Open report — full analysis, no account required.
Sign up to generate reports and read filings that aren't on the open list.
Get notified when RMBI files again. Create a free account and we'll email you the moment its next filing is analyzed.
Get filing alertsRMBI reports Q2 EPS of $0.22, down 21% on $1.9M merger costs; NPLs rise to 1.78%
Filed July 27, 2026 · Period ending July 27, 2026 · ~1 min read
Key Changes
-
high
Q2 2026 net income fell to $2.2M ($0.22/share) from $2.8M ($0.28/share) in Q1, driven by $1.9M in non-recurring merger-related expenses and higher credit provisions. Year-over-year EPS declined 15% from $0.26.
Exhibit 99.1 view on EDGAR → -
high
Nonperforming loans jumped to $21.8M (1.78% of loans) from $17.4M (1.46%) at year-end, driven by two multi-family loans totaling $5.9M, including a $3.5M loan placed on nonaccrual due to troubled modification. NPL coverage fell to 77.9% from 94.6%.
Exhibit 99.1 view on EDGAR → -
high
Completed merger with Farmers Bancorp on July 1, 2026; combined bank operates as First Bank Midwest. Q2 results exclude Farmers operations, which will first appear in Q3 2026.
Exhibit 99.1 view on EDGAR → -
medium
Net interest margin expanded to 3.22% from 3.10% in Q1 and 2.93% in Q2 2025, reflecting higher loan yields and improved funding costs despite the Fed holding rates at 3.50%-3.75%.
Exhibit 99.1 view on EDGAR →
Summary
Richmond Mutual Bancorporation reported second quarter 2026 earnings of $2.2 million, or $0.22 per diluted share, down 21% sequentially from $0.28 in Q1 2026 and 15% year-over-year from $0.26 in Q2 2025.
The sequential decline was driven primarily by $1.9 million in non-recurring merger-related expenses (professional fees and transaction costs) and a higher provision for credit losses, partially offset by stronger net interest income.
The company completed its merger with Farmers Bancorp on July 1, 2026, immediately after quarter-end; Q2 results do not include Farmers operations, which will first appear in Q3 2026 results. The combined bank now operates as First Bank Midwest. The quarter showed mixed credit trends. Net interest margin expanded to 3.22% from 3.10% in Q1 and 2.93% a year earlier, reflecting higher loan yields and improved funding costs. However, nonperforming loans rose to $21.8 million (1.78% of total loans) from $17.4 million (1.46%) at year-end 2025, driven by two multi-family loans totaling $5.9 million—including a $3.5 million loan placed on nonaccrual due to a troubled modification. NPL coverage fell to 77.9% from 94.6% at year-end. Investors should watch Q3 results for the first combined-entity performance and whether the multi-family credit deterioration continues or stabilizes.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Richmond Mutual Bancorporation announced second quarter 2026 earnings results.
Added in current filing · verify on EDGAR →
On July 27, 2026, the Registrant announced second quarter 2026 earnings.
The company disclosed second quarter 2026 financial results. The 8-K body does not provide specific figures; detailed results are contained in the earnings release attached as Exhibit 99.1.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
net income of $2.2 million, or diluted earnings per share of $0.22, for the second quarter of 2026. This compares to net income of $2.8 million, or $0.28 diluted earnings per share, for the first quarter of 2026, and net income of $2.6 million, or diluted earnings per share of $0.26, for the second quarter of 2025.
Richmond Mutual Bancorporation reported net income of $2.2 million ($0.22 per diluted share) for Q2 2026, down from $2.8 million ($0.28 per share) in Q1 2026 and $2.6 million ($0.26 per share) in Q2 2025. The sequential decline was driven by $1.9 million in non-recurring merger-related expenses and a higher provision for credit losses, partially offset by higher net interest income and improved net interest margin.
Added in current filing · view on EDGAR →
On July 1, 2026, the Company completed its previously announced merger with Farmers Bancorp pursuant to the Agreement and Plan of Merger dated November 11, 2025. Immediately thereafter, The Farmers Bank merged with and into First Bank Richmond. The combined company continues to operate as Richmond Mutual Bancorporation, Inc., while the combined bank is operating under the name First Bank Midwest.
Richmond Mutual Bancorporation completed its merger with The Farmers Bancorp on July 1, 2026, immediately after the quarter ended. The combined bank now operates as First Bank Midwest, with the holding company retaining the Richmond Mutual Bancorporation name and RMBI ticker. The Q2 2026 results do not include Farmers Bancorp operations, which will first appear in Q3 2026 results.
Added in current filing · view on EDGAR →
$1.9 million of nonrecurring merger-related expenses recorded in the current quarter, consisting primarily of professional fees and other transaction-related costs.
The company recorded $1.9 million in non-recurring merger-related expenses during Q2 2026, primarily professional fees and transaction costs associated with the Farmers Bancorp acquisition. These expenses were the primary driver of the sequential earnings decline from Q1 2026.
Thanks — your feedback helps us improve report quality.
Figures/quotes linked to EDGAR · Narrative written by AI · Jul 28, 2026 · How we verify