Richmond Mutual reports Q2 2022 net income $3.5M ($0.31 EPS), up 29% YoY; authorizes new 10% stock repurchase program

Richmond Mutual Bancorporation, Inc.

2022-Q2 EPS reported $0.58

Net income $3.5M ($0.31 diluted EPS) vs $2.8M ($0.24) in Q2 2021, up 29% YoY.
Net interest margin improved to 3.45% from 3.26% prior quarter; loans grew to $891.9M.
Deposits increased to $948.3M (+5.3% from Dec 2021); nonperforming loans stable at 0.89%.
Board authorized repurchase of up to 1,184,649 shares (~10% outstanding) via 10b5-1 plan.
During Q2, company repurchased 461,891 shares at avg $16.18; prior program ended July 7, 2022.

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