Richmond Mutual Bancorporation (RMBI) AI Stock Analysis

• Market Cap: $147.35M
• Dividend Yield: 4.26%
• Average Volume (3M): 17.52K
• Price to Earnings (P/E): 13.1
• Beta (1Y): 0.44
• Revenue Growth: 7.54%
• EPS Growth: 25.25%
• Country: US
• Employees: 171
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 0.36
• Shares Outstanding: 10,450,007
• 10 Day Avg. Volume: 23,004
• 30 Day Avg. Volume: 17,515
• PEG Ratio: 6.92
• Price to Book (P/B): 1.07
• Price to Sales (P/S): 1.68
• P/FCF Ratio: 9.98
• Enterprise Value/Market Cap: 2.60
• Enterprise Value/Revenue: 4.29
• Enterprise Value/Gross Profit: 8.55
• Enterprise Value/Ebitda: 28.26
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 72 Outperform
• Price Target: $15.00 ▲(7.22% Upside)

Richmond Mutual Bancorporation scores well due to its solid financial performance, reasonable valuation, and positive corporate events. The strategic merger and dividend announcement enhance its attractiveness. Technical indicators suggest a neutral trend, balancing the overall score.

Positive Factors

Strategic Merger

The merger will create a $2.6 billion asset community bank, enhancing product offerings and increasing shareholder value, reflecting a strong strategic direction.

Revenue Growth

Consistent revenue growth indicates expanding market reach and product adoption, supporting long-term business sustainability.

Cash Generation

Robust cash generation capabilities enhance financial flexibility, allowing for reinvestment and strategic initiatives.

Negative Factors

Gross Profit Margin Decline

A declining gross profit margin may indicate cost management issues, potentially affecting long-term profitability.

Cash Flow Volatility

Cash flow volatility can impact financial planning and stability, posing risks to consistent operational funding.

Leverage Concerns

While leverage has improved, maintaining manageable debt levels is crucial for financial health and operational flexibility.

Richmond Mutual Bancorporation Business Overview & Revenue Model

Company Description

Richmond Mutual Bancorporation, Inc. operates as a holding company for First Bank Richmond that provides various banking services. The company accepts various deposits, including savings deposit accounts, money market accounts NOW and demand accounts, and certificates of deposit. It also offers a range of lending products, such as multi-family and commercial real estate loans, commercial and industrial loans, construction and development loans, residential real estate loans, and consumer loans. In addition, the company engages in the lease financing business; and provision of fee-based financial services comprising trust and estate administration, investment management, retirement plan administration, and private banking services. It operates through 12 full service and one limited-service banking offices with seven full-service and one limited-service offices located in Indiana; five offices situated in Ohio; one full-service banking office and four other branch offices are located in Richmond, Indiana; two other offices in Cambridge City, Centerville, Richmond, and Shelbyville, Indiana; two offices in Sidney and Ohio; two offices in Piqua and one office in Troy, Ohio; and a loan production office in Columbus, Ohio. Richmond Mutual Bancorporation, Inc. was founded in 1887 and is headquartered in Richmond, Indiana.

How the Company Makes Money

Richmond Mutual Bancorporation generates revenue through various channels, primarily from interest income earned on loans and mortgages issued to customers. The bank lends to both consumers and businesses, charging interest on these loans, which is a significant portion of its income. Additionally, RMBI earns non-interest income through fees associated with deposit accounts, ATM transactions, and wealth management services. The company may also have partnerships with local businesses and community organizations that enhance its service offerings and customer base, contributing to overall earnings. Overall, the combination of interest income from lending activities and non-interest income from fees and services constitutes the core of RMBI's revenue model.

Richmond Mutual Bancorporation Financial Statement Overview

Summary

Richmond Mutual Bancorporation demonstrates stable revenue growth and consistent profitability, though margins have slightly declined. The balance sheet shows high leverage, which could be a risk factor. Cash flow generation is improving, but there are challenges in converting income to cash. Overall, the company is performing well but should monitor leverage and profitability closely.

Income Statement

Richmond Mutual Bancorporation shows a stable revenue growth with a TTM revenue growth rate of 1.43%. The gross profit margin is healthy at 49.29%, although it has decreased from previous years. Net profit margin is stable at 10.83%, indicating consistent profitability. However, margins have slightly declined compared to previous years, suggesting pressure on profitability.

Balance Sheet

The company has a high debt-to-equity ratio of 2.02, indicating significant leverage, which could pose risks in a rising interest rate environment. Return on equity is modest at 7.10%, reflecting moderate efficiency in generating returns from equity. The equity ratio is relatively low, suggesting a higher reliance on debt financing.

Cash Flow

Free cash flow growth is positive at 9.85%, showing improvement in cash generation. The operating cash flow to net income ratio is low at 1.52%, indicating potential challenges in converting income to cash. However, the free cash flow to net income ratio is strong at 94.41%, suggesting effective cash management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	89.31M	85.05M	71.82M	56.59M	51.21M	49.54M
Gross Profit	44.80M	42.68M	41.54M	45.77M	42.10M	36.37M
EBITDA	13.56M	11.91M	12.19M	17.04M	15.12M	13.96M
Net Income	10.64M	9.38M	9.49M	12.96M	11.14M	10.02M
Balance Sheet
Total Assets	1.53B	1.50B	1.46B	1.33B	1.27B	1.08B
Cash, Cash Equivalents and Short-Term Investments	130.94M	27.55M	302.93M	301.31M	380.58M	293.27M
Total Debt	254.00M	265.00M	271.00M	180.00M	180.00M	170.00M
Total Liabilities	1.39B	1.37B	1.33B	1.20B	1.09B	891.48M
Stockholders Equity	140.04M	132.87M	134.86M	132.38M	180.48M	192.71M
Cash Flow
Free Cash Flow	18.81M	14.29M	11.49M	17.78M	-10.23M	14.69M
Operating Cash Flow	20.09M	14.75M	12.11M	18.16M	-9.65M	16.57M
Investing Cash Flow	-23.30M	-49.30M	-122.53M	-116.12M	-212.19M	-89.26M
Financing Cash Flow	17.90M	36.06M	114.74M	90.85M	196.10M	80.85M

Richmond Mutual Bancorporation Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 13.99
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RMBI, the sentiment is Positive. The current price of 13.99 is above the 20-day moving average (MA) of 13.94, above the 50-day MA of 13.52, and above the 200-day MA of 13.45, indicating a bullish trend. The MACD of 0.23 indicates Negative momentum. The RSI at 52.71 is Neutral, neither overbought nor oversold. The STOCH value of 60.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for RMBI.

Richmond Mutual Bancorporation Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LARK	75 Outperform	$171.46M	9.85	11.72%	3.01%	12.31%	39.46%
RMBI	72 Outperform	$147.35M	13.14	7.60%	4.26%	7.54%	25.25%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
CFBK	67 Neutral	$167.92M	10.38	9.18%	1.16%	2.33%	22.43%
BFIN	64 Neutral	$155.88M	66.54	1.46%	3.23%	-2.62%	-70.70%
BCBP	58 Neutral	$143.34M	172.29	0.86%	7.69%	-8.73%	-95.86%
PNBK	55 Neutral	$210.43M	-0.68	-35.87%	―	-11.99%	63.64%

Richmond Mutual Bancorporation Corporate Events

Richmond Mutual Announces Quarterly Cash Dividend

On November 19, 2025, Richmond Mutual Bancorporation, Inc. announced a quarterly cash dividend of $0.15 per share on its common stock, payable on December 18, 2025, to stockholders of record as of December 4, 2025. This announcement reflects the company’s ongoing commitment to providing value to its shareholders and may enhance its attractiveness to investors, reinforcing its position in the financial services industry.

Richmond Mutual Announces Merger with Farmers Bancorp

On November 11, 2025, Richmond Mutual Bancorporation, Inc. announced a merger agreement with The Farmers Bancorp, expected to be completed in the second quarter of 2026. This strategic merger will create a $2.6 billion asset community bank with 24 branches across Indiana and Ohio, enhancing product offerings and increasing shareholder value. The merger is anticipated to deliver significant EPS accretion for Richmond Mutual and dividend accretion for Farmers Bancorp shareholders, with the combined company being led by a management team from both entities.