The capital raise transforms the balance sheet but dilutes near-term ROE and NIM. Watch for deployment of the $88.8M in excess capital into higher-yielding loans and securities, and monitor whether loan growth can offset the margin compression in coming quarters.
Price Chart
Executive Summary
Rhinebeck Bancorp reported Q3 2026 net income of $3.2M ($0.21 per share), up 17.0% from $2.7M ($0.18) a year ago, driven by 8.1% net interest income growth to $13.0M and lower credit losses. The quarter was dominated by the July 2026 second-step conversion that raised $88.8M in gross proceeds, boosting equity to $220.8M but diluting per-share metrics and compressing net interest margin to 3.79% from 3.93%.
Key Financial Metrics
Key Facts
- Q3 2026 net income $3.2M vs $2.7M in Q3 2025, up 17.0%
- Diluted EPS $0.21 vs $0.18 year ago
- Net interest income $13.0M, up 8.1% from $12.0M
- Net interest margin compressed to 3.79% from 3.93%
- Second-step conversion completed July 21, 2026: $88.8M gross proceeds from 8,880,210 shares at $10.00
- Stockholders' equity increased to $220.8M from $136.8M at Dec 2025
- Total deposits grew $147.0M or 13.4% from Dec 2025 to $1.24B
- Past-due loans declined 28.2% from year-end 2025; net charge-offs fell to $211K from $963K
- Return on average equity fell to 6.01% from 8.18% due to higher equity base
Financial Impact
Net income up $457K (17.0%) YoY; net interest income up $973K (8.1%); equity base expanded by $84.0M from conversion
Risk Factors
- Net interest margin compressed 14 bps to 3.79% from lower-yielding liquid asset concentration
- Return on average equity declined to 6.01% from 8.18% due to equity dilution from conversion
- Non-performing assets increased $600K to $4.3M despite lower charge-offs
- Accumulated other comprehensive loss increased $4.2M from securities unrealized losses
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001751783-26-000042 |
| Document: 0001751783-26-000042-index.html | 0001751783-26-000042 |
| Document: 0001751783-26-000042.txt | 0001751783-26-000042 |
| 8-K Data (Synthetic) | 0001751783-26-000042 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 29, 2026 3d ago | 8-K | $12.85 | awaiting T+60 | awaiting T+60 | $12.93 (+0.62%) |
Oct 28, 2026 4d ago | SC 13G/A | $12.85 | awaiting T+60 | awaiting T+60 | $12.93 (+0.62%) |
Oct 6, 2026 26d ago | 8-K | $12.97 | awaiting T+60 | awaiting T+60 | $12.93 (−0.31%) |
Aug 6, 2026 12w ago | Insider Buy | $12.52 $12.85 | ▲ +2.64% | ▲ +4.06% | $12.93 (+3.27%) |
Jul 23, 2026 14w ago | Insider Cluster | $12.43 $12.69 | ▲ +2.09% | ▼ −1.64% | $12.93 (+4.02%) |
Jul 17, 2026 15w ago | 8-K | $17.02 $17.98 | ▲ +5.64% | ▲ +0.95% | $12.93 (−24.03%) |
Jun 29, 2026 17w ago | 8-K | $17.31 $17.95 | ▲ +3.71% | ▲ +0.97% | $12.93 (−25.30%) |
May 26, 2026 22w ago | 8-K | $11.02 $12.65 | ▼ −14.75% | ▼ −12.03% | $12.93 (−17.29%) |
May 15, 2026 24w ago | EFFECT | $11.47 $12.48 | ▲ +8.76% | ▲ +4.25% | $12.93 (+12.68%) |
May 14, 2026 24w ago | 8-K | $11.47 $12.48 | ▲ +8.76% | ▲ +4.25% | $12.93 (+12.68%) |
US Market Status
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