RICHMOND MUTUAL BANCORPORATION, INC. ANNOUNCES 2026 FIRST QUARTER FINANCIAL RESULTS

About this update from Richmond Mutual Bancorporation, Inc.

[{"type":"text","content":"RICHMOND, Ind., April 23, 2026 /PRNewswire/ -- Richmond Mutual Bancorporation, Inc., a Maryland corporation (the "Company") (NASDAQ: RMBI), parent company of First Bank Richmond, today reported net income of $2.8 million, or $0.28 diluted earnings per share, for the first quarter of 2026. This compares to net income of $3.4 million, or $0.35 diluted earnings per share, for the fourth quarter of 2025, and net income of $2.0 million, or $0.20 diluted earnings per share, for the first quarter of 2025.","length":513,"tagName":"p"},{"type":"text","content":"The decrease in net income and diluted earnings per share from the fourth quarter of 2025 primarily reflects a higher provision for credit losses, a slight decline in net interest income due to two fewer calendar days in the quarter, lower noninterest income, and higher noninterest expense. The increase in net income and diluted earnings per share for the first quarter of 2026 compared to the same quarter of 2025 was primarily driven by higher net interest income resulting from an expanded net interest margin, reflecting higher asset yields and lower funding costs, as well as an increase in noninterest income, partially offset by higher noninterest expense.","length":665,"tagName":"p"},{"type":"text","content":"Proposed Merger with The Farmers Bancorp, Frankfort, Indiana","length":60,"tagName":"p"},{"type":"text","content":"On November 11, 2025, the Company entered into an Agreement and Plan of Merger (the "merger agreement") with Farmers Bancorp, pursuant to which Farmers Bancorp will merge with and into the Company, with the Company as the surviving corporation (the "merger"). Immediately following the merger, The Farmers Bank will merge with and into First Bank Richmond, with First Bank Richmond as the surviving institution.","length":431,"tagName":"p"},{"type":"text","content":"The transaction has been approved by the boards of directors of both companies, and all required regulatory approvals have been received. A special meeting of Farmers Bancorp shareholders to approve the merger agreement and related transactions is scheduled for May 26, 2026. The Company will seek shareholder approval of the issuance of its shares in the transaction at its annual meeting of shareholders to be held on May 27, 2026. The transaction is expected to be completed ...

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