Rhinebeck Bancorp Inc
For the period ended Dec 31, 2023. Filed Mar 26, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Mar 26, 2024
RBKB$13.26-0.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Financial Condition
| | | | | | | |
|---|---|---|---|---|---|---|
| · · December 31, | ||||||
| | | 2023 | 2022 | |||
| Assets | | | | | | |
| Cash and due from banks | | $14,178 | | $13,294 | ||
| Federal funds sold | | | 7,524 | | | 14,569 |
| Interest bearing depository accounts | | | 427 | | | 3,521 |
| Total cash and cash equivalents | | | 22,129 | | | 31,384 |
| | | | | | | |
| Available for sale securities (at fair value) | | 191,985 | | 223,659 | ||
| Loans receivable (net of allowance for credit losses of $8,124 and $7,943, respectively) | | 1,008,851 | | 994,368 | ||
| Federal Home Loan Bank stock | | 6,514 | | 3,258 | ||
| Accrued interest receivable | | 4,616 | | 4,255 | ||
| Cash surrender value of life insurance | | 30,031 | | 29,794 | ||
| Deferred tax assets (net of valuation allowance of $598 and $450, respectively) | | 9,936 | | 10,131 | ||
| Premises and equipment, net | | 17,567 | | 18,722 | ||
| Other real estate owned | | 25 | | — | ||
| Goodwill | | 2,235 | | 2,235 | ||
| Intangible assets, net | | 246 | | 334 | ||
| Other assets | | 19,067 | | 17,837 | ||
| Total assets | | $1,313,202 | | $1,335,977 | ||
| Liabilities and Stockholders’ Equity | | | ||||
| Liabilities | | | ||||
| Deposits | | | ||||
| Non-interest bearing | | $249,793 | | $283,563 | ||
| Interest bearing | | 780,710 | | 846,370 | ||
| Total deposits | | 1,030,503 | | 1,129,933 | ||
| | | | | | | |
| Mortgagors’ escrow accounts | | 9,274 | | 9,732 | ||
| Advances from the Federal Home Loan Bank | | 128,064 | | 57,723 | ||
| Subordinated debt | | 5,155 | | 5,155 | ||
| Accrued expenses and other liabilities | | 26,521 | | 25,302 | ||
| Total liabilities | | 1,199,517 | | 1,227,845 | ||
| | | | | | | |
| Stockholders’ Equity | | | ||||
| Preferred stock (par value $0.01 per share; 5,000,000 authorized, no shares issued) | | | — | | | — |
| Common stock (par value $0.01; authorized 25,000,000; issued and outstanding 11,072,607 and 11,284,565 at December 31, 2023 and December 31, 2022, respectively) | | 111 | | 113 | ||
| Additional paid-in capital | | 45,959 | | 47,075 | ||
| Unearned common stock held by the employee stock ownership plan | | | (3,273) | | | (3,491) |
| Retained earnings | | 100,386 | | 96,624 | ||
| Accumulated other comprehensive loss: | | | | | ||
| Net unrealized loss on available for sale securities, net of taxes | | (26,077) | | (28,191) | ||
| Defined benefit pension plan, net of taxes | | (3,421) | | (3,998) | ||
| Total accumulated other comprehensive loss | | (29,498) | | (32,189) | ||
| Total stockholders’ equity | | 113,685 | | 108,132 | ||
| Total liabilities and stockholders’ equity | | $1,313,202 | | $1,335,977 | ||
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