Richmond Mutual to Buy Farmers Bancorp in Stock Swap

Dow Jones

Nov 12, 2025

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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