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Wiki Wiki Summary
Operation Mincemeat Operation Mincemeat was a successful British deception operation of the Second World War to disguise the 1943 Allied invasion of Sicily. Two members of British intelligence obtained the body of Glyndwr Michael, a tramp who died from eating rat poison, dressed him as an officer of the Royal Marines and placed personal items on him identifying him as the fictitious Captain (Acting Major) William Martin.
Bitwise operation In computer programming, a bitwise operation operates on a bit string, a bit array or a binary numeral (considered as a bit string) at the level of its individual bits. It is a fast and simple action, basic to the higher-level arithmetic operations and directly supported by the processor.
Common stock Common stock is a form of corporate equity ownership, a type of security. The terms voting share and ordinary share are also used frequently outside of the United States.
Preferred stock Preferred stock (also called preferred shares, preference shares, or simply preferreds) is a component of share capital that may have any combination of features not possessed by common stock, including properties of both an equity and a debt instrument, and is generally considered a hybrid instrument. Preferred stocks are senior (i.e., higher ranking) to common stock but subordinate to bonds in terms of claim (or rights to their share of the assets of the company, given that such assets are payable to the returnee stock bond) and may have priority over common stock (ordinary shares) in the payment of dividends and upon liquidation.
New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed companies at US$30.1 trillion as of February 2018.
Treasury stock A treasury stock or reacquired stock is stock which is bought back by the issuing company, reducing the amount of outstanding stock on the open market ("open market" including insiders' holdings). \nStock repurchases are used as a tax efficient method to put cash into shareholders' hands, rather than paying dividends, in jurisdictions that treat capital gains more favorably.
Foreign direct investment A foreign direct investment (FDI) is an investment in the form of a controlling ownership in a business in one country by an entity based in another country. It is thus distinguished from a foreign portfolio investment by a notion of direct control.
Investment (macroeconomics) In macroeconomics, investment "consists of the additions to the nation's capital stock of buildings, equipment, software, and inventories during a year" or, alternatively, investment spending — "spending on productive physical capital such as machinery and construction of buildings, and on changes to inventories — as part of total spending" on goods and services per year.The types of investment include residential investment in housing that will provide a flow of housing services over an extended time, non-residential fixed investment in things such as new machinery or factories, human capital investment in workforce education, and inventory investment (the accumulation, intentional or unintentional, of goods inventories)\nIn measures of national income and output, "gross investment" (represented by the variable I ) is a component of gross domestic product (GDP), given in the formula GDP = C + I + G + NX, where C is consumption, G is government spending, and NX is net exports, given by the difference between the exports and imports, X − M. Thus investment is everything that remains of total expenditure after consumption, government spending, and net exports are subtracted (i.e. I = GDP − C − G − NX ).
Alternative investment An alternative investment (also called an alternative asset) is an investment in any asset class excluding stocks, bonds, and cash. The term is a relatively loose one and includes tangible assets such as precious metals, collectibles (art, wine, antiques, cars, coins, musical instruments, or stamps) and some financial assets such as real estate, commodities, private equity, distressed securities, hedge funds, exchange funds, carbon credits, venture capital, film production, financial derivatives, cryptocurrencies, non-fungible tokens, and tax receivable agreements.
Federal Direct Student Loan Program The William D. Ford Federal Direct Loan Program (also called FDLP, FDSLP, and Direct Loan Program) provides "low-interest loans for students and parents to help pay for the cost of a student's education after high school. The lender is the U.S. Department of Education ...
ProCredit Holding The ProCredit Holding is the parent company of a development-oriented group of commercial banks for small and medium enterprises (SMEs), which operate in South Eastern and Eastern Europe, Ecuador, and Germany. The business model of the group is based on "socially responsible banking".
Commercial mortgage A commercial mortgage is a mortgage loan secured by commercial property, such as an office building, shopping center, industrial warehouse, or apartment complex. The proceeds from a commercial mortgage are typically used to acquire, refinance, or redevelop commercial property.
December 17 December 17 is the 351st day of the year (352nd in leap years) in the Gregorian calendar; 14 days remain until the end of the year.\n\n\n== Events ==\n\n\n=== Pre-1600 ===\n497 BC – The first Saturnalia festival was celebrated in ancient Rome.
December 1924 German federal election Federal elections were held in Germany on 7 December 1924, the second that year after the Reichstag had been dissolved on 20 October. The Social Democratic Party remained the largest party in the Reichstag, receiving an increased share of the vote and winning 131 of the 493 seats.
December 26 December 15 is the 349th day of the year (350th in leap years) in the Gregorian calendar; 16 days remain until the end of the year.\n\n\n== Events ==\n\n\n=== Pre-1600 ===\n533 – Vandalic War: Byzantine general Belisarius defeats the Vandals, commanded by King Gelimer, at the Battle of Tricamarum.
December 8 December 3 is the 337th day of the year (338th in leap years) in the Gregorian calendar; 28 days remain until the end of the year.\n\n\n== Events ==\n\n\n=== Pre-1600 ===\n915 – Pope John X crowns Berengar I of Italy as Holy Roman Emperor (probable date).
Boys Generally Asian Boys Generally Asian, also known by the acronym BgA, is an American K-pop parody group that was created by YouTube personality Ryan Higa. The group, which describes itself as "guys who can't sing, dance or really speak Korean", debuted in 2016 with the single, "Dong Saya Dae".
Generally Accepted Accounting Principles (United States) Generally Accepted Accounting Principles (GAAP or U.S. GAAP, pronounced like "gap") is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the latter differ considerably from GAAP and progress has been slow and uncertain.
Academic degree An academic degree is a qualification awarded to students upon successful completion of a course of study in higher education, usually at a college or university. These institutions commonly offer degrees at various levels, usually including undergraduate degrees, master's, and doctorates, often alongside other academic certificates and professional degrees.
Master's degree A master's degree (from Latin magister) is an academic degree awarded by universities or colleges upon completion of a course of study demonstrating mastery or a high-order overview of a specific field of study or area of professional practice. A master's degree normally requires previous study at the bachelor's level, either as a separate degree or as part of an integrated course.
De Cive De Cive ("On the citizen") is one of Thomas Hobbes's major works. The book was published originally in Latin from Paris in 1642, followed by two further Latin editions in 1647 from Amsterdam.
CAMELS rating system The CELS ratings or CAMELS rating is a supervisory rating system originally developed in the U.S. to classify a bank's overall condition. It is applied to every bank and credit union in the U.S. and is also implemented outside the U.S. by various banking supervisory regulators.
Fubon Bank (Hong Kong) Fubon Bank (Hong Kong) Limited (“Fubon Bank”) is a wholly owned subsidiary of Fubon Financial Holding Co., Ltd. (“Fubon Financial Holdings”), one of the largest financial holding companies in Taiwan.
PCL Construction The PCL family of companies is a group of independent general contracting construction companies in Canada, the United States, Australia and the Caribbean. PCL has headquarters in Edmonton, Alberta, Canada, with the United States head office in Denver, Colorado.
South of Market, San Francisco South of Market (SoMa) is a neighborhood in San Francisco, California, situated just south of Market Street. It contains several sub-neighborhoods including South Beach, Yerba Buena, and Rincon Hill.
Freedman's Savings Bank The Freedman's Saving and Trust Company, known as the Freedman's Savings Bank, was a private savings bank chartered by the U.S. Congress on March 3, 1865, to collect deposits from the newly emancipated communities. Within 7 years of its formation, the bank opened 37 branches across 17 states and the District of Columbia and collected funds from over 67,000 depositors.
Svalbard Global Seed Vault The Svalbard Global Seed Vault (Norwegian: Svalbard globale frøhvelv) is a secure backup facility for the world's crop diversity on the Norwegian island of Spitsbergen in the remote Arctic Svalbard archipelago. The Seed Vault provides long-term storage of duplicates of seeds conserved in genebanks around the world.
Capital adequacy ratio Capital Adequacy Ratio (CAR) is also known as Capital to Risk (Weighted) Assets Ratio (CRAR), is the ratio of a bank's capital to its risk. National regulators track a bank's CAR to ensure that it can absorb a reasonable amount of loss and complies with statutory Capital requirements.
Collateralized debt obligation A collateralized debt obligation (CDO) is a type of structured asset-backed security (ABS). Originally developed as instruments for the corporate debt markets, after 2002 CDOs became vehicles for refinancing mortgage-backed securities (MBS).
Futures contract In finance, a futures contract (sometimes called a futures) is a standardized legal contract to buy or sell something at a predetermined price for delivery at a specified time in the future, between parties not yet known to each other. The asset transacted is usually a commodity or financial instrument.
Impact crater An impact crater is a depression in the surface of a planet, moon, or other solid body in the Solar System or elsewhere, formed by the hypervelocity impact of a smaller body. In contrast to volcanic craters, which result from explosion or internal collapse, impact craters typically have raised rims and floors that are lower in elevation than the surrounding terrain.
Incorporation A corporation is an organization—usually a group of people or a company—authorized by the state to act as a single entity (a legal entity recognized by private and public law "born out of statute"; a legal person in legal context) and recognized as such in law for certain purposes.: 10  Early incorporated entities were established by charter (i.e. by an ad hoc act granted by a monarch or passed by a parliament or legislature).
Mutual information In probability theory and information theory, the mutual information (MI) of two random variables is a measure of the mutual dependence between the two variables. More specifically, it quantifies the "amount of information" (in units such as shannons (bits), nats or hartleys) obtained about one random variable by observing the other random variable.
Language acquisition Language acquisition is the process by which humans acquire the capacity to perceive and comprehend language (in other words, gain the ability to be aware of language and to understand it), as well as to produce and use words and sentences to communicate.\nLanguage acquisition involves structures, rules and representation.
Proposed acquisition of Twitter by Elon Musk On April 14, 2022, business magnate Elon Musk offered to purchase American social media company Twitter, Inc., for $43 billion, after previously acquiring 9.1 percent of the company's stock for $2.64 billion, becoming its largest shareholder. Twitter had then invited Musk to join their board of directors, which Musk at first accepted before subsequently declining.
Risk Factors
MUTUALFIRST FINANCIAL INC Item 1A Risk Factors The following are certain risk factors that could impact our business, financial results and results of operations
Investing in our common stock involves risks, including those described below
These risk factors should be considered by prospective and current investors in our common stock when evaluating the disclosures in this Annual Report on Form 10-K (particularly the forward-looking statements
) These risk factors could cause actual results and conditions to differ materially from those projected in forward-looking statements
If the risks we face, including those listed below, actually occur, our business, financial condition or results of operations could be negatively impacted, and the trading price of our common stock could decline, which may cause you to lose all or part of your investment
36 [37]NEXT PAGE Our loan portfolio possesses increased risk due to our substantial number of multi-family, commercial real estate, consumer and commercial business loans
Approximately 43dtta3prca of our loan portfolio as of December 31, 2005, consists of multi-family, commercial real estate, consumer and commercial business loans
Multi-family and commercial real estate loans accounted for approximately 9dtta9prca of our total loan portfolio as of December 31, 2005
Our commercial business and consumer loans accounted, respectively, for approximately 7dtta7prca and 25dtta7prca of our total loan portfolio as of December 31, 2005
Generally, we consider these types of loans to involve a higher degree of risk compared to first mortgage loans on one- to four-family, owner-occupied residential properties
In addition, we plan to increase our emphasis on consumer, commercial real estate and commercial business lending
Because of our planned increased emphasis on and increased investment in consumer, commercial real estate and commercial business lending, it may become necessary to increase the level of our provision for loan losses, which could decrease our net profits
For further information concerning the risks associated with multi-family, commercial real estate, consumer loans and commercial business loans, see &quote Lending Activities &quote and &quote Asset Quality &quote in Item I We plan to increase residential and commercial construction and development lending activities, which will increase the risk in our loan portfolio
Our construction and development loan portfolio represented 2dtta7prca of our total loan portfolio at December 31, 2005
Generally, we consider construction loans to involve a higher degree of risk than one- to four-family residential loans, because funds are advanced on the security of projects under construction and of uncertain value until completed
We intend to increase our residential and commercial construction lending, to the extent opportunities are available in our market area and meet our underwriting criteria
This increased emphasis on construction lending, particularly on commercial projects, may require us to increase the level of our provision for loan losses, which could decrease net profits
For further information concerning the risks associated with construction and development lending, see &quote Lending Activities - Construction and Development Lending &quote and &quote - Asset Quality &quote in Item 1
Rising interest rates may hurt our profits
To be profitable, we have to earn more money in interest we receive on loans and investments that we make than we pay to our depositors and lenders in interest
If interest rates rise, our net interest income and the value of our assets could be reduced if interest paid on interest-bearing liabilities, such as deposits and borrowings, increases more quickly than interest received on interest-earning assets, such as loans, other mortgage-related investments and investment securities
This is most likely to occur if short-term interest rates increase at a faster rate than long-term interest rates, which would cause income to go down
In addition, rising interest rates may hurt our income, because they may reduce the demand for loans and the value of our securities
For a further discussion of how changes in interest rates could impact us, see &quote Managementapstas Discussion and Analysis of Financial Condition and Results of Operations &quote in Item 7 and &quote Asset and Liability Management and Market Risk &quote in Item 7A 37 [38]NEXT PAGE If economic conditions deteriorate, our results of operations and financial condition could be adversely impacted as borrowers &apos ability to repay loans declines and the value of the collateral securing our loans decreases
Our financial results may be adversely affected by changes in prevailing economic conditions, including decreases in real estate values, changes in interest rates that cause a decrease in interest rate spreads, adverse employment conditions, the monetary and fiscal policies of the federal government and other significant external events
In addition, we have a significant amount of real estate loans
Accordingly, decreases in real estate values could adversely affect the value of collateral securing our loans
Adverse changes in the economy may also have a negative effect on the ability of our borrowers to make timely repayments of their loans
In this regard, a substantial majority of our loans are to individuals and businesses in north and central eastern Indiana
These factors could expose us to an increased risk of loan defaults and losses and have an adverse impact on our earnings
Strong competition within our market area may limit our growth and profitability
Competition in the banking and financial services industry is intense
In our market area, we compete with commercial banks, savings institutions, mortgage brokerage firms, credit unions, finance companies, mutual funds, insurance companies, and brokerage and investment banking firms operating locally and elsewhere
Many of these competitors have substantially greater resources and lending limits than we do and may offer certain services that we do not or cannot provide
Our profitability depends upon our continued ability to successfully compete in our market
The amount of common stock we control, our articles of incorporation and bylaws, and state and federal statutory provisions could discourage hostile acquisitions of control
Our board of directors and executive officers beneficially own 17dtta6prca of our common stock, and have additional stock options for 342cmam802 shares, which are exercisable within 60 days of March 3, 2006
In addition, our employee stock ownership plan controlled 9dtta6prca of our common stock at that date
This inside ownership together with provisions in our articles of incorporation and bylaws may have the effect of discouraging attempts to acquire MutualFirst, pursue a proxy contest for control of MutualFirst, assume control of MutualFirst by a holder of a large block of common stock and remove Mutual Firstapstas management, all of which certain stockholders might think are in their best interests
These provisions include, among other things: (a) staggered terms of the members of the board of directors; (b) an 80prca shareholder vote requirement for approval of any merger or consolidation of MutualFirst into any entity that directly or indirectly owns 5prca or more of MutualFirst voting stock if the transaction is not approved in advance by at least a majority of the disinterested members of MutualFirstapstas board of directors; (c) supermajority shareholder vote requirements for the approval of certain amendments to MutualFirstapstas articles of incorporation and bylaws; (d) a prohibition on any holder of common stock voting more than 10prca of the outstanding common stock; (e) elimination of cumulative 38 [39]NEXT PAGE voting by stockholders in the election of directors; (f) restrictions on the acquisition of our equity securities; and (g) the authorization of 5 million shares of preferred stock that may be issued with stockholder approval on terms or in circumstances that could deter a future takeover attempt
As a Maryland corporation, we are subject to the Maryland business corporation law, which contains certain restrictions on an acquisition of control of MutualFirst
Furthermore, federal law requires regulatory approval of any acquisition of control of MutualFirst and imposes limits on the types of companies that can control us
We operate in a highly regulated environment, and we may be adversely affected by changes in laws and regulations
Mutual Federal is subject to extensive regulation, supervision and examination by the Office of Thrift Supervision, its chartering authority, and by the FDIC MutualFirst also is subject to regulation and supervision by the Office of Thrift Supervision
This regulation and supervision governs the activities in which we may engage, and are intended primarily for the protection of the insurance fund and depositors
Regulatory authorities have extensive discretion in their supervisory and enforcement activities, including the imposition of restrictions on our operations, the classification of our assets and determination of the level of our allowance for loan losses
Any change in this regulation and oversight, whether in the form of regulatory policy, regulations, legislation or supervisory action, may have a material impact on our operations