RICHMOND MUTUAL BANCORPORATION, INC. ANNOUNCES 2025 FIRST QUARTER FINANCIAL RESULTS
Richmond Mutual Bancorporation (NASDAQ: RMBI) reported Q1 2025 net income of $2.0 million, or $0.20 diluted EPS, down from $2.5 million ($0.24 EPS) in Q4 2024 and $2.4 million ($0.23 EPS) in Q1 2024.
Key financial metrics include:
- Assets remained stable at $1.5 billion
- Net interest income increased 4.0% to $10.3 million
- Net interest margin improved to 2.79%
- Provision for credit losses increased to $731,000
- Nonperforming loans rose slightly to 0.59% of total loans
The company recorded a one-time pre-tax expense of $246,000 related to core provider contract negotiations, reducing EPS by $0.02. During Q1 2025, RMBI repurchased 324,696 shares at an average price of $13.04 per share.
Richmond Mutual Bancorporation (NASDAQ: RMBI) ha riportato un utile netto di 2,0 milioni di dollari nel primo trimestre 2025, pari a un EPS diluito di 0,20 dollari, in calo rispetto ai 2,5 milioni di dollari (EPS di 0,24 dollari) del quarto trimestre 2024 e ai 2,4 milioni di dollari (EPS di 0,23 dollari) del primo trimestre 2024.
Le principali metriche finanziarie includono:
- Gli attivi sono rimasti stabili a 1,5 miliardi di dollari
- Il reddito netto da interessi è aumentato del 4,0% raggiungendo 10,3 milioni di dollari
- Il margine d’interesse netto è migliorato al 2,79%
- La copertura per perdite su crediti è salita a 731.000 dollari
- I prestiti in sofferenza sono aumentati leggermente allo 0,59% del totale prestiti
L’azienda ha registrato una spesa una tantum ante imposte di 246.000 dollari legata alle trattative per il contratto con il fornitore principale, riducendo l’EPS di 0,02 dollari. Nel primo trimestre 2025, RMBI ha riacquistato 324.696 azioni a un prezzo medio di 13,04 dollari per azione.
Richmond Mutual Bancorporation (NASDAQ: RMBI) reportó un ingreso neto de 2,0 millones de dólares en el primer trimestre de 2025, o un BPA diluido de 0,20 dólares, disminuyendo desde 2,5 millones de dólares (BPA de 0,24) en el cuarto trimestre de 2024 y 2,4 millones de dólares (BPA de 0,23) en el primer trimestre de 2024.
Las métricas financieras clave incluyen:
- Los activos se mantuvieron estables en 1,5 mil millones de dólares
- El ingreso neto por intereses aumentó un 4,0% hasta 10,3 millones de dólares
- El margen neto de interés mejoró a 2,79%
- La provisión para pérdidas crediticias aumentó a 731.000 dólares
- Los préstamos morosos aumentaron ligeramente al 0,59% del total de préstamos
La compañía registró un gasto único antes de impuestos de 246.000 dólares relacionado con las negociaciones del contrato con el proveedor principal, reduciendo el BPA en 0,02 dólares. Durante el primer trimestre de 2025, RMBI recompró 324.696 acciones a un precio promedio de 13,04 dólares por acción.
Richmond Mutual Bancorporation (NASDAQ: RMBI)는 2025년 1분기 순이익이 200만 달러, 희석 주당순이익(EPS) 0.20달러를 기록했으며, 이는 2024년 4분기 250만 달러(주당순이익 0.24달러)와 2024년 1분기 240만 달러(주당순이익 0.23달러)보다 감소한 수치입니다.
주요 재무 지표는 다음과 같습니다:
- 자산은 15억 달러로 안정적 유지
- 순이자수익은 4.0% 증가한 1,030만 달러
- 순이자마진은 2.79%로 개선
- 대손충당금은 73만 1,000달러로 증가
- 부실대출 비율은 전체 대출의 0.59%로 소폭 상승
회사는 핵심 공급업체 계약 협상과 관련하여 24만 6,000달러의 일회성 세전 비용을 기록했으며, 이로 인해 주당순이익이 0.02달러 감소했습니다. 2025년 1분기 동안 RMBI는 주당 평균 13.04달러에 324,696주를 자사주로 매입했습니다.
Richmond Mutual Bancorporation (NASDAQ : RMBI) a annoncé un bénéfice net de 2,0 millions de dollars au premier trimestre 2025, soit un BPA dilué de 0,20 dollar, en baisse par rapport à 2,5 millions de dollars (BPA de 0,24 dollar) au quatrième trimestre 2024 et 2,4 millions de dollars (BPA de 0,23 dollar) au premier trimestre 2024.
Les principaux indicateurs financiers sont les suivants :
- Les actifs sont restés stables à 1,5 milliard de dollars
- Le produit net d’intérêts a augmenté de 4,0 % pour atteindre 10,3 millions de dollars
- La marge nette d’intérêts s’est améliorée à 2,79 %
- La provision pour pertes sur créances a augmenté à 731 000 dollars
- Les prêts non performants ont légèrement augmenté pour représenter 0,59 % du total des prêts
La société a enregistré une charge exceptionnelle avant impôts de 246 000 dollars liée aux négociations du contrat avec le fournisseur principal, réduisant le BPA de 0,02 dollar. Au cours du premier trimestre 2025, RMBI a racheté 324 696 actions à un prix moyen de 13,04 dollars par action.
Richmond Mutual Bancorporation (NASDAQ: RMBI) meldete für das erste Quartal 2025 einen Nettogewinn von 2,0 Millionen US-Dollar bzw. ein verwässertes Ergebnis je Aktie (EPS) von 0,20 US-Dollar, was einen Rückgang gegenüber 2,5 Millionen US-Dollar (EPS 0,24) im vierten Quartal 2024 und 2,4 Millionen US-Dollar (EPS 0,23) im ersten Quartal 2024 bedeutet.
Wichtige Finanzkennzahlen umfassen:
- Die Vermögenswerte blieben stabil bei 1,5 Milliarden US-Dollar
- Der Nettozinsertrag stieg um 4,0 % auf 10,3 Millionen US-Dollar
- Die Nettozinsmarge verbesserte sich auf 2,79 %
- Die Rückstellung für Kreditausfälle stieg auf 731.000 US-Dollar
- Die notleidenden Kredite stiegen leicht auf 0,59 % der Gesamtkredite
Das Unternehmen verbuchte eine einmalige Vorsteueraufwendung von 246.000 US-Dollar im Zusammenhang mit Vertragsverhandlungen mit dem Kernanbieter, was das EPS um 0,02 US-Dollar verringerte. Im ersten Quartal 2025 kaufte RMBI 324.696 Aktien zu einem durchschnittlichen Preis von 13,04 US-Dollar pro Aktie zurück.
- Net interest income increased 4.0% quarter-over-quarter to $10.3 million
- Net interest margin improved to 2.79% from 2.70% in previous quarter
- Strong capital position with Tier 1 capital ratio of 10.68%
- Active share repurchase program with 324,696 shares bought back
- Net income declined to $2.0 million from $2.5 million in previous quarter
- Provision for credit losses increased significantly to $731,000
- Nonperforming loans increased to 0.59% of total loans
- One-time expense of $246,000 impacted EPS by $0.02
Insights
Richmond Mutual reported lower Q1 earnings due to higher loan loss provisions, despite improved interest margins and continued share repurchases.
Richmond Mutual Bancorporation's Q1 2025 results reveal a 16.7% year-over-year decline in net income to
The elevated provision was attributed specifically to growth in commercial loan portfolios, which carry higher estimated loss rates, rather than broad credit deterioration. However, nonperforming loans did tick up slightly to
A notable positive development was the improvement in net interest margin to
The quarter was also impacted by a one-time
A concerning trend emerged in deposit composition, with noninterest-bearing deposits decreasing to
The bank's capital position remains strong with a Tier 1 capital ratio of
Management's cautious outlook for 2025, acknowledging "economic bumps" ahead, suggests a conservative approach to navigating an uncertain environment while maintaining focus on balance sheet strength and risk management.
President's Comments
Garry Kleer, Chairman, President, and Chief Executive Officer, commented, "The first quarter of 2025 saw improvement in our net interest margin compared to the prior quarters. Credit quality continues to remain strong. We expect the economic road in 2025 to have its share of bumps, and therefore we are approaching it with the same steady, careful mindset that has served us well over the years. We are focused on keeping our balance sheet strong, managing risk, and staying close to our customers and communities. While challenges remain, we are confident that our disciplined approach will continue to create long-term value for our shareholders."
First Quarter Performance Highlights:
- Assets totaled
$1.5 billion - Loans and leases, net of allowance for credit losses, totaled
$1.2 billion - Nonperforming loans and leases totaled
$7.0 million 0.59% of total loans and leases, at March 31, 2025, compared to$6.8 million 0.58% of total loans and leases, at December 31, 2024. - The allowance for credit losses totaled
$16.1 million 1.35% of total loans and leases outstanding, at March 31, 2025, compared to$15.8 million 1.34% of total loans and leases outstanding, at December 31, 2024. - A provision for credit losses of
$731,000 $196,000 $183,000 - The Company recorded a one-time pre-tax expense of
$246,000 $0.02 - Deposits totaled
$1.1 billion $103.4 million 9.3% of total deposits, compared to$110.1 million 10.1% of total deposits at December 31, 2024. - Stockholders' equity totaled
$130.9 million $132.9 million 8.60% at March 31, 2025. - Book value per share and tangible book value per share were
$12.48 $12.29 - Net interest income increased
$392,000 4.0% , to$10.3 million $9.9 million $425,000 4.3% , from$9.8 million - Annualized net interest margin was
2.79% for the current quarter, compared to2.70% in the preceding quarter and2.74% for the comparable quarter in 2024. - The Company repurchased 324,696 shares of common stock at an average price of
$13.04 - The Bank's Tier 1 capital to total assets was
10.68% , well in excess of all regulatory requirements at March 31, 2025.
Income Statement Summary
Net interest income before the provision for credit losses increased
Interest income increased
Interest income on loans and leases increased
Interest income on investment securities, excluding FHLB stock, increased
Interest income on cash and cash equivalents decreased
Interest expense decreased
Interest expense on FHLB borrowings increased
Annualized net interest margin increased to
A provision for credit losses of
Noninterest income decreased
Total noninterest expense increased
Income tax expense decreased
Balance Sheet Summary
Total assets increased
The increase in loans and leases was attributable to an increase in multi-family, commercial mortgage, and commercial and industrial loans of
Nonperforming loans and leases, consisting of nonaccrual loans and leases and accruing loans and leases more than 90 days past due, totaled
The allowance for credit losses on loans and leases increased
Management regularly analyzes conditions within its geographic markets and evaluates its loan and lease portfolio. The Company evaluated its exposure to potential credit losses as of March 31, 2025, which included consideration of a potential recession due to inflation, stock market volatility, and overall geopolitical tensions. Credit metrics are being reviewed and stress testing is being performed on the loan portfolio on an ongoing basis.
Investment securities decreased
Total deposits increased
As of March 31, 2025, approximately
Stockholders' equity totaled
During the quarter ended March 31, 2025, the Company repurchased a total of 324,696 shares of Company common stock at an average price of
About Richmond Mutual Bancorporation, Inc.
Richmond Mutual Bancorporation, Inc., headquartered in
FORWARD-LOOKING STATEMENTS:
This document and other filings by the Company with the Securities and Exchange Commission (the "SEC"), as well as press releases or other public or stockholder communications released by the Company, may contain forward-looking statements, including, but not limited to, (i) statements regarding the financial condition, results of operations, and business of the Company, (ii) statements about the Company's plans, objectives, expectations, and intentions and other statements that are not historical facts, and (iii) other statements identified by the words or phrases "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," "intends," or similar expressions that are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current beliefs and expectations of the Company's management and are inherently subject to significant business, economic, and competitive uncertainties and contingencies, many of which are beyond the Company's control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. When considering forward-looking statements, keep in mind these risks and uncertainties. Undue reliance should not be placed on any forward-looking statement, which speaks only as of the date made.
The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: adverse economic conditions in our local market areas or other markets where we have lending relationships; employment levels, labor shortages, and the effects of inflation, a recession, or slowed economic growth; changes in the interest rate environment, including the increases and decreases in the Federal Reserve benchmark rate and duration at which such interest rate levels are maintained, which could adversely affect our revenues and expenses, the value of assets and obligations, and the availability and cost of capital and liquidity; the impact of inflation and the current and future monetary policies of the Federal Reserve in response thereto; the effects of any federal government shutdown; the impact of bank failures or adverse developments at other banks and related negative press about the banking industry in general on investor and depositor sentiment; legislative changes; changes in policies by regulatory agencies; the risks of lending and investing activities, including changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the allowance for credit losses on loans and leases; the Company's ability to access cost-effective funding, including maintaining the confidence of depositors; fluctuations in real estate values and both residential and commercial real estate market conditions; competitive pressures among depository institutions, including repricing and competitors' pricing initiatives, and their impact on our market position, loan, and deposit products; changes in management's business strategies, including expectations regarding key growth initiatives and strategic priorities; changes in the regulatory and tax environments in which the Company operates; disruptions, security breaches, or other adverse events, failures or interruptions in, or attacks on, our information technology systems or on the third-party vendors who perform several of our critical processing functions; the potential for new or increased tariffs, trade restrictions, or geopolitical tensions that could affect economic activity or specific industry sectors; the effects of climate change, severe weather events, natural disasters, pandemics, epidemics and other public health crises, acts of war or terrorism, civil unrest, and other external events on our business; and other factors described in the Company's latest Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and other reports filed with or furnished to the Securities and Exchange Commission - that are available on our website at www.firstbankrichmond.com and on the SEC's website at www.sec.gov.
The factors listed above could materially affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. The Company does not undertake - and specifically declines any obligation - to publicly release the result of any revisions which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
Financial Highlights (unaudited)
Three Months Ended | |||||
SELECTED OPERATIONS DATA: | March 31, | December 31, | March 31, | ||
(In thousands, except for per share amounts) | |||||
Interest income | $ 20,868 | $ 20,670 | $ 19,510 | ||
Interest expense | 10,610 | 10,804 | 9,677 | ||
Net interest income | 10,258 | 9,866 | 9,833 | ||
Provision for credit losses | 731 | 196 | 183 | ||
Net interest income after provision for credit losses | 9,527 | 9,670 | 9,650 | ||
Noninterest income | 1,162 | 1,192 | 1,129 | ||
Noninterest expense | 8,373 | 7,926 | 8,058 | ||
Income before income tax expense | 2,316 | 2,936 | 2,721 | ||
Income tax provision | 348 | 460 | 352 | ||
Net income | $ 1,968 | $ 2,476 | $ 2,369 | ||
Shares outstanding | 10,490 | 10,815 | 11,116 | ||
Average shares outstanding: | |||||
Basic | 9,841 | 10,009 | 10,160 | ||
Diluted | 10,084 | 10,255 | 10,230 | ||
Earnings per share: | |||||
Basic | $ 0.20 | $ 0.25 | $ 0.23 | ||
Diluted | $ 0.20 | $ 0.24 | $ 0.23 | ||
SELECTED FINANCIAL CONDITION DATA: | March 31, | December 31, | September 30, | June 30, | March 31, | ||||
(In thousands, except for per share amounts) | |||||||||
Total assets | $ 1,522,792 | $ 1,504,875 | $ 1,492,550 | $ 1,495,141 | $ 1,487,671 | ||||
Cash and cash equivalents | 27,032 | 21,757 | 19,570 | 19,019 | 20,290 | ||||
Interest-bearing time deposits | 300 | 300 | 300 | — | — | ||||
Investment securities | 259,033 | 261,690 | 271,304 | 271,997 | 281,006 | ||||
Loans and leases, net of allowance for credit losses | 1,175,833 | 1,158,879 | 1,140,969 | 1,140,579 | 1,123,194 | ||||
Loans held for sale | 388 | 1,093 | 220 | 370 | 85 | ||||
Premises and equipment, net | 12,779 | 12,922 | 13,018 | 13,115 | 13,212 | ||||
Federal Home Loan Bank stock | 13,907 | 13,907 | 13,907 | 13,907 | 13,907 | ||||
Other assets | 33,520 | 34,327 | 33,262 | 36,154 | 35,977 | ||||
Deposits | 1,105,662 | 1,093,940 | 1,089,094 | 1,100,085 | 1,069,642 | ||||
Borrowings | 274,000 | 265,000 | 252,000 | 252,000 | 273,000 | ||||
Total stockholder's equity | 130,932 | 132,872 | 140,027 | 131,110 | 132,391 | ||||
Book value (GAAP) | $ 130,932 | $ 132,872 | $ 140,027 | $ 131,110 | $ 132,391 | ||||
Tangible book value (non-GAAP) | 130,932 | 132,872 | 140,027 | 131,110 | 132,391 | ||||
Book value per share (GAAP) | 12.48 | 12.29 | 12.79 | 11.90 | 11.91 | ||||
Tangible book value per share (non-GAAP) | 12.48 | 12.29 | 12.79 | 11.90 | 11.91 |
The following table summarizes information relating to our loan and lease portfolio at the dates indicated:
(In thousands) | March 31, | December 31, | September 30, | June 30, | March 31, | ||||
Commercial mortgage | $ 387,516 | $ 371,705 | $ 348,473 | $ 356,250 | $ 338,434 | ||||
Commercial and industrial | 136,524 | 126,367 | 126,591 | 127,160 | 123,661 | ||||
Construction and development | 99,953 | 132,570 | 140,761 | 139,588 | 165,063 | ||||
Multi-family | 211,485 | 185,864 | 183,778 | 174,251 | 153,719 | ||||
Residential mortgage | 172,614 | 172,644 | 172,873 | 175,059 | 171,050 | ||||
Home equity | 18,115 | 16,826 | 15,236 | 13,781 | 12,146 | ||||
Direct financing leases | 146,067 | 148,102 | 147,057 | 148,173 | 152,468 | ||||
Consumer | 20,243 | 21,218 | 22,608 | 22,782 | 23,004 | ||||
Total loans and leases | $ 1,192,517 | $ 1,175,296 | $ 1,157,377 | $ 1,157,044 | $ 1,139,545 |
The following table summarizes information relating to our deposits at the dates indicated:
(In thousands) | March 31, | December 31, | September 30, | June 30, | March 31, | ||||
Noninterest-bearing demand | $ 103,353 | $ 110,106 | $ 98,522 | $ 102,796 | $ 108,805 | ||||
Interest-bearing demand | 142,203 | 135,310 | 136,263 | 144,769 | 153,460 | ||||
Savings and money market | 301,427 | 301,311 | 283,848 | 283,538 | 255,634 | ||||
Non-brokered time deposits | 293,892 | 289,626 | 290,874 | 281,505 | 260,451 | ||||
Brokered time deposits | 264,787 | 257,587 | 279,587 | 287,477 | 291,292 | ||||
Total deposits | $ 1,105,662 | $ 1,093,940 | $ 1,089,094 | $ 1,100,085 | $ 1,069,642 |
Average Balances, Interest and Average Yields/Cost. The following tables set forth for the periods indicated, information regarding average balances of assets and liabilities as well as the total dollar amounts of interest income from average interest-earning assets and interest expense on average interest-bearing liabilities, resultant yields, interest rate spread, net interest margin (otherwise known as net yield on interest-earning assets), and the ratio of average interest-earning assets to average interest-bearing liabilities. Average balances have been calculated using daily balances. Non-accruing loans have been included in the table as loans carrying a zero yield. Loan fees are included in interest income on loans and are not material.
Three Months Ended March 31, | |||||||||||
2025 | 2024 | ||||||||||
Average | Interest Paid | Yield/ Rate | Average | Interest Paid | Yield/ Rate | ||||||
(Dollars in thousands) | |||||||||||
Interest-earning assets: | |||||||||||
Loans and leases receivable | $ 18,774 | 6.36 % | $ 17,251 | 6.13 % | |||||||
Securities | 262,089 | 1,652 | 2.52 % | 284,002 | 1,796 | 2.53 % | |||||
FHLB stock | 13,907 | 311 | 8.95 % | 13,730 | 324 | 9.44 % | |||||
Cash and cash equivalents and other | 14,121 | 131 | 3.71 % | 13,848 | 139 | 4.02 % | |||||
Total interest-earning assets | 1,470,764 | 20,868 | 5.68 % | 1,437,166 | 19,510 | 5.43 % | |||||
Non-earning assets | 40,016 | 42,052 | |||||||||
Total assets | 1,510,780 | 1,479,218 | |||||||||
Interest-bearing liabilities: | |||||||||||
Savings and money market accounts | 304,482 | 1,723 | 2.26 % | 259,198 | 1,379 | 2.13 % | |||||
Interest-bearing checking accounts | 134,461 | 323 | 0.96 % | 148,126 | 382 | 1.03 % | |||||
Certificate accounts | 550,425 | 5,798 | 4.21 % | 537,894 | 5,304 | 3.95 % | |||||
Borrowings | 274,667 | 2,766 | 4.03 % | 277,220 | 2,612 | 3.77 % | |||||
Total interest-bearing liabilities | 1,264,035 | 10,610 | 3.36 % | 1,222,438 | 9,677 | 3.17 % | |||||
Noninterest-bearing demand deposits | 99,236 | 108,577 | |||||||||
Other liabilities | 13,733 | 14,676 | |||||||||
Stockholders' equity | 133,776 | 133,527 | |||||||||
Total liabilities and stockholders' equity | 1,510,780 | 1,479,218 | |||||||||
Net interest income | $ 10,258 | $ 9,833 | |||||||||
Net earning assets | $ 206,729 | $ 214,728 | |||||||||
Net interest rate spread(1) | 2.32 % | 2.26 % | |||||||||
Net interest margin(2) | 2.79 % | 2.74 % | |||||||||
Average interest-earning assets to average interest-bearing liabilities | 116.35 % | 117.57 % | |||||||||
________________________________________________
(1) | Net interest rate spread represents the difference between the weighted average yield earned on interest-earning assets and the weighted average rate paid on interest bearing liabilities. |
(2) | Net interest margin represents net interest income divided by average total interest-earning assets. |
At and for the Three Months Ended | |||||||||
Selected Financial Ratios and Other Data: | March 31, | December 31, | September 30, | June 30, | March 31, | ||||
Performance ratios: | |||||||||
Return on average assets(1) | 0.52 % | 0.66 % | 0.66 % | 0.55 % | 0.64 % | ||||
Return on average equity(1) | 5.89 % | 7.23 % | 7.36 % | 6.42 % | 7.10 % | ||||
Yield on interest-earning assets | 5.68 % | 5.66 % | 5.57 % | 5.53 % | 5.43 % | ||||
Rate paid on interest-bearing liabilities | 3.36 % | 3.47 % | 3.48 % | 3.37 % | 3.17 % | ||||
Average interest rate spread | 2.32 % | 2.19 % | 2.09 % | 2.16 % | 2.26 % | ||||
Net interest margin(1)(2) | 2.79 % | 2.70 % | 2.60 % | 2.64 % | 2.74 % | ||||
Operating expense to average total assets(1) | 2.22 % | 2.11 % | 2.15 % | 2.17 % | 2.18 % | ||||
Efficiency ratio(3) | 73.31 % | 71.68 % | 74.51 % | 75.48 % | 73.51 % | ||||
Average interest-earning assets to average | 116.35 % | 117.25 % | 116.71 % | 116.33 % | 117.57 % | ||||
Asset quality ratios: | |||||||||
Non-performing assets to total assets(4) | 0.46 % | 0.45 % | 0.45 % | 0.52 % | 0.47 % | ||||
Non-performing loans and leases to total gross | 0.59 % | 0.58 % | 0.58 % | 0.67 % | 0.61 % | ||||
Allowance for credit losses to non-performing loans and | 229.90 % | 232.99 % | 235.89 % | 206.30 % | 228.36 % | ||||
Allowance for credit losses to total loans and leases | 1.35 % | 1.34 % | 1.36 % | 1.37 % | 1.39 % | ||||
Net charge-offs to average outstanding loans and | 0.13 % | 0.10 % | 0.15 % | 0.16 % | 0.12 % | ||||
Capital ratios: | |||||||||
Equity to total assets at end of period | 8.60 % | 8.83 % | 9.38 % | 8.77 % | 8.90 % | ||||
Average equity to average assets | 8.85 % | 9.12 % | 8.98 % | 8.58 % | 9.03 % | ||||
Common equity tier 1 capital (to risk weighted | 12.79 % | 12.98 % | 13.10 % | 12.96 % | 12.89 % | ||||
Tier 1 leverage (core) capital (to adjusted | 10.68 % | 10.75 % | 10.73 % | 10.65 % | 10.67 % | ||||
Tier 1 risk-based capital (to risk weighted | 12.79 % | 12.98 % | 13.10 % | 12.96 % | 12.89 % | ||||
Total risk-based capital (to risk weighted | 14.04 % | 14.23 % | 14.35 % | 14.21 % | 14.14 % | ||||
Other data: | |||||||||
Number of full-service offices | 12 | 12 | 12 | 12 | 12 | ||||
Full-time equivalent employees | 171 | 173 | 171 | 182 | 178 | ||||
(1) | Annualized |
(2) | Net interest income divided by average interest-earning assets. |
(3) | Total noninterest expenses as a percentage of net interest income and total noninterest income. |
(4) | Non-performing assets consist of nonaccrual loans and leases, accruing loans and leases more than 90 days past due and foreclosed assets. |
(5) | Non-performing loans and leases consist of nonaccrual loans and leases and accruing loans and leases more than 90 days past due. |
(6) | Capital ratios are for First Bank Richmond. |
View original content:https://www.prnewswire.com/news-releases/richmond-mutual-bancorporation-inc-announces-2025-first-quarter-financial-results-302437807.html
SOURCE Richmond Mutual Bancorporation, Inc.
FAQ
What were RMBI's Q1 2025 earnings per share compared to previous quarters?
How did RMBI's provision for credit losses change in Q1 2025?
What was RMBI's share repurchase activity in Q1 2025?
How did RMBI's net interest margin perform in Q1 2025?
