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Richmond Mutual Bancorporation (RMBI) Completes Merger With The Farmers Bancorp of Frankfort, Indiana

Richmond Mutual Bancorporation, Inc. (NASDAQ: RMBI) closed its previously announced merger with The Farmers Bancorp of Frankfort, Indiana, effective July 1, 2026. The Richmond, Indiana-based holding company, parent of…

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NewsMV Markets Desk
3 min read
1 July 2026Markets desk
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Richmond Mutual Bancorporation, Inc. (NASDAQ: RMBI) closed its previously announced merger with The Farmers Bancorp of Frankfort, Indiana, effective July 1, 2026. The Richmond, Indiana-based holding company, parent of First Bank Midwest — operating formerly under the name First Bank Richmond — confirmed the transaction's completion in a press release issued Tuesday.

Deal Close

The merger became effective on the first day of July, marking the formal combination of the two Indiana banking franchises. Richmond Mutual Bancorporation had disclosed the transaction in an earlier announcement; Tuesday's release confirms it crossed the regulatory and procedural finish line on schedule. No financial terms were disclosed in the announcement.

What This Means for First Bank Midwest

First Bank Midwest, the operating bank subsidiary of Richmond Mutual Bancorporation, is the vehicle through which the combined institution will carry its business forward. The subsidiary already underwent a rebranding — from First Bank Richmond to First Bank Midwest — positioning it ahead of a footprint that now formally incorporates The Farmers Bancorp's Frankfort, Indiana presence. The name change signals an intent to operate across a broader Indiana geography rather than a single-city identity.

The Counterparty: The Farmers Bancorp

The Farmers Bancorp, headquartered in Frankfort, Indiana, is the acquired institution. Frankfort sits in Clinton County in north-central Indiana, extending Richmond Mutual's reach beyond its Wayne County base in eastern Indiana. No deposit figures, branch counts, or asset totals were included in the closing announcement.

What Investors Should Watch

RMBI trades on the Nasdaq. With the merger now closed, the integration phase begins — cost saves, branch rationalization, and the pace of core system conversions will be the operational metrics that matter to holders from here. The announcement contained no forward guidance or financial targets. Investors looking for deal economics will need to wait for the next earnings disclosure or an investor presentation from Richmond Mutual Bancorporation management.

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Filed via prnewswire.com

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Key takeaways

Frequently asked

When did the merger between Richmond Mutual Bancorporation and The Farmers Bancorp take effect?

The merger became effective on July 1, 2026, as confirmed in a press release issued Tuesday.

What is First Bank Midwest and how is it related to the deal?

First Bank Midwest is Richmond Mutual Bancorporation's operating bank subsidiary, formerly named First Bank Richmond, and is the vehicle through which the combined institution will carry its business forward.

Were financial terms of the merger disclosed?

No, no financial terms were disclosed, and the announcement included no deposit figures, branch counts, or asset totals.

What should investors watch now that the merger has closed?

Investors should watch the integration phase, including cost saves, branch rationalization, and the pace of core system conversions, with deal economics expected in the next earnings disclosure or an investor presentation.

Where is The Farmers Bancorp located?

The Farmers Bancorp is headquartered in Frankfort, Indiana, which sits in Clinton County in north-central Indiana.