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Mutualbank

Muncie, IN · Cert 27744

FDIC · 39 branches

Q4 2019

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q4 2019, the quarter ended December 31, 2019, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

Mutualbank

Muncie, IN · Cert 27744

FDIC · 39 branches

Q4 2019

$2.1BAssets
$1.5BLoans
$1.6BDeposits
$236.7MEquity
Loan mix
67%RE $845.7M11%C&I $138.4M23%Consumer $286.3MQ4 2018Q4 2019
Deposit mix
83%Interest-bearing $1.3B17%Noninterest $0.3BQ4 2018Q4 2019

NIM

3.71%Q4 ’173.91%Q4 ’184.15%Q4 ’19+4%+1%

Non-interest income vs. expense

2.90%Q4 ’172.89%Q4 ’182.96%Q4 ’19+9%-9%

Market Position · Muncie, IN · 2019 SOD (annual) · 23.4% share · #2 of 6 inst. · $0.7B of $2.8B

23.4% Delaware
5.2% St. Joseph
10.3% Kosciusko
46.4% Greene

Executive Summary

  • Earnings: ROA of 1.19%, up 20 bps year over year; NIM at 3.22%.
  • Asset quality: problem loans at 0.48% of loans (-13 bps YoY), with net charge-offs at 0.13%.
  • Capital: tier 1 leverage ratio of 9.94%, up 73 bps from a year ago.
  • Funding: loans stand at 96.56% of deposits as of Q4 2019.

Financial Results

Return on Assets (YTD, annualized)

1.19%+20 bps YoY

Net Interest Margin (YTD, annualized)

3.22%+4 bps YoY

Efficiency Ratio (YTD, annualized)

67.38%-251 bps YoY

Tier 1 Leverage Ratio

9.94%+73 bps YoY

Year to date, annualized, through each quarter.

MetricQ4 2018Q1 2019Q2 2019Q3 2019Q4 2019YoY ΔTrend
Earnings
Return on Assets0.99%1.01%1.06%1.10%1.19%+20 bps
Return on Equity9.93%9.60%9.91%10.21%10.87%+95 bps
Net Interest Margin3.18%3.21%3.18%3.20%3.22%+4 bps
Efficiency Ratio69.89%69.32%68.57%67.25%67.38%-251 bps
Non-Interest Burden1.97%1.96%1.89%1.83%1.80%-17 bps
Growth
Asset Growth (YoY)28.90%3.38%3.92%2.57%0.73%-2,817 bps
Loan Growth (YoY)26.59%4.11%4.71%2.35%0.25%-2,634 bps
Deposit Growth (YoY)25.41%1.34%3.81%2.69%2.22%-2,318 bps
Asset Quality
Nonperforming Loans / Loans0.61%0.43%0.39%0.39%0.48%-13 bps
Net Charge-Offs / Loans0.08%0.10%0.10%0.11%0.13%+5 bps
Allowance / Loans0.89%0.88%0.87%0.88%0.89%0 bps
Allowance Coverage of NPLs1.5x2.1x2.3x2.3x1.8x+0.4x
Capital
Tier 1 Leverage Ratio9.20%9.38%9.36%9.59%9.94%+73 bps
Total Risk-Based Capital13.02%13.16%13.07%13.39%13.87%+86 bps
Equity / Assets10.39%10.72%10.81%11.22%11.50%+110 bps
Liquidity & Funding
Loans / Deposits98.46%96.70%97.25%96.21%96.56%-190 bps
Liquid Assets / Assets0.38%0.48%0.45%0.33%0.35%-3 bps
CRE / Total Capitaln/an/an/an/an/an/an/a