Richmond Mutual Bancorporation, Inc. · NASDAQ:RMBI
Richmond Mutual Bancorporation — Merger or Acquisition (November 2025)
17 slides from Richmond Mutual Bancorporation's merger presentation, Nov 12, 2025
Slide 1: Strategic Merger: Creating a Top-Tier Community Bank
Strategic Merger CREATING A TOP-TIER COMMUNITY BANK November 12th, 2025 Power in Partnership
Slide 2: Disclosures
Disclosures FORWARD-LOOKING STATEMENTS This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the expected timing and benefits of the proposed merger between Richmond Mutual Bancorporation, Inc. (
Slide 3: Disclosures (continued)
Disclosures (continued) Additional Information About the Merger and Where to Find It This document does not constitute an offer to sell or the solicitation of an offer to buy or exchange any securities or a solicitation of any vote or approval with respect to the proposed transaction. In connection
Slide 4: Richmond Mutual + Farmers Bancorp: Unlocking Strength Through Scale
Richmond Mutual (RMBI) + Farmers Bancorp (FABP): Unlocking Strength Though Scale Pro Forma Franchise Highlights Accelerates Scale, Strength and Shareholder Value $2.6B $2.0B $2.0B Assets(1) Deposits(1) Loans(1) RMBI (14) FABP (12) ~1.2% ~18% Lafayette Sidney Run-Rate Run-Rate Frankfort, IN ROA(2) RO
Slide 5: Transaction Rationale
Transaction Rationale Strategically Compelling Financially Attractive Creating Shareholder Value • Creates a top-tier • Expected to deliver material • Scale unlocks operating community bank in Central EPS accretion (~35%) leverage and superior and East Central Indiana as profitability well as
Slide 6: Complementary & Diversified Combined Loan Portfolio
Complementary & Diversified Combined Loan Portfolio Increased Lending Limit to Benefit the Combined Company PRO FORMA Consumer 2% Consumer C&I Multifam. Multifam. C&I 5% C&I Consumer 2% Multifam. 11% 13% 14% 12% 18% Other 2% Other 13% NOO CRE Other 9% 32% 4% $1.2B CLD 6% $0.8B CLD 6% NOO CRE $2.0B C
Slide 7: High Quality Funding Base
High Quality Funding Base Merger Brings Significant Demand Deposits and Increased Liquidity PRO FORMA CDs CDs ≥$100k <$100k CDs CDs ≥$100k CDs ≥$100k CDs 17% MMDA 3% <$100k 17% 18% + 20% <$100k 33% Savings Demand 25% $1.1B 10% $0.9B $2.0B Demand MMDA 18% Other Trans. Demand + Accts 28% Savings Other
Slide 8: Key Merger Terms
Key Merger Terms • 100% Stock • Fixed exchange ratio of 3.4 shares of RMBI common stock to be issued for each share of FABP Consideration • $44.71 per share based on RMBI closing price of $13.15 as of 11/10/2025 • Aggregate transaction value of $82 million(1) • Price / TBVPS: 100% Multiples • Price
Slide 9: Merger Drives Returns Towards the Peer Top Quartile
Merger Drives Returns Towards the Peer Top Quartile… Compelling Financial Impact Pro Forma Profitability vs Midwest Banks $1B - $4B in Assets(4) ~35% Run-Rate ROA(1)(2) Peer Median: 1.0% Run-Rate EPS 1.4% 1.4% 1.2% 1.2% 1.2% 1.3% +~20bps Accretion(1)(2) 1.1% 1.1% ~13% 0.9% 0.9% 0.9% 1.0% 1.0% 0.8% 0
Slide 10: Creating Significant Upside
… Creating Significant Upside Pro Forma Valuation vs Midwest Banks $1B - $4B in Assets(1) Price / Tangible Book Value(2) Peer Median: 124% 165% 144% 123% 123% 123% 127% 128% 130% 100% 102% 104% 106% 109% 97% 98% 82% 85% RMBI PF FABP Pro Forma(3) Price / Run-Rate EPS(2)(4) Peer Median: 9.7x 15.6x 13.
Slide 11: Impact on Our Key Stakeholders
Impact on Our Key Stakeholders Our Borrowers / Depositors Our Safety & Soundness + Wider product suite and customer service capabilities to + Improved liquidity ratios benefit existing relationships of each party + Capital ratios remain significantly above well-capitalized + Increase in size creates
Slide 12: Key Takeaways
Key Takeaways Creates a top-tier community bank focused through Central and East Central Indiana & Western and Central Ohio Financially attractive deal with significant EPS accretion & short TBV earnback Compatible operating and credit cultures with continued focus on communities Enhanced operating
Slide 13: Appendix
Appendix Power in Partnership 13
Slide 14: Key Merger Model Assumptions
Key Merger Model Assumptions • Cost savings equal to 22.5% of FABP’s noninterest expense (~10% of combined noninterest expense), Cost Savings / (50% phased in 2026; 100% in years thereafter) Synergies • Additional revenue synergies identified, but not modeled • One-time, pre-tax merger expenses of $
Slide 15: Richmond Mutual Historical Financial Highlights
Richmond Mutual Historical Financial Highlights Year Ended December 31, Quarter Ended, ($000 except per share data) 2020 2021 2022 2023 2024 3/31/25 6/30/25 9/30/25 Summary Balance Sheet: Total Assets $1,084,193 $1,267,640 $1,328,026 $1,461,024 $1,504,875 $1,522,792 $1,507,759 $1,525,565 Loans Held
Slide 16: Farmers Bancorp Historical Financial Highlights
Farmers Bancorp Historical Financial Highlights Year Ended December 31, Quarter Ended, ($000 except per share data) 2020 2021 2022 2023 2024 3/31/25 6/30/25 9/30/25 Summary Balance Sheet: Total Assets $710,919 $776,274 $851,708 $956,302 $1,038,283 $1,048,284 $1,102,492 $1,118,960 Loans Held for Inve
Slide 17: Power in Partnership
Power in Partnership Power in Partnership
Richmond Mutual Bancorporation — Merger or Acquisition (November 2025) on 6ix