Richmond Mutual Bancorporation, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 20, 2023 at 06:18 am
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Richmond Mutual Bancorporation, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 9.13 million compared to USD 10.51 million a year ago. Net income was USD 1.95 million compared to USD 3.16 million a year ago. Basic earnings per share from continuing operations was USD 0.19 compared to USD 0.3 a year ago. Diluted earnings per share from continuing operations was USD 0.19 compared to USD 0.29 a year ago.
For the nine months, net interest income was USD 28.33 million compared to USD 31.12 million a year ago. Net income was USD 7.55 million compared to USD 9.66 million a year ago. Basic earnings per share from continuing operations was USD 0.72 compared to USD 0.89 a year ago. Diluted earnings per share from continuing operations was USD 0.72 compared to USD 0.87 a year ago.
Richmond Mutual Bancorporation, Inc. is a holding company for First Bank Richmond, an Indiana state-chartered commercial bank. The Company's principal business consists of attracting deposits from the general public, as well as brokered deposits, and investing those funds primarily in loans secured by commercial and multi-family real estate, first mortgages on owner-occupied, one-to four-family residences, a variety of consumer loans, direct financing leases and commercial and industrial loans. It offers a full range of lending products, including multi-family and commercial real estate loans, commercial and industrial loans, construction and development loans, residential real estate loans, including home equity loans and lines of credit, and consumer loans. It also engages in lease financing, which consists of direct financing leases and is used by its commercial customers to finance purchases of equipment. It also provides trust and wealth management services.