secwatch.observer — SEC 8-K summary
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Issuer:     Rhinebeck Bancorp, Inc. (RBKB)
CIK:        0001751783
Form:       8-K
Filed at:   2022-01-27T23:59:59+00:00
Accession:  0001751783-22-000003
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Rhinebeck Bancorp Q4 net income $3.0M; FY2021 record $11.6M, up 95%
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- Net income Q4 2021 $3.0M ($0.28 basic EPS) vs $2.3M in Q4 2020, up 27.4%.
- FY2021 net income $11.6M ($1.07 basic EPS) vs $5.9M, up 95.3%.
- Provision for loan losses: $1.5M credit in Q4 2021 vs $1.4M provision in Q4 2020; full year credit $3.7M vs $7.1M provision.
- Acquired two branches from ConnectOne Bank ($33.9M deposits) and opened two new branches in 2021.
- Recorded $600K reserve for potential consumer compliance issues in indirect auto portfolio; additional reserves possible.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1751783/000175178322000003/0001751783-22-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1751783/000175178322000003/rbkb-20220127x8k.htm
  HTML page:      https://secwatch.observer/filing/0001751783-22-000003

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