---
schema_version: "secwatch.filing_event.v1"
accession: "0001751783-24-000003"
form_type: "8-K"
ticker: "RBKB"
cik: "0001751783"
company_name: "Rhinebeck Bancorp, Inc."
filed_at: "2024-01-25T23:59:59+00:00"
generated_at: "2026-06-06T18:24:29.835873+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Rhinebeck Bancorp Q4 net income up 15% YoY to $930k; full year profit down 37% to $4.4M

## Summary
- Q4 net income $930k ($0.09 EPS) vs $808k prior year; FY net income $4.4M ($0.41 EPS) vs $7.0M prior year.
- Net interest income fell 6.3% in Q4 ($9.1M) and 9.3% FY ($38.0M) due to higher deposit costs and shift to CDs.
- Deposits decreased 8.8% ($99.4M) amid bank failures; borrowings from FHLB up 121.9% ($70.3M) to fund outflows.
- Company reduced workforce ~5% in Q1 2023, closed a branch, and recorded $375k impairment on Beacon branch pending sale.
- Tangible book value per share rose 7.4% to $10.04; commercial RE loans +15.5%, residential +43.8%, indirect auto -13.8%.

## SEC filing metadata
- accession: 0001751783-24-000003
- form_type: 8-K
- ticker: RBKB
- cik: 0001751783
- company_name: Rhinebeck Bancorp, Inc.
- filed_at: 2024-01-25T23:59:59+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/1751783/000175178324000003/0001751783-24-000003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1751783/000175178324000003/rbkb-20240125x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001751783-24-000003
- JSON: https://secwatch.observer/filing/0001751783-24-000003.json
- Plain text: https://secwatch.observer/filing/0001751783-24-000003.txt

## Key facts
- Earnings Releases
  Rhinebeck Bancorp, Inc. reported the quarter and year ended December 31, 2023 results: net income $930,000 ($0.09 per basic and diluted share) for the three months ended December 31, 2023; $4.4 million ($0.41 per basic, EPS $0.09 per basic and diluted share for the three months; $0.41 per basic and $0.40 per diluted share for the year.
  - Period: the quarter and year ended December 31, 2023
  - Net income: $930,000 ($0.09 per basic and diluted share) for the three months ended December 31, 2023; $4.4 million ($0.41 per basic
  - EPS: $0.09 per basic and diluted share for the three months; $0.41 per basic and $0.40 per diluted share for the year
  - 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 December 31, 2023 of $930,000 ($0.09 per basic and diluted share), which was $122,000, or 15.1%, higher than the comparable prior year period. Net income for the year ended December 31, 2023 of $4.4 million ($0.41 per basic and $0.40 per diluted share) was $2.6 million, or 37.2%, less than the prior year.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1751783/000175178324000003/0001751783-24-000003-index.htm

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