Richmond Mutual Bancorporation Completes Merger with The Farmers Bancorp

Richmond Mutual Bancorporation, Inc. (NASDAQ: RMBI) announced the successful completion of its merger with The Farmers Bancorp of Frankfort, Indiana, effective July 1, 2026. This strategic combination unites two community banking institutions with complementary markets and a shared commitment to customer service.

Under the terms of the merger, Farmers' shareholders will receive 3.40 shares of Richmond common stock for each share of Farmers common stock. Richmond anticipates issuing approximately 6,254,357 shares of its common stock. The combined entity will operate under the name Richmond Mutual Bancorporation, Inc., maintaining its Nasdaq ticker symbol 'RMBI'. The branches of the merged bank will operate as 'First Bank Midwest'.

Garry D. Kleer, Chairman and CEO of Richmond, expressed enthusiasm for welcoming the Farmers team and highlighted the opportunity to build on the strengths of both organizations. Christopher D. Cook, President of Richmond, emphasized a focus on a seamless transition for customers and employees, aiming to create a stronger community bank positioned for future growth and opportunity. The administrative headquarters of the combined company will be in Richmond, Indiana, with the bank's administrative headquarters in Frankfort, Indiana.