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RICHMOND, Ind. - Richmond Mutual Bancorporation, Inc. (NASDAQ:RMBI), a profitable community bank with a market capitalization of $136 million, declared a quarterly cash dividend of $0.15 per share on Wednesday, according to a company press release. The dividend represents an attractive 4.24% yield, according to InvestingPro data.
The dividend will be paid on September 18, 2025, to stockholders of record as of the close of business on September 4, 2025. The bank has shown consistent profitability, with revenue growing 4.48% over the last twelve months.
Richmond Mutual Bancorporation serves as the holding company for First Bank Richmond, which operates eight locations across Indiana in Richmond, Centerville, Cambridge City, and Shelbyville. The bank also maintains five locations in Ohio cities including Sidney, Piqua, and Troy, along with a loan production office in Columbus, Ohio.
The Indiana-based financial institution describes itself as a community-oriented organization offering traditional financial and trust services within its local communities.
In other recent news, Richmond Mutual Bancorporation, Inc. has entered into change-in-control agreements with two of its top executives. These agreements involve Paul Witte, President and Chief Operating Officer of First Bank Richmond, and Bradley Glover, Chief Financial Officer of both the Company and the Bank. The agreements became effective on May 22, 2025, and have an initial term set to expire on December 31, 2026. They include provisions for automatic one-year extensions unless a non-renewal notice is given. A notable aspect of these agreements is that if a change in control occurs with less than a year remaining in the term, the agreements will extend to the one-year anniversary following the change. These developments are part of the company’s recent strategic moves.
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