Filing Summary
Business Context and Reporting Period
Richmond Mutual Bancorporation, Inc. filed a Form 8-K dated December 21, 2022, reporting an executive officer appointment at its wholly owned subsidiary, First Bank Richmond. The filing does not report quarterly or annual financial results.
Material Management Change
- Effective January 1, 2023, Paul Witte was appointed President and Chief Operating Officer of First Bank Richmond.
- Garry Kleer will continue as Chairman, President and Chief Executive Officer of the Company and as Chairman and Chief Executive Officer of the Bank.
- Mr. Witte, age 51, has been employed by the Bank since 1996 and previously served as Executive Vice President and Chief Lending Officer.
- His responsibilities include management of the Commercial Lending Department, participation in the Officer’s and Executive Loan Committees, oversight of the Leasing Department as needed, and review of larger leasing credit applications.
Financial Metrics and Liquidity
The filing does not provide revenue, profit, cash flow, margins, debt, liquidity, capital, asset-quality, or other financial metrics. It also does not quantify any compensation or financial arrangements related to the appointment.
Guidance, Risks, and Contingencies
The filing provides no financial guidance, forecast, risk update, contingency, or unusual accounting item. It states that there are no arrangements or understandings with any other person relating to Mr. Witte’s appointment, no family relationship requiring disclosure, and no related-party relationship requiring disclosure under Item 404(a) of Regulation S-K.
Key Facts to Verify
- Confirm that Mr. Witte’s appointment became effective January 1, 2023.
- Verify the division of responsibilities between Mr. Witte and Mr. Kleer following the appointment.
- Review subsequent filings for any changes in executive roles, compensation, lending strategy, or operating performance.