Richmond Mutual Bancorporation is the holding company for First Bank Richmond, a community bank headquartered in Richmond, Indiana. The bank operates branches across east-central Indiana and western Ohio, with the Ohio branches operating under the Mutual Federal brand. Richmond Mutual's core business is traditional community banking: gathering deposits from local consumers and businesses and deploying those funds into loans and leases. The loan and lease portfolio is the primary earning asset, with commercial and multi-family real estate making up roughly half the book, followed by residential mortgage, equipment leases, and commercial and industrial loans. Through its First Federal Leasing division, the bank also originates small-ticket equipment leases to businesses nationally via third-party brokers — the only business line that operates outside its local markets. Richmond Mutual earns primarily through net interest income, the spread between loan and lease yields and deposit and borrowing costs. The lease portfolio carries notably higher yields than real estate loans, making mix an important driver of profitability. The bank funds itself primarily with retail deposits, supplemented by brokered deposits and FHLB advances. Secondary revenue comes from mortgage banking fees, deposit service charges, and wealth management, with a trust and wealth management business overseeing roughly $246M in assets. Richmond Mutual is also pursuing M&A growth, having announced a deal to acquire Farmers Bancorp to extend its Indiana footprint into the north-central part of the state, expected to close in Q2 2026.