Rhinebeck Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2021
July 29, 2021 at 04:25 pm EDT
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Rhinebeck Bancorp, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2021. For the quarter, the company reported total interest and dividend income of $10,237,000 against $11,213,000 a year ago. Net interest income was $,9,129,000 against $8,977,000 a year ago. Net income was $2,565,000 or $0.24 per basic share and $0.23 per diluted share against $1,348,000 or $0.13 per basic and diluted share a year ago.
For the six months, the company reported total interest and dividend income of $21,289,000 against $21,953,000 a year ago. Net interest income was $18,911,000 against $17,298,000 a year ago. Net income was $5,886,000 or 0.55 per basic share and $0.54 per diluted share against $2,423,000 or $0.23 per basic and diluted share a year ago.
Rhinebeck Bancorp, Inc. is a holding company for Rhinebeck Bank (the Bank). The Bank provides a full range of banking and financial services to consumer and commercial customers through approximately 14 branches and over two representative offices located in Dutchess, Ulster, Orange, and Albany counties. The Bankâs primary business activity is accepting deposits from the public and using those funds, primarily to originate indirect automobile loans (automobile loans referred to as automobile dealerships), commercial real estate loans (which include multi-family real estate loans and commercial construction loans), commercial business loans and one-to four-family residential real estate loans, and to purchase investment securities. It offers various deposit accounts, including savings accounts, certificates of deposit, money market accounts, commercial and personal checking accounts, and others. It also offers alternative delivery channels, including online banking and bill pay.
RHINEBECK BANCORP, INC. 
