sub-sector:Major Banks
Main Business Areas: Finance, Major Banks, Financial Services, Regional US Banks, Bank
Dividend Payments:Dividend History

Market and Trading Information for MutualFirst Financial

The following details were available for trading and market data about the stock of MutualFirst Financial as of writing:
Current Share Price:$30.99
Previous Year's Closing Price:$26.57
Percentage Price Change (YTD):16.64%
Market Cap:$265.02 million
52-week Price Range:$24.28 - $38.9
Dividend Per Share:$0.78
EPS (TTM):2.48
Price-Earnings (Trailing):12.48
Price-Earnings (Forward):11.97

Company Profile and Business Description for MutualFirst Financial

MutualFirst Financial, Inc. (MutualFirst), incorporated on October 15, 1999, is the bank holding company of MutualBank (MutualBank or the Bank). The Bank offers financial services through approximately 30 full service retail financial center offices in Allen, Delaware, Elkhart, Grant, Kosciusko, Randolph, Saint Joseph and Wabash counties in Indiana. MutualBank also has trust offices in Carmel and Crawfordsville, Indiana and a loan origination office in New Buffalo, Michigan. The Bank has a subsidiary, Summit Mortgage, Inc., that operates a mortgage banking firm in Fort Wayne, Indiana. In addition, it originates residential mortgage and commercial loans. MutualWealth and MutualFinancial Advisors are the wealth management and brokerage divisions of the Bank that provide a range of fee-based financial services, including trust, investment, insurance, broker advisory, retirement plan and private banking services, in its market areas. Trust services are provided to both individual and corporate customers, including personal trust and agency accounts, employee benefit plans and corporate bond trustee accounts.

Lending Activities

The Bank's loans carry either a fixed- or an adjustable-rate of interest. The Bank's net loan portfolio includes a total of approximately $1.1 billion. Its loan portfolio consists of real estate loans, which includes commercial, commercial construction and development, consumer closed end first mortgage and consumer open end and junior liens, and other loans, which includes consumer loans, auto loans and others. The Bank originates loans secured by first mortgages on owner-occupied, one- to four-family residences in its market areas for purchase, refinance, home equity and construction purposes. Its consumer loans on residential properties include home equity lines of credit and subordinate home improvement loans. The Bank offers a range of multi-family and commercial real estate (CRE) loans for acquisition and renovation, which are secured by the real estate and improvements financed, and the collateral ranges from industrial and commercial buildings to churches, office buildings and multi-family housing complexes. MutualBank provides a range of commercial loans for the purpose of construction or development of commercial real estate. It offers a range of secured consumer loans, including auto, boat and recreational vehicle loans, and loans secured by savings deposits. It also offers credit cards and unsecured consumer loans. The Bank originates loans through referrals from real estate brokers and builders, marketing efforts, existing and walk-in customers, and through the subsidiary, Summit Mortgage, Inc. It originates consumer loans in Indiana and contiguous states through its indirect lending program. The indirect lending consumer portfolio consists of loans for autos, boats and recreational vehicles. The Bank has net loans of approximately $1.07 billion.

Investment Activities

The Bank's investment securities consist of the United States Agency securities, mortgage-backed securities, collateralized mortgage obligations, municipal securities and corporate obligations. The Bank's mortgage-backed securities portfolio consists of securities issued under Government-sponsored agency programs. Its investment portfolio is under the management of its subsidiary, Mutual Federal Investment Company. Mutual Federal Investment Company holds, services, manages and invests that portion of the Bank's investment portfolio as may be transferred from time to time by the Bank to Mutual Federal Investment Company. The Bank's total securities available for sale amount to approximately $258.73 million.

Sources of Funds

The Bank's sources of funds are deposits, borrowings, payment of principal and interest on loans, interest earned on or maturation of other investment securities and funds provided from operations. The Bank offers deposit accounts to consumers and businesses having a range of interest rates and terms. Its deposits consist of savings deposit accounts, negotiable order of withdrawal (NOW) account and demand accounts and certificates of deposit. The Bank has total deposits of approximately $1.09 billion.

Subsidiary Activities

The Bank's insurance agency subsidiary, Mishawaka Financial Services, Inc., is engaged in the sale, as agent, of life insurance and credit-life and health insurance to the Bank's customers and the general public. Its other subsidiary, Summit Service Corporation, is a service company that controls the subsidiary, Summit Mortgage, Inc., an Indiana corporation that originates and sells consumer closed end first mortgage loans.

110 E Charles St

Peer / Competitor Companies of Major Banks Sector

Along with MutualFirst Financial Inc., the following other peer (competitor) companies also exist within the same Major Banks - Finance sector whose company profile and dividend history is as follows:

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