Richmond Mutual Bancorporation (NASDAQ:RMBI) is the bank holding company for Richmond Mutual Bank, a mutual savings institution headquartered in Staten Island, New York. Established in 1868, the company operates as a community-oriented financial services provider, serving individuals, families and local businesses across Staten Island and parts of the greater New York City area.
The company’s core offerings include a full suite of deposit products—such as checking and savings accounts, money market accounts, certificates of deposit and individual retirement accounts—alongside consumer and residential mortgage lending. Richmond Mutual Bancorporation also delivers commercial banking services, including commercial real estate and business term loans, and municipal deposit relationships. Customers can access online and mobile banking platforms that support funds transfers, bill payment, e-statements and mobile check deposit.
Since its founding more than 150 years ago as Richmond County Savings Bank, the organization has maintained mutual ownership, emphasizing a long-term, customer-focused approach rather than shareholder-driven models. Over time, it has expanded its branch network to multiple locations on Staten Island while preserving its commitment to local decision-making, community reinvestment and personalized service.
The company’s leadership team is led by President and Chief Executive Officer Joseph V. Strachan Jr., who oversees strategic planning, growth initiatives and community outreach programs. Supported by a board of directors comprised largely of local civic and business leaders, Richmond Mutual Bancorporation continues to prioritize relationship-driven banking and neighborhood development in its core markets.
