---
schema_version: "secwatch.filing_event.v1"
accession: "0001751783-23-000016"
form_type: "8-K"
ticker: "RBKB"
cik: "0001751783"
company_name: "Rhinebeck Bancorp, Inc."
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T09:14:02.001467+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Rhinebeck Bancorp Q1 net income $798K, down 61% YoY on higher loan loss provision

## Summary
- Net income fell to $798K ($0.07 EPS) from $2.1M ($0.20 EPS) in Q1 2022; net interest income dipped 2.5% to $9.9M.
- Provision for credit losses surged to $1.0M (vs. $221K) including a $975K reserve on one commercial loan and the new CECL methodology.
- Deposits dropped 3.2% ($36.4M) in March amid the banking crisis; uninsured deposits were ~29% of total deposits.
- Net charge-offs rose to $413K (0.04% of avg loans) from $80K; non-performing loans increased $1.2M to $5.7M.
- Company laid off ~5% of its workforce in Q1 to reduce costs; CEO expects deposit outflows to slow with Fed pause.

## SEC filing metadata
- accession: 0001751783-23-000016
- form_type: 8-K
- ticker: RBKB
- cik: 0001751783
- company_name: Rhinebeck Bancorp, Inc.
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1751783/000175178323000016/0001751783-23-000016-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1751783/000175178323000016/rbkb-20230427x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001751783-23-000016
- JSON: https://secwatch.observer/filing/0001751783-23-000016.json
- Plain text: https://secwatch.observer/filing/0001751783-23-000016.txt

## Key facts
- Earnings Releases
  Rhinebeck Bancorp, Inc. reported the three months ended March 31, 2023 results: net income $798,000, EPS $0.07 per basic and diluted share.
  - Period: the three months ended March 31, 2023
  - Net income: $798,000
  - EPS: $0.07 per basic and diluted share
  - Result: reported results
  source text: reported net income for the three months ended March 31, 2023 of $798,000 ($0.07 per basic and diluted share)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1751783/000175178323000016/0001751783-23-000016-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.