Richmond Mutual Bancorporation, Inc. (NASDAQ: RMBI) announced today that its Board of Directors has declared a cash dividend on Richmond Mutual Bancorporation common stock of $0.05 per share, payable on June 18, 2020 to stockholders of record as of the close of business on June 4, 2020.
Richmond Mutual Bancorporation, Inc. (the "Company") (NASDAQ: RMBI), parent company of First Bank Richmond (the "Bank"), today announced a net loss of $12.5 million for the fourth quarter of 2019 compared to net income of $1.5 million for the fourth quarter of 2018. The net loss for the fourth quarter of 2019 reflects an estimated after tax charge of $14.3 million ($1.15 per share) to terminate the Company's participation in a multiemployer defined benefit pension plan (the "DB Plan"), which resulted in a $19.3 million reduction in revenue and pre-tax earnings in the quarter. The net loss for the year ended December 31, 2019 was $14.1 million compared to net income of $5.7 million in 2018. Net income for the year ended December 31, 2019 was affected by the estimated after tax charge associated with the termination of the DB Plan mentioned above, an after tax charge of $4.9 million associated with the Company's contribution to the First Bank Richmond, Inc. Community Foundation (the "Foundation") which was formed in connection with our reorganization and stock offering completed on July 1, 2019, and an after tax charge of $1.3 million related to the adoption of a nonqualified deferred compensation plan in the second quarter of 2019.
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Richmond Mutual Bancorporation, Inc., a Maryland corporation (the "Company") (NASDAQ: RMBI), parent company of First Bank Richmond (the "Bank"), today announced net income of $2.5 million, or $0.20 diluted earnings per share, for the first quarter of 2020 compared to net income of $1.4 million for the first quarter of 2019. There is no comparison of earnings per share to the first quarter of 2019, as the Company's reorganization from the mutual to stock form of ownership and related stock offering was not completed until July 1, 2019.
RICHMOND, Ind. , Aug. 13, 2019 /PRNewswire/ -- Richmond Mutual Bancorporation, Inc., a Maryland corporation (the "Company") (NASDAQ: RMBI), parent company of First Bank Richmond (the "Bank"), ...
RICHMOND, Ind. , Nov. 4, 2019 /PRNewswire/ -- Richmond Mutual Bancorporation, Inc., a Maryland corporation (the "Company") (NASDAQ: RMBI), parent company of First Bank Richmond (the "Bank"), ...
RICHMOND, Ind., July 1, 2019 /PRNewswire/ -- Richmond Mutual Bancorporation, Inc. ("RMBI") announced today that it has become the holding company for First Bank Richmond (the "Bank") in connection with the completion of the Bank's reorganization from the mutual holding company form of organization to the stock holding company form of organization. RMBI has also completed its related stock offering. RMBI's common stock (CUSIP Number 76525P 100) will begin trading on the Nasdaq Capital Market under the symbol "RMBI" on July 2, 2019.
RICHMOND, Ind., Aug. 21, 2019 /PRNewswire/ -- Richmond Mutual Bancorporation, Inc. ("RMBI"), the holding company for First Bank Richmond (the "Bank"), announced today that it increased the size of the board of directors from seven to eight members and appointed Harold T. Hanley III to fill the vacancy created by this increase. This appointment will be effective as of September 1, 2019. Mr. Hanley will serve in the class of directors whose terms expire in 2022. Mr. Hanley has not been appointed to any Board committees of the Company as of the date of this press release. Mr. Hanley will also join the board of directors of the Bank, subject to receipt of any required regulatory approvals. Mr. Hanley, until his retirement in August 2019, was a Managing Director of Keefe, Bruyette & Woods, Inc., a Stifel Company ("KBW"). He joined KBW in January of 1995 after 14 years as Chief Financial Officer of two financial institutions located in the Midwest. Prior to entering the financial services industry, Mr. Hanley was with KPMG (Peat Marwick & Co.) for several years.