# Richmond Mutual Bancorporation, Inc. > Clarifo company profile — qualitative business description generated from > the company's filings. Financial statements, charts and ratios are > available on Clarifo (https://www.clarifo.com/fi/companies/Richmond Mutual Bancorporation, Inc.). ## Overview 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. ## Products & services • Commercial, mortgage and consumer lending • Deposit accounts and related banking services • Direct financing leases for business equipment • Trust, fiduciary and wealth management services • Investment securities and FHLB funding - **Commercial and real estate lending** (45%) — Loans secured by commercial real estate, multifamily properties, and owner-occupied residential mortgages. - **Consumer lending** (10%) — Personal loans and other consumer credit products offered through the bank branch network. - **Equipment leasing** (15%) — Direct financing leases for equipment used by small and mid-sized businesses. - **Deposit and treasury services** (20%) — Deposit accounts, service charges, and related transaction banking services. - **Trust and wealth management** (10%) — Fiduciary, investment management, custodial, and private account services. - Commercial, mortgage and consumer lending - Deposit accounts and related banking services - Direct financing leases for business equipment - Trust, fiduciary and wealth management services - Investment securities and FHLB funding ## 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. - **Local retail deposit customers** (primary) — Individuals and households in the bank's branch markets who place deposits and use everyday banking services. - **Small and mid-sized business borrowers** (primary) — Businesses that borrow for working capital, commercial real estate, and equipment needs. - **Residential mortgage and consumer borrowers** (secondary) — Customers using first mortgages, home-related lending, and consumer credit products. - **Equipment leasing clients** (secondary) — Small businesses nationwide that lease technology, medical, industrial, construction, and transport equipment. - **Trust and wealth management clients** (secondary) — Individuals, institutions, estates, and trusts that buy fiduciary, custodial, and investment management services. - Households and local depositors seeking checking, savings and CDs - Small businesses needing commercial loans and equipment financing - Homeowners and consumers borrowing for residential or personal needs - Trusts, estates, and individuals using fiduciary and wealth services - Businesses nationwide leasing equipment integral to operations ## 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. - **Indiana branch and lending markets** (60%) — Core community banking footprint centered in Richmond and surrounding counties. - **Ohio branch and lending markets** (25%) — Secondary branch footprint across western and central Ohio. - **Nationwide leasing and wealth management** (15%) — Equipment leasing and trust services extend beyond the branch footprint. - Branch network in Cambridge City, Centerville, Richmond and Shelbyville, Indiana - Ohio branches in Piqua, Sidney and Troy, plus a loan production office in Columbus - Primary deposit and lending markets in Wayne and Shelby Counties, Indiana - Ohio market exposure in Shelby, Miami and Franklin Counties - Equipment leasing serves customers throughout the United States ## 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. - **Preserve a stable funding base** (short-term) — Core deposits and bank funding support lending capacity and reduce reliance on wholesale funding. - **Maintain regulatory capital strength** (short-term) — Well-capitalized status supports growth, dividend capacity, and regulatory flexibility. - **Deepen relationship banking in core markets** (medium-term) — Local lending and deposit relationships improve customer retention and cross-sell opportunities. - **Diversify income with leasing and wealth management** (medium-term) — These businesses add non-spread revenue and broaden the customer base. - Grow and retain core deposits to fund lending and leasing - Maintain well-capitalized status at the bank subsidiary - Expand relationship banking across Indiana and Ohio markets - Use leasing to reach small businesses nationwide - Support fee income through trust and wealth management ## 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. - **Credit deterioration in loan and lease portfolios** [high] — The bank lends against commercial real estate, residential mortgages, consumer assets, and leased equipment. - **Interest rate and margin volatility** [high] — Earnings depend heavily on the spread between loan/investment yields and deposit/funding costs. - **Regulatory capital and dividend restrictions** [medium] — Bank capital rules can limit dividends, bonuses, and balance sheet flexibility. - **Geographic concentration in local markets** [medium] — A large share of business comes from a limited set of counties in Indiana and Ohio. - **Funding and liquidity dependence on the bank subsidiary** [medium] — The holding company has no operating business and relies on upstream dividends and outside borrowings. - Credit losses can rise if borrowers weaken or collateral values fall - Net interest income is sensitive to interest rates and yield-curve shape - Dividend capacity depends on bank regulatory capital and approvals - Local economic concentration in Indiana and Ohio can amplify shocks - Leasing and securities income add exposure to asset quality and markets ## Accounting Key accounting judgments center on loan loss estimation, fair value measurement of securities, and the timing of gains or fees from mortgage sales and leasing activity. Investors should also watch goodwill or acquisition-related accounting if the company expands, as well as the treatment of trust assets under administration, which affects non-balance-sheet business metrics rather than revenue. - **Allowance for credit losses** — Affects provision expense and reported asset quality - **Fair value of investment securities** — Can affect accumulated other comprehensive income and gains/losses - **Mortgage banking fee recognition** — Creates quarter-to-quarter volatility in noninterest income - **Lease accounting and income recognition** — Affects interest income and credit loss estimates - Allowance for credit losses affects reported loan and lease quality - Fair value changes in securities can affect noninterest income - Mortgage sale gains depend on loan origination and sale timing - Leasing income and residual assumptions affect earnings recognition - Trust assets under administration are off-balance-sheet but important --- *Last updated: 2026-04-29T04:53:45.535575+00:00*