secwatch.observer — SEC 8-K summary
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Issuer:     Richmond Mutual Bancorporation, Inc. (RMBI)
CIK:        0001767837
Form:       8-K
Filed at:   2025-04-24T23:59:59+00:00
Accession:  0001767837-25-000007
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Richmond Mutual Q1 2025 net income $2.0M ($0.20 EPS) vs $2.4M ($0.23) YoY; provision for credit losses surges
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- Diluted EPS $0.20 vs $0.24 in Q4 2024 and $0.23 in Q1 2024; net income $2.0M, down from $2.5M and $2.4M respectively.
- Provision for credit losses $731,000, up from $196,000 in Q4 2024 and $183,000 in Q1 2024, driven by commercial loan growth.
- One-time pre-tax expense of $246,000 from core provider contract negotiations reduced EPS by $0.02.
- Net interest margin improved to 2.79% from 2.70% in prior quarter; net interest income rose 4.0% sequentially to $10.3M.
- Repurchased 324,696 shares at avg $13.04 during quarter; additional 48,258 shares bought after quarter end.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1767837/000176783725000007/0001767837-25-000007-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1767837/000176783725000007/rmbi-20250424.htm
  HTML page:      https://secwatch.observer/filing/0001767837-25-000007

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