---
schema_version: "secwatch.filing_event.v1"
accession: "0001751783-24-000022"
form_type: "8-K"
ticker: "RBKB"
cik: "0001751783"
company_name: "Rhinebeck Bancorp, Inc."
filed_at: "2024-04-25T23:59:59+00:00"
generated_at: "2026-06-03T08:08:28.176108+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Rhinebeck Bancorp Q1 net income $1.1M ($0.10 EPS), up 40.5% YoY; tangible book value $10.10 per share

## Summary
- Net income $1.1M ($0.10 per share) vs $798K ($0.07) in Q1 2023, up 40.5%.
- Net interest income down 9.8% to $8.9M due to higher deposit costs; net interest margin 2.92% (down 29 bps).
- Provision for credit losses decreased 91.8% to $83K; net charge-offs down to $250K.
- Non-interest income up 9.4% to $1.5M; non-interest expenses down 3.5% to $8.9M (salary/benefits down 4.7% after 5% workforce reduction).
- Total assets $1.30B (down 1.1%); loans decreased $15.5M to $993.3M; deposits up $6.5M; equity $114.3M.

## SEC filing metadata
- accession: 0001751783-24-000022
- form_type: 8-K
- ticker: RBKB
- cik: 0001751783
- company_name: Rhinebeck Bancorp, Inc.
- filed_at: 2024-04-25T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1751783/000175178324000022/0001751783-24-000022-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1751783/000175178324000022/rbkb-20240425x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001751783-24-000022
- JSON: https://secwatch.observer/filing/0001751783-24-000022.json
- Plain text: https://secwatch.observer/filing/0001751783-24-000022.txt

## Key facts
- Earnings Releases
  Rhinebeck Bancorp, Inc. reported First Quarter 2024 results: net income $1.1 million, EPS $0.10.
  - Period: First Quarter 2024
  - Net income: $1.1 million
  - EPS: $0.10
  - 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 March 31, 2024 of $1.1 million ($0.10 per basic and diluted share), which was $323,000, or 40.5%, higher than the comparable prior year period of $798,000 ($0.07 per basic and diluted share).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1751783/000175178324000022/0001751783-24-000022-index.htm

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