Rhinebeck Bancorp, Inc. operates as the bank holding company for Rhinebeck Bank that provides banking and financial products and services to consumer and commercial customers in the Hudson Valley region of New York. The company offers deposits; automobile loans; commercial real estate loans, including multi-family real estate loans, commercial construction, and land development loans; commercial business loans; and one-to four-family residential real estate loans. It also provides brokerage and financial services; and life insurance and investment products to individuals and businesses. As of October 29, 2020, the company operated through 11 branches and 2 representative offices in Dutchess, Ulster, Orange, and Albany counties. It also operates ATM located in Tivoli, New York. The company was founded in 1860 and is based in Poughkeepsie, New York. Rhinebeck Bancorp, Inc. operates as a subsidiary of Rhinebeck Bancorp, MHC.
IPO Year: 2019
Exchange: NASDAQ
Website: rhinebeckbank.com
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. Net loss for the first nine months of 2024 totaled $6.0 million, compared to net income of $3.5 million for the same period last year. Diluted (loss) earnings per share was $(0.55) and $0.32 for the first nine months of 2024 and 2023, respectively. Both the results for t
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. The proceeds from these sales were reinvested into new securities offering yields that were 3.11% higher than those of the securities sold. This restructuring had no impact on tangible equity and allows the Bank to improve its earnings stream going forward. The transaction is projected to increase earnings p
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.The decrease in net income for the quarter ended June 30, 2024 was primarily due to an increase in the provision for credit losses and a decrease in
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.Nihill brings a wealth of banking and corporate finance experience to his new role, having most recently served as Executive Vice President, Chief Financial Officer at St. Mary's Bank, a credit union in Manchester, NH. His career experience also includes service as Senior Vice President, Treasurer at Berkshire Bank, headquartered in Pittsfiel
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. The Co
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.The increase in net income for the quarter ended December 31, 2023 was primarily due to an increase in non-interest income and decreases in the provision for credit losses and non-interest
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.The decrease in net income was primarily due to a decrease in net interest income and an increase in the provision for credit losses. The Company's return on average
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.The decrease in net income was primarily due to a decrease in net interest income accompanied by a reduction in non-interest income. The Company's return on average assets and retu
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. The Company's return on average assets and return on average equity w
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.The decrease in net income was primarily due to an increase in the provision for loan losses of $1.8 million and $5.1 million for the three months and year ended December 31, 2022, respec
Rhinebeck Bancorp (NASDAQ:RBKB) reported quarterly earnings of $0.10 per share. This is a 42.86 percent increase over earnings of $0.07 per share from the same period last year.
Rhinebeck Bancorp (NASDAQ:RBKB) reported quarterly earnings of $0.11 per share. This is a 42.11 percent decrease over earnings of $0.19 per share from the same period last year.
Rhinebeck Bancorp (NASDAQ:RBKB) reported quarterly earnings of $0.13 per share. This is a 27.78 percent decrease over earnings of $0.18 per share from the same period last year.
Rhinebeck Bancorp (NASDAQ:RBKB) reported quarterly earnings of $0.07 per share. This is a 63.16 percent decrease over earnings of $0.19 per share from the same period last year.
Rhinebeck Bancorp (NASDAQ:RBKB) reported quarterly earnings of $0.07 per share. This is a 74.07 percent decrease over earnings of $0.27 per share from the same period last year.
Rhinebeck Bancorp (NASDAQ:RBKB) reported quarterly earnings of $0.19 per share. This is a 24 percent decrease over earnings of $0.25 per share from the same period last year.
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., dealer markup) charged by automobile dealers to different borrower groups on loans purchased by the Bank through its indirect automobile lending program. While the Bank does not agree with the findings and denies the allegations, it agreed to a settlement so as not to engage in a lengthy and costly legal challenge. "This settlement reflects a
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). This is the Company's first stock repurchase program since completing its mutual holding company reorganization and related stock offering in January 2019. Repurchases are expected to commence after the Company publicly releases its results of operations for the period ended September 30, 2022. Shares may be repurchased in open market or private transactions or pursuant to any trading
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. Net loss for the first nine months of 2024 totaled $6.0 million, compared to net income of $3.5 million for the same period last year. Diluted (loss) earnings per share was $(0.55) and $0.32 for the first nine months of 2024 and 2023, respectively. Both the results for t
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.The decrease in net income for the quarter ended June 30, 2024 was primarily due to an increase in the provision for credit losses and a decrease in
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. The Co
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.The increase in net income for the quarter ended December 31, 2023 was primarily due to an increase in non-interest income and decreases in the provision for credit losses and non-interest
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.The decrease in net income was primarily due to a decrease in net interest income and an increase in the provision for credit losses. The Company's return on average
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.The decrease in net income was primarily due to a decrease in net interest income accompanied by a reduction in non-interest income. The Company's return on average assets and retu
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. The Company's return on average assets and return on average equity w
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.The decrease in net income was primarily due to an increase in the provision for loan losses of $1.8 million and $5.1 million for the three months and year ended December 31, 2022, respec
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. Net income for the nine months ended September 30, 2022 of $6.2 million ($0.57 per basic and $0.56 per diluted share) was $2.4 million, or 27.8%, less than the same period last year. The decrease in net income was primarily due to a
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. Net income for the six months ended June 30, 2022 of $4.1 million ($0.38 per basic and $0.37 per diluted share), was $1.8 million, or 30.6%, less than the same period last year. The decrease in net income was primarily due to
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.Nihill brings a wealth of banking and corporate finance experience to his new role, having most recently served as Executive Vice President, Chief Financial Officer at St. Mary's Bank, a credit union in Manchester, NH. His career experience also includes service as Senior Vice President, Treasurer at Berkshire Bank, headquartered in Pittsfiel
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4 - Rhinebeck Bancorp, Inc. (0001751783) (Issuer)
4 - Rhinebeck Bancorp, Inc. (0001751783) (Issuer)
3 - Rhinebeck Bancorp, Inc. (0001751783) (Issuer)
4 - Rhinebeck Bancorp, Inc. (0001751783) (Issuer)
4 - Rhinebeck Bancorp, Inc. (0001751783) (Issuer)
4 - Rhinebeck Bancorp, Inc. (0001751783) (Issuer)
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SC 13G/A - Rhinebeck Bancorp, Inc. (0001751783) (Subject)