MutualFirst Financial Inc. (MFSF, Financial) filed Quarterly Report for the period ended 2012-06-30.
Mutualfirst Financial, Inc. has a market cap of $75.8 million; its shares were traded at around $11.13 with a P/E ratio of 20.9 and P/S ratio of 1. The dividend yield of Mutualfirst Financial, Inc. stocks is 2.2%.
Interest Income. Total interest income decreased $1.7 million, or 10.8%, to $14.1 million during the three months ended June 30, 2012 from $15.8 million during the three months ended June 30, 2011. The decrease was a result of the decline in the net interest margin from 3.19% in the second quarter of 2011 to 3.10% in the second quarter of 2012, partially offset by an increase in average earning assets of $11.8 million. The decline is margin was primarily due to the decline in national and local prevailing interest rates and the mix of interest-earning assets shifted towards lower yielding investment securities. Interest income on loans in the second quarter of 2012 was $11.6 million compared to $13.4 million for same period in 2011, reflecting an $11.7 million decrease in the average loan portfolio to $953.1 million at June 30, 2012 and a 67 basis point decrease in the weighted average yield on loans for the three months ended June 30, 2012 to 4.89%. Interest income on investment securities for the second quarter 2012 was $2.5 million compared to $2.4 million for the same period in 2011, reflecting a $58.6 million increase in our average investment securities portfolio to $368.5 million as of June 30, 2012.
Net Interest Income. Net interest income before the provision for loan losses decreased $204,000 for the quarter ended June 30, 2012 compared to the same period in 2011. The decrease was a result of the decline in the net interest margin from 3.19% in the second quarter of 2011 to 3.10% in the second quarter of 2012, partially offset by an increase in average earning assets of $11.8 million. On a linked quarter basis, net interest income before the provision for loan losses increased $481,000 as net interest margin increased by 7 basis points and average earning assets increased by $31.4 million. For more information on our asset/liability management, especially as it relates to interest rate risk, see Item 7A -
Read the The complete Report
Mutualfirst Financial, Inc. has a market cap of $75.8 million; its shares were traded at around $11.13 with a P/E ratio of 20.9 and P/S ratio of 1. The dividend yield of Mutualfirst Financial, Inc. stocks is 2.2%.
Highlight of Business Operations:
General. Net income available to common stockholders for the three months ended June 30, 2012 was $1.3 million or $0.18 basic and diluted earnings per common share compared to net income of $1.2 million, or $0.18 basic and diluted earnings per common share for the three months ended June 30, 2011. The primary reason for this increase was increased gains on sales of securities and loans.. Our return on assets and on average tangible equity on an annualized basis were 0.45% and 4.97%, respectively in the 2012 period compared to 0.46% and 5.14% in the 2011 period.Interest Income. Total interest income decreased $1.7 million, or 10.8%, to $14.1 million during the three months ended June 30, 2012 from $15.8 million during the three months ended June 30, 2011. The decrease was a result of the decline in the net interest margin from 3.19% in the second quarter of 2011 to 3.10% in the second quarter of 2012, partially offset by an increase in average earning assets of $11.8 million. The decline is margin was primarily due to the decline in national and local prevailing interest rates and the mix of interest-earning assets shifted towards lower yielding investment securities. Interest income on loans in the second quarter of 2012 was $11.6 million compared to $13.4 million for same period in 2011, reflecting an $11.7 million decrease in the average loan portfolio to $953.1 million at June 30, 2012 and a 67 basis point decrease in the weighted average yield on loans for the three months ended June 30, 2012 to 4.89%. Interest income on investment securities for the second quarter 2012 was $2.5 million compared to $2.4 million for the same period in 2011, reflecting a $58.6 million increase in our average investment securities portfolio to $368.5 million as of June 30, 2012.
Net Interest Income. Net interest income before the provision for loan losses decreased $204,000 for the quarter ended June 30, 2012 compared to the same period in 2011. The decrease was a result of the decline in the net interest margin from 3.19% in the second quarter of 2011 to 3.10% in the second quarter of 2012, partially offset by an increase in average earning assets of $11.8 million. On a linked quarter basis, net interest income before the provision for loan losses increased $481,000 as net interest margin increased by 7 basis points and average earning assets increased by $31.4 million. For more information on our asset/liability management, especially as it relates to interest rate risk, see Item 7A -
Read the The complete Report
