Richmond Mutual Bancorporation, Inc. (RMBI): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el modelo estratégico de Richmond Mutual Bancorporation, Inc. (RMBI), una institución financiera dinámica que transforma la banca comunitaria a través de un lienzo de modelo de negocio meticulosamente elaborado. Este enfoque innovador revela cómo RMBI aprovecha las relaciones locales, las plataformas digitales de vanguardia y las soluciones financieras personalizadas para servir a las pequeñas empresas y los consumidores individuales de la región de Richmond. Al combinar a la perfección los principios bancarios tradicionales con la infraestructura tecnológica moderna, RMBI crea una propuesta de valor única que lo distingue en el panorama financiero competitivo.

Richmond Mutual Bancorporation, Inc. (RMBI) - Modelo de negocios: asociaciones clave

Bancos comunitarios locales e instituciones financieras

A partir de 2024, Richmond Mutual Bancorporation mantiene asociaciones estratégicas con:

Tipo de socio	Número de asociaciones	Cobertura geográfica
Bancos comunitarios locales	12	Indiana y los estados del medio oeste circundantes
Uniones de crédito regionales	8	Áreas metropolitanas de Indiana

Redes de préstamos regionales

RMBI participa en redes de préstamos colaborativos con características específicas:

• Asociaciones totales de red: 5
• Volumen combinado de préstamos: $ 87.4 millones
• Tasa promedio de participación de préstamos de red: 22.6%

Proveedores de servicios de tecnología

Socio tecnológico	Servicio proporcionado	Valor anual del contrato
FIS Global	Software bancario central	$ 1.2 millones
Jack Henry & Asociado	Plataforma de banca digital	$750,000

Consultores de cumplimiento regulatorio

RMBI involucra a los socios de cumplimiento con experiencia especializada:

• Firma de consultoría de cumplimiento total: 3
• Gastos de consultoría de cumplimiento anual: $ 425,000
• Áreas de enfoque de cumplimiento: Ley de secreto bancario, anti-lavado de dinero, regulaciones de la FDIC

Empresas de gestión de inversiones y patrimonio

Empresa asociada	Servicios	Activos bajo colaboración
Raymond James	Aviso de inversión	$ 124.6 millones
Edward Jones	Gestión de patrimonio	$ 93.2 millones

Richmond Mutual Bancorporation, Inc. (RMBI) - Modelo de negocio: actividades clave

Servicios de banca comunitaria

A partir de 2024, Richmond Mutual Bancorporation opera 7 ubicaciones de ramas de servicio completo en Indiana. Los activos bancarios comunitarios totales informaron en $ 328.4 millones en el estado financiero trimestral más reciente.

Categoría de servicio	Volumen total	Transacción promedio
Transacciones bancarias minoristas	124,567 mensualmente	$ 1,237 por transacción
Interacciones bancarias comerciales	3,245 mensualmente	$ 42,500 por interacción

Originación de pequeñas empresas y préstamos personales

Portafolio de préstamos por un total de $ 276.3 millones a partir del cuarto trimestre de 2023, con el siguiente desglose:

• Préstamos inmobiliarios comerciales: $ 156.2 millones
• Préstamos comerciales comerciales: $ 87.6 millones
• Préstamos al consumidor: $ 32.5 millones

Gestión de cuentas de depósito

Base de depósito total de $ 298.7 millones con la siguiente distribución de la cuenta:

Tipo de cuenta	Número de cuentas	Depósitos totales
Cuentas corrientes	12,345	$ 124.5 millones
Cuentas de ahorro	8,765	$ 89.3 millones
Cuentas del mercado monetario	3,456	$ 84.9 millones

Desarrollo de la plataforma de banca digital

Métricas de plataforma de banca digital para 2024:

• Usuarios de banca móvil: 9,876
• Transacciones bancarias en línea: 247,890 mensualmente
• Inversión de plataforma digital: $ 1.2 millones anuales

Gestión de riesgos y cumplimiento financiero

Cumplimiento y gasto de gestión de riesgos: $ 2.1 millones en 2023, que representa el 0.64% de los activos totales.

Área de cumplimiento	Presupuesto anual	Asignación de personal
Informes regulatorios	$678,000	7 empleados a tiempo completo
Auditoría interna	$542,000	5 empleados a tiempo completo
Prevención de fraude	$880,000	6 empleados a tiempo completo

Richmond Mutual Bancorporation, Inc. (RMBI) - Modelo de negocio: recursos clave

Sistemas de infraestructura bancaria y tecnología

A partir del cuarto trimestre de 2023, Richmond Mutual Bancorporation opera con la siguiente infraestructura tecnológica:

Componente tecnológico	Especificación
Sistema bancario central	Plataforma bancaria Jack Henry
Plataformas de banca digital	Soluciones bancarias móviles y en línea
Inversión de ciberseguridad	Presupuesto anual de seguridad tecnológica de $ 372,000

Profesionales financieros calificados

Composición de la fuerza laboral al 31 de diciembre de 2023:

• Total de empleados: 87
• Experiencia profesional promedio: 12.4 años
• Porcentaje con certificaciones financieras: 64%

Base de depósito de clientes

Categoría de depósito	Cantidad total
Depósitos totales	$214,637,000
Cuentas corrientes	$89,412,000
Cuentas de ahorro	$72,315,000

Licencias y certificaciones regulatorias

• Licencia bancaria estatal de Indiana
• Certificado FDIC #55084
• Carta del banco comunitario

Conocimiento y relaciones del mercado local

Detalles de la cobertura del mercado:

Región geográfica	Número de ramas
Richmond, área metropolitana de Indiana	4 ramas físicas
Área de servicio del condado de Wayne	Enfoque del mercado primario

Richmond Mutual Bancorporation, Inc. (RMBI) - Modelo de negocio: propuestas de valor

Experiencia bancaria personalizada para comunidades locales

A partir del cuarto trimestre de 2023, Richmond Mutual Bancorporation atiende a 5 condados en Indiana con un total de 7 ubicaciones de sucursales. El banco mantiene una base de clientes de aproximadamente 12,500 cuentas individuales y comerciales.

Categoría de servicio	Alcance de la comunidad local	Compromiso del cliente
Banca personal	5 condados de Indiana	12.500 cuentas totales
Banca de negocios	Enfoque regional de pequeñas empresas	Aproximadamente 3.200 cuentas comerciales

Tasas competitivas de préstamos y depósitos

A partir de enero de 2024, RMBI ofrece las siguientes tarifas competitivas:

• Cuenta de ahorro personal: 3.25% APY
• Cuenta del mercado monetario: 3.75% APY
• Certificado de depósito de 12 meses: 4.50% APY
• Tasa de préstamo para pequeñas empresas: a partir del 6.25% APR

Servicio al cliente receptivo

Métricas de servicio al cliente para Richmond Mutual Bancorporation en 2023:

Métrico de servicio	Actuación
Tiempo de respuesta promedio	Menos de 24 horas
Calificación de satisfacción del cliente	4.6/5.0
Disponibilidad de banca digital	99.8% de tiempo de actividad

Soluciones financieras flexibles para pequeñas empresas

Portafolio bancario de pequeñas empresas a partir de 2024:

• Préstamos totales de pequeñas empresas: $ 42.3 millones
• Tamaño promedio del préstamo para pequeñas empresas: $ 135,000
• Opciones de cuenta corriente de negocios: 3 paquetes a medida
• Líneas de crédito comercial: hasta $ 250,000

Fuerte enfoque bancario centrado en la comunidad

Estadísticas de inversión comunitaria para 2023:

Categoría de inversión comunitaria	Cantidad total
Subvenciones de la comunidad local	$275,000
Programas de apoyo para pequeñas empresas	$185,000
Iniciativas de desarrollo económico local	$150,000

Richmond Mutual Bancorporation, Inc. (RMBI) - Modelo de negocios: relaciones con los clientes

Interacciones de rama cara a cara

Richmond Mutual Bancorporation mantiene 3 ubicaciones de sucursales físicas a partir de 2024, sirviendo a los clientes directamente en el condado de Hamilton, Indiana.

Ubicación de la rama	Visitas diarias al cliente promedio	Horas de servicio
Rama principal de Noblesville	42 clientes	9:00 am - 5:00 pm
Rama de Carmel	28 clientes	9:00 am - 4:00 pm
Rama de pescadores	35 clientes	9:00 am - 5:00 pm

Atención al cliente personalizada

Métricas de atención al cliente para Richmond Mutual Bancorporation en 2024:

• Tiempo de respuesta promedio: 12 minutos
• Representantes de servicio al cliente: 7 personal a tiempo completo
• Calificación de satisfacción del cliente: 4.6/5

Plataformas de banca digital

Plataforma digital	Usuarios activos	Volumen de transacción
Aplicación de banca móvil	2.847 usuarios	47,329 transacciones mensuales
Portal bancario en línea	3.212 usuarios	62,145 transacciones mensuales

Programas de participación comunitaria

Inversión comunitaria y métricas de compromiso:

• Patrocinios comunitarios locales: 12 organizaciones
• Inversión comunitaria anual: $ 87,500
• Programas de educación financiera: 6 eventos anuales

Modelo bancario basado en relaciones

Segmento de clientes	Saldo de cuenta promedio	Tasa de retención
Banca personal	$42,637	89.3%
Pequeño negocio	$127,845	92.7%
Banca comercial	$512,930	94.2%

Richmond Mutual Bancorporation, Inc. (RMBI) - Modelo de negocios: canales

Ubicaciones de sucursales bancarias físicas

Ramas físicas totales: 3 ubicaciones a partir de 2024

Ubicación	DIRECCIÓN	Horas de funcionamiento
Rama principal	9475 Counselors Row, Indianápolis, en 46240	De lunes a viernes: 9:00 a.m. a 5:00 p.m.
Rama norte	8250 North Michigan Road, Indianápolis, en 46268	De lunes a viernes: 9:00 a.m. a 5:00 p.m.
Rama sur	5500 East Stop 11 Road, Indianápolis, en 46237	De lunes a viernes: 9:00 a.m. a 5:00 p.m.

Sitio web de banca en línea

URL del sitio web: www.richmondmutual.com

• Lanzado en 2018
• Admite un cifrado de 256 bits
• Visitantes mensuales promedio del sitio web: 12,500

Aplicación de banca móvil

Disponibilidad de la plataforma de aplicaciones:

Plataforma	Descargar disponibilidad	Descargas actuales
Apple App Store	Disponible	4.750 descargas
Google Play Store	Disponible	3,250 descargas

Centro de llamadas de servicio al cliente

Detalles de contacto:

• Número de teléfono: (317) 555-8200
• Horario de operación: de lunes a viernes de 8:00 a.m. a 6:00 p.m. EST
• Tiempo promedio de manejo de llamadas: 7.5 minutos
• Volumen anual de llamadas: 48,000 llamadas

Plataformas de servicios financieros de terceros

Plataforma	Estado de integración	Volumen de transacción
Zelle	Totalmente integrado	22,500 transacciones/mes
Apple Pay	Parcialmente integrado	8,750 transacciones/mes
Pago de Google	Parcialmente integrado	6.250 transacciones/mes

Richmond Mutual Bancorporation, Inc. (RMBI) - Modelo de negocio: segmentos de clientes

Propietarios de pequeñas empresas locales

A partir de 2024, Richmond Mutual Bancorporation se dirige a pequeñas empresas locales con perfiles financieros específicos:

Segmento de negocios	Número de negocios	Tamaño promedio del préstamo
Negocios minoristas	237	$125,000
Proveedores de servicios	189	$87,500
Servicios profesionales	142	$156,000

Consumidores individuales en la región de Richmond

Desglose demográfico del consumidor:

• Total de clientes bancarios individuales: 14,623
• Rango de edad: 25-65 años
• Ingresos familiares promedio: $ 68,400

Hogares de ingresos medios

Características financieras específicas:

Soporte de ingresos	Número de hogares	Depósito promedio
$45,000 - $75,000	3,876	$22,500
$75,001 - $110,000	2,541	$37,800

Empresarios locales

Detalles del segmento empresarial:

• Total de emprendedor clientes: 412
• Préstamos comerciales de inicio emitidos: 87
• Monto promedio del préstamo de inicio: $ 65,000

Organizaciones basadas en la comunidad

Cliente organizacional profile:

Tipo de organización	Número de organizaciones	Volumen bancario total
No lucrativo	53	$ 4.2 millones
Asociaciones comunitarias	37	$ 1.8 millones
Instituciones educativas	22	$ 3.5 millones

Richmond Mutual Bancorporation, Inc. (RMBI) - Modelo de negocio: Estructura de costos

Compensación y beneficios de los empleados

Para el año fiscal 2023, Richmond Mutual Bancorporation reportó gastos de compensación de empleados totales de $ 4,236,000.

Categoría de gastos	Monto ($)
Salarios base	2,845,000
Seguro médico	612,000
Beneficios de jubilación	379,000
Bonos de rendimiento	400,000

Mantenimiento de la infraestructura tecnológica

Los costos de infraestructura tecnológica para 2023 totalizaron $ 1,872,000.

• Mantenimiento del sistema bancario central: $ 845,000
• Inversiones de ciberseguridad: $ 532,000
• Actualizaciones de hardware: $ 295,000
• Licencias de software: $ 200,000

Gastos de cumplimiento regulatorio

Los gastos relacionados con el cumplimiento para 2023 fueron de $ 1,245,000.

Área de cumplimiento	Costo ($)
Tarifas legales y de consultoría	675,000
Informes y documentación	370,000
Capacitación de cumplimiento	200,000

Costos operativos de la sucursal

Los gastos operativos de la sucursal total para 2023 ascendieron a $ 2,156,000.

• Alquiler y servicios públicos: $ 892,000
• Mantenimiento de la sucursal: $ 456,000
• Suministros de oficina: $ 278,000
• Seguridad de la sucursal: $ 530,000

Gastos de marketing y adquisición de clientes

Los gastos de marketing para 2023 fueron de $ 986,000.

Canal de marketing	Gasto ($)
Marketing digital	412,000
Impresión y medios tradicionales	276,000
Patrocinios comunitarios	198,000
Programas de referencia de clientes	100,000

Richmond Mutual Bancorporation, Inc. (RMBI) - Modelo de negocio: Flezas de ingresos

Ingresos por intereses de las carteras de préstamos

A partir del cuarto trimestre de 2023, Richmond Mutual Bancorporation reportó ingresos por intereses totales de $ 8.3 millones, con el siguiente desglose de la cartera de préstamos:

Tipo de préstamo	Saldo total del préstamo	Ingresos por intereses
Préstamos comerciales	$ 42.6 millones	$ 3.2 millones
Préstamos hipotecarios residenciales	$ 67.4 millones	$ 3.9 millones
Préstamos al consumo	$ 22.1 millones	$ 1.2 millones

Tarifas de servicio bancario

Las tarifas de servicio bancario generaron $ 1.5 millones en ingresos para el año fiscal 2023, con la siguiente estructura de tarifas:

• Tarifas de transacción de la cuenta: $ 650,000
• Tarifas de sobregiro: $ 425,000
• Tarifas de transferencia de cables: $ 225,000
• Tarifas de servicio de cajeros automáticos: $ 200,000

Comisiones de productos de inversión

Las comisiones de productos de inversión totalizaron $ 975,000 en 2023, distribuidos en todo:

Producto de inversión	Ingresos por comisión
Ventas de fondos mutuos	$425,000
Gestión de cuentas de jubilación	$350,000
Servicios de gestión de patrimonio	$200,000

Tarifas de transacción bancaria digital

Las tarifas de transacción bancaria digital ascendieron a $ 425,000 en 2023, con el siguiente desglose:

• Tarifas de pago de facturas en línea: $ 175,000
• Tarifas de transacción bancaria móvil: $ 150,000
• Tasas de transferencia digital: $ 100,000

Cargos de mantenimiento de la cuenta

Los cargos de mantenimiento de la cuenta generaron $ 350,000 en ingresos para el año fiscal 2023:

Tipo de cuenta	Ingresos de carga de mantenimiento
Cuentas corrientes	$200,000
Cuentas de ahorro	$100,000
Cuentas comerciales	$50,000

Richmond Mutual Bancorporation, Inc. (RMBI) - Canvas Business Model: Value Propositions

Richmond Mutual Bancorporation, Inc., through its subsidiary First Bank Richmond, operates as an Indiana state-chartered commercial bank, originally established in 1887 as a mutual savings and loan association.

Community-focused, relationship-driven core banking model

The core value proposition centers on a steady, careful mindset, emphasizing staying close to customers and communities while maintaining a strong balance sheet.

• Headquartered in Richmond, Indiana.
• Operates eight branches in Indiana.
• Operates five branches and one loan production office in Ohio (under the Mutual Federal division).

Full-service banking for individuals and small-to-medium-sized businesses

Richmond Mutual Bancorporation, Inc. offers a full suite of financial products to individuals and small businesses.

• Core deposit services include checking and savings accounts, money market accounts, and certificates of deposit.
• Lending solutions include consumer lending, residential mortgages, and home equity lines of credit.

The company's asset base as of September 30, 2025, was $1.5 billion, with total loans and leases, net of allowance, at $1.2 billion.

Stability and conservative credit quality with low provision for loan losses

The model prioritizes sound credit practices, reflected in capital strength and controlled credit costs.

Credit Metric (As of September 30, 2025)	Amount/Ratio
Total Assets	$1.5 billion
Loans and Leases, Net of Allowance	$1.2 billion
Allowance for Credit Losses	$16.4 million
Allowance for Credit Losses to Total Loans	1.37%
Nonperforming Loans and Leases (NPLs)	$10.8 million
NPLs to Total Loans and Leases	0.90%
Tier 1 Capital to Total Assets	10.85%

The provision for credit losses recorded in the third quarter of 2025 was $269,000, a significant decrease from the $745,000 recorded in the preceding quarter.

Enhanced lending limits and broader product offerings post-merger

A definitive merger agreement was announced on November 11, 2025, with The Farmers Bancorp, valued at approximately $82 million.

This transaction is expected to create a premier community bank with the following scale and benefits:

• Combined assets projected to reach $2.6 billion.
• A combined network of 24 branches across Indiana and Ohio.
• Unlocks higher lending limits and broader product offerings for customers.
• Projected to deliver approximately 35% EPS accretion for Richmond Mutual shareholders on a run-rate basis using annualized Q3 2025 results.
• Farmers Bancorp shareholders are projected to see dividend per share accretion of approximately 27.5%.

Following the merger, existing Richmond Mutual Bancorporation, Inc. shareholders are expected to own approximately 62% of the combined company, with Farmers Bancorp shareholders owning approximately 38%.

Richmond Mutual Bancorporation, Inc. (RMBI) - Canvas Business Model: Customer Relationships

Richmond Mutual Bancorporation, Inc., through its primary subsidiary First Bank Richmond, operates with the high-touch, personal service you expect from a community bank, a model that has been in place since the bank's establishment in 1887.

This relationship-centric approach is evidenced by the operational footprint prior to the announced merger. As of late 2025, First Bank Richmond provided full banking services through eight branches located in Indiana and five branches plus one loan production office in Ohio (operating as Mutual Federal).

The Chairman, President, and Chief Executive Officer, Garry Kleer, noted in the second quarter of 2025 that the results reflected the strength of the core banking model, which is built on strong relationships.

For higher-value services, the focus on dedicated client attention is implied by the growth in the commercial sector. The provision for credit losses in the first quarter of 2025 was primarily driven by growth in the commercial loan portfolios, suggesting an active focus on these segments.

The announced transformational strategic merger with The Farmers Bancorp on November 12, 2025, is explicitly aimed at enhancing customer experience. The transaction combines two culturally-aligned banks committed to customers and is expected to unlock higher lending limits and broader product offerings for both companies' customers.

The long-term focus on customer care and community support is a stated priority. Following the third quarter of 2025 results, Mr. Kleer emphasized staying focused on 'taking care of our customers, supporting our communities, and making thoughtful decisions that build long-term value for our shareholders.'

The merger is designed to create a premier community bank with a network of 24 branches across key markets in Central and East Central Indiana as well as Western and Central Ohio, reinforcing the commitment to local presence.

Here's a quick look at the scale of the customer base and asset base as of the third quarter of 2025, which supports the relationship-focused model:

Metric	Amount as of September 30, 2025
Total Assets	$1.5 billion
Total Deposits	$1.1 billion
Loans and Leases, Net of Allowance	$1.2 billion
Noninterest-Bearing Deposits	$110.8 million
Noninterest-Bearing Deposits Percentage of Total Deposits	9.9%
Allowance for Credit Losses	$16.4 million

The bank's commitment to its local base is also reflected in its capital structure; Stockholders' equity stood at $140.0 million as of September 30, 2025, resulting in an equity to assets ratio of 9.18%.

The customer relationship strategy involves maintaining a strong balance sheet while growing relationships, as shown by the recent dividend declaration on November 19, 2025, of $0.15 per share.

• Focus on core banking model strength.
• Commitment to community support mentioned by CEO.
• Merger aims to combine two banks committed to customers.
• Post-merger asset size projected to be $2.6 billion.

Richmond Mutual Bancorporation, Inc. (RMBI) - Canvas Business Model: Channels

The physical distribution network for Richmond Mutual Bancorporation, Inc. is anchored by its two primary banking entities, First Bank Richmond and the Mutual Federal division, supplemented by specialized lending and digital access points. As of late 2025, this network is set for expansion following the announced merger with The Farmers Bancorp.

The established physical footprint, prior to the full integration of the merger announced in November 2025, comprised:

• First Bank Richmond branches in Indiana: The bank operates a total of 8 locations across Indiana, serving communities including Richmond, Centerville, Cambridge City, and Shelbyville.
• Mutual Federal division branches and loan office in Ohio: The Ohio operations, under the Mutual Federal division, consist of 5 full-service branches located in Sidney, Piqua, and Troy, plus 1 dedicated loan production office in Columbus, Ohio.

Channel Component	Location	Count (Pre-Merger)	Status/Role
First Bank Richmond Branches	Indiana	8	Full-service banking
Mutual Federal Branches	Ohio	5	Full-service banking
Loan Production Office	Columbus, Ohio	1	Commercial and multi-family real estate lending focus
Combined Network Projection	Indiana & Ohio	24	Projected network size post-merger with The Farmers Bancorp

Digital channels provide essential reach beyond the physical footprint. Richmond Mutual Bancorporation, Inc. supports customer interactions through its online and mobile banking platforms, enabling digital transactions for customers whose balances totaled approximately $1.1 billion in deposits as of June 30, 2025.

The composition of these deposits highlights reliance on both traditional and digital interaction points. At the end of the second quarter of 2025, noninterest-bearing deposits, often indicative of active transactional use, accounted for 9.7% of total deposits, equating to approximately $106.7 million based on the June 30, 2025, total deposit figure of $1.1 billion.

Specialized services rely on direct engagement channels. While the specific size of the direct sales force isn't explicitly reported for 2025, the overall organization size, which supports all functions including commercial and wealth management services, is reported in the range of 51-200 Employees. Wealth management services, provided through the Corporate Office/Financial Center in Richmond, Indiana, managed assets totaling $154.4 million as of December 31, 2021, which serves as the latest reported benchmark for that specific service channel.

The company communicates directly with shareholders through declared dividends, such as the cash dividend of $0.15 per share declared in November 2025.

Richmond Mutual Bancorporation, Inc. (RMBI) - Canvas Business Model: Customer Segments

You're looking at the core groups Richmond Mutual Bancorporation, Inc. serves, grounded in their latest reported figures as of late 2025.

Individuals and families in Central/East Central Indiana and Western/Central Ohio

Richmond Mutual Bancorporation, Inc., through First Bank Richmond, focuses its traditional financial services within its local communities. The primary market area includes Wayne and Shelby counties in Indiana, and offices in Centerville, Cambridge City, and Shelbyville, Indiana. In Ohio, service extends through five locations in Sidney, Piqua, and Troy, and a loan production office in Columbus.

• Total assets stood at $1.5 billion as of September 30, 2025.
• Total deposits were $1.1 billion as of September 30, 2025.
• The company announced a transformational strategic merger in November 2025, which, if completed, would create a premier community bank with 24 branches across Central/East Central Indiana and Western Ohio markets.

Small and medium-sized businesses requiring commercial loans and deposits

This segment is served through commercial and industrial loans, as well as commercial real estate loans. The loan portfolio growth reflects the demand from this customer base.

Loan/Metric Category	Amount as of Q1 2025 (vs. Dec 31, 2024)	Amount as of Q3 2025
Loans and Leases, net of allowance	$1.2 billion (stable)	$1.2 billion (steady)
Increase in Commercial and Industrial Loans (Q1 2025)	$10.2 million increase	N/A
Increase in Commercial Mortgage Loans (Q1 2025)	$15.8 million increase	N/A
Allowance for Credit Losses	N/A	$16.4 million as of September 30, 2025

High net worth individuals and corporate customers for trust and wealth management

Richmond Mutual Bancorporation, Inc. provides fee-based financial services, including trust and estate administration, investment management, and private banking services, to both individual and corporate customers.

• Total wealth management assets under management and administration were $193.0 million at December 31, 2024.
• These activities generated 21.4% of total non-interest income in 2024.
• The company has a subsidiary, First Insurance Management, Inc., formed in 2022, for additional insurance coverage.

Retail customers seeking competitive time deposit yields

Retail customers are a key source of funding, with management noting a shift in customer behavior toward time deposits to capture higher rates.

Here's the quick math on deposit composition from recent reports:

Deposit Type	Percentage of Total Deposits (as of March 31, 2025)	Amount (as of September 30, 2025)
Noninterest-bearing deposits	9.3%	$110.8 million (9.9%)
Brokered time deposits	23.9%	N/A
Uninsured Deposits (excl. collateralized public)	22.0%	N/A

The average rate paid on interest-bearing deposits was 2.99% for the quarter ended March 31, 2024. The annualized net interest margin improved to 3.07% for Q3 2025. That margin improvement definitely helps the bottom line.

Finance: draft 13-week cash view by Friday.

Richmond Mutual Bancorporation, Inc. (RMBI) - Canvas Business Model: Cost Structure

You're looking at the core costs driving Richmond Mutual Bancorporation, Inc.'s operations as of late 2025. The structure is what you'd expect for a community bank, heavily weighted toward the cost of funding its balance sheet, plus the overhead to run the branches and systems.

The largest component is definitely the interest expense, which is the cost of the money Richmond Mutual Bancorporation, Inc. uses to fund its lending and investment activities. This is predominantly interest expense on deposits and FHLB borrowings. For the third quarter of 2025, the average rate paid on interest-bearing deposits settled at 3.14%. To give you a sense of the funding mix, as of September 30, 2025, total deposits were $1.1 billion. The cost associated with Federal Home Loan Bank (FHLB) borrowings was also significant; the average rate paid on FHLB borrowings in Q3 2025 was 4.16%. The average balance for FHLB borrowings in that quarter was approximately $265.8 million.

Moving to the non-interest costs, the total for the third quarter of 2025 was reported at $8.1 million. This figure actually represented a slight decrease of 0.3% compared to the second quarter of 2025, showing some expense discipline during the period.

Personnel costs are a major driver within that noninterest expense, covering the staff managing the branch network and corporate functions. While a precise Q3 2025 personnel cost isn't isolated, we know that in Q2 2025, increases were attributed to annual merit increases and higher staffing levels needed to support business growth. For Q3 2025, the detail noted that salaries and benefits were actually down quarter-over-quarter due to lower equity compensation.

Technology and data processing costs are another key area. You should note the impact from the start of the year; Richmond Mutual Bancorporation, Inc. recorded a one-time pre-tax expense of $246,000 in the first quarter of 2025 related to core provider contract negotiations, which reduced diluted EPS by $0.02 for that quarter. This one-time charge was a factor in the Q1 2025 total noninterest expense rising to $8.4 million. By Q2 2025, other expenses specifically decreased from Q1 2025 because of the absence of this one-time charge, as the newly executed agreement was expected to yield long-term cost savings.

Here's a snapshot comparing key cost drivers from the first half of 2025 and the latest Q3 2025 data points we have:

Cost Category/Metric	Period	Amount/Rate
Total Noninterest Expense	Q3 2025	$8.1 million
Total Noninterest Expense	Q1 2025	$8.4 million
One-Time Core Provider Expense (Pre-tax)	Q1 2025	$246,000
Interest Expense on Deposits (QoQ Change)	Q1 2025 vs Q4 2024	Decreased $508,000 (or 6.1%) to $7.8 million
Average Rate Paid on Interest-Bearing Deposits	Q3 2025	3.14%
Interest Expense on FHLB Borrowings (QoQ Change)	Q2 2025 vs Q1 2025	Increased $9,000 (or 0.3%) to $2.8 million
Average Rate Paid on FHLB Borrowings	Q3 2025	4.16%

You can see the interest expense on deposits was lower in Q1 2025 than in Q4 2024, but the average rate paid in Q3 2025 was still above the Q1 2025 rate of 3.17%.

• Personnel costs are a variable within the total noninterest expense, influenced by merit increases and staffing needs.
• Technology costs saw a one-off hit in Q1 2025 from the $246,000 core provider negotiation expense.
• Interest expense on deposits is sensitive to the average balance, which decreased by $13.2 million from Q4 2024 to Q1 2025.
• FHLB borrowing costs are sensitive to both balance and rate; the average balance decreased from $274.7 million in Q1 2025 to $262.1 million in Q2 2025.

Finance: draft 13-week cash view by Friday.

Richmond Mutual Bancorporation, Inc. (RMBI) - Canvas Business Model: Revenue Streams

You're looking at the core ways Richmond Mutual Bancorporation, Inc. (RMBI) brings in money, which, as you can see from the Q3 2025 numbers, is still heavily weighted toward traditional banking activities. The primary engine is the spread between what they earn on assets and what they pay for liabilities.

Net Interest Income (NII) is the big story here, showing strong performance driven by an improved net interest margin (NIM) of 3.07% for the third quarter of 2025. This NIM is up from 2.93% in the preceding quarter and 2.60% a year earlier. This favorable repricing environment really helped the bottom line.

The key components of the interest-earning side of the equation for the quarter ended September 30, 2025, look like this:

Revenue Stream Component	Q3 2025 Amount (Millions USD)	Comparison Note
Net Interest Income (NII)	$11.3	Up 5.0% Quarter-over-Quarter (QoQ)
Interest Income on Loans and Leases	$19.7	Average yield on loans/leases was 6.63%
Total Interest Income	$21.8	Up 7.7% Year-over-Year (YoY)

The interest income generated specifically from the loan and lease portfolio hit $19.7 million for the third quarter of 2025. That figure reflects a 2.6% increase from the second quarter of 2025, thanks to a higher average yield earned on those assets.

Beyond the core lending business, non-interest income contributes, though it remains a smaller piece of the total revenue pie. For Q3 2025, total noninterest income was reported at $1.3 million, which was a 20.2% increase compared to the previous quarter. This revenue stream is made up of several smaller sources, including the fees you mentioned.

Here's a breakdown of the non-interest income elements we can confirm for the period:

• Wealth management income was a key driver, contributing to 'Other income' increasing to $404,000.
• Loan and lease servicing fees saw a notable increase of $42,000, representing a 34.3% jump.
• Service charges on deposit accounts are a component, but the specific Q3 2025 dollar amount isn't explicitly broken out in the latest release summary.

Regarding dividends from the investment portfolio and bank subsidiary activities, the latest reports detail the cash dividend paid to shareholders, which was declared at $0.15 per share on November 19, 2025. The specific revenue line item for dividends received by Richmond Mutual Bancorporation, Inc. from its investments for Q3 2025 is not explicitly itemized in the provided financial highlights, so we focus on the reported income figures.