Rhinebeck Bancorp, Inc.
For the period ended Dec 31, 2024. Filed Mar 25, 2025.
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FY2024 · Filed Mar 25, 2025
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, | ||||||
| | | 2024 | 2023 | |||
| Interest and Dividend Income | | | | | | |
| Interest and fees on loans | | $58,371 | | $55,077 | ||
| Interest and dividends on securities | | 4,274 | | 4,409 | ||
| Other income | | 1,113 | | 1,173 | ||
| Total interest and dividend income | | 63,758 | | 60,659 | ||
| Interest Expense | | | ||||
| Interest expense on deposits | | 21,294 | | 17,617 | ||
| Interest expense on borrowings | | 4,233 | | 5,077 | ||
| Total interest expense | | 25,527 | | 22,694 | ||
| Net interest income | | 38,231 | | 37,965 | ||
| Provision for Credit Losses | | 2,800 | | 1,702 | ||
| Net interest income after provision for credit losses | | 35,431 | | 36,263 | ||
| Non-interest (Loss) Income | | | ||||
| Service charges on deposit accounts | | 3,002 | | 2,880 | ||
| Net realized loss on sales of securities | | (16,041) | | — | ||
| Net gain on sales of loans | | 160 | | 118 | ||
| Increase in cash surrender value of life insurance | | 751 | | 665 | ||
| Net gain from sale of other real estate owned | | 4 | | — | ||
| Net (loss) gain on disposal of premises and equipment | | (18) | | 46 | ||
| Gain on life insurance | | 413 | | 221 | ||
| Investment advisory income | | 1,532 | | 1,164 | ||
| Other | | 677 | | 686 | ||
| Total non-interest (loss) income | | (9,520) | | 5,780 | ||
| Non-interest Expense | | | ||||
| Salaries and employee benefits | | 20,372 | | 19,459 | ||
| Occupancy | | 4,266 | | 4,256 | ||
| Data processing | | 2,041 | | 2,015 | ||
| Professional fees | | 1,930 | | 1,919 | ||
| Marketing | | 588 | | 555 | ||
| FDIC deposit insurance and other insurance | | 1,105 | | 1,232 | ||
| Other real estate owned expense | | — | | 3 | ||
| Amortization of intangible assets | | 80 | | 88 | ||
| Write-down on branch held-for-sale | | — | | 375 | ||
| Other | | 6,466 | | 6,527 | ||
| Total non-interest expense | | 36,848 | | 36,429 | ||
| Net (loss) income before income taxes | | (10,937) | | 5,614 | ||
| Net (Benefit) Provision for Income Taxes | | (2,317) | | 1,219 | ||
| Net (loss) income | | $(8,620) | | $4,395 | ||
| | | | | | | |
| Earnings (loss) per common share: | | | | | | |
| Basic | | $(0.80) | | $0.41 | ||
| Diluted | | $(0.80) | | $0.40 | ||
| | | | | | | |
| Weighted average shares outstanding, basic | | | 10,757,750 | | | 10,789,009 |
| Weighted average shares outstanding, diluted | | | 10,757,750 | | | 10,855,552 |
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