RMBI earnings analysis
What we found in RMBI's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Richmond Mutual delivered improved first-half performance, with net interest income up 11.9% to $23.5 million, net interest margin rising to 3.17% from 2.86%, and diluted EPS increasing to $0.51 from $0.46. However, second-quarter net income fell 14.4% to $2.2 million as $1.9 million of merger-related expenses contributed to a $2.1 million increase in noninterest expense. Loans and deposits grew, but nonaccrual loans increased to $20.0 million and the company continues to flag recession, credit, securities-loss, and uninsured-deposit risks. The Farmers Bancorp merger closed July 1, 2026, with its results expected to enter the reported financials in the quarter ending September 30, 2026.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Net interest income and margin expanded
- Net interest income before the provision for credit losses increased 12.2% to $12.1 million from $10.8 million, while net interest margin expanded to 3.22% from 2.93%, a 29-basis-point improvement.
- First-half earnings improved
- First-half diluted EPS increased to $0.51 from $0.46, and six-month net income rose 9.7% to $5.0 million from $4.6 million.
- Loan balances continued to grow
- Net loans and leases increased $31.0 million, or 2.6%, to $1.2 billion from December 31, 2025, supported by $15.6 million of commercial and industrial loan growth and $14.5 million of construction and development loan growth.
- Deposits increased
- Deposits increased $31.8 million, or 2.8%, to $1.1 billion. Brokered deposits rose to $264.3 million, or 23.0% of total deposits, from $235.9 million, or 21.2%.
- Fee income strengthened
- Second-quarter noninterest income increased 46.3% to $1.6 million, including a 79.5% increase in other income to $635,000 and a 78.9% increase in net gains on loan and lease sales to $181,000.
- Capital remained strong
- The Bank remained well-capitalized, with a total risk-based capital ratio of 14.24% versus the 10.0% well-capitalized threshold; consolidated stockholders' equity was $148.3 million at June 30, 2026.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Merger costs pressured quarterly earnings
- Second-quarter net income declined $375,000, or 14.4%, to $2.2 million from $2.6 million, while diluted EPS fell to $0.22 from $0.26. Noninterest expense increased $2.1 million, including $1.9 million of nonrecurring merger-related costs.
- Credit quality deterioration
- Nonaccrual loans and leases rose to $20.0 million from $13.2 million at December 31, 2025. The company recorded an $823,000 second-quarter credit-loss provision versus $745,000 a year earlier and cited heightened uncertainty from a potential recession, tariffs, inflation, and geopolitical tensions.
- Securities and deposit liquidity risk
- The available-for-sale securities portfolio carried a $44.0 million net unrealized loss at June 30, 2026. Approximately $271.6 million, or 23.7% of total deposits, was uninsured, creating potential liquidity sensitivity if deposit outflows require securities sales.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.22
What they said about what is next.
No quantitative revenue or EPS guidance was provided. Management stated that Farmers Bancorp's operating results will first be included in the quarter ending September 30, 2026.
The filing reads about the same as the one before it.
What came before.
- 10-Q · May 12, 2026
- Richmond Mutual Bancorporation reported a strong Q1 2026 with revenue of $12.744 million, outpacing Q1 2025's $11.934 million by 6.8%. EPS increased to $0.28 from $0.20 in the prior year, reflecting a positive…
- 10-K · March 23, 2026
- Richmond Mutual Bancorporation positions itself as a community commercial bank (First Bank Richmond) focused on lending in Indiana and Ohio and generating non-interest income from mortgage loan sales and wealth…
- 10-Q · November 10, 2025
- RMBI reported a strong Q3 2025 quarter driven by higher net interest income and improved profitability. Net interest income rose to $11,294,961 and diluted EPS increased to $0.36, with net income of $3,597,006 for the…
- 10-K · March 29, 2024
- Richmond Mutual Bancorporation positions itself as a community commercial bank (First Bank Richmond) focused on lending in its Indiana and Ohio primary markets and generating non-interest income from mortgage loan sales…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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