Richmond Mutual Q2 net income $3.5M, EPS $0.31; announces new 10% stock buyback program

Richmond Mutual Bancorporation, Inc.

2022-Q2 EPS reported $0.58

Net income $3.5M ($0.31 diluted EPS) vs $3.0M ($0.26) Q1'22 and $2.8M ($0.24) Q2'21; YoY EPS +29%.
Net interest margin 3.45%, up 19 bps QoQ; net interest income $10.5M (+4.9% QoQ).
Loans and leases net $891.9M (+7.1% from Dec'21); deposits $948.3M (+5.3%).
Board authorized repurchase of up to 1,184,649 shares (~10% outstanding) via open market or 10b5-1 plan.
During Q2 repurchased 461,891 shares at avg $16.18; previous program ended July 7 with 817,984 shares bought.

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