# Rhinebeck Bancorp, Inc. (RBKB) Informational only - not investment advice. CIK: 0001751783 SIC: 6036 Savings Institutions, Not Federally Chartered SIC breadcrumb: [Finance, Insurance, And Real Estate](/division/H/) > [Depository Institutions](/major-group/60/) > [SIC 6036 Savings Institutions, Not Federally Chartered](/industry/6036/) Latest 10-K filed: 2026-03-13 SEC page: https://www.sec.gov/edgar/browse/?CIK=1751783 Filing source: https://www.sec.gov/Archives/edgar/data/1751783/000175178326000005/rbkb-20251231x10k.htm ## At a glance FY2025 · period end 2025-12-31 · filed 2026-03-13 · accession 0001751783-26-000005 · source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001751783.json | Metric | Value | FY | Provenance | | --- | ---: | ---: | --- | | Revenue | 68,873,000 USD | 2025 | verified | | Net income | 10,045,000 USD | 2025 | verified | | Assets | 1,301,766,000 USD | 2025 | verified | | Free cash flow | 10,893,000 USD | 2025 | computed | | Net margin | 14.58% | 2025 | computed | | Revenue YoY | +8.94% | 2025 | computed | | ROE | 7.34% | 2025 | computed | Computed values are grepcent-computed from the verified facts above and may differ from ratios the company itself reports. Free cash flow = operating cash flow − capital expenditures. Net margin = net income ÷ revenue. Revenue YoY = FY2025 revenue ÷ FY2024 revenue − 1 (consecutive fiscal years only). ROE = net income ÷ period-end stockholders' equity. No market price, no rating, no forecast on this site. Not investment advice. ### Peer percentile fingerprint | Ratio | RBKB | Peer median | Percentile | N | | --- | ---: | ---: | ---: | ---: | | Net margin | 14.6% | 17.7% | 33 | 16 | | Revenue growth | 8.9% | 8.5% | 53 | 16 | | FCF margin | 15.8% | 23.0% | 31 | 14 | | ROE | 7.3% | 7.3% | 53 | 16 | | ROA | 0.8% | 1.0% | 40 | 16 | | Liabilities / equity | 8.51 | 7.69 | 73 | 16 | Percentile = share of the N covered peers reporting that ratio whose value is lower (ties counted half); computed among grepcent-covered companies in SIC industry 6036 Savings Institutions, Not Federally Chartered, not the whole market. A higher percentile means a higher value of the ratio, not a better company. Ratios with fewer than 8 reporting peers are omitted. Latest reported values per company; fiscal periods may differ. Descriptive arithmetic - not a score, rating, or ranking. ## Selected Fundamentals | Metric | Value | Unit | FY | Filed | | --- | ---: | --- | ---: | --- | | Revenue | 68873000 | USD | 2025 | 2026-03-13 | | Net income | 10045000 | USD | 2025 | 2026-03-13 | | Assets | 1301766000 | USD | 2025 | 2026-03-13 | ## Financials Annual standardized facts from SEC companyfacts as of latest extracted filing date 2026-03-13. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001751783.json. Derived margins, ratios, and free cash flow are computed from the extracted annual SEC facts. | Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Revenue | | 27,887,000 | 33,730,000 | 40,986,000 | 44,395,000 | 43,700,000 | 48,592,000 | 60,659,000 | 63,222,000 | 68,873,000 | | Net income | | 3,002,000 | 4,357,000 | 5,963,000 | 5,917,000 | 11,558,000 | 6,997,000 | 4,395,000 | -8,620,000 | 10,045,000 | | Diluted EPS | | | | 0.56 | 0.55 | 1.06 | 0.64 | 0.40 | -0.80 | 0.92 | | Operating cash flow | | 5,387,000 | 8,608,000 | 12,111,000 | 14,845,000 | 7,652,000 | 14,795,000 | 7,048,000 | 8,470,000 | 11,743,000 | | Capital expenditures | | 697,000 | 1,146,000 | 2,589,000 | 1,867,000 | 1,774,000 | 1,132,000 | 578,000 | 791,000 | 850,000 | | Share buybacks | | | | | | | | | | 95,000 | | Assets | | 742,103,000 | 882,423,000 | 973,946,000 | 1,128,829,000 | 1,281,166,000 | 1,335,977,000 | 1,313,202,000 | 1,255,765,000 | 1,301,766,000 | | Liabilities | | 687,126,000 | 823,146,000 | 864,064,000 | 1,012,330,000 | 1,155,197,000 | 1,227,845,000 | 1,199,517,000 | 1,133,932,000 | 1,164,914,000 | | Stockholders' equity | 52,517,000 | 54,977,000 | 59,277,000 | 109,882,000 | 116,499,000 | 125,969,000 | 108,132,000 | 113,685,000 | 121,833,000 | 136,852,000 | | Free cash flow | | 4,690,000 | 7,462,000 | 9,522,000 | 12,978,000 | 5,878,000 | 13,663,000 | 6,470,000 | 7,679,000 | 10,893,000 | ### Ratios ROE and ROA use period-end equity/assets. Liabilities / equity uses total liabilities divided by stockholders' equity. Current ratio uses current assets divided by current liabilities when both are reported. | Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Net margin | | 10.76% | 12.92% | 14.55% | 13.33% | 26.45% | 14.40% | 7.25% | -13.63% | 14.58% | | Return on equity | | 5.46% | 7.35% | 5.43% | 5.08% | 9.18% | 6.47% | 3.87% | -7.08% | 7.34% | | Return on assets | | 0.40% | 0.49% | 0.61% | 0.52% | 0.90% | 0.52% | 0.33% | -0.69% | 0.77% | | Liabilities / equity | | 12.50 | 13.89 | 7.86 | 8.69 | 9.17 | 11.36 | 10.55 | 9.31 | 8.51 | ## As-reported value updates 1 tracked difference above grepcent's stated thresholds were found between the earliest XBRL-filed value and the value currently on file for the same fiscal period. Ledger: /company/RBKB/revisions/ ## Quarterly Quarterly standardized facts from SEC companyfacts as of latest extracted filing date 2026-08-13. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001751783.json. Flow metrics use discrete quarter-length periods from 10-Q/10-Q/A filings. Q4 revenue and net income are derived only when annual FY and nine-month YTD facts exist for the same fiscal year; derived Q4 values are labeled. EPS Q4 is not derived. | Quarter | End date | Revenue | Net income | Diluted EPS | Method | | --- | --- | ---: | ---: | ---: | --- | | 2022-Q3 | 2022-09-30 | | | 0.19 | reported discrete quarter | | 2023-Q1 | 2023-03-31 | | | 0.07 | reported discrete quarter | | 2023-Q2 | 2023-06-30 | | | 0.13 | reported discrete quarter | | 2023-Q3 | 2023-06-30 | | 1,431,000 | | reported discrete quarter | | 2023-Q3 | 2023-09-30 | 15,534,000 | | 0.11 | reported discrete quarter | | 2023-Q4 | 2023-12-31 | 15,584,000 | 930,000 | | derived Q4 = FY annual - nine-month YTD | | 2024-Q1 | 2024-03-31 | 15,635,000 | 1,121,000 | 0.10 | reported discrete quarter | | 2024-Q2 | 2024-03-31 | | 1,121,000 | | reported discrete quarter | | 2024-Q2 | 2024-06-30 | 15,776,000 | | 0.09 | reported discrete quarter | | 2024-Q3 | 2024-06-30 | | 975,000 | | reported discrete quarter | | 2024-Q3 | 2024-09-30 | 16,040,000 | | -0.75 | reported discrete quarter | | 2024-Q4 | 2024-12-31 | 16,307,000 | -2,654,000 | | derived Q4 = FY annual - nine-month YTD | | 2025-Q1 | 2025-03-31 | 16,638,000 | 2,288,000 | 0.21 | reported discrete quarter | | 2025-Q2 | 2025-03-31 | | 2,288,000 | | reported discrete quarter | | 2025-Q2 | 2025-06-30 | 16,755,000 | | 0.25 | reported discrete quarter | | 2025-Q3 | 2025-06-30 | | 2,726,000 | | reported discrete quarter | | 2025-Q3 | 2025-09-30 | 17,759,000 | | 0.25 | reported discrete quarter | | 2025-Q4 | 2025-12-31 | 17,721,000 | 2,336,000 | | derived Q4 = FY annual - nine-month YTD | | 2026-Q1 | 2026-03-31 | 16,611,000 | 2,216,000 | 0.20 | reported discrete quarter | | 2026-Q2 | 2026-03-31 | | 2,216,000 | | reported discrete quarter | | 2026-Q2 | 2026-06-30 | 17,013,000 | | 0.24 | reported discrete quarter | ## Filed narrative (10-K & 10-Q) ## Business Verbatim Item 1 Business section from RBKB's latest 10-K: [/company/RBKB/business/](/company/RBKB/business/). ## Risk Factors Verbatim Item 1A Risk Factors from RBKB's latest 10-K: [/company/RBKB/risk-factors/](/company/RBKB/risk-factors/). ## Latest quarter (10-Q) Latest 10-Q source: https://www.sec.gov/Archives/edgar/data/1751783/000175178326000040/rbkb-20260630x10q.htm Extracted structurally from real Item 2 body heading to real Item 3/4 boundary. Confidence: high Filing date: 2026-08-13 Report date: 2026-06-30 Item 2.          Management’s Discussion and Analysis of Financial Condition and Results of Operations General Management’s discussion and analysis of financial condition and results of operations at June 30, 2026 and December 31, 2025, and for the three and six months ended June 30, 2026 and 2025, is intended to assist in understanding the financial condition and results of operations of the Company and the Bank. The information contained in this section should be read in conjunction with the unaudited financial statements and the notes thereto appearing in Part I, Item 1 of this Quarterly Report on Form 10-Q. Cautionary Note Regarding Forward-Looking Statements This report may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which can be identified by the use of words such as “estimate,” “approximate,” “project,” “believe,” “intend,” “anticipate,” “plan,” “seek,” “expect,” “predict,” “forecast,” “improve,” “continue,” “will,” “would,” “should,” “could,” “may” and words of similar meaning. These forward-looking statements include, but are not limited to: [[GREPCENT_TABLE]] [["","\u00b7","statements of our goals, intentions and expectations;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u00b7","statements regarding our business plans, prospects, growth and operating strategies, and financial condition and results of operation;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u00b7","statements regarding the quality of our loan and investment portfolios; and"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u00b7","estimates of our risks and future costs and benefits."]] [[/GREPCENT_TABLE]] These forward-looking statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Forward-looking statements, by their nature, are subject to risks and uncertainties. The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: [[GREPCENT_TABLE]] [["","\u25cf","our ability to effectively deploy the net proceeds from the stock offering in a manner that generates acceptable returns on equity and avoids prolonged periods of excess capital;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","regulatory restrictions applicable to the Company following completion of the mutual-to-stock conversion, including limitations on stock repurchases, dividends, and being acquired during the post-conversion period;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","general economic conditions, either nationally or in our market area, including potential recessionary conditions or slowed economic growth caused by supply chain disruption or otherwise;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","changes in liquidity, including the size and composition of our deposit portfolio and the percentage of uninsured deposits in the portfolio;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","changes in the level and direction of loan delinquencies and charge-offs and changes in the estimates or methodology used in the calculation of the allowance for credit losses;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","our ability to access cost-effective funding;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","fluctuations in real estate values and both residential and commercial real estate market conditions;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","demand for loans and deposits in our market area;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","our ability to implement our business strategies;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","our ability to manage or reduce expenses;"]] [[/GREPCENT_TABLE]] 40 Table of Contents [[GREPCENT_TABLE]] [["","\u25cf","competition among depository and other financial institutions;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","inflation and changes in market interest rates that affect our margins and yields, the fair value of financial instruments, our volume of loan originations and loan sales, or the level of defaults, losses and prepayments on loans, whether held in portfolio or sold in the secondary market;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","adverse changes in the securities markets;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","changes in laws or government regulations or policies affecting financial institutions, including changes in regulatory fees, Federal Deposit Insurance Corporation premiums and capital requirements, and changes in the monetary and fiscal policies of the Board of Governors of the Federal Reserve System;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","the imposition of tariffs or other domestic or international governmental policies, trade restrictions and retaliatory measures impacting our borrowers and the broader economy;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","the impact of a shutdown of the U.S. government, debt ceiling impasses or fiscal uncertainty;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","negative financial impact from potential supervisory action, regulatory penalties and/or settlements;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","our ability to manage interest rate risk, market risk, credit risk and operational risk;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","our ability to enter new markets successfully and capitalize on growth opportunities;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","our ability to successfully integrate into our operations any assets, liabilities or systems we may acquire, as well as new management personnel or customers, and our ability to realize related revenue synergies and cost savings within expected time frames and any goodwill charges related thereto;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","changes in investor sentiment and consumer spending, borrowing and savings habits;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","the current or anticipated impact of military conflict, terrorism or other geopolitical events;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","changes in accounting policies and practices, as may be adopted by the bank regulatory agencies, the Financial Accounting Standards Board, the Securities and Exchange Commission or the Public Company Accounting Oversight Board;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","our ability to attract or retain key employees;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","risks associated with cybersecurity threats, data breaches, ransomware attacks, or other failures in our operational or security systems and infrastructure, including the risks arising from our dependence on third-party service providers and vendors;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","the failure to maintain current technologies and to successfully implement future information technology enhancements and the operational risks associated with the adoption of artificial intelligence and other emerging technologies;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","our compensation expense associated with equity allocated or awarded to our employees;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","changes in the financial condition, results of operations or prospects of issuers of securities that we own; and"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","conditions relating to pandemics, or other public health emergencies."]] [[/GREPCENT_TABLE]] Additional factors that may affect our results are discussed in our Annual Report on Form 10-K under the heading “Risk Factors.” Because of these and other uncertainties, our actual future results may be materially different from the results indicated by these forward-looking statements. Accordingly, you should not place undue reliance on such statements. ​ 41 Table of Contents Recent Events On July 21, 2026, the Company completed its second-step conversion, and became a fully public stock holding company. In connection therewith, the Company sold 8,880,210 shares of common stock at a purchase price of $10.00 per share, generating gross offering proceeds of $88.8 million. Because the offering was oversubscribed, the Company subsequently returned approximately $71.5 million to subscribers at closing. ​ Concurrent with the offering, existing public shares of common stock were exchanged for new shares of common stock of the Company at an exchange ratio of 1.3978. Cash was paid in lieu of fractional shares at a rate of $10.00 per share. Upon completion of the offering and share exchange, the Company had 15,635,966 shares of common stock outstanding, and the new shares commenced trading on the Nasdaq Capital Market under the symbol “RBKB” on July 22, 2026. ​ This significant capital influx substantially increases our net worth and liquidity position. The net proceeds from the offering will provide additional capital to support future loan growth, expand our branch network, enhance products and services, and fund general corporate purposes. Additionally, because the offering was oversubscribed, the Employee Stock Ownership Plan (ESOP) was unable to purchase shares directly in the offering. The ESOP purchased 355,208 shares at an average cost of $12.28 per share in the open market following the transaction. ​ Critical Accounting Policies Our most significant accounting policies are described in Note 1 to the Consolidated Financial Statements in our Annual Report on Form 10-K.  Certain of these accounting policies require management to use significant judgment and estimates, which can have a material impact on the carrying value of certain assets and liabilities. We consider these policies to be our critical accounting estimates.  The judgment and assumptions made are based upon historical experience, future forecasts, and/or other factors that management believes to be reasonable.  Because of the nature of the judgment and assumptions, actual results could differ from estimates, which could have a material effect on our financial condition and results of operations. We consider the allowance for credit losses to be our most critical accounting policy. ​ Allowance for Credit Losses ​ The Company's allowance for credit losses is its estimate of expected lifetime credit losses currently expected in the loan portfolio, on unfunded lending commitments, and on its available-for-sale securities portfolio over the expected life of those assets. While these estimates are based on substantive methods for determining the required allowance, actual outcomes may differ significantly from estimated results, especially when determining required allowances for larger, complex commercial credits or unfunded lending commitments to commercial borrowers. Consumer loans, including indirect automobile loans and single family residential real estate loans, are smaller and generally behave in a similar manner, and loss estimates for these credits are considered more predictable. Additionally, the allowance for credit losses calculation utilizes a forward-looking forecast of macroeconomic conditions, which may differ significantly from actual results. Further discussion of the methodology used in establishing the allowance is provided in Note 3 to the Notes to the Consolidated Financial Statements included in this Quarterly Report on Form 10-Q and in “Item 7. Management’s Discussion and Analysis of Fi [Excerpt truncated for page length; source filing is linked above.] ## Latest 10-K MD&A (excerpt) Latest 10-K Item 7 source: https://www.sec.gov/Archives/edgar/data/1751783/000175178326000005/rbkb-20251231x10k.htm Complete FY 2025 MD&A: /company/RBKB/mda/fy2025/ Extracted structurally from real Item 7 body heading to real Item 7A/8 boundary. Confidence: high Filing date: 2026-03-13 Report date: 2025-12-31 Item 7.    Management’s Discussion and Analysis of Financial Condition and Results of Operations This discussion and analysis reflects information contained in our audited consolidated financial statements and other relevant statistical data, and is intended to enhance your understanding of our financial condition and results of operations. The information in this section has been derived from the audited consolidated financial statements contained within this Form 10-K. Overview Net Interest Income. Our primary source of income is net interest income. Net interest income is the difference between interest income, which is the income we earn on our loans and investments, and interest expense, which is the interest we pay on our deposits and borrowings. Provision for Credit Losses on loans. The allowance for credit losses is a valuation allowance for the estimated lifetime credit losses. The allowance for credit losses is increased through charges to the provision for credit losses. Loans are charged against the allowance when management believes that the collectability of the principal loan amount is not probable. Recoveries on loans previously charged-off, if any, are credited to the allowance for credit losses when realized. Non-interest Income. Our primary sources of non-interest income are service charges on deposit accounts, investment advisory income, net gains in the cash surrender value of bank owned life insurance and other income. Non-interest Expenses. Our non-interest expenses consist of salaries and employee benefits, net occupancy and equipment, data processing, professional fees, marketing expenses, premium payments we make to the FDIC for insurance of our deposits and other general and administrative expenses. Income Tax Expense. Our income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between the carrying amounts and the tax basis of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amounts expected to be realized. ​ 50 Table of Contents Business Strategy ​ In October 2025, Matthew J. Smith was appointed President and Chief Executive Officer of Rhinebeck Bank and its holding companies, Rhinebeck Bancorp and Rhinebeck Bancorp, MHC, to lead Rhinebeck Bank into its next phase of growth and innovation. Mr. Smith’s executive leadership experience includes overseeing community bank operations, spearheading the implementation of digital banking and banking-as-a-service programs and integrating acquired financial institutions. As we realign our strategies for growth, we intend to continue to operate as a well-capitalized and profitable community bank dedicated to providing exceptional personal service to our individual and business customers. We believe that we have a competitive advantage in the markets we serve because of our knowledge of the local marketplace and our long-standing history of providing superior, relationship-based customer service. Our current business strategy includes the following key components, which are designed to improve earnings by expanding our net interest margin, increasing non-interest income and improving efficiency: [[GREPCENT_TABLE]] [["","\u2022","Emphasize relationship-based commercial lending. Following the completion of our holding company reorganization and minority stock issuance in 2019, we began our expansion as a commercial lender. Our commercial real estate loan portfolio (which includes multi-family real estate and commercial construction loans) and commercial business loan portfolio have grown from $223.0 million and $83.2 million, or 32.9% and 12.2% of our total loan portfolio, respectively, at December 31, 2019 to $534.7 million and $91.5 million, or 55.8% and 9.5% of our total loan portfolio, respectively, at December 31, 2025. We believe that commercial real estate and commercial business lending offer opportunities to invest in our community, increase the overall yield earned on our loan portfolio and manage interest rate risk. We intend to continue to increase originations of these types of loans in our primary market area and may consider hiring additional lenders as well as originating loans secured by properties located in areas that are contiguous to our current market area."]] [[/GREPCENT_TABLE]] Increasing our commercial real estate loans and commercial business loans involves risk, as described in “Risk Factors—Risks Related to Our Lending Activities—Our emphasis on commercial real estate and commercial business lending involves risks that could adversely affect our financial condition and results of operations” and “—Our non-owner occupied commercial real estate loans may expose us to increased credit risk.” [[GREPCENT_TABLE]] [["","\u2022","Grow and enhance our low-cost deposit base. Deposits are our primary source of funds for lending and investment. Core deposits, which we define as all non-time deposits, are a lower-cost and more stable source of funds than time deposits. We are making a concerted effort to increase these lower-cost transaction deposit accounts following a period of relatively higher interest rates during which customers migrated to higher-cost time deposits. As of December 31, 2025, core deposits totaled $720.4 million, or 65.6% of total deposits. We plan to continue to market our core transaction accounts, emphasizing our high-quality service and competitive pricing of these products."]] [[/GREPCENT_TABLE]] We are also developing a full suite of treasury management services for business customers to encourage commercial borrowers to maintain deposit accounts with us and to generate recurring fee income. We view treasury management as a core strategic capability that will support both deposit growth and non-interest income diversification. We may also enter into strategic partnerships, including banking-as-a-service partnerships, to facilitate new account openings and provide a low-cost method to attract and retain core deposits. [[GREPCENT_TABLE]] [["","\u2022","Invest in technology to improve efficiency and support scalable growth. We emphasize disciplined expense management to support sustainable profitability and operating leverage. We are investing in updated technology and digital capabilities to improve efficiency, enhance customer experience, and support scalable growth. We currently offer the convenience of certain technology-based products, such as mobile deposit capture, bill pay, card valet, and internet and mobile banking. We may invest in additional initiatives, including enhanced digital account opening, improved self-service capabilities, automation of"]] [[/GREPCENT_TABLE]] 51 Table of Contents [[GREPCENT_TABLE]] [["","","manual workflows, and selective use of advanced analytics to support operational efficiency and decision-making, including potential applications of artificial intelligence products. Management will monitor efficiency metrics relative to our peer institutions and aims to adjust our resource allocation to maintain competitiveness while preserving service quality."]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","Increase household penetration and non-interest income through private banking services. We are focused on meeting the entire financial needs of our customer base by offering a full complement of banking solutions. Our customer relationships provide opportunities for cross-selling products to existing customers to deepen our \u201cshare of wallet.\u201d Further, we plan to explore establishing a private banking offering, designed as a relationship-led, advice-driven financial services model for mass-affluent and emerging-affluent individuals, business owners, professionals, and families whose needs exceed traditional retail banking but who are underserved or excluded by the high minimums and rigid structures of larger regional and national banks. Our existing wealth management business will serve as a natural complement to private banking offerings and provide an opportunity for household-level relationship expansion among both bank customers and wealth management clientele."]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","Continue to originate consumer loans and provide residential real estate loans through third party partnerships as a complementary offering to support deposit and multi-product relationships. Although we intend to emphasize commercial lending, our retail banking franchise serves as a primary engine for core deposit growth and long-term relationship expansion. Accordingly, we will continue to offer historic retail lending products with a focus on the acquisition, retention and optimization of stable, low-cost deposits, rather than transaction-driven consumer lending growth. Consumer lending products will be positioned as complementary offerings designed to support broader relationships."]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","Manage credit risk to maintain a low level of non-performing assets. We believe that credit risk management is foundational to our strategy. We maintain a comprehensive enterprise risk management framework designed to identify, measure, monitor, and control risks across all business activities. Risk governance is supported by board oversight, management committees, documented risk appetite parameters, and independent testing and assurance functions. Policies, procedures, and internal controls are reviewed and enhanced as our business model evolves to ensure continued compliance with regulatory requirements and safe and sound operations. We have established an experienced credit team and implemented well-defined policies, a thorough and efficient loan underwriting process, and active credit monitoring. We emphasize conservative underwriting standards, and management believes that maintaining strong governance and control discipline enables us to pursue growth opportunities responsibly while protecting customers, shareholders, and the communities we serve. Our nonperforming assets were $3.7 million, or 0.28% of total assets, as of December 31, 2025. We intend to continue to support our investment in our commercial credit department as we grow our commercial loan portfolio."]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","Expand our market area through organic growth, while also considering opportunistic acquisitions. We believe opportunities exist to both increase our market share in our historical markets and to continue our growth in contiguous or other counties with desirable characteristics. We intend to grow our balance sheet organically on a managed basis. We may also consider establishing de novo branches. In addition to organic growth, we will also consider acquisition opportunities that we believe would enhance the value of our franchise and yield potential financial benefits for our stockholders. These opportunities may include strategic acquisitions of other financial institutions, financial services companies, branch offices or lines of business, or lift-outs of lending or deposit-gathering teams from other financial institutions, although we have no current plans or understandings regarding any acquisitions."]] [[/GREPCENT_TABLE]] ​ ​ 52 Table of Contents Critical Accounting Estimates Our most significant accounting policies are described in Note 1 to the consolidated financial statements.  Certain of these accounting policies require management to use significant judgment and estimates, which can have a material impact on the carrying value of certain assets and liabilities, and we consider these policies to be our critical accounting estimates.  The judgment and assumptions made are based upon historical experience, future forecasts, or other factors that man [Excerpt truncated for page length; the complete text is on the linked full-MD&A page.] Read the full FY 2025 MD&A: /company/RBKB/mda/fy2025/ All MD&A years: /company/RBKB/mda/ ## MD&A history Prior-year 10-K MD&A spans are extracted from SEC filings with the same bounded parser used for the latest filing. Each year's full verbatim text is on its own sub-page. - [FY 2024 MD&A](/company/RBKB/mda/fy2024/): filed 2025-03-25; accession 0001751783-25-000012 (https://www.sec.gov/Archives/edgar/data/1751783/000175178325000012/rbkb-20241231x10k.htm) - [FY 2023 MD&A](/company/RBKB/mda/fy2023/): filed 2024-03-26; accession 0001751783-24-000009 (https://www.sec.gov/Archives/edgar/data/1751783/000175178324000009/rbkb-20231231x10k.htm) - [FY 2022 MD&A](/company/RBKB/mda/fy2022/): filed 2023-03-23; accession 0001751783-23-000006 (https://www.sec.gov/Archives/edgar/data/1751783/000175178323000006/rbkb-20221231x10k.htm) - [FY 2021 MD&A](/company/RBKB/mda/fy2021/): filed 2022-03-22; accession 0001751783-22-000008 (https://www.sec.gov/Archives/edgar/data/1751783/000175178322000008/rbkb-20211231x10k.htm) ## Macro cross-references Indicators mapped to this company's SIC classification (industry 6036 Savings Institutions, Not Federally Chartered) by grepcent's deterministic macro-sector crosswalk. A navigational mapping, not a statistical or causal claim. - [FEDFUNDS](/indicator/FEDFUNDS/): Federal Funds Effective Rate - [DFEDTARU](/indicator/DFEDTARU/): Federal Funds Target Range - Upper Limit - [DGS2](/indicator/DGS2/): Market Yield on U.S. Treasury Securities at 2-Year Constant Maturity - [DGS10](/indicator/DGS10/): Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity - [T10Y2Y](/indicator/T10Y2Y/): 10-Year Treasury Constant Maturity Minus 2-Year Treasury Constant Maturity Macro-to-micro threads including this sector: [Interest rates & the Fed](/thread/interest-rates-fed/), [Money & trade](/thread/money-trade/), [Consumer & credit](/thread/consumer-credit/), [Government finances](/thread/government-finances/), [Sector employment](/thread/sector-employment/). All macro indicators: /indicators/ ## For LLMs & downloads Markdown twin: /company/RBKB.md · JSON record: /company/RBKB.json · verified financials: /company/RBKB/financials.json / /company/RBKB/financials.csv · machine TOC for the whole site: /llms.txt