---
schema_version: "secwatch.filing_event.v1"
accession: "0001767837-24-000008"
form_type: "8-K"
ticker: "RMBI"
cik: "0001767837"
company_name: "Richmond Mutual Bancorporation, Inc."
filed_at: "2024-04-25T23:59:59+00:00"
generated_at: "2026-06-03T08:09:56.765104+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Richmond Mutual Q1 2024 net income $2.4M ($0.23 EPS); net interest margin improves to 2.74%

## Summary
- Net income of $2.4M ($0.23 diluted EPS) vs $1.9M ($0.19) in Q4 2023 and $2.9M ($0.27) in Q1 2023.
- Net interest margin 2.74% vs 2.67% prior quarter; net interest income up 5.4% QoQ to $9.8M.
- Nonperforming loans improved to 0.61% of total loans from 0.72% at December 31, 2023.
- Deposits up $28.5M to $1.1B; brokered time deposits $291.3M (27.2% of total deposits).
- Repurchased 92,613 shares at avg $11.58 in Q1; additional 39,878 shares after quarter end.

## SEC filing metadata
- accession: 0001767837-24-000008
- form_type: 8-K
- ticker: RMBI
- cik: 0001767837
- company_name: Richmond Mutual Bancorporation, Inc.
- filed_at: 2024-04-25T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1767837/000176783724000008/0001767837-24-000008-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1767837/000176783724000008/rmbi-20240425.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001767837-24-000008
- JSON: https://secwatch.observer/filing/0001767837-24-000008.json
- Plain text: https://secwatch.observer/filing/0001767837-24-000008.txt

## Key facts
- Earnings Releases
  Richmond Mutual Bancorporation, Inc. reported first quarter of 2024 results: net income $2.4 million, EPS $0.23 diluted earnings per share.
  - Period: first quarter of 2024
  - Net income: $2.4 million
  - EPS: $0.23 diluted earnings per share
  - Result: reported results
  source text: Richmond Mutual Bancorporation, Inc., a Maryland corporation (the “Company”) (NASDAQ: RMBI), parent company of First Bank Richmond (the “Bank”), today announced net income of $2.4 million, or $0.23 diluted earnings per share, for the first quarter of 2024
  evidence_url: https://www.sec.gov/Archives/edgar/data/1767837/000176783724000008/0001767837-24-000008-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.