8legs: Richmond mutual bancorporation

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Richmond 10-K: $85.9M Interest Income, $1.17 Diluted EPS

Richmond reports year-end results with total interest income of $85.908 million and net income of $11.577 million.
Diluted earnings per share rose to $1.17 as net income grew 23.5% year over year.
Net interest income rose 13.3% year over year as margins expanded.
The company notes a funding shift to core retail deposits to reduce brokered deposit reliance.
Lending growth focused on commercial, multi-family, and C&I sectors; construction lending declined.
The bank is expanding its footprint via a Columbus branch and technology upgrades.
Richmond announced a definitive merger agreement with Farmers Bancorp to broaden geographic reach.
Total non-interest income rose modestly, supporting pre-tax results.
Total interest income remains the primary revenue driver for the year.
The report attributes margin expansion to higher loan yields driving profitability.

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