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

18,057

18,754

18,542

18,270

18,509

17,902

17,738

14,325

13,120

13,109

12,753

12,249

12,184

11,866

11,515

11,220

11,215

11,190

10,919

10,866

11,035

10,904

10,817

10,766

10,885

11,080

11,040

11,023

11,336

11,532

11,648

11,579

12,636

12,992

13,415

13,684

14,908

15,242

Investment securities

2,623

2,604

2,730

2,766

2,772

2,732

2,693

2,166

1,801

1,771

1,745

1,720

1,629

1,572

1,610

1,689

1,989

1,739

1,692

1,670

1,716

1,760

1,793

1,767

1,824

1,833

1,705

1,745

2,374

2,054

2,123

2,200

-

-

-

-

-

-

Federal Home Loan Bank stock

156

180

178

178

145

144

127

190

120

118

117

115

114

111

111

105

-

118

118

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Mortgage-backed securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,964

2,108

1,733

1,420

1,721

Federal Home Loan Bank stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

140

-

134

131

200

127

124

125

127

127

107

107

109

91

107

102

105

69

91

Other investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

201

216

-

-

-

-

-

-

-

Other investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

170

151

138

278

291

Deposits with financial institutions

56

79

68

88

63

58

63

67

40

28

37

25

16

18

22

20

3

2

2

7

4

5

3

5

12

4

7

6

22

14

6

10

23

17

30

21

48

55

Total interest and dividend income

20,892

21,617

21,518

21,302

21,489

20,836

20,621

16,748

15,081

15,026

14,652

14,109

13,943

13,567

13,258

13,034

13,313

13,049

12,731

12,683

12,893

12,803

12,744

12,738

12,848

13,041

12,877

12,901

13,442

13,908

14,100

13,898

14,614

15,250

15,806

15,682

16,725

17,403

Interest Expense
Deposits

3,685

3,960

3,901

3,573

3,317

2,892

2,540

2,107

1,912

1,804

1,634

1,465

1,396

1,332

1,283

1,285

1,276

1,277

1,334

1,372

1,450

1,450

1,527

1,701

2,084

2,333

2,410

2,510

-

-

-

3,226

-

-

-

-

-

-

Passbook savings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

13

13

-

-

27

36

34

34

35

Certificates of deposit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,523

2,624

-

-

3,459

3,718

3,829

4,123

4,173

Daily Money Market accounts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

102

92

-

-

127

121

121

157

155

Demand and NOW accounts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

226

227

-

-

-

-

-

-

-

Demand and NOW accounts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

292

323

270

242

256

Federal Home Loan Bank advances

1,017

1,175

1,322

1,436

1,431

1,302

1,174

962

926

909

883

886

911

901

897

895

852

822

724

665

664

571

516

474

402

320

299

263

386

533

597

603

700

741

844

900

1,319

1,668

Other

224

237

251

251

247

225

299

95

50

49

48

45

67

97

91

92

86

134

133

128

141

142

143

144

158

148

148

149

192

196

197

200

205

208

209

210

233

234

Total interest expense

4,926

5,372

5,474

5,260

4,995

4,419

4,013

3,164

2,888

2,762

2,565

2,396

2,374

2,330

2,271

2,272

2,214

2,233

2,191

2,165

2,255

2,163

2,186

2,319

2,644

2,801

2,857

2,922

3,332

3,593

3,750

4,029

4,559

4,854

5,252

5,368

6,110

6,524

Net Interest Income

15,966

16,245

16,044

16,042

16,494

16,417

16,608

13,584

12,193

12,264

12,087

11,713

11,569

11,237

10,987

10,762

11,099

10,816

10,540

10,518

10,638

10,640

10,558

10,419

10,204

10,240

10,020

9,979

10,110

10,315

10,350

9,869

10,054

10,396

10,554

10,314

10,614

10,878

Provision for loan losses

575

425

475

475

600

570

500

450

350

370

300

200

250

250

150

200

-

-

-

-

0

0

500

350

-950

750

550

950

1,350

1,475

1,850

1,350

4,000

3,200

1,700

4,200

2,225

1,525

Net Interest Income After Provision for Loan Losses

15,391

15,820

15,569

15,567

15,894

15,847

16,108

13,134

11,843

11,894

11,787

11,513

11,319

10,987

10,837

10,562

10,974

10,816

10,540

10,518

10,638

10,640

10,058

10,069

11,154

9,490

9,470

9,029

8,760

8,840

8,500

8,519

6,054

7,196

8,854

6,114

8,389

9,353

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

-

109

422

-

-

406

106

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Service fee income

-

-

-

1,808

-

-

-

1,564

-

1,651

1,714

1,400

1,707

1,515

1,528

1,374

1,629

1,496

1,464

1,358

1,598

1,518

1,538

1,341

1,607

1,447

1,364

1,571

1,443

1,644

1,752

1,653

1,794

1,862

1,726

1,604

1,829

1,887

Net realized gain on sales of available for sale securities

-

-

-

444

-

-

-

154

-

45

279

129

161

92

652

118

13

57

126

240

-123

75

211

150

0

453

43

339

1,256

1,095

283

197

208

1,764

1

74

-380

35

Commissions

-

-

-

1,196

-

-

-

1,262

-

1,260

1,318

1,196

1,286

1,259

1,404

1,100

1,176

1,164

1,142

1,121

1,380

1,228

1,178

1,082

1,157

1,041

1,174

982

980

859

1,036

1,019

856

879

1,005

950

896

1,082

Equity in losses of limited partnerships

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-84

-128

-126

-126

-124

-128

-120

-127

-107

-116

-33

-127

-127

Net gains on sales of loans

1,722

1,778

1,341

1,030

902

853

736

635

1,162

1,010

945

770

866

1,548

1,407

940

911

1,238

1,121

906

919

444

382

104

198

84

134

436

482

541

715

132

2,037

245

349

91

845

209

Net servicing fees

-

158

139

-

-

129

154

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net servicing fees

-

-

-

149

-

-

-

150

-

109

96

101

93

91

78

70

69

67

70

68

69

66

3

-24

86

63

435

-28

-77

-16

-142

32

219

-337

18

26

33

31

Increase in cash value of life insurance

-

-

-

-

-

-

-

-

-

275

288

272

-

284

306

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Increase in cash value of life insurance

300

312

325

302

315

313

322

289

-

-

-

-

-

-

-

284

291

292

313

288

292

295

304

267

454

321

304

317

335

340

336

340

349

346

374

350

630

372

Loss on sale of other real estate and repossessed assets

11

28

-29

-29

-9

23

11

-68

-87

-14

-75

54

-65

72

-188

-29

-31

-30

32

-82

268

-81

-178

-62

-268

-108

37

19

-41

30

-160

-393

-68

-22

-62

-273

-159

-326

Total other-than-temporary losses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

768

98

292

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-45

575

0

141

Net impairment losses recognized in earnings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

193

98

150

Other income

1,881

236

183

185

288

170

148

449

83

98

105

202

133

205

706

140

305

109

98

118

237

157

104

143

120

57

97

127

258

12

13

68

115

34

18

49

14

54

Total non-interest income

8,283

5,849

5,704

5,085

5,296

5,039

4,804

4,435

4,848

4,434

4,670

4,124

4,466

5,066

5,893

3,997

4,363

4,393

4,366

4,017

4,640

3,702

3,542

3,001

3,692

3,274

3,460

3,637

4,510

4,381

3,705

2,928

5,386

4,664

3,313

2,646

3,483

3,067

Non-interest Expenses
Salaries and employee benefits

10,386

8,826

8,541

8,560

8,895

8,152

8,628

7,289

7,098

6,871

6,534

6,726

7,335

6,941

6,660

6,491

6,571

6,341

6,084

6,530

6,099

6,088

5,500

5,873

6,127

5,282

5,532

5,551

5,426

5,273

5,293

5,343

5,586

5,240

5,340

5,523

5,314

5,331

Net occupancy expenses

1,010

1,005

996

1,044

986

1,087

995

897

773

788

763

809

469

592

601

646

589

553

515

603

494

494

600

670

615

244

534

694

595

641

527

576

468

583

659

674

628

581

Equipment expenses

636

574

584

647

625

635

698

556

466

442

438

427

399

448

484

487

489

479

410

453

529

450

435

458

461

453

457

466

500

454

493

399

401

505

502

480

480

494

Data processing fees

643

680

639

651

686

669

676

593

622

604

541

554

524

486

492

489

442

432

428

444

377

373

402

406

350

326

371

384

361

361

387

430

375

373

379

401

363

387

ATM and debit card expenses

584

590

598

562

582

664

573

471

391

457

410

418

409

391

356

380

373

381

347

335

344

370

316

290

325

296

270

241

233

258

257

229

237

241

228

307

294

296

Deposit insurance

-

-3

-

-

-

209

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deposit insurance

-

-

209

207

-

-

225

257

-

181

168

213

164

165

225

234

228

225

212

232

240

239

270

270

254

251

316

324

320

312

314

314

321

330

332

507

465

453

Professional fees

1,342

484

472

408

463

460

472

782

679

372

408

396

538

419

380

470

404

378

383

530

375

376

439

438

421

318

319

336

429

420

426

341

472

433

376

359

305

243

Advertising and promotion

353

296

345

329

331

416

499

360

318

290

303

312

158

350

269

427

186

296

378

333

503

387

306

301

370

386

438

270

389

488

372

353

404

453

300

300

296

306

Software subscriptions and maintenance

-

723

816

-

-

702

691

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Software subscriptions and maintenance

-

-

-

769

-

-

-

594

-

525

567

569

548

540

549

480

446

443

433

427

432

418

386

416

381

391

311

369

325

384

395

367

332

338

313

317

377

402

Intangible amortization

178

187

200

214

246

316

375

163

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

229

255

-

-

280

305

308

327

352

Other real estate and repossessed assets

86

47

70

53

49

51

44

45

46

39

33

47

26

-39

14

72

68

92

87

127

184

161

151

135

244

180

176

173

190

247

281

163

196

279

306

160

148

287

Other expenses

1,548

1,074

1,174

1,115

1,214

1,213

2,287

970

577

876

1,052

935

491

1,070

1,210

1,240

1,306

1,034

1,096

1,004

1,293

1,052

1,048

990

1,124

1,073

1,178

1,105

2,321

1,066

933

1,079

2,274

982

961

858

972

1,021

Total non-interest expenses

17,472

14,483

14,644

14,559

15,019

14,574

16,163

12,977

11,937

11,445

11,217

11,406

11,481

11,363

11,240

11,416

11,102

10,654

10,373

11,018

10,870

10,408

9,853

10,247

10,672

9,200

9,902

9,913

10,605

10,133

9,933

9,594

10,177

10,037

10,001

10,200

9,973

10,159

Income Before Income Tax

6,202

7,186

6,629

6,093

6,171

6,312

4,749

4,592

4,754

4,883

5,240

4,231

4,304

4,690

5,490

3,143

4,235

4,555

4,533

3,517

4,408

3,934

3,747

2,823

4,174

3,564

3,028

2,753

2,665

3,088

2,272

1,853

1,263

1,823

2,166

-1,439

1,899

2,261

Income tax expense

-426

1,052

878

855

881

910

584

585

3,294

1,132

1,342

1,025

1,067

1,208

1,333

778

897

1,330

1,315

1,036

747

1,183

1,133

803

1,351

1,092

916

777

662

915

628

427

215

375

485

-746

279

487

Net Income

6,628

6,134

5,751

5,238

5,290

5,402

4,165

4,007

1,460

3,751

3,898

3,206

3,237

3,482

4,157

2,365

3,338

3,225

3,218

2,481

-

-

-

-

2,823

2,472

2,112

1,976

2,003

2,173

1,644

1,426

1,048

1,448

1,681

-693

1,620

1,774

Preferred stock dividends and accretion

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

346

271

278

362

360

362

362

362

361

852

451

450

450

450

Net Income Available to Common Shareholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,751

2,614

2,020

2,477

2,201

1,834

1,614

1,643

1,811

1,282

1,064

687

596

1,230

-1,144

1,170

1,324

Earnings Per Common Share
Basic

0.77

0.72

0.67

0.61

0.62

0.63

0.49

0.51

0.19

0.51

0.53

0.44

0.43

0.48

0.56

0.32

0.44

0.44

0.44

0.34

0.51

0.38

0.37

0.28

0.35

0.31

0.26

0.23

0.24

0.26

0.18

0.15

0.10

0.09

0.18

-0.17

0.17

0.19

Diluted

0.77

0.71

0.66

0.60

0.61

0.62

0.48

0.50

0.19

0.50

0.52

0.43

0.43

0.47

0.55

0.31

0.43

0.43

0.43

0.33

0.49

0.37

0.36

0.27

0.35

0.30

0.25

0.22

0.23

0.26

0.18

0.15

0.10

0.09

0.18

-0.17

0.17

0.19

Dividends Per Common Share

0.20

0.20

0.20

0.20

0.20

0.18

0.18

0.18

0.18

0.16

0.16

0.16

0.16

0.14

0.14

0.14

0.12

0.12

0.12

0.12

0.10

0.08

0.08

0.06

0.06

0.06

0.06

0.06

0.06

0.06

0.06

0.06

-

0.06

0.06

0.06

0.06

0.06

Service Fees [Member]
Non-interest income

-

2,081

2,041

-

-

2,024

1,959

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Commissions [Member]
Non-interest income

-

1,147

1,282

-

-

1,121

1,368

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-