Mutual Federal Savings Bank was originally chartered in 1922 as the First Mutual Savings and Loan Association, headquartered in Sidney, Ohio. In 1940, the Association applied for and received a federal charter, changing its name to Mutual Federal Savings and Loan Association, and joining the Federal Home Loan Bank System to have its accounts insured up to the applicable regulatory limits by the FSLIC. Mutual Federal then converted from a federal mutual savings and loan association to a federal stock savings bank in 1988 and changed its name to the current day Mutual Federal Savings Bank, solely owned by a local holding company, Mutual Bancorp, Inc. The bank successfully opened three branches during this period, with the expansion into Miami County including office locations in both Piqua and in Troy, and with the first instore branch opened within the Sidney Kroger store location. In July 2007, Mutual Bancorp, Inc. was acquired by Richmond Mutual Bancorporation, Inc., a mutually owned community banking company based in Richmond, Indiana, that also owned First Bank Richmond, NA in Richmond. Mutual Federal then continued to operate independently and autonomously as a separately chartered bank as a wholly owned subsidiary of Richmond Mutual Bancorporation within this structure. In January of 2016, Mutual Federal opened its first loan production office in Columbus, Ohio, selectively focused upon commercial real estate lending opportunities in the greater Columbus market. Finally, late in 2016, Mutual Federal became formally incorporated into its affiliated bank, First Bank Richmond, NA, through an internal merger transaction that consolidated both banks into a single, more efficient commercial bank charter. The bank now continues to operate uninterrupted in Ohio as Mutual Federal, a division of First Bank Richmond, continuing to be locally operated and managed, with its local Advisory Board of Directors meeting on a regular basis.