Richmond Mutual Bancorporation (RMBI) Q4 2025 earnings summary

Executive summary

• Reported Q4 2025 net income of $3.4 million ($0.35 diluted EPS), down from $3.6 million in Q3 2025 but up from $2.5 million in Q4 2024; full-year 2025 net income was $11.6 million ($1.17 diluted EPS), up from $9.4 million in 2024.

• Q4 results were negatively impacted by $467,000 in pre-tax acquisition-related expenses tied to the pending merger with Farmers Bancorp, reducing EPS by $0.04.

• Net interest income growth and an expanded net interest margin drove year-over-year earnings improvement.

Financial highlights

• Assets totaled $1.5 billion at December 31, 2025, unchanged from prior periods.

• Loans and leases, net of allowance, were $1.2 billion; deposits totaled $1.1 billion.

• Book value and tangible book value per share rose to $13.88 from $12.29 a year earlier.

• Net interest income for Q4 2025 was $11.5 million, up 2.1% sequentially and 16.9% year-over-year.

• Annualized net interest margin improved to 3.11% from 2.70% a year ago.

• Noninterest income increased 17.2% sequentially and 27.7% year-over-year to $1.5 million.

• Noninterest expense rose 5.6% sequentially and 7.7% year-over-year, mainly due to acquisition-related costs.

Outlook and guidance

• The merger with Farmers Bancorp is expected to close in Q2 2026, pending regulatory and shareholder approvals.

• Management anticipates the merger will enhance scale, market presence, and EPS growth.