RICHMOND, Ind., Aug. 20, 2025 /PRNewswire/ -- Richmond Mutual Bancorporation, Inc. (NASDAQ: RMBI) announced today that its Board of Directors has declared a cash dividend on Richmond Mutual Bancorporation common stock of $0.15 per share. The cash dividend will be payable on September 18, 2025, to stockholders of record as of the close of business on September 4, 2025.About Richmond Mutual Bancorporation, Inc.Richmond Mutual Bancorporation, Inc., headquartered in Richmond, Indiana, is the holding company for ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 or o TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to ________ Commission file number: 001-38956 RICHMOND MUTUAL BANCORPORATION, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of inco ...

EXHIBIT 99.1 RICHMOND MUTUAL BANCORPORATION, INC. ANNOUNCES 2025 SECOND QUARTER FINANCIAL RESULTS RICHMOND, INDIANA (July 23, 2025) – Richmond Mutual Bancorporation, Inc., a Maryland corporation (the "Company") (NASDAQ: RMBI), parent company of First Bank Richmond (the "Bank"), today announced net income of $2.6 million, or $0.26 diluted earnings per share, for the second quarter of 2025, compared to net income of $2.0 million, or $0.20 diluted earnings per share, for the first quarter of 2025, and net inco ...

Core Viewpoint - Richmond Mutual Bancorporation, Inc. reported a net income of $2.6 million for Q2 2025, reflecting a 30% increase in diluted earnings per share compared to both Q1 2025 and Q2 2024, driven by higher net interest income and lower noninterest expenses [1][2][3]. Financial Performance Highlights - Net interest income before provision for credit losses increased by $501,000, or 4.9%, to $10.8 million in Q2 2025 compared to Q1 2025, and increased by $1.2 million, or 12.4%, from Q2 2024 [5]. - The annualized net interest margin improved to 2.93% in Q2 2025, up from 2.79% in Q1 2025 and 2.64% in Q2 2024, attributed to a favorable asset repricing environment following Federal Reserve rate cuts [13][19]. - Interest income rose by $478,000, or 2.3%, to $21.3 million in Q2 2025 compared to Q1 2025, and increased by $1.3 million, or 6.3%, from Q2 2024 [6][34]. Balance Sheet Summary - Total assets remained stable at $1.5 billion as of June 30, 2025, with loans and leases net of allowance for credit losses totaling $1.2 billion [8][19]. - Nonperforming loans and leases increased to $8.1 million, or 0.68% of total loans and leases, compared to $6.8 million, or 0.58%, at the end of 2024 [21][22]. - Total deposits increased by $2.4 million, or 0.2%, to $1.1 billion at June 30, 2025, driven by increases in interest-bearing demand deposits and retail time deposits [25]. Management Insights - The CEO emphasized the strength of the bank's core banking model, focusing on customer care and disciplined decision-making amid economic uncertainties [3]. - The company is committed to maintaining solid credit quality while managing expenses effectively [3]. Stockholder Information - Stockholders' equity totaled $132.3 million at June 30, 2025, a slight decrease from December 31, 2024, primarily due to dividend payments and stock repurchases [27][28]. - The company repurchased 101,127 shares of common stock at an average price of $13.46 per share during Q2 2025 [28].

Financial Performance - For the three months ended March 31, 2025, net income was $2.0 million, a decrease from $2.4 million for the same period in 2024, reflecting a decline of 16.67%[135] - Net income for the three months ended March 31, 2025, was $2.0 million, a decrease of $401,000 or 16.9% from $2.4 million for the same period in 2024[150] - Noninterest income rose by $33,000, or 3.0%, to $1.2 million in Q1 2025, driven by a 12.9% increase in other income to $360,000[164] - Noninterest expense increased by $315,000, or 3.9%, to $8.4 million in Q1 2025, with salaries and employee benefits up by 3.0% to $4.7 million[165] - The effective tax rate for Q1 2025 was 15.0%, up from 12.9% in Q1 2024, primarily due to the expiration of certain charitable contribution carryforwards[166] Assets and Liabilities - As of March 31, 2025, the Company reported total assets of $1.5 billion, with loans and leases net of allowance at $1.2 billion and deposits at $1.1 billion[135] - Total assets increased by $17.9 million, or 1.2%, from December 31, 2024, primarily due to the increase in loans and leases[138] - Total deposits increased by $11.7 million, or 1.1%, to $1.1 billion as of March 31, 2025, primarily due to an increase in brokered time deposits of $7.2 million[146] - Approximately $243.0 million of the deposit portfolio, or 22.0% of total deposits, was uninsured as of March 31, 2025[147] - The company had a total remaining borrowing capacity with the FHLB of approximately $101.1 million as of March 31, 2025[174] Loans and Credit Quality - Loans and leases increased by $17.0 million, or 1.5%, from December 31, 2024, driven by growth in multi-family, commercial real estate, and commercial and industrial loans[140] - The allowance for credit losses on loans and leases rose by $287,000, or 1.8%, to $16.1 million, representing 1.35% of total loans and leases outstanding[143] - Nonperforming loans and leases totaled $7.0 million, or 0.59% of total loans and leases, as of March 31, 2025, compared to $6.8 million, or 0.58%, at December 31, 2024[142] - Net charge-offs during the first three months of 2025 totaled $395,000, primarily from direct financing leases, compared to $324,000 in the same period of 2024[143] - Provision for credit losses increased to $731,000 in Q1 2025 from $183,000 in Q1 2024, with net charge-offs rising to $395,000 from $324,000[161] Capital and Equity - The Company’s total risk-based capital ratio was 14.04%, exceeding the 10.0% requirement for a well-capitalized institution[135] - Total risk-based capital ratio was 14.0% as of March 31, 2025, exceeding the minimum requirement of 8.0%[178] - Stockholders' equity totaled $130.9 million at March 31, 2025, a decrease of $1.9 million, or 1.5%, from December 31, 2024[149] - Shareholders' equity totaled $130.9 million as of March 31, 2025, down from $132.9 million at the end of 2024[167] Income and Expenses - Interest income increased by $1.4 million, or 7.0%, to $20.9 million for the quarter ended March 31, 2025, compared to $19.5 million for the same quarter in 2024[151] - Net interest income before the provision for credit losses increased by $425,000, or 4.3%, to $10.3 million for the first quarter of 2025[156] - Interest expense increased by $933,000, or 9.6%, to $10.6 million for the quarter ended March 31, 2025[154] - The net interest margin (annualized) was 2.79% for the three months ended March 31, 2025, compared to 2.74% for the same period in 2024[157] Dividends and Liquid Assets - The company paid a quarterly dividend of $0.15 per share in Q1 2025, compared to $0.14 per share in Q1 2024, with an expected total dividend of approximately $1.6 million per quarter[168] - As of March 31, 2025, the company had $283.4 million in liquid assets and $418.6 million in certificates of deposit maturing within one year[173] - Richmond Mutual Bancorporation had $2.2 million in cash and liquid investments available for its cash needs as of March 31, 2025[176]

Financial Performance - Net income for Q1 2025 was $2.0 million, or $0.20 diluted earnings per share, down from $2.5 million, or $0.24 per share in Q4 2024[1] - Net income for the first quarter of 2025 was $1.968 million, a decrease from $2.476 million in the fourth quarter of 2024[32] - Basic earnings per share for the first quarter of 2025 was $0.20, down from $0.25 in the fourth quarter of 2024[32] - Return on average assets decreased to 0.52% in Q1 2025 from 0.66% in Q4 2024[38] - Return on average equity declined to 5.89% in Q1 2025 compared to 7.23% in Q4 2024[38] Asset and Liability Management - Total assets remained stable at $1.5 billion as of March 31, 2025, consistent with December 31, 2024[3] - Total assets increased to $1,522,792 thousand as of March 31, 2025, up from $1,504,875 thousand on December 31, 2024, representing a growth of 1.9%[33] - Total loans and leases amounted to $1,192,517 thousand as of March 31, 2025, an increase from $1,175,296 thousand on December 31, 2024, representing a growth of 1.5%[33] - Deposits totaled $1.1 billion as of March 31, 2025, unchanged from December 31, 2024[3] - Total deposits reached $1,105,662 thousand as of March 31, 2025, compared to $1,093,940 thousand on December 31, 2024, reflecting an increase of 1.0%[34] Income and Expense Analysis - Net interest income rose by $392,000, or 4.0%, to $10.3 million in Q1 2025 compared to $9.9 million in Q4 2024[4] - Noninterest income decreased by $30,000, or 2.5%, to $1.2 million in Q1 2025 compared to Q4 2024[14] - Total noninterest expense increased by $446,000, or 5.6%, to $8.4 million for the three months ended March 31, 2025, compared to the fourth quarter of 2024[15] - Interest expense decreased by $194,000, or 1.8%, to $10.6 million in Q1 2025 compared to Q4 2024[9] Credit Quality - Provision for credit losses increased to $731,000 in Q1 2025, compared to $196,000 in Q4 2024 and $183,000 in Q1 2024, primarily due to growth in commercial loan portfolios[3] - Nonperforming loans increased to $7.0 million, or 0.59% of total loans, from $6.8 million, or 0.58% at the end of Q4 2024[3] - The allowance for credit losses on loans and leases increased by $287,000, or 1.8%, to $16.1 million at March 31, 2025[20] - Non-performing assets to total assets slightly increased to 0.46% in Q1 2025 from 0.45% in Q4 2024[38] - Allowance for credit losses to non-performing loans and leases was 229.90% in Q1 2025, down from 232.99% in Q4 2024[38] Capital and Equity - Stockholders' equity decreased to $130.9 million at March 31, 2025, from $132.9 million at December 31, 2024[3] - The company reported a total stockholder's equity of $130,932 thousand as of March 31, 2025, slightly down from $132,872 thousand on December 31, 2024, a decrease of 1.5%[33] - Total risk-based capital ratio decreased to 14.04% in Q1 2025 from 14.23% in Q4 2024[38] Operational Efficiency - Efficiency ratio increased to 73.31% in Q1 2025 from 71.68% in Q4 2024[38] - Number of full-time equivalent employees decreased to 171 in Q1 2025 from 173 in Q4 2024[39] - The company maintained 12 full-service offices throughout the reporting period[38] Interest Metrics - Annualized net interest margin improved to 2.79% in Q1 2025, up from 2.70% in Q4 2024[12] - The net interest margin improved to 2.79% for the three months ended March 31, 2025, compared to 2.74% for the same period in 2024[37] - Average interest rate spread increased to 2.32% in Q1 2025 from 2.19% in Q4 2024[38] - The average yield on loans and leases receivable was 6.36% for the three months ended March 31, 2025, compared to 6.13% for the same period in 2024[36]

Financial Performance - For the year ended December 31, 2024, the company reported a net income of $9.4 million, slightly down from $9.5 million in 2023[26]. - The total loans and leases outstanding increased to $1,175,296,000 in 2024, up from $1,106,512,000 in 2023, reflecting a growth of approximately 6.2%[109]. - Loan and lease originations decreased by $135.8 million, or 36.4%, to $237.1 million during 2024 compared to $372.9 million during 2023, primarily due to higher market interest rates[90]. - The total non-performing loans to total loans ratio improved to 0.58% in 2024 from 0.72% in 2023[101]. - The allowance for credit losses on loans and leases was $15,791,000, or 1.34% of total loans and leases outstanding, compared to $15,663,000, or 1.42% in 2023[109]. Asset and Loan Composition - As of December 31, 2024, Richmond Mutual Bancorporation-Maryland had total assets of $1.5 billion, net loans and leases of $1.2 billion, and deposits of $1.1 billion[26]. - The total loans and leases amounted to $1,175.3 million as of December 31, 2024[42]. - At December 31, 2024, 16.1% of the total loan and lease portfolio, amounting to $189.5 million, was secured by residential real estate[42]. - As of December 31, 2024, $557.6 million, or 47.4%, of the total loan and lease portfolio was secured by commercial and multi-family real estate[52]. - The construction and development loan portfolio amounted to $132.6 million, or 11.3% of the total loan and lease portfolio[67]. Deposits and Funding - Total deposits increased by $52.8 million, or 5.1%, from $1,041.1 million in 2023 to $1,093.9 million in 2024[129]. - Brokered deposits totaled $257.6 million, representing 23.5% of total deposits, with an average interest rate of 4.25%[123]. - Core deposits reached $767.1 million, accounting for 70.1% of total deposits, an increase from $715.3 million or 68.7% in 2023[124]. - The average rate paid on total deposits increased to 2.9% in 2024 from 2.4% in 2023[134]. - As of December 31, 2024, approximately $248.1 million of the deposit portfolio, or 22.7% of total deposits, was uninsured[136]. Capital and Regulatory Compliance - The total risk-based capital ratio for First Bank Richmond was 14.2%, exceeding the 10.0% requirement for a well-capitalized institution[26]. - As of December 31, 2024, First Bank Richmond's capital exceeded all applicable requirements, meeting the criteria to be considered "well capitalized" with a total risk-based capital ratio of 10% or more[160][164]. - The Bank adopted the Current Expected Credit Loss (CECL) accounting standard on January 1, 2023, which requires earlier recognition of credit losses, impacting retained earnings and regulatory capital[162][163]. - The federal banking regulators have provided an option to phase in the day-one adverse effects of CECL on regulatory capital over three years, but management chose to record the full effects in 2023[162]. - First Bank Richmond's share of bank deposits in Wayne County, Indiana, was approximately 29.6% as of June 30, 2024[147]. Loan Performance and Risk Management - Nonperforming loans and leases totaled $6.8 million, or 0.58% of total loans and leases at December 31, 2024, down from $8.0 million, or 0.72% at December 31, 2023[97]. - The largest nonperforming loan was a $4.9 million nonaccrual commercial construction and development loan subject to litigation as of December 31, 2024[97]. - The allowance for credit losses on loans and leases to nonaccrual loans and leases ratio increased to 311.89% in 2024 from 247.68% in 2023, indicating improved coverage[109]. - The company requires a debt service coverage ratio of at least 1.10x for multi-family and commercial real estate loans[56]. - First Bank Richmond's loan policy includes strict underwriting standards and procedures to assess borrowers' ability to repay loans[39]. Employee and Corporate Governance - As of December 31, 2024, the Bank had 173 full-time equivalent employees, with an average tenure of 10.3 years[205]. - Approximately 74% of the workforce was female, indicating a strong commitment to diversity[206]. - The Chief Financial Officer, Bradley M. Glover, was appointed in March 2024 after serving as Acting CFO since May 2023[212]. - Richmond Mutual Bancorporation is subject to a federal income tax similar to other corporations, with no audits conducted in the past five years[197]. - The company emphasizes talent development from within while also supplementing with external hires to foster a continuous improvement mindset[209].

Core Viewpoint - Richmond Mutual Bancorporation, Inc. has declared a cash dividend of $0.15 per share, representing a 7% increase from the previous quarter [1] Company Overview - Richmond Mutual Bancorporation, Inc. is headquartered in Richmond, Indiana, and serves as the holding company for First Bank Richmond, which provides traditional financial and trust services through eight locations in Indiana and five locations in Ohio, along with a loan production office in Columbus, Ohio [2]

Net Income and Earnings - Net income for Q4 2024 was $2.5 million, or $0.24 diluted earnings per share, consistent with Q3 2024 but up from $1.9 million, or $0.19 diluted earnings per share, in Q4 2023[1] - Net income for Q4 2024 was $2.5 million, compared to $1.9 million in Q4 2023[29] - Return on average assets remained stable at 0.66% in Q4 2024, consistent with Q3 2024, and up from 0.54% in Q4 2023[37] Total Assets and Loans - Total assets remained stable at $1.5 billion as of December 31, 2024, September 30, 2024, and December 31, 2023[3] - Loans and leases, net of allowance for credit losses, increased to $1.2 billion at December 31, 2024, up from $1.1 billion in both Q3 2024 and Q4 2023[3] - Total assets increased by $44.3 million (3.0%) to $1.5 billion at December 31, 2024, driven by a $68.8 million (6.3%) increase in loans and leases, net of allowance for credit losses[15] - Loans and leases increased by $47.1 million in multi-family loans, $30.1 million in commercial real estate loans, $10.9 million in commercial and industrial loans, and $10.5 million in residential mortgage loans[16] - Total assets increased to $1,505,309 thousand as of September 2024, up from $1,461,024 thousand in December 2023[30] - Loans and leases receivable grew to $1,175,296 thousand in September 2024, compared to $1,106,512 thousand in December 2023[30] - Commercial mortgage loans increased to $371,705 thousand in September 2024, up from $341,633 thousand in December 2023[30] Net Interest Income and Margin - Net interest income increased by $433,000, or 4.6%, to $9.9 million in Q4 2024 compared to Q3 2024, and by $535,000, or 5.7%, compared to Q4 2023[4] - Annualized net interest margin rose to 2.70% in Q4 2024, up from 2.60% in Q3 2024 and 2.67% in Q4 2023[10] - Interest income on loans and leases increased by $393,000, or 2.2%, to $18.5 million in Q4 2024 compared to Q3 2024, driven by a $2.0 million increase in average loan balance and a 12 basis point rise in average yield[6] - Net interest income for Q4 2024 was $9.9 million, up from $9.3 million in Q4 2023[29] - Net interest income for the three months ended December 31, 2024, was $9,866 thousand, compared to $9,331 thousand in the same period of 2023[33] - The average yield on loans and leases receivable increased to 6.39% in December 2024, up from 5.93% in December 2023[33] - The net interest margin improved to 2.70% in December 2024, compared to 2.67% in December 2023[33] - The average balance of interest-earning assets rose to $1,461,876 thousand in December 2024, compared to $1,398,134 thousand in December 2023[33] - Total interest-earning assets increased to $1,451,544 thousand in 2024 from $1,354,549 thousand in 2023, with a yield of 5.55% compared to 4.98% in 2023[35] - Net interest income rose to $38,707 thousand in 2024 from $37,662 thousand in 2023, with a net interest margin of 2.67% compared to 2.78% in 2023[35] Nonperforming Loans and Credit Losses - Nonperforming loans and leases decreased to $6.8 million, or 0.58% of total loans and leases, at December 31, 2024, down from $8.0 million, or 0.72%, in Q4 2023[3] - Nonperforming loans and leases totaled $6.8 million (0.58% of total loans and leases) at December 31, 2024, down from $8.0 million (0.72%) at December 31, 2023[17] - A provision for credit losses of $196,000 was recognized in Q4 2024, compared to a reversal of $99,000 in Q3 2024 and a provision of $304,000 in Q4 2023[11] - The allowance for credit losses on loans and leases increased by $128,000 (0.8%) to $15.8 million at December 31, 2024, representing 1.34% of total loans and leases, down from 1.42% at December 31, 2023[18] - Net charge-offs to average outstanding loans and leases during the period increased to 0.10% in Q4 2024 from 0.09% in Q4 2023[37] Noninterest Income and Expense - Noninterest income decreased by $133,000, or 10.1%, to $1.2 million in Q4 2024 compared to Q3 2024, primarily due to a $77,000 decrease in net gains on loan and lease sales[12] - Total noninterest expense decreased by $89,000, or 1.1%, to $7.9 million in Q4 2024 compared to Q3 2024, driven by reductions in salaries and employee benefits, deposit insurance, and legal fees[13] - Noninterest-bearing demand deposits decreased to $110,106 thousand in September 2024, down from $114,377 thousand in December 2023[31] Deposits and Equity - Total deposits increased by $52.8 million (5.1%) to $1.1 billion at December 31, 2024, driven by a $44.5 million increase in savings and money-market accounts and a $40.3 million increase in non-brokered time deposits[21] - Approximately $248.1 million (22.7%) of the deposit portfolio was uninsured as of December 31, 2024[22] - Stockholders' equity decreased by $2.0 million (1.5%) to $132.9 million at December 31, 2024, due to $5.7 million in dividends and $5.0 million in stock repurchases, partially offset by $9.4 million in net income[23] - Total deposits reached $1,093,940 thousand in September 2024, up from $1,041,140 thousand in December 2023[31] Capital and Efficiency Ratios - Equity to total assets at end of period was 8.83% in Q4 2024, down from 9.22% in Q4 2023[37] - Common equity tier 1 capital ratio increased to 12.98% in Q4 2024 from 12.85% in Q4 2023[37] - Total risk-based capital ratio rose to 14.23% in Q4 2024 from 14.10% in Q4 2023[37] - Efficiency ratio improved to 71.68% in Q4 2024 from 76.39% in Q4 2023[37] - Full-time equivalent employees decreased to 173 in Q4 2024 from 176 in Q4 2023[37] Stock Repurchases - The company repurchased 133,858 shares of common stock at an average price of $13.95 per share during Q4 2024, with 472,944 shares remaining available for repurchase as of December 31, 2024[24] Tax Expense - Income tax expense increased by $90,000 in Q4 2024 compared to Q3 2024, and by $225,000 compared to Q4 2023, with an effective tax rate of 15.7% in Q4 2024, up from 13.0% in Q3 2024 and 10.8% in Q4 2023[14] Non-performing Assets - Non-performing assets to total assets improved to 0.45% in Q4 2024 from 0.56% in Q4 2023[37]

Core Viewpoint - Richmond Mutual Bancorporation, Inc. reported stable net income of $2.5 million for Q4 2024, maintaining the same level as Q3 2024, and showing an increase from $1.9 million in Q4 2023, indicating consistent performance amidst changing market conditions [1][2]. Financial Performance - Net interest income before credit losses increased by $433,000, or 4.6%, to $9.9 million in Q4 2024 compared to Q3 2024, and increased by $535,000, or 5.7%, from Q4 2023 [4][9]. - Interest income rose by $409,000, or 2.0%, to $20.7 million in Q4 2024 compared to Q3 2024, and increased by $2.1 million, or 11.2%, from Q4 2023 [5]. - Interest income on loans and leases increased by $393,000, or 2.2%, to $18.5 million in Q4 2024, driven by a $2.0 million increase in the average balance of loans and leases [6]. Asset and Liability Management - Total assets remained stable at $1.5 billion as of December 31, 2024, with loans and leases net of allowance for credit losses totaling $1.2 billion [9][17]. - Nonperforming loans and leases decreased to $6.8 million, or 0.58% of total loans and leases, down from $8.0 million, or 0.72%, a year earlier [19]. - Total deposits increased by $52.8 million, or 5.1%, to $1.1 billion compared to December 31, 2023, primarily due to increases in savings and money-market accounts [23]. Equity and Capital Management - Stockholders' equity totaled $132.9 million at December 31, 2024, a decrease of $2.0 million from the previous year, attributed to dividend payments and stock repurchases [25][26]. - The Company repurchased 133,858 shares of common stock at an average price of $13.95 per share during Q4 2024 [26]. Credit Quality and Provisions - A provision for credit losses of $196,000 was recognized in Q4 2024, compared to a reversal of $99,000 in Q3 2024, indicating a cautious approach to credit risk management [13]. - The allowance for credit losses totaled $15.8 million, or 1.34% of total loans and leases outstanding, reflecting a slight decrease from 1.42% a year earlier [20]. Interest Rate Environment - The annualized net interest margin increased to 2.70% for Q4 2024, compared to 2.60% in Q3 2024, driven by a greater increase in interest-earning assets relative to interest-bearing liabilities [12][36].