Richmond Mutual Bancorporation Inc. (RMBI) Financial Statements (2024 and earlier)

Company Profile

Business Address 31 N. 9TH STREET
RICHMOND, IN 47374
State of Incorp.
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments20,24015,92223,05148,78140,597
Cash and cash equivalents20,24015,92223,03848,76840,597
Short-term investments   1313 
Total current assets:20,24015,92223,05148,78140,597
Noncurrent Assets
Operating lease, right-of-use asset 450505   
Property, plant and equipment13,31213,66814,34714,89214,087
Investment, proportional amortization method, elected, amount     
Total noncurrent assets:13,76214,17314,34714,89214,087
Other undisclosed assets1,427,0221,298,5251,230,2421,020,519931,358
TOTAL ASSETS:1,461,0241,328,6201,267,6401,084,193986,042
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities4,3971,369258222297
Interest and dividends payable258222297
Accrued liabilities4,3971,369   
Debt 109,00027,0006,0007,000 
Total current liabilities:113,39728,3696,2587,222297
Noncurrent Liabilities
Other undisclosed liabilities1,212,7671,167,2721,080,900884,258797,958
Total liabilities:1,326,1641,195,6421,087,158891,480798,255
Equity
Equity, attributable to parent, including:134,860132,978180,481192,713187,787
Common stock112118124132135
Additional paid in capital101,348106,089114,340124,246132,602
Accumulated other comprehensive income (loss)(43,045)(49,751)(1,212)3,709(661)
Retained earnings87,90388,71680,15878,29070,111
Unearned esop shares(11,458)(12,193)(12,928)(13,664)(14,400)
Other undisclosed equity, attributable to parent     0
Total equity:134,860132,978180,481192,713187,787
TOTAL LIABILITIES AND EQUITY:1,461,0241,328,6201,267,6401,084,193986,042

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Revenues59,31145,23343,71342,04137,207
Net investment income58,79344,59441,20738,21236,560
Cost of revenue(746)(824)(1,843)(4,235)(193)
Provision for loan, lease, and other losses(532)(600)(1,430)(3,770) 
Amortization of mortgage servicing rights (msrs)(214)(224)(413)(465)(193)
Gross profit:58,56644,40941,87037,80637,014
Operating expenses(7,192)(6,477)(6,330)(5,683) 
Operating income:51,37437,93135,54032,12337,014
Nonoperating income
(Investment Income, Nonoperating)
   56196 
Interest and debt expense(29,748)(10,219)(7,682)(9,393)(11,156)
Income from continuing operations before income taxes:21,62627,71227,91422,92625,857
Income tax expense(1,516)(2,783)(2,436)(2,477) 
Income from continuing operations:20,11024,92925,47820,44925,857
Income before gain (loss) on sale of properties:25,47820,44925,857
Other undisclosed net loss(10,623)(11,964)(14,333)(10,431) 
Net income:9,48712,96511,14510,01825,857
Other undisclosed net income (loss) attributable to parent(0)0(0)(0)(39,942)
Net income (loss) available to common stockholders, diluted:9,48712,96511,14510,018(14,084)

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Net income:9,48712,96511,14510,01825,857
Other comprehensive income (loss)6,706(48,539)4,9214,369(3,718)
Comprehensive income (loss):16,193(35,574)16,06614,38722,140
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(0)0(9,841)(0)(32,507)
Comprehensive income (loss), net of tax, attributable to parent:16,193(35,574)6,22414,387(10,367)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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