Quarterly ResultMay 14, 2026, 04:18 PM
Rhinebeck Bancorp Q1 Net Income $2.22M, EPS $0.20
AI Summary
Rhinebeck Bancorp reported a net income of $2.22 million for the first quarter of 2026, a 3.15% decrease from $2.29 million in the prior year. Basic earnings per share also declined to $0.20 from $0.21. Despite a slight decrease in total interest and dividend income, net interest income increased by 1.42% to $11.19 million, primarily due to a decrease in interest expense. The company also saw a significant reduction in its provision for credit losses.
Key Highlights
- Net income for Q1 2026 was $2.22 million, down 3.15% from $2.29 million in Q1 2025.
- Basic earnings per share decreased to $0.20 in Q1 2026 from $0.21 in Q1 2025.
- Net interest income increased by 1.42% to $11.19 million in Q1 2026 from $11.04 million.
- Provision for credit losses on loans significantly decreased to $71 thousand in Q1 2026 from $353 thousand.
- Total assets decreased by 1.30% to $1.28 billion at March 31, 2026, from $1.30 billion at December 31, 2025.
- Total deposits increased by 0.56% to $1.10 billion at March 31, 2026, from $1.09 billion.
- Stockholders' equity rose by 1.31% to $138.64 million at March 31, 2026, from $136.85 million.
- The company repurchased $220 thousand of common stock during Q1 2026.
Price Impact
More from RBKB