Richmond Mutual Bancorp., the holding company of First Bank Midwest (formerly First Bank Richmond), announced that effective July 1, 2026 it has completed its previously announced merger with The Farmers Bancorp, Frankfort, Indiana ('Farmers'). As a result of the merger, each share of Farmers common stock outstanding immediately prior to the effective time of the merger was converted into the right to receive 3.40 shares of Richmond common stock. Cash will be paid in lieu of fractional shares.  Richmond expects to issue approximately 6,254,357 shares of Richmond common stock to the shareholders of Farmers upon surrender of their outstanding shares.

'We are pleased to announce the completion of our merger with Farmers and can now officially welcome this talented group of bankers to the Richmond team,' said Garry D. Kleer, Chairman and Chief Executive Officer of Richmond. He continued, 'Today marks an important milestone for our organization, bringing together two institutions with strong community banking traditions, complementary markets, and a shared commitment to serving our customers. We look forward to building on the strengths of both organizations, creating additional opportunities for our employees, and delivering long-term value for our shareholders and the communities we serve.'

'While today marks the successful completion of the merger, our focus is squarely on the future,' said Christopher D. Cook, President of Richmond and President and Chief Executive Officer of First Bank Midwest. 'We are committed to ensuring a seamless transition for our customers, supporting our employees as we come together as one team, and building on the strong relationships that have been the foundation of both organizations. By combining our talents and resources, we are creating a community bank that is positioned to serve our markets with greater strength, expertise, and opportunity now and in the future.' 

The combined company operates under the name 'Richmond Mutual Bancorporation Inc.,' and continues to trade on the Nasdaq Capital Market under the ticker symbol 'RMBI.' All branches of the combined bank will operate under the name 'First Bank Midwest.' The administrative headquarters of the combined company is located in Richmond, Indiana, and the administrative headquarters of the combined bank is located in Frankfort, Indiana.