RICHMOND MUTUAL BANCORPORATION, INC. ANNOUNCES 2026 FIRST QUARTER FINANCIAL RESULTS
Rhea-AI Summary
Richmond Mutual Bancorporation (NASDAQ: RMBI) reported Q1 2026 net income of $2.8 million and diluted EPS $0.28. Annualized net interest margin was 3.10%. Assets and loans remained stable at $1.5B and $1.2B. The company announced a proposed merger with Farmers Bancorp; required regulatory approvals are complete and shareholder votes are scheduled for May 26–27, 2026.
Positive
- Net income of $2.8 million in Q1 2026
- Diluted EPS of $0.28 for Q1 2026
- Annualized net interest margin at 3.10%
- Assets stable at $1.5 billion
- Bank Tier 1 capital ratio 11.10%
Negative
- QoQ net income decline from $3.4M to $2.8M
- Provision for credit losses rose to $693,000
- Nonperforming loans increased to 1.48% of loans
- Nonrecurring expenses totaled $601,000 in Q1
News Market Reaction – RMBI
In the Apr 24 session, RMBI gained 0.47%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jan 22 | Q4/FY 2025 earnings | Positive | -2.3% | Strong Q4 and FY 2025 results plus Farmers Bancorp merger details. |
| Oct 23 | Q3 2025 earnings | Positive | +0.1% | Q3 earnings with 54% YoY EPS growth and margin expansion. |
| Jul 23 | Q2 2025 earnings | Positive | -3.1% | Strong Q2 EPS growth and higher net interest margin. |
| Apr 24 | Q1 2025 earnings | Negative | -1.1% | Q1 2025 EPS decline versus both Q4 2024 and Q1 2024. |
| Jan 23 | Q4 2024 earnings | Positive | +0.2% | Q4 2024 EPS up year-over-year with margin improvement. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent earnings releases often highlighted margin expansion and stable assets, yet market reactions have been modest, with several strong quarters met by flat or negative price moves.
Over the past five earnings cycles, RMBI has reported steady asset levels around $1.5B, improving net interest margin from 2.70% in Q4 2024 to over 3.00% in late 2025, and rising net income, including $11.6M for FY 2025. Credit quality has weakened, with nonperforming loans increasing from 0.58% to 1.46%, and allowance levels rising accordingly. Despite generally positive earnings trends, shares often moved little or even fell on these reports, suggesting investors have been cautious around asset quality and the announced Farmers Bancorp merger.
Key Terms
nonaccrual loans financial
nonperforming loans financial
allowance for credit losses financial
net interest margin financial
FHLB borrowings financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
The decrease in net income and diluted earnings per share from the fourth quarter of 2025 primarily reflects a higher provision for credit losses, a slight decline in net interest income due to two fewer calendar days in the quarter, lower noninterest income, and higher noninterest expense. The increase in net income and diluted earnings per share for the first quarter of 2026 compared to the same quarter of 2025 was primarily driven by higher net interest income resulting from an expanded net interest margin, reflecting higher asset yields and lower funding costs, as well as an increase in noninterest income, partially offset by higher noninterest expense.
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, pursuant to which Farmers Bancorp will merge with and into the Company, with the Company as the surviving corporation (the "merger"). Immediately following the merger, The Farmers Bank will merge with and into First Bank Richmond, with First Bank Richmond as the surviving institution.
The transaction has been approved by the boards of directors of both companies, and all required regulatory approvals have been received. A special meeting of Farmers Bancorp shareholders to approve the merger agreement and related transactions is scheduled for May 26, 2026. The Company will seek shareholder approval of the issuance of its shares in the transaction at its annual meeting of shareholders to be held on May 27, 2026. The transaction is expected to be completed during the second quarter of 2026, subject to shareholder approvals and the satisfaction of customary closing conditions.
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 total value of the transaction will fluctuate based on the Company's stock price prior to closing. Upon completion of the transaction, Farmers Bancorp shareholders are expected to own 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.," and 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, "We had a solid quarter relative to a year ago, with earnings per share up
Mr. Kleer concluded, "We also recently announced our proposed merger with Farmers Bancorp, a transaction we believe will enhance our scale, broaden our market presence, and strengthen our ability to serve customers across our combined footprint while preserving our community banking culture. We have received all required regulatory approvals, and shareholder voting is scheduled for later this quarter. As we move toward closing, we are focused on thoughtful execution and disciplined integration planning. As we move through the conversion and integration process, we expect some variability in reported earnings due to timing of expenses and realization of cost savings. We anticipate these impacts to normalize as integration activities are completed and synergies are fully realized."
First Quarter Performance Highlights:
- Net interest income decreased
$88,000 0.8% , to$11.4 million $11.5 million $1.2 million 11.6% , from$10.3 million $188,000 $263,000 $150,000 - Annualized net interest margin was
3.10% for the current quarter, compared to3.11% in the preceding quarter and2.79% for the comparable quarter in 2025. - A provision for credit losses of
$693,000 $409,000 - Assets totaled
$1.5 billion - Loans and leases, net of allowance for credit losses, totaled
$1.2 billion - Nonperforming loans and leases totaled
$17.6 million 1.48% of total loans and leases, at March 31, 2026, compared to$17.4 million 1.46% , at December 31, 2025. - The allowance for credit losses totaled
$16.7 million 1.41% of total loans and leases outstanding, at March 31, 2026, compared to$16.5 million 1.38% , at December 31, 2025. - Deposits totaled
$1.1 billion $99.4 million 9.0% of total deposits, compared to$100.1 million 9.0% , at December 31, 2025. - Stockholders' equity totaled
$144.9 million $145.8 million 9.54% at March 31, 2026. - Book value per share and tangible book value per share were
$13.80 $13.88 - The Bank's Tier 1 capital to total assets was
11.10% at March 31, 2026, 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 decreased
Interest income decreased
Interest income on loans and leases decreased
Interest income on investment securities, excluding FHLB stock, decreased
Interest income on cash and cash equivalents decreased
Interest expense decreased
Interest expense on deposits decreased
Interest expense on FHLB borrowings decreased
Annualized net interest margin was
A provision for credit losses of
Noninterest income decreased
Total noninterest expense increased
Income tax expense decreased
Balance Sheet Summary
Total assets decreased
Investment securities decreased
The decrease in loans and leases was attributable to decreases in residential mortgage, direct financing leases, and consumer 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 March 31, 2026, 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 appropriate given the current composition of the loan and lease portfolio, the level of individually evaluated reserves, and the continued low level of net charge-offs.
Total deposits decreased
Borrowings increased
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 | |||||
SELECTED OPERATIONS DATA: | March 31, | December 31, | March 31, | ||
(In thousands, except for per share amounts) | |||||
Interest income | $ 21,162 | $ 21,880 | $ 20,868 | ||
Interest expense | 9,716 | 10,346 | 10,610 | ||
Net interest income | 11,446 | 11,534 | 10,258 | ||
Provision for credit losses | 693 | 409 | 731 | ||
Net interest income after provision for credit losses | 10,753 | 11,125 | 9,527 | ||
Noninterest income | 1,298 | 1,522 | 1,162 | ||
Noninterest expense | 8,704 | 8,537 | 8,373 | ||
Income before income tax expense | 3,347 | 4,110 | 2,316 | ||
Income tax provision | 562 | 701 | 348 | ||
Net income | $ 2,785 | $ 3,409 | $ 1,968 | ||
Shares outstanding | 10,501 | 10,501 | 10,490 | ||
Average shares outstanding: | |||||
Basic | 9,678 | 9,655 | 9,841 | ||
Diluted | 9,860 | 9,834 | 10,084 | ||
Earnings per share: | |||||
Basic | $ 0.29 | $ 0.35 | $ 0.20 | ||
Diluted | $ 0.28 | $ 0.35 | $ 0.20 | ||
SELECTED FINANCIAL CONDITION DATA: | March 31, | December 31, | September 30, | June 30, | March 31, | ||||
(In thousands, except for per share amounts) | |||||||||
Total assets | $ 1,519,216 | $ 1,525,790 | $ 1,525,565 | $ 1,507,759 | $ 1,522,792 | ||||
Cash and cash equivalents | 34,798 | 33,130 | 34,265 | 27,211 | 27,032 | ||||
Interest-bearing time deposits | 2,820 | 2,070 | — | 300 | 300 | ||||
Investment securities | 247,872 | 254,663 | 253,221 | 252,280 | 259,033 | ||||
Loans and leases, net of allowance for credit losses | 1,174,122 | 1,176,813 | 1,178,232 | 1,167,850 | 1,175,833 | ||||
Loans held for sale | 835 | 828 | 1,441 | 136 | 388 | ||||
Premises and equipment, net | 13,497 | 13,397 | 13,427 | 13,189 | 12,779 | ||||
Federal Home Loan Bank stock | 13,907 | 13,907 | 13,907 | 13,907 | 13,907 | ||||
Other assets | 31,365 | 30,982 | 31,072 | 32,886 | 33,520 | ||||
Deposits | 1,106,365 | 1,114,893 | 1,118,258 | 1,096,389 | 1,105,662 | ||||
Borrowings | 256,000 | 252,000 | 254,000 | 267,000 | 274,000 | ||||
Total stockholder's equity | 144,910 | 145,781 | 140,035 | 132,322 | 130,932 | ||||
Book value (GAAP) | $ 144,910 | $ 145,781 | $ 140,035 | $ 132,322 | $ 130,932 | ||||
Tangible book value (non-GAAP) | 144,910 | 145,781 | 140,035 | 132,322 | 130,932 | ||||
Book value per share (GAAP) | 13.80 | 13.88 | 13.43 | 12.74 | 12.48 | ||||
Tangible book value per share (non-GAAP) | 13.80 | 13.88 | 13.43 | 12.74 | 12.48 |
The following table summarizes information relating to the Company's loan and lease portfolio at the dates indicated:
(In thousands) | March 31, | December 31, | September 30, | June 30, | March 31, | ||||
Commercial mortgage | $ 414,875 | $ 414,316 | $ 420,680 | $ 393,632 | $ 387,516 | ||||
Commercial and industrial | 145,214 | 142,508 | 138,333 | 140,700 | 136,524 | ||||
Construction and development | 74,315 | 71,705 | 67,446 | 102,367 | 99,953 | ||||
Multi-family | 208,034 | 208,894 | 216,982 | 191,750 | 211,485 | ||||
Residential mortgage | 166,260 | 171,063 | 166,594 | 168,956 | 172,614 | ||||
Home equity | 21,398 | 20,147 | 18,816 | 19,449 | 18,115 | ||||
Direct financing leases | 142,979 | 145,806 | 146,413 | 147,193 | 146,067 | ||||
Consumer | 18,179 | 19,280 | 19,914 | 20,596 | 20,243 | ||||
Total loans and leases | $ 1,191,254 | $ 1,193,719 | $ 1,195,178 | $ 1,184,643 | $ 1,192,517 |
The following table summarizes information relating to the Company's deposits at the dates indicated:
(In thousands) | March 31, | December 31, | September 30, | June 30, | March 31, | ||||
Noninterest-bearing demand | $ 99,400 | $ 100,091 | $ 110,815 | $ 106,216 | $ 103,353 | ||||
Interest-bearing demand | 152,469 | 143,863 | 145,705 | 147,318 | 142,203 | ||||
Savings and money market | 316,255 | 319,337 | 307,667 | 303,241 | 301,427 | ||||
Non-brokered time deposits | 301,725 | 315,655 | 305,821 | 300,143 | 293,892 | ||||
Brokered time deposits | 236,516 | 235,947 | 248,250 | 239,471 | 264,787 | ||||
Total deposits | $ 1,106,365 | $ 1,114,893 | $ 1,118,258 | $ 1,096,389 | $ 1,105,662 |
Average Balances, Interest and Average Yields/Cost. The following table sets 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 March 31, | |||||||||||
2026 | 2025 | ||||||||||
Average | Interest Paid | Yield/ Rate | Average | Interest Paid | Yield/ Rate | ||||||
(Dollars in thousands) | |||||||||||
Interest-earning assets: | |||||||||||
Loans and leases receivable | $ 19,111 | 6.46 % | $ 18,774 | 6.36 % | |||||||
Securities | 256,758 | 1,582 | 2.46 % | 262,089 | 1,652 | 2.52 % | |||||
FHLB stock | 13,907 | 291 | 8.37 % | 13,907 | 311 | 8.95 % | |||||
Cash and cash equivalents and other | 20,812 | 178 | 3.42 % | 14,121 | 131 | 3.71 % | |||||
Total interest-earning assets | 1,474,611 | 21,162 | 5.74 % | 1,470,764 | 20,868 | 5.68 % | |||||
Non-earning assets | 38,366 | 40,016 | |||||||||
Total assets | 1,512,977 | 1,510,780 | |||||||||
Interest-bearing liabilities: | |||||||||||
Savings and money market accounts | 320,500 | 1,660 | 2.07 % | 304,482 | 1,723 | 2.26 % | |||||
Interest-bearing checking accounts | 146,683 | 397 | 1.08 % | 134,461 | 323 | 0.96 % | |||||
Certificate accounts | 543,612 | 5,241 | 3.86 % | 550,425 | 5,798 | 4.21 % | |||||
Borrowings | 241,089 | 2,418 | 4.01 % | 274,667 | 2,766 | 4.03 % | |||||
Total interest-bearing liabilities | 1,251,884 | 9,716 | 3.10 % | 1,264,035 | 10,610 | 3.36 % | |||||
Noninterest-bearing demand deposits | 98,362 | 99,236 | |||||||||
Other liabilities | 14,310 | 13,733 | |||||||||
Stockholders' equity | 148,421 | 133,776 | |||||||||
Total liabilities and stockholders' equity | 1,512,977 | 1,510,780 | |||||||||
Net interest income | $ 11,446 | $ 10,258 | |||||||||
Net earning assets | $ 222,727 | $ 206,729 | |||||||||
Net interest rate spread(1) | 2.64 % | 2.32 % | |||||||||
Net interest margin(2) | 3.10 % | 2.79 % | |||||||||
Average interest-earning assets to average interest-bearing liabilities | 117.79 % | 116.35 % | |||||||||
________________________________________________ | |
(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: | March 31, | December 31, | September 30, | June 30, | March 31, | ||||
Performance ratios: | |||||||||
Return on average assets(1) | 0.74 % | 0.89 % | 0.95 % | 0.69 % | 0.52 % | ||||
Return on average equity(1) | 7.51 % | 9.55 % | 10.78 % | 7.99 % | 5.89 % | ||||
Yield on interest-earning assets | 5.74 % | 5.89 % | 5.93 % | 5.82 % | 5.68 % | ||||
Rate paid on interest-bearing liabilities | 3.10 % | 3.28 % | 3.35 % | 3.37 % | 3.36 % | ||||
Average interest rate spread | 2.64 % | 2.61 % | 2.58 % | 2.45 % | 2.32 % | ||||
Net interest margin(1)(2) | 3.10 % | 3.11 % | 3.07 % | 2.93 % | 2.79 % | ||||
Operating expense to average total assets(1) | 2.30 % | 2.24 % | 2.14 % | 2.15 % | 2.22 % | ||||
Efficiency ratio(3) | 68.29 % | 65.39 % | 64.18 % | 68.50 % | 73.31 % | ||||
Average interest-earning assets to average | 117.79 % | 117.86 % | 117.25 % | 116.72 % | 116.35 % | ||||
Asset quality ratios: | |||||||||
Non-performing assets to total assets(4) | 1.16 % | 1.14 % | 0.71 % | 0.54 % | 0.46 % | ||||
Non-performing loans and leases to total gross loans and leases(5) | 1.48 % | 1.46 % | 0.90 % | 0.68 % | 0.59 % | ||||
Allowance for credit losses to non-performing loans and leases(5) | 95.02 % | 94.64 % | 151.64 % | 201.14 % | 229.90 % | ||||
Allowance for credit losses to total loans and leases | 1.41 % | 1.38 % | 1.37 % | 1.37 % | 1.35 % | ||||
Net charge-offs to average outstanding loans and leases during the period(1) | 0.12 % | 0.12 % | 0.11 % | 0.21 % | 0.13 % | ||||
Capital ratios: | |||||||||
Equity to total assets at end of period | 9.54 % | 9.55 % | 9.18 % | 8.78 % | 8.60 % | ||||
Average equity to average assets | 9.81 % | 9.36 % | 8.84 % | 8.64 % | 8.85 % | ||||
Common equity tier 1 capital (to risk weighted assets)(6) | 13.37 % | 13.38 % | 13.11 % | 12.99 % | 12.79 % | ||||
Tier 1 leverage (core) capital (to adjusted tangible assets)(6) | 11.10 % | 10.95 % | 10.85 % | 10.75 % | 10.68 % | ||||
Tier 1 risk-based capital (to risk weighted assets)(6) | 13.37 % | 13.38 % | 13.11 % | 12.99 % | 12.79 % | ||||
Total risk-based capital (to risk weighted assets)(6) | 14.62 % | 14.64 % | 14.36 % | 14.24 % | 14.04 % | ||||
Other data: | |||||||||
Number of full-service offices | 13 | 13 | 12 | 12 | 12 | ||||
Full-time equivalent employees | 173 | 180 | 179 | 176 | 171 | ||||
(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 was filed with the SEC and declared effective on April 3, 2026. The joint proxy statement of the Company and Farmers Bancorp and prospectus of the Company included therein has been mailed to 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 URGED TO READ THE REGISTRATION STATEMENT AND JOINT PROXY STATEMENT/PROSPECTUS (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 CONTAIN IMPORTANT INFORMATION REGARDING THE PROPOSED MERGER AND RELATED MATTERS.
Investors and security holders may obtain free copies of the registration statement on Form S-4 and the related joint proxy statement/prospectus, as well as other documents filed with the SEC by the Company, through the website maintained by the SEC at www.sec.gov. These documents can also 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 can be obtained free of charge by 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 and Farmers Bancorp's directors, executive officers, and other participants in the solicitation and their interests in the proposed transaction is included in the joint proxy statement/prospectus regarding the proposed transaction, which was filed with the SEC as a prospectus pursuant to Rule 424(b)(3) on April 15, 2026. Free copies of this document may be obtained as described above.
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SOURCE Richmond Mutual Bancorporation, Inc.