Rhinebeck Bancorp Posts Q2 Earnings and Finalizes $88.8M Second-Step Conversion
RBKB sits 31% above its 52-week low of $9.41 on elevated volume (7.0× avg).
Summary
Rhinebeck Bancorp posted Q2 2026 net income of $2.6 million and completed its second-step conversion, raising $88.8 million in a stock offering that more than doubles shares outstanding.
Key Events · Earnings and Guidance · RBKB
-
Second-Step Conversion Completed
On July 21, 2026, the company finalized its mutual-to-stock conversion, selling 8,880,210 shares at $10.00 per share for gross proceeds of $88.8 million. Post-offering shares outstanding total 15,638,237, subject to fractional share adjustments.
-
Q2 Earnings Slightly Lower
Net income of $2.6 million ($0.24 per diluted share) was down 4.0% from $2.7 million a year ago, driven by higher non-interest expense, partially offset by increased net interest and non-interest income.
-
Capital Injection Transforms Balance Sheet
The $88.8 million offering proceeds will significantly boost capital ratios; the bank's Tier 1 leverage ratio was already 10.93% at June 30, 2026, before the conversion.
-
Asset Quality Improves
Past-due loans decreased 34.6% from year-end to $9.5 million (1.03% of total loans), and non-performing assets fell 8.4% to $3.4 million.
Analysis · RBKB · Finance
The headline event is the completion of Rhinebeck Bancorp's second-step conversion, which raised $88.8 million in gross proceeds through the sale of 8.88 million shares at $10.00 each. This transformative capital injection more than doubles the share count to 15.6 million and substantially fortifies the balance sheet for future growth, even though the offering priced at a discount to the current $12.35 stock price. Meanwhile, Q2 net income came in at $2.6 million, slightly below the prior year, as higher non-interest expense offset a 1.2% rise in net interest income and improving credit quality. The conversion, however, dominates the quarter's narrative.
How filings like this one have moved
In the 30 days to Oct 4, 2026, 36.7% of the 1015 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.63%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, RBKB was trading at $12.35 on NASDAQ in the Finance sector, with a market capitalization of approximately $192.8M. The 52-week trading range was $9.41 to $17.99. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.