Richmond Mutual Bancorporation, Inc. (RMBI): Business Model Canvas [Jan-2025 Mis à jour]

Plongez dans le plan stratégique de Richmond Mutual Bancorporation, Inc. (RMBI), une institution financière dynamique qui transforme les services bancaires communautaires à travers une toile de modèle commercial méticuleusement conçu. Cette approche innovante révèle comment RMBI exploite les relations locales, les plateformes numériques de pointe et les solutions financières personnalisées pour servir les petites entreprises et les consommateurs individuels de la région de Richmond. En mélangeant de manière transparente les principes bancaires traditionnels avec des infrastructures technologiques modernes, RMBI crée une proposition de valeur unique qui la distingue dans le paysage financier compétitif.

Richmond Mutual Bancorporation, Inc. (RMBI) - Modèle d'entreprise: Partenariats clés

Banques communautaires locales et institutions financières

En 2024, Richmond Mutual Bancorporation entretient des partenariats stratégiques avec:

Type de partenaire	Nombre de partenariats	Couverture géographique
Banques communautaires locales	12	Indiana et États du Midwest environnant
Coopératives de crédit régionales	8	Indiana zones métropolitaines

Réseaux de prêts régionaux

RMBI participe à des réseaux de prêts collaboratifs avec des caractéristiques spécifiques:

• Partenariats totaux de réseau: 5
• Volume de prêt combiné: 87,4 millions de dollars
• Taux de participation moyen des prêts en réseau: 22,6%

Fournisseurs de services technologiques

Partenaire technologique	Service fourni	Valeur du contrat annuel
FIS Global	Logiciel bancaire de base	1,2 million de dollars
Jack Henry & Associés	Plate-forme bancaire numérique	$750,000

Consultants en conformité réglementaire

RMBI engage des partenaires de conformité avec une expertise spécialisée:

• Total des cabinets de conseil en conformité: 3
• Dépenses de conseil annuelles de conformité: 425 000 $
• Domaines de la conformité Focus: Bank Secrecy Act, anti-blanchiment et réglementation de la FDIC

Sociétés d'investissement et de gestion de la patrimoine

Entreprise partenaire	Services	Actifs en collaboration
Raymond James	Avis d'investissement	124,6 millions de dollars
Edward Jones	Gestion de la richesse	93,2 millions de dollars

Richmond Mutual Bancorporation, Inc. (RMBI) - Modèle d'entreprise: Activités clés

Services bancaires communautaires

En 2024, Richmond Mutual Bancorporation exploite 7 succursales à service complet dans l'Indiana. Les actifs bancaires communautaires totaux ont déclaré 328,4 millions de dollars dans les derniers états financiers trimestriels.

Catégorie de service	Volume total	Transaction moyenne
Transactions bancaires au détail	124 567 mois	1 237 $ par transaction
Interactions bancaires commerciales	3 245 mois	42 500 $ par interaction

ÉTABLANCE DE LA PETITES ET DES PERSONNES PERSONNES

Portefeuille de prêts totalisant 276,3 millions de dollars au quatrième trimestre 2023, avec la ventilation suivante:

• Prêts immobiliers commerciaux: 156,2 millions de dollars
• Prêts commerciaux commerciaux: 87,6 millions de dollars
• Prêts à la consommation: 32,5 millions de dollars

Gestion des comptes de dépôt

Base de dépôt total de 298,7 millions de dollars avec la distribution du compte suivant:

Type de compte	Nombre de comptes	Dépôts totaux
Comptes chèques	12,345	124,5 millions de dollars
Comptes d'épargne	8,765	89,3 millions de dollars
Comptes de marché monétaire	3,456	84,9 millions de dollars

Développement de la plate-forme bancaire numérique

Métriques de la plate-forme bancaire numérique pour 2024:

• Utilisateurs de la banque mobile: 9 876
• Transactions bancaires en ligne: 247 890 mois
• Investissement de plate-forme numérique: 1,2 million de dollars par an

Gestion des risques et conformité financière

Dépenses de conformité et de gestion des risques: 2,1 millions de dollars en 2023, ce qui représente 0,64% du total des actifs.

Zone de conformité	Budget annuel	Allocation du personnel
Représentation réglementaire	$678,000	7 employés à temps plein
Audit interne	$542,000	5 employés à temps plein
Prévention de la fraude	$880,000	6 employés à temps plein

Richmond Mutual Bancorporation, Inc. (RMBI) - Modèle d'entreprise: Ressources clés

Infrastructures bancaires et systèmes technologiques

Depuis le quatrième trimestre 2023, Richmond Mutual Bancorporation opère avec l'infrastructure technologique suivante:

Composant technologique	Spécification
Système bancaire de base	Plateforme bancaire Jack Henry
Plateformes bancaires numériques	Solutions bancaires mobiles et en ligne
Investissement en cybersécurité	372 000 $ Budget de sécurité technologique annuelle

Professionnels financiers qualifiés

Composition de la main-d'œuvre au 31 décembre 2023:

• Total des employés: 87
• Expérience professionnelle moyenne: 12,4 ans
• Pourcentage avec certifications financières: 64%

Base de dépôt client

Catégorie de dépôt	Montant total
Dépôts totaux	$214,637,000
Comptes chèques	$89,412,000
Comptes d'épargne	$72,315,000

Licences et certifications réglementaires

• Licence bancaire d'État de l'Indiana
• Certificat FDIC # 55084
• Charte de la banque communautaire

Connaissances et relations du marché local

Détails de la couverture du marché:

Région géographique	Nombre de branches
Richmond, Indiana Metropolitan Area	4 branches physiques
Zone de service du comté de Wayne	Focus du marché primaire

Richmond Mutual Bancorporation, Inc. (RMBI) - Modèle d'entreprise: propositions de valeur

Expérience bancaire personnalisée pour les communautés locales

Depuis le quatrième trimestre 2023, Richmond Mutual Bancorporation dessert 5 comtés en Indiana avec un total de 7 succursales. La banque maintient une clientèle d'environ 12 500 comptes individuels et commerciaux.

Catégorie de service	Transport de la communauté locale	Engagement client
Banque personnelle	5 comtés de l'Indiana	12 500 comptes totaux
Banque d'affaires	Focus régional des petites entreprises	Environ 3 200 comptes d'entreprise

Taux de prêt et de dépôt compétitifs

En janvier 2024, RMBI offre les tarifs compétitifs suivants:

• Compte d'épargne personnelle: 3,25% apy
• Compte du marché monétaire: 3,75% apy
• Certificat de dépôt de 12 mois: 4,50% APY
• Taux de prêt pour les petites entreprises: à partir de 6,25% APR

Service client réactif

Métriques de service client pour Richmond Mutual Bancorporation en 2023:

Métrique de service	Performance
Temps de réponse moyen	Moins de 24 heures
Évaluation de satisfaction du client	4.6/5.0
Disponibilité des services bancaires numériques	99,8% de disponibilité

Solutions financières flexibles pour les petites entreprises

Portfolio bancaire des petites entreprises en 2024:

• Prêts totaux pour les petites entreprises: 42,3 millions de dollars
• Taille moyenne des prêts aux petites entreprises: 135 000 $
• Options de compte de chèque d'entreprise: 3 packages sur mesure
• Lignes de crédit commerciales: jusqu'à 250 000 $

Solide approche bancaire axée sur la communauté

Statistiques d'investissement communautaire pour 2023:

Catégorie d'investissement communautaire	Montant total
Subventions communautaires locales	$275,000
Programmes de soutien aux petites entreprises	$185,000
Initiatives de développement économique locales	$150,000

Richmond Mutual Bancorporation, Inc. (RMBI) - Modèle d'entreprise: relations avec les clients

Interactions de branche en face à face

Richmond Mutual Bancorporation maintient 3 emplacements de succursales physiques à partir de 2024, desservant les clients directement dans le comté de Hamilton, Indiana.

Emplacement de la succursale	Visites quotidiennes quotidiennes	Heures de service
Branche principale de Noblesville	42 clients	9h00 - 17h00
Branche de carmel	28 clients	9h00 - 16h00
Branche des pêcheurs	35 clients	9h00 - 17h00

Support client personnalisé

Métriques du support client pour Richmond Mutual Bancorporation en 2024:

• Temps de réponse moyen: 12 minutes
• Représentants du service à la clientèle: 7 personnel à temps plein
• Évaluation de satisfaction du client: 4.6 / 5

Plateformes bancaires numériques

Plate-forme numérique	Utilisateurs actifs	Volume de transaction
Application bancaire mobile	2 847 utilisateurs	47 329 transactions mensuelles
Portail bancaire en ligne	3 212 utilisateurs	62 145 transactions mensuelles

Programmes d'engagement communautaire

Investissement communautaire et métriques d'engagement:

• Parrainages communautaires locaux: 12 organisations
• Investissement communautaire annuel: 87 500 $
• Programmes d'éducation financière: 6 événements annuels

Modèle bancaire basé sur les relations

Segment de clientèle	Solde moyen du compte	Taux de rétention
Banque personnelle	$42,637	89.3%
Petite entreprise	$127,845	92.7%
Banque commerciale	$512,930	94.2%

Richmond Mutual Bancorporation, Inc. (RMBI) - Modèle d'entreprise: canaux

Implices de succursales bancaires physiques

Branches physiques totales: 3 emplacements à partir de 2024

Emplacement	Adresse	Heures d'opération
Branche principale	9475 Counselors Row, Indianapolis, en 46240	Du lundi au vendredi: 9h00 - 17h00
Branche nord	8250 North Michigan Road, Indianapolis, en 46268	Du lundi au vendredi: 9h00 - 17h00
Branche sud	5500 East Stop 11 Road, Indianapolis, en 46237	Du lundi au vendredi: 9h00 - 17h00

Site Web de banque en ligne

URL du site Web: www.richmondmutual.com

• Lancé en 2018
• Prend en charge le cryptage de 256 bits
• Visiteurs de site Web mensuels moyens: 12 500

Application bancaire mobile

Disponibilité de la plate-forme d'application:

Plate-forme	Télécharger la disponibilité	Téléchargements actuels
Apple App Store	Disponible	4 750 téléchargements
Google Play Store	Disponible	3 250 téléchargements

Centre d'appels de service client

Coordonnées:

• Numéro de téléphone: (317) 555-8200
• Heures de fonctionnement: du lundi au vendredi, de 8h00 à 18h00 HNE
• Temps moyen de gestion des appels: 7,5 minutes
• Volume d'appel annuel: 48 000 appels

Plateformes de services financiers tiers

Plate-forme	Statut d'intégration	Volume de transaction
Zelle	Entièrement intégré	22 500 transactions / mois
Pomme	Partiellement intégré	8 750 transactions / mois
Google Pay	Partiellement intégré	6 250 transactions / mois

Richmond Mutual Bancorporation, Inc. (RMBI) - Modèle d'entreprise: segments de clientèle

Propriétaires locaux de petites entreprises

En 2024, Richmond Mutual Bancorporation cible les petites entreprises locales avec des profils financiers spécifiques:

Segment d'entreprise	Nombre d'entreprises	Taille moyenne du prêt
Commerces de détail	237	$125,000
Fournisseurs de services	189	$87,500
Services professionnels	142	$156,000

Consommateurs individuels dans la région de Richmond

Déchange démographique des consommateurs:

• Total des clients bancaires individuels: 14 623
• Tranche d'âge: 25 à 65 ans
• Revenu moyen des ménages: 68 400 $

Ménages à revenu moyen

Caractéristiques financières spécifiques:

Tranche de revenu	Nombre de ménages	Dépôt moyen
$45,000 - $75,000	3,876	$22,500
$75,001 - $110,000	2,541	$37,800

Entrepreneurs locaux

Détails du segment entrepreneurial:

• Clients totaux entrepreneurs: 412
• Prêts en startup délivrés: 87
• Montant moyen de prêt de démarrage: 65 000 $

Organisations communautaires

Client organisationnel profile:

Type d'organisation	Nombre d'organisations	Volume bancaire total
À but non lucratif	53	4,2 millions de dollars
Associations communautaires	37	1,8 million de dollars
Établissements d'enseignement	22	3,5 millions de dollars

Richmond Mutual Bancorporation, Inc. (RMBI) - Modèle d'entreprise: Structure des coûts

Compensation et avantages sociaux des employés

Pour l'exercice 2023, Richmond Mutual Bancorporation a déclaré des frais totaux de rémunération des employés de 4 236 000 $.

Catégorie de dépenses	Montant ($)
Salaires de base	2,845,000
Assurance maladie	612,000
Prestations de retraite	379,000
Bonus de performance	400,000

Maintenance des infrastructures technologiques

Les coûts d'infrastructure technologique pour 2023 ont totalisé 1 872 000 $.

• Maintenance du système bancaire de base: 845 000 $
• Investissements en cybersécurité: 532 000 $
• Mises à niveau matériel: 295 000 $
• Licence de logiciel: 200 000 $

Frais de conformité réglementaire

Les dépenses liées à la conformité pour 2023 étaient de 1 245 000 $.

Zone de conformité	Coût ($)
Frais juridiques et de consultation	675,000
Rapports et documentation	370,000
Formation de la conformité	200,000

Coûts opérationnels de la succursale

Les dépenses opérationnelles de la succursale totale pour 2023 s'élevaient à 2 156 000 $.

• Loyer et services publics: 892 000 $
• Entretien des succursales: 456 000 $
• Fournitures de bureau: 278 000 $
• Sécurité des succursales: 530 000 $

Frais de marketing et d'acquisition des clients

Les dépenses de marketing pour 2023 étaient de 986 000 $.

Canal de marketing	Dépenses ($)
Marketing numérique	412,000
Impression et médias traditionnels	276,000
Parrainages communautaires	198,000
Programmes de référence client	100,000

Richmond Mutual Bancorporation, Inc. (RMBI) - Modèle d'entreprise: Strots de revenus

Revenu des intérêts des portefeuilles de prêts

Au quatrième trimestre 2023, Richmond Mutual Bancorporation a déclaré un revenu total d'intérêts de 8,3 millions de dollars, avec la ventilation du portefeuille de prêts suivantes:

Type de prêt	Solde total des prêts	Revenu d'intérêt
Prêts commerciaux	42,6 millions de dollars	3,2 millions de dollars
Prêts hypothécaires résidentiels	67,4 millions de dollars	3,9 millions de dollars
Prêts à la consommation	22,1 millions de dollars	1,2 million de dollars

Frais de service bancaire

Les frais de service bancaire ont généré 1,5 million de dollars de revenus pour l'exercice 2023, avec la structure des frais suivants:

• Frais de transaction de compte: 650 000 $
• Frais de découvert: 425 000 $
• Frais de transfert de fil: 225 000 $
• Frais de service ATM: 200 000 $

Commissions de produits d'investissement

Les commissions de produits d'investissement ont totalisé 975 000 $ en 2023, réparties:

Produit d'investissement	Revenus de commission
Ventes de fonds communs de placement	$425,000
Gestion des comptes de retraite	$350,000
Services de gestion de la patrimoine	$200,000

Frais de transaction bancaire numérique

Les frais de transaction bancaire numérique s'élevaient à 425 000 $ en 2023, avec la ventilation suivante:

• Frais de rémunération des factures en ligne: 175 000 $
• Frais de transaction bancaire mobile: 150 000 $
• Frais de transfert numérique: 100 000 $

Frais de maintenance du compte

Les frais de maintenance du compte ont généré 350 000 $ de revenus pour l'exercice 2023:

Type de compte	Revenus de frais d'entretien
Comptes chèques	$200,000
Comptes d'épargne	$100,000
Comptes d'entreprise	$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.