MUNCIE - MutualFirst Financial Inc., the holding company of Mutual Federal Savings Bank, announced Friday that Mutual Federal has entered into an agreement to purchase the deposits and certain loans owned by First Financial Bank and serviced by Community First Bank and Trust in Warsaw.

"The acquisition of these deposits and loans enables us to increase our customer base in the Kosciusko County market," said Dave Heeter, chief executive officer of MutualFirst and Mutual Federal.

Transfer of the ownership of these account relationships will take place following receipt of all necessary regulatory approvals. It is anticipated the transaction will be finalized by the end of August.

Although a recent announcement by Community First indicated this office would permanently close Aug. 4, this date was extended until formal transfer of ownership to Mutual Federal occurs. This means there will be no interruption of service for customers. Prior to the sale, Mutual Federal will provide information to affected customers by mail about how their accounts will transfer automatically.

Heeter said, "We are pleased to be able to maintain and continue service for current branch customers. Our goal is to provide each of them quality financial services which consistently exceed their highest expectations."

In connection with this purchase, Mutual Federal also is acquiring the customer base of two other Community First offices recently designated for closure, one in Wabash and one in Winchester.

Mutual Federal was chartered in 1889 and presently offers financial services through a network of 20 bank offices in Delaware, Randolph, Kosciusko and Grant counties in Northeastern Indiana and via the Internet. The bank has total assets of approximately $965 million. [[In-content Ad]]