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Richmond Mutual Bancorporation, Inc.

Richmond Mutual Bancorporation, Inc.

NASDAQ•RMBI
CEO: Mr. Garry D. Kleer
Sector: Financial Services
Industry: Banks - Regional
Listing Date: 2019-07-02
Richmond Mutual Bancorporation, Inc. operates as the bank holding company for First Bank Richmond that provides various banking services. It accepts various deposits, including savings deposit accounts, money market accounts, NOW and demand accounts, and certificates of deposit. The company also offers a range of lending products, such as multi-family and commercial real estate loans, commercial and industrial loans, construction and development loans, residential real estate loans, and consumer loans. In addition, it engages in the lease financing business; and provision of fee-based financial services comprising trust and estate administration, investment management, retirement plan administration, and private banking services. The company was founded in 1887 and is headquartered in Richmond, Indiana.
Contact Information
31 North 9th Street, Richmond, IN, 47374, United States
765-962-2581
www.firstbankrichmond.com
Market Cap
$136.40M
P/E (TTM)
12.8
15.1
Dividend Yield
4.3%
52W High
$15.24
52W Low
$11.37
52W Range
70%
Rank41Top 44.9%
4.0
F-Score
Modified Piotroski Analysis
Based on 8-year fundamentals
Average • 4 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2018-2025

Financial Dashboard

Q3 2025 Data

Revenue

$23.07M+6.89%
4-Quarter Trend

EPS

$0.37+48.00%
4-Quarter Trend

FCF

$5.82M+110.19%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Net Interest Income Rises Q3 Net Interest Income grew 19.7% to $11.3M; annualized NIM expanded to 3.07% due to higher asset yields.
Credit Loss Provision Spikes Provision for credit losses rose sharply to $1.744M for nine months; NPAs increased to 0.90% of total loans.
Capital Ratios Remain Strong Total risk-based capital ratio stood at 14.4%, well exceeding the 8.0% minimum requirement for prompt corrective action.
Net Income and Deposits Grow Nine-month net income reached $8.2M, an 18.3% increase; total deposits grew 2.2% to $1.118B.

Risk Factors

Deteriorating Asset Quality Nonaccrual loans rose to $6.4M, primarily due to one commercial real estate loan; accruing past due 90+ days increased.
Funding Cost Management Interest expense on FHLB borrowings rose 9.0% for nine months, requiring active management of funding mix to optimize costs.
Economic Uncertainty Heightened Allowance uncertainty remains heightened due to concerns over potential recession, inflation, stock volatility, and geopolitical tensions.
Deposit Mix Shift Noted Shift noted from transaction accounts to time deposits for higher yields; uninsured deposits total $262.3M (23.5% of total).

Outlook

Credit Loss Estimates Volatile Future estimates for credit losses may fluctuate due to ongoing evaluation of macroeconomic assumptions for the remainder of 2025.
Focus on Strategic Markets Growth remains concentrated in Columbus, Cincinnati/Dayton, and Indianapolis MSAs, focusing on relationship-based commercial real estate lending.
Operational Cost Savings Renegotiated core service provider agreement expected to produce meaningful cost savings over the contract term moving forward.
Capital Policy Maintained Expect continued regular quarterly dividends, subject to Board discretion; capital position exceeds all regulatory requirements currently.

Peer Comparison

Revenue (TTM)

Hanover Bancorp, Inc.HNVR
$145.20M
-0.2%
CF Bankshares Inc.CFBK
$124.69M
+2.4%
Eagle Bancorp Montana, Inc.EBMT
$124.37M
+4.1%

Gross Margin (Latest Quarter)

United Security BancsharesUBFO
83.8%
+14.7pp
Eagle Bancorp Montana, Inc.EBMT
71.4%
+7.2pp
Richmond Mutual Bancorporation, Inc.RMBI
53.3%
+3.3pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
BVFL$183.28M15.75.4%3.8%
UBFO$182.28M15.78.5%1.0%
CFBK$180.04M10.99.4%0.0%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
1.9%
Moderate Growth
4Q Net Income CAGR
13.3%
Profitability Improving
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Jan 22, 2026
|
EPS:-
|
Revenue:-
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 10, 2025|
    Revenue: $23.07M+6.9%
    |
    EPS: $0.37+48.0%
    N/A

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 8, 2025|
    Revenue: $22.39M+5.7%
    |
    EPS: $0.27+35.0%
    N/A

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 9, 2025|
    Revenue: $22.03M+6.7%
    |
    EPS: $0.20-13.0%
    N/A

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 27, 2025|
    Revenue: $85.05M+18.4%
    |
    EPS: $0.93+2.2%
    N/A

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 13, 2024|
    Revenue: $21.59M+16.6%
    |
    EPS: $0.25+31.6%
    Miss

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 9, 2024|
    Revenue: $21.19M+22.1%
    |
    EPS: $0.20-23.1%
    Miss

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 14, 2024|
    Revenue: $20.64M+27.1%
    |
    EPS: $0.23-14.8%
    N/A

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Mar 29, 2024|
    Revenue: $71.82M+26.9%
    |
    EPS: $0.91-24.2%
    N/A