RBKB completes $88.8M second-step conversion; Q2 net income $2.6M (-4.0%)

Filed August 13, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 12, 2025 · ~2 min read

Key Changes

• high

  Completed second-step mutual-to-stock conversion July 2026, raising $88.8M gross proceeds at $10.00/share; offering oversubscribed, $71.5M returned to subscribers. Management flags capital deployment risk: proceeds must generate acceptable returns and avoid prolonged excess capital.

  MD&A: Second-Step Conversion verify on EDGAR →
• high

  Net income $2.6M ($0.24 diluted EPS) for Q2 2026, down 4.0% from $2.7M ($0.25) in Q2 2025, as net interest margin compressed 19 basis points to 3.78% despite lower funding costs.

  MD&A: Net Income & NIM verify on EDGAR →
• high

  Repurchased 115,941 shares for $1.8M during first half of 2026, the company's first open-market buyback activity. Post-conversion regulatory restrictions now limit stock repurchases, dividends, and acquisitions during the post-conversion period.

  Notes: Stock Repurchase Program verify on EDGAR →