Welcome to our dedicated page for Richmond Mut Bancorporation news (Ticker: RMBI), a resource for investors and traders seeking the latest updates and insights on Richmond Mut Bancorporation stock.
Richmond Mutual Bancorporation, Inc. (NASDAQ: RMBI) is the holding company for First Bank Richmond, a community-oriented financial institution headquartered in Richmond, Indiana. This news page aggregates company announcements, earnings releases, merger updates, and other public communications related to RMBI and its banking operations in Indiana and Ohio.
Investors and followers of RMBI can use this feed to review the company’s reported financial performance, including quarterly net income, diluted earnings per share, net interest income, noninterest income, noninterest expense, and credit quality metrics such as nonperforming loans and leases and allowance for credit losses. Management commentary in these releases discusses factors that influence results, such as changes in interest rates, funding costs, and loan and lease portfolio performance.
Richmond Mutual Bancorporation, Inc. also issues news about capital management actions, including cash dividend declarations on its common stock and share repurchase activity, as disclosed in press releases and related Form 8-K filings. Regular dividend announcements in 2025, for example, reported a cash dividend of $0.15 per share, with one release noting a 7% increase from the prior quarter’s dividend.
A key area of recent news coverage is the announced strategic merger with The Farmers Bancorp, Frankfort, Indiana. Joint press releases and Form 8-K filings describe the Agreement and Plan of Merger, the planned combination of Farmers with Richmond Mutual, and the subsequent merger of The Farmers Bank into First Bank Richmond, subject to customary approvals and conditions. Updates related to this transaction, including regulatory and shareholder steps, are part of the company’s news flow.
By reviewing the RMBI news stream, readers can follow reported developments in the company’s community banking activities, capital actions, and merger process, all based on official press releases and SEC-referenced communications.
Richmond Mutual Bancorporation (NASDAQ: RMBI) has announced a quarterly cash dividend of $0.14 per share. The dividend will be paid on December 19, 2024 to stockholders of record as of the close of business on December 5, 2024.
Richmond Mutual Bancorporation (NASDAQ: RMBI) reported net income of $2.5 million, or $0.24 diluted earnings per share, for Q3 2024, showing improvements from $2.1 million ($0.20 per share) in Q2 2024 and $1.9 million ($0.19 per share) in Q3 2023. The company's assets remained stable at $1.5 billion, with loans and leases totaling $1.1 billion. Nonperforming loans decreased to $6.7 million (0.58% of total loans) from $7.7 million in Q2. Net interest margin declined to 2.60% from 2.64% in Q2, while deposits increased to $1.1 billion, with noninterest-bearing deposits representing 9.0% of total deposits.
Richmond Mutual Bancorporation (NASDAQ: RMBI) has announced a quarterly cash dividend of $0.14 per share on its common stock. The dividend will be payable on September 18, 2024 to stockholders of record at the close of business on September 4, 2024. This announcement demonstrates the company's commitment to returning value to shareholders and may indicate confidence in its financial stability. The dividend declaration by the Board of Directors suggests a positive outlook for the company's near-term financial performance.
Richmond Mutual Bancorporation (NASDAQ: RMBI) reported net income of $2.1 million, or $0.20 diluted earnings per share, for Q2 2024. This represents a decrease from $2.4 million in Q1 2024 and $2.7 million in Q2 2023. Key highlights include:
- Assets remained stable at $1.5 billion
- Loans and leases, net of allowance, totaled $1.1 billion
- Deposits increased to $1.1 billion
- Net interest income decreased 2.6% to $9.6 million
- Net interest margin declined to 2.64%
- Nonperforming loans increased to 0.67% of total loans
The company faced pressure on its net interest margin due to rising interest rates affecting liabilities more than assets. However, loan portfolio performance remained strong, and average deposit balances increased during the quarter.
Richmond Mutual Bancorporation announced a quarterly cash dividend of $0.14 per share, payable on June 13, 2024, to shareholders of record by May 30, 2024. This announcement reflects the company's continued commitment to returning value to its shareholders.
Richmond Mutual Bancorporation (NASDAQ: RMBI) announced an extension of its stock repurchase program, originally set to expire on June 6, 2024, to June 6, 2025. As of May 15, 2024, 723,195 shares remain available for repurchase.
Since the program's inception, the company has repurchased 782,840 shares, costing $8.8 million. The Board also authorized a Rule 10b5-1 trading plan with Keefe, Bruyette & Woods to facilitate stock repurchases during blackout periods. The plan will be subject to market conditions and pricing constraints.
CEO Garry Kleer emphasized the Board's confidence in the company's future, citing strong liquidity, capital position, and a high-quality loan and lease portfolio despite current industry uncertainties.
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