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MUTUALFIRST FINANCIAL INC

No Longer Reporting

The company has not filed an annual or quarterly report since its FY2019 10-K, filed Mar 12, 2020. Its latest SEC filing is a SC 13D/A from May 11, 2020.

The sections below describe the company as of the FY2019 annual report.

What Did They Do?

Takes retail deposits and makes home, consumer and commercial loans for households and businesses.

How Did They Make Money?

FY2019 revenue by product or service (Non-interest income) revenue
SegmentShareRevenue
Service Fees
65%
Commissions
35%

Who Were Their Customers?

Attracts retail deposits from the general public primarily through its financial-center network and lends to consumers and commercial borrowers. Wealth-management and brokerage services are offered in the bank’s market area.

Did Revenues Turn Into Profits?

Yes. It kept 28 cents of every revenue dollar as net income in FY2019 and turned 23 cents into free cash flow.

Net income, FY2019
28% of revenue
▲ +26% vs FY2018 ($18.9M, 24%)
Free cash flow, FY2019
23% of revenue
▼ −25% vs FY2018 ($25.7M, 32%)

How Were They Changing?

Grew. Revenue grew 65% in 4 years, from $51.8M in FY2015 to $85.3M in FY2019, about 13% a year.

Revenue over time
Service Fees Commissions
$20M$10M$0

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