Page 10 - தலைமை நிர்வாகி அதிகாரி மைக்கேல் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Share this article Share this article POUGHKEEPSIE, N.Y., April 29, 2021 /PRNewswire/  Rhinebeck Bancorp, Inc. (the  Company ) (NASDAQ: RBKB), the holding company of Rhinebeck Bank (the Bank ), reported net income for the three months ended March 31, 2021 of $3.3 million ($0.31 per basic and diluted share), compared with $1.1 million ($0.10 per basic and diluted share) for the comparable prior year period, which was an increase of $2.2 million, or 208.9%. The favorable variance in net income came largely from a $1.5 million increase in net interest income and a credit to the provision for loan losses of $69,000 in the first quarter of 2021 as compared to a provision for loan losses of $1.2 million for the first quarter of 2020. The Company s return on average assets and return on average equity were 1.18% and 11.40%, respectively, in the first quarter of 2021 as compared to 0.44% and 3.85%, respectively, in the first quarter of 2020.

New yorkUnited statesOrange countyMichaelj quinnRhinebeck bank theRhinebeck bancorpConnectone bankHome loan bankPaycheck protection programRhinebeck bancorp incRhinebeck bankChief executive officer michaelFederal home loan bankRhinebeck asset managementFederal reserve boardMonths ended march