Rhinebeck Bancorp, Inc.
For the period ended Dec 31, 2024. Filed Mar 25, 2025.
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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.
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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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(Dollars in thousands, except share and per share data)
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Year Ended December 31, | ||||||
| | 2024 | 2023 | ||||
| Cash Flows from Operating Activities | | | | | | |
| Net (loss) income | | $(8,620) | | $4,395 | ||
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: | | | ||||
| Amortization and accretion of premiums and discounts on investments, net | | 45 | | 281 | ||
| Net realized loss on sales of securities | | 16,041 | | — | ||
| Net realized gain on sale of other real estate owned | | | (4) | | | — |
| Provision for credit losses | | 2,800 | | 1,702 | ||
| Loans originated for sale | | (6,757) | | (5,420) | ||
| Proceeds from sale of loans | | 7,825 | | 4,877 | ||
| Net gain on sale of loans | | (160) | | (118) | ||
| Amortization of intangible assets | | 80 | | 88 | ||
| Depreciation and amortization | | 1,343 | | 1,404 | ||
| Write-down on branch held for sale | | | — | | | 375 |
| Net loss (gain) from disposal of premises and equipment | | 18 | | (46) | ||
| Deferred income tax benefit | | (2,581) | | (352) | ||
| Increase in cash surrender value of insurance | | (751) | | (665) | ||
| Gain on life insurance | | | (413) | | | (221) |
| Net decrease in accrued interest receivable | | 181 | | (361) | ||
| Expense of earned ESOP shares | | 186 | | 162 | ||
| Share-based compensation expense | | | 19 | | | 396 |
| Net increase in other assets | | (4,280) | | (1,398) | ||
| Net increase in accrued expenses and other liabilities | | 3,498 | | 1,949 | ||
| Net cash provided by operating activities | | 8,470 | | 7,048 | ||
| Cash Flows from Investing Activities | | | ||||
| Proceeds from sales of securities | | 74,987 | | — | ||
| Proceeds from maturities and principal repayments of securities | | 32,137 | | 34,069 | ||
| Purchases of securities | | (71,429) | | — | ||
| Net purchases of FHLB Stock | | 2,554 | | (3,256) | ||
| Net decrease (increase) in loans | | 33,364 | | (16,157) | ||
| Purchases of bank owned life insurance | | (23) | | (23) | ||
| Purchases of bank premises and equipment | | (791) | | (578) | ||
| Proceeds from disposal of premises and equipment | | 2,892 | | — | ||
| Net proceeds from life insurance | | | 1,025 | | | 672 |
| Proceeds from sale of other real estate owned | | 29 | | (25) | ||
| Net cash provided by investing activities | | 74,745 | | 14,702 | ||
| Cash Flows from Financing Activities | | | ||||
| Net decrease in demand deposits, NOW, money market and savings accounts | | (29,313) | | (201,094) | ||
| Net increase in time deposits | | 19,593 | | 101,664 | ||
| Net increase (decrease) in mortgagors' escrow accounts | | 151 | | (458) | ||
| Net (decrease) increase. in short-term debt | | (33,550) | | 28,727 | ||
| Net (decrease) increase in long-term debt | | (24,741) | | 41,614 | ||
| Stock repurchase | | | — | | | (1,458) |
| Net cash used in financing activities | | (67,860) | | (31,005) | ||
| Net increase (decrease) in cash and cash equivalents | | 15,355 | | (9,255) | ||
| Cash and Cash Equivalents | | | ||||
| Beginning balance | | 22,129 | | 31,384 | ||
| Ending balance | | $37,484 | | $22,129 | ||
| Supplemental Disclosures of Cash Flow Information | | | ||||
| Cash paid for: | | | ||||
| Interest | | $26,078 | | $21,976 | ||
| Income taxes | | $874 | | $1,501 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.