Richmond Mutual Bancorporation, Inc. filings document material events for the Maryland bank holding company and its First Bank Richmond subsidiary. Recent Form 8-K disclosures include earnings releases under results of operations, cash dividend declarations on common stock, Regulation FD investor presentation materials, and related exhibit filings.
The filing record also covers capital-structure and governance disclosures relevant to a public bank holding company, including common-stock dividend actions, shareholder voting matters, material agreements, financial condition updates, and regulatory capital information for the banking subsidiary.
Richmond Mutual Bancorporation, Inc. completed its merger with The Farmers Bancorp, with Farmers merging into Richmond and The Farmers Bank combining into First Bank Richmond, which was renamed First Bank Midwest. Each Farmers share was converted into 3.40 shares of Richmond common stock, with cash paid instead of fractional shares.
Richmond issued 6,254,357 shares of common stock as Merger Consideration. The combined company keeps the Richmond Mutual Bancorporation, Inc. name and continues trading on Nasdaq under RMBI, while all bank branches now operate as First Bank Midwest. The boards of Richmond and First Bank Midwest expanded from six to eleven directors, adding five former Farmers directors.
Leadership was reorganized: Garry D. Kleer remains Chairman and CEO of Richmond, while former Farmers CEO Christopher D. Cook became President of Richmond and President and CEO of First Bank Midwest. Other former Farmers executives took key operating, risk, and operations roles, supported by change in control agreements that provide severance protections upon certain post-change-in-control terminations.
Richmond Mutual Bancorporation, Inc. director E. Michael Blum exercised derivative securities to acquire additional common shares. On 2026-06-02, he exercised rights to buy 3,500 shares of common stock at an exercise price of $10.53 per share. Following the transaction, his direct ownership increased to 47,685 shares of common stock. The filing shows this as an exercise or conversion of a derivative security, with no open-market buying or selling reported in this transaction.
Richmond Mutual Bancorporation director E. Michael Blum reported an open-market purchase of 1,500 shares of Common Stock at $14.355 per share. After this transaction, he directly holds 44,185 Common shares.
He also holds a fully exercisable right to buy 36,580 additional Common shares at an exercise price of $10.53 per share, which is scheduled to expire on October 1, 2030.
Richmond Mutual Bancorporation, Inc. stockholders approved the merger with The Farmers Bancorp and the issuance of Richmond Mutual shares at the Annual Meeting. The merger and share issuance proposal received 6,608,986 votes for, 106,010 against and 2,251 abstentions, with 1,668,371 broker non-votes.
Stockholders also elected Garry D. Kleer and Kathryn Girten as directors, approved a non-binding advisory vote on executive compensation, ratified Forvis Mazars, LLP as independent auditor for 2026, and approved a potential adjournment of the meeting, which was ultimately unnecessary.
Both Richmond Mutual and Farmers Bancorp have now obtained shareholder and prior bank regulatory approvals. The transaction is expected to close around the end of the second quarter of 2026. Farmers Bancorp shareholders will receive 3.40 shares of Richmond Mutual common stock for each Farmers Bancorp share, in a tax-free exchange, and the combined company will trade as RMBI with the bank operating as “First Bank Midwest.”
Richmond Mutual Bancorporation, Inc. announced that its board has declared a quarterly cash dividend of $0.15 per share on its common stock. The dividend will be paid on June 17, 2026 to stockholders who are on record as of June 3, 2026.
The company is the holding company for First Bank Richmond, a community-focused financial institution operating branches in Indiana and Ohio.
Richmond Mutual Bancorporation, Inc. reported stronger quarterly results while preparing for a major merger. For the three months ended March 31, 2026, net income rose to $2.8 million from $2.0 million a year earlier, with diluted earnings per share increasing to $0.28 from $0.20. Net interest income improved to $11.4 million as deposit and borrowing costs declined.
Total assets were $1.52 billion, loans and leases net of allowance were $1.17 billion, and deposits totaled $1.11 billion at March 31, 2026. Credit quality remained manageable, with nonperforming loans and leases at 1.48% of total and the allowance for credit losses at 1.41% of loans and leases. The company also advanced its pending stock-for-stock merger with The Farmers Bancorp, an approximately $82 million transaction expected to close around the end of the second quarter of 2026, subject to shareholder approvals.
Richmond Mutual Bancorporation, Inc. filed a Form 8-K noting that The Farmers Bancorp has circulated a reminder letter to its shareholders about a special meeting on May 26, 2026 to vote on the pending merger between Farmers and Richmond Mutual.
The filing explains that a Registration Statement on Form S-4, including a joint proxy statement/prospectus for the merger, was declared effective on April 3, 2026, and that Farmers shareholders can obtain these materials free of charge from the SEC’s website or directly from Farmers. The reminder letter encourages shareholders to submit proxies by mail, phone, or internet and reiterates that the communication is not itself an offer to sell or buy securities.
Richmond Mutual Bancorporation, Inc. reported first quarter 2026 net income of $2.8 million, or $0.28 diluted EPS, up from $2.0 million, or $0.20, a year earlier but down from $3.4 million, or $0.35, in the fourth quarter of 2025.
Net interest income was $11.4 million and annualized net interest margin was 3.10%, slightly below the prior quarter but above 2.79% in first quarter 2025. Asset quality remained stable with nonperforming loans and leases at 1.48% of total loans and leases and an allowance equal to 1.41%.
The Company highlighted nonrecurring items, including core processor implementation fees, fraud losses, and taxes on a nonaccrual loan, which weighed on earnings. Management emphasized strong capital, with stockholders’ equity of $144.9 million and an equity-to-assets ratio of 9.54%.
The filing also updates on the proposed all-stock merger with Farmers Bancorp, under which Farmers Bancorp shareholders will receive 3.40 Company shares per Farmers share and are expected to own about 38% of the combined company. All required regulatory approvals have been received, with shareholder votes scheduled for late May 2026.
Richmond Mutual Bancorporation, Inc. and The Farmers Bancorp, Frankfort, Indiana have entered into a merger agreement dated November 11, 2025 under which Farmers Bancorp will merge into Richmond Mutual and Farmers Bank will merge into First Bank Richmond. Farmers Bancorp shareholders will receive 3.40 shares of Richmond Mutual common stock per Farmers Bancorp share, with cash paid for fractional shares. Based on shares outstanding as of March 30, 2026, Richmond Mutual expects to issue approximately 6,269,855 shares, resulting in former Farmers Bancorp shareholders owning about 38% of the combined company and existing Richmond Mutual shareholders owning about 62%. The combined company is expected to have approximately $2.6 billion in total assets and continue trading on Nasdaq under the ticker RMBI. The merger is subject to shareholder approvals, regulatory approvals, satisfaction of closing conditions, and customary termination rights and fees.