secwatch.observer — SEC 8-K summary
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Issuer:     Richmond Mutual Bancorporation, Inc. (RMBI)
CIK:        0001767837
Form:       8-K
Filed at:   2023-10-20T23:59:59+00:00
Accession:  0001767837-23-000020
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Richmond Mutual Q3 net income $1.9M ($0.19 EPS), down from Q2; net margin falls to 2.66%
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- Net income $1.9M ($0.19 diluted EPS) vs $2.7M ($0.26) in Q2 2023 and $3.2M ($0.29) in Q3 2022.
- Net interest margin 2.66%, down from 2.77% QoQ and 3.39% YoY; net interest income fell 2.2% QoQ and 13.2% YoY.
- Loans grew 10.9% YTD to $1.1B; deposits up 4.8% to $1.1B. Nonperforming loans improved to 0.74% from 0.94%.
- Repurchased 148,546 shares at avg $11.39 in Q3; ~959,611 shares remain under buyback program.
- Provision for credit losses $50K vs $8K in Q2; credit quality stable with net charge-offs $299K in Q3.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1767837/000176783723000020/0001767837-23-000020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1767837/000176783723000020/rmbi-20231019.htm
  HTML page:      https://secwatch.observer/filing/0001767837-23-000020

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