Question 1

What is Mutual Savings Bank?

Accepted Answer

Mutual Savings Bank is a community-focused state savings bank headquartered in Franklin, Indiana, serving Johnson County and the surrounding Indianapolis metropolitan area. As the only locally-based financial institution in Johnson County, the bank operates four full-service branches and specializes in personal and business banking with an emphasis on community relationships.

With approximately $349 million in assets and $268 million in deposits, Mutual Savings Bank positions itself as a community bank that combines the convenience and products of larger institutions with the personalized service of a local bank.

Question 2

When was Mutual Savings Bank founded?

Accepted Answer

Mutual Savings Bank was founded in 1890 as the Mutual Building and Loan Association by a group of professional businessmen in Franklin, Indiana, who wanted to invest in the future of their city. The institution operated as a building and loan association for over a century, focusing on helping community members achieve homeownership.

In 1994, the bank converted to a state savings bank charter, which allowed it to expand its product offerings and services beyond traditional mortgage lending. On October 1, 1994, the institution officially became known as Mutual Savings Bank, marking a significant evolution in its ability to serve the broader financial needs of Johnson County residents and businesses.

Question 3

Where is Mutual Savings Bank headquartered?

Accepted Answer

Mutual Savings Bank is headquartered at 80 East Jefferson Street in Franklin, Indiana. Franklin serves as the county seat of Johnson County and is located in the southern portion of the Indianapolis metropolitan area.

The main office location has been serving the Franklin community for over 130 years and continues to serve as the bank's primary hub for operations and leadership.

Question 4

Where does Mutual Savings Bank operate?

Accepted Answer

Mutual Savings Bank operates exclusively within Johnson County, Indiana, and the southern Indianapolis metropolitan area. The bank maintains four full-service branches across the region:
• Franklin Main Office: 80 East Jefferson Street, Franklin
• Franklin Main Street Branch: 1124 North Main Street, Franklin  
• Stones Crossing Branch: 2812 South State Road 135, Greenwood
• Trafalgar Branch: 2 Trafalgar Square, Trafalgar

The bank's service area is concentrated in the Indianapolis-Carmel-Anderson metropolitan statistical area, with a particular focus on Johnson County communities. All branches offer 24-hour ATM access and night depository services.

Question 5

What services does Mutual Savings Bank offer?

Accepted Answer

Mutual Savings Bank provides comprehensive personal and business banking services, including free checking accounts for both individuals and businesses, savings accounts, certificates of deposit, IRAs, and money market accounts.

The bank's lending services include residential mortgages, home equity loans, commercial real estate financing, business loans, and consumer lending products. The commercial lending division serves small and medium-sized businesses throughout Johnson County.

Digital banking capabilities include mobile banking through the Mutual Savings Bank mobile app for iOS and Android devices, online banking with bill pay services, mobile check deposit, account transfers, and real-time account monitoring. The bank's digital platforms allow customers to download transactions to financial software like Quicken and QuickBooks.

Question 6

What makes Mutual Savings Bank unique?

Accepted Answer

Mutual Savings Bank distinguishes itself as the only locally-based financial institution in Johnson County, emphasizing its deep community roots spanning more than 130 years. Unlike regional or national banks operating in the area, all decision-making occurs locally, allowing for more personalized service and community-focused lending.

The bank operates under Third Century Bancorp as its holding company and maintains its commitment to mutual banking principles, where profits support the institution's growth and benefit depositors rather than external shareholders. This structure allows the bank to prioritize long-term community relationships over short-term profit maximization.

The institution has demonstrated stability throughout economic cycles, including weathering the Great Depression and the 2008 financial crisis, while maintaining consistent service to Johnson County residents. Its tagline "Let's Bank Together" reflects its collaborative approach to helping customers achieve financial goals.

Question 7

What type of financial institution is Mutual Savings Bank?

Accepted Answer

Mutual Savings Bank is a state-chartered savings bank regulated by the Federal Deposit Insurance Corporation (FDIC). As a savings bank, it originally focused on accepting deposits and providing mortgage loans, though it has since expanded to offer full commercial banking services.

The bank operates as a mutual institution through its holding company structure, meaning it is owned by its depositors rather than external stockholders. This mutual ownership model prioritizes depositor interests and community benefit over maximizing shareholder returns, distinguishing it from stock-owned commercial banks.

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