Richmond Mutual Bancorporation, Inc. Announces the Death of its Director W. Ray (Steve) Stevens, III

Rhea-AI Summary

Richmond Mutual Bancorporation (NASDAQ: RMBI) announced the unexpected passing of director W. Ray (Steve) Stevens, III, on November 25, 2020. Mr. Stevens had over 25 years of experience as a director at First Bank Richmond and contributed significantly to the company's recent transition to a public entity. Garry Kleer, CEO, expressed deep sorrow over the loss, emphasizing Stevens' integral role in the bank's accomplishments. The company operates multiple financial service locations across Indiana and Ohio.

Positive

• Stevens' long tenure of over 25 years on the board demonstrates stability in governance.
• Key contributions to the company's public reorganization and stock offering.

Negative

• The loss of a key director may impact strategic decision-making.

RICHMOND, Ind., Nov. 30, 2020 /PRNewswire/ -- Richmond Mutual Bancorporation, Inc. (the "Company") (NASDAQ: RMBI), parent company to First Bank Richmond, today announced the passing of W. Ray (Steve) Stevens, III.  Mr. Stevens passed away unexpectedly on November 25, 2020 in his home. Mr. Stevens served as a director of First Bank Richmond for over 25 years and as a director of the Company since its formation in 2019. He also served as chair of the Company's audit committee and as a member of its corporate governance and nominating committee.

Garry Kleer, Chairman of the Board, President and Chief Executive Officer of the Company and the Bank said, "We are deeply saddened by the passing of our director and friend. This is a major loss for us as Steve was an important member of our board, a key figure in what we have accomplished at the Bank, including our recent reorganization to a public company and stock offering, and, above all, a great human being."

Mr. Stevens was the President and Owner of Stevens Wire Products, a manufacturer of wire products, from 1986 until his retirement in 2016. He is a past board member of the Wire Fabricators Association, the Richmond YMCA, the Richmond Redevelopment Commission, the Wayne County Chamber of Commerce and the Forest Hills Country Club and has supported various not-for-profit organizations in our community. Mr. Stevens graduated with a Bachelor of Science degree from Indiana University.

About Richmond Mutual Bancorporation, Inc.

Richmond Mutual Bancorporation, Inc., headquartered in Richmond, Indiana, is the holding company for First Bank Richmond, a community-oriented financial institution offering traditional financial and trust services within its local communities through its eight locations in Richmond, Centerville, Cambridge City and Shelbyville, Indiana, its five locations in Sidney, Piqua and Troy, Ohio and its loan production office in Columbus, Ohio.

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SOURCE Richmond Mutual Bancorporation, Inc.

FAQ

What is the significance of W. Ray (Steve) Stevens' passing for RMBI?

His death is a loss for the board and may affect the company's governance.

How long did W. Ray (Steve) Stevens serve on the board of RMBI?

He served as a director for over 25 years.

What role did Stevens hold in Richmond Mutual Bancorporation?

He was a director and chair of the audit committee.

Who is the current CEO of Richmond Mutual Bancorporation after Stevens' passing?

Garry Kleer continues to serve as the CEO.

When did W. Ray (Steve) Stevens pass away?

He passed away on November 25, 2020.