Richmond Mutual Q2 net income falls to $2.7M; net interest margin compresses to 2.77%

Richmond Mutual Bancorporation, Inc.

2023-Q2 EPS reported $0.53

Q2 2023 diluted EPS $0.26, down from $0.27 in Q1 2023 and $0.31 in Q2 2022.
Net interest income decreased 5.4% sequentially to $9.3M; net interest margin fell 27 bps to 2.77%.
Nonperforming loans improved to 0.81% of total loans ($8.5M) vs 0.94% at Dec 2022.
Company repurchased 237,072 shares at avg $10.26 during Q2; 1.1M shares remain under program.
Adopted CECL on Jan 1, 2023, adding $3.8M net-of-tax to allowance; allowance now 1.45% of loans.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Richmond Mutual Bancorporation, Inc. reported second quarter of 2023 results: net income $2.7 million, EPS $0.26 diluted earnings per share.

Period: second quarter of 2023
Net income: $2.7 million
EPS: $0.26 diluted earnings per share
Result: reported results

Exact text from the filing

Richmond Mutual Bancorporation, Inc., a Maryland corporation (the "Company") (NASDAQ: RMBI), parent company of First Bank Richmond (the "Bank"), today announced net income of $2.7 million, or $0.26 diluted earnings per share, for the second quarter of 2023

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Richmond Mutual Bancorporation, Inc. filing history →

Source: SEC EDGAR

accession 0001767837-23-000017

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