MutualBank in Muncie, Indiana (IN)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • MutualBank in Muncie, Indiana (IN)
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MutualBank - Overview

  • General
  • FDIC Certificate #: 27744
    Status: Active
    Federal Reserve ID: 810777
    Date Established: January 01, 1889
    WWW: http://www.bankwithmutual.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 32 (Domestic: 32, Interstate: No)
    OTS Docket #: 210
    FDIC's unique #: 40578
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Mortgage Lending Specialization
    Date of Deposit Insurance: June 09, 1952
    Last Structure Change Effective Date: January 01, 2012
    Last Structure Change Process Date: January 19, 2012
    Last Data Update: January 19, 2012
    Data Source Date: April 05, 2012
  • Location
  • Address: 110 East Charles St, Muncie, IN 47305
    County: Delaware
    Quarterly Banking Profile Region: Chicago
    FDIC Geographic Region: Chicago
    FDIC Supervisory Region: Chicago
    FDIC Field Office: Indianapolis
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: Central
    Metropolitan Statistical Area (MSA): Muncie, IN (#5280)
    Core Based Statistical Area (CBSA): Muncie, IN (#34620)
    CBSA Metro Statistical Area: Muncie, IN (#34620)
  • History of Changes
  • Change in Primary Regulatory Agency
    Change in Entity Type
    Change in Supervisory Agency
  • Financial Summary
  • Total assets: $1,424.6 mil
    Equity capital: $144.1 mil
    Deposits held in domestic offices: $1,167.2 mil
    Return on assets (ROA): 0.32% ($4.6 mil)
    Quarterly return on assets: 0.41% ($5.8 mil)
    Return on Equity (ROE): 3.18% ($4.6 mil)
    Quarterly return on equity: 4.05% ($5.8 mil)
    Net income: $4.6 mil
    Quarterly Net income: $1.5 mil
    Pretax return on assets: 0.38% ($5,413.3 mil)
    Quarterly Pretax return on assets: 0.51% ($7,265.3 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 386Total employees (full-time equivalent)
  • $1,424,563Total assets
  • $54,121Cash and due from depository institutions
  • $26,421Interest-bearing balances
  • $330,879Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $901,830Net loans & leases
  • $13,811Loan loss allowance
  • $0Trading account assets
  • $32,025Bank premises and fixed assets
  • $6,525Other real estate owned
  • $5,999Goodwill and other intangibles
  • $1,424,563Life insurance assets
  • $93,184All other assets
  • $1,280,462Total liabilities and capital
  • $1,167,236Total liabilities
  • $1,042,948Total deposits
  • $1,167,236Interest-bearing deposits
  • $86Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $101,451Trading liabilities
  • $0Other borrowed funds
  • $11,775Subordinated debt
  • $144,101All other liabilities
  • $144,101Total equity capital
  • $144,101Total bank equity capital
  • $0Perpetual preferred stock
  • $58Common stock
  • $126,731Surplus
  • $17,312Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $31,838Income earned, not collected on loans
  • $0Earning assets
  • $4,402Long-term assets (5+ years)
  • $1,259,130Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $1,427,205Volatile liabilities
  • $1,427,935Insider loans
  • $912,187FHLB advances
  • $1,405,251Loans and leases held for sale
  • $47,023Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $119,270Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $150,261Restructured Loans and leases
  • $11,020Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $61,303Total interest income
  • $19,209Total interest expense
  • $42,094Net interest income
  • $13,100Provision for loan and lease losses
  • $14,006Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $14,006Additional noninterest income
  • $39,468Total noninterest expense
  • $21,763Salaries and employee benefits
  • $7,991Premises and equipment expense
  • $9,714Additional noninterest expense
  • $3,532Pre-tax net operating income
  • $1,855Securities gains (losses)
  • $807Applicable income taxes
  • $4,580Income before extraordinary items
  • $0Extraordinary gains - net
  • $4,580Net income attributable to bank
  • $0Net charge-offs
  • $4,580Cash dividends
  • $10,071Sale, conversion, retirement of capital stock, net
  • $7,904Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.87%Yield on earning assets
  • 1.53%Cost of funding earning assets
  • 3.35%Net interest margin
  • 1.11%Noninterest income to earning assets
  • 3.14%Noninterest expense to earning assets
  • 0.21%Net operating income to assets
  • 0.32%Return on assets (ROA)
  • 0.38%Pretax return on assets
  • 3.18%Return on equity (ROE)
  • -2.31%Retained earnings to average equity (YTD only)
  • 1.05%Net charge-offs to loans
  • 130.08%Credit loss provision to net charge-offs
  • 1.65%Efficiency ratio
  • 68,285Assets per employee
  • 3.69%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 172.58%Loss allowance to loans
  • 1.51%Loss allowance to noncurrent loans
  • 43.38%Noncurrent assets plus other real estate owned to assets
  • 2.69%Noncurrent loans to loans
  • 3.48%Net loans and leases to deposits
  • 77.26%Net loans and leases to core deposits
  • 81.29%Equity capital to assets
  • 10.12%Core capital (leverage) ratio
  • 8.97%Tier 1 risk-based capital ratio
  • 13.08%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $1,427,205Average earning assets
  • $144,091Average equity
  • $1,258,388Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $431,136Managed Assets
  • 1Number of Accounts
  • $282,104Personal trust and agency accounts
  • $138,733Employee benefit-defined contribution accounts
  • $43,417Employee benefit-defined benefit accounts
  • $4,158Other retirement accounts
  • $36,035Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $59,761Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 1100Number of Accounts
  • $0Personal trust and agency accounts
  • $36,000Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $149,032Other retirement accounts
  • $15,483Corporate trust and agency accounts
  • $103,399Other fiduciary accounts
  • $10,564Fiduciary accounts held in foreign offices

List of branches

  • 32 Indiana Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    040578Mutualbank110 East Charles St, Muncie, IN 47305January 01, 1889Full Service Brick and Mortar
    12632002918 W Jackson St Branch2918 West Jackson Street, Muncie, IN 47304January 01, 1889Full Service Brick and Mortar
    2263201Mcgalliard Road & Oakwood BranchMcgalliard Road & Oakwood, Muncie, IN 47304January 01, 1889Full Service Brick and Mortar
    3263202110 W Pearl Street Branch110 West Pearl Street, Winchester, IN 47394January 01, 1889Full Service Brick and Mortar
    100263203State Rd 32 West Branch2101 South Tiger Drive, Yorktown, IN 47396January 01, 1889Full Service Brick and Mortar
    1012632042000 South Madison Street Branch2000 South Madison Street, Muncie, IN 47302January 01, 1889Full Service Brick and Mortar
    1022632053333 North Broadway Branch3333 North Broadway, Muncie, IN 47303January 01, 1889Full Service Brick and Mortar
    10340682219 West Market Street Branch219 West Market Street, Warsaw, IN 46580January 01, 1913Full Service Brick and Mortar
    104263206North Webster BranchCrystal Flash Road & State Road 13 North, North Webster, IN 46555January 01, 1889Full Service Brick and Mortar
    105263207East Center Street Branch2034 E Center St, Warsaw, IN 46580June 30, 1988Full Service Brick and Mortar
    106263208Bethel3701 West Bethel, Muncie, IN 47304March 01, 1992Full Service Brick and Mortar
    107238911Albany Branch401 West State Street, Albany, IN 47320August 01, 1969Full Service Brick and Mortar
    10842551Marion Third St100 W Third Street, Marion, IN 46952July 20, 1936Full Service Brick and Mortar
    109276925South Western Avenue Branch3240 South Western Avenue, Marion, IN 46953October 01, 1997Full Service Brick and Mortar
    110276926Gas City Branch1010 East Main Street, Gas City, IN 46933December 08, 1997Full Service Brick and Mortar
    11142857315 N Branch445 West 250 North, Warsaw, IN 46580May 17, 2004Full Service Brick and Mortar
    1134414304710 East Jackson Street Branch4710 East Jackson Street, Muncie, IN 47302November 01, 2000Full Service Brick and Mortar
    1162767141020 N Baldwin Ave Branch1020 North Baldwin Avenue, Marion, IN 46952January 01, 1915Full Service Brick and Mortar
    118444877Syracuse Branch612 South Huntington Street, Syracuse, IN 46567June 13, 2005Full Service Brick and Mortar
    119208182Winchester East Branch870 East Washington Street, Winchester, IN 47394January 16, 1989Full Service Brick and Mortar
    120229157Wabash Branch1307 North Cass Street, Wabash, IN 46992August 07, 1995Full Service Brick and Mortar
    12240987Plaza4100 Edison Lakes Pkwy, Ste 100, Mishawaka, IN 46545January 01, 1889Full Service Brick and Mortar
    123265249411 W Mckinley Branch411 West Mckinley, Mishawaka, IN 46545January 01, 1889Full Service Brick and Mortar
    124265250402 W Cleveland Rd Branch402 West Cleveland Road, Mishawaka, IN 46545January 01, 1889Full Service Brick and Mortar
    125265251River Park2427 Mishawaka Avenue, South Bend, IN 46615January 01, 1889Full Service Brick and Mortar
    128424810Erskine742 East Ireland Road, South Bend, IN 46614January 12, 2004Full Service Brick and Mortar
    12942523Portage2850 West Cleveland Road, South Bend, IN 46628January 01, 1893Full Service Brick and Mortar
    130276823Western Avenue Branch23761 Western Ave, South Bend, IN 46619January 01, 1893Full Service Brick and Mortar
    131439674Church St121 South Church Street, Mishawaka, IN 46544April 04, 2005Full Service Brick and Mortar
    13244142225990 County Road Branch25990 County Road #6, Elkhart, IN 46514June 30, 1999Full Service Brick and Mortar
    133491865Dunlap4330 Elkhart Road, Goshen, IN 46526Febuary 01, 2008Full Service Brick and Mortar
    134495444Elkhart Branch5200 Middlebury Street, Elkhart, IN 46516September 01, 2008Full Service Brick and Mortar

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