RMBI on Nasdaq

Richmond Mutual Bancorporation, Inc.

Richmond Mutual Bancorporation, Inc. is a state commercial bank, listed on Nasdaq (RMBI).1

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Last updated Oct 20, 2026.

Overview

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  • TickerRMBI on Nasdaq1
  • IndustryState Commercial Banks1
  • HeadquartersRichmond, Indiana1
  • Business address31 N. 9Th Street, Richmond, In 473742
  • Filer categoryNon-accelerated filer, Smaller reporting company2

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Net income456789$11.6M in 2025
-$20.0M-$10.0M0$10.0M$20.0M2019: -$14.1M-$14.1M20192020: $10.0M$10.0M20202021: $11.1M$11.1M2021+11%2022: $13.0M$13.0M2022+16%2023: $9.5M$9.5M2023−27%2024: $9.4M$9.4M2024−1%2025: $11.6M$11.6M2025+23%

Every line of the income statement as filed: the last 2 fiscal years, latest first.9

Period ending2025-12-312024-12-31
Loans and leases$77.4M$71.6M
Investment securities$7.7M$8.1M
Other$818.1K$826.7K
Total interest income$85.9M$80.5M
Deposits$31.2M$31.8M
Borrowings$10.8M$10.1M
Total interest expense$42.1M$41.8M
Net Interest Income$43.8M$38.7M
Provision for credit losses$2.2M$550.3K
Net Interest Income After Provision for Credit Losses$41.7M$38.2M
Service charges on deposit accounts$1.3M$1.2M
Card fee income$1.3M$1.2M
Loan and lease servicing fees, including mortgage servicing right impairment$680.8K$463.3K
Net loss on securities (includes $(156,040) and $(50,698), respectively, related to accumulated other comprehensive loss reclassifications)-$156.0K-$50.7K
Net gains on loan and lease sales$409.4K$554.5K
Other income$1.5M$1.3M
Total non-interest income$5.1M$4.8M
Salaries and employee benefits$18.5M$18.3M
Net occupancy expenses$1.5M$1.4M
Equipment expenses$1.0M$926.5K
Data processing fees$3.8M$3.6M
Deposit insurance expense$1.2M$1.5M
Printing and office supplies$181.8K$170.3K
Legal and professional fees$1.8M$1.8M
Advertising expense$432.8K$377.8K
Bank service charges$150.6K$230.4K
Real estate owned expense$25.3K$22.7K
Other expenses$4.5M$3.7M
Total non-interest expenses$33.1M$32.1M
Income Before Income Tax Expense$13.7M$10.9M
Provision for income taxes (includes $(32,769) and $(10,647), respectively, related to income tax expense from reclassification of items)$2.1M$1.5M
Net Income$11.6M$9.4M
Basic (in USD per share)$1.20$0.93
Diluted (in USD per share)$1.17$0.92
Accumulated other comprehensive loss reclassifications-$156.0K-$50.7K
Provision for income tax expense from reclassification of items-$32.8K-$10.6K

Compare Richmond Mutual Bancorporation, Inc. with another company

Corporate structure

Richmond Mutual Bancorporation, Inc. sits at the top of its group. 3 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Richmond Mutual Bancorporation, Inc.

  • VANGUARD GROUP INC Filed SCHEDULE 13G/A on Richmond Mutual Bancorporation, Inc., latest Mar 27, 2026 (3 filings since Nov 4, 2024)
  • Douglas Todd Eden Filed SCHEDULE 13G on Richmond Mutual Bancorporation, Inc., latest May 27, 2025
  • TI-TRUST, INC Filed SCHEDULE 13G/A on Richmond Mutual Bancorporation, Inc., latest Apr 4, 2025
  • Richmond Mutual Bancorporation, Inc. Richmond, Indiana
    • FB Richmond Holdings, Inc. Subsidiary · Delaware, United States
    • First Bank Richmond Subsidiary · Nevada, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Richmond Mutual Bancorporation, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$30.0M9 Dec 31, 2025$28.6M9 Dec 31, 2024+4.7%
Accumulated depreciation$16.6M9 Dec 31, 2025$15.7M9 Dec 31, 2024+5.6%
Property and equipment, net$13.4M9 Dec 31, 2025$12.9M9 Dec 31, 2024+3.7%
Operating-lease assets (leased space)$629.0K9 Dec 31, 2025$393.0K9 Dec 31, 2024+60.1%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$33.1M9 Dec 31, 2025$21.8M9 Dec 31, 2024+52.3%
Loans, net of allowance$1.2B9 Dec 31, 2025$1.2B9 Dec 31, 2024+1.5%
Deposits held (banks)$1.1B9 Dec 31, 2025$1.1B9 Dec 31, 2024+1.9%

Properties, in its own words

We currently operate out of our corporate headquarters/financial center and 13 full-service offices, 12 of which are owned by us and one of which is leased, as well as one drive through facility used for existing customer transaction purposes, which is also leased. As of December 31, 2025, the net book value of our real properties, including land, was $13.4 million. See also Note 7 in the Notes to Consolidated Financial Statements contained in Item 8 of this report on Form 10-K. In the opinion of management, the facilities are adequate and suitable for our current needs. We may open additional banking offices to better serve current clients and to attract new clients in subsequent years.

Item 2 of the 10-K filed Mar 23, 2026.12

Leadership

Who has led Richmond Mutual Bancorporation, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Garry D. Kleer2019–now

President

  1. Dean W. Weinert2019–2020
  2. Garry D. Kleer2019–2025
  3. William A. Daily Jr.2025
  4. Paul J. Witte2025–now

Chief financial officer

  1. Donald A. Benziger2019–2023

Chief operating officer

  1. Paul J. Witte2025–now
20202025
Board members and other officers (20)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • FB Richmond Holdings, Inc. Delaware3
  • First Bank Richmond Nevada3
  • Richmond Mutual Bancorporation, Inc. Indiana3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Aug 20, 20268-K Other events38
  2. Aug 12, 20268-K Financial statements and exhibits39
  3. Jul 27, 20268-K Results of operations40
  4. Jul 17, 20268-K Executive or director change41
  5. Jul 1, 20268-K Completed an acquisition or sale; Executive or director change; Other events42
  6. May 27, 20268-K Shareholder vote43
  7. May 22, 20268-K Other events44
  8. May 5, 20268-K Other events45
  9. Apr 23, 20268-K Results of operations46
  10. Feb 11, 20268-K Other events47
  11. Jan 22, 20268-K Results of operations48
  12. Jan 15, 20268-K Regulation FD disclosure49
  13. Jun 24, 2019New chief executive Garry D. Kleer becomes CEO13

Calendar

Coming up

  1. Oct 22, 2026Reports results for the quarter ending Sep/202650

When it reported results

  1. Jul 27, 2026Reported quarterly or annual results40
  2. Apr 23, 2026Reported quarterly or annual results46
  3. Jan 22, 2026Reported quarterly or annual results48
  4. Oct 23, 2025Reported quarterly or annual results51
  5. Jul 23, 2025Reported quarterly or annual results52
  6. Apr 24, 2025Reported quarterly or annual results53
  7. Jan 23, 2025Reported quarterly or annual results54
  8. Oct 24, 2024Reported quarterly or annual results55

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

148 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 59 major events, 41 insider forms, 11 large holders, 17 other. The latest 20:

  1. Aug 20, 20268-K EDGAR
  2. Aug 13, 202610-Q EDGAR
  3. Aug 12, 20268-K/A EDGAR
  4. Aug 11, 20264 EDGAR
  5. Jul 27, 20268-K EDGAR
  6. Jul 17, 20268-K/A EDGAR
  7. Jul 8, 20264 EDGAR
  8. Jul 8, 20263 EDGAR
  9. Jul 7, 20264 EDGAR
  10. Jul 7, 20263 EDGAR
  11. Jul 6, 20264 EDGAR
  12. Jul 6, 20263 EDGAR
  13. Jul 6, 20264 EDGAR
  14. Jul 6, 20264 EDGAR
  15. Jul 6, 20264 EDGAR
  16. Jul 6, 20264 EDGAR
  17. Jul 6, 20263 EDGAR
  18. Jul 6, 20263 EDGAR
  19. Jul 6, 20263 EDGAR
  20. Jul 6, 20263 EDGAR

The 148 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

23 open-market trades by officers, directors and large owners since October 2021: 21 buys and 2 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 10, 2026Jackson Jeffrey A.DirectorBuy2,500$15.92$39.8KForm 4
Jun 1, 2026Blum E. MichaelDirectorBuy1,500$14.36$21.5KForm 4
Feb 19, 2026Daily William A. Jr.Market President (West Ohio)Buy213$14.10$3.0KForm 4
Feb 19, 2026Daily William A. Jr.Market President (West Ohio)Buy347$14.40$5.0KForm 4
Jan 28, 2026Daily William A. Jr.Market President (West Ohio)Buy285$14.06$4.0KForm 4
Aug 26, 2024Blum E. MichaelDirectorBuy3,000$12.63$37.9KForm 4
Jun 5, 2024Blum E. MichaelDirectorBuy1,000$11.57$11.6KForm 4
May 2, 2024Wetzel M. LynnDirectorBuy450$11.03$5.0KForm 4
May 1, 2024Wetzel M. LynnDirectorBuy800$10.95$8.8KForm 4
Feb 7, 2024Jackson Jeffrey A.DirectorBuy1,000$10.51$10.5KForm 4
Oct 24, 2023Hanley Harold T. IIIDirectorBuy10,404$9.66$100.5KForm 4
Oct 24, 2023Blum E. MichaelDirectorBuy1,100$10.21$11.2KForm 4
Oct 24, 2023Jackson Jeffrey A.DirectorBuy1,140$9.80$11.2KForm 4
Oct 24, 2023Girten KathrynDirectorBuy1,100$9.86$10.8KForm 4
Oct 24, 2023Wetzel M. LynnDirectorBuy7,850$10.02$78.7KForm 4
May 3, 2023Jackson Jeffrey A.DirectorBuy3,000$9.11$27.3KForm 4
May 2, 2023Girten KathrynDirectorBuy4,900$9.73$47.7KForm 4
Mar 7, 2023BENZIGER DONALD AEVP, Chief Financial OfficerSale4,157$12.82$53.3KForm 4
Nov 3, 2022Jackson Jeffrey A.DirectorBuy400$13.33$5.3KForm 4
Jul 28, 2022Blum E. MichaelDirectorBuy1,000$13.99$14.0KForm 4

All 23 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2024Garry D. KleerChairman, President and CEO of the Company; Chairman and CEO of First Bank Richmond69$490.4K$728.3K59
2024Paul J. WittePresident and Chief Operating Officer of First Bank Richmond$242.3K$303.3K59
2024Dean W. WeinertPresident of Mutual Federal, a division of First Bank Richmond$235.5K$291.8K59
2023Garry D. KleerChairman, President and CEO of the Company; Chairman and CEO of First Bank Richmond69$479.4K$768.5K59
2023Dean W. WeinertPresident of Mutual Federal, a division of First Bank Richmond$231.7K$293.3K59
2023Paul J. WittePresident and Chief Operating Officer of First Bank Richmond$223.0K$283.9K59

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 74. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.550,962$8.7M0.0%+167,144
Vanguard Capital Management LLC361,385$5.7M0.0%−96,181
Geode Capital Management, LLC215,781$3.4M0.0%+23,024
Dimensional Fund Advisors LP152,116$2.4M0.0%+31,601
Arrowstreet Capital, Limited Partnership150,946$2.4M0.0%+59,885
Stifel Financial Corp132,464$2.1M0.0%−600
State Street Corp115,703$1.8M0.0%−1,622
Morgan Stanley85,952$1.4M0.0%+65,815
Renaissance Technologies LLC72,142$1.1M0.0%+33,800
Northern Trust Corp63,987$1.0M0.0%+7,376
PL Capital Advisors, LLC61,719$980.1K0.3%No change
Sanctuary Advisors, LLC59,635$947.0K0.0%New
Vanguard Portfolio Management LLC57,054$906.0K0.0%+9,471
Vanguard Fiduciary Trust Co55,277$877.8K0.0%+4,031
Susquehanna International Group, Llp55,120$875.3K0.0%New
Keeler & Nadler Financial Planning & Wealth Management43,004$682.9K0.2%No change
Aqr Capital Management LLC42,471$674.4K0.0%New
Vista Investment Partners Ii, LLC40,102$636.8K0.2%+5,324
Oppenheimer & Close, LLC40,000$635.2K0.4%No change
Minerva Advisors LLC30,224$480.0K0.3%No change
O'shaughnessy Asset Management, LLC27,860$442.4K0.0%+9,522
SeaCrest Wealth Management, LLC25,853$410.5K0.0%No change
Nuveen, LLC25,773$409.3K0.0%+13,960
Charles Schwab Investment Management Inc25,171$399.7K0.0%+2,646
First Financial Bank - Trust Division24,859$394.8K0.0%No change

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Richmond Mutual Bancorporation, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARRichmond Mutual Bancorporation, Inc.1
  • CIK0001767837
  • Employer ID (EIN)36-492604112
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company12
  • Incorporated inMaryland12
  • Fiscal year endsDecember 311
  • Industry code (SIC)6022 State Commercial Banks1
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance1
  • Business address31 N. 9Th Street, Richmond, IN 473741
  • Phone765-973-42991
  • Shares outstanding16,759,046 as of Aug 13, 202611
  • Public float$137.0M as of Jun 30, 202512
  • AuditorForvis Mazars, LLP, Indianapolis, Indiana PCAOB ID 686; no auditor attestation of internal control over financial reporting12
  • On EDGAR sinceMar 11, 20191
  • Filings266 in all: 8-K (80), 4 (75), 3 (26), 10-Q (23), SC 13G/A (9), 10-K (7), DEF 14A (7), CORRESP (5)1
    All 26 form types

    ARS (4), SC 13G (4), UPLOAD (4), 8-K/A (3), SCHEDULE 13G/A (3), 144 (2), 424B3 (2), EFFECT (2), 425 (1), 5 (1), 8-A12B (1), CERT (1), S-1 (1), S-1/A (1), S-4 (1), S-4/A (1), S-8 (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Mar 23, 2026
    Quarterly report (10-Q) Aug 13, 2026
    Proxy statement (DEF 14A) Apr 16, 2025
    Latest 8-K (8-K) Aug 20, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.01 per shareRMBIThe Nasdaq Stock Market LLC

From the cover page of the 10-K filed Mar 23, 2026 (Section 12(b) of the Exchange Act).12

Risk factors and legal proceedings

The risks Richmond Mutual Bancorporation, Inc. names in Item 1A of its 10-K filed Mar 23, 2026: 29 risks under these headings, as written.12

  • Risks Related to Macroeconomic Conditions
  • A worsening of economic conditions in our market area could reduce demand for our products and services and/or result in increases in our level of non-performing loans, which could adversely affect our operations, financial condition and earnings.
  • Future changes in interest rates could reduce our profits and affect the value of our assets and liabilities.
  • Risks Related to the Proposed Merger with The Farmers Bancorp, Frankfort, Indiana
  • The completion of the merger with The Farmers Bancorp, Frankfort Indiana (“Farmers Bancorp”) is subject to numerous risks and uncertainties that could materially affect our business, financial condition, results of operations, and stock price.
  • Risks Related to Our Business
  • We have a substantial portfolio of commercial and multi-family real estate, as well as commercial and industrial loans, and we intend to continue increasing originations of these loan types. These loans carry credit risks that could adversely affect our financial condition and results of operations.
  • We have focused on growing our construction and development loan portfolio in recent years, which adds additional risks to our loan portfolio.
  • Our portfolio of loans with a higher risk of loss is increasing and the unseasoned nature of such loans could lead to misjudgments in collectability, triggering additional provisions or charge-offs, impacting our profits.
  • If we are unable to maintain and grow revenue from our leasing business our future revenue and earnings may be adversely impacted.
  • Our leasing business exposes us to different credit risks than our real estate secured lending.
  • If our allowance for credit losses is not sufficient to cover actual losses, our earnings could decrease.
The other 20 risks
  • Reliance on lead institutions for credit quality updates in loan participations may expose us to financial, regulatory, and reputational risks.
  • Changes in the valuation of our securities portfolio could hurt our profits and reduce our capital levels.
  • A tightening of credit markets and liquidity risk could impair our ability to fund operations and jeopardize our financial condition.
  • We use estimates in determining the fair value of certain assets, such as mortgage servicing rights (“MSRs”). If our estimates prove to be incorrect, we may be required to write down the value of these assets, which could adversely affect our earnings.
  • If our investment in the Federal Home Loan Bank of Indianapolis becomes impaired, our earnings and stockholders’ equity could decrease.
  • Our size makes it difficult for us to compete.
  • As a community bank, maintaining our reputation in our market area is critical to the success of our business, and the failure to do so may materially adversely affect our performance.
  • We face significant operational risks because the financial services business involves a high volume of transactions and because of our reliance on technology.
  • Our information systems may experience failure, interruption or breach in security.
  • Our operations rely on certain external vendors.
  • Our current and future uses of Artificial Intelligence (AI) and other emerging technologies may create additional risks.
  • We are subject to environmental liability risk associated with lending activities on properties we own.
  • Regulatory and Accounting Related Risks
  • We operate in a highly regulated environment and may be adversely affected by changes in federal and state laws and regulations that could increase our costs of operations.
  • Changes in laws and regulations and the cost of regulatory compliance with new laws and regulations may adversely affect our operations and/or increase our costs of operations.
  • We are subject to an extensive body of accounting rules and best practices. Periodic changes to such rules may change the treatment of critical financial line items and affect our profitability.
  • Climate change and related legislative and regulatory initiatives may materially affect the Company’s business and results of operations.
  • We may elect or be compelled to seek additional capital in the future, but that capital may not be available when it is needed or on terms acceptable to us.
  • Scrutiny and evolving expectations from customers, regulators, investors, and other stakeholders with respect to our environmental, social and governance practices may impose additional costs on us or expose us to new or additional risks.
  • There may be future sales of additional common stock or preferred stock or other dilution of our equity, which may adversely affect the market price of our common stock.
  • You may not receive dividends on our common stock.

Legal proceedings

We are not involved in any pending legal proceedings as a plaintiff or defendant other than routine legal proceedings occurring in the ordinary course of business, and at December 31, 2025, we were not involved in any legal proceedings the outcome of which would be material to our financial condition or results of operations.

The opening of Item 3, Legal Proceedings.12

Sources

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