Richmond Mutual Bancorporation, Inc.
Richmond Mutual Bancorporation, Inc. is a U.S. bank holding company whose operations are conducted primarily through its subsidiary, First Bank Richmond. The bank provides community banking, lending, leasing, deposit-taking, and trust and wealth management services from offices in Indiana and Ohio.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueLoans secured by commercial real estate, multifamily properties, and owner-occupied residential mortgages.
Personal loans and other consumer credit products offered through the bank branch network.
Direct financing leases for equipment used by small and mid-sized businesses.
Deposit accounts, service charges, and related transaction banking services.
Fiduciary, investment management, custodial, and private account services.
Customers
The company serves retail depositors, households, small businesses, and commercial borrowers in its primary market area in Indiana and Ohio. It also serves equipment lessees across the United States through its leasing business, and individuals, estates, trusts, and institutions through trust and wealth management services.
Individuals and households in the bank's branch markets who place deposits and use everyday banking services.
Businesses that borrow for working capital, commercial real estate, and equipment needs.
Customers using first mortgages, home-related lending, and consumer credit products.
Small businesses nationwide that lease technology, medical, industrial, construction, and transport equipment.
Individuals, institutions, estates, and trusts that buy fiduciary, custodial, and investment management services.
Strategy
The company’s strategy centers on maintaining a traditional community banking franchise while funding loans and leases with core deposits and other stable sources. It also uses equipment leasing and trust/wealth management to broaden fee and relationship income beyond spread lending.
Core deposits and bank funding support lending capacity and reduce reliance on wholesale funding.
Well-capitalized status supports growth, dividend capacity, and regulatory flexibility.
Local lending and deposit relationships improve customer retention and cross-sell opportunities.
These businesses add non-spread revenue and broaden the customer base.
Geography
First Bank Richmond operates branch offices in Indiana and Ohio, with its core deposit and lending markets concentrated in Wayne and Shelby Counties in Indiana and Shelby, Miami, and Franklin Counties in Ohio. The leasing business reaches customers throughout the United States, while trust and wealth management is administered from Richmond, Indiana.
Risks
The company is exposed to credit risk in commercial real estate, residential mortgage, consumer, and equipment lease portfolios, where borrower performance and collateral values drive losses. As a bank holding company, it also depends on dividends from the bank subsidiary and is sensitive to interest rate movements, regulatory capital rules, and local economic conditions in its branch markets.
The bank lends against commercial real estate, residential mortgages, consumer assets, and leased equipment.
Earnings depend heavily on the spread between loan/investment yields and deposit/funding costs.
Exposure: Net interest income
Bank capital rules can limit dividends, bonuses, and balance sheet flexibility.
Exposure: First Bank Richmond capital and holding company liquidity
A large share of business comes from a limited set of counties in Indiana and Ohio.
The holding company has no operating business and relies on upstream dividends and outside borrowings.
Exposure: Holding company liquidity
Accounting
Judgemental itemsLoan and lease reserves depend on borrower performance, collateral values, and macro assumptions.
Impact: Affects provision expense and reported asset quality
The portfolio includes mortgage-backed, agency, and municipal securities valued using market inputs.
Impact: Can affect accumulated other comprehensive income and gains/losses
Fees from residential mortgage loans sold into the secondary market depend on origination and sale timing.
Impact: Creates quarter-to-quarter volatility in noninterest income
Direct financing leases require judgment on yield, collectability, and residual assumptions.
Impact: Affects interest income and credit loss estimates
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Last updated: 29/04/2026