MUNCIE, Ind., May 2, 2019 /PRNewswire/
-- MutualFirst Financial, Inc. (NASDAQ: MFSF), the
holding company for MutualBank, held its twentieth annual meeting
of stockholders at the Bank's headquarters on May 1, 2019. It was the 130th annual
meeting for MutualBank.
The company acted on four items of business during the annual
meeting. The first order of business was to re-elect
David W. Heeter and Brian C. Hewitt as directors for a three-year
term, Edward C. Levy as director for
a two-year term and Michael J.
Marien as director for a one-year term. The second
order of business was the approval of an advisory (non-binding)
resolution to approve executive compensation as disclosed in the
Proxy Statement. The third order of business was the approval of
the Company's 2019 Omnibus Incentive Plan, and the fourth item of
business was to ratify the appointment of BKD, LLP as the company's
independent registered public accountant for the fiscal year ending
December 31, 2019.
CEO Heeter commented, "2018 was an exciting year, with the
successful acquisition and integration of Universal, in addition to
our Company's earnings momentum. We are making progress on our
strategic plan, and increased performance is the result."
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 operations 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.
Brian C. Hewitt. Mr.
Hewitt is a former director of Universal Bancorp and BloomBank, a
position he held from 2013 until its merger with the Company in
February, 2018. Mr. Hewitt is currently a practicing attorney with
the firm of Hewitt Law and Mediation
LLC. Mr. Hewitt represents businesses and individuals in the areas
of estate and trust planning and litigation as well as mediation,
real estate, business and commercial law. His legal background
serves the Board as a resource for matters of real estate, contract
law and business transactions.
Edward C. Levy. Mr.
Levy has been an officer and owner of Freeman-Spicer Financial
Services, Inc., a business finance and leasing company for more
than five years and is a 50% owner and managing partner in two real
estate partnerships. During 2010, he became chairman of
One-Touch Automation, Inc., a company engaged in home and business
automation and security systems in Indiana. He is a partner in
CVM Productions, Inc., a video production company specializing in
corporate marketing and advertising videos and live sports
broadcasting for network distribution. Mr. Levy is also
president of Visible Electronics, Inc. a lighting and electronic
company. The company has also developed lifts for the RV
Industry. 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 Wealth Management 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 also important to his service on our
Audit/Compliance Committee.
Michael J. Marien.
Mr. Marien is employed by R. W. Baird, 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 Wealth
Management business of MFB Corp. to his service on our Wealth
Management Committee and Compensation Committee. His
participation in our local business community for over 30 years
brings knowledge of the local economy and business opportunities to
the Bank.
MutualFirst Financial, Inc. is the parent company of MutualBank,
an Indiana-based financial
institution since 1889. MutualBank has thirty-nine full-service
retail financial centers throughout Indiana. MutualBank has two offices located in
Fishers and Crawfordsville, Indiana specializing in wealth
management and trust services and a loan origination office in
New Buffalo, Michigan. MutualBank
also operates a wholly owned subsidiary named Summit Mortgage which
operates out of Fort Wayne,
Indiana. MutualBank provides a full range of financial
services including commercial and business banking, personal
banking, wealth management, trust services, investments and
internet banking services. The Company's stock is traded on the
NASDAQ National Market under the symbol "MFSF". Additional
information can be found online at www.bankwithmutual.com.
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.
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SOURCE MutualFirst Financial, Inc.