Richmond Mutual to Buy Farmers Bancorp in Stock Swap

Dow Jones

2025/11/12

By Colin Kellaher

Richmond Mutual has agreed to buy fellow Indiana bank holding company Farmers Bancorp for more than $80 million in stock.

Richmond Mutual on Wednesday said it will issue 3.4 shares, worth about $46.14 based on Tuesday's closing price of $13.57, for each share of Frankfort-based Farmers, a roughly 7.3% premium to Farmers' Tuesday closing price of $43.

Richmond Mutual said its shareholders will own about 62% of the combined company, which will have $2.6 billion in assets and 24 branches in Indiana and Ohio, while Farmers shareholders will own roughly 38%.

The deal is slated to close early in the second quarter of 2026.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

November 12, 2025 07:52 ET (12:52 GMT)

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