13D Filing: Ancora Advisors, LLC and Mutualfirst Financial Inc (MFSF)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No.2 )*

MUTUALFIRST FINANCIAL INC.

(Name of Issuer)

Common Shares

(Title of Class of Securities)

62845B104

(CUSIP Number)

Frederick DiSanto
C/O Ancora
Advisors, LLC
6060 Parkland Boulevard, Suite 200
Cleveland, Ohio 44124
(216) 825-4000

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

Febuary 28, 2018

(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 that is the subject of this Schedule 13D, and is filing this schedule
because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ¨

Note: Schedules filed in paper format shall include
a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other
parties to whom copies are to be sent.

^* The remainder of this cover page shall be filled
out for a reporting person’s initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page
shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934
(“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all
other provisions of the Act (however, see the Notes).

CUSIP No. 62845B104		13D

1.		NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Ancora Advisors, LLC 33-1099773
2.		CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a)    ¨ (b)    ¨
3.		SEC USE ONLY
4.		SOURCE OF FUNDS (see instructions)   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   State of Nevada, United States of America

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7.		SOLE VOTING POWER   533,322
		8.		SHARED VOTING POWER   00,000
		9.		SOLE DISPOSITIVE POWER   533,322
		10.		SHARED DISPOSITIVE POWER   00,000

11.		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 533,322
12.		CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (see instructions)    ¨
13.		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.22%
14.		TYPE OF REPORTING PERSON (see instructions) OO

CUSIP No. 62845B104		13D

1.		NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Frederick DiSanto
2.		CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a)    ¨ (b)    ¨
3.		SEC USE ONLY
4.		SOURCE OF FUNDS (see instructions)   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   United States of America

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7.		SOLE VOTING POWER   0
		8.		SHARED VOTING POWER   00,000
		9.		SOLE DISPOSITIVE POWER   0
		10.		SHARED DISPOSITIVE POWER   00,000

11.		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0
12.		CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (see instructions)    ¨
13.		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.00%
14.		TYPE OF REPORTING PERSON (see instructions) IN

CUSIP No. 62845B104		13D

Item 1.  Security and Issuer.

This statement relates to the shares of Common Stock of Mutualfirst Financial Inc. The address of the issuer is 110 East Charles
Street, Muncie, IN 47305-2419.

Item 2.  Identity and Background.

Ancora Holdings Inc. is the parent company of three investment advisors registered with the SEC under the Investment Advisors
Act, as amended: Ancora Advisors LLC, Ancora Family Wealth Advisors, & Ancora Retirement Plan Advisors (collectively,
the “Ancora RIAs”). This statement is filed by Ancora Advisors, LLC and includes, if applicable, Shares that may be deemed
to be beneficially owned by the other Ancora RIAs. Ancora Advisors, LLC is the investment advisor to the Ancora Trust, which
includes the Ancora Income Fund, Ancora Special Opportunity Fund, Ancora/Thelen Small-Mid Cap Fund, and
Ancora MicroCap Fund (Ancora Family of Mutual Funds), which are registered with the SEC as investment companies under the
Investment Company Act, as amended. The address of the principal office of Ancora Advisors, LLC is 6060 Parkland Boulevard,
Suite 200, Cleveland, Ohio 44124.

Ancora Advisors, LLC has the power to dispose of the shares owned by the investment clients
for which it acts as advisor, including Merlin Partners, the AAMAF LP, Birchwald Partners LP, Ancora Catalyst Fund LP and
the Ancora Family of Mutual Funds. Ancora Advisors disclaims beneficial ownership of such shares, except to the extent of
its pecuniary interest therein.

During the last five years the Reporting Person has not been convicted in a criminal proceeding,
nor been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction, as a result of which
he 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.

Item 3.  Source or Amount of Funds or
Other Consideration.

Item 4.  Purpose of Transaction.

This is Ancora Advisor LLC’s second amendment to its initial Schedule 13d filing. The shares of Common Stock covered by this
Schedule 13d were acquired by Ancora Advisors, LLC for investment purposes in the ordinary course of business. Ancora purchased
shares based on its belief that the value of the bank is in excess of the current market price. Ancora representatives have
met with senior management of the Company and plan to continue to engage management and members of the Board of Directors
in dialogue about the Company’s performance, its capital structure and board composition. Ancora Advisors, LLC reserves the
right to purchase or otherwise acquire additional securities of the Issuer, or sell or otherwise dispose of any securities
of the Issuer beneficially owned by them. In each case, in the open market or in privately negotiated transactions, to the
extent deemed advisable by Ancora Advisors, LLC in light of their general investment policies, market conditions, subsequent
developments affecting the Issuer and the general business and future prospects of the Issuer. Ancora Advisors, LLC may take
other action with respect to the Issuer or any of the Issuer’s debt or equity securities in any manner permitted by applicable
law.

Item 5.  Interest in Securities of the
Issuer.

Item 6.  Contracts, Arrangements,
Understandings or Relationships with Respect to Securities of the Issuer.

Other than as described
herein, there are no contracts, arrangements, understandings or relationships among the Reporting Persons, or between the Reporting
Persons and any other person, with respect to the securities of the Issuer.

Item 7.  Material to Be Filed as
Exhibits.

SIGNATURE

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.