Richmond Mutual reported net income of $2.8 million (EPS $0.28) for the first quarter of 2026, compared to $3.4 million (EPS $0.35) in Q4 2025 and $2.0 million (EPS $0.20) in Q1 2025. Net interest income was $11.4 million, up 11.6% year-over-year, supporting a 3.10% net interest margin, while a $693,000 provision for credit losses and $601,000 of nonrecurring expenses (core processor fees, fraud losses, real estate taxes) weighed on earnings.

On November 11, 2025, Richmond Mutual entered a merger agreement with Farmers Bancorp to combine under the Richmond Mutual Bancorporation holding company and First Bank Richmond. All required regulatory approvals have been secured; Farmers shareholders will receive 3.40 Richmond Mutual shares per Farmers share, representing approximately 38% ownership post-close. Special meetings of both shareholder groups are set for May 26–27, with closing expected in Q2 upon vote and customary conditions.

Management emphasized disciplined credit management amid a slight rise in nonaccrual loans and affirmed strong capital levels and low charge-offs. Leadership is focused on integration planning to realize cost synergies and anticipates short-term earnings variability from conversion expenses, with normalization as merger activities conclude.