secwatch.observer — SEC 8-K summary
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Issuer:     Rhinebeck Bancorp, Inc. (RBKB)
CIK:        0001751783
Form:       8-K
Filed at:   2022-10-27T23:59:59+00:00
Accession:  0001751783-22-000039
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1751783/000175178322000039/0001751783-22-000039-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1751783/000175178322000039/rbkb-20221027x8k.htm
  HTML page:      https://secwatch.observer/filing/0001751783-22-000039

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