Rhinebeck Bancorp Inc

Rhinebeck Bancorp, Inc. operates as a bank holding company, which engages in the provision of banking services. It operates through the following segments: Commercial Real Estate, Residential Real Estate, Commercial and Industrial, and Consumer. The Commercial Real Estate loans segment is separated into the three classes: construction, non-residential and multi-family, Non-residential and multi-family loans include long-term loans financing commercial properties and include both owner and non-owner occupied properties. Construction loans, which include land loans, are comprised mostly of non-owner occupied projects, whereby the property is generally under development and tends to have more risk than the owner-occupied loans. The Residential Real Estate loans are secured by the borrower’s residential real estate generally in a first lien position. The Commercial and Industrial loans segment is composed of loans made for purposes of financing the activities of commercial customers. The Consumer loans are classified into the following three classes: indirect automobile loans, home equity loans and other consumer loans. The firm also engages in the provision of financial services. It offers mobile banking, savings and money markets, lending products, express business loans, merchant services and mortgage center. The company was founded in August 2018 and is headquartered in Poughkeepsie, NY.

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Rhinebeck Bancorp, Inc. operates as a bank holding company, which engages in the provision of banking services. It operates through the following segments: Commercial Real Estate, Residential Real Estate, Commercial and Industrial, and Consumer. The Commercial Estate segment is involved in construction, non-residential, and multi-family. The Residential Real Estate Segment focuses on borrower’s residential real estate generally in a first lien position. The Commercial and Industrial segment includes loans made for purposes of financing the activities of commercial customers. The Consumer segment engages in indirect automobile loans, home equity loans, and other consumer loans. The company was founded in August 2018 and is headquartered in Poughkeepsie, NY.

POUGHKEEPSIE, NY / ACCESSWIRE / October 24, 2024 / Rhinebeck Bancorp, Inc. (the "Company") (NASDAQ:RBKB), the holding company of Rhinebeck Bank (the "Bank"), reported a net loss for the third quarter of 2024 of $8.1 million, compared to net income of $1.2 million for the third quarter of 2023. Loss per share was $0.75 for the third quarter of 2024, compared to diluted earnings per share of $0.11 for the same quarter of 2023.

Rhinebeck Bancorp, Inc. Reports Results for the Quarter Ended September 30, 2024

POUGHKEEPSIE, NY / ACCESSWIRE / September 27, 2024 / Rhinebeck Bancorp, Inc. (NASDAQ:RBKB) (the "Company"), the parent company of Rhinebeck Bank (the "Bank"), announced the sale of a significant portion of its available-for-sale investment securities portfolio as part of a strategic balance sheet repositioning. In September 2024, the Bank sold $71 million of available-for-sale securities.

Rhinebeck Bancorp, Inc. Completes Balance Sheet Restructuring

POUGHKEEPSIE, NY / ACCESSWIRE / July 25, 2024 / Rhinebeck Bancorp, Inc. (the "Company") (NASDAQ:RBKB), the holding company of Rhinebeck Bank (the "Bank"), reported net income for the three months ended June 30, 2024 of $975,000 ($0.09 per basic and diluted share), which was $456,000, or 31.9% less than the comparable prior year period of $1.4 million ($0.13 per basic and diluted share). Net income for the six months ended June 30, 2024 of $2.1 million ($0.19 per basic and diluted share) was $133,000, or 6.0%, less than the same period last year.

Rhinebeck Bancorp, Inc. Reports Results for the Quarter Ended June 30, 2024

POUGHKEEPSIE, NY / ACCESSWIRE / June 25, 2024 / Rhinebeck Bancorp, Inc. (NASDAQ:RBKB), the holding company of Rhinebeck Bank, announced the appointment of Kevin Nihill as Chief Financial Officer of Rhinebeck Bancorp and Rhinebeck Bank. Nihill replaced former Chief Financial Officer, Michael McDermott, who retired from the Bank after 23 years of service.

Rhinebeck Bancorp Announces Appointment of Kevin Nihill as Chief Financial Officer

POUGHKEEPSIE, NY / ACCESSWIRE / April 25, 2024 / Rhinebeck Bancorp, Inc. (the "Company") (NASDAQ:RBKB), the holding company of Rhinebeck Bank (the "Bank"), reported net income for the three months ended March 31, 2024 of $1.1 million ($0.10 per basic and diluted share), which was $323,000, or 40.5%, higher than the comparable prior year period of $798,000 ($0.07 per basic and diluted share). The increase in net income for the quarter ended March 31, 2024 was primarily due to an increase in non-interest income and decreases in the provision for credit losses and non-interest expenses, partially offset by a decrease in net interest income, as compared to the quarter ended March 31, 2023.

Rhinebeck Bancorp, Inc. Reports Results for the Quarter Ended March 31, 2024

POUGHKEEPSIE, NY / ACCESSWIRE / January 25, 2024 / Rhinebeck Bancorp, Inc. (the "Company") (NASDAQ:RBKB), the holding company of Rhinebeck Bank (the "Bank"), reported net income for the three months ended December 31, 2023 of $930,000 ($0.09 per basic and diluted share), which was $122,000, or 15.1%, higher than the comparable prior year period. Net income for the year ended December 31, 2023 of $4.4 million ($0.41 per basic and $0.40 per diluted share) was $2.6 million, or 37.2%, less than the prior year.

Rhinebeck Bancorp, Inc. Reports Results for the Quarter and Year Ended December 31, 2023

POUGHKEEPSIE, NY / ACCESSWIRE / October 26, 2023 / Rhinebeck Bancorp, Inc. (the "Company") (NASDAQ:RBKB), the holding company of Rhinebeck Bank (the "Bank"), reported net income for the three months ended September 30, 2023 of $1.2 million ($0.12 per basic and $0.11 per diluted share), which was $871,000, or 41.3%, less than the comparable prior year period. Net income for the nine months ended September 30, 2023 of $3.5 million ($0.32 per basic and diluted share), was $2.7 million, or 44.0%, less than the same period last year.

Rhinebeck Bancorp, Inc. Reports Results for the Three and Nine Months Ended September 30, 2023

POUGHKEEPSIE, NY / ACCESSWIRE / July 27, 2023 / Rhinebeck Bancorp, Inc. (the "Company") (NASDAQ:RBKB), the holding company of Rhinebeck Bank (the "Bank"), reported net income for the three months ended June 30, 2023 of $1.4 million ($0.13 per basic and diluted share), which was $598,000, or 29.5%, less than the comparable prior year period. Net income for the six months ended June 30, 2023 of $2.2 million ($0.21 per basic and $0.20 per diluted share), was $1.9 million, or 45.4%, less than the same period last year.

Rhinebeck Bancorp, Inc. Reports Results for the Three and Six Months Ended June 30, 2023

POUGHKEEPSIE, NY / ACCESSWIRE / April 27, 2023 / Rhinebeck Bancorp, Inc. (the "Company") (NASDAQ:RBKB), the holding company of Rhinebeck Bank (the "Bank"), reported net income for the three months ended March 31, 2023 of $798,000 ($0.07 per basic and diluted share), which was $1.3 million, or 61.1%, less than the comparable prior year period. The decrease in net income was primarily due to an increase in the provision for credit losses on loans of $793,000 for the three months ended March 31, 2023 and a decrease in net interest income accompanied by a reduction in non-interest income and an increase in non-interest expense.

Rhinebeck Bancorp, Inc. Reports Results for the Quarter Ended March 31, 2023

POUGHKEEPSIE, NY / ACCESSWIRE / January 26, 2023 / Rhinebeck Bancorp, Inc. (the "Company") (NASDAQ:RBKB), the holding company of Rhinebeck Bank (the "Bank"), reported net income for the three months ended December 31, 2022 of $808,000 ($0.07 per basic and diluted share), which was $2.2 million, or 72.9%, less than the comparable prior year period. Net income for the year ended December 31, 2022 of $7.0 million ($0.65 per basic and $0.64 per diluted share) was $4.6 million, or 39.5%, less than the prior year.

Rhinebeck Bancorp, Inc. Reports Results for the Quarter and Year Ended December 31, 2022

POUGHKEEPSIE, N.Y. , Oct. 27, 2022 /PRNewswire/ -- Rhinebeck Bancorp, Inc. (the "Company") (NASDAQ: RBKB), the holding company of Rhinebeck Bank (the "Bank"), reported net income for the three months ended September 30, 2022 of $2.1 million ($0.19 per basic and diluted share), which was $578,000, or 21.5%, less than the comparable prior year period.

Rhinebeck Bancorp, Inc. Reports Results for the Three and Nine Months Ended September 30, 2022

POUGHKEEPSIE, N.Y. , Oct. 6, 2022 /PRNewswire/ -- Rhinebeck Bancorp, Inc. (the "Company") (NASDAQ: RBKB), the holding company of Rhinebeck Bank (the "Bank"), reported the Bank and the New York State Department of Financial Services ("DFS") reached a settlement regarding claims based on DFS's detection of statistical differences in dealer reserve (i.e.

Rhinebeck Bank Reaches Settlement with NYS DFS

POUGHKEEPSIE, N.Y. , Sept. 15, 2022 /PRNewswire/ -- Rhinebeck Bancorp, Inc. (the "Company") (Nasdaq: RBKB), the holding company for Rhinebeck Bank, announced it has adopted a program to repurchase up to 247,506 shares of its common stock, which is approximately 5% of its outstanding common stock (excluding shares held by Rhinebeck Bancorp, MHC).

RHINEBECK BANCORP, INC. ANNOUNCES ADOPTION OF REPURCHASE PROGRAM

POUGHKEEPSIE, N.Y. ,  July 28, 2022 /PRNewswire/ -- Rhinebeck Bancorp, Inc. (the "Company") (NASDAQ: RBKB), the holding company of Rhinebeck Bank (the "Bank"), reported net income for the three months ended June 30, 2022 of $2.0 million ($0.19 per basic and $0.18 per diluted share), which was $536,000, or 20.9%, less than the comparable prior year period.

Rhinebeck Bancorp, Inc. Reports Results for the Three and Six Months Ended June 30, 2022

POUGHKEEPSIE, N.Y. , April 28, 2022 /PRNewswire/ -- Rhinebeck Bancorp, Inc. (the "Company") (NASDAQ: RBKB), the holding company of Rhinebeck Bank (the "Bank"), reported net income for the three months ended March 31, 2022 of $2.1 million ($0.19 per basic and diluted share), compared with $3.3 million ($0.31 per basic and diluted share) for the comparable prior year period, which was a decrease of $1.2 million, or 38.2%.

Rhinebeck Bancorp, Inc. Reports Results for the Quarter Ended March 31, 2022

POUGHKEEPSIE, N.Y., Jan. 27, 2022 /PRNewswire/ -- Rhinebeck Bancorp, Inc. (the "Company") (NASDAQ: RBKB), the holding company of Rhinebeck Bank (the "Bank"), reported net income for the three months ended December 31, 2021 of $3.0 million ($0.28 per basic and $0.27 per diluted share), compared with $2.3 million ($0.22 per basic and diluted share) for the comparable prior year period, which was an increase of $643,000, or 27.4%.

Rhinebeck Bancorp, Inc. Reports Results for the Quarter and Year Ended December 31, 2021

POUGHKEEPSIE, N.Y., Oct. 28, 2021 /PRNewswire/ -- Rhinebeck Bancorp, Inc. (the "Company") (NASDAQ: RBKB), the holding company of Rhinebeck Bank (the "Bank"), reported net income for the three months ended September 30, 2021 of $2.7 million ($0.25 per basic and diluted share), which was $1.5 million, or 133.5%, more than the comparable prior year period, and net income for the nine months ended September 30, 2021 of $8.6 million ($0.80 per basic and $0.79 per diluted share), which was $5.0 million, or 139.9%, greater than the same period last year.

Rhinebeck Bancorp, Inc. Reports Results for the Three and Nine Months Ended September 30, 2021

POUGHKEEPSIE, N.Y., July 29, 2021 /PRNewswire/ -- Rhinebeck Bancorp, Inc. (the "Company") (NASDAQ: RBKB), the holding company of Rhinebeck Bank (the "Bank"), reported net income for the three months ended June 30, 2021 of $2.6 million ($0.24 per basic and $0.23 per diluted share), which was $1.2 million, or 90.3%, more than the comparable prior year period, and net income for the six months ended June 30, 2021 of $5.9 million ($0.55 per basic and $0.54 per diluted share), which was $3.5 million, or 142.9%, greater than the same period last year.

Rhinebeck Bancorp, Inc. Reports Results for the Three and Six Months Ended June 30, 2021

ALBANY, N.Y., June 9, 2021 /PRNewswire/ -- Rhinebeck Bank, the wholly-owned subsidiary of Rhinebeck Bancorp, Inc. (NASDAQ: RBKB), has expanded its presence in the Capital District with a new Commercial Lending office in the Albany market.

Rhinebeck Bank expands Commercial Lending Team into Albany market

POUGHKEEPSIE, N.Y., June 2, 2021 /PRNewswire/ -- Rhinebeck Bank, the wholly-owned subsidiary of Rhinebeck Bancorp, Inc. (NASDAQ: RBKB), has promoted Philip J.

Rhinebeck Bank promotes Philip J. Bronzi to Chief Lending Officer

POUGHKEEPSIE, N.Y., April 29, 2021 /PRNewswire/ -- Rhinebeck Bancorp, Inc. (the "Company") (NASDAQ: RBKB), the holding company of Rhinebeck Bank (the "Bank"), reported net income for the three months ended March 31, 2021 of $3.3 million ($0.31 per basic and diluted share), compared with $1.1 million ($0.10 per basic and diluted share) for the comparable prior year period, which was an increase of $2.2 million, or 208.9%.

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