MutualFirst Financial Fully Redeems TARP Funding and Participates in SBLF

MutualFirst Financial, Inc. MFSF, the holding company of MutualBank, today announced that it has completely repaid funding under the TARP Capital Repurchase Plan. MutualFirst redeemed the $32.4 million of preferred stock issued to the Treasury under the TARP Capital Purchase Program in December 2008. I n addition to the full redemption of the TARP investment, the Company paid a total of $4.3 million in dividends to the Treasury during the period the investment was outstanding. Also, the Treasury continues to hold warrants to purchase 625,135 shares of common stock of the Company's common stock at a price of $7.77 per share. The Company will attempt to repurchase these warrants from Treasury in the coming weeks, providing an additional return on the taxpayers' investment.