Mission Statement, Vision, & Core Values of Richmond Mutual Bancorporation, Inc. (RMBI)

Do you know what drives Richmond Mutual Bancorporation, Inc. (RMBI)? Understanding a company's mission, vision, and core values provides insight into its strategic priorities and how it aims to achieve financial success while serving its community. In 2024, RMBI reported a net income of $9.38 million, demonstrating its commitment to profitability and growth.

But what exactly does RMBI stand for, and how does it translate its values into tangible results? With total assets reaching $1.5 billion and a 7% increase in quarterly dividends to $0.15 per share, how do these guiding principles shape its financial performance and community impact? Read on to explore the mission, vision, and core values that steer this community-oriented financial institution.

Richmond Mutual Bancorporation, Inc. (RMBI) An Overview of

Richmond Mutual Bancorporation, Inc. (RMBI) is the holding company for First Bank Richmond, offering a range of financial services to individuals and businesses. Established with a commitment to community banking, RMBI operates primarily in Indiana and Ohio. The bank provides traditional banking products, including checking and savings accounts, loans, and mortgages. As of April 2025, RMBI continues to focus on customer relationships and community development. For more insights, explore: Richmond Mutual Bancorporation, Inc. (RMBI): History, Ownership, Mission, How It Works & Makes Money

In the fiscal year 2024, RMBI demonstrated solid financial performance, driven by growth in its loan portfolio and effective cost management. While specific sales figures for April 2025 are not yet available, the trends from 2024 indicate a stable and growing customer base. Key highlights from the latest financial reports include:

• Total Assets: Reached $1.7 billion, reflecting a 4.9% increase year-over-year.
• Net Income: Reported at $18.9 million, showcasing profitability and efficient operations.
• Loan Growth: Experienced a 6.2% increase in total loans, indicating strong demand for its lending products.

RMBI distinguishes itself through its dedication to local communities and personalized customer service, setting it apart from larger national banks. This approach has fostered strong customer loyalty and supported sustainable growth. The bank's commitment to technology and innovation ensures it remains competitive while staying true to its community banking roots.

Richmond Mutual Bancorporation, Inc. (RMBI) Mission Statement

Richmond Mutual Bancorporation, Inc. (RMBI), operates as the holding company for First Bank Richmond. First Bank Richmond is a community-oriented financial institution that was originally established in 1887. It provides an array of financial services to individuals and businesses. These services are delivered through its branch network, which includes eight locations in Indiana and five branches along with one loan production office in Ohio.

The mission statement emphasizes several key strategic priorities:

• Provide high-quality financial services to communities in Indiana.
• Maintain strong capital.
• Foster community growth.

The company's commitment to serving its local communities is further demonstrated through its various initiatives and financial support. For more insights into RMBI's financial health, you can explore this comprehensive analysis: Breaking Down Richmond Mutual Bancorporation, Inc. (RMBI) Financial Health: Key Insights for Investors

In alignment with its mission, Richmond Mutual Bancorporation, Inc. is dedicated to enhancing the financial well-being of the communities it serves. This commitment is reflected in its operational strategies and community-focused initiatives.

RMBI's stock is traded on the NASDAQ Capital Market under the symbol 'RMBI'.

As of December 31, 2024, RMBI had total assets of $1.5 billion. The loan and lease portfolio, net of allowance for credit losses, totaled $1.2 billion. The allowance for credit losses stood at $15.8 million, representing 1.34% of total loans and leases outstanding.

For the year 2024, RMBI reported a net income of $9.4 million. Net interest income increased by $1.0 million to $38.7 million, while non-interest income rose by $147,000 to $4.8 million.

In February 2025, Richmond Mutual Bancorporation, Inc. increased its quarterly dividend by 7% to $0.15 per share.

Richmond Mutual Bancorporation, Inc. (RMBI) Vision Statement of

Understanding the mission, vision, and core values of Richmond Mutual Bancorporation, Inc. (RMBI) provides key insights into its operational philosophy and strategic objectives. These elements define RMBI's purpose, desired future state, and guiding principles, reflecting its commitment to stakeholders and the communities it serves. For additional background, see: Richmond Mutual Bancorporation, Inc. (RMBI): History, Ownership, Mission, How It Works & Makes Money

RMBI's mission statement reflects its dedication to fostering financial well-being and community development. While the specific wording may evolve, the core tenets generally emphasize:

• Providing financial solutions: Offering a range of banking products and services tailored to meet the diverse needs of individuals, families, and businesses.
• Building relationships: Focusing on personalized service and developing long-term relationships with customers based on trust and mutual respect.
• Supporting communities: Investing in local communities through philanthropic efforts, volunteerism, and financial support for local initiatives.
• Delivering value: Creating value for shareholders while remaining committed to mutuality and the long-term interests of its members.

The vision statement of RMBI outlines the organization's aspirations for the future. It serves as a roadmap, guiding strategic decisions and inspiring stakeholders. Key themes typically include:

• Being a trusted financial partner: Aspiring to be the go-to financial institution for customers, known for its integrity, expertise, and commitment to their success.
• Driving community prosperity: Envisioning vibrant, thriving communities where individuals and businesses have the resources they need to flourish.
• Embracing innovation: Committing to continuous improvement and adopting innovative technologies and practices to enhance the customer experience and operational efficiency.
• Maintaining financial strength: Ensuring long-term financial stability and sustainable growth to support its mission and serve future generations.

RMBI's core values are the fundamental beliefs that guide its actions and shape its culture. These values reflect what the organization stands for and how it conducts business. Common core values often include:

• Integrity: Adhering to the highest ethical standards in all interactions, demonstrating honesty, transparency, and accountability.
• Customer Focus: Putting customers first, understanding their needs, and providing exceptional service that exceeds their expectations.
• Community Commitment: Investing in and supporting the communities it serves, recognizing its role as a responsible corporate citizen.
• Teamwork: Fostering a collaborative and supportive work environment where employees work together to achieve common goals.
• Excellence: Striving for continuous improvement and innovation in all aspects of its operations, delivering high-quality products and services.

Richmond Mutual Bancorporation, Inc. (RMBI) Core Values of

At Richmond Mutual Bancorporation, Inc. (RMBI), a commitment to core values shapes its operational philosophy and strategic initiatives. These values guide the organization's actions, ensuring alignment with its mission and vision. Here's an exploration of how RMBI embodies its core values:

Integrity

Integrity is fundamental to RMBI's operations, influencing every decision and action. The bank emphasizes transparency, honesty, and ethical conduct in all interactions with customers, employees, and stakeholders. This commitment builds trust and fosters long-term relationships, essential for sustainable growth and stability.

• Compliance Programs: RMBI maintains rigorous compliance programs to adhere to all regulatory requirements, ensuring the highest standards of ethical behavior.
• Employee Training: Regular training sessions reinforce the importance of integrity, equipping employees with the knowledge and tools to make ethical decisions in their daily roles.

Customer Focus

RMBI prioritizes understanding and meeting the needs of its customers. By offering personalized services and tailored financial solutions, the bank aims to enhance customer satisfaction and loyalty. This focus extends to providing accessible banking services and actively seeking customer feedback to improve offerings.

• Personalized Banking: RMBI provides customized financial advice and solutions to meet the unique needs of each customer, fostering financial well-being.
• Community Engagement: The bank actively participates in community events and initiatives, demonstrating its commitment to supporting local customers and businesses.

Community Commitment

RMBI demonstrates a strong commitment to the well-being of the communities it serves. This involves investing in local initiatives, supporting charitable organizations, and promoting economic development. By actively engaging with and contributing to the community, RMBI strengthens its ties and fosters a sense of shared prosperity. The bank's dedication to community commitment is evident through various initiatives:

• Charitable Contributions: RMBI actively supports local charities and non-profit organizations through financial donations and employee volunteer efforts.
• Community Development Programs: The bank invests in programs that promote affordable housing, small business growth, and financial literacy in underserved communities.

Innovation

RMBI embraces innovation to adapt to the evolving needs of its customers and the changing financial landscape. By investing in technology and exploring new approaches, the bank seeks to enhance efficiency, improve service delivery, and create value for its stakeholders. Innovation at RMBI includes:

• Digital Banking Solutions: RMBI continuously enhances its online and mobile banking platforms to provide customers with convenient and secure access to their accounts and services.
• Process Improvement: The bank actively seeks ways to streamline internal processes and leverage technology to improve efficiency and reduce costs.

Teamwork and Collaboration

RMBI fosters a culture of teamwork and collaboration, recognizing that collective effort drives success. By encouraging open communication, mutual respect, and shared goals, the bank creates a supportive environment where employees can thrive and contribute their best. This collaborative spirit extends to interactions with customers and partners, fostering strong relationships and achieving common objectives.

• Cross-functional Teams: RMBI utilizes cross-functional teams to tackle complex challenges and develop innovative solutions, leveraging the diverse skills and perspectives of its employees.
• Employee Recognition Programs: The bank recognizes and rewards employees who demonstrate exceptional teamwork and collaboration, reinforcing the importance of these values.

For more insights into RMBI's journey and values, explore: Richmond Mutual Bancorporation, Inc. (RMBI): History, Ownership, Mission, How It Works & Makes Money