Quarterly ResultApr 23, 2026, 04:37 PM
Rhinebeck Bancorp Q1 Net Income Falls 3.1% to $2.2M
AI Summary
Rhinebeck Bancorp, Inc. reported a net income of $2.2 million for the first quarter ended March 31, 2026, resulting in $0.20 per basic and diluted share. This marks a 3.1% decrease from the $2.3 million ($0.21 per share) reported in the comparable prior year period. The decline was primarily attributed to a decrease in non-interest income and an increase in non-interest expense, which were partially offset by a decrease in the provision for credit losses and an increase in net interest income.
Key Highlights
- Q1 2026 net income was $2.2 million.
- Q1 2026 basic and diluted EPS was $0.20.
- Net income decreased by $72,000 or 3.1% year-over-year.
- Decrease due to lower non-interest income and higher non-interest expense.
- Offset by lower provision for credit losses and higher net interest income.