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Stock impact report

Richmond Mutual Bancorporation, Inc. Announces Second Quarter Financial Results

Richmond Mutual Bancorporation, Inc. (RMBI) 
Company Research Source: PR Newswire
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"), today announced net income for the three months ended June 30, 2019 of $335,000, a $1.0 million decrease from net income of $1.4 million for the three months ended June 30, 2018.  Net income for the second quarter of 2019 was impacted by a non-recurring $1.3 million after-tax expense related to the adoption of the nonqualified deferred compensation plan during the quarter.  Excluding this non-recurring expense, net income for the quarter ended June 30, 2019 increased $260,000 compared to the same quarter in 2018.  Net income was $1.7 million for the first six months of 2019, compared to $2.6 million in the first six months of 2018.Effective July 1, 2019, the Bank completed its conversion from a mutual holding company to a stock holding company form of organization and the Company completed its rel Show less Read more
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