secwatch.observer — SEC 8-K summary
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Issuer:     Richmond Mutual Bancorporation, Inc. (RMBI)
CIK:        0001767837
Form:       8-K
Filed at:   2024-07-26T23:59:59+00:00
Accession:  0001767837-24-000014
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 $2.1M, EPS $0.20; NIM compresses to 2.64%
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- Diluted EPS of $0.20 vs $0.23 in Q1'24 and $0.26 in Q2'23; net income $2.1M down 12.5% QoQ.
- Net interest margin 2.64% from 2.74% QoQ and 2.77% YoY; interest expense rose 8.6% QoQ.
- Provision for credit losses $270K vs $183K QoQ; net charge-offs $450K in Q2.
- Nonperforming loans $7.7M (0.67% of loans) vs $8.0M at Dec'23; deposit base grew 5.7% since Dec'23.
- Repurchased 97,315 shares at avg $11.68 in Q2; additional 16,034 shares repurchased post-quarter.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1767837/000176783724000014/0001767837-24-000014-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1767837/000176783724000014/rmbi-20240725.htm
  HTML page:      https://secwatch.observer/filing/0001767837-24-000014

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