Richmond Mutual Bancorporation, Inc.
- Open
- 15.50
- Day high
- 15.99
- Day low
- 15.26
- Prev close
- 15.72
- Volume
- 57K
- Mkt cap
- $162M
- P/E (TTM)
- 12.0
- EPS (TTM)
- $1.28
- P/B
- 1.1
- P/S
- 1.8
- Yield
- 3.89%
- Per share
- $0.60
- ▲Insiders net buying $22K over the last 3 months (1 open-market buy, 0 sales)
- 🏛Institutions reducing (13F)
Richmond Mutual Bancorporation, Inc. (RMBI) is a Financial Services company listed on NASDAQ. The stock is up 11% over the past year. Over the trailing 3 months, insiders filed 1 open-market buy and 0 sales (SEC Form 4).
Richmond Mutual Bancorporation, Inc. (RMBI) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
RMBI earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Mar 23, 2026 | — | $0.35 | — | $23M | — |
| Oct 23, 2025 | — | $0.36 | — | $23M | — |
| Jul 23, 2025 | — | $0.26 | — | $22M | — |
| Apr 24, 2025 | — | $0.20 | — | $22M | — |
| Mar 27, 2025 | — | $0.24 | — | $22M | — |
| Oct 24, 2024 | — | $0.24 | — | $22M | — |
| Jul 25, 2024 | — | $0.20 | — | $21M | — |
| Apr 25, 2024 | — | $0.23 | — | $21M | — |
| Mar 29, 2024 | — | $0.19 | — | $20M | — |
| Oct 19, 2023 | — | $0.19 | — | $19M | — |
| Jul 25, 2023 | — | $0.26 | — | $17M | — |
| Apr 27, 2023 | — | $0.27 | — | $16M | — |
RMBI insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 8, 2026 | Moore James Daltondirector | Grant | 6,800 | — |
| Jul 8, 2026 | Moore James Daltondirector | Grant | 60,669 | — |
| Jul 8, 2026 | Moore James Daltondirector | Grant | 3,400 | — |
| Jul 8, 2026 | Moore James Daltondirector | Grant | 4,039 | — |
| Jul 7, 2026 | Cook Christopher Ddirector, other: President | Grant | 26,186 | — |
| Jul 6, 2026 | Lahrman Daniel J.director | Grant | 54,801 | — |
| Jul 6, 2026 | Kozuch Chadofficer: Chief Risk Officer | Grant | 61,251 | — |
| Jul 6, 2026 | Valentino Carroll Annofficer: Chief Operations Officer | Grant | 6,256 | — |
| Jul 6, 2026 | Cutillo Barbara Adirector | Grant | 2,380 | — |
| Jul 6, 2026 | Crawford Thomas D.director | Grant | 23,776 | — |
| Jun 4, 2026 | Blum E. Michaeldirector | Option | 3,500 | $10.53 |
| Jun 1, 2026 | Blum E. Michaeldirector | Buy | 1,500 | $14.36 |
| Feb 20, 2026 | Daily William A. Jr.officer: Market President (West Ohio) | Buy | 213 | $14.10 |
| Feb 19, 2026 | Daily William A. Jr.officer: Market President (West Ohio) | Buy | 347 | $14.40 |
| Jan 30, 2026 | Daily William A. Jr.officer: Market President (West Ohio) | Buy | 285 | $14.06 |
Source: RMBI SEC Form 4 filings, latest Jul 8, 2026. For informational purposes only — not investment advice.
See the full RMBI insider & 13F page →Richmond Mutual Bancorporation, Inc. company profile
Overview
Richmond Mutual Bancorporation, Inc. (NASDAQ:RMBI) is a bank holding company founded in 1887 and headquartered in Richmond, Indiana. The company operates through its subsidiary, First Bank Richmond, providing traditional banking services across Indiana and Ohio. Since going public in 2019, RMBI has maintained its focus on serving local communities through a network of 13 banking offices, emphasizing relationship-based banking in smaller metropolitan and rural markets.
Business
Richmond Mutual Bancorporation operates in the regional banking industry, which serves as a critical intermediary between depositors seeking safe places to store money and borrowers needing capital for various purposes. Regional banks like RMBI typically focus on specific geographic areas, offering more personalized service than large national banks while maintaining broader capabilities than community banks. The company's core business revolves around traditional banking services through First Bank Richmond. On the deposit side, RMBI accepts various types of customer deposits including savings accounts, money market accounts, NOW accounts (negotiable order of withdrawal accounts that pay interest), demand deposits (checking accounts), and certificates of deposit (CDs). These deposits provide the bank with funds to lend to other customers, representing the fundamental banking business model of borrowing short-term from depositors and lending long-term to borrowers. RMBI's lending portfolio encompasses several key segments. Commercial real estate loans and multi-family property loans likely represent significant portions of the loan book, targeting property investors and developers. Commercial and industrial loans serve business customers needing working capital or equipment financing. The bank also originates construction and development loans for real estate projects, residential mortgages for homebuyers, and various consumer loans for personal needs. Beyond traditional banking, RMBI operates additional business lines. The company engages in lease financing, providing equipment leasing solutions to businesses. It also offers fee-based financial services including trust and estate administration (managing assets for wealthy individuals and families), investment management services, retirement plan administration for businesses, and private banking services for high-net-worth clients. These fee-based services typically generate higher margins than traditional lending and provide revenue diversification.
Revenue model
RMBI generates revenue through the classic banking model of net interest income - the difference between interest earned on loans and investments versus interest paid on deposits and borrowed funds. This spread, known as net interest margin, represents the bank's primary revenue source. When market interest rates rise, banks can often improve margins by repricing loans faster than deposits, though this depends on the interest rate sensitivity of their asset and liability portfolios. The bank's fee-based services provide additional revenue streams through trust fees, investment management fees, and other service charges. These non-interest revenues are particularly valuable because they don't require the bank to deploy capital in the same way as lending activities, often generating higher returns on equity. Several factors influence RMBI's profitability margins. Interest rate environment significantly impacts net interest margins - rising rates can benefit banks with more variable-rate assets than liabilities, while falling rates can compress margins. Credit quality directly affects profitability through loan loss provisions; economic downturns in RMBI's Indiana and Ohio markets could increase defaults and reduce margins. Competition from other regional banks, credit unions, and fintech lenders can pressure both deposit rates (increasing funding costs) and loan rates (reducing asset yields). Regulatory compliance costs represent a significant expense for regional banks, with new regulations potentially increasing operational expenses. The bank's operational efficiency, measured by the efficiency ratio (non-interest expenses divided by revenue), determines how much of the gross revenue flows to the bottom line. Finally, deposit composition matters significantly - demand deposits and savings accounts typically cost less than CDs or money market accounts, so shifts in customer preferences can impact funding costs.
Competitive moat
RMBI's competitive moat appears relatively narrow, typical of smaller regional banks. The company's primary defensive characteristics stem from its local market knowledge and relationships built over more than 135 years of operation in Indiana and Ohio. These relationships can provide advantages in understanding local credit risks and maintaining customer loyalty, particularly among small businesses and individuals who value personalized service. The bank's branch network in smaller markets provides some protection against digital-only competitors, as many customers still prefer in-person banking relationships for complex transactions. However, this geographic concentration also represents a vulnerability, as economic weakness in the Indiana-Ohio region could disproportionately impact RMBI compared to more geographically diversified banks. Competitive threats are substantial and growing. Large national banks possess significant advantages in technology investment, regulatory compliance capabilities, and funding costs due to their scale. Credit unions often compete aggressively on both deposit and loan rates due to their tax-exempt status. Fintech companies increasingly target traditional banking services, particularly in lending and payments, often with more streamlined processes and competitive pricing. The banking industry's regulatory barriers to entry provide some protection, as obtaining banking charters requires substantial capital and regulatory approval. However, non-bank lenders face fewer regulatory constraints and can compete aggressively in specific lending niches. RMBI's small size limits its ability to invest heavily in technology or absorb regulatory compliance costs as efficiently as larger competitors, potentially eroding its competitive position over time.
Risks & safety
RMBI demonstrates adequate but not exceptional financial safety characteristics for a regional bank. • Solvency and Liquidity: The bank maintains $22.1 million in cash and short-term investments as of Q4 2024, representing reasonable liquidity. However, the debt-to-equity ratio of 1.99x reflects typical banking leverage, where deposits and other liabilities significantly exceed equity capital. • Profitability Trends: Net income of $9.4 million in 2024 compared to $9.5 million in 2023 shows stable but flat earnings. Return on equity of 7.1% in 2024 versus 7.0% in 2023 indicates consistent but modest profitability. • Valuation Metrics: Trading at 15.2x trailing earnings and 1.07x book value, RMBI appears reasonably valued relative to tangible book value, though not deeply discounted. • Asset Quality: Total assets of $1.51 billion provide reasonable scale, though specific credit quality metrics and loan loss provisions would require deeper analysis of regulatory filings. • Capital Adequacy: The bank's equity-to-assets ratio of approximately 8.8% suggests adequate capitalization for regulatory requirements, though not exceptionally strong.
Recent development
Based on available financial data, RMBI has maintained a steady operational approach without dramatic strategic pivots over recent years. The company has focused on consistent profitability while navigating the challenging interest rate environment that has affected the entire banking sector. Revenue has remained relatively stable, with 2024 total revenue of $43.2 million compared to $42.1 million in 2023, suggesting the bank has successfully managed through interest rate volatility. The slight decline in net income from $9.5 million in 2023 to $9.4 million in 2024 indicates some margin pressure, likely reflecting the broader industry challenges of deposit competition and credit quality concerns. The bank appears to have maintained its conservative approach to growth and risk management, with no significant expansion of its branch network or major acquisitions indicated in the recent financial data. This stability-focused strategy reflects the challenges facing regional banks in the current environment, where rapid growth can increase risk while technological investments require substantial capital commitments. RMBI's consistent free cash flow generation of approximately $14.3 million in 2024 versus $11.5 million in 2023 demonstrates the bank's ability to generate cash from operations, providing flexibility for capital allocation decisions including potential dividend payments or strategic investments.
RMBI company profile · for informational purposes only — not investment advice.
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