Richmond Mutual Bancorporation, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2021
January 27, 2022 at 04:08 pm EST
Share
Richmond Mutual Bancorporation, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2021. For the fourth quarter, the company reported net interest income was USD 10.09 million compared to USD 8.95 million a year ago. Net income was USD 2.72 million compared to USD 2.53 million a year ago. Basic earnings per share from continuing operations was USD 0.24 compared to USD 0.21 a year ago. Diluted earnings per share from continuing operations was USD 0.24 compared to USD 0.21 a year ago.
For the full year, net interest income was USD 38.24 million compared to USD 33.47 million a year ago. Net income was USD 11.15 million compared to USD 10.02 million a year ago. Basic earnings per share from continuing operations was USD 0.98 compared to USD 0.82 a year ago. Diluted earnings per share from continuing operations was USD 0.96 compared to USD 0.82 a year ago.
Richmond Mutual Bancorporation, Inc. is a holding company for First Bank Richmond, an Indiana state-chartered commercial bank. The Company's principal business consists of attracting deposits from the general public, as well as brokered deposits, and investing those funds primarily in loans secured by commercial and multi-family real estate, first mortgages on owner-occupied, one-to four-family residences, a variety of consumer loans, direct financing leases and commercial and industrial loans. It offers a full range of lending products, including multi-family and commercial real estate loans, commercial and industrial loans, construction and development loans, residential real estate loans, including home equity loans and lines of credit, and consumer loans. It also engages in lease financing, which consists of direct financing leases and is used by its commercial customers to finance purchases of equipment. It also provides trust and wealth management services.