Rhinebeck Bancorp Q2 net income falls 4% to $2.6 million; net interest income rises 1.2% to $11.6 million - RBKB News | RalliesRhinebeck Bancorp Q2 net income falls 4% to $2.6 million; net interest income rises 1.2% to $11.6 million
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RBKB• Second-quarter results
- Rhinebeck Bancorp posted Q2 net income of $2.6 million, down 4% year over year, with EPS of $0.24.
- Net interest income rose 1.2% to $11.6 million, while net interest margin narrowed 19 basis points to 3.78%.
- Non-interest income increased 8.8% to $1.7 million, while non-interest expense climbed 3.1% to $10 million.
- Past-due loans fell 34.6% from year-end to $9.5 million, while total assets rose 12.9% to $1.47 billion.
Second-step conversion and stock offering
- Rhinebeck completed a second-step conversion on July 21, raising $88.8 million in gross proceeds from a public stock offering priced at $10.
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