---
schema_version: "secwatch.filing_event.v1"
accession: "0001751783-23-000029"
form_type: "8-K"
ticker: "RBKB"
cik: "0001751783"
company_name: "Rhinebeck Bancorp, Inc."
filed_at: "2023-07-27T23:59:59+00:00"
generated_at: "2026-06-13T00:41:32.512817+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Rhinebeck Bancorp Q2 net income down 29.5% to $1.4M; deposits decline 4.6%

## Summary
- Net income $1.4M ($0.13 per share) for Q2 2023, down 29.5% vs Q2 2022; H1 net income $2.2M, down 45.4%.
- Net interest income fell 14.4% to $9.3M in Q2 due to higher deposit costs and rising rate environment.
- Provision for credit losses was a credit of $452K vs expense of $346K last year; net charge-offs increased to $622K.
- Deposits decreased $52.5M (4.6%) from Dec 2022; uninsured deposits ~29% of total deposits.
- Stockholders' equity down $669K; repurchased 200K shares for $1.4M; adoption of CECL reduced retained earnings $633K.

## SEC filing metadata
- accession: 0001751783-23-000029
- form_type: 8-K
- ticker: RBKB
- cik: 0001751783
- company_name: Rhinebeck Bancorp, Inc.
- filed_at: 2023-07-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1751783/000175178323000029/0001751783-23-000029-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1751783/000175178323000029/rbkb-20230727x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001751783-23-000029
- JSON: https://secwatch.observer/filing/0001751783-23-000029.json
- Plain text: https://secwatch.observer/filing/0001751783-23-000029.txt

## Key facts
- Earnings Releases
  Rhinebeck Bancorp, Inc. reported the three months ended June 30, 2023 results: net income $1.4 million, EPS $0.13 per basic and diluted share.
  - Period: the three months ended June 30, 2023
  - Net income: $1.4 million
  - EPS: $0.13 per basic and diluted share
  - Result: reported results
  source text: Rhinebeck Bancorp, Inc. (the “Company”) (NASDAQ: RBKB), the holding company of Rhinebeck Bank (the “Bank”), reported net income for the three months ended June 30, 2023 of $1.4 million ($0.13 per basic and diluted share), which was $598,000, or 29.5%, less than the comparable prior year period.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1751783/000175178323000029/0001751783-23-000029-index.htm
- Earnings Releases
  Rhinebeck Bancorp, Inc. reported the six months ended June 30, 2023 results: net income $2.2 million, EPS $0.21 per basic and $0.20 per diluted share.
  - Period: the six months ended June 30, 2023
  - Net income: $2.2 million
  - EPS: $0.21 per basic and $0.20 per diluted share
  - Result: reported results
  source text: Net income for the six months ended June 30, 2023 of $2.2 million ($0.21 per basic and $0.20 per diluted share), was $1.9 million, or 45.4%, less than the same period last year.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1751783/000175178323000029/0001751783-23-000029-index.htm

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