RMBI merges with Farmers Bancorp in all-stock deal valued at ~$82M

Richmond Mutual Bancorporation, Inc.

Exchange ratio: 3.4 RMBI shares per FABP share; aggregate equity value ~$82M based on RMBI closing of $13.15 on Nov 10.
Combined company pro forma assets of $2.6B and 24 branches across Indiana and Ohio; expected close in Q2 2026.
Transaction expected to generate ~35% EPS accretion for RMBI shareholders and ~27.5% dividend accretion for FABP shareholders.
Garry Kleer to serve as CEO of combined company; Chris Cook as President and CEO of combined bank; Board expands to 11 with 5 FABP directors.
FABP termination fee of $3.3M under certain conditions; all directors of both companies have entered voting agreements to support the merger.

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