08:31 AM EST, 11/12/2025 (MT Newswires) -- Richmond Mutual Bancorporation ( RMBI ) said Wednesday it will acquire The Farmers Bancorp in an all-stock deal valued at about $82 million, or $44.71 per Farmers Bancorp share.

Each Farmers Bancorp share will convert into 3.40 Richmond Mutual shares, leaving Richmond holders with about 62% of the combined company and Farmers Bancorp holders with about 38%, it said.

The combined bank will have about $2.6 billion in assets and 24 branches in Central and East Central Indiana and Western and Central Ohio, the bank said.

The parent will keep the Richmond Mutual Bancorporation ( RMBI ) name and RMBI ticker, with the parent based in Richmond, Indiana, and the bank headquartered in Frankfort, Indiana, it added.

Garry Kleer will be chief executive of the parent, and Chris Cook will be president of the parent and chief executive of the bank, Richmond said.

Closing is targeted for early Q2 2026 pending approvals, with Richmond Mutual expecting roughly 35% EPS accretion after cost savings and Farmers Bancorp holders seeing around 27.5% dividend-per-share accretion, the company said.

Shares of the bank were up by more than 0.6% in recent Wednesday premarket activity.