---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-013653"
form_type: "8-K"
ticker: "RMBI"
cik: "0001767837"
company_name: "Richmond Mutual Bancorporation, Inc."
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T09:15:19.653758+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Richmond Mutual Q1 net income $2.9M ($0.27 EPS); NIM narrows to 3.04% on rate headwinds

## Summary
- Net income $2.9M vs $3.3M in Q4 2022; diluted EPS $0.27 down 12.9% sequentially.
- Net interest income fell 6.2% to $9.9M; NIM compressed 29 bp to 3.04%.
- Adopted CECL, recording a one-time $3.8M after-tax reduction to retained earnings.
- Nonperforming loans improved to 0.86% of loans from 0.94% at Dec 31.
- Repurchased 98,553 shares at avg $11.68; deposits flat but brokered deposits up to 28.3%.

## SEC filing metadata
- accession: 0001628280-23-013653
- form_type: 8-K
- ticker: RMBI
- cik: 0001767837
- company_name: Richmond Mutual Bancorporation, Inc.
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1767837/000162828023013653/0001628280-23-013653-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1767837/000162828023013653/rmbi-20230427.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-013653
- JSON: https://secwatch.observer/filing/0001628280-23-013653.json
- Plain text: https://secwatch.observer/filing/0001628280-23-013653.txt

## Key facts
- Earnings Releases
  Richmond Mutual Bancorporation, Inc. reported first quarter of 2023 results: net income $2.9 million, EPS $0.27 diluted earnings per share.
  - Period: first quarter of 2023
  - Net income: $2.9 million
  - EPS: $0.27 diluted earnings per share
  - Result: reported results
  source text: Richmond Mutual Bancorporation, Inc., a Maryland corporation (the “Company”) (NASDAQ: RMBI), parent company of First Bank Richmond (the “Bank”), today announced net income of $2.9 million, or $0.27 diluted earnings per share, for the first quarter of 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/1767837/000162828023013653/0001628280-23-013653-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.