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Richmond Mutual Bancorporation Reports Q3 2025 Financial Results

Richmond Mutual Bancorporation, Inc., a Maryland-based financial institution, proudly unveils its financial results for the third quarter of 2025, highlighting notable success and growth. The company's net income reached an impressive $3.6 million, equivalent to $0.37 per diluted share. This marks a significant increase compared to the previous quarter's net income of $2.6 million ($0.26 per share) and the $2.5 million ($0.24 per share) reported for the same period in 2024. Such a strong performance indicates a robust 42% growth in diluted earnings per share from the previous quarter, and a remarkable 54% surge compared to the third quarter a year prior.

The notable growth in net income and earnings per share can be attributed primarily to an expansion in net interest income driven by an improved net interest margin. Garry Kleer, the President and CEO, expressed satisfaction with these results, citing them as a testament to the strength of their core banking model and the dedicated efforts of the Richmond Mutual team. Despite the ongoing challenges in the economic landscape, including inflationary pressures and interest rate fluctuations, the company remains committed to prioritizing customer care and community support.

Third Quarter Highlights

• - Total Assets: As of September 30, 2025, Richmond Mutual reported total assets of $1.5 billion, consistent with previous reporting periods.
• - Loans and Leases: Outstanding loans and leases amounted to $1.2 billion at the end of September, mirroring figures from prior quarters.
• - Non-performing Loans: Non-performing loans and leases increased to $10.8 million, representing 0.90% of the total loans and leases, a rise from the previous quarter's ratio.
• - Credit Loss Allowance: The allowance for credit losses stood at $16.4 million, equal to 1.37% of the total loans and leases, indicating a careful management strategy.

The financial figures reveal a proactive approach by Richmond Mutual in focusing on increasing their earning assets while maintaining an eye on quality. The company's net interest income rose by 5.0%, amounting to $11.3 million for the quarter, coupled with a notable annualized net interest margin increase to 3.07%. This positive development is aligned with their strategic focus amid a stable interest rate environment maintained by the Federal Open Market Committee throughout 2025.

In his comments, CEO Garry Kleer further emphasized the importance of thoughtful decision-making, ensuring the bank continues to build long-term value for shareholders while navigating current economic conditions. The bank also saw an increase in deposits to $1.1 billion, reinforcing its solid standing in the local market.

Looking Forward

As Richmond Mutual Bancorporation looks to the future, the company plans to sustain its commitment to providing exceptional service to its communities while driving strategic growth. The challenges posed by inflation and uncertain economic conditions will not deter Richmond Mutual from maintaining its focus on prudent financial management combined with a dedication to customer satisfaction. This approach has historically guided Richmond Mutual, ensuring its resilience and stability in a fluctuating market.

Richmond Mutual Bancorporation, headquartered in Richmond, Indiana, is the parent company of First Bank Richmond and operates multiple locations across Indiana and Ohio, reflecting its strong community-oriented approach.