NASDAQ: RMBI
Richmond Mutual Bancorporation, Inc.CIK 0001767837 · SIC 6022 · State Savings Banks
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RMBI net income falls 14.4% to $2.2M as merger costs offset margin gains
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RMBI reports Q2 EPS of $0.22, down 21% on $1.9M merger costs; NPLs rise to 1.78%
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Richmond Mutual completes Farmers Bancorp merger, issuing 6.25M shares at 3.40x exchange
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Richmond Mutual shareholders approve merger with The Farmers Bancorp of Indiana
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Richmond Mutual Bancorporation declares $0.15 per share quarterly dividend
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net income $2.8M. Richmond Mutual reports 41.5% earnings jump, merger with Farmers Bancorp set for Q2 close
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RMBI merger registration statement declared effective; shareholder vote advances
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Richmond Mutual Bancorporation announces Q1 2026 earnings results
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RMBI: net income $11.6M. RMBI net income up 23.5% as margin expands 30bp; nonperforming loans triple to 1.46%
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Latest financial statements
From 10-Q filed Aug 13, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Income (Unaudited)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Interest Income | ||||
| Loans and leases | 19,790,248 | 19,182,992 | 38,901,227 | 37,956,750 |
| Investment securities | 1,880,707 | 1,920,303 | 3,753,688 | 3,883,752 |
| Other | 227,646 | 242,842 | 406,077 | 373,662 |
| Total interest income | 21,898,601 | 21,346,137 | 43,060,992 | 42,214,164 |
| Interest Expense | ||||
| Deposits | 7,213,068 | 7,811,994 | 14,511,415 | 15,656,374 |
| Borrowings | 2,611,605 | 2,774,702 | 5,029,236 | 5,540,277 |
| Total interest expense | 9,824,673 | 10,586,696 | 19,540,651 | 21,196,651 |
| Net Interest Income | 12,073,928 | 10,759,441 | 23,520,341 | 21,017,513 |
| Provision for credit losses | 823,147 | 744,690 | 1,516,241 | 1,475,785 |
| Net Interest Income After Provision for Credit Losses | 11,250,781 | 10,014,751 | 22,004,100 | 19,541,728 |
| Non-interest Income | ||||
| Service charges on deposit accounts | 330,191 | 309,936 | 652,169 | 605,910 |
| Card fee income | 338,381 | 335,944 | 655,705 | 634,424 |
| Loan and lease servicing fees | 95,265 | 135,880 | 188,845 | 248,238 |
| Net loss on securities (includes $0, $(156,859), $0, and $(156,859), respectively, related to accumulated other comprehensive income reclassifications) | — | (156,859) | — | (156,859) |
| Net gains on loan and lease sales | 181,319 | 101,338 | 354,391 | 196,443 |
| Other income | 634,933 | 353,698 | 1,026,790 | 714,025 |
| Total non-interest income | 1,580,089 | 1,079,937 | 2,877,900 | 2,242,181 |
| Non-interest Expenses | ||||
| Salaries and employee benefits | 4,726,129 | 4,767,107 | 9,289,688 | 9,479,062 |
| Net occupancy expenses | 400,089 | 342,971 | 837,936 | 731,271 |
| Equipment expenses | 231,256 | 263,307 | 484,272 | 507,797 |
| Data processing fees | 1,100,919 | 925,536 | 2,292,998 | 1,827,500 |
| Deposit insurance expense | 250,000 | 304,000 | 535,000 | 643,000 |
| Printing and office supplies | 45,943 | 34,518 | 87,242 | 82,991 |
| Legal and professional fees | 353,765 | 447,674 | 812,556 | 978,591 |
| Advertising expense | 69,407 | 98,225 | 174,104 | 163,837 |
| Bank service charges | 58,370 | 37,720 | 106,585 | 84,338 |
| Real estate owned expense | 1,408 | 1,225 | 13,623 | 3,287 |
| Merger and acquisition expense | 1,863,428 | — | 1,863,428 | — |
| Other expenses | 1,067,007 | 887,980 | 2,373,714 | 1,981,202 |
| Total non-interest expenses | 10,167,721 | 8,110,263 | 18,871,146 | 16,482,876 |
| Income Before Income Tax Expense | 2,663,149 | 2,984,425 | 6,010,854 | 5,301,033 |
| Provision for income taxes | 436,345 | 382,427 | 998,759 | 730,725 |
| Net Income | 2,226,804 | 2,601,998 | 5,012,095 | 4,570,308 |
| Earnings Per Share | ||||
| Basic | 0.23 | 0.27 | 0.52 | 0.47 |
| Diluted | 0.22 | 0.26 | 0.51 | 0.46 |
Condensed Consolidated Balance Sheets
| Description | June 30, 2026 (Unaudited) | December 31, 2025 |
|---|---|---|
| Assets | ||
| Cash and due from banks | 11,937,626 | 9,275,184 |
| Interest-earning demand deposits | 22,782,945 | 23,855,310 |
| Cash and cash equivalents | 34,720,571 | 33,130,494 |
| Interest-earning time deposits | 2,850,000 | 2,070,000 |
| Investment securities available for sale | 245,271,477 | 251,915,497 |
| Investment securities held to maturity | 2,353,776 | 2,747,889 |
| Loans held for sale | — | 828,000 |
| Loans and leases, net of allowance for credit losses of $16,973,886 and $16,465,708, respectively | 1,207,852,229 | 1,176,812,906 |
| Premises and equipment, net | 13,563,207 | 13,396,583 |
| Federal Home Loan Bank stock | 13,907,100 | 13,907,100 |
| Interest receivable | 6,255,602 | 6,299,925 |
| Mortgage-servicing rights | 1,874,690 | 1,883,446 |
| Cash surrender value of life insurance | 4,002,851 | 3,953,634 |
| Other assets | 19,377,847 | 18,845,066 |
| Total assets | 1,552,029,350 | 1,525,790,540 |
| Liabilities | ||
| Noninterest-bearing deposits | 100,070,823 | 100,090,746 |
| Interest-bearing deposits | 1,046,572,571 | 1,014,802,514 |
| Total deposits | 1,146,643,394 | 1,114,893,260 |
| Federal Home Loan Bank advances | 244,000,000 | 240,000,000 |
| Other borrowings | — | 12,000,000 |
| Advances by borrowers for taxes and insurance | 718,729 | 650,674 |
| Interest payable | 2,940,999 | 3,456,973 |
| Other liabilities | 9,453,651 | 9,008,533 |
| Total liabilities | 1,403,756,773 | 1,380,009,440 |
| Commitments and Contingent Liabilities | — | — |
| Stockholders' Equity | ||
| Common stock, $0.01 par value | ||
| Authorized - 90,000,000 shares | ||
| Issued and outstanding 10,504,760 shares and 10,501,260 shares at June 30, 2026 and December 31, 2025, respectively | 105,048 | 105,013 |
| Additional paid-in capital | 93,128,490 | 92,897,260 |
| Retained earnings | 99,406,275 | 97,324,605 |
| Unearned employee stock ownership plan (ESOP) | (9,619,435) | (9,987,093) |
| Accumulated other comprehensive loss | (34,747,801) | (34,558,685) |
| Total stockholders' equity | 148,272,577 | 145,781,100 |
| Total liabilities and stockholders' equity | 1,552,029,350 | 1,525,790,540 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Operating Activities | ||
| Net income | 5,012,095 | 4,570,308 |
| Adjustments to reconcile net income to net cash provided by operating activities | ||
| Provision for credit losses | 1,516,241 | 1,475,785 |
| Depreciation and amortization | 448,146 | 440,839 |
| Deferred income tax | 231,496 | (237,680) |
| Stock based compensation | 175,709 | 726,918 |
| Investment securities amortization, net | 358,561 | 364,455 |
| Net loss on sale of investment securities available for sale | — | 156,859 |
| Net gains on loan and lease sales | (354,391) | (196,443) |
| Gain on sale of premises and equipment | — | (4,500) |
| Accretion of loan origination fees | (426,253) | (446,258) |
| Amortization of mortgage-servicing rights | 128,335 | 95,477 |
| ESOP shares expense | 386,359 | 359,612 |
| Increase in cash surrender value of life insurance | (49,217) | (47,798) |
| Loans originated for sale | (17,411,254) | (10,018,214) |
| Proceeds on loans sold | 16,583,254 | 9,765,589 |
| Net change in | ||
| Interest receivable | 44,323 | (166,155) |
| Other assets | (757,507) | 1,277,317 |
| Other liabilities | 445,118 | (102,499) |
| Interest payable | (515,974) | (988,458) |
| Net cash provided by operating activities | 5,815,041 | 7,025,154 |
| Investing Activities | ||
| Net change in interest-bearing time deposits | (780,000) | — |
| Purchases of securities available for sale | (955,025) | (4,330,256) |
| Proceeds from maturities and paydowns of securities available for sale | 7,000,209 | 8,875,127 |
| Proceeds from sales of securities available for sale | — | 6,765,143 |
| Proceeds from maturities and paydowns of securities held to maturity | 395,000 | 565,159 |
| Net change in loans | (30,238,499) | (8,701,674) |
| Proceeds from sales of real estate owned | 43,502 | — |
| Purchases of premises and equipment | (614,770) | (703,448) |
| Net cash provided by (used in) investing activities | (25,149,583) | 2,470,051 |
| Financing Activities | ||
| Net change in | ||
| Demand and savings deposits | 21,195,739 | 10,048,117 |
| Certificates of deposit | 10,554,395 | (7,598,958) |
| Advances by borrowers for taxes and insurance | 68,055 | 76,318 |
| Repayment of other borrowings | (12,000,000) | — |
| Proceeds from FHLB advances | 158,000,000 | 179,000,000 |
| Repayment of FHLB advances | (154,000,000) | (177,000,000) |
| Repurchase of common stock | — | (5,633,659) |
| Proceeds from stock option exercises | 36,855 | — |
| Dividends paid | (2,930,425) | (2,932,730) |
| Net cash provided by (used in) financing activities | 20,924,619 | (4,040,912) |
| Net Change in Cash and Cash Equivalents | 1,590,077 | 5,454,293 |
| Cash and Cash Equivalents, Beginning of Period | 33,130,494 | 21,757,190 |
| Cash and Cash Equivalents, End of Period | 34,720,571 | 27,211,483 |
| Additional Cash Flows and Supplementary Information | ||
| Interest paid | 20,056,625 | 22,185,109 |
Amounts as printed on the EDGAR/iXBRL face. Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗