secwatch.observer — SEC 8-K summary
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Issuer:     Rhinebeck Bancorp, Inc. (RBKB)
CIK:        0001751783
Form:       8-K
Filed at:   2023-10-26T23:59:59+00:00
Accession:  0001751783-23-000035
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Rhinebeck Q3 net income falls 41% to $1.2M on higher provision, lower NII
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- Net income $1.2M ($0.12 basic, $0.11 diluted), down 41.3% from Q3 2022.
- Net interest income fell 13% to $9.7M; provision for credit losses rose to $910K from $545K.
- Net charge-offs $385K vs $222K; non-performing assets up 9.1% to $4.8M.
- Loans grew $9.4M to $1.26B; deposits fell $47.6M (-4.2%); FHLB borrowings up 51.9%.
- Company repurchased 200k shares for $1.4M during Q3; equity decreased 1.4%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1751783/000175178323000035/0001751783-23-000035-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1751783/000175178323000035/rbkb-20231026x8k.htm
  HTML page:      https://secwatch.observer/filing/0001751783-23-000035

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