Richmond Mutual Bancorporation, Inc. and The Farmers Bancorp, Frankfort, Indiana, jointly announced that they each received the necessary shareholder approval for the consummation of their planned merger.
Farmers Bancorp's shareholders approved the merger agreement and related transactions at its special meeting of shareholders held on Tuesday. Richmond Mutual's shareholders approved the merger agreement and the issuance of its shares in the transaction at its annual meeting of shareholders held on Wednesday.
Richmond Mutual previously announced the receipt of all required bank regulatory approvals for the merger of Richmond Mutual and Farmers Bancorp, as well as the merger of Farmers Bancorp's bank subsidiary, The Farmers Bank, into Richmond Mutual's bank subsidiary, First Bank Richmond. The transaction is expected to be completed on or around the end of the second quarter of 2026, subject to satisfaction of customary closing conditions.
Upon completion of the merger, Farmers Bancorp shareholders will be entitled to receive 3.40 shares of Richmond Mutual common stock for each share of Farmers Bancorp common stock they own. The exchange ratio is fixed, and the transaction is expected to qualify as a tax-free exchange for Farmers Bancorp's shareholders.
The combined company will continue to trade on the Nasdaq Capital Market under the ticker symbol "RMBI."
The holding company will operate under the name "Richmond Mutual Bancorporation, Inc.," and the combined bank will operate under the new name "First Bank Midwest."
The administrative headquarters of the combined company will be located in Richmond, Indiana, and the administrative headquarters of the combined bank will be located in Frankfort, Indiana.
Lawrence County Housing Authority announces capital and budget plans for 2026-27
Lawrence County Veterans Assistance Commission holds organizational meeting
Knox County truckers warned about county road limits
Fertilizer delivery waiver approved for drivers
Lawrence County honors war dead; Educator of the Year on Memorial Day
Lawrence County man charged with arson
Driver admits to law enforcement that she drove car into a pond
Lady softball Indians to play for regional title
Red Hill Unit #10 sets fees and salaries for new school year
Lawrenceville conducting water customer survey
Lawrence County raises solar project fee
Lawrence Unit #20 hires new elementary dean of students
USPS proposes maintenance, repairs during Mailbox Improvement Week
Three handed prison terms in Lawrence County
INDOT Knox County road construction to begin
Extensive rainfall in region leads to Embarrass River flood warning
Exposure to animals, biting pests can lead to several illnesses
