Richmond Mutual Bancorporation, Inc.

Listed Company

RMBICIK 0001767837NasdaqNon-AcceleratedSmaller ReportingState Commercial BanksFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$11.58M

Total Assets

$1.53B

Equity

$145.78M

Shares Out

10.50M

Op. Cash Flow

$15.97M

Business

Richmond Mutual Bancorporation, Inc. is a bank holding company that provides community banking services primarily through its wholly owned subsidiary, First Bank Richmond. The company offers deposit-taking, brokered deposits and borrowings, commercial, multi-family, residential and construction lending, equipment lease financing, consumer loans, investment securities management, and trust and wealth management services, and maintains a captive insurance subsidiary. Its business is organized as a single significant segment—community banking—with subsidiaries that hold investments and loan portfolios. Richmond Mutual distributes services through 12 full-service and one limited-service branches in Indiana and Ohio, a Columbus loan production office, digital channels and broker networks.

Summary from filing dated 2025-03-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loans and leases	77	72	59	45	41
Investment securities	8	8	8	7	5
Other	818,092	826,661	562,323	152,958	51,975
Total interest income	86	81	67	52	46
Deposits	31	32	23	7	5
Borrowings	11	10	7	3	3
Total interest expense	42	42	30	—	—
Net Interest Income	44	39	38	42	38
Provision for credit losses	2	550,265	531,974	600,000	1
Net Interest Income After Provision for Credit Losses	42	38	37	41	37
Service charges on deposit accounts	1	1	1	1	881,586
Card fee income	1	1	1	1	1
Loan and lease servicing fees, including mortgage servicing right impairment	680,807	463,337	448,027	861,758	−84,333
Net loss on securities (includes $(156,040) and $(50,698), respectively, related to accumulated other comprehensive loss reclassifications)	−156,040	−50,698	0	0	55,799
Net gains on loan and lease sales	409,369	554,546	517,883	639,274	2
Other income	2	1	1	1	1
Total non-interest income	5	5	5	5	5
Salaries and employee benefits	19	18	17	18	18
Net occupancy expenses	1	1	1	1	1
Equipment expenses	1	926,548	1	1	1
Data processing fees	4	4	3	3	2
Deposit insurance expense	1	2	1	494,000	301,000
Printing and office supplies	181,829	170,282	163,339	194,462	165,317
Legal and professional fees	2	2	2	1	1
Advertising expense	432,761	377,787	385,471	459,478	395,949
Bank service charges	150,566	230,410	204,161	137,601	129,015
Real estate owned expense	25,271	22,653	58,759	30,067	25,526
Other expenses	4	4	4	4	4
Total non-interest expenses	33	32	31	30	29
Income Before Income Tax Expense	14	11	11	16	14
Provision for income taxes (includes $(32,769) and $(10,647), respectively, related to income tax expense from reclassification of items)	2	1	2	3	2
Net Income	12	9	9	13	11
Basic (in USD per share)	1.2	0.93	0.91	1.2	0.98
Diluted (in USD per share)	1.17	0.92	0.91	1.17	0.96

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	9	9	9	8	8
Interest-bearing demand deposits	24	13	12	8	15
Cash and cash equivalents	33	22	20	16	23
Interest-bearing time deposits	2	300,000	0	490,000	0
Investment securities - available for sale	252	258	283	285	358
Investment securities - held to maturity	3	3	5	7	9
Loans held for sale	828,000	1	793,500	473,700	557,500
Loans and leases, net of allowance for credit losses of $16,465,708 and $15,790,885, respectively	1,177	1,159	1,090	962	833
Premises and equipment, net	13	13	13	14	14
Federal Home Loan Bank stock	14	14	13	10	10
Interest receivable	6	6	6	5	4
Mortgage-servicing rights	2	2	2	2	2
Cash surrender value of life insurance	4	4	4	4	4
Other assets	19	22	25	24	11
Total assets	1,526	1,505	1,461	1,328	1,268
Noninterest-bearing deposits	100	110	114	106	114
Interest-bearing deposits	1,015	984	927	899	786
Total deposits	1,115	1,094	1,041	1,005	900
Federal Home Loan Bank advances	240	265	271	180	180
Other borrowings	12	0	—	—	—
Advances by borrowers for taxes and insurance	650,674	590,439	588,371	560,196	531,030
Interest payable	3	5	4	1	258,032
Other liabilities	9	8	9	8	6
Total liabilities	1,380	1,372	1,326	1,196	1,087
Commitments and Contingent Liabilities	0	0	0	0	0
Common stock	105,013	108,150	112,085	117,842	124,002
Additional paid-in capital	93	98	101	106	114
Retained earnings	97	92	88	88	80
Unearned employee stock ownership plan (ESOP)	−10	−11	−11	−12	−13
Accumulated other comprehensive loss	−35	−46	−43	−50	−1
Total stockholders' equity	146	133	135	132	180
Total liabilities and stockholders' equity	1,526	1,505	1,461	1,328	1,268

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	891,834	850,244	975,813	1	1
Deferred income tax	−114,442	158,285	641,148	1	2
Stock based compensation	815,821	1	2	2	2
Investment securities amortization, net	754,838	943,315	1	2	3
(Gain) loss on sale of real estate owned	−6,067	7,050	4,042	10,882	1,278
Gain on sale of premises and equipment	−4,500	−6,000	−1,800	0	0
Accretion of loan origination fees	−884,026	−767,469	−945,579	−2	−3
Amortization of mortgage-servicing rights	208,603	192,807	213,891	224,274	412,941
ESOP shares expense	738,000	661,000	612,000	799,000	796,000
Increase in cash surrender value of life insurance	−97,140	−91,565	−90,430	−55,359	−93,404
Loans originated for sale	−21	−26	−20	−29	−80
Proceeds on loans sold	20	27	20	29	79
Interest receivable	−269,925	−186,295	−1	−517,654	510,777
Other assets	732,172	3	−2	−2	−3
Other liabilities	1	−1	−2	2	−4
Interest payable	−1	434,722	3	1	35,914
Net cash provided by operating activities	16	15	12	18	−10
Net change in interest-bearing time deposits	−2	−300,000	490,000	−490,000	0
Purchases of securities available for sale	−6	−8	−11	−23	−189
Proceeds from maturities and paydowns of securities available for sale	19	21	21	32	62
Proceeds from sales of securities available for sale	7	7	0	0	5
Proceeds from maturities and paydowns of securities held to maturity	749,419	1	2	2	3
Net change in loans	−18	−69	−132	−127	−92
Proceeds from sales of real estate owned	43,502	125,109	963,871	84,652	30,270
Purchases of premises and equipment	−1	−460,380	−619,209	−385,099	−579,452
Proceeds from sale of premises and equipment	0	6,000	1,800	0	0
Purchases of FHLB stock	0	−1	−3	−166,400	—
Net cash used in investing activities	−1	−49	−123	−116	−212
Demand and savings deposits	17	24	−22	12	125
Certificates of deposit	4	29	57	93	82
Advances by borrowers for taxes and insurance	60,235	2,068	28,175	29,166	38,506
Proceeds from other borrowings	12	0	—	—	—
Proceeds from FHLB advances	284	289	542	328	209
Repayment of FHLB advances	−309	−295	−451	−328	−199
Repurchase of common stock	−6	−5	−6	−10	−12
Proceeds from stock option exercises	−4	−12	0	—	—
Dividends paid	−6	−6	−6	−4	−9
Net cash provided by financing activities	−3	36	115	91	196
Net Change in Cash and Cash Equivalents	11	2	4	−7	−26
Interest paid	43	41	27	9	8
Income tax paid	1	−406,837	—	—	—
Transfers from loans to other real estate owned	56,136	37,435	1	115,965	27,000
Right of use assets obtained in exchange for new operating lease liabilities	298,061	0	0	504,682	0

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro