Rhinebeck Bancorp sells $21M more securities, takes $4.1M loss; expects $0.04 EPS gain

Rhinebeck Bancorp, Inc.

Sold additional $21M of available-for-sale securities in December 2024, following $71M in September.
Recognized $4.1M pre-tax loss; proceeds reinvested at 4.44% yield vs 1.37% sold (3.06% higher).
Projected to increase EPS by $0.04 and net interest margin by 0.04% over next 12 months.
Weighted average life of portfolio reduced from 6.2 years to 1.8 years; bank remains well capitalized.
Expects improved earnings starting Q1 2025, increased liquidity for commercial loan growth.

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