secwatch.observer — SEC 8-K summary
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Issuer:     Rhinebeck Bancorp, Inc. (RBKB)
CIK:        0001751783
Form:       8-K
Filed at:   2021-10-28T23:59:59+00:00
Accession:  0001751783-21-000040
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Rhinebeck Bancorp Q3 net income $2.7M, up 134% YoY; credit to loan loss provision drives results
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- Net income $2.7M ($0.25/share) in Q3 2021, up 133.5% from $1.2M in Q3 2020; nine-month net income $8.6M, up 139.9%.
- Provision for loan losses recorded a credit of $954k in Q3 2021 vs. provision of $2.3M in prior year, reflecting improved credit quality.
- Net interest margin stable at 3.44% for nine months; total assets grew 11.9% to $1.26B; deposits up 17% to $1.09B.
- Company recorded $450k reserve for potential consumer compliance issues in indirect auto loan portfolio; further reserves possible.
- CEO expects slight loan growth in Q4 2021 and normalized growth in 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1751783/000175178321000040/0001751783-21-000040-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1751783/000175178321000040/rbkb-20211028x8k.htm
  HTML page:      https://secwatch.observer/filing/0001751783-21-000040

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