Welcome to our dedicated page for Richmond Mutual Bancorporation news (Ticker: RMBI), a resource for investors and traders seeking the latest updates and insights on Richmond Mutual Bancorporation stock.
Richmond Mutual Bancorporation, Inc. reports developments tied to its role as the bank holding company for First Bank Richmond. News commonly covers quarterly operating results, net interest income and margin trends, expense management, share repurchase effects on per-share results, and regulatory capital levels at the bank subsidiary.
The company’s updates also include board-declared cash dividends on Richmond Mutual Bancorporation common stock. Its banking model centers on deposits, loans secured by commercial and multifamily real estate, residential mortgages, consumer loans, direct financing leases, commercial and industrial loans, investment securities, and Federal Home Loan Bank funding.
Richmond Mutual Bancorporation (NASDAQ: RMBI) reported net income of $3.2 million or $0.29 diluted earnings per share for Q3 2022, a decrease from $3.5 million or $0.31 in Q2 2022, but an increase from $3.1 million or $0.27 in Q3 2021. Total assets remained stable at $1.3 billion. Loans and leases rose to $915.5 million. Nonperforming loans slightly increased to 0.92% of total loans. Deposits grew to $958.6 million, while stockholders' equity fell to $125.0 million. The company maintained profitability amid rising interest rates.
Richmond Mutual Bancorporation (NASDAQ: RMBI) declared a cash dividend of $0.10 per share on August 17, 2022. The dividend is payable on September 15, 2022 to shareholders on record as of September 1, 2022. This announcement underscores the company’s commitment to returning value to its investors.
Richmond Mutual Bancorporation (RMBI) reported a net income of $3.5 million or $0.31 diluted earnings per share for Q2 2022, marking increases of 19.2% and 29.2% compared to Q1 2022 and Q2 2021, respectively. Total assets remained stable at $1.3 billion. Loans and leases grew to $891.9 million, while deposits surged by 5.3% to $948.3 million. The net interest margin improved to 3.45%. However, stockholders' equity fell 23.0% from the previous year, primarily due to market adjustments and share repurchases.
Richmond Mutual Bancorporation (NASDAQ: RMBI) has approved a new stock repurchase program, allowing for the buyback of up to 1,184,649 shares, or about 10% of its outstanding shares, over the next year. This follows the completion of a previous program that purchased 817,984 shares. The company will utilize a trading plan with Keefe, Bruyette & Woods, Inc. to facilitate these purchases, which may occur at various times based on market conditions. The repurchase program aims to enhance shareholder value.
Richmond Mutual Bancorporation (NASDAQ: RMBI) declared a cash dividend of $0.10 per share on May 18, 2022. The dividend is payable on June 16, 2022 to shareholders of record by June 2, 2022. This announcement reflects the company's commitment to returning value to its shareholders amidst ongoing market challenges.
Richmond Mutual Bancorporation (NASDAQ: RMBI) reported $3.0 million in net income for Q1 2022, equating to $0.26 diluted EPS. This marks increases of 8.3% and 18.2% from Q4 2021 and Q1 2021, respectively. Total assets stood at $1.3 billion, with net loans and leases growing to $850.0 million. Deposits rose to $909.5 million. However, net interest income saw a slight decline, decreasing by 0.4% from the previous quarter. Stockholders' equity decreased 12.8% to $157.3 million, influenced by market adjustments and share buybacks.
Richmond Mutual Bancorporation (NASDAQ: RMBI) has declared a cash dividend of $0.10 per share, marking a significant 43% increase from the previous $0.07 per share dividend announced in November 2021. This dividend will be payable on March 17, 2022, to stockholders on record as of March 3, 2022. The firm, headquartered in Richmond, Indiana, operates through several locations in Indiana and Ohio, providing community-oriented financial and trust services.
Richmond Mutual Bancorporation (NASDAQ: RMBI) will hold its annual shareholders meeting on May 18, 2022. Shareholders must be on record by March 25, 2022 to vote. The company operates First Bank Richmond, offering financial services across eight locations in Indiana and Ohio. For investors, the meeting is critical as it sets the stage for future governance and decision-making.
Richmond Mutual Bancorporation (NASDAQ: RMBI) reported a fourth-quarter net income of $2.7 million, equivalent to $0.24 diluted earnings per share, a decrease from $3.1 million or $0.27 per share in Q3 2021. For the full year, net income rose to $11.1 million or $0.96 per share, up from $10 million or $0.82 in 2020. Notably, the company incurred a $665,000 one-time pension plan expense in Q4. Excluding this charge, net income was $3.2 million, reflecting ongoing operational strength with total assets reaching $1.3 billion at year-end.
Richmond Mutual Bancorporation has declared a cash dividend of $0.07 per share on its common stock. This dividend will be payable on December 16, 2021, to stockholders who are on record as of December 2, 2021. The announcement highlights the company's ongoing commitment to providing value to its investors amid economic uncertainties.