MERGER BETWEEN RICHMOND MUTUAL BANCORPORATION, INC. AND THE FARMERS BANCORP, FRANKFORT, INDIANA RECEIVES SHAREHOLDER APPROVAL (Form 8-K)

MERGER BETWEEN RICHMOND MUTUAL BANCORPORATION, INC. AND

THE FARMERS BANCORP, FRANKFORT, INDIANA RECEIVES SHAREHOLDER APPROVAL

RICHMOND, IN - May 27, 2026 - Richmond Mutual Bancorporation, Inc. (NASDAQ: RMBI) ("Richmond Mutual") and The Farmers Bancorp, Frankfort, Indiana (OTCPK: FABP) ("Farmers Bancorp") today 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 May 26, 2026. 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 May 27, 2026. 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.

About Richmond Mutual Bancorporation, Inc.

Richmond Mutual Bancorporation, Inc., headquartered in Richmond, Indiana, is the holding company for First Bank Richmond, a community-oriented financial institution offering traditional financial and trust services within its local communities through its eight locations in Richmond, Centerville, Cambridge City and Shelbyville, Indiana, its six locations in Columbus, Sidney, Piqua and Troy, Ohio.

About The Farmers Bancorp, Frankfort, Indiana

The Farmers Bancorp, Frankfort, Indiana operates as the financial holding company for The Farmers Bank. Founded in 1876, The Farmers Bank is a full-service financial institution based in Clinton County, Indiana. In addition to its main office at 9 East Clinton Street, Frankfort, Indiana, the Bank operates a loan production office in Carmel and branches in Fishers, Frankfort, Kirklin, Lebanon, Michigantown, Mulberry, Noblesville, Rossville, Sheridan, Tipton and Westfield.