Northwest Bancshares Completes Acquisition of MutualFirst Financial (MutualBank)

April 24, 2020

On April 24, 2020 Northwest Bancshares, Inc. completed its acquisition of MutualFirst Financial, Inc., the holding company for MutualBank. The stock-for-stock merger (each MutualFirst share converted into 2.4 shares of Northwest) valued the deal at approximately $213.4 million; MutualBank brought ~$2.1 billion in assets and 36 full‑service offices in Indiana, expanding Northwest's footprint to roughly $12.8 billion in assets and 214 branches.

Buyers
Northwest Bancshares, Inc.
Targets
MutualFirst Financial, Inc. (MutualBank)
Location
Indiana, United States
Transaction Type
Buyout

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