Rhinebeck Bancorp, Inc. Completes Balance Sheet Restructuring [Yahoo! Finance]
Rhinebeck Bancorp, Inc. (RBKB)
Company Research
Source: Yahoo! Finance
In September 2024, the Bank sold $71 million of available-for-sale securities. The proceeds from these sales were reinvested into new securities offering yields that were 3.11% higher than those of the securities sold. This restructuring had no impact on tangible equity and allows the Bank to improve its earnings stream going forward. The transaction is projected to increase earnings per share by $0.12 and net interest margin by 0.17% over the next 12 months. "This strategic restructuring is a positive move that will provide a long-term benefit to the Company, our shareholders and the Bank's customers," said Rhinebeck Bank President and CEO Michael J. Quinn. "It makes sense to take advantage of market conditions to obtain higher yields on securities, and allows us greater flexibility in managing balance sheet growth moving forward." The restructuring decreased the average life of the securities portfolio, and improved the Company's earnings stream going forward, beginning in the
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RBKB
News
- Rhinebeck Bancorp, Inc. Reports Results for the Quarter Ended September 30, 2024Accesswire
- Private companies account for 59% of Rhinebeck Bancorp, Inc.'s (NASDAQ:RBKB) ownership, while individual investors account for 22% [Yahoo! Finance]Yahoo! Finance
- Rhinebeck Bancorp, Inc. Completes Balance Sheet RestructuringAccesswire
RBKB
Sec Filings
- 11/12/24 - Form 10-Q
- 10/24/24 - Form 8-K
- 9/27/24 - Form 8-K
- RBKB's page on the SEC website