MutualBank names new president

Patrick Botts passed away this week at the age of 55. (photo courtesy of MutualBank)

MUNCIE, Ind. (Inside INdiana Business) – The board of directors for Muncie-based MutualFirst Financial Inc. (Nasdaq: MFSF) has appointed David Heeter president and chief executive officer of MutualBank. The announcement follows the sudden death of President and Chief Operating Officer Patrick Botts.

Botts had also served on the boards of directors for both MutualFirst and Mutual Bank. In response to his passing, the companies have reduced the size of their respective boards from 13 members to 12 members.

“We are deeply saddened by Patrick’s sudden passing,” said Heeter. “He was the consummate professional, a strong leader of the Bank and a trusted friend. He has helped guide the Company and the Bank for over 33 years and it was a privilege and honor to know and work alongside him. All of us at MutualFirst and MutualBank will miss Pat greatly and we express our heartfelt condolences to his family for their loss.” 

The company had previously made a statement on Facebook regarding Botts’ death. He was 55.