Rhinebeck Bancorp Inc 2024年度报告

Indicate by check mark whether the Registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the Securities ExchangeAct of 1934 during the preceding twelvemonths (or for such shorter period that the Registrant was required to file such reports) and (2)has beensubject to such requirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was required tosubmit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reportingcompany. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section13(a)of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of itsinternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accountingfirm that prepared or issued its audit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrantincluded in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant's executive officers during the relevant recovery period pursuant to § 240.10D-1(b).☐ Indicate by check mark whether the Registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). Yes☐No☒ The aggregate market value of the voting and non-voting common equity held by non-affiliates of the Registrant, computed by reference tothe last sale price at the end of the most recently completed second quarter was $28,840,250. DOCUMENTS INCORPORATED BY REFERENCE Certain portions of the registrant’s definitive proxy statement, in connection with its 2025 annual meeting of stockholders, to be filed within120days of December31, 2024, are incorporated by reference into PartIII of this Annual Report on Form10-K. TABLE OF CONTENTS PARTIItem1.Business1Item1A.Risk Factors31Item1B.Unresolved Staff Comments42Item 1C.Cybersecurity42Item2.Properties45Item3.Legal Proceedings45Item4.Mine Safety Disclosures45PARTIIItem5.Market for Registrant’s Common Equity, Related Stockholder Matters and IssuerPurchases of Equity Securities46Item6.[Reserved]46Item7.Management’s Discussion and Analysis of Financial Condition and Results ofOperations47Item7A.Quantitative and Qualitative Disclosures About Market Risk62Item8.Financial Statements and Supplementary Data62Item9.Changes in and Disagreements with Accountants on Accounting and FinancialDisclosure62Item9A.Controls and Procedures62Item9B.Other Information63Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections63PARTIIIItem10.Directors, Executive Officers and Corporate Governance64Item11.Executive Compensation64Item12.Security Ownership of Certain Beneficial Owners and Management and RelatedStockholder Matters64Item13.Certain Relationships and Related Transactions, and Director Independence64Item14.Principal Accounting Fees and Services64PARTIVItem15.Exhibits and Financial Statement Schedules65Item16.Form10-K Summary66Signatures FORWARD LOOKING STATEMENTS This annual report on Form10-K contains forward-looking statements, which can beidentified by the use of words such as “estimate,” “project,” “believe,” “intend,” “anticipate,” “plan,”“seek,” “expect,”"intend," “predict,” “forecast,” “improve,” “continue,” "will," "would," "should,""could," "may"and words of similar meaning. These forward-looking statements include, but are notlimited to: ●statements of our goals, intentions and expectations;●statements regarding our business plans, prospects, growth and operating strategies, andfinancial condition and results of operation;●statements regarding the quality of our loan and investment portfolios; and●estimates of our risks and future costs and benefits. These forward-looking statements are based on our current beliefs and expectations and aresubject to significant business, economic and competitive uncertainties and contingencies, many ofwhich are beyond our control. In addition, these forward-looking statements are subject toassumptions with respect to future business strategies and decisions that are subject to change.Forward looking