Richmond Mutual completes Farmers Bancorp merger, issuing 6.25M shares at 3.40x exchange

Filed July 1, 2026 · Period ending July 1, 2026 · ~1 min read

Key Changes

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  Richmond issued 6.25 million new shares to Farmers shareholders at a 3.40-to-1 exchange ratio, representing significant dilution to existing shareholders as the combined entity now operates 19 branches across Indiana and Ohio.

  Item 2.01 — Completion of Acquisition or Disposition of Assets verify on EDGAR →
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  Christopher Cook, former Farmers CEO, appointed President of Richmond and CEO of First Bank Midwest; Garry Kleer stepped down as President but remains Chairman and CEO of the holding company.

  Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
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  Board expanded from 6 to 11 directors, adding five former Farmers directors including Barbara Cutillo as Vice Chair, shifting governance dynamics post-merger.

  Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →