The earnings decline, which brought diluted earnings per share to $0.22, was further influenced by a higher provision for credit losses. Despite these bottom-line pressures, core performance metrics showed resilience. Net interest income climbed to $12.1 million, a 5.5% increase over the first quarter of 2026, bolstered by an expanded net interest margin of 3.22% and steady loan growth.
In section Releases
Richmond Mutual Bancorporation Reports Profit Dip Amid Merger Costs
Richmond Mutual Bancorporation posted second-quarter net income of $2.2 million, trailing the previous quarter’s $2.8 million as the company absorbed $1.9 million in one-time expenses tied to its acquisition of The Farmers Bancorp. The results reflect operations completed just before the merger’s official July 1 closure.
With the merger now finalized, the combined entity—operating as First Bank Midwest—is moving into an integration phase. CEO Garry Kleer emphasized that the deal provides the scale necessary for long-term growth, welcoming new leadership including President Christopher Cook. While noninterest expenses rose 16.8% to $10.2 million due to the acquisition, management maintains that the firm remains in a position of financial strength, with Tier 1 capital ratios significantly exceeding regulatory requirements.
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