MutualBank

110 East Charles St
Muncie, IN 47305

 

2019 Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 27744
Date Established 1889
Assets $2.04 billion
Loans $1.49 billion
Deposits $1.52 billion
Capital $0.21 billion

MutualBank is an FDIC insured institution located in Muncie, IN. It was founded in 1889 and has approximately $2.04 billion in assets. Customers can open an account at one of its 31 branches.

For a more detailed analysis of MutualBank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Bank Loan Profile?

The top three loan types in MutualBank’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Small Business Loans.

Compared to other banks, MutualBank’s loan portfolio does not show any specific loan specialty.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 39.83
Multifamily
Mortgages
2.04
Credit Card Loans 0.10
Consumer Auto Loans 2.95
Small Business Loans 8.25
Construction and Development Loans 4.29
Commercial Real Estate 24.69
Commercial and Industrial Loans 7.61
Farm Loans 0.29

Deposit Rates - June 17, 2019

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Money Market
0.10% $2,500 $19,999 Learn MoreShow Less
Money Market
0.15% $20,000 $49,999 Learn MoreShow Less
Premium Money Market Account
0.05% $1 $19,999 Learn MoreShow Less
Premium Money Market Account
0.25% $20,000 $49,999 Learn MoreShow Less
CD Rates APY MIN MAX
3 Mo CD
0.05% $1 $49,999 Learn MoreShow Less
3 Mo CD
0.11% $95,000 - Learn MoreShow Less
6 Mo CD
0.10% $1,000 $49,999 Learn MoreShow Less
6 Mo CD
0.16% $95,000 - Learn MoreShow Less
Special: 8 Mo CD
2.40% $2,500 - Learn MoreShow Less
Special: 8 Mo CD
2.25% $2,500 - Learn MoreShow Less
12 Mo CD
0.30% $500 $49,999 Learn MoreShow Less
12 Mo CD
0.39% $95,000 - Learn MoreShow Less
18 Mo CD
0.30% $500 $49,999 Learn MoreShow Less
18 Mo CD
0.39% $95,000 - Learn MoreShow Less
Special: 22 Mo CD
2.25% $2,500 - Learn MoreShow Less
Special: 22 Mo CD
2.40% $2,500 - Learn MoreShow Less
24 Mo CD
0.50% $500 $49,999 Learn MoreShow Less
24 Mo CD
0.59% $95,000 - Learn MoreShow Less
30 Mo CD
0.50% $1 $49,999 Learn MoreShow Less
36 Mo CD
0.65% $1 $49,999 Learn MoreShow Less
36 Mo CD
0.74% $95,000 - Learn MoreShow Less
Special: 44 Mo CD
2.35% $2,500 - Learn MoreShow Less
Special: 44 Mo CD
2.15% $2,500 - Learn MoreShow Less
48 Mo CD
0.85% $1 $49,999 Learn MoreShow Less
48 Mo CD
0.94% $95,000 - Learn MoreShow Less
60 Mo CD
1.05% $500 $49,999 Learn MoreShow Less
60 Mo CD
1.14% $95,000 - Learn MoreShow Less

Fixed IRA Rates APY MIN MAX
Fixed IRA
0.30% $500 $49,999 Learn MoreShow Less
Special: 22 Mo FIRA
2.35% $2,500 - Learn MoreShow Less
Special: 22 Mo FIRA
2.50% $2,500 - Learn MoreShow Less
Special: 44 Mo FIRA
2.25% $2,500 - Learn MoreShow Less
Special: 44 Mo FIRA
2.45% $2,500 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
Var IRA
0.02% $1 $2,499 Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.01% $1 $24,999 Learn MoreShow Less
Int Ckg
0.01% $2,500 $49,999 Learn MoreShow Less

Loan Rates - June 17, 2019

Your Current Location: Virginia, VA 20146

Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.

Branches

MutualBank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


MutualBank Locations


Financial Details

MutualBank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of MutualBank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
MutualBank U.S. Bank Average
4.78% 6.97%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its the bank’s tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of December 31, 2018, MutualBank had $9,106,000 in non-current loans and $1,688,000 in owned real estate. To cover these potential losses it had $212,445,000 in equity and $13,281,000 in loans loss reserves. That gives it a Texas Ratio of 4.78%.

Return on Equity
MutualBank U.S. Bank Average
9.93% 8.80%

MutualBank has a Return on Equity of 9.93% versus the BestCashCow average of 8.80%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
MutualBank U.S. Bank Average
10.39% 12.29%

MutualBank has a Capitalization of 10.39% versus the BestCashCow average of 12.29. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

MutualBank Balance Sheet Analysis

As of December 31, 2018, MutualBank had assets of $2,044,013,000, loans of $1,486,453,000, and deposits of $1,523,131,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

December 31, 2018
ASSETS
Cash & Balances due from depository institutions $0.03 billion
Interest-bearing balances $0.01 billion
Total securities $0.37 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $1.49 billion
Loan loss allowance $0.01 billion
Trading account assets $0.00 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.00 billion
Goodwill and other intangibles $0.03 billion
All other assets $0.10 billion
     Total Assets $1.83 billion
LIABILITIES
Total deposits $1.52 billion
      Interest-bearing deposits $1.26 billion
      Deposits held in domestic offices $1.52 billion
      % insured (estimated) 84.87%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.29 billion
Subordinated debt $0.00 billion
All other liabilities $0.02 billion
      Total Liabilities $1.83 billion
      Shareholders’ Equity $0.21 billion

Summary Income Statement

December 31, 2018
INCOME AND EXPENSES
Total Interest Income $0.08 billion
Total Interest Expense $0.02 billion
Net interest income $0.06 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.02 billion
Total non interest expense $0.06 billion
Pre-tax Net Operating Income $0.02 billion

Frequently Asked Questions About Mutualbank

Branches and Savings

Is Mutualbank FDIC insured?

Yes. It is covered under FDIC Certificate #27744.

Why does Mutualbank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Mutualbank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Mutualbank a commercial bank?

Yes

Where are Mutualbank locations?

See branch locations nearby.

Is Mutualbank open on Saturdays?

Is Mutualbank open on Sundays?

What time does Mutualbank open?

What time does Mutualbank close?

Are Mutualbank ATMs Open 24/7?

Do Mutualbank ATMs accept cash deposits?

Can Mutualbank customers use other ATMs?

Do Mutualbank branches have notaries?

Will Mutualbank notarize my document?

What address for Mutualbank should I put for incoming ACH transfers?

Will the Mutualbank branch print checks?

Do Mutualbank checks expire?

Does Mutualbank require US citizenship to open account?

Can Mutualbank close my account?

Does Mutualbank Report to credit bureaus?

Does Mutualbank Use Equifax?

What is Mutualbank's ACH Routing Number?

What is Mutualbank's SWIFT code?

Products

Does Mutualbank offer mortgages?

Compare mortgage rates here.

Does Mutualbank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Mutualbank offer personal loans?

Compare personal loan rates here.

Does Mutualbank offer student loans?

Will Mutualbank cash a check?

Will Mutualbank redeem a savings bond?

Does Mutualbank cash savings bonds?

Will Mutualbank cash money orders?

Can Mutualbank issue a money order?

Does Mutualbank do currency exchange?

Background on The Bank

Who owns Mutualbank?

How long has Mutualbank been around?

Can Mutualbank transfer to other banks?

Does Mutualbank have quick pay?

Does Mutualbank accept rolled coins?

Will Mutualbank accept loose change?

Where is Mutualbank headquarters?

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