secwatch.observer — SEC 8-K summary
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Issuer:     Richmond Mutual Bancorporation, Inc. (RMBI)
CIK:        0001767837
Form:       8-K
Filed at:   2023-07-25T23:59:59+00:00
Accession:  0001767837-23-000017
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1767837/000176783723000017/0001767837-23-000017-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1767837/000176783723000017/rmbi-20230725.htm
  HTML page:      https://secwatch.observer/filing/0001767837-23-000017

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer