MergerJul 1, 2026, 11:02 AM
Richmond Mutual Bancorp Completes Merger with Farmers Bancorp
AI Summary
Richmond Mutual Bancorporation, Inc. announced the completion of its merger with The Farmers Bancorp, effective July 1, 2026. As part of the transaction, each share of Farmers common stock was converted into 3.40 shares of Richmond common stock, resulting in the issuance of approximately 6.25 million new Richmond shares. Following the merger, First Bank Richmond was renamed First Bank Midwest, and the boards of directors for both Richmond and First Bank Midwest expanded to include five former Farmers directors, with Barbara A. Cutillo appointed as Vice Chair.
Key Highlights
- Merger of Richmond Mutual Bancorporation and The Farmers Bancorp completed on July 1, 2026.
- Each Farmers common stock share converted into 3.40 shares of Richmond common stock.
- Richmond issued approximately 6,254,357 shares of its common stock to Farmers shareholders.
- First Bank Richmond was renamed First Bank Midwest following the bank merger.
- Boards of Richmond and First Bank Midwest expanded from six to eleven directors.
- Five former Farmers directors, including Christopher D. Cook and Barbara A. Cutillo, joined the boards.
- Barbara A. Cutillo appointed Vice Chair of Richmond and First Bank Midwest boards.
Price Impact
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