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 declared a special cash dividend of $0.50 per share. Chairman Garry Kleer stated that this decision aligns with sound capital management strategies, enabling the company to preserve its growth potential. The dividend will be paid on May 5, 2021, to stockholders on record as of April 21, 2021. This announcement reflects the company's commitment to returning value to shareholders while maintaining financial stability amid fluctuating economic conditions.
Richmond Mutual Bancorporation (NASDAQ: RMBI) announced a cash dividend of $0.07 per share, reflecting a 40.0% increase from the previous $0.05 declared in November 2020. This dividend will be payable on March 18, 2021, to stockholders of record as of March 4, 2021. The company operates through First Bank Richmond, providing community-oriented financial services across multiple locations in Indiana and Ohio.
Richmond Mutual Bancorporation, Inc. (RMBI) issued a correction to its January 28, 2021 earnings release, mistakenly stating the date as January 28, 2020. This correction does not present new financial information but acknowledges a clerical error. The company remains committed to transparency and accurate reporting of its financial performance.
Richmond Mutual Bancorporation (NASDAQ: RMBI) reported net income of $2.5 million, or $0.21 diluted EPS, for Q4 2020, matching Q3 2020 but recovering from a net loss of $12.5 million in Q4 2019. Full year net income stood at $10.0 million, a turnaround from a $14.1 million loss in 2019. Total assets reached $1.1 billion, with a 9.5% increase year-over-year. The bank's Tier I capital ratio was a strong 14.28%. Although loan modifications decreased significantly, nonperforming loans rose to $4.8 million, indicating ongoing economic pressures.
Richmond Mutual Bancorporation (NASDAQ: RMBI) announced the unexpected passing of director W. Ray (Steve) Stevens, III, on November 25, 2020. Mr. Stevens had over 25 years of experience as a director at First Bank Richmond and contributed significantly to the company's recent transition to a public entity. Garry Kleer, CEO, expressed deep sorrow over the loss, emphasizing Stevens' integral role in the bank's accomplishments. The company operates multiple financial service locations across Indiana and Ohio.
Richmond Mutual Bancorporation (NASDAQ: RMBI) has declared a cash dividend of $0.05 per share on its common stock. This dividend is payable on December 17, 2020, to shareholders on record as of the close of business on December 3, 2020. The announcement reflects the bank's commitment to returning value to its shareholders amidst a challenging economic environment, which has been influenced by the ongoing COVID-19 pandemic.
Richmond Mutual Bancorporation reported a net income of $2.5 million or $0.21 diluted EPS for Q3 2020, unchanged from Q2 2020 but improved from a net loss of $3.3 million in Q3 2019. For the first nine months of 2020, net income totaled $7.5 million.
The company's stockholders' equity rose to $191.7 million. Total assets increased by 7% to $1.1 billion, while loans net of allowance slightly declined to $750.6 million.
Richmond Mutual Bancorporation (NASDAQ: RMBI) announced a cash dividend of $0.05 per share, payable on September 17, 2020. The record date for stockholders is September 3, 2020. The institution, based in Richmond, Indiana, operates First Bank Richmond and offers various traditional financial services across multiple locations in Indiana and Ohio.
Richmond Mutual Bancorporation (NASDAQ: RMBI) reported a net income of $2.5 million, or $0.20 diluted earnings per share, for Q2 2020, unchanged from Q1 2020 but a significant rise from $335,000 in Q2 2019. Total assets reached $1.1 billion, up 15.6% from the end of 2019, primarily due to a $65.7 million increase in loans, largely attributed to Paycheck Protection Program (PPP) loans. The bank has also approved a 5-cent dividend and initiated a 5% stock buyback. The allowance for loan losses increased to $8.5 million amid ongoing uncertainties related to COVID-19.
Richmond Mutual Bancorporation announced a stock repurchase program allowing it to buy back up to 676,331 shares, or 5% of its outstanding stock, over the next twelve months. This initiative is based on the company's current stock price and strong capital position of its subsidiary, First Bank Richmond. The repurchase will be facilitated through a trading plan with Keefe, Bruyette & Woods, ensuring compliance with relevant regulations. Management believes this buyback represents a valuable investment opportunity that could enhance shareholder value.