Announcement • Jul 02

Richmond Mutual Bancorporation, Inc. and First Bank Richmond Announces Management Changes, Effective July 1, 2026

Effective July 1, 2026, Richmond Mutual Bancorporation, Inc. (‘Richmond’), the holding company of First Bank Midwest (formerly First Bank Richmond), completed its previously announced merger with The Farmers Bancorp, Frankfort, Indiana (‘Farmers’), the holding company of The Farmers Bank, pursuant to the Agreement and Plan of Merger, dated November 11, 2025 (the ‘Merger Agreement’). Under the terms of the Merger Agreement, Farmers merged with and into Richmond (the ‘Merger’), with Richmond as the surviving corporation. Immediately following the Merger, The Farmers Bank merged with and into First Bank Richmond (the ‘Bank Merger’). In connection with the Bank Merger, First Bank Richmond was renamed First Bank Midwest and continued as the surviving bank. At the Effective Time, pursuant to the Merger Agreement, the boards of directors of Richmond and First Bank Midwest were expanded from six to eleven directors. The expanded boards consist of the six directors serving on the boards of Richmond and First Bank Richmond immediately prior to the Effective Time and five former directors of Farmers and The Farmers Bank immediately prior to the Effective Time. As previously disclosed, the five directors previously designated by Richmond and Farmers pursuant to the Merger Agreement, each of whom previously served as a director of Farmers and The Farmers Bank and was appointed to the boards of directors of Richmond and First Bank Midwest, effective as of the Effective Time, are as follows: Christopher D. Cook (Class I), James D. Moore (Class I), Barbara A. Cutillo (Class II), Thomas D. Crawford (Class II) and Daniel J. Lahrman (Class III), all former directors of Farmers (each, a ‘New Director’ and, collectively, the ‘New Directors’). As previously disclosed, effective as of the Effective Time, Barbara A. Cutillo, the former chairman of the Farmers board of directors, was appointed as Vice Chair of the Richmond and First Bank Midwest boards. Garry D. Kleer will continue to serve as Chairman of both the Richmond and First Bank Midwest boards. As previously disclosed, pursuant to the Merger Agreement and effective as of the Effective Time, Garry D. Kleer ceased serving as President of Richmond and continues to serve as Chairman and Chief Executive Officer of Richmond. Christopher D. Cook, the former President and Chief Executive Officer of Farmers, was appointed President of Richmond and President of First Bank Midwest. Paul J. Witte ceased serving as President and Chief Operating Officer of First Bank Richmond and was appointed Indiana Market President of First Bank Midwest. Carroll A. Valentino, the former Chief Operations Officer of Farmers, was appointed Chief Operations Officer of First Bank Midwest. Chad L. Kozuch, the former Chief Financial Officer of Farmers, was appointed Chief Risk Officer of First Bank Midwest.

Richmond Mutual Bancorporation, Inc. Stock Price

RMBI Share Price Performance

RMBI Community Narratives

Trending Discussion

Recently Updated Narratives

Snowflake Analysis

Richmond Mutual Bancorporation, Inc. Key Details

About RMBI

Recent RMBI News & Updates

New major risk - Shareholder dilution

Richmond Mutual Bancorporation, Inc. and First Bank Richmond Announces Management Changes, Effective July 1, 2026

Richmond Mutual Bancorporation Finalizes Merger With The Farmers Bancorp and Expands Network

Recent updates

Richmond Mutual Bancorporation, Inc. Competitors

Carter Bankshares

Washington Trust Bancorp

Arrow Financial

Thomasville Bancshares