Rhinebeck Bancorp Q3 net income down 21.5% to $2.1M, provision expense rises

Rhinebeck Bancorp, Inc.

2022-Q3 EPS reported $0.56 revenue$2,125,000

Net income $2.1M ($0.19/share) vs $2.7M prior year; net interest income up 10.3% to $11.1M.
Provision for loan losses expense $545K vs credit of $954K in prior year quarter, driven by indirect auto loan growth.
Total assets $1.29B (+0.9% vs Dec 2021); net loans up 11.3% led by indirect auto +18.5%.
Settlement with NY DFS for $1.45M (penalty + restitution) fully reserved; no further material impact.
Non-interest income down 15.3% on lower mortgage sales; non-interest expense up 1.1%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Rhinebeck Bancorp, Inc. reported three and nine months ended September 30, 2022 results: net income $2.1 million ($0.19 per basic and diluted share).

Period: three and nine months ended September 30, 2022
Net income: $2.1 million ($0.19 per basic and diluted share)
Result: reported results

Exact text from the filing

Rhinebeck Bancorp, Inc. issued a press release announcing 2022 third quarter financial results.

View on SEC.gov

8 earnings releases filed in the last 30 days. Browse all earnings releases →

Rhinebeck Bancorp, Inc. filing history →

Source: SEC EDGAR

accession 0001751783-22-000039

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.