Rhinebeck Bancorp Inc
For the period ended Dec 31, 2023. Filed Mar 26, 2024.
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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 Income
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Years Ended December 31, | ||||||
| | | 2023 | 2022 | |||
| Interest and Dividend Income | | | | | | |
| Interest and fees on loans | | $55,077 | | $44,419 | ||
| Interest and dividends on securities | | 4,409 | | 3,848 | ||
| Other income | | 1,173 | | 325 | ||
| Total interest and dividend income | | 60,659 | | 48,592 | ||
| Interest Expense | | | ||||
| Interest expense on deposits | | 17,617 | | 5,611 | ||
| Interest expense on borrowings | | 5,077 | | 1,145 | ||
| Total interest expense | | 22,694 | | 6,756 | ||
| Net interest income | | 37,965 | | 41,836 | ||
| Provision for credit losses | | 1,702 | | 1,414 | ||
| Net interest income after provision for credit losses | | 36,263 | | 40,422 | ||
| Non-interest Income | | | ||||
| Service charges on deposit accounts | | 2,880 | | 2,829 | ||
| Net realized loss on sales and calls of securities | | — | | (170) | ||
| Net gain on sales of loans | | 118 | | 864 | ||
| Increase in cash surrender value of life insurance | | 665 | | 640 | ||
| Gain (loss) on disposal of premises and equipment | | 46 | | (38) | ||
| Gain on life insurance | | 221 | | — | ||
| Investment advisory income | | 1,164 | | 1,233 | ||
| Other | | 686 | | 538 | ||
| Total non-interest income | | 5,780 | | 5,896 | ||
| Non-interest Expense | | | ||||
| Salaries and employee benefits | | 19,459 | | 21,599 | ||
| Occupancy | | 4,256 | | 4,583 | ||
| Data processing | | 2,015 | | 1,882 | ||
| Professional fees | | 1,919 | | 1,743 | ||
| Marketing | | 555 | | 693 | ||
| FDIC deposit insurance and other insurance | | 1,232 | | 829 | ||
| Other real estate owned expense | | 3 | | — | ||
| Amortization of intangible assets | | 88 | | 99 | ||
| Write-down on branch held-for-sale | | 375 | | — | ||
| Other | | 6,527 | | 5,994 | ||
| Total non-interest expense | | 36,429 | | 37,422 | ||
| Income before income taxes | | 5,614 | | 8,896 | ||
| Provision for income taxes | | 1,219 | | 1,899 | ||
| Net income | | $4,395 | | $6,997 | ||
| | | | | | | |
| Earnings per common share: | | | | | | |
| Basic | | $0.41 | | $0.65 | ||
| Diluted | | $0.40 | | $0.64 | ||
| | | | | | | |
| Weighted average shares outstanding, basic | | | 10,789,009 | | | 10,839,335 |
| Weighted average shares outstanding, diluted | | | 10,855,552 | | | 11,004,597 |
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