CUSIP No. 62845B104 | Page 1 of 21 Pages |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Amendment No. 1
Under the Securities Exchange Act of 1934
MUTUALFIRST FINANCIAL, INC.
(Name of Issuer)
Common Stock, $0.01 par value
(Title of Class of Securities)
62845B104
(CUSIP Number)
Mr. John Wm. Palmer
PL Capital, LLC
47 E. Chicago Avenue
Suite 336
Naperville, IL 60540
(630) 848-1340
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
June 11, 2014
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box £.
CUSIP No. 62845B104 | Page 2 of 21 Pages |
1 | NAME OF REPORTING PERSON PL Capital, LLC | |
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) T (b) £ |
3 | SEC USE ONLY | |
4 | SOURCE OF FUNDS | |
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | £ |
6 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER 0 | |
8 | SHARED VOTING POWER 560,360 | |
9 | SOLE DISPOSITIVE POWER 0 | |
10 | SHARED DISPOSITIVE POWER 560,360 | |
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 560,360 | |
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | T |
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9% | |
14 | TYPE OF REPORTING PERSON OO | |
CUSIP No. 62845B104 | Page 3 of 21 Pages |
1 | NAME OF REPORTING PERSON Financial Edge Fund, L.P. | |
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) T (b) £ |
3 | SEC USE ONLY | |
4 | SOURCE OF FUNDS WC, OO | |
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | £ |
6 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER 0 | |
8 | SHARED VOTING POWER 338,751 | |
9 | SOLE DISPOSITIVE POWER 0 | |
10 | SHARED DISPOSITIVE POWER 338,751 | |
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 338,751 | |
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | T |
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.8% | |
14 | TYPE OF REPORTING PERSON PN | |
CUSIP No. 62845B104 | Page 4 of 21 Pages |
1 | NAME OF REPORTING PERSON Financial Edge—Strategic Fund, L.P. | |
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) T (b) £ |
3 | SEC USE ONLY | |
4 | SOURCE OF FUNDS WC, OO | |
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | £ |
6 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER 0 | |
8 | SHARED VOTING POWER 152,723 | |
9 | SOLE DISPOSITIVE POWER 0 | |
10 | SHARED DISPOSITIVE POWER 152,723 | |
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 152,723 | |
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | T |
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.1% | |
14 | TYPE OF REPORTING PERSON PN | |
CUSIP No. 62845B104 | Page 5 of 21 Pages |
1 | NAME OF REPORTING PERSON Goodbody/PL Capital, L.P. | |
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) T (b) £ |
3 | SEC USE ONLY | |
4 | SOURCE OF FUNDS WC, OO | |
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | £ |
6 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER 0 | |
8 | SHARED VOTING POWER 106,363 | |
9 | SOLE DISPOSITIVE POWER 0 | |
10 | SHARED DISPOSITIVE POWER 106,363 | |
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 106,363 | |
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | T |
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.5% | |
14 | TYPE OF REPORTING PERSON PN | |
CUSIP No. 62845B104 | Page 6 of 21 Pages |
1 | NAME OF REPORTING PERSON Goodbody/PL Capital, LLC | |
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) T (b) £ |
3 | SEC USE ONLY | |
4 | SOURCE OF FUNDS | |
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | £ |
6 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER 0 | |
8 | SHARED VOTING POWER 106,363 | |
9 | SOLE DISPOSITIVE POWER 0 | |
10 | SHARED DISPOSITIVE POWER 106,363 | |
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 106,363 | |
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | T |
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.5% | |
14 | TYPE OF REPORTING PERSON OO | |
CUSIP No. 62845B104 | Page 7 of 21 Pages |
1 | NAME OF REPORTING PERSON PL Capital Advisors, LLC | |
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) T (b) £ |
3 | SEC USE ONLY | |
4 | SOURCE OF FUNDS | |
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | £ |
6 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER 0 | |
8 | SHARED VOTING POWER 662,723 | |
9 | SOLE DISPOSITIVE POWER 0 | |
10 | SHARED DISPOSITIVE POWER 662,723 | |
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 662,723 | |
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | T |
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.3% | |
14 | TYPE OF REPORTING PERSON OO | |
CUSIP No. 62845B104 | Page 8 of 21 Pages |
1 | NAME OF REPORTING PERSON John W. Palmer | |
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) T (b) £ |
3 | SEC USE ONLY | |
4 | SOURCE OF FUNDS | |
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | £ |
6 | CITIZENSHIP OR PLACE OF ORGANIZATION USA | |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER 0 | |
8 | SHARED VOTING POWER 666,723 | |
9 | SOLE DISPOSITIVE POWER 0 | |
10 | SHARED DISPOSITIVE POWER 666,723 | |
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 666,723 | |
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | T |
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.4% | |
14 | TYPE OF REPORTING PERSON IN | |
CUSIP No. 62845B104 | Page 9 of 21 Pages |
1 | NAME OF REPORTING PERSON Richard J. Lashley | |
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) T (b) £ |
3 | SEC USE ONLY | |
4 | SOURCE OF FUNDS | |
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | £ |
6 | CITIZENSHIP OR PLACE OF ORGANIZATION USA | |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER 0 | |
8 | SHARED VOTING POWER 666,723 | |
9 | SOLE DISPOSITIVE POWER 0 | |
10 | SHARED DISPOSITIVE POWER 666,723 | |
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 666,723 | |
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | T |
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.4% | |
14 | TYPE OF REPORTING PERSON IN | |
CUSIP No. 62845B104 | Page 10 of 21 Pages |
1 | NAME OF REPORTING PERSON PL Capital/Focused Fund, L.P. | |
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) T (b) £ |
3 | SEC USE ONLY | |
4 | SOURCE OF FUNDS WC, OO | |
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | £ |
6 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER 0 | |
8 | SHARED VOTING POWER 64,886 | |
9 | SOLE DISPOSITIVE POWER 0 | |
10 | SHARED DISPOSITIVE POWER 64,886 | |
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 64,886 | |
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | T |
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.9% | |
14 | TYPE OF REPORTING PERSON PN | |
CUSIP No. 62845B104 | Page 11 of 21 Pages |
1 | NAME OF REPORTING PERSON PL Capital Defined Benefit Pension Plan | |
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) T (b) £ |
3 | SEC USE ONLY | |
4 | SOURCE OF FUNDS WC, OO | |
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | £ |
6 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER 0 | |
8 | SHARED VOTING POWER 4,000 | |
9 | SOLE DISPOSITIVE POWER 0 | |
10 | SHARED DISPOSITIVE POWER 4,000 | |
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,000 | |
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | T |
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.1% | |
14 | TYPE OF REPORTING PERSON EP | |
CUSIP No. 62845B104 | Page 12 of 21 Pages |
Item 1. | Security and Issuer |
This amended Schedule 13D relates to the common stock, $0.01 par value (“Common Stock”), of MutualFirst Financial, Inc. (the “Company” or “MutualFirst”). The address of the principal executive offices of the Company is 110 E. Charles Street, Muncie, IN 47305-2419.
Item 2. | Identity and Background |
This amended Schedule 13D is being filed jointly by the parties identified below. All of the filers of this Schedule 13D are collectively the “PL Capital Group.” The joint filing agreement of the members of the PL Capital Group is attached as Exhibit 1 to the initial Schedule 13D filed with the Securities and Exchange Commission on April 4, 2013.
● | Financial Edge Fund, L.P., a Delaware limited partnership (“Financial Edge Fund”); |
● | Financial Edge-Strategic Fund, L.P., a Delaware limited partnership (“Financial Edge Strategic”); |
● | PL Capital/Focused Fund, L.P., a Delaware limited partnership (“Focused Fund”); |
● | PL Capital, LLC, a Delaware limited liability company (“PL Capital”) and General Partner of Financial Edge Fund, Financial Edge Strategic and Focused Fund, and beneficiary of the PL Capital Defined Benefit Pension Plan (“PL Capital Pension Plan”); |
● | PL Capital Advisors, LLC, a Delaware limited liability company (“PL Capital Advisors”), and the investment advisor to Financial Edge Fund, Financial Edge Strategic, Goodbody/PL Capital, L.P. and Focused Fund; |
● | Goodbody/PL Capital, L.P., a Delaware limited partnership (“Goodbody/PL LP”); |
● | Goodbody/PL Capital, LLC (“Goodbody/PL LLC”), a Delaware limited liability company and General Partner of Goodbody/PL LP; |
● | John W. Palmer and Richard J. Lashley, as Managing Members of PL Capital, PL Capital Advisors and Goodbody/PL LLC and trustees and beneficiaries of the PL Capital Pension Plan; and |
● | PL Capital Pension Plan, a defined benefit pension plan for the benefit of PL Capital and Messrs. Palmer and Lashley. |
(a)-(c) This statement is filed by Mr. John W. Palmer and Mr. Richard J. Lashley, with respect to the shares of Common Stock beneficially owned by them, as follows:
CUSIP No. 62845B104 | Page 13 of 21 Pages |
| (1) | shares of Common Stock held in the name of Financial Edge Fund, Financial Edge Strategic, Focused Fund, in Mr. Palmer’s and Mr. Lashley’s capacity as Managing Members of (A) PL Capital: the General Partner of Financial Edge Fund, Financial Edge Strategic and Focused Fund, and (B) PL Capital Advisors: the investment advisor for Financial Edge Fund, Financial Edge Strategic and Focused Fund; |
| (2) | shares of Common Stock held in the name of Goodbody/PL LP, in Mr. Palmer’s and Mr. Lashley’s capacity as Managing Members of (A) Goodbody/PL LLC: the General Partner of Goodbody/PL LP; and (B) PL Capital Advisors: the investment advisor for Goodbody/PL LP; and |
| (3) | shares of Common Stock held in the name of PL Capital Pension Plan, in Mr. Palmer’s and Mr. Lashley’s capacity as beneficiaries and trustees of the PL Capital Pension Plan. |
The business address of Financial Edge Fund, Financial Edge Strategic, Focused Fund, PL Capital, PL Capital Advisors, Goodbody/PL LP, Goodbody/PL LLC, PL Capital Pension Plan, Mr. Palmer and Mr. Lashley is: c/o PL Capital, 47 E. Chicago Avenue, Suite 336, Naperville, Illinois 60540. Each of Financial Edge Fund, Financial Edge Strategic, Focused Fund, PL Capital, Goodbody/PL LP, PL Capital Advisors and Goodbody/PL LLC are engaged in various interests, including investments.
The principal employment of Messrs. Palmer and Lashley is investment management with each of PL Capital, PL Capital Advisors and Goodbody/PL LLC.
(d) During the past five years, no member of the PL Capital Group has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e) During the past five years, no member of the PL Capital Group has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or State securities laws or finding any violation with respect to such laws.
(f) All of the individuals who are members of the PL Capital Group are citizens of the United States.
Item 3. | Source and Amount of Funds or Other Consideration |
In aggregate, the PL Capital Group owns 666,723 shares of Common Stock of the Company acquired at an aggregate cost of $8,837,089.
CUSIP No. 62845B104 | Page 14 of 21 Pages |
From time to time, various members of the PL Capital Group may purchase Common Stock on margin provided by BNP Paribas Prime Brokerage Inc. (“BNP Paribas”) on such firm’s usual terms and conditions. All or part of the shares of Common Stock owned by members of the PL Capital Group may from time to time be pledged with one or more banking institutions or brokerage firms as collateral for loans made by such entities to members of the PL Capital Group. Such loans, if any, generally bear interest at a rate based upon the federal funds rate plus a margin. Such indebtedness, if any, may be refinanced with other banks or broker-dealers. As of the date of this filing, no members of the PL Capital Group have margin from BNP Paribas, or other loans outstanding secured by Common Stock.
The amount of funds expended by Financial Edge Fund to acquire the 338,751 shares of Common Stock it holds in its name is $4,545,215. Such funds were provided from Financial Edge Fund’s available capital and from time to time by margin loans provided by BNP Paribas.
The amount of funds expended by Financial Edge Strategic to acquire the 152,723 shares of Common Stock it holds in its name is $1,992,628. Such funds were provided from Financial Edge Strategic’s available capital and from time to time by margin loans provided by BNP Paribas.
The amount of funds expended by Focused Fund to acquire the 64,886 shares of Common Stock it holds in its name is $846,145. Such funds were provided from Focused Fund’s available capital and from time to time by margin loans provided by BNP Paribas.
The amount of funds expended by Goodbody/PL LP to acquire the 106,363 shares of Common Stock it holds in its name is $1,404,872. Such funds were provided from Goodbody/PL LP’s available capital and from time to time by margin loans provided by BNP Paribas.
The amount of funds expended by the PL Capital Pension Plan to acquire the 4,000 shares of Common Stock it holds in its name is $48,228. Such funds were provided from the Plan’s available capital.
Item 4. | Purpose of Transaction |
This is the PL Capital Group’s first amendment to its initial Schedule 13D filing. In the aggregate, the PL Capital Group owns 9.4% of the Company’s Common Stock, based upon the Company’s aggregate outstanding shares as of May 6, 2014. This amendment reflects an increase in ownership of the Company’s Common Stock. The PL Capital Group acquired the Common Stock because it believes the Common Stock is undervalued, and it intends to monitor the performance of the Company and the actions of the Company’s management and board. Where necessary or desirable, the PL Capital Group will assert its stockholder rights.
CUSIP No. 62845B104 | Page 15 of 21 Pages |
Unless otherwise noted in this amended Schedule 13D, no member of the PL Capital Group has any plans or proposals, which relate to, or would result in, any of the matters referred to in paragraphs (b) through (j), inclusive of Item (4) of Schedule 13D. Such individuals may, at any time and from time to time, review or reconsider their positions and formulate plans or proposals with respect thereto. Members of the PL Capital Group may make further purchases of shares of Common Stock, although the PL Capital Group has no present intention of increasing the PL Capital Group’s aggregate holdings above 9.999% of the Company’s outstanding Common Stock. Members of the PL Capital Group may dispose of any or all the shares of Common Stock held by them.
Item 5. | Interest in Securities of the Company |
The percentages used in this amended Schedule 13D are calculated based upon the number of outstanding shares of Common Stock, 7,128,549, reported as the number of outstanding shares as of May 6, 2014, on the Company’s Quarterly Report on Form 10-Q filed on May 9, 2014.
The PL Capital Group made transactions in the Common Stock within the past 60 days as noted below:
(a)-(b) See cover page.
(c) Financial Edge Fund made the following purchases (and no sales) of Common Stock in the past 60 days:
Trade Date | Number of Shares Purchased | Price per Share | Where and How Transaction Effected |
04/28/2014 | 1,000 | $18.75 | Open Market Purchase |
05/06/2014 | 9,000 | $18.75 | Open Market Purchase |
05/07/2014 | 5,000 | $18.72 | Open Market Purchase |
05/09/2014 | 1,000 | $18.75 | Open Market Purchase |
05/12/2014 | 14,000 | $18.75 | Open Market Purchase |
06/10/2014 | 1,600 | $18.75 | Open Market Purchase |
06/11/2014 | 20,000 | $18.85 | Open Market Purchase |
| (d) | Because Messrs. Palmer and Lashley are the Managing Members of PL Capital, the general partner of Financial Edge Fund, they have the power to direct the affairs of Financial Edge Fund, including the voting and disposition of shares of Common Stock held in the name of Financial Edge Fund. Mr. Palmer and Mr. Lashley are also the Managing Members of PL Capital Advisors, the investment advisor of Financial Edge Fund. Therefore, Mr. Palmer and Mr. Lashley are deemed to share voting and disposition power with Financial Edge Fund with regard to those shares of Common Stock. |
CUSIP No. 62845B104 | Page 16 of 21 Pages |
(B) | Financial Edge Strategic |
(a)-(b) See cover page.
(c) Financial Edge Strategic has made no purchases or sales of Common Stock in the past 60 days.
| (d) | Because Messrs. Palmer and Lashley are the Managing Members of PL Capital, the general partner of Financial Edge Strategic, they have the power to direct the affairs of Financial Edge Strategic, including the voting and disposition of shares of Common Stock held in the name of Financial Edge Strategic. Mr. Palmer and Mr. Lashley are also the Managing Members of PL Capital Advisors, the investment advisor of Financial Edge Strategic. Therefore, Mr. Palmer and Mr. Lashley are deemed to share voting and disposition power with Financial Edge Strategic with regard to those shares of Common Stock. |
(a)-(b) See cover page.
| (c) | Focused Fund made the following purchase (and no sales) of Common Stock in the past 60 days. |
Trade Date | Number of Shares Purchased | Price per Share | Where and How Transaction Effected |
05/12/2014 | 5,700 | $18.75 | Open Market Purchase |
| (d) | Because Messrs. Palmer and Lashley are the Managing Members of PL Capital, the general partner of Focused Fund, they have the power to direct the affairs of Focused Fund, including the voting and disposition of shares of Common Stock held in the name of Focused Fund. Mr. Palmer and Mr. Lashley are also the Managing Members of PL Capital Advisors, the investment advisor of Focused Fund. Therefore, Mr. Palmer and Mr. Lashley are deemed to share voting and dispositive power with Focused Fund with regard to those shares of Common Stock. |
CUSIP No. 62845B104 | Page 17 of 21 Pages |
(a)-(b) See cover page.
| (c) | Goodbody/PL LP made the following purchases (and no sales) of Common Stock in the past 60 days. |
Trade Date | Number of Shares Purchased | Price per Share | Where and How Transaction Effected |
05/06/2014 | 3,900 | $18.75 | Open Market Purchase |
05/12/2014 | 6,000 | $18.75 | Open Market Purchase |
06/11/2014 | 5,400 | $18.85 | Open Market Purchase |
| (d) | Goodbody/PL LLC is the general partner of Goodbody/PL LP. Because Messrs. Palmer and Lashley are the Managing Members of Goodbody/PL LLC, they have the power to direct the affairs of Goodbody/PL LP. Mr. Palmer and Mr. Lashley are also the Managing Members of PL Capital Advisors, the investment advisor of Goodbody/PL LP. Therefore, Goodbody/PL LLC may be deemed to share with Messrs. Palmer and Lashley voting and disposition power with regard to the shares of Common Stock held by Goodbody/PL LP. |
(E) PL Capital
(a)-(b) See cover page.
| (c) | PL Capital has made no purchases or sales of Common Stock directly. |
| (d) | PL Capital is the general partner of Financial Edge Fund, Financial Edge Strategic and Focused Fund. Because Messrs. Palmer and Lashley are the Managing Members of PL Capital, they have the power to direct the affairs of PL Capital. Therefore, PL Capital may be deemed to share with Mr. Palmer and Mr. Lashley voting and dispositive power with regard to the shares of Common Stock held by Financial Edge Fund, Financial Edge Strategic and Focused Fund. |
(F) PL Capital Advisors
(a)-(b) See cover page.
| (c) | PL Capital Advisors has made no purchases or sales of Common Stock directly. |
| (d) | PL Capital Advisors is the investment advisor to Financial Edge Fund, Financial Edge Strategic, Focused Fund and Goodbody/PL LP. Because they are the Managing Members of PL Capital Advisors, Mr. Palmer and Mr. Lashley have the power to direct the affairs of PL Capital Advisors. Therefore, PL Capital Advisors may be deemed to share with Mr. Palmer and Mr. Lashley voting and dispositive power with regard to the shares of Common Stock held by Financial Edge Fund, Financial Edge Strategic, Focused Fund and Goodbody/PL LP. |
CUSIP No. 62845B104 | Page 18 of 21 Pages |
(G) Goodbody/PL LLC
(a)-(b) See cover page.
| (c) | Goodbody/PL LLC has made no purchases or sales of Common Stock directly. |
| (d) | Goodbody/PL LLC is the general partner of Goodbody/PL LP. Because Messrs. Palmer and Lashley are the Managing Members of Goodbody/PL LLC, they have the power to direct the affairs of Goodbody/PL LLC. Therefore, Goodbody/PL LLC may be deemed to share with Messrs. Palmer and Lashley voting and disposition power with regard to the shares of Common Stock held by Goodbody/PL LP. |
(H) Mr. John W. Palmer
(a)-(b) See cover page.
| (c) | Mr. Palmer did not purchase or sell any shares of Common Stock directly during the past 60 days. |
(I) Richard J. Lashley
(a)-(b) See cover page.
| (c) | Mr. Lashley did not purchase or sell any shares of Common Stock directly during the past 60 days. |
(J) PL Capital Pension Plan
(a)-(b) See cover page.
| (c) | PL Capital Pension Plan did not purchase or sell any shares of Common Stock during the past 60 days. |
| (d) | PL Capital and Messrs. Palmer and Lashley are the trustees and beneficiaries of the PL Capital Pension Plan and may be deemed to share with the Plan the power of voting and disposition with regard to the shares of Common Stock held by the Plan. |
CUSIP No. 62845B104 | Page 19 of 21 Pages |
Item 6. | Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Company. |
With respect to Financial Edge Fund, Financial Edge Strategic and Focused Fund, PL Capital is entitled to an allocation of a portion of profits, if any. With respect to Financial Edge Fund, Financial Edge Strategic, Focused Fund and Goodbody/PL LP, PL Capital Advisors is entitled to a management fee based upon a percentage of total capital. With respect to Goodbody/PL LP, Goodbody/PL LLC is entitled to an allocation of a portion of profits, if any.
Other than the foregoing arrangements and relationships and the Joint Filing Agreement filed as Exhibit 1 to the initial Schedule 13D on April 4, 2013, there are no contracts, arrangements, understandings or relationships among the persons named in Item 2 hereof and between such persons and any person with respect to any securities of the Company.
Item 7. | Material to be Filed as Exhibits |
Exhibit No. | Description |
| |
1 | Joint Filing Agreement* |
| |
* Filed previously | |
CUSIP No. 62845B104 | Page 20 of 21 Pages |
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Date: June 16, 2014
FINANCIAL EDGE FUND, L.P. By: PL CAPITAL, LLC General Partner By: /s/ John W. Palmer /s/ Richard J. Lashley John W. Palmer Richard J. Lashley Managing Member Managing Member |
FINANCIAL EDGE-STRATEGIC FUND, L.P. By: PL CAPITAL, LLC General Partner By: /s/ John W. Palmer /s/ Richard J. Lashley John W. Palmer Richard J. Lashley Managing Member Managing Member |
PL CAPITAL/FOCUSED FUND, L.P. By: PL CAPITAL, LLC General Partner By: /s/ John W. Palmer /s/ Richard J. Lashley John W. Palmer Richard J. Lashley Managing Member Managing Member |
GOODBODY/PL CAPITAL, L.P. By: GOODBODY/PL CAPITAL, LLC General Partner By: /s/ John W. Palmer /s/ Richard J. Lashley John W. Palmer Richard J. Lashley Managing Member Managing Member |
CUSIP No. 62845B104 | Page 21 of 21 Pages |
GOODBODY/PL CAPITAL, LLC By: /s/ John W. Palmer /s/ Richard J. Lashley John W. Palmer Richard J. Lashley Managing Member Managing Member |
PL CAPITAL ADVISORS, LLC By: /s/ John W. Palmer /s/ Richard J. Lashley John W. Palmer Richard J. Lashley Managing Member Managing Member |
PL CAPITAL, LLC By: /s/ John W. Palmer /s/ Richard J. Lashley John W. Palmer Richard J. Lashley Managing Member Managing Member |
PL CAPITAL DEFINED BENEFIT PENSION PLAN By: /s/ John W. Palmer /s/ Richard J. Lashley John W. Palmer Richard J. Lashley Managing Member Managing Member |
By: /s/ John W. Palmer John W. Palmer |
By: /s/ Richard J. Lashley Richard J. Lashley |