RBKB

POUGHKEEPSIE, NY / ACCESS Newswire / April 23, 2026 / 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, 2026 of $2.2 million ($0.20 per basic and diluted share), which was $72,000, or 3.1%, lower than the comparable prior year period of $2.3 million ($0.21 per basic and diluted share). The decrease in net income for the quarter ended March 31, 2026 as compared to the quarter ended March 31, 2025 was primarily due to a decrease in non-interest income and an increase in non-interest expense, offset by a decrease in the provision for credit losses and an increase in net interest income. The Company's return on average assets and return on average equity were 0.70% and 6.50% for the first quarter of 2026, respectively, as compared to 0.73% and 7.49% for the first quarter of 2025, respectively. President and Chief Executive Officer Matthew Smith said, "We delivered a solid first quarter, with results demonstrating continued earnings stability. Return on average assets was 0.70%, supported by consistent net interest income and effective expense control. Net interest margin remained strong at 3.77% for the quarter, reflecting ongoing balance sheet discipline and stable funding costs. During the quarter, deposits showed positive momentum, including meaningful growth in March, while loan production continues to face headwinds due to competitive pricing pressure. Credit quality continues to perform well, with low levels of non-performing assets and net charge-offs during the period. Our capital and liquidity positions remain robust and provide flexibility as we advance key strategic initiatives, including the pending second step conversion. We remain well positioned for the remainder of the year and focused on delivering consistent performance." Income Statement Analysis Net interest income increased $157,000, or 1.4%, to $11.2 million for the three months ended March 31, 2026, from $11.0 million for the three months ended March 31, 2025. The increase was primarily due to lower costs on interest-bearing liabilities, partially offset by lower yields on interest-earning assets. The net interest margin decreased by two basis points to 3.77% and the interest rate spread improved two basis points from 3.13% for the three months ended March 31, 2025 to 3.15% for...

POUGHKEEPSIE, NY / ACCESS Newswire / January 29, 2026 / Rhinebeck Bancorp, Inc. (the "Company") (NASDAQ:RBKB), the holding company of Rhinebeck Bank (the "Bank"), reported net income for the fourth quarter of 2025 of $2.3 million, compared to net income of $2.7 million for the third quarter of 2025 and a net loss of $2.7 million for the fourth quarter of 2024. Diluted earnings per share were $0.21 for the fourth quarter of 2025, compared to earnings per share of $0.25 for the third quarter of 2025 and diluted loss per share of $0.25 for the same quarter of 2024. Net income for the year ended December 31, 2025 totaled $10.0 million, compared to a net loss of $8.6 million for last year. Diluted earnings per share were $0.92 and diluted loss per share was $0.80 for the years ended December 31, 2025 and 2024, respectively. The results for the quarter and year-ended December 31, 2024 reflected $4.0 million and $16.0 million of loss on the sale of securities, respectively, from the previously disclosed balance sheet restructurings. President and Chief Executive Officer Matthew Smith said, "We are pleased to report a strong turnaround in profitability in 2025, highlighted by full-year net income of $10.0 million and a return on average assets of 0.78%. Our 2025 results reflect disciplined balance sheet management, improved operating efficiency, and margin expansion in a challenging interest rate environment. Net interest margin increased to 3.89% for the year, driven by prudent pricing strategies and stable funding costs, while our efficiency ratio improved meaningfully to 73.12%. Asset quality remains strong, with non-performing assets at just 0.28% of total assets. We enter 2026 with a solid capital position, strong liquidity, and a continued focus on supporting our customers and communities while delivering sustainable value to shareholders." Income Statement Analysis Net interest income increased $1.7 million, or 16.3%, to $11.8 million for the three months ended December 31, 2025, from $10.2 million for the three months ended December 31, 2024. Net interest income for the three months ended September 30, 2025 was $12.0 million. The increase over prior year was primarily due to higher yields, higher average balances of interest-earning assets and lower costs on interest-bearing liabilities, partially offset by an increase in the average balance of interest-bear...

POUGHKEEPSIE, NY / ACCESS Newswire / October 28, 2025 / Rhinebeck Bancorp, Inc. (the "Company") (NASDAQ:RBKB), the holding company of Rhinebeck Bank (the "Bank"), reported net income for the third quarter of 2025 of $2.7 million, compared to a net loss of $8.1 million for the third quarter of 2024. Earnings per share were $0.25 for the third quarter of 2025, compared to diluted loss per share of $0.75 for the same quarter of 2024. Net income for the first nine months of 2025 totaled $7.7 million, compared to a net loss of $6.0 million for the same period last year. Earnings per share were $0.70 and diluted loss per share was $0.55 for the first nine months of 2025 and 2024, respectively. The results for the three and nine months ended September 30, 2024, reflected the sale of securities from a balance sheet restructuring. The restructuring, announced in the third quarter of 2024, resulted in a pre-tax loss of $12.0 million. The restructuring decreased the average life of the securities portfolio, and improved the Company's earnings stream going forward, beginning in the fourth quarter of 2024. President and Chief Executive Officer Matthew Smith said, "I am honored to step into the role of CEO at such a pivotal time for our organization. The recent progress we've made-returning to profitability, strengthening our capital position, and enhancing asset quality-speaks to the resilience and dedication of our team. As we look ahead, my focus will be on building sustainable growth, deepening our client relationships, and driving innovation while maintaining strong risk discipline. Together, we will continue to create long-term value for our shareholders, customers, and communities." Income Statement Analysis Net interest income increased $2.4 million, or 24.5%, to $12.0 million for the three months ended September 30, 2025, from $9.7 million for the three months ended September 30, 2024. The increase was primarily due to higher yields on interest-earning assets and lower costs on interest-bearing liabilities. A $394,000 recovery on impaired accounts also contributed to the increase. The interest rate spread improved 77 basis points from 2.50% for the three months ended September 30, 2024 to 3.27% for the three months ended September 30, 2025, as asset yields increased while liability costs decreased. For the three months ended September 30, 2025, when compared to t...

POUGHKEEPSIE, NY / ACCESS Newswire / July 24, 2025 / 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, 2025 of $2.7 million ($0.25 per basic and diluted share), which was $1.8 million, or 179.6%, higher than the comparable prior year period of $975,000 ($0.09 per basic and diluted share). Net income for the six months ended June 30, 2025 of $5.0 million ($0.47 per basic and $0.46 per diluted share) was $2.9 million, or 139.2%, higher than the same period last year. The increase in net income for the quarter ended June 30, 2025 as compared to the quarter ended June 30, 2024 was primarily due to increases in net interest income and a decrease in the provision for credit losses, partially offset by an increase non-interest expense. The Company's return on average assets and return on average equity were 0.88% and 8.57% for the second quarter of 2025, respectively, as compared to 0.31% and 3.43% for the second quarter of 2024, respectively. The increase in net income for the six months ended June 30, 2025 when compared to the six months ended June 30, 2024 was primarily due to an increase in net interest income, a decrease in the provision for credit losses, and an increase in non-interest income, partially offset by an increase in non-interest expense. The Company's return on average assets and return on average equity were 0.80% and 8.04% for the first six months of 2025, respectively, as compared to 0.32% and 3.67% for the first six months of 2024, respectively. President and Chief Executive Officer Michael J. Quinn said, "We're very pleased with our performance through the first half of 2025, as net income more than doubled to $5.0 million compared to $2.1 million in the prior year period, our net interest margin expanded to 3.88%, and our return on average equity improved to 8.04%, reflecting strong asset-liability management and disciplined operating execution. We also saw continued improvement in credit quality, with non-performing assets declining 30% and net charge-offs totaling just 0.06% of average loans. With our Tier 1 capital ratio at 12.66% and tangible book value per share rising to $11.40, we remain well-capitalized and confident in our ability to deliver sustainable growth and value for shareholders." Income Statement Analysis Net in...

POUGHKEEPSIE, NY / ACCESS Newswire / April 24, 2025 / 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, 2025 of $2.3 million ($0.21 per basic and diluted share), which was $1.2 million, or 104.1%, higher than the comparable prior year period of $1.1 million ($0.10 per basic and diluted share). The increase in net income for the quarter ended March 31, 2025 as compared to the quarter ended March 31, 2024 was primarily due to increases in net interest income and non-interest income, partially offset by increases in the provision for credit losses and non-interest expense. The Company's return on average assets and return on average equity were 0.73% and 7.49% for the first quarter of 2025, respectively, as compared to 0.34% and 3.92% for the first quarter of 2024, respectively. President and Chief Executive Officer Michael J. Quinn said, "We're very pleased with our first quarter results, which saw earnings more than double to $2.3 million from $1.1 million a year ago. This performance reflects the positive impact of the balance sheet restructuring we executed in the second half of 2024, which took advantage of the interest rate environment. As a result, we delivered significant expansion in both our interest rate spread, up from 2.19% to 3.13%, and our net interest margin, which increased from 2.90% to 3.79%. Profitability metrics improved across the board, with return on average assets rising to 0.73% and return on average equity reaching 7.49%. We also drove meaningful improvement in operating efficiency and maintained strong credit quality. We believe these results set a solid foundation for continued growth as we move through 2025." Income Statement Analysis Net interest income increased $2.2 million, or 25.2%, to $11.0 million for the three months ended March 31, 2025, from $8.8 million for the three months ended March 31, 2024. The increase was primarily due to higher yields on interest earning assets and lower costs on interest bearing liabilities. Interest rate spread improved 94 basis points from 2.19% for the three months ended March 31, 2024 to 3.13% for the three months ended March 31, 2025, reflecting better pricing on assets versus liabilities. A balance sheet restructuring in the second half of 2024 significantly increased the yield...