secwatch.observer — SEC 8-K summary
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Issuer:     Rhinebeck Bancorp, Inc. (RBKB)
CIK:        0001751783
Form:       8-K
Filed at:   2021-07-29T23:59:59+00:00
Accession:  0001751783-21-000032
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Rhinebeck Bancorp reports Q2 net income $2.6M, up 90% YoY; provision credit of $1.1M
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- Net income Q2 2021 $2.6M ($0.24 diluted) vs $1.4M a year ago; H1 net income $5.9M ($0.54 diluted), up 143%.
- Provision for loan losses swung to a $1.1M credit in Q2 from $2.3M expense in Q2 2020; credit $1.2M for H1.
- Total assets $1.21B (+7.2% from Dec 2020); deposits $1.03B (+10.5%); capital ratios strong (T1 Leverage 9.69%).
- Completed branch acquisition from ConnectOne Bank assumed $33.9M deposits; PPP loans $74.3M outstanding at June 30.
- Non-interest expense rose 31.2% to $8.9M in Q2 due to branch expansion, salaries, and a reserve for indirect auto compliance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1751783/000175178321000032/0001751783-21-000032-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1751783/000175178321000032/rbkb-20210729x8k.htm
  HTML page:      https://secwatch.observer/filing/0001751783-21-000032

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer