Rhinebeck Bancorp Q2 FY26 net income slips 3.7% to $2.6 million

Rhinebeck Bancorp posted Q2 net income of $2.6 million, down 3.7%, with diluted EPS of $0.24.

Net interest income rose 1.2% to $11.6 million; net interest margin narrowed 19 basis points to 3.78%.

Non-interest expense increased 3.1% to $10 million, while non-interest income climbed 8.8% to $1.7 million.

Total assets grew 12.9% to $1.47 billion at June 30, driven by cash and cash equivalents up 198.6% to $304.6 million.

The second-step conversion closed July 21, selling 8,880,210 shares at $10 each and generating $88.8 million gross; about $71.5 million was returned after oversubscription.