Mutualfirst financial inc, (MFSF)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Interest and Dividend Income
Loans receivable

73,623

68,474

51,231

46,785

44,190

43,522

44,028

46,095

52,728

59,952

65,864

Investment securities

10,723

10,363

7,037

6,500

7,090

7,036

7,107

8,751

8,127

6,912

5,628

Federal Home Loan Bank stock

692

606

470

441

482

603

-

-

-

-

-

Federal Home Loan Bank stock

-

-

-

-

-

-

503

450

406

349

310

Deposits with financial institutions

291

251

130

76

14

17

29

52

92

185

48

Total interest and dividend income

85,329

79,694

58,868

53,802

51,776

51,178

51,667

55,348

61,353

67,398

71,852

Interest Expense
Deposits

15,119

10,856

6,815

5,296

5,259

6,128

9,337

11,800

16,015

18,289

20,870

Federal Home Loan Bank advances

4,950

4,869

3,604

3,604

3,063

2,225

1,284

2,119

3,186

5,986

8,762

Other

963

866

192

347

481

570

603

785

833

920

991

Total interest expense

21,032

16,591

10,611

9,247

8,803

8,923

11,224

14,704

20,034

25,195

30,624

Net Interest Income

64,297

63,103

48,257

44,555

42,973

42,255

40,443

40,644

41,319

42,203

41,227

Provision for loan losses

1,950

2,120

1,220

850

125

850

1,300

6,025

13,100

7,050

6,500

Net Interest Income After Provision for Loan Losses

62,347

60,983

47,037

43,705

42,848

41,405

39,143

34,619

28,219

35,153

34,727

Non-interest Income
Net realized gain on sales of available for sale securities

1,014

804

708

-

-

-

-

-

-

-

-

Service fee income

-

-

-

6,124

5,947

5,995

5,989

6,492

6,987

7,229

7,457

Net realized gain on sales of available for sale securities

-

-

-

1,023

436

313

835

2,831

2,048

-53

754

Commissions

-

-

-

5,049

4,603

4,868

4,354

3,894

3,691

3,845

3,046

Equity in losses of limited partnerships

-

-

-

-

-

-

-

-498

-384

-510

108

Net gains on sales of loans

5,871

3,126

3,887

4,761

4,176

1,849

852

1,870

2,723

2,275

2,377

Net servicing fees

595

591

391

-

-

-

-

-

-

-

-

Net servicing fees

-

-

-

332

274

114

556

-203

-73

139

244

Increase in cash value of life insurance

1,239

1,239

1,113

1,159

1,184

1,158

1,396

1,351

1,420

1,556

1,573

Loss on sale of other real estate and repossessed assets

-19

-43

-122

-210

-111

-53

-320

-564

-426

-1,012

-1,181

Total other-than-temporary losses

-

-

-

-

-

-

-

-

723

2,078

-

Total other-than-temporary losses

-

-

-

-

-

-

-

-

-

-

5,335

Portion of loss recognized in other comprehensive income (before taxes)

-

-

-

-

-

-

-

-

530

1,237

2,779

Net impairment losses recognized in earnings

-

-

-

-

-

-

-

-

193

841

-

Net impairment losses recognized in earnings

-

-

-

-

-

-

-

-

-

-

2,555

Other income

2,485

1,055

488

1,184

630

641

401

351

217

451

146

Total non-interest income

24,921

19,574

18,076

19,422

17,139

14,885

14,063

15,524

16,010

13,079

11,972

Non-interest Expenses
Salaries and employee benefits

36,313

32,964

27,229

27,427

25,526

23,560

22,492

21,335

21,690

21,078

23,046

Net occupancy expenses

4,055

3,965

3,133

2,308

2,260

2,258

2,087

2,339

2,385

2,503

2,802

Equipment expenses

2,441

2,514

1,773

1,818

1,831

1,872

1,837

1,846

1,889

1,903

1,780

Data processing fees

2,613

2,624

2,321

1,991

1,746

1,558

1,431

1,539

1,529

1,567

1,510

ATM and debit card expenses

2,334

2,290

1,676

1,536

1,436

1,320

1,132

977

1,014

1,169

1,094

Deposit insurance

413

898

724

-

-

-

-

-

-

-

-

Deposit insurance

-

-

-

788

897

1,019

1,145

1,260

1,491

1,831

2,262

Professional fees

2,706

2,177

1,855

1,807

1,695

1,628

1,394

1,616

1,641

1,141

1,291

Advertising and promotion

1,323

1,606

1,223

1,204

1,193

1,497

1,464

1,602

1,458

1,224

1,529

Software subscriptions and maintenance

3,014

2,719

2,202

-

-

-

-

-

-

-

-

Software subscriptions and maintenance

-

-

-

2,117

1,749

1,652

1,452

1,471

1,301

1,554

1,378

Intangible amortization

779

1,100

264

420

-

-

-

-

-

-

-

Other real estate and repossessed assets

256

189

165

73

374

631

773

881

942

924

843

Other expenses

4,911

5,684

3,440

4,011

4,440

4,383

4,480

5,399

5,076

5,110

5,785

Total non-interest expenses

61,158

58,733

46,005

45,500

43,147

41,378

39,687

40,265

40,416

40,004

43,325

Income Before Income Tax

26,110

21,824

19,108

17,627

16,840

14,912

13,519

9,878

3,813

8,228

3,374

Income tax expense

2,359

2,960

6,793

4,386

4,578

3,866

4,136

2,632

329

1,676

211

Net Income

23,751

18,864

12,315

13,241

12,262

11,046

9,383

7,246

3,484

6,552

3,163

Preferred stock dividends and accretion

-

-

-

-

-

-

1,257

1,446

2,115

1,803

1,803

Net Income Available to Common Shareholders

-

-

-

-

-

-

8,126

5,800

1,369

4,749

1,360

Earnings Per Common Share
Basic

2.77

2.25

1.67

1.79

1.66

1.54

1.15

0.83

0.20

0.69

0.20

Diluted

2.74

2.21

1.64

1.76

1.62

1.49

1.12

0.82

0.20

0.69

0.20

Dividends Per Common Share

0.80

0.74

0.66

0.58

0.48

0.32

0.24

0.24

-

-

-

Service Fees [Member]
Non-interest income

8,949

7,937

6,584

-

-

-

-

-

-

-

-

Commissions [Member]
Non-interest income

4,787

4,865

5,027

-

-

-

-

-

-

-

-