Overview

* Rhinebeck Bancorp ( RBKB ) Q3 net income at $2.7 mln, reversing a loss from last year

* Net interest income rose 24.5% to $12.0 mln, driven by higher asset yields

* Company's net interest margin improved to 3.93% from 3.25% last year

Outlook

* Company did not provide specific financial guidance for future periods

Result Drivers

* HIGHER ASSET YIELDS - Net interest income increased due to higher yields on interest-earning assets and lower costs on liabilities

* BALANCE SHEET RESTRUCTURING - Restructuring improved yield on available-for-sale securities, aiding net interest margin

* ASSET QUALITY IMPROVEMENT - Decrease in non-performing assets and past due loans indicates improved asset quality

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Net $2.69

Income mln

Q3 Net $12.03

Interest mln

Income

Q3 Net 3.93%

Interest

Margin

Q3 $3.34

Pretax mln

Profit

Q3 $904,000

Provisio

n for

Credit

Losses

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)