Rhinebeck Q1 2026: Earnings dip 4% as auto-loan runoff continues, FHLB debt cut 90%

Filed May 14, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 13, 2025 · ~1 min read

Key Changes

• high

  FHLB borrowings plunged 90% year-over-year to $5.2M (from $53.9M), as the bank used deposit growth and securities proceeds to replace wholesale funding with lower-cost deposits—a major balance-sheet restructuring.

  MD&A: FHLB advances verify on EDGAR →
• high

  Indirect auto loans fell to 15.3% of assets from 22.1% a year earlier, continuing a strategic de-risking of higher-risk consumer exposure; net loans declined $16.6M in the quarter.

  MD&A: Indirect automobile loan concentration verify on EDGAR →
• medium

  Net income edged down to $2.2M from $2.3M, with EPS slipping to $0.20 from $0.21; net interest margin held near-flat at 3.77% (down 2bp) after last year's 89bp expansion.

  MD&A: Net income and EPS verify on EDGAR →