RICHMOND MUTUAL BANCORPORATION, INC. ANNOUNCES 2025 FOURTH QUARTER AND FISCAL YEAR END FINANCIAL RESULTS
Rhea-AI Summary
Richmond Mutual Bancorporation (NASDAQ: RMBI) reported Q4 2025 net income $3.4M ($0.35 diluted EPS) and FY 2025 net income $11.6M ($1.17 diluted EPS). Q4 EPS rose 45.8% YoY and fell 2.8% sequentially. Annualized net interest margin expanded to 3.11% in Q4 2025. Assets and loans were each $1.5B and $1.2B respectively at year end. Nonperforming loans increased to $17.4M (1.46%). The company announced a proposed merger with Farmers Bancorp valued at approximately $82M (3.40 shares per Farmers share); Farmers shareholders would own ~38% of the combined company pending approvals.
Positive
- Q4 net income of $3.4 million
- FY 2025 net income of $11.6 million
- Diluted EPS of $1.17 for FY 2025
- Net interest margin expanded to 3.11% in Q4 2025
- Proposed merger valued at approximately $82 million
Negative
- Nonperforming loans rose to $17.4 million (1.46%)
- Provision for credit losses of $409,000 in Q4 2025
- Acquisition-related expenses of ~$467,000 reduced Q4 pre-tax income
- Noninterest-bearing deposits declined to $100.1 million (9.0% of deposits)
News Market Reaction
On the day this news was published, RMBI declined 2.26%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
RMBI gained 3.92% while peers were mixed: FCAP +3.28%, RBKB +4.69%, LARK +4.02%, EBMT +0.14%, and CZWI -1.07%, suggesting a largely stock-specific response to these results and merger details.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Oct 23 | Q3 2025 earnings | Positive | +0.1% | Stronger Q3 earnings with higher EPS and wider 3.07% net interest margin. |
| Jul 23 | Q2 2025 earnings | Positive | -3.1% | Q2 EPS up 30% with margin improving to 2.93% and solid capital. |
| Apr 24 | Q1 2025 earnings | Negative | -1.1% | Q1 EPS down versus 2024 amid higher provisions and rising nonperformers. |
| Jan 23 | Q4 2024 earnings | Positive | +0.2% | Improved Q4 2024 earnings with higher net interest income and NIM at 2.70%. |
Earnings releases have generally produced modest stock moves, with mostly aligned reactions and one notable selloff despite positive results.
Over the last year, RMBI’s earnings releases have highlighted steady asset levels around $1.5B, expanding net interest margin, and improving profitability. Prior quarters showed rising net income and EPS, supported by higher net interest income and stable deposits of about $1.1B. Credit quality metrics have shown some deterioration, with higher provisions and nonperforming loans. Today’s Q4 and full-year 2025 results continue the theme of margin expansion and earnings growth while layering on merger-related expenses tied to the Farmers Bancorp transaction.
Historical Comparison
In the past year, RMBI’s 4 earnings releases led to average moves of about 1.12%. Today’s 3.92% move is larger than typical but still within a moderate reaction range for the name.
Earnings updates across 2024–2025 show net interest margin progressing from 2.70% in Q4 2024 to 2.79%, then 2.93%, and 3.07%, culminating in today’s reported 3.11% margin.
Market Pulse Summary
This announcement details Q4 2025 and full-year 2025 results, highlighting net income of $3.4M for the quarter and $11.6M for the year, driven by an improved net interest margin of 3.11%. It also updates on the pending all-stock merger with The Farmers Bancorp, including related expenses of $467,000. Investors may watch trends in nonperforming loans at $17.4M (1.46%), provision levels, capital ratios like Tier 1 at 10.95%, and progress toward regulatory and shareholder approvals for the merger.
Key Terms
net interest margin financial
allowance for credit losses financial
provision for credit losses financial
nonperforming loans financial
tier 1 capital financial
fhlb borrowings financial
federal open market committee financial
federal funds rate financial
AI-generated analysis. Not financial advice.
The growth in net income and diluted earnings per share for the fourth quarter of 2025 compared to same quarter of 2024, was primarily driven by higher net interest income resulting from an expanded net interest margin, reflecting higher asset yields and lower funding costs.
For the year ended December 31, 2025, net income totaled
Proposed Merger with The Farmers Bancorp, Frankfort, Indiana
On November 11, 2025, the Company entered into an Agreement and Plan of Merger (the "merger agreement") with Farmers Bancorp. The merger agreement provides that, upon the terms and subject to the conditions set forth therein, Farmers Bancorp will merge with and into the Company, with the Company as the surviving corporation (the "merger"). Immediately after the merger, the Company intends to merge The Farmers Bank, a wholly owned subsidiary of Farmers Bancorp, with and into First Bank Richmond, a wholly owned subsidiary of the Company, with First Bank Richmond as the surviving institution. The transaction was approved and adopted by the Board of Directors of each company and is expected to be completed during the second quarter of 2026, subject to customary closing conditions, regulatory approval, and approval of the Company's and Farmers Bancorp's shareholders.
Under the terms of the merger agreement, holders of Farmers Bancorp common stock will receive 3.40 shares of Company common stock for each share of Farmers Bancorp common stock. The aggregate consideration was valued at approximately
The combined company will continue to trade on the Nasdaq Capital Market under the ticker symbol "RMBI." The holding company will operate under the name "Richmond Mutual Bancorporation, Inc.," while the combined bank will operate under a new name to be jointly determined by the parties prior to closing. The administrative headquarters of the combined company will be located in
President's Message
Garry Kleer, Chairman, President, and Chief Executive Officer, commented, "Our fourth quarter and full-year 2025 results reflect the continued strength of our core banking franchise, disciplined balance sheet management, and the dedication of our employees. Net income and earnings per share increased meaningfully compared to the prior year, driven primarily by higher net interest income resulting from an expanded net interest margin, as we benefited from higher asset yields and prudent management of funding costs."
Mr. Kleer concluded, "During the quarter, we also announced our proposed merger with Farmers Bancorp, a transaction we believe will enhance our scale, broaden our market presence, create significant earnings per share growth, and strengthen our ability to serve customers across our combined footprint while preserving our community banking culture. As we work toward a successful closing, subject to regulatory and shareholder approvals, we remain focused on thoughtful execution and disciplined integration planning."
Fourth Quarter Performance Highlights:
- Assets totaled
$1.5 billion - Loans and leases, net of allowance for credit losses, totaled
$1.2 billion - Nonperforming loans and leases totaled
$17.4 million 1.46% of total loans and leases, at December 31, 2025, compared to$10.8 million 0.90% , at September 30, 2025, and$6.8 million 0.58% , at December 31, 2024. - The allowance for credit losses totaled
$16.5 million 1.38% of total loans and leases outstanding, at December 31, 2025, compared to$16.4 million 1.37% , at September 30, 2025, and$15.8 million 1.34% , at December 31, 2024. - A provision for credit losses of
$409,000 $269,000 $196,000 - Deposits totaled
$1.1 billion $100.1 million 9.0% of total deposits, compared to$110.8 million 9.9% , at September 30, 2025, and$110.1 million 10.1% , at December 31, 2024. - Stockholders' equity totaled
$145.8 million $140.0 million $132.9 million 9.55% at December 31, 2025. - Book value per share and tangible book value per share were
$13.88 $13.43 $12.29 - Net interest income increased
$239,000 2.1% , to$11.5 million $11.3 million $1.7 million 16.9% , from$9.9 million - The fourth quarter of 2025 included nonrecurring acquisition-related items that negatively impacted net income by approximately
$467,000 $369,000 $0.04 - Annualized net interest margin was
3.11% for the current quarter, compared to3.07% in the preceding quarter and2.70% for the comparable quarter in 2024. - The Bank's Tier 1 capital to total assets was
10.95% at December 31, 2025, well in excess of regulatory requirements, reflecting the Company's strong capital position.
Income Statement Summary
Net interest income before the provision for credit losses increased
Following the peak of the federal funds rate in mid-2023, the Federal Open Market Committee maintained the target range at
Interest income increased
Interest income on loans and leases increased
Interest income on investment securities, excluding FHLB stock, decreased
Interest income on cash and cash equivalents increased
Interest expense decreased
Interest expense on deposits increased
Interest expense on FHLB borrowings decreased
Annualized net interest margin increased to
A provision for credit losses of
Noninterest income increased
Total noninterest expense increased
Income tax expense increased
Balance Sheet Summary
Total assets increased
The increase in loans and leases was attributable to an increase in commercial mortgage, multi-family, and commercial and industrial loans of
Nonperforming loans and leases, consisting of nonaccrual loans and leases and accruing loans and leases 90 days or more past due, totaled
The allowance for credit losses on loans and leases increased
Management regularly evaluates credit exposure across its loan portfolio and within its geographic markets. As of December 31, 2025, the Company's credit risk assessment incorporated ongoing inflationary pressures, capital market volatility, and geopolitical risks. Portfolio stress testing and credit metric monitoring are conducted on an ongoing basis, and management believes the allowance for credit losses remains adequate based on current conditions.
Investment securities decreased
Total deposits increased
As of December 31, 2025, approximately
Stockholders' equity totaled
About Richmond Mutual Bancorporation, Inc.
Richmond Mutual Bancorporation, Inc., headquartered in
FORWARD-LOOKING STATEMENTS:
This document and other filings by the Company with the Securities and Exchange Commission (the "SEC"), as well as press releases or other public or stockholder communications released by the Company, may contain forward-looking statements, including, but not limited to, (i) statements regarding the financial condition, results of operations, and business of the Company, (ii) statements about the Company's plans, objectives, expectations, and intentions and other statements that are not historical facts, and (iii) other statements identified by the words or phrases "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," "intends," or similar expressions that are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current beliefs and expectations of the Company's management and are inherently subject to significant business, economic, and competitive uncertainties and contingencies, many of which are beyond the Company's control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. When considering forward-looking statements, keep in mind these risks and uncertainties. Undue reliance should not be placed on any forward-looking statement, which speaks only as of the date made.
The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: adverse economic conditions in the Company's local market areas or other markets where the Company has lending relationships; employment levels, labor shortages, and the effects of persistent inflation, recessionary pressures, or slowing economic growth; changes in interest rate levels and volatility, and the timing and pace of such changes, including actions by the Federal Reserve, which could adversely affect the Company's revenues and expenses, the value of assets and obligations, and the availability and cost of capital and liquidity; the impact of inflation and monetary and fiscal policy responses thereto, and their impact on consumer and business behavior; the effects of a federal government shutdown, debt ceiling standoff, or other fiscal policy uncertainty; the impact of bank failures or adverse developments at other banks and related negative publicity about the banking industry in general on investor and depositor sentiment; legislative changes; changes in policies by regulatory agencies; the risks of lending and investing activities, including changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the allowance for credit losses on loans and leases; the Company's ability to access cost-effective funding, including maintaining the confidence of depositors; fluctuations in real estate values and both residential and commercial real estate market conditions; competitive pressures among depository institutions, including repricing and competitors' pricing initiatives, and their impact on the Company's market position, loan, and deposit products; changes in management's business strategies, including expectations regarding key growth initiatives and strategic priorities; the ability to adapt to rapid technological changes, including advancements in artificial intelligence, digital banking platforms, and cybersecurity; legislation or regulatory changes, including but not limited to shifts in capital requirements, banking regulation, tax laws, or consumer protection laws; vulnerabilities in information technology systems or third-party service providers, including disruptions, breaches, or attacks; geopolitical developments and international conflicts, including but not limited to tensions or instability in
Further, statements about the potential effects of the Company's proposed merger with Farmers Bancorp on the Company's business, financial results, and condition may constitute forward-looking statements and are subject to the risk that the actual effects may differ, possibly materially, from what is reflected in the forward-looking statements due to factors and future developments which are uncertain, unpredictable and in many cases beyond the Company's control, including the following: events, changes, or circumstances that could give rise to the right of either party to terminate the merger agreement; the possibility that the merger may not be completed on the anticipated terms, within the expected timeframe, or at all; failure to obtain required regulatory or shareholder approvals, or the imposition of conditions that could adversely affect the combined company or expected benefits; challenges in meeting expectations regarding the timing, completion, accounting, and tax treatment of the merger; the potential that anticipated cost savings, synergies, or revenue enhancements may not be realized or may take longer to achieve; higher-than-expected transaction costs or unexpected events; dilution from the issuance of additional Company shares in connection with the merger; potential litigation or other legal proceedings related to the merger; restrictions during pendency of the transaction that may limit business opportunities or strategic initiatives; the ability to successfully integrate operations, systems, personnel, and technologies post-merger; disruption to customer, employee, or vendor relationships, including key community relationships; diversion of management's attention from ongoing operations and strategic initiatives; lower-than-expected revenues or profitability following the merger; changes in credit, capital markets, or economic, political, or regulatory conditions; and competition from banks and other financial service providers; as well as other factors detailed in the Company's filings with the SEC.
The factors listed above could materially affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. The Company does not undertake, and expressly disclaims any obligation, to publicly release the result of any revisions which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events except as required by law.
Financial Highlights (unaudited)
Three Months Ended | Year Ended | ||||||||
SELECTED OPERATIONS DATA: | December 31, | September 30, | December 30, | December 31, | December 30, | ||||
(In thousands, except for per share amounts) | |||||||||
Interest income | $ 21,880 | $ 21,813 | $ 20,670 | $ 85,908 | $ 80,526 | ||||
Interest expense | 10,346 | 10,518 | 10,804 | 42,061 | 41,819 | ||||
Net interest income | 11,534 | 11,295 | 9,866 | 43,847 | 38,707 | ||||
Provision for credit losses | 409 | 269 | 196 | 2,153 | 550 | ||||
Net interest income after provision for credit losses | 11,125 | 11,026 | 9,670 | 41,694 | 38,157 | ||||
Noninterest income | 1,522 | 1,298 | 1,192 | 5,062 | 4,758 | ||||
Noninterest expense | 8,537 | 8,082 | 7,926 | 33,103 | 32,052 | ||||
Income before income tax expense | 4,110 | 4,242 | 2,936 | 13,653 | 10,863 | ||||
Income tax provision | 701 | 645 | 460 | 2,076 | 1,486 | ||||
Net income | $ 3,409 | $ 3,597 | $ 2,476 | $ 11,577 | $ 9,377 | ||||
Shares outstanding | 10,501 | 10,426 | 10,815 | 10,501 | 10,815 | ||||
Average shares outstanding: | |||||||||
Basic | 9,655 | 9,627 | 10,009 | 9,670 | 10,081 | ||||
Diluted | 9,834 | 9,894 | 10,255 | 9,901 | 10,229 | ||||
Earnings per share: | |||||||||
Basic | $ 0.35 | $ 0.37 | $ 0.25 | $ 1.20 | $ 0.93 | ||||
Diluted | $ 0.35 | $ 0.36 | $ 0.24 | $ 1.17 | $ 0.92 | ||||
SELECTED FINANCIAL CONDITION DATA: | December 31, | September 30, | June 30, | March 31, | December 31, | ||||
(In thousands, except for per share amounts) | |||||||||
Total assets | $ 1,525,790 | $ 1,525,565 | $ 1,507,759 | $ 1,522,792 | $ 1,504,875 | ||||
Cash and cash equivalents | 33,130 | 34,265 | 27,211 | 27,032 | 21,757 | ||||
Interest-bearing time deposits | 2,070 | — | 300 | 300 | 300 | ||||
Investment securities | 254,663 | 253,221 | 252,280 | 259,033 | 261,690 | ||||
Loans and leases, net of allowance for credit losses | 1,176,813 | 1,178,232 | 1,167,850 | 1,175,833 | 1,158,879 | ||||
Loans held for sale | 828 | 1,441 | 136 | 388 | 1,093 | ||||
Premises and equipment, net | 13,397 | 13,427 | 13,189 | 12,779 | 12,922 | ||||
Federal Home Loan Bank stock | 13,907 | 13,907 | 13,907 | 13,907 | 13,907 | ||||
Other assets | 30,982 | 31,072 | 32,886 | 33,520 | 34,327 | ||||
Deposits | 1,114,893 | 1,118,258 | 1,096,389 | 1,105,662 | 1,093,940 | ||||
Borrowings | 252,000 | 254,000 | 267,000 | 274,000 | 265,000 | ||||
Total stockholder's equity | 145,781 | 140,035 | 132,322 | 130,932 | 132,872 | ||||
Book value (GAAP) | $ 145,781 | $ 140,035 | $ 132,322 | $ 130,932 | $ 132,872 | ||||
Tangible book value (non-GAAP) | 145,781 | 140,035 | 132,322 | 130,932 | 132,872 | ||||
Book value per share (GAAP) | 13.88 | 13.43 | 12.74 | 12.48 | 12.29 | ||||
Tangible book value per share (non-GAAP) | 13.88 | 13.43 | 12.74 | 12.48 | 12.29 |
The following table summarizes information relating to the Company's loan and lease portfolio at the dates indicated:
(In thousands) | December 31, | September 30, | June 30, | March 31, | December 31, | ||||
Commercial mortgage | $ 414,316 | $ 420,680 | $ 393,632 | $ 387,516 | $ 371,705 | ||||
Commercial and industrial | 142,508 | 138,333 | 140,700 | 136,524 | 126,367 | ||||
Construction and development | 71,705 | 67,446 | 102,367 | 99,953 | 132,570 | ||||
Multi-family | 208,894 | 216,982 | 191,750 | 211,485 | 185,864 | ||||
Residential mortgage | 171,063 | 166,594 | 168,956 | 172,614 | 172,644 | ||||
Home equity | 20,147 | 18,816 | 19,449 | 18,115 | 16,826 | ||||
Direct financing leases | 145,806 | 146,413 | 147,193 | 146,067 | 148,102 | ||||
Consumer | 19,280 | 19,914 | 20,596 | 20,243 | 21,218 | ||||
Total loans and leases | $ 1,193,719 | $ 1,195,178 | $ 1,184,643 | $ 1,192,517 | $ 1,175,296 |
The following table summarizes information relating to the Company's deposits at the dates indicated:
(In thousands) | December 31, | September 30, | June 30, | March 31, | December 31, | ||||
Noninterest-bearing demand | $ 100,091 | $ 110,815 | $ 106,216 | $ 103,353 | $ 110,106 | ||||
Interest-bearing demand | 143,863 | 145,705 | 147,318 | 142,203 | 135,310 | ||||
Savings and money market | 319,337 | 307,667 | 303,241 | 301,427 | 301,311 | ||||
Non-brokered time deposits | 315,655 | 305,821 | 300,143 | 293,892 | 289,626 | ||||
Brokered time deposits | 235,947 | 248,250 | 239,471 | 264,787 | 257,587 | ||||
Total deposits | $ 1,114,893 | $ 1,118,258 | $ 1,096,389 | $ 1,105,662 | $ 1,093,940 |
Average Balances, Interest and Average Yields/Cost. The following tables set forth for the periods indicated, information regarding average balances of assets and liabilities as well as the total dollar amounts of interest income from average interest-earning assets and interest expense on average interest-bearing liabilities, resultant yields, interest rate spread, net interest margin (otherwise known as net yield on interest-earning assets), and the ratio of average interest-earning assets to average interest-bearing liabilities. Average balances have been calculated using daily balances. Non-accruing loans have been included in the table as loans carrying a zero yield. Loan fees are included in interest income on loans and are not material.
Three Months Ended December 31, | |||||||||||
2025 | 2024 | ||||||||||
Average | Interest | Yield/ | Average | Interest | Yield/ | ||||||
(Dollars in thousands) | |||||||||||
Interest-earning assets: | |||||||||||
Loans and leases receivable | $ 19,750 | 6.64 % | $ 18,464 | 6.39 % | |||||||
Securities | 255,437 | 1,587 | 2.49 % | 267,191 | 1,641 | 2.46 % | |||||
FHLB stock | 13,907 | 302 | 8.69 % | 13,907 | 284 | 8.17 % | |||||
Cash and cash equivalents and other | 26,012 | 241 | 3.71 % | 25,438 | 281 | 4.42 % | |||||
Total interest-earning assets | 1,485,617 | 21,880 | 5.89 % | 1,461,876 | 20,670 | 5.66 % | |||||
Non-earning assets | 39,055 | 40,268 | |||||||||
Total assets | 1,524,672 | 1,502,144 | |||||||||
Interest-bearing liabilities: | |||||||||||
Savings and money market accounts | 324,321 | 1,871 | 2.31 % | 303,985 | 1,873 | 2.46 % | |||||
Interest-bearing checking accounts | 143,115 | 386 | 1.08 % | 135,186 | 359 | 1.06 % | |||||
Certificate accounts | 547,100 | 5,578 | 4.08 % | 563,411 | 6,121 | 4.35 % | |||||
Borrowings | 246,000 | 2,511 | 4.08 % | 244,228 | 2,451 | 4.01 % | |||||
Total interest-bearing liabilities | 1,260,536 | 10,346 | 3.28 % | 1,246,810 | 10,804 | 3.47 % | |||||
Noninterest-bearing demand deposits | 106,643 | 104,738 | |||||||||
Other liabilities | 14,748 | 13,595 | |||||||||
Stockholders' equity | 142,745 | 137,001 | |||||||||
Total liabilities and stockholders' equity | 1,524,672 | 1,502,144 | |||||||||
Net interest income | $ 11,534 | $ 9,866 | |||||||||
Net earning assets | $ 225,081 | $ 215,066 | |||||||||
Net interest rate spread(1) | 2.61 % | 2.19 % | |||||||||
Net interest margin(2) | 3.11 % | 2.70 % | |||||||||
Average interest-earning assets to average interest-bearing | 117.86 % | 117.25 % | |||||||||
________________________________________________ | |
(1) | Net interest rate spread represents the difference between the weighted average yield earned on interest-earning assets and the weighted average rate paid on interest bearing liabilities. |
(2) | Net interest margin represents net interest income divided by average total interest-earning assets. |
Year Ended December 31, | |||||||||||
2025 | 2024 | ||||||||||
Average | Interest | Yield/ | Average | Interest | Yield/ | ||||||
(Dollars in thousands) | |||||||||||
Interest-earning assets: | |||||||||||
Loans and leases receivable | $ 77,383 | 6.54 % | $ 71,596 | 6.25 % | |||||||
Securities | 254,838 | 6,470 | 2.54 % | 273,706 | 6,871 | 2.51 % | |||||
FHLB stock | 13,907 | 1,236 | 8.89 % | 13,863 | 1,232 | 8.89 % | |||||
Cash and cash equivalents and other | 21,224 | 818 | 3.85 % | 18,002 | 827 | 4.59 % | |||||
Total interest-earning assets | 1,473,865 | 85,907 | 5.83 % | 1,451,544 | 80,526 | 5.55 % | |||||
Non-earning assets | 39,869 | 41,860 | |||||||||
Total assets | 1,513,734 | 1,493,404 | |||||||||
Interest-bearing liabilities: | |||||||||||
Savings and money market accounts | 312,272 | 7,174 | 2.30 % | 285,946 | 6,833 | 2.39 % | |||||
Interest-bearing checking accounts | 141,154 | 1,507 | 1.07 % | 141,902 | 1,609 | 1.13 % | |||||
Certificate accounts | 543,714 | 22,567 | 4.15 % | 557,216 | 23,309 | 4.18 % | |||||
Borrowings | 262,099 | 10,813 | 4.13 % | 255,969 | 10,068 | 3.93 % | |||||
Total interest-bearing liabilities | 1,259,239 | 42,061 | 3.34 % | 1,241,033 | 41,819 | 3.37 % | |||||
Noninterest-bearing demand deposits | 105,426 | 105,356 | |||||||||
Other liabilities | 13,971 | 13,696 | |||||||||
Stockholders' equity | 135,098 | 133,319 | |||||||||
Total liabilities and stockholders' equity | 1,513,734 | 1,493,404 | |||||||||
Net interest income | $ 43,846 | $ 38,707 | |||||||||
Net earning assets | $ 214,626 | $ 210,511 | |||||||||
Net interest rate spread(1) | 2.49 % | 2.18 % | |||||||||
Net interest margin(2) | 2.97 % | 2.67 % | |||||||||
Average interest-earning assets to average interest-bearing | 117.04 % | 116.96 % | |||||||||
________________________________________________ | |
(1) | Net interest rate spread represents the difference between the weighted average yield earned on interest-earning assets and the weighted average rate paid on interest bearing liabilities. |
(2) | Net interest margin represents net interest income divided by average total interest-earning assets. |
At and for the Three Months Ended | |||||||||
Selected Financial Ratios and Other Data: | December 31, | September 30, | June 30, | March 31, | December 31, | ||||
Performance ratios: | |||||||||
Return on average assets(1) | 0.89 % | 0.95 % | 0.69 % | 0.52 % | 0.66 % | ||||
Return on average equity(1) | 9.55 % | 10.78 % | 7.99 % | 5.89 % | 7.23 % | ||||
Yield on interest-earning assets | 5.89 % | 5.93 % | 5.82 % | 5.68 % | 5.66 % | ||||
Rate paid on interest-bearing liabilities | 3.28 % | 3.35 % | 3.37 % | 3.36 % | 3.47 % | ||||
Average interest rate spread | 2.61 % | 2.58 % | 2.45 % | 2.32 % | 2.19 % | ||||
Net interest margin(1)(2) | 3.11 % | 3.07 % | 2.93 % | 2.79 % | 2.70 % | ||||
Operating expense to average total assets(1) | 2.24 % | 2.14 % | 2.15 % | 2.22 % | 2.11 % | ||||
Efficiency ratio(3) | 65.39 % | 64.18 % | 68.50 % | 73.31 % | 71.68 % | ||||
Average interest-earning assets to average | 117.86 % | 117.25 % | 116.72 % | 116.35 % | 117.25 % | ||||
Asset quality ratios: | |||||||||
Non-performing assets to total assets(4) | 1.14 % | 0.71 % | 0.54 % | 0.46 % | 0.45 % | ||||
Non-performing loans and leases to total gross | 1.46 % | 0.90 % | 0.68 % | 0.59 % | 0.58 % | ||||
Allowance for credit losses to non-performing | 94.64 % | 151.64 % | 201.14 % | 229.90 % | 232.99 % | ||||
Allowance for credit losses to total loans and | 1.38 % | 1.37 % | 1.37 % | 1.35 % | 1.34 % | ||||
Net charge-offs to average outstanding loans | 0.12 % | 0.11 % | 0.21 % | 0.13 % | 0.10 % | ||||
Capital ratios: | |||||||||
Equity to total assets at end of period | 9.55 % | 9.18 % | 8.78 % | 8.60 % | 8.83 % | ||||
Average equity to average assets | 9.36 % | 8.84 % | 8.64 % | 8.85 % | 9.12 % | ||||
Common equity tier 1 capital (to risk weighted | 13.38 % | 13.11 % | 12.99 % | 12.79 % | 12.98 % | ||||
Tier 1 leverage (core) capital (to adjusted | 10.95 % | 10.85 % | 10.75 % | 10.68 % | 10.75 % | ||||
Tier 1 risk-based capital (to risk weighted | 13.38 % | 13.11 % | 12.99 % | 12.79 % | 12.98 % | ||||
Total risk-based capital (to risk weighted | 14.64 % | 14.36 % | 14.24 % | 14.04 % | 14.23 % | ||||
Other data: | |||||||||
Number of full-service offices | 13 | 12 | 12 | 12 | 12 | ||||
Full-time equivalent employees | 180 | 179 | 176 | 171 | 173 | ||||
(1) | Annualized |
(2) | Net interest income divided by average interest-earning assets. |
(3) | Total noninterest expenses as a percentage of net interest income and total noninterest income. |
(4) | Non-performing assets consist of nonaccrual loans and leases, accruing loans and leases more than 90 days past due and foreclosed assets. |
(5) | Non-performing loans and leases consist of nonaccrual loans and leases and accruing loans and leases more than 90 days past due. |
(6) | Capital ratios are for First Bank Richmond. |
Additional Information About the Merger and Where to Find It
This press release 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 with the proposed merger, a registration statement on Form S-4 will be filed with the SEC that will include a joint proxy statement of the Company and Farmers Bancorp and a prospectus of the Company, which will be distributed to the shareholders of the Company and Farmers Bancorp in connection with their votes on the merger of Farmers Bancorp with and into the Company and the issuance of Company common stock in the proposed transaction. INVESTORS AND SECURITY HOLDERS ARE ENCOURAGED TO READ THE REGISTRATION STATEMENT AND JOINT PROXY STATEMENT/PROSPECTUS WHEN THEY BECOME AVAILABLE (AND ANY OTHER DOCUMENTS FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION OR INCORPORATED BY REFERENCE INTO THE JOINT PROXY STATEMENT/PROSPECTUS) BECAUSE SUCH DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION REGARDING THE PROPOSED MERGER AND RELATED MATTERS.
Investors and security holders will be able to obtain free copies of the registration statement on Form S-4 and the related proxy statement/prospectus, when filed, as well as other documents filed with the SEC by the Company through the web site maintained by the SEC at www.sec.gov. These documents, when available, also can be obtained free of charge by accessing the Company's website at www.firstbankrichmond.com under the tab "Investor Relations" and then under "SEC Filings." Alternatively, these documents, when filed with the SEC by the Company, can be obtained free of charge by (1) writing Richmond Mutual at 31 North 9th Street,
Participants in the Solicitation
The Company, Farmers Bancorp and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of the Company and Farmers Bancorp in connection with the proposed transaction. Information about the Company's directors and executive officers is included in the proxy statement for its 2025 annual meeting of the Company's shareholders, which was filed with the SEC on April 16, 2025. Information about Farmer Bancorp's participants and additional information regarding the interests of these participants will be included in the joint proxy statement/prospectus regarding the proposed transaction when it becomes available. Free copies of this document may be obtained as described above.
View original content:https://www.prnewswire.com/news-releases/richmond-mutual-bancorporation-inc-announces-2025-fourth-quarter-and-fiscal-year-end-financial-results-302668555.html
SOURCE Richmond Mutual Bancorporation, Inc.
FAQ
What did Richmond Mutual Bancorporation (RMBI) report for Q4 2025 net income and EPS?
What were Richmond Mutual's full-year 2025 earnings per share and net income?
How did Richmond Mutual's credit metrics change in Q4 2025?
What are the terms and expected ownership from the proposed Farmers Bancorp merger (RMBI)?
How did Richmond Mutual's net interest margin move in Q4 2025 and why does management cite the change?
When is the Richmond Mutual and Farmers Bancorp merger expected to close?
