MutualFirst Financial

MutualFirst Financial, Inc. (MutualFirst) 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.
Muncie, US
Size (employees)
391 (est)
MutualFirst Financial was founded in 1889 and is headquartered in Muncie, US

MutualFirst Financial Office Locations

MutualFirst Financial has an office in Muncie
Muncie, US (HQ)
110 E Charles St

MutualFirst Financial Data and Metrics

MutualFirst Financial Financial Metrics

MutualFirst Financial's revenue was reported to be $73.2 m in FY, 2016 which is a 6% increase from the previous period.

Revenue (FY, 2016)

73.2 m

Revenue growth (FY, 2015 - FY, 2016), %


Gross profit (FY, 2016)

64 m

Gross profit margin (FY, 2016), %


Net income (FY, 2016)

13.2 m

EBIT (FY, 2016)

43.7 m

Market capitalization (19-Jul-2017)

247.1 m

Closing share price (19-Jul-2017)


Cash (31-Dec-2016)

26.9 m


460.9 m
MutualFirst Financial's current market capitalization is $247.1 m.
USDFY, 2013FY, 2014FY, 2015FY, 2016


65.2 m66.1 m68.9 m73.2 m

Revenue growth, %


Cost of goods sold

9.2 m

Gross profit

64 m

Gross profit Margin, %


Sales and marketing expense

27.4 m

Operating expense total

39.7 m41.4 m43.1 m45.5 m


39.1 m41.4 m42.8 m43.7 m

EBIT margin, %


Interest expense

11.2 m8.9 m8.8 m9.2 m

Pre tax profit

13 m14.9 m16.8 m17.6 m

Income tax expense

3.8 m3.9 m4.6 m4.4 m

Net Income

9.2 m11 m12.3 m13.2 m
USDFY, 2013FY, 2014FY, 2015FY, 2016


25.3 m29.6 m20.9 m26.9 m


31.5 m30.9 m31 m21.2 m


1.8 m1.8 m1.8 m

Total Assets

1.4 b1.4 b1.5 b1.6 b

Accounts Payable

1.2 b

Total Debt

240.6 m

Total Liabilities

1.4 b

Additional Paid-in Capital

74.9 m77.4 m74.2 m

Retained Earnings

41.7 m50.2 m58.1 m67.1 m

Total Equity

111.6 m127.5 m137 m140 m

Debt to Equity Ratio

1.7 x

Debt to Assets Ratio

0.2 x

Financial Leverage

12.5 x11.2 x10.8 x11.1 x
USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

9.2 m11 m12.3 m13.2 m

Depreciation and Amortization

5.8 m4.1 m4.5 m5 m

Cash From Operating Activities

21.6 m12 m16.1 m18.6 m

Cash From Investing Activities

5.6 m(21.8 m)(67.7 m)(76.6 m)

Long-term Borrowings

(287.1 m)(444.2 m)

Cash From Financing Activities

(34.7 m)14 m42.9 m64 m

Interest Paid

11.1 m8.9 m8.8 m9.1 m
USDY, 2016


10.5 x


24.8 x


187.3 k


1.7 x


0.2 x

Financial Leverage

11.1 x

MutualFirst Financial Market Value History

MutualFirst Financial Online and Social Media Presence

MutualFirst Financial Company Life and Culture

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