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MutualFirst Financial deal expected to improve liquidity

Oct 06, 2017 - SNL Financial

Muncie, Ind.-based MutualFirst Financial Inc. is acquiring state peer Universal Bancorp in a deal that executives say will increase lending in vibrant markets and that analysts say will improve liquidity.

The cash-and-stock deal is valued at about $65.6 million in aggregate and is expected to create a company with $2 billion in assets. MutualFirst will gain 13 branches in central and southern Indiana for a total of 40 in the state, allowing the company to gain foothold in the lucrative gre...