What are Mutualfirst Financial Inc's Business Segments?
MutualFirst Financial Inc. is a financial services holding company that operates through its wholly-owned subsidiary, MutualBank. The company provides a range of financial products and services to individuals and businesses.
Segments: MutualFirst Financial Inc. operates through two segments e banking and insurance.
Banking Segment: The banking segment includes the traditional banking services that MutualBank provides to its clients. The main services offered are consumer and commercial banking. The consumer banking services include checking and savings accounts, investment services, loans for homes, automobiles and personal uses. The commercial banking services include commercial real estate loans, agriculture lending, and business banking services. The banking segmentes primary focus is on serving the needs of its community, including individuals, small businesses, and local governments.
Insurance Segment: The insurance segment supports the companyes banking services by providing insurance services to MutualBank clients. The segment offers a range of insurance products and services, including property and casualty insurance, life and health insurance, and employee benefits. The insurance products are mostly sold to commercial clients.
Products: MutualFirst Financial Inc. offers a wide range of products to its clients through its banking and insurance segments.
- Deposit Accounts: The company offers a range of deposit accounts to its clients, including checking accounts, savings accounts, money market accounts, and certificates of deposit. These accounts have different features and benefits depending on the needs of the client.
- Loans: MutualBank provides a range of loan products to its clients, including personal loans, home equity loans, auto loans, and commercial loans. The loans may be secured or unsecured and have different terms and rates depending on the type of loan.
- Insurance Products: The insurance segment offers a range of products, including commercial property and casualty insurance, group health insurance, and life insurance.
Services: MutualFirst Financial Inc. offers a range of services to its clients to support their financial needs.
- Online and Mobile Banking: The company offers online and mobile banking services to its clients, allowing them to access their accounts, transfer funds, pay bills, and receive account alerts electronically.
- Investment Services: The bank provides investment services, which include investment management, trust services, and financial planning.
- Cash Management: MutualBank offers cash management services to its commercial clients, including deposit services, ACH payments, wire transfers, and remote deposit capture.
- Wealth Management: The company offers wealth management services, including retirement planning and estate planning, to help clients manage their financial futures.
Overall, MutualFirst Financial Inc. offers a comprehensive range of products and services through its banking and insurance segments to meet the diverse financial needs of its clients.
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