secwatch.observer — SEC 8-K summary
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Issuer:     Rhinebeck Bancorp, Inc. (RBKB)
CIK:        0001751783
Form:       8-K
Filed at:   2022-04-28T23:59:59+00:00
Accession:  0001751783-22-000014
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Rhinebeck Bancorp Q1 net income down 38% to $2.1M; EPS $0.19 vs $0.31
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- Net income $2.1M ($0.19 per share) vs $3.3M ($0.31 per share) in Q1 2021, a decrease of 38%.
- Net interest income up 3.4% to $10.1M; net interest margin down 23 bps to 3.42%.
- Non-interest expense up 14.5% to $9.1M, driven by salaries/benefits from four new branches and branch expansion.
- Provision for loan losses swung to $221K expense from $69K credit in prior year; net charge-offs fell to $80K.
- Stockholders' equity down 6.9% to $117.3M due to $10.9M increase in unrealized securities losses.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1751783/000175178322000014/0001751783-22-000014-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1751783/000175178322000014/rbkb-20220428x8k.htm
  HTML page:      https://secwatch.observer/filing/0001751783-22-000014

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