MutualFirst Financial Holds Annual Meeting
MUNCIE, Ind., May 10, 2013
MUNCIE, Ind., May 10, 2013 /PRNewswire/ --MutualFirst Financial, Inc.
(NASDAQ: MFSF), the holding company for MutualBank, held its fourteenth annual
meeting of stockholders at the Bank's headquarters on May 8, 2013. It was the
123rd annual meeting for MutualBank.
The company acted on three items of business during the annual meeting. The
first order of business was to re-elect David W. Heeter, Edward C. Levy,
Michael J. Marien, and James R. Schrecongost for a term of three years to
expire in 2016. The second order of business was the approval of an advisory
(non-binding) resolution to approve executive compensation as disclosed in the
Proxy Statement, and the third item of business was to ratify the appointment
of BKD, LLP as the Company's independent registered public accounting firm for
the fiscal year ending December 31, 2013.
President and CEO David W. Heeter reported to shareholders that "2012 was a
very productive year for MutualFirst and MutualBank."
Heeter commented, "We are so appreciative of the confidence that our
shareholders and customers have in MutualBank."
MutualFirst's wholly owned subsidiary, MutualBank, ended 2012 with assets of
over $1.4 billion.
The following Directors were elected:
David W. Heeter – Mr. Heeter has served as President and Chief Executive
Officer of the Company and Chief Executive Officer of the Bank since 2003.
During the years prior to that appointment, he had served as Executive Vice
President of the Company and the Bank and as Chief Operating Officer and Vice
President of Human Resources, Marketing and Administration of the Bank. He
has been employed by the Bank since 1986. Mr. Heeter's many years of service
in all areas of the Bank's operation and his duties as Chief Executive Officer
of the Bank bring a special knowledge of the financial, economic and
regulatory challenges the Company faces, and he is well suited to educating
the Board on these matters.
Edward C. Levy. Mr. Levy has been an officer and owner of Freeman-Spicer
Financial Services, Inc., a business financing and leasing company,
Freeman-Spicer Premium Corp., a business insurance premium financing company
and Freeman-Spicer Accounting Services, Inc., a small business accounting and
computerization company for more than five years and is a 50% owner and
managing partner in two real estate partnerships. In 2005, he became an
executive officer of Take Out Foods International, Inc. based in Indianapolis,
which is engaged in the business of ordering food over the Internet. During
2010, he became chairman of the board of One-Touch Automation, Inc., a company
engaged in home and business automation and security systems in Indiana. He
had served as a director of MFB Corp. and its banking subsidiary for three
years prior to their acquisition by the Company in 2008. Mr. Levy's extensive
knowledge of investments, insurance and these regulated industries supports
the Board's and Trust Committee's knowledge in these areas. He also brings
that understanding of regulations to the Audit/Compliance Committee. Mr.
Levy's background in finance, real estate and management is important to his
service on our Audit/Compliance Committee.
Michael J. Marien. Mr. Marien is employed by City Securities Corporation, a
registered broker/dealer and investment advisor firm. He has an active FINRA
Series 7 License and Series 66 Indiana License. He retired in 2009 as Account
Manager for IT/Signode Corp., a division of Illinois Tool Works (packaging of
steel industry products and services, Glenview, Illinois), after 40 years of
service. He had served as a director of MFB Corp. and its banking subsidiary
for 21 years and was chairman of the board of MFB Corp. for five years prior
to the acquisition by the Company in 2008. Mr. Marien brings his prior
knowledge of the trust business of MFB Corp. to his service on our Trust
Committee. His participation in our local business community for 30 years
brings knowledge of the local economy and business opportunities to the Bank.
James R. Schrecongost. Mr. Schrecongost is a retired public financial
institution executive with over 40 years of financial institution management
experience. Since retiring in 2001, he served as chairman and a director of
the wealth management subsidiary of Old National Bancorp in Indiana until
2010. Old National Bancorp is a public company with securities registered
with the SEC. Mr. Schrecongost was the vice chairman, president and chief
executive officer of ANB Corporation, which owned and managed three banks and
a trust company in Indiana before it was acquired by Old National Bancorp in
2000. Mr. Schrecongost's extensive experience in the banking and trust
company business and management, financial and analytical skills and knowledge
of our market area are important to his service on the Board.
MutualFirst Financial, Inc. and MutualBank, an Indiana-based financial
institution, has thirty-one 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 business banking, 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
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.
SOURCE MutualFirst Financial, Inc.
Contact: David W. Heeter, (765) 747-2880
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