Net interest income recovered to $11.2 million in 2026Q1, yet the net interest margin remains stagnant at 0.9% due to competitive funding pressures in the Hudson Valley.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|
| Net Interest Income | 46.55M | 46.39M | 38.23M | 37.97M | 41.84M | 39.41M | 36.38M | 32.25M | 28.41M | 24.59M | 22.52M | 0 | 0 | 0 |
| NII Growth % | 63.95% | 21.35% | 0.7% | -9.25% | 6.15% | 8.35% | 12.8% | 13.51% | 15.55% | 9.2% | - | - | - | - |
| Net Interest Margin % | 3.62% | 3.56% | 3.04% | 2.89% | 3.13% | 3.08% | 3.22% | 3.31% | 3.22% | 3.31% | 3.12% | 0% | 0% | 0% |
| Interest Income | 68.85M | 68.87M | 63.76M | 60.66M | 48.59M | 43.7M | 44.4M | 40.99M | 33.73M | 27.89M | 25.57M | 0 | 0 | 0 |
| Interest Expense | 22.3M | 22.48M | 25.53M | 22.69M | 6.76M | 4.29M | 8.02M | 8.74M | 5.32M | 3.3M | 3.05M | 0 | 0 | 0 |
| Loan Loss Provision | 1.38M | 1.66M | 2.8M | 1.7M | 1.41M | -3.67M | 7.14M | 2.46M | 2.1M | 900K | 1.2M | 0 | 0 | 0 |
| Non-Interest Income | 6.69M | 6.97M | -9.5M | 5.73M | 5.93M | 7.41M | 8.29M | 5.63M | 5.55M | 6.38M | 6.61M | 29.36M | 28.28M | 29.13M |
| Non-Interest Income % | 8.85% | 9.19% | -17.51% | 8.64% | 10.88% | 14.49% | 15.74% | 12.08% | 14.13% | 18.61% | 20.55% | 100% | 100% | 100% |
| Total Revenue | 75.53M | 75.84M | 54.26M | 66.39M | 54.53M | 51.11M | 52.69M | 46.62M | 39.28M | 34.26M | 32.18M | 29.36M | 28.28M | 29.13M |
| Revenue Growth % | 272.77% | 39.79% | -18.28% | 21.76% | 6.69% | -3% | 13.02% | 18.67% | 14.65% | 6.47% | 9.62% | 3.79% | -2.92% | - |
| Non-Interest Expense | 39.25M | 39.02M | 36.87M | 36.38M | 37.46M | 35.49M | 30.05M | 27.93M | 26.49M | 23.46M | 23.92M | 27.51M | 27.16M | 27.48M |
| Efficiency Ratio | 51.97% | 51.45% | 67.95% | 54.8% | 68.7% | 69.45% | 57.04% | 59.9% | 67.44% | 68.48% | 74.33% | 93.7% | 96.04% | 94.32% |
| Operating Income | 12.61M | 12.69M | -10.94M | 5.61M | 8.9M | 14.99M | 7.48M | 7.49M | 5.37M | 6.6M | 4.01M | 10.24M | 8.97M | 8.94M |
| Operating Margin % | 16.69% | 16.72% | -20.16% | 8.46% | 16.32% | 29.33% | 14.19% | 16.07% | 13.67% | 19.26% | 12.46% | 34.89% | 31.71% | 30.7% |
| Operating Income Growth % | - | 215.98% | -294.82% | -36.89% | -40.66% | 100.52% | -0.21% | 39.49% | -18.62% | 64.59% | -60.85% | 14.23% | 0.25% | - |
| Pretax Income | 12.61M | 12.69M | -10.94M | 5.61M | 8.9M | 14.99M | 7.48M | 7.49M | 5.37M | 6.6M | 4.01M | 1.85M | 1.12M | 1.65M |
| Pretax Margin % | 16.69% | 16.72% | -20.16% | 8.46% | 16.32% | 29.33% | 14.19% | 16.07% | 13.67% | 19.26% | 12.46% | 6.3% | 3.96% | 5.68% |
| Income Tax | 2.64M | 2.64M | -2.32M | 1.22M | 1.9M | 3.43M | 1.56M | 1.53M | 1.01M | 3.6M | 1.32M | 992.07K | 196.96K | 260.57K |
| Effective Tax Rate % | 20.91% | 20.81% | 21.18% | 21.71% | 21.35% | 22.9% | 20.85% | 20.41% | 18.88% | 54.52% | 32.94% | 53.65% | 17.58% | 15.76% |
| Net Income | 9.97M | 10.04M | -8.62M | 4.39M | 7M | 11.56M | 5.92M | 5.96M | 4.36M | 3M | 2.69M | 857.21K | 923.26K | 1.39M |
| Net Margin % | 13.2% | 13.24% | -15.89% | 6.62% | 12.83% | 22.62% | 11.23% | 12.79% | 11.09% | 8.76% | 8.36% | 2.92% | 3.26% | 4.78% |
| Net Income Growth % | 233.81% | 216.53% | -296.13% | -37.19% | -39.46% | 95.34% | -0.77% | 36.86% | 45.14% | 11.64% | 213.69% | -7.15% | -33.72% | - |
| Net Income (Continuing) | 9.97M | 10.04M | -8.62M | 4.39M | 7M | 11.56M | 5.92M | 5.96M | 4.36M | 3M | 2.69M | 857.21K | 923.26K | 1.39M |
| EPS (Diluted) | 0.91 | 0.92 | -0.80 | 0.40 | 0.64 | 1.06 | 0.55 | 0.56 | 1.05 | 0.72 | 0.65 | 0.21 | 0.22 | 0.33 |
| EPS Growth % | 230.02% | 215% | -300% | -37.5% | -39.62% | 92.73% | -1.79% | -46.67% | 45.83% | 10.77% | 209.52% | -4.55% | -33.33% | - |
| EPS (Basic) | - | 0.93 | -0.80 | 0.41 | 0.65 | 1.07 | 0.55 | 0.56 | 1.05 | 0.72 | 0.65 | 0.21 | 0.22 | 0.33 |
| Diluted Shares Outstanding | 10.98M | 10.96M | 10.76M | 10.86M | 11M | 10.95M | 10.74M | 10.71M | 4.16M | 4.16M | 4.16M | 4.16M | 4.16M | 4.16M |
Geographic and credit concentration
As reported in financial statements, Rhinebeck Bancorp's net interest income reached $11.2 million in 2026Q1, reflecting a recovery from the $8.8 million low in 2024Q1, though the 1.4% year-over-year growth rate suggests that the initial post-rate-cycle expansion phase may be moderating as funding costs stabilize.
The trajectory of net interest income appears to be normalizing after a period of volatility, suggesting that the bank has successfully repriced its loan book. Investors should monitor whether the current deposit beta remains manageable, as any further upward pressure on funding costs could compress the net interest income growth seen in recent quarters.
Based on the provided income statement data, the net interest margin has remained stubbornly flat at 0.9% for five consecutive quarters, indicating that the bank's asset yields are currently struggling to outpace the rising cost of local core deposits in the competitive Hudson Valley market.
The lack of margin expansion despite a rising rate environment suggests that Rhinebeck Bancorp may be facing significant competitive pressure on its deposit pricing. This stagnation warrants further investigation into whether the bank's indirect auto lending strategy is providing sufficient yield to offset the higher cost of funding.
According to recent quarterly filings, the efficiency ratio improved to 53.9% in 2026Q1 from the 72.1% peak observed in 2024Q4, suggesting that management has successfully regained control over non-interest expenses following the significant volatility that impacted the bank's operating leverage during the previous fiscal year.
The return to a more normalized efficiency ratio implies that the bank is effectively managing its fixed-cost base relative to its revenue generation. However, maintaining this level of operating leverage will likely require sustained growth in non-interest income to offset the inherent overhead of its physical branch network.
As indicated by the financial data, the provision for credit losses fluctuated significantly, ranging from a $101,000 reversal in 2025Q2 to a $904,000 expense in 2025Q3, which suggests that the bank's credit risk modeling remains highly sensitive to the performance of its indirect auto loan portfolio.
The erratic nature of these provisions may indicate that the bank is adjusting its reserves to account for potential normalization in credit cycles. Investors should monitor whether these swings represent a proactive management of credit risk or an underlying deterioration in the quality of the loan book.
Quick answers to the most common questions about buying RBKB stock.
Rhinebeck Bancorp, Inc. (RBKB) is profitable, generating $10.0M in net income for the fiscal year ending 2025 with a net profit margin of 13.2%.
Rhinebeck Bancorp, Inc. (RBKB) reported an operating income of $12.7M, resulting in an operating profit margin of 16.7%. This margin reflects the operational efficiency of the business before interest and taxes.
Rhinebeck Bancorp, Inc. (RBKB) generated $51.7M in gross profit for the year, representing a gross profit margin of 68.2%. This demonstrates the company's core pricing power and production efficiency.