Rhinebeck Bancorp Inc Stock Price, News & Analysis

Rhinebeck Bancorp (NASDAQ:RBKB) reported strong Q2 2025 financial results with net income of $2.7 million ($0.25 per share), a 179.6% increase from $975,000 in Q2 2024. For H1 2025, net income reached $5.0 million ($0.47 per share), up 139.2% year-over-year.

The bank's performance showed significant improvements with net interest margin expanding to 3.88%, return on average equity rising to 8.04%, and non-performing assets declining 30%. Total assets increased to $1.27 billion, with deposits growing by $50.0 million (4.9%). The bank maintains strong capitalization with a Tier 1 capital ratio of 12.66% and tangible book value per share of $11.40.

Rhinebeck Bancorp (NASDAQ:RBKB) announced the retirement of Frederick L. Battenfeld from its board of directors, effective May 21, 2025. Battenfeld, who joined the board in 1995, served for 30 years and was the fourth-generation owner of F.W. Battenfeld & Son, a family-run farm in Red Hook, N.Y. During his tenure, he chaired the Audit committee and served on the Loan Review committee. He succeeded his father Richard on the Bank's board and was known for his contributions to making Rhinebeck Bank a premier community bank in the Hudson Valley. Battenfeld was also actively involved in community service, including serving as past president of the Dutchess County Fair.

Rhinebeck Bancorp (NASDAQ:RBKB) reported strong Q1 2025 financial results with net income of $2.3 million ($0.21 per share), a 104.1% increase from $1.1 million in Q1 2024. The improvement was driven by higher net interest income and non-interest income, partially offset by increased credit loss provisions and expenses.

Key highlights include:

• Net interest income rose 25.2% to $11.0 million
• Interest rate spread improved to 3.13% from 2.19%
• Net interest margin increased to 3.79% from 2.90%
• Return on average assets reached 0.73% vs 0.34% year-over-year
• Return on average equity improved to 7.49% from 3.92%

Total assets remained stable at $1.26 billion, with loans receivable growing 0.5% to $976.5 million. Credit quality improved with past due loans decreasing 18.9% to $13.6 million (1.38% of total loans). Total deposits increased by $13.5 million to $1.03 billion, while stockholders' equity grew 3.4% to $126.0 million.

Rhinebeck Bancorp (RBKB) has announced two strategic appointments to its Board of Directors, effective April 15, 2025. Sharon A. McGinnis, current Chief Human Resources Officer at Central Hudson Gas & Electric , and Nancy K. Patzwahl, a certified public accountant and principal at UHY Advisors NY, have joined the board.

McGinnis, with previous experience as VP of Human Resources at Dow Jones, will serve on the Compensation and Governance & Nominating Committees. She brings expertise in talent management, leadership development, and corporate governance.

Patzwahl, with experience at KPMG and former directorship at National Union Bank of Kinderhook, joins the Audit and Loan Review Committees. Her background includes tax strategy, financial reporting, and risk oversight.

Rhinebeck Bancorp (NASDAQ:RBKB) announced that President and CEO Michael J. Quinn will retire after 40 years of service, including 20 years as CEO. During Quinn's leadership, the bank experienced significant growth with assets increasing by 246%, expanded its footprint, and successfully transitioned to becoming a publicly traded company.

The Board of Directors has initiated a comprehensive search for Quinn's successor, engaging an executive search firm to evaluate both internal and external candidates. Quinn will continue serving as President and CEO until either a successor is appointed or the end of the year.

Under Quinn's tenure, the bank strengthened its community impact while maintaining core values of integrity, accountability, and community service. The bank maintains a strong capital position and is positioned for continued growth and innovation.

Rhinebeck Bancorp (NASDAQ:RBKB) reported a net loss of $2.7 million for Q4 2024, compared to net income of $930,000 in Q4 2023. The annual net loss for 2024 was $8.6 million, versus net income of $4.4 million in 2023. The losses primarily reflect $16.0 million in securities sales losses from balance sheet restructuring.

Key financial metrics include:

• Net interest income increased 14.8% to $10.5 million in Q4 2024
• Net interest margin improved by 65 basis points to 3.61% in Q4
• Total assets decreased 4.4% to $1.26 billion
• Loans receivable decreased 3.7% to $971.8 million
• Past due loans decreased to 1.71% of total loans from 1.90%

The company's strategic restructuring involved selling available-for-sale securities and reinvesting in higher-yielding, shorter-duration assets to improve long-term profitability.

Rhinebeck Bancorp (NASDAQ:RBKB) has completed a strategic balance sheet restructuring through the sale of its available-for-sale securities. The company sold $71 million in September 2024 and an additional $21 million in December 2024. The proceeds were reinvested into new securities with yields 3.06% higher than those sold.

The restructuring is expected to increase earnings per share by $0.04 and net interest margin by 0.04% over the next 12 months. The sold securities had a yield of 1.37% with a 6.2-year average life, while the new securities yield 4.44% with a 1.8-year average life. The transaction resulted in a one-time pre-tax loss of $4.1 million.

The Bank maintains strong liquidity with over $35 million in cash equivalents and a $250 million unused secured credit line with the Federal Home Loan Bank of New York.

Rhinebeck Bancorp (NASDAQ:RBKB) reported a net loss of $8.1 million in Q3 2024, compared to net income of $1.2 million in Q3 2023. The loss primarily resulted from a strategic balance sheet restructuring involving a $12.0 million pre-tax loss from selling lower-yielding securities (1.11% yield) and reinvesting in higher-yielding securities (4.22% yield). Total assets decreased 3.6% to $1.27 billion, while loans receivable decreased 4.4% to $964.9 million. The company's indirect automobile loans decreased by 19.1%, reflecting a strategic decision to reduce this portfolio. Deposits increased by $15.7 million (1.5%), while FHLB advances decreased by $68.3 million (53.3%).

Rhinebeck Bancorp (NASDAQ:RBKB) reported a decrease in net income for Q2 2024, with earnings of $975,000 ($0.09 per share), down 31.9% from $1.4 million ($0.13 per share) in Q2 2023. The decline was primarily due to increased provision for credit losses and decreased net interest income. For the first half of 2024, net income was $2.1 million ($0.19 per share), a 6.0% decrease from the same period last year.

Key financial metrics for Q2 2024:

• Return on average assets: 0.31% (down from 0.43% in Q2 2023)
• Return on average equity: 3.43% (down from 5.17% in Q2 2023)
• Net interest margin: 3.08% (up 11 basis points)
• Tangible book value per share: $10.27 (up 8.5% year-over-year)

The company's total assets decreased by 2.8% to $1.28 billion, with loans receivable down $26.5 million to $982.4 million. Deposits increased slightly by 0.1%, while borrowings decreased by 37.7%.