MutualFirst Reports Strong Q3

The parent company of Muncie-based MutualBank has announced record net income of $6.1 million during the third quarter, compared to $5.4 million during the same period last year.

MutualFirst Financial Inc. (NASDAQ: MFSF) says mortgage production for the third quarter increased $31.8 million, or 61 percent, from the third quarter of 2018.

"We are pleased with our record earnings and earnings momentum," said David Heeter, president and chief executive officer of MutualFirst Financial. "This quarter continued an improvement in earnings with increased non-interest income and controlled non-interest expense.  We believe our earnings momentum can continue as we strive to efficiently drive shareholder value."

Net income for the nine months ending September 30 was $17.1 million, compared to $13.6 million a year ago.

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