Rhinebeck Bancorp (RBKB) 10-Q 13 Aug 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Aug. 01, 2020
Cover [Abstract]
Document Type	10-Q
Document Period End Date	Jun. 30, 2020
Entity Registrant Name	Rhinebeck Bancorp, Inc.
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		11,133,290
Entity Central Index Key	0001751783
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Assets
Cash and due from banks	$ 74,574	$ 11,978
Available for sale securities (at fair value)	105,138	114,832
Loans receivable (net of allowance for loan losses of $8,572 and $5,954, respectively)	887,320	793,471
Federal Home Loan Bank stock	3,162	3,435
Accrued interest receivable	3,676	2,903
Cash surrender value of life insurance	18,650	18,457
Deferred tax assets (net of valuation allowance of $1,582 and $1,202, respectively)	3,033	2,255
Premises and equipment, net	18,622	18,338
Other real estate owned	1,178	1,417
Goodwill	1,410	1,410
Intangible assets, net	220	241
Other assets	11,347	5,209
Total assets	1,128,330	973,946
Deposits
Noninterest bearing	247,800	179,236
Interest bearing	662,239	594,107
Total deposits	910,039	773,343
Mortgagors’ escrow accounts	11,366	8,106
Advances from the Federal Home Loan Bank	59,016	66,304
Federal Reserve Bank borrowings	12,080
Subordinated debt	5,155	5,155
Accrued expenses and other liabilities	16,994	11,156
Total liabilities	1,014,650	864,064
Stockholders' Equity
Preferred stock (par value $0.01 per share; 5,000,000 authorized, no shares issued)
Common stock (par value $0.01 per share; 25,000,000 authorized, 11,133,290 issued and outstanding)	111	111
Additional paid-in capital	45,852	45,869
Unearned common stock held by the employee stock ownership plan ("ESOP")	(4,037)	(4,146)
Retained earnings	74,575	72,152
Accumulated other comprehensive loss:
Net unrealized gain (loss) on available for sale securities, net of taxes	1,842	(195)
Defined benefit pension plan, net of taxes	(4,663)	(3,909)
Total accumulated other comprehensive loss	(2,821)	(4,104)
Total stockholders' equity	113,680	109,882
Total liabilities and stockholders' equity	$ 1,128,330	$ 973,946

Consolidated Statements of Fi_2

Consolidated Statements of Financial Condition (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Allowance for loan losses on loans receivable	$ 8,572	$ 5,954
Deferred tax valuation allowance	$ 1,582	$ 1,202
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, share authorized	5,000,000	5,000,000
Preferred Stock, shares issued	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares authorized	25,000,000	25,000,000
Common Stock, shares issued	11,133,290	11,133,290
Common stock, shares outstanding	11,133,290	11,133,290

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Interest and Dividend Income
Interest and fees on loans	$ 10,569	$ 9,401	$ 20,615	$ 18,116
Interest and dividends on securities	631	713	1,314	1,321
Other income	13	6	24	41
Total interest and dividend income	11,213	10,120	21,953	19,478
Interest Expense
Interest expense on deposits	1,859	1,641	3,876	3,023
Interest expense on borrowings	377	558	779	964
Total interest expense	2,236	2,199	4,655	3,987
Net interest income	8,977	7,921	17,298	15,491
Provision for loan losses	2,255	780	3,455	1,560
Net interest income after provision for loan losses	6,722	7,141	13,843	13,931
Noninterest Income
Service charges on deposit accounts	495	714	1,147	1,412
Net realized loss on sales and calls of securities		(40)	(29)	(40)
Net gain on sales of loans	941	251	1,406	417
Increase in cash surrender value of life insurance	96	100	193	200
Other real estate owned income		1		11
Investment advisory income	250	329	562	542
Other	(32)	78	31	155
Total noninterest income	1,750	1,433	3,310	2,697
Noninterest Expense
Salaries and employee benefits	3,995	3,942	8,147	7,830
Occupancy	878	898	1,728	1,793
Data processing	361	343	715	650
Professional fees	353	360	675	626
Marketing	82	147	225	302
FDIC deposit insurance and other insurance	197	147	365	288
Other real estate owned expense	9		26	38
Amortization of intangible assets	10	11	21	22
Other	880	1,200	2,162	2,417
Total noninterest expense	6,765	7,048	14,064	13,966
Income before income taxes	1,707	1,526	3,089	2,662
Provision for income taxes	359	305	666	530
Net income	$ 1,348	$ 1,221	$ 2,423	$ 2,132
Earnings per common share:
Basic (in dollars per share)	$ 0.13	$ 0.11	$ 0.23	$ 0.20
Diluted (in dollars per share)	$ 0.13	$ 0.11	$ 0.23	$ 0.20
Weighted average shares outstanding, basic	10,726,867	10,705,047	10,724,140	10,702,320
Weighted average shares outstanding, diluted	10,726,867	10,705,047	10,724,140	10,702,320

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net Income		$ 1,348	$ 1,221	$ 2,423	$ 2,132
Other Comprehensive (Loss) Income:
Unrealized holding (losses) gains arising during the period		(722)	1,889	2,550	3,206
Reclassification adjustment for losses included in net realized loss on sales and calls of securities on the consolidated statements of income			40	29	40
Net unrealized (losses) gains on available for sale securities		(722)	1,929	2,579	3,246
Tax effect	[1]	152	(406)	(542)	(682)
Unrealized (losses) gains on available for sale securities, net of tax		(570)	1,523	2,037	2,564
Defined benefit pension plan:
Actuarial loss arising during the period		(1,377)	(41)	(1,097)	(61)
Reclassification adjustment for amortization of net actuarial loss	[2]	71	89	143	179
Total		(1,306)	48	(954)	118
Tax effect	[3]	274	(10)	200	(25)
Defined benefit pension plan (loss) gain, net of tax		(1,032)	38	(754)	93
Other comprehensive (loss) income		(1,602)	1,561	1,283	2,657
Total Comprehensive (Loss) Income		$ (254)	$ 2,782	$ 3,706	$ 4,789
[1]	Includes $0 and $6 for the three and six months ended June 30, 2020, respectively, and $8 for the three and six months ended June 30, 2019, for tax effect of realized losses which are included in the provision for income taxes on the consolidated statements of income.
[2]	Included in other noninterest expense on the consolidated statements of income.
[3]	Includes $15 and $30 for the three and six months ended June 30, 2020, respectively, and $19 and $38 for the three and six months ended June 30, 2019, respectively, for tax effect of amortization of net actuarial loss included in the provision for income taxes on the consolidated statements of income.

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Available-for-sale Securities, gross realized losses	[1]	$ (152)	$ 406	$ 542	$ 682
Amortization of net actuarial loss	[2]	274	(10)	200	(25)
Related income tax expense
Available-for-sale Securities, gross realized losses		0	8	6	8
Amortization of net actuarial loss		$ 15	$ 19	$ 30	$ 38
[1]	Includes $0 and $6 for the three and six months ended June 30, 2020, respectively, and $8 for the three and six months ended June 30, 2019, for tax effect of realized losses which are included in the provision for income taxes on the consolidated statements of income.
[2]	Includes $15 and $30 for the three and six months ended June 30, 2020, respectively, and $19 and $38 for the three and six months ended June 30, 2019, respectively, for tax effect of amortization of net actuarial loss included in the provision for income taxes on the consolidated statements of income.

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders’ Equity - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Unearned common stock held by the ESOP	Retained Earnings	Accumulated Other Comprehensive Loss		Total
Balance at Dec. 31, 2018		$ 100		$ 66,189	$ (7,012)	[1]	$ 59,277
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				911			911
Other comprehensive income (loss)					1,096		1,096
Common Stock and proceeds of offering	$ 111	45,754					45,865
Unearned common stock held by ESOP			$ (4,364)				(4,364)
ESOP shares committed to be allocated		9	55				64
Balance at Mar. 31, 2019	111	45,863	(4,309)	67,100	(5,916)	[1]	102,849
Balance at Dec. 31, 2018		100		66,189	(7,012)	[1]	59,277
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income							2,132
Other comprehensive income (loss)							2,657
Balance at Jun. 30, 2019	111	45,861	(4,255)	68,321	(4,355)	[1]	105,683
Balance at Mar. 31, 2019	111	45,863	(4,309)	67,100	(5,916)	[1]	102,849
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				1,221			1,221
Other comprehensive income (loss)					1,561		1,561
Common Stock and proceeds of offering		(10)					(10)
ESOP shares committed to be allocated		8	54				62
Balance at Jun. 30, 2019	111	45,861	(4,255)	68,321	(4,355)	[1]	105,683
Balance at Dec. 31, 2019	111	45,869	(4,146)	72,152	(4,104)	[1]	109,882
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				1,075			1,075
Other comprehensive income (loss)					2,885		2,885
ESOP shares committed to be allocated			55				55
Balance at Mar. 31, 2020	111	45,869	(4,091)	73,227	(1,219)	[1]	113,897
Balance at Dec. 31, 2019	111	45,869	(4,146)	72,152	(4,104)	[1]	109,882
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income							2,423
Other comprehensive income (loss)							1,283
Balance at Jun. 30, 2020	111	45,852	(4,037)	74,575	(2,821)	[1]	113,680
Balance at Mar. 31, 2020	111	45,869	(4,091)	73,227	(1,219)	[1]	113,897
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				1,348			1,348
Other comprehensive income (loss)					(1,602)		(1,602)
ESOP shares committed to be allocated		(17)	54				37
Balance at Jun. 30, 2020	$ 111	$ 45,852	$ (4,037)	$ 74,575	$ (2,821)	[1]	$ 113,680
[1]	All amounts are net of tax. Related income tax expense or benefit is calculated using an income tax rate of 21.0%.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Cash Flows from Operating Activities
Net income			$ 2,423	$ 2,132
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization and accretion of premiums and discounts on investments, net			285	85
Net realized loss on sales and calls of securities			29	40
Provision for loan losses	$ 2,255	$ 780	3,455	1,560
Loans originated for sale			(46,347)	(19,458)
Proceeds from sale of loans			46,621	17,941
Net gain on sale of loans			(1,406)	(417)
Amortization of intangible assets	10	11	21	22	$ 43
Depreciation and amortization			669	645
Deferred income tax benefit			(1,119)	(260)
Increase in cash surrender value of insurance	(96)	(100)	(193)	(200)
Increase in accrued interest receivable			(773)	(351)
Expense of allocated ESOP shares			92
(Increase) decrease in other assets			(6,138)	949
Increase in accrued expenses and other liabilities			4,884	792
Net cash provided by operating activities			2,503	3,480
Cash Flows from Investing Activities
Proceeds from sales and calls of securities			6,997	4,990
Proceeds from maturities and principal repayments of securities			15,108	6,877
Purchases of securities			(10,146)	(18,832)
Net sales (purchases) of FHLB Stock			273	(1,472)
Net increase in loans			(96,173)	(58,726)
Purchases of bank premises and equipment			(953)	(451)
Net increase of other real estate owned			(31)
Proceeds from sale of other real estate owned			270	107
Net cash used in investing activities			(84,655)	(67,507)
Cash Flows from Financing Activities
Net increase (decrease) in demand deposits, NOW, money market and savings accounts			122,381	(5,044)
Net increase in time deposits			14,315	37,484
Increase in mortgagors' escrow accounts			3,260	2,675
Net increase (decrease) in short-term debt			11,923	(4,369)
Net (decrease) increase in long-term debt			(7,131)	32,312
Proceeds of stock subscriptions				9,814
Return of unfulfilled stock subscriptions				(41,083)
Offering expenses				(1,898)
Loan to ESOP				(4,364)
Return of capital to Rhinebeck Bancorp, MHC				(121)
Net cash provided by financing activities			144,748	25,406
Net increase (decrease) in cash and due from banks			62,596	(38,621)
Cash and Due from Banks
Beginning balance			11,978	50,590	50,590
Ending balance	$ 74,574	$ 11,969	74,574	11,969	$ 11,978
Cash paid for:
Interest			4,716	3,933
Income taxes			$ 358	$ 740

Nature of Business and Signific

Nature of Business and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2020
Nature of Business and Significant Accounting Policies
Nature of Business and Significant Accounting Policies	1. Nature of Business and Significant Accounting Policies The consolidated financial statements include accounts of Rhinebeck Bancorp, Inc. (the “Company”), a stock holding company, and its wholly-owned subsidiary, Rhinebeck Bank (the “Bank”), a New York chartered stock savings bank. The primary purpose of the Company is to act as a holding company for the Bank. The Bank provides a full range of banking and financial services to consumer and commercial customers through its eleven branches and two representative offices located in Dutchess, Ulster, Orange, and Albany counties. Financial services, including investment advisory and financial product sales, are offered through a division of the Bank doing business as Rhinebeck Asset Management (“RAM”). The unaudited consolidated financial statements reflect all adjustments, which in the opinion of management, are necessary for a fair presentation of the results of the interim periods and are of a normal and recurring nature. Operating results for the three and six month periods ended June 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020 or for any other period. For more information regarding the Company’s significant accounting policies, see the Notes to the Consolidated Financial Statements in the Company’s Annual Report on Form 10‑K the Annual Report on Form 10‑K Basis of Financial Statements Presentation The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and general practices within the banking industry. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities, as of the date of the consolidated statements of financial condition and reported amounts of revenues and expenses for the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, the valuation of securities and other real estate owned, the evaluation of investment securities for other-than-temporary impairment, the evaluation of goodwill for impairment, the valuation of deferred tax assets and the determination of pension obligations. Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. All significant intercompany accounts and transactions have been eliminated in consolidation. Reclassifications Certain amounts in the prior year consolidated financial statements have been reclassified to conform to the current year’s presentation. COVID-19 On March 11, 2020, the World Health Organization declared the outbreak of a novel coronavirus (“COVID-19”) as a global pandemic, which continues to spread throughout the United States and around the world. The declaration of the global pandemic indicated that almost all public commerce and related business activities were, to varying degrees, curtailed with the goal of decreasing the rate of new infections. The outbreak of COVID-19 adversely impacted a broad range of industries in which the Company’s customers operate and impaired their ability to fulfill their financial obligations to the Company to a degree. In March, the Federal Open Market Committee brought the target range for the federal funds rate to near zero. These reductions in interest rates and other effects of the COVID-19 outbreak will likely adversely affect the Company’s financial condition and results of operations. As a result of the spread of COVID-19, economic uncertainties have arisen which are likely to negatively impact net interest income, noninterest income, the provision for loan losses and bad debts. Other financial impacts could occur though such potential impacts are unknown at this time. Impact of Recent Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, Leases (“Topic 842”), which created FASB Accounting Standards Codification (“ASC”) Topic 842 (“ASC 842”) and is intended to increase transparency and comparability among organizations by requiring the recognition of lease assets and lease liabilities on the balance sheet and disclosure of key information about leasing arrangements. The principal change required by ASC 842 related to lessee accounting, is that for operating leases, a lessee is required to (1) recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, in the statement of financial position, (2) recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term generally on a straight-line basis, and (3) classify all cash payments within operating activities in the statement of cash flows. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. If a lessee makes this election, it should recognize lease expense for such leases generally on a straight-line basis over the lease term. ASC 842 also changes disclosure requirements related to leasing activities and requires certain qualitative disclosures along with specific quantitative disclosures. ASC 842 also provides an optional transition method for adoption, under which an entity initially applies ASC 842 at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. Consequently, an entity's reporting for the comparative periods presented in the financial statements in which it adopts ASC 842 will continue to be in accordance with current GAAP. The Company adopted the provisions of ASC 842 effective January 1, 2020 utilizing the optional transition method and did not restate comparative periods. The Company elected the package of practical expedients permitted under ASC 842's transition guidance, which allows the Company to carryforward its historical lease classifications and its assessment as to whether a contract is or contains a lease. The Company elected to not recognize lease assets and lease liabilities for leases with an initial term of 12 months or less. Upon adoption, the Company recorded an increase in other assets and an increase in other liabilities of approximately $6,700, respectively. See Note 10 of the footnotes to the consolidated financial statements. In June 2016, the FASB issued ASU No. 2016‑13 on “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”. This ASU requires credit losses on most financial assets be measured at amortized cost and certain other instruments to be measured using an expected credit loss model (referred to as the current expected credit loss (“CECL”) model). Under this model, entities will estimate credit losses over the entire contractual term of the instrument (considering estimated prepayments, but not expected extensions or modifications unless reasonable expectation of a troubled debt restructuring exists) from the date of initial recognition of that instrument. The measurement of expected credit losses is based upon relevant information about past events, including historical experience, current conditions and reasonable and supportable forecasts that affect the collectability of the reported amount. On October 16, 2019, the FASB approved a delay for conversion to the CECL methodology to January 2023 for smaller reporting companies, other public business entities, private companies and non-profits; although early adoption is permitted in 2019. While the Company is currently assessing the effect of ASU No. 2016‑13 and has engaged with a software vendor to assist in its efforts; it is unlikely that the Company will early adopt this ASU. Emerging Growth Company Status As an emerging growth company, the Company may delay adoption of new or revised financial accounting standards until such date that the standards are required to be adopted by non-issuer companies. If such standards would not apply to non-issuer companies, no deferral would be applicable. The Company intends to take advantage of the benefits of the extended transition periods allowed under the Jumpstart Our Business Startups Act. Accordingly, the Company’s consolidated financial statements may not be comparable to those of public companies that adopt new or revised financial accounting standards as of an earlier date. The effective dates of the recent accounting standards reflect those that relate to non-issuer companies.

Investment Securities

Investment Securities	6 Months Ended
	Jun. 30, 2020
Investment Securities
Investment Securities	2. Investment Securities The amortized cost, gross unrealized gains and losses and fair values of available for sale securities are as follows: June 30, 2020 Gross Gross Unrealized Unrealized Amortized Cost Gains Losses Fair Value U.S. government agency mortgage-backed securities–residential $ 93,577 $ 2,235 $ (124) $ 95,688 U.S. government agency securities 5,018 161 — 5,179 Municipal securities (1) 1,383 25 — 1,408 Corporate bonds 2,250 33 (15) 2,268 Other 579 16 — 595 Total $ 102,807 $ 2,470 $ (139) $ 105,138 December 31, 2019 U.S. government agency mortgage-backed securities–residential $ 98,842 $ 464 $ (828) $ 98,478 U.S. government agency securities 12,049 53 (26) 12,076 Municipal securities (1) 1,384 17 (5) 1,396 Corporate bonds 2,250 25 (2) 2,273 Other 555 54 — 609 Total $ 115,080 $ 613 $ (861) $ 114,832 1 The issuers of municipal securities are all within New York State. The following table presents the fair value and unrealized losses of the Company’s available for sale securities with gross unrealized losses aggregated by the length of time the individual securities have been in a continuous unrealized loss position: June 30, 2020 Less Than 12 Months 12 Months or Longer Total Unrealized Unrealized Unrealized Fair Value Losses Fair Value Losses Fair Value Losses U.S. government agency mortgage-backed securities-residential $ 9,080 $ (109) $ 774 $ (15) $ 9,854 $ (124) Corporate Bonds 985 (15) — — 985 (15) Total $ 10,065 $ (124) $ 774 $ (15) $ 10,839 $ (139) December 31, 2019 U.S. government agency mortgage-backed securities-residential $ 35,612 $ (302) $ 27,252 $ (526) $ 62,864 $ (828) U.S. government agency securities — — 7,001 (26) 7,001 (26) Municipal Securities 490 (5) — — 490 (5) Corporate Bonds 749 (2) — — 749 (2) Total $ 36,851 $ (309) $ 34,253 $ (552) $ 71,104 $ (861) At June 30, 2020, the Company had 19 individual available-for-sale securities in an unrealized loss position with unrealized losses totaling $139 with an aggregate depreciation of 1.23% from the Company’s amortized cost. Management believes that none of the unrealized losses on available for sale securities are other-than-temporary because substantially all of the unrealized losses in the Company’s investment portfolio relate to market interest rate changes on debt and mortgage-backed securities issued either directly by the government or from government sponsored enterprises. The Company does not intend to sell the securities and it is not likely that the Company will be required to sell the securities before recovery of their amortized cost basis, which may be maturity; therefore, the Company did not consider those investments to be other-than-temporarily impaired at June 30, 2020. The amortized cost and fair value of available for sale debt securities at June 30, 2020 and December 31, 2019, by contractual maturities, are presented below. Actual maturities of mortgage-backed securities may differ from contractual maturities because the mortgages underlying the securities may be called or repaid without any penalties. Because mortgage-backed securities are not due at a single maturity date, they are not included in the maturity categories in the following maturity summary: June 30, 2020 December 31, 2019 Amortized Cost Fair Value Amortized Cost Fair Value Maturity: Within 1 year $ 175 $ 175 $ 175 $ 175 After 1 but within 5 years — — 7,027 7,001 After 5 but within 10 years 7,801 8,005 7,806 7,899 After 10 years 675 675 675 670 Total Maturities 8,651 8,855 15,683 15,745 Mortgage-backed securities 93,577 95,688 98,842 98,478 Other 579 595 555 609 Total $ 102,807 $ 105,138 $ 115,080 $ 114,832 At June 30, 2020 and December 31, 2019, available for sale securities with a carrying value of $20,732 and $23,782, respectively, were pledged to secure Federal Home Loan Bank of New York (“FHLB”) borrowings. In addition, at June 30, 2020 and December 31, 2019, $733 and $726 of available for sale securities were pledged to secure borrowings at the Federal Reserve Bank of New York (“FRB”), respectively. During the six months ended June 30, 2020, there was $6,997 in proceeds from the sales of available for sale securities with $29 in gross losses realized.

Loans and Allowance for Loan Lo

Loans and Allowance for Loan Losses	6 Months Ended
	Jun. 30, 2020
Loans and Allowance for Loan Losses
Loans and Allowance for Loan Losses	3. Loans and Allowance for Loan Losses A summary of the Company’s loan portfolio is as follows: June 30, December 31, 2020 2019 Commercial real estate loans: Construction $ 10,339 $ 20,354 Non-residential 242,199 228,157 Multi-family 30,145 20,129 Residential real estate loans 41,682 43,726 Commercial and industrial loans (1) 175,120 90,554 Consumer loans: Indirect automobile 365,455 360,569 Home equity 14,804 16,276 Other consumer 9,008 9,752 Total gross loans 888,752 789,517 Net deferred loan costs 7,140 9,908 Allowance for loan losses (8,572) (5,954) Total net loans $ 887,320 $ 793,471 ( 1 ) Includes $89,092 in U.S. Small Business Administration (“SBA”), paycheck protection program (“PPP”) loans. At June 30, 2020 and December 31, 2019, the unpaid principal balances of loans held for sale, included in the residential real estate category above, were $2,409 and $2,684, respectively. The following tables present the classes of the loan portfolio summarized by the pass category and the criticized and classified categories of special mention and substandard within the internal risk system: June 30, 2020 Pass Special Mention Substandard Total Commercial real estate: Construction $ 10,339 $ — $ — $ 10,339 Non-residential 233,325 4,610 4,264 242,199 Multifamily 29,776 — 369 30,145 Residential real estate 39,127 — 2,555 41,682 Commercial and industrial 173,747 546 827 175,120 Consumer: Indirect automobile 364,419 — 1,036 365,455 Home equity 14,274 — 530 14,804 Other consumer 8,987 — 21 9,008 Total $ 873,994 $ 5,156 $ 9,602 $ 888,752 December 31, 2019 Pass Special Mention Substandard Total Commercial real estate: Construction $ 20,354 $ — $ — $ 20,354 Non-residential 219,485 4,285 4,387 228,157 Multifamily 19,744 — 385 20,129 Residential real estate 41,385 — 2,341 43,726 Commercial and industrial 88,874 597 1,083 90,554 Consumer: Indirect automobile 359,616 — 953 360,569 Home equity 15,861 — 415 16,276 Other consumer 9,741 — 11 9,752 Total $ 775,060 $ 4,882 $ 9,575 $ 789,517 Management further monitors the performance and credit quality of the loan portfolio by analyzing the age of the portfolio as determined by the length of time a recorded payment is past due. The past due status of all classes of loans is determined based on contractual due dates for loan payments. The following tables present the classes of the loan portfolio summarized by the aging categories of performing loans and non-accrual loans: June 30, 2020 Greater Than 30-59 Days 60-89 Days 90 Days Past Total Loans Current Past Due Past Due Due Receivable Non-accrual Commercial real estate: Construction $ 10,339 $ — $ — $ — $ 10,339 $ — Non-residential 235,203 218 1,662 5,116 242,199 5,116 Multifamily 29,776 — — 369 30,145 369 Residential real estate 37,398 297 1,432 2,555 41,682 2,555 Commercial and industrial 174,318 55 200 547 175,120 547 Consumer: Indirect automobile 357,827 5,175 1,417 1,036 365,455 1,036 Home equity 13,826 138 310 530 14,804 530 Other consumer 8,804 159 36 9 9,008 9 Total $ 867,491 $ 6,042 $ 5,057 $ 10,162 $ 888,752 $ 10,162 December 31, 2019 Greater Than 30-59 Days 60-89 Days 90 Days Past Total Loans Current Past Due Past Due Due Receivable Non-accrual Commercial real estate: Construction $ 20,354 $ — $ — $ — $ 20,354 $ — Non-residential 222,953 409 884 3,911 228,157 3,911 Multifamily 19,744 — — 385 20,129 385 Residential real estate 42,403 427 116 780 43,726 2,341 Commercial and industrial 89,401 288 198 667 90,554 905 Consumer: Indirect automobile 351,840 6,494 1,294 941 360,569 953 Home equity 15,726 142 91 317 16,276 415 Other consumer 9,492 201 48 11 9,752 11 Total $ 771,913 $ 7,961 $ 2,631 $ 7,012 $ 789,517 $ 8,921 The following tables summarize information in regard to impaired loans by loan portfolio class: June 30, 2020 Recorded Unpaid Principal Related Average Recorded Investment Balance Allowance Investment With no related allowance recorded: Commercial real estate: Non-residential $ 5,116 $ 6,998 $ — $ 4,341 Multifamily 369 400 — 374 Residential real estate 2,555 2,951 — 2,410 Commercial and industrial 497 679 — 631 Consumer: Indirect automobile 276 316 — 409 Home equity 530 562 — 456 Other consumer 7 6 — 10 Total $ 9,350 $ 11,912 $ — $ 8,631 With an allowance recorded: Commercial and industrial $ 50 $ 50 $ 25 $ 17 Consumer: Indirect automobile 760 782 226 457 Other consumer 2 2 2 1 Total $ 812 $ 834 $ 253 $ 475 Total: Commercial real estate: Non-residential $ 5,116 $ 6,998 $ — $ 4,341 Multifamily 369 400 — 374 Residential real estate 2,555 2,951 — 2,410 Commercial and industrial 547 729 25 648 Consumer: Indirect automobile 1,036 1,098 226 866 Home equity 530 562 — 456 Other consumer 9 8 2 11 Total $ 10,162 $ 12,746 $ 253 $ 9,106 December 31, 2019 Recorded Unpaid Principal Related Average Recorded Investment Balance Allowance Investment With no related allowance recorded: Commercial real estate: Non-residential $ 3,911 $ 5,733 $ — $ 3,209 Multifamily 385 409 — 192 Residential real estate 2,341 2,850 — 2,313 Commercial and industrial 905 1,109 — 601 Consumer: Indirect automobile 607 740 — 441 Home equity 415 467 — 307 Other consumer 11 11 — 10 Total $ 8,575 $ 11,319 $ — $ 7,073 With an allowance recorded: Consumer: Indirect automobile 346 $ 376 $ 107 $ 262 Total $ 346 $ 376 $ 107 $ 262 Total: Commercial real estate: Non-residential $ 3,911 $ 5,733 $ — $ 3,209 Multifamily 385 409 — 192 Residential real estate 2,341 2,850 — 2,313 Commercial and industrial 905 1,109 — 601 Consumer: Indirect automobile 953 1,116 107 703 Home equity 415 467 — 307 Other consumer 11 11 — 10 Total $ 8,921 $ 11,695 $ 107 $ 7,335 A loan is considered impaired when based on current information and events it is probable that the Company will be unable to collect all amounts due from the borrower in accordance with the contractual terms of the loan. Impaired loans include nonperforming loans and loans modified as troubled debt restructurings (“TDRs”). Loan modifications, which resulted in these loans being considered TDRs, are primarily in the form of rate concessions and extensions of maturity dates that are made specifically due to hardships experienced by the customer. The Company does not generally recognize interest income on a loan in an impaired status. At June 30, 2020 and December 31, 2019, the same three loans totaling $1,628 and $1,659, included in impaired loans, were identified as TDRs. There were no new TDRs in 2019 or the first six months of 2020. At June 30, 2020 and December 31, 2019, all TDR loans were performing in accordance with their restructured terms. At June 30, 2020 and December 31, 2019, the Company had no commitments to advance additional funds to borrowers under TDR loans. The Company services certain loans that it has sold without recourse to third parties. The aggregate balances of loans serviced for others were $282,106 and $270,730 as of June 30, 2020 and December 31, 2019, respectively. The balance of capitalized servicing rights, included in other assets at June 30, 2020 and December 31, 2019, were $2,265 and $2,226, respectively. Fair value exceeds carrying value. No impairment charges related to servicing rights were recognized during the period ended June 30, 2020 and the year ended December 31, 2019. The following tables summarize the segments of the loan portfolio and the allowance for loan losses, segregated into the amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated for impairment and the activity in the allowance for loan losses for the periods then ended: Commercial Commercial Real Estate Residential and Industrial Indirect Consumer Totals Three months ended June 30, 2020 Allowance for loan losses: Beginning balance $ 2,153 $ 99 $ 601 $ 3,638 $ 129 $ 6,620 Provision for loan losses 520 26 254 1,450 5 2,255 Loans charged-off — — (1) (478) (2) (481) Recoveries — — 5 169 4 178 Ending balance $ 2,673 $ 125 $ 859 $ 4,779 $ 136 $ 8,572 Commercial Residential Commercial Real Estate Real Estate and Industrial Indirect Consumer Totals Three months ended June 30, 2019 Allowance for loan losses: Beginning balance $ 1,159 $ 286 $ 1,575 $ 3,380 $ 783 $ 7,183 Provision for loan losses 93 17 327 329 14 780 Loans charged-off — — (7) (424) (9) (440) Recoveries — 2 — 321 12 335 Ending balance $ 1,252 $ 305 $ 1,895 $ 3,606 $ 800 $ 7,858 Commercial Residential Commercial Real Estate Real Estate and Industrial Indirect Consumer Totals Six months ended June 30, 2020 Allowance for loan losses: Beginning balance $ 2,009 $ 99 $ 603 $ 3,117 $ 126 $ 5,954 Provision for loan losses 664 26 285 2,461 19 3,455 Loans charged-off — — (39) (1,189) (18) (1,246) Recoveries — — 10 390 9 409 Ending balance $ 2,673 $ 125 $ 859 $ 4,779 $ 136 $ 8,572 Ending balance: Loans deemed impaired $ — $ — $ 25 $ 226 $ 2 $ 253 Loans not deemed impaired $ 2,673 $ 125 $ 834 $ 4,553 $ 134 $ 8,319 Loan receivables: Ending balance $ 282,683 $ 41,682 $ 175,120 $ 365,455 $ 23,812 $ 888,752 Ending balance: Loans deemed impaired $ 5,485 $ 2,555 $ 547 $ 1,036 $ 539 $ 10,162 Loans not deemed impaired $ 277,198 $ 39,127 $ 174,573 $ 364,419 $ 23,273 $ 878,590 Commercial Residential Commercial Real Estate Real Estate and Industrial Indirect Consumer Totals Six months ended June 30, 2019 Allowance for loan losses: Beginning balance $ 1,080 $ 320 $ 1,542 $ 2,915 $ 789 $ 6,646 Provision for loan losses 172 (18) 364 1,032 10 1,560 Loans charged-off — — (12) (919) (15) (946) Recoveries — 3 1 578 16 598 Ending balance $ 1,252 $ 305 $ 1,895 $ 3,606 $ 800 $ 7,858 Ending balance: Loans deemed impaired $ — $ — $ 41 $ 69 $ 11 $ 121 Loans not deemed impaired $ 1,252 $ 305 $ 1,854 $ 3,537 $ 789 $ 7,737 Loan receivables: Ending balance $ 239,163 $ 39,959 $ 89,473 $ 338,367 $ 28,903 $ 735,865 Ending balance: Loans deemed impaired $ 2,054 $ 2,696 $ 307 $ 590 $ 503 $ 6,150 Loans not deemed impaired $ 237,109 $ 37,263 $ 89,166 $ 337,777 $ 28,400 $ 729,715 Commercial Residential Commercial Real Estate Real Estate and Industrial Indirect Consumer Totals December 31, 2019 Allowance for loan losses: Ending balance: Loans deemed impaired $ — $ — $ — $ 107 $ — $ 107 Loans not deemed impaired $ 2,009 $ 99 $ 603 $ 3,010 $ 126 $ 5,847 Loan receivables: Ending balance $ 268,640 $ 43,726 $ 90,554 $ 360,569 $ 26,028 $ 789,517 Ending balance: Loans deemed impaired $ 4,296 $ 2,341 $ 905 $ 953 $ 426 $ 8,921 Loans not deemed impaired $ 264,344 $ 41,385 $ 89,649 $ 359,616 $ 25,602 $ 780,596 In the normal course of business, the Company grants loans to officers, directors and other related parties. Balances and activity of such loans during the periods presented were not material.

Premises and Equipment

Premises and Equipment	6 Months Ended
	Jun. 30, 2020
Premises and Equipment
Premises and Equipment	4. Premises and Equipment Premises and equipment are summarized as follows: June 30, December 31, 2020 2019 Land $ 3,690 $ 3,690 Buildings and improvements 25,362 25,371 Furniture, fixtures and equipment 12,523 12,090 Construction in process 790 267 Total 42,365 41,418 Less accumulated depreciation (23,743) (23,080) Net $ 18,622 $ 18,338

Goodwill

Goodwill	6 Months Ended
	Jun. 30, 2020
Goodwill, Impaired [Abstract]
Goodwill	5. Goodwill The carrying value of goodwill did not change and was $1,410, while the accumulated impairment remained at $1,116, at both June 30, 2020 and December 31, 2019. During the second quarter, the Company considered the facts, circumstances and general economic declines as a result of COVID-19 and accordingly, performed a qualitative impairment analysis. The Company tested the goodwill recorded and determined that no write-down was required for the first six months of 2020 or the year 2019.

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2020
Intangible Assets
Intangible Assets	6. Intangible Assets The changes in the carrying value of customer list intangible are as follows: Six Months Year Ended Ended June 30, December 31, RAM 2020 2019 Beginning balance $ 241 $ 284 Amortization (21) (43) Ending balance $ 220 $ 241 Accumulated amortization and impairment $ 727 $ 706 The value assigned to customer list intangibles is based upon a multiple of the amount of commission revenue generated from the identified premiums. The customer lists are expected to have useful lives of 13 years and 4 months. The Company recognized $21 and $43 of amortization expense related to its intangible assets for the six months ended June 30, 2020 and the year ended December 31, 2019, respectively. The Company recognized $10 of amortization expense for the three months ended June 30, 2020. Impairment exists when a reporting unit’s carrying value exceeds it fair value. At June 30, 2020, the Company’s reporting unit had positive equity and the Company elected to perform a qualitative assessment to determine if it was more likely than not that the fair value of the reporting unit exceeded its carrying value, including goodwill. The qualitative assessment indicated that it was more likely than not that the fair value of the reporting unit exceeded its carrying value, resulting in no impairment. As of June 30, 2020, the future amortization expense for amortizable intangible assets for the respective years is as follows: 2020 $ 21 2021 42 2022 42 2023 42 2024 42 Thereafter 31 Total $ 220

Deposits

Deposits	6 Months Ended
	Jun. 30, 2020
Deposits [Abstract]
Deposits	7. Deposits Deposits balances are summarized as follows: June 30, December 31, 2020 2019 Noninterest bearing demand deposits $ 247,800 $ 179,236 Interest bearing accounts: NOW 117,925 95,572 Savings 146,913 121,139 Money market 164,437 158,747 Time certificates of deposit 232,964 218,649 Total interest bearing accounts 662,239 594,107 Total deposits $ 910,039 $ 773,343 Included in time certificates of deposit at June 30, 2020 and December 31, 2019 were reciprocal deposits totaling $29,443 and $21,270, respectively, with original maturities of one to three years. Time certificates of deposit in denominations of $250 or greater were $46,922 and $44,605 as of June 30, 2020 and December 31, 2019, respectively. Contractual maturities of time certificates of deposit at June 30, 2020 are summarized below: June 30, 2020 Within 1 year $ 174,646 1 – 2 years 37,769 2 – 3 years 7,093 3 – 4 years 7,296 4 – 5 years 6,160 Total $ 232,964

Long-Term Debt and FHLB Stock

Long-Term Debt and FHLB Stock	6 Months Ended
	Jun. 30, 2020
Long-Term Debt and FHLB Stock
Long-Term Debt and FHLB Stock	8. Long-Term Debt and FHLB Stock FHLB Borrowings and Stock The Bank is a member of the FHLB. At June 30, 2020 and December 31, 2019, the Bank had access to a preapproved secured line of credit with the FHLB of $564,068 and $486,906, respectively. Borrowings under this line require collateralization through the pledge of specific loans and securities. At June 30, 2020 and December 31, 2019, the Bank had pledged assets of $180,161 and $168,230, respectively. At June 30, 2020, the Bank also had structured borrowings with the FHLB in the amount of $59,016. The outstanding principal amounts and the related terms and rates at June 30, 2020 were as follows: Term Principal Maturity Rate Due in one year Long term 1 year bullet 10,000 February 1, 2021 0.80 % 10,000 — 2 year amortizing 5,063 May 17, 2021 2.53 % 5,063 — 2 year bullet 10,000 May 17, 2021 2.46 % 10,000 — 3 year amortizing 3,431 May 17, 2021 2.92 % 3,431 — 3 year amortizing 6,749 May 16, 2022 2.49 % 3,333 3,416 3 year bullet 10,000 May 16, 2022 2.44 % — 10,000 3 year amortizing 13,773 February 28, 2023 1.32 % 4,951 8,822 Total $ 59,016 Weighted Average Rate 1.95 % $ 36,778 $ 22,238 The Bank is required to maintain an investment in capital stock of the FHLB, as collateral, in an amount equal to a certain percentage of its outstanding debt. FHLB stock is considered restricted stock and is carried at cost. The Bank evaluates for impairment based on the ultimate recovery ability of the cost. No impairment was recognized at either June 30, 2020 or December 31, 2019. Subordinated Debt As part of the reorganization completed on January 16, 2019, the Company assumed both the common securities and related obligations of RSB Capital Trust I (“Trust”). The Trust, which has no independent assets or operations, was formed in 2005 for the sole purpose of issuing trust preferred securities and investing the proceeds thereof in an equivalent amount of junior subordinated debentures. The proceeds from the issuance of the trust preferred securities were down-streamed to the Bank and are currently considered Tier 1 capital for purposes of determining the Bank’s capital ratios. The trust securities also bear interest at 3-month LIBOR plus 2.00%. The duration of the Trust is 30 years. The subordinated debt securities of $5,155 are unsecured obligations of the Company and are subordinate and junior in right of payment to all present and future senior indebtedness of the Company. The Company has entered into a guarantee, which together with its obligations under the subordinated debt securities and the declaration of trust governing the Trust, including its obligations to pay costs, expenses, debts and liabilities, provides a full and unconditional guarantee of amounts on the capital securities. The subordinated debentures, which bear interest at 3-month LIBOR plus 2.00% (2.30% at June 30, 2020 and 3.91% at December 31, 2019) mature on May 23, 2035. Other Borrowings The Bank was a participant in the Federal Reserve’s Paycheck Protection Program Lending Facility which allowed us to present the PPP loans we originated as collateral for 100% principal funding at the Federal Reserve’s discount window. The term of the borrowings under the lending facility mirrored the actual maturity of the underlying collateral and had a fixed interest rate of 0.35%. During the second quarter, we received $70,100 in funding and at June 30, 2020, had paid back all but $12,100, which was repaid on July 2, 2020. On December 31, 2018, there was an outstanding advance on an unsecured credit line with Atlantic Community Bankers Bank of $5,000 to Rhinebeck Bancorp, MHC which was paid in full on January 16, 2019 at the close of the Company’s offering. The Bank also has an unsecured, uncommitted $10,000 line of credit with Zions Bank. There were no advances outstanding under this line of credit at either June 30, 2020 or December 31, 2019.

Employee Benefits

Employee Benefits	6 Months Ended
	Jun. 30, 2020
Employee Benefits
Employee Benefits	9 . Employee Benefits Pension Plan The Bank maintains a noncontributory defined benefit pension plan covering substantially all of its employees 21 years of age or older who had completed at least one year of service as of June 30, 2012, the effective date on which, the Board of Directors of the Bank voted to freeze the its defined benefit plan. The following table sets forth the plan’s funded status and amounts recognized in the Company’s consolidated statements of financial condition: Six months Year ended ended June 30, December 31, 2020 2019 Projected and accumulated benefit obligation $ (22,599) $ (20,953) Plan assets at fair value 21,371 20,628 Funded status included in accrued expenses and other liabilities $ (1,228) $ (325) The net periodic pension (benefit) cost and amounts recognized in other comprehensive income (loss) are as follows: Six months ended Six months ended June 30, June 30, 2020 2019 Interest cost $ 335 $ 370 Expected return on plan assets (529) (470) Amortization of unrecognized loss 143 219 Net periodic (benefit) cost $ (51) $ 119 The expected long-term rate of return on plan assets has been determined by applying historical average investment returns from published indexes relating to the current allocation of assets in the plan. Plan assets are invested in pooled separate accounts consisting of underlying investments in eleven diversified investment funds. As of June 30, 2020 the investment funds included seven equity funds and four fixed income funds, comprised of three bond funds and a real estate fund, each with its own investment objectives, investment strategies and risks, as detailed in the Company’s investment policy statement. The Company determines the appropriate strategic asset allocation versus plan liabilities, as governed by the investment policy statement. The assets of the plan are invested under the supervision of the Company’s investment committee in accordance with the investment policy statement. The investment options of the plan are chosen in a manner consistent with generally accepted standards of fiduciary responsibility. The investment performance of the Company’s individual investment managers, with the assistance of the Company’s investment consultant, is monitored on a quarterly basis and is reviewed at least annually relative to the objectives and guidelines as stated in the Company’s investment policy statement. The Company did not make a contribution to the plan in the first six months of 2020 or 2019. The fair value of the Company’s pension plan assets, by fair value hierarchy, are as follows: June 30, 2020 Level 1 Level 2 Level 3 Total Assets: Investment in separate accounts Fixed income $ 16,021 $ — $ — $ 16,021 Equity 5,350 — — 5,350 Total assets at fair value $ 21,371 $ — $ — $ 21,371 December 31, 2019 Level 1 Level 2 Level 3 Total Assets: Investment in separate accounts Fixed income $ 15,372 $ — $ — $ 15,372 Equity 5,256 — — 5,256 Total assets at fair value $ 20,628 $ — $ — $ 20,628 The pooled separate accounts are valued at the net asset per unit based on either the observable net asset value of the underlying investment or the net asset value of the underlying pool of securities. Net asset value is based on the value of the underlying assets owned by the fund, minus its liabilities and then divided by the number of shares outstanding. Pooled separate accounts were previously classified within level 2 of the valuation hierarchy, however, new guidance interpretation has prompted us to reclassify our input level to level 1 as the net asset value has a readily determinable fair value in a manner that is similar to that of a mutual fund. For a detailed disclosure on the Bank’s pension and employee benefits plans, please refer to Note 10 of the Company’s Consolidated Financial Statements for the year ended December 31, 2019 included in the Company’s Annual Report on Form 10‑K . Defined Contribution Plan The Company sponsors a 401(k) defined contribution plan. Participants are permitted, in accordance with the provisions of Section 401(k) of the Internal Revenue Code, to contribute up to 25% of their earnings (as defined) into the plan with the Company matching up to 6%, subject to Internal Revenue Service limitations. The Company’s contributions charged to operations amounted to $490 and $442 for the six months ended June 30, 2020 and 2019, respectively. Deferred Compensation Arrangements Directors’ Plan The Bank’s Deferred Compensation Plan for Fees of Directors, as amended and restated effective January 1, 2005 (the “Directors’ Plan”), covers Directors who elect to defer receipt of all or a portion of their fees until separation from service. Upon resignation, retirement, or death the participant’s total deferred compensation, including earnings thereon, will be paid out. At June 30, 2020 and December 31, 2019, total amounts due of $2,079 and $2,086, respectively, are included in accrued expenses and other liabilities. Total expenses related to the Directors’ Plan were $85 and $62 for the six months ended June 30, 2020 and 2019, respectively, which were included in other noninterest expense in the consolidated statements of income. Executive Long-Term Incentive and Retention Plan The Bank maintains an Executive Long-Term Incentive and Retention Plan (the “Executive Plan”). Participation in the Executive Plan is limited to officers of the Company designated as participants by the Board of Directors and who filed a properly completed and executed participation agreement in accordance with the terms of the Executive Plan. Under the Executive Plan, the Board of Directors may grant annual incentive awards equal to a percentage of a participant’s base salary at the rate in effect on the last day of the Plan year, as determined by the Board of Directors based on the attainment of criteria established annually by the Board of Directors. Incentive awards under the Executive Plan are credited to the participant’s incentive benefit account as of the last day of the Executive Plan year to which the award relates and earn interest at a rate determined annually by the Board of Directors. Participants vest in their benefit accounts in accordance with the vesting schedule approved by the Board of Directors, which ranges from one to five years of service. At June 30, 2020 and December 31, 2019, $1,198 and $1,163, respectively, is included in accrued expenses and other liabilities, which represents the cumulative amounts deferred and earnings thereon. The Company recognized expenses of $284 and $271 for the six months ended June 30, 2020 and 2019, respectively, related to this plan and which are included in salaries and employee benefits expense in the consolidated statements of income. Group Term Replacement Plan Under the terms of the “Group Term Replacement Plan”, the Company provides postretirement life insurance benefits to certain officers. The liability related to these postretirement benefits is being accrued over the individual participants’ service period and aggregated $1,359 and $1,330, respectively, at June 30, 2020 and December 31, 2019. The Company recognized expenses of $29 and $26 for the six-month periods ended June 30, 2020 and June 30, 2019, respectively, related to this plan which are included in salaries and employee benefits expense in the consolidated statements of income. Other Director and Officer Postretirement Benefits The Company has individual fee continuation agreements with certain directors and a supplemental retirement agreement with an executive officer which provide for fixed postretirement benefits to be paid to the directors and the officer, or their beneficiaries, for periods ranging from 15 to 20 years. In addition, the Company has agreements with certain directors which provide for certain postretirement life insurance benefits. The liability related to these postretirement benefits is being accrued over the individual participants’ service period and aggregated $2,134 and $2,123, respectively, at June 30, 2020 and December 31, 2019. The Company recognized expenses of $43 and $48 for the six months ended June 30, 2020 and 2019, respectively, related to these benefits which are included in other noninterest expenses in the consolidated statements of income. Employee Stock Ownership Plan On January 1, 2019, the Bank established an Employee Stock Ownership Plan (“ESOP”) to provide eligible employees the opportunity to own Company stock. The plan is a tax-qualified retirement plan for the benefit of Bank employees. On January 16, 2019, the Company granted a loan to the ESOP for the purchase of 436,425 shares of the Company’s common stock at a price of $10.00 per share. The loan obtained by the ESOP from the Company to purchase the common stock is payable annually over 20 years at a rate per annum equal to the Prime Rate, reset annually on January 1st (4.75% at January 1, 2020). Loan payments are funded by cash contributions from the Bank. The loan is secured by the shares purchased, which are held in a suspense account for allocation among participants as the loan is repaid. The balance of the ESOP loan at June 30, 2020 was $4,229. Contributions are allocated to eligible participants on the basis of compensation, subject to federal tax limits. The number of shares committed to be released annually is 21,821 through 2039. Shares held by the ESOP include the following: June 30, 2020 Allocated 21,821 Committed to be allocated 10,908 Unallocated 403,696 Total shares 436,425 The fair value of unallocated shares was $2,648 at June 30, 2020. Total compensation expense recognized in connection with the ESOP for the six months ended June 30, 2020 and 2019 was $92 and $183, respectively.

Leases

Leases	6 Months Ended
	Jun. 30, 2020
Leases
Leases	10. Leases As of June 30, 2020, the Company leases real estate for seven branch offices under various lease agreements. All of our leases are classified as operating leases, and therefore, were previously not recognized on the Company’s Consolidated Statements of Financial Condition. With the adoption of Topic 842, operating lease agreements are required to be recognized on the Consolidated Statements of Financial Condition as a right-of-use (“ROU”) asset and a corresponding lease liability. The calculated amount of the ROU assets and lease liabilities are impacted by the length of the lease term and the discount rate used to present value the minimum lease payments. The Company’s leases have maturities which range from 2020 to 2035, some of which include lessee options to extend the lease term. If the Company considers the exercising of a renewal option to be reasonably certain, the Company will include the extended term in the calculation of the ROU asset and lease liability. The weighted average remaining life of the lease terms for these leases was 13.1 years as of June 30, 2020. As most of our leases do not provide an implicit rate, the Company used its incremental borrowing rate, the rate of interest to borrow on a collateralized basis for a similar term, at the lease commencement date. The Company utilized a weighted average discount rate of 2.61% in determining the lease liability as of June 30, 2020. For the six months ended June 30, 2020, total operating lease costs were $291 and were included in occupancy and other expense. Deferred rent liability was $195 at June 30, 2020 and $213 at December 31, 2019. The right-of-use asset, included in other assets, was $6,500 and the corresponding lease liability, included in accrued expenses and other liabilities was $6,500 as of June 30, 2020. Future minimum payments for operating leases with initial or remaining terms of one year or more as of June 30, 2020 were as follows: Years ending December 31: 2020 $ 318 2021 637 2022 593 2023 570 2024 566 Thereafter 5,086 Total future minimum lease payments 7,770 Amounts representing interest (1,247) Present Value of Net Future Minimum Lease Payments $ 6,523

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies
Commitments and Contingencies	11. Commitments and Contingencies Legal Matters The Company is involved in various legal proceedings which have arisen in the normal course of business. Management believes that resolution of these matters will not have a material effect on the Company’s financial condition or results of operations. Employment Agreements The Company has entered into employment agreements with certain officers. The agreements provide for base salaries and incentive compensation based on performance criteria outlined in the agreements. The agreements also provide for insurance and various other benefits. Financial Instruments with Off-Balance-Sheet Risk In the normal course of business, the Company is a party to financial instruments with off-balance-sheet risk to meet the financing needs of its customers. These financial instruments include standby letters of credit and commitments to extend credit, which include new loan commitments and undisbursed portions of construction loans and other lines of credit. These financial instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in the statements of financial condition. The contractual amounts of those instruments reflect the extent of involvement the Company has in particular classes of financial instruments. The contractual amounts of commitments to extend credit represent the amounts of potential loss should the contract be fully drawn upon, the customer defaults and the value of any existing collateral become worthless. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. Financial instruments whose contract amounts represent off-balance sheet credit risk are as follows: June 30, December 31, 2020 2019 Commitments to extend credit summarized as follows: Future loan commitments $ 11,744 $ 9,881 Undisbursed construction loans 6,620 10,202 Undisbursed home equity lines of credit 10,494 10,277 Undisbursed commercial and other line of credit 61,470 59,234 Standby letters of credit 5,547 5,290 Total $ 95,875 $ 94,884 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Since these commitments could expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation of the counterparty. Collateral held varies but may include residential and commercial property, deposits and securities.

Regulatory Matters

Regulatory Matters	6 Months Ended
	Jun. 30, 2020
Regulatory Matters
Regulatory Matters	12. Regulatory Matters The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities and certain off-balance-sheet items, as calculated under regulatory accounting practices. The Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. The final rules implementing the BASEL Committee on Banking Supervisor’s Capital Guidance for U.S. Banks (BASEL III) became effective for the Bank on January 1, 2016. Compliance with the requirements was phased in over a four year period with full compliance as of January 1, 2019. All presented capital ratios are calculated using BASEL III rules. Pursuant to the Economic Growth, Regulatory Relief, and Consumer Protection Act, the federal banking agencies adopted, effective January 1, 2020, a final rule whereby financial institutions and financial institution holding companies that have less than $10 billion in total consolidated assets and meet other qualifying criteria, including a leverage ratio of greater than 9%, are eligible to opt into a “Community Bank Leverage Ratio” framework. The agencies reserved the authority to disallow the use of the Community Bank Leverage Ratio by a financial institution or holding company based on the risk profile of the organization. More recently, the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act and implementing rules temporarily reduced the community bank leverage ratio to 8%, to be gradually increased back to 9% by 2022. The CARES Act also provides that, during the same time period, if a qualifying community banking organization falls no more than 1% below the community bank leverage ratio, it will have a two-quarter grace period to satisfy the community bank leverage ratio. Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth in the tables below) of total, common equity Tier 1 and Tier I capital (as defined in the regulations) to risk-weighted assets (as defined) and of Tier I capital (as defined) to average assets (as defined). Management believes, as of June 30, 2020 and December 31, 2019, that the Bank met all capital adequacy requirements to which they are subject. The most recent notification from the Federal Deposit Insurance Corporation (“FDIC”) categorized the Bank as “well capitalized” under the regulatory framework. To be categorized as well capitalized, the Bank must maintain minimum total risk-based, common equity Tier 1, Tier I risk-based and Tier I leverage ratios as set forth in the table below. There are no conditions or events since then, which management believes have changed the Bank’s category. The Bank’s actual capital amounts and ratios were: To be Well Capitalized under For Capital Adequacy Prompt Corrective Action Actual Purposes Provisions Amount Ratio Amount Ratio Amount Ratio June 30, 2020 Rhinebeck Bank Total capital (to risk-weighted assets) $ 115,374 13.29 % $ 69,451 8.00 % $ 86,814 10.00 % Tier 1 capital (to risk-weighted assets) 106,802 12.30 % 52,088 6.00 % 69,451 8.00 % Common equity tier one capital (to risk weighted assets) 106,802 12.30 % 39,066 4.50 % 56,429 6.50 % Tier 1 capital (to average assets) 106,802 9.80 % 43,612 4.00 % 54,515 5.00 % December 31, 2019 Rhinebeck Bank Total capital (to risk-weighted assets) $ 109,799 12.83 % $ 68,481 8.00 % $ 85,602 10.00 % Tier 1 capital (to risk-weighted assets) 103,845 12.13 % 51,361 6.00 % 68,481 8.00 % Common equity tier one capital (to risk weighted assets) 103,845 12.13 % 38,521 4.50 % 55,641 6.50 % Tier 1 capital (to average assets) 103,845 10.84 % 38,325 4.00 % 47,907 5.00 %

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 2020
Fair Value
Fair Value	13. Fair Value As described in Note 1, the Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. A description of the valuation methodologies used for assets and liabilities recorded at fair value and for estimating fair value for financial and non-financial instruments not recorded at fair value, is set forth below. Cash and Due from Banks, Accrued Interest Receivable and Mortgagors’ Escrow Accounts The carrying amount is a reasonable estimate of fair value. Available for Sale Securities Where quoted prices are available in an active market for identical securities, securities are classified within Level 1 of the valuation hierarchy. If quoted prices are not available, then fair values are estimated by using pricing models (i.e., matrix pricing) or quoted prices of securities with similar characteristics and are classified within Level 2 of the valuation hierarchy. Examples of such instruments include government agency bonds, mortgage-backed securities and municipal bonds. The Company does not have any Level 3 securities for which significant unobservable inputs are utilized. Available for sale securities are recorded at fair value on a recurring basis. FHLB Stock The carrying value of FHLB stock approximates fair value based on the redemption provisions of the FHLB. Loans Loans receivable are carried at cost. For variable rate loans which reprice frequently and have no significant change in credit risk, carrying values are a reasonable estimate of fair values, adjusted for credit losses inherent in the portfolios. The fair value of fixed rate loans is estimated by discounting the future cash flows using the year end rates, estimated using local market data, at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities, adjusted for credit losses inherent in the portfolios. The Company does not record loans at fair value on a recurring basis. However, from time to time, nonrecurring fair value adjustments to collateral-dependent impaired loans are recorded to reflect partial write-downs based on the observable market price or current appraised value of collateral. The fair value of loans held for sale is estimated using quoted market prices. Other Real Estate Owned Other real estate owned represents real estate acquired through foreclosure and is carried at the lower of cost or fair value less estimated selling costs. Fair value is based upon independent market prices, appraised values of the collateral or management’s estimation of the value of the collateral. These assets are included as Level 3 fair values, based upon the lowest level of input that is utilized in the fair value measurements. Mortgage Servicing Rights The fair value of mortgage servicing rights is based on a valuation model that calculates the present value of estimated future net servicing income. Deposits Deposit liabilities are carried at cost. The fair value of NOW, savings and money market deposits is the amount payable on demand at the reporting date. The fair value of time certificates of deposit is estimated using a discounted cash flow calculation that applies interest rates currently being offered for deposits of similar remaining maturities estimated using local market data to a schedule of aggregated expected maturities on such deposits. Advances from the FHLB The fair value of the advances is estimated using a discounted cash flow calculation that applies current FHLB interest rates for advances of similar maturity to a schedule of maturities of such advances. FRB Borrowings Due to the short-term nature of these instruments, the carrying value is considered to approximate fair value. Subordinated Debt Based on the floating rate characteristic of these instruments, the carrying value is considered to approximate fair value. Other Borrowings Based on the floating rate characteristic of these instruments, the carrying value is considered to approximate fair value. Off-Balance-Sheet Instruments Fair values for off-balance-sheet lending commitments are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties’ credit standings. Such amounts are not significant. The following tables detail the assets that are carried at fair value on a recurring basis as of the periods shown and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine the fair value: Quoted Prices in Active Markets Significant Significant for Identical Observable Unobservable Balance Assets (Level 1) Inputs (Level 2) Inputs (Level 3) June 30, 2020 U.S. government agency mortgage-backed securities-residential $ 95,688 $ — $ 95,688 $ — U.S. government agency securities 5,179 — 5,179 — Municipal securities 1,408 — 1,228 180 Corporate Bonds 2,268 — 2,268 — Other 595 — 595 — Total $ 105,138 $ — $ 104,958 $ 180 December 31, 2019 U.S. government agency mortgage-backed securities – residential $ 98,478 $ — $ 98,478 $ — U.S. government agency securities 12,076 — 12,076 — Municipal securities 1,396 — 1,216 180 Corporate Bonds 2,273 — 2,273 — Other 609 — 609 — Total $ 114,832 $ — $ 114,652 $ 180 The following tables detail the assets carried at fair value and measured at fair value on a nonrecurring basis as of June 30, 2020 and December 31, 2019 and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine the fair value: Quoted Prices in Active Markets Significant Significant for Identical Observable Unobservable Balance Assets (Level 1) Inputs (Level 2) Inputs (Level 3) June 30, 2020 Impaired loans, with specific reserves $ 559 $ — $ — $ 559 Other real estate owned 1,178 — — 1,178 Total $ 1,737 $ — $ — $ 1,737 December 31, 2019 Impaired loans $ 239 $ — $ — $ 239 Other real estate owned 1,417 — — 1,417 Total $ 1,656 $ — $ — $ 1,656 The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Company has utilized Level 3 inputs to determine fair value: Quantitative Information About Level 3 Fair Value Measurements Fair Value Valuation Unobservable Range Estimate Techniques Input (Weighted Average) June 30, 2020 Impaired loans $ 559 Appraisal of collateral (1) Appraisal adjustments (2) 0% to 20% Other real estate owned 1,178 Appraisal of collateral (1) Liquidation expenses (3) 0% to 6% Appraisal adjustments (2) 0% to 20% December 31, 2019 Impaired loans $ 239 Appraisal of collateral (1) Appraisal adjustments (2) 0% to 20% Other real estate owned 1,417 Appraisal of collateral (1) Liquidation expenses (3) 0% to 6% Appraisal adjustments (2) 0% to 20% (1) Fair value is generally through independent appraisals of the underlying collateral that generally include various level 3 inputs which are not identifiable. (2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraised value. (3) Estimated costs to sell. The Company discloses fair value information about financial instruments, whether or not recognized in the statements of financial condition, for which it is practicable to estimate that value. Certain financial instruments are excluded from disclosure requirements. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of the Company. The estimated fair value amounts for 2020 and 2019 have been measured as of their respective reporting dates and have not been reevaluated or updated for purposes of these financial statements subsequent to those respective dates. As such, the estimated fair values of these financial instruments subsequent to the respective reporting dates may be different than amounts reported at each year-end. The information presented should not be interpreted as an estimate of the fair value of the entire Company since a fair value calculation is only required for a limited portion of the Company’s assets and liabilities. Due to the wide range of valuation techniques and the degree of subjectivity used in making the estimates, comparisons between the Company’s disclosures and those of other companies may not be meaningful. As of the following dates, the carrying value and fair values of the Company’s financial instruments were: June 30, December 31, 2020 2019 Carrying Value Fair Value Carrying Value Fair Value Financial Assets: Cash and due from banks (Level 1) $ 74,574 $ 74,574 $ 11,978 $ 11,978 Available for sale securities (Level 2) 105,138 105,138 114,832 114,832 FHLB stock (Level 2) 3,162 3,162 3,435 3,435 Loans, net (Level 3) 887,320 899,925 793,471 796,262 Accrued interest receivable (Level 2) 3,676 3,676 2,903 2,903 Mortgage servicing rights (Level 3) 2,265 3,486 2,226 4,137 Financial Liabilities: Deposits (Level 2) 910,039 929,438 773,343 762,272 Mortgagors escrow accounts (Level 2) 11,366 11,376 8,106 8,107 FHLB advances (Level 2) 59,016 60,185 66,304 66,724 FRB borrowings (Level 2) 12,080 12,084 — — Subordinated debt and other borrowings (Level 2) 5,155 5,155 5,155 5,155

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2020
Revenue Recognition
Revenue Recognition	14. Revenue Recognition The Company generally fully satisfies its performance obligations on its contracts with customers as services are rendered and the transaction prices are typically fixed; charged either on a periodic basis or based on activity. Because performance obligations are satisfied as services are rendered and the transaction prices are fixed, there is little judgment involved in applying ASC Topic 606 that significantly affects the determination of the amount and timing of revenue from contracts with customers. The main types of revenue contracts included in non-interest income within the consolidated statements of operations are as follows:  Fees for services to customers include service charges on deposits which are included as liabilities in the consolidated statements of financial condition and consist of transaction-based fees: stop payment fees, Automated Clearing House (ACH) fees, account maintenance fees, wire fees, official check fees and overdraft services fees for various retail and business checking customers. These fees are charged as earned on the day of the transaction or within the month of the service. Service charges on deposits are withdrawn directly from the customer’s account balance. ATM and debit card fees are recognized at the time the transaction is executed as that is the point in time the Company fulfills the customer’s request. Sales of checks to depositors earn fees as a contractual discount to the retail price of the sale from a third-party provider. These fees earned are remitted by the third-party to the Company quarterly.  The Company earns interchange fee income from credit/debit cardholder transactions conducted through MasterCard payment networks. Interchange fees from cardholder transactions represent a percentage of the underlying transaction value and are recognized monthly, concurrently with the transaction processing services provided to the cardholder within the month.  The Company records a gain or loss from the sale of OREO when control of the property transfers to the buyer, which generally occurs at the time of an executed deed at which time the OREO asset is derecognized and the gain or loss on the sale is recorded. Rental income received from leased OREO property is recognized during the month it is earned.  Retail brokerage and advisory fee income is accrued monthly to properly record the revenues in the month they are earned. Advisory fees are collected in advance on a quarterly basis. These advisory fees are recorded in the first month of the quarter for which the service is being performed. Investments into mutual funds and annuities generate fees that are recorded as revenue at the time of the initial sale. In subsequent years, the mutual funds and variable annuities generate recurring fees (referred to as 12B‑1 fees) that are paid in advance on the anniversary of the original transaction. Fees that are transaction based are recognized at the point in time that the transaction is executed (i.e. trade date). Life insurance products are sold on a commission basis that generates a fee that is recorded as revenue within the month of the approved transaction. Other income includes rental income, mortgage origination and service fees and late fees on serviced mortgages. All items are recorded as revenue within the month that the service is provided.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2020
Accumulated Other Comprehensive Loss.
Accumulated Other Comprehensive Loss	15. Accumulated Other Comprehensive Loss The activity in accumulated other comprehensive loss for the three and six months ended June 30, 2020 and 2019, is as follows: Accumulated Other Comprehensive Loss (1) Unrealized gains (losses) on Defined Benefit available for sale Pension Plan securities Total Balance at March 31, 2020 $ (3,631) $ 2,412 $ (1,219) Other comprehensive loss before reclassifications (1,088) (570) (1,658) Amounts reclassified from accumulated other comprehensive loss 56 — 56 Period change (1,032) (570) (1,602) Balance at June 30, 2020 $ (4,663) $ 1,842 $ (2,821) Balance at March 31, 2019 $ (4,381) $ (1,535) $ (5,916) Other comprehensive (loss) gain before reclassifications (32) 1,492 1,460 Amounts reclassified from accumulated other comprehensive loss 70 31 101 Period change 38 1,523 1,561 Balance at June 30, 2019 $ (4,343) $ (12) $ (4,355) Accumulated Other Comprehensive Loss (1) Unrealized gains (losses) on Defined Benefit available for sale Pension Plan securities Total Balance at December 31, 2019 $ (3,909) $ (195) $ (4,104) Other comprehensive (loss) gain before reclassifications (867) 2,014 1,147 Amounts reclassified from accumulated other comprehensive loss 113 23 136 Period change (754) 2,037 1,283 Balance at June 30, 2020 $ (4,663) $ 1,842 $ (2,821) Balance at December 31, 2018 $ (4,436) $ (2,576) $ (7,012) Other comprehensive (loss) gain before reclassifications (48) 2,533 2,485 Amounts reclassified from accumulated other comprehensive loss 141 31 172 Period change 93 2,564 2,657 Balance at June 30, 2019 $ (4,343) $ (12) $ (4,355)

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2020
Earnings Per Share
Earnings Per Share	16. Earnings Per Share Basic earnings per share represent income available to common stockholders divided by the weighted-average number of common shares outstanding during the period. Unearned ESOP shares are not deemed outstanding for earnings per share calculations. There were no potentially dilutive common stock equivalents for the three and six months ended June 30, 2020 or 2019. Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 Net income applicable to common stock $ 1,348 $ 1,221 $ 2,423 $ 2,132 Average number of common shares outstanding 11,133,290 11,133,290 11,133,290 11,133,290 Less: Average unearned ESOP shares 406,423 428,243 409,150 430,970 Average number of common shares outstanding used to calculate basic and diluted earnings per common share 10,726,867 10,705,047 10,724,140 10,702,320 Earnings per Common share: Basic $ 0.13 $ 0.11 $ 0.23 $ 0.20 Diluted $ 0.13 $ 0.11 $ 0.23 $ 0.20

Nature of Business and Signif_2

Nature of Business and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2020
Nature of Business and Significant Accounting Policies
Basis of Financial Statement Presentation	Basis of Financial Statements Presentation The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and general practices within the banking industry. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities, as of the date of the consolidated statements of financial condition and reported amounts of revenues and expenses for the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, the valuation of securities and other real estate owned, the evaluation of investment securities for other-than-temporary impairment, the evaluation of goodwill for impairment, the valuation of deferred tax assets and the determination of pension obligations.
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. All significant intercompany accounts and transactions have been eliminated in consolidation.
Reclassifications	Reclassifications Certain amounts in the prior year consolidated financial statements have been reclassified to conform to the current year’s presentation.
COVID-19	COVID-19 On March 11, 2020, the World Health Organization declared the outbreak of a novel coronavirus (“COVID-19”) as a global pandemic, which continues to spread throughout the United States and around the world. The declaration of the global pandemic indicated that almost all public commerce and related business activities were, to varying degrees, curtailed with the goal of decreasing the rate of new infections. The outbreak of COVID-19 adversely impacted a broad range of industries in which the Company’s customers operate and impaired their ability to fulfill their financial obligations to the Company to a degree. In March, the Federal Open Market Committee brought the target range for the federal funds rate to near zero. These reductions in interest rates and other effects of the COVID-19 outbreak will likely adversely affect the Company’s financial condition and results of operations. As a result of the spread of COVID-19, economic uncertainties have arisen which are likely to negatively impact net interest income, noninterest income, the provision for loan losses and bad debts. Other financial impacts could occur though such potential impacts are unknown at this time.
Impact of Recent Accounting Pronouncements	Impact of Recent Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, Leases (“Topic 842”), which created FASB Accounting Standards Codification (“ASC”) Topic 842 (“ASC 842”) and is intended to increase transparency and comparability among organizations by requiring the recognition of lease assets and lease liabilities on the balance sheet and disclosure of key information about leasing arrangements. The principal change required by ASC 842 related to lessee accounting, is that for operating leases, a lessee is required to (1) recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, in the statement of financial position, (2) recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term generally on a straight-line basis, and (3) classify all cash payments within operating activities in the statement of cash flows. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. If a lessee makes this election, it should recognize lease expense for such leases generally on a straight-line basis over the lease term. ASC 842 also changes disclosure requirements related to leasing activities and requires certain qualitative disclosures along with specific quantitative disclosures. ASC 842 also provides an optional transition method for adoption, under which an entity initially applies ASC 842 at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. Consequently, an entity's reporting for the comparative periods presented in the financial statements in which it adopts ASC 842 will continue to be in accordance with current GAAP. The Company adopted the provisions of ASC 842 effective January 1, 2020 utilizing the optional transition method and did not restate comparative periods. The Company elected the package of practical expedients permitted under ASC 842's transition guidance, which allows the Company to carryforward its historical lease classifications and its assessment as to whether a contract is or contains a lease. The Company elected to not recognize lease assets and lease liabilities for leases with an initial term of 12 months or less. Upon adoption, the Company recorded an increase in other assets and an increase in other liabilities of approximately $6,700, respectively. See Note 10 of the footnotes to the consolidated financial statements. In June 2016, the FASB issued ASU No. 2016‑13 on “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”. This ASU requires credit losses on most financial assets be measured at amortized cost and certain other instruments to be measured using an expected credit loss model (referred to as the current expected credit loss (“CECL”) model). Under this model, entities will estimate credit losses over the entire contractual term of the instrument (considering estimated prepayments, but not expected extensions or modifications unless reasonable expectation of a troubled debt restructuring exists) from the date of initial recognition of that instrument. The measurement of expected credit losses is based upon relevant information about past events, including historical experience, current conditions and reasonable and supportable forecasts that affect the collectability of the reported amount. On October 16, 2019, the FASB approved a delay for conversion to the CECL methodology to January 2023 for smaller reporting companies, other public business entities, private companies and non-profits; although early adoption is permitted in 2019. While the Company is currently assessing the effect of ASU No. 2016‑13 and has engaged with a software vendor to assist in its efforts; it is unlikely that the Company will early adopt this ASU.
Emerging Growth Company Status	Emerging Growth Company Status As an emerging growth company, the Company may delay adoption of new or revised financial accounting standards until such date that the standards are required to be adopted by non-issuer companies. If such standards would not apply to non-issuer companies, no deferral would be applicable. The Company intends to take advantage of the benefits of the extended transition periods allowed under the Jumpstart Our Business Startups Act. Accordingly, the Company’s consolidated financial statements may not be comparable to those of public companies that adopt new or revised financial accounting standards as of an earlier date. The effective dates of the recent accounting standards reflect those that relate to non-issuer companies.

Investment Securities (Tables)

Investment Securities (Tables)	6 Months Ended
	Jun. 30, 2020
Investment Securities
Schedule of amortized cost, gross unrealized gains and losses and fair values of available for sale securities	June 30, 2020 Gross Gross Unrealized Unrealized Amortized Cost Gains Losses Fair Value U.S. government agency mortgage-backed securities–residential $ 93,577 $ 2,235 $ (124) $ 95,688 U.S. government agency securities 5,018 161 — 5,179 Municipal securities (1) 1,383 25 — 1,408 Corporate bonds 2,250 33 (15) 2,268 Other 579 16 — 595 Total $ 102,807 $ 2,470 $ (139) $ 105,138 December 31, 2019 U.S. government agency mortgage-backed securities–residential $ 98,842 $ 464 $ (828) $ 98,478 U.S. government agency securities 12,049 53 (26) 12,076 Municipal securities (1) 1,384 17 (5) 1,396 Corporate bonds 2,250 25 (2) 2,273 Other 555 54 — 609 Total $ 115,080 $ 613 $ (861) $ 114,832 1 The issuers of municipal securities are all within New York State.
Schedule of gross unrealized losses and fair value, securities in continuous unrealized loss position	June 30, 2020 Less Than 12 Months 12 Months or Longer Total Unrealized Unrealized Unrealized Fair Value Losses Fair Value Losses Fair Value Losses U.S. government agency mortgage-backed securities-residential $ 9,080 $ (109) $ 774 $ (15) $ 9,854 $ (124) Corporate Bonds 985 (15) — — 985 (15) Total $ 10,065 $ (124) $ 774 $ (15) $ 10,839 $ (139) December 31, 2019 U.S. government agency mortgage-backed securities-residential $ 35,612 $ (302) $ 27,252 $ (526) $ 62,864 $ (828) U.S. government agency securities — — 7,001 (26) 7,001 (26) Municipal Securities 490 (5) — — 490 (5) Corporate Bonds 749 (2) — — 749 (2) Total $ 36,851 $ (309) $ 34,253 $ (552) $ 71,104 $ (861)
Schedule of maturities of debt securities	June 30, 2020 December 31, 2019 Amortized Cost Fair Value Amortized Cost Fair Value Maturity: Within 1 year $ 175 $ 175 $ 175 $ 175 After 1 but within 5 years — — 7,027 7,001 After 5 but within 10 years 7,801 8,005 7,806 7,899 After 10 years 675 675 675 670 Total Maturities 8,651 8,855 15,683 15,745 Mortgage-backed securities 93,577 95,688 98,842 98,478 Other 579 595 555 609 Total $ 102,807 $ 105,138 $ 115,080 $ 114,832

Loans and Allowance for Loan _2

Loans and Allowance for Loan Losses (Tables)	6 Months Ended
	Jun. 30, 2020
Loans and Allowance for Loan Losses
Schedule of summary loan portfolio	June 30, December 31, 2020 2019 Commercial real estate loans: Construction $ 10,339 $ 20,354 Non-residential 242,199 228,157 Multi-family 30,145 20,129 Residential real estate loans 41,682 43,726 Commercial and industrial loans (1) 175,120 90,554 Consumer loans: Indirect automobile 365,455 360,569 Home equity 14,804 16,276 Other consumer 9,008 9,752 Total gross loans 888,752 789,517 Net deferred loan costs 7,140 9,908 Allowance for loan losses (8,572) (5,954) Total net loans $ 887,320 $ 793,471 ( 1 ) Includes $89,092 in U.S. Small Business Administration (“SBA”), paycheck protection program (“PPP”) loans.
Schedule of loans by risk rating and portfolio segment	June 30, 2020 Pass Special Mention Substandard Total Commercial real estate: Construction $ 10,339 $ — $ — $ 10,339 Non-residential 233,325 4,610 4,264 242,199 Multifamily 29,776 — 369 30,145 Residential real estate 39,127 — 2,555 41,682 Commercial and industrial 173,747 546 827 175,120 Consumer: Indirect automobile 364,419 — 1,036 365,455 Home equity 14,274 — 530 14,804 Other consumer 8,987 — 21 9,008 Total $ 873,994 $ 5,156 $ 9,602 $ 888,752 December 31, 2019 Pass Special Mention Substandard Total Commercial real estate: Construction $ 20,354 $ — $ — $ 20,354 Non-residential 219,485 4,285 4,387 228,157 Multifamily 19,744 — 385 20,129 Residential real estate 41,385 — 2,341 43,726 Commercial and industrial 88,874 597 1,083 90,554 Consumer: Indirect automobile 359,616 — 953 360,569 Home equity 15,861 — 415 16,276 Other consumer 9,741 — 11 9,752 Total $ 775,060 $ 4,882 $ 9,575 $ 789,517
Schedule of classes of the loan portfolio by the aging categories of performing loans and nonaccrual loans	June 30, 2020 Greater Than 30-59 Days 60-89 Days 90 Days Past Total Loans Current Past Due Past Due Due Receivable Non-accrual Commercial real estate: Construction $ 10,339 $ — $ — $ — $ 10,339 $ — Non-residential 235,203 218 1,662 5,116 242,199 5,116 Multifamily 29,776 — — 369 30,145 369 Residential real estate 37,398 297 1,432 2,555 41,682 2,555 Commercial and industrial 174,318 55 200 547 175,120 547 Consumer: Indirect automobile 357,827 5,175 1,417 1,036 365,455 1,036 Home equity 13,826 138 310 530 14,804 530 Other consumer 8,804 159 36 9 9,008 9 Total $ 867,491 $ 6,042 $ 5,057 $ 10,162 $ 888,752 $ 10,162 December 31, 2019 Greater Than 30-59 Days 60-89 Days 90 Days Past Total Loans Current Past Due Past Due Due Receivable Non-accrual Commercial real estate: Construction $ 20,354 $ — $ — $ — $ 20,354 $ — Non-residential 222,953 409 884 3,911 228,157 3,911 Multifamily 19,744 — — 385 20,129 385 Residential real estate 42,403 427 116 780 43,726 2,341 Commercial and industrial 89,401 288 198 667 90,554 905 Consumer: Indirect automobile 351,840 6,494 1,294 941 360,569 953 Home equity 15,726 142 91 317 16,276 415 Other consumer 9,492 201 48 11 9,752 11 Total $ 771,913 $ 7,961 $ 2,631 $ 7,012 $ 789,517 $ 8,921
Schedule of information to impaired loans by loan portfolio class	June 30, 2020 Recorded Unpaid Principal Related Average Recorded Investment Balance Allowance Investment With no related allowance recorded: Commercial real estate: Non-residential $ 5,116 $ 6,998 $ — $ 4,341 Multifamily 369 400 — 374 Residential real estate 2,555 2,951 — 2,410 Commercial and industrial 497 679 — 631 Consumer: Indirect automobile 276 316 — 409 Home equity 530 562 — 456 Other consumer 7 6 — 10 Total $ 9,350 $ 11,912 $ — $ 8,631 With an allowance recorded: Commercial and industrial $ 50 $ 50 $ 25 $ 17 Consumer: Indirect automobile 760 782 226 457 Other consumer 2 2 2 1 Total $ 812 $ 834 $ 253 $ 475 Total: Commercial real estate: Non-residential $ 5,116 $ 6,998 $ — $ 4,341 Multifamily 369 400 — 374 Residential real estate 2,555 2,951 — 2,410 Commercial and industrial 547 729 25 648 Consumer: Indirect automobile 1,036 1,098 226 866 Home equity 530 562 — 456 Other consumer 9 8 2 11 Total $ 10,162 $ 12,746 $ 253 $ 9,106 December 31, 2019 Recorded Unpaid Principal Related Average Recorded Investment Balance Allowance Investment With no related allowance recorded: Commercial real estate: Non-residential $ 3,911 $ 5,733 $ — $ 3,209 Multifamily 385 409 — 192 Residential real estate 2,341 2,850 — 2,313 Commercial and industrial 905 1,109 — 601 Consumer: Indirect automobile 607 740 — 441 Home equity 415 467 — 307 Other consumer 11 11 — 10 Total $ 8,575 $ 11,319 $ — $ 7,073 With an allowance recorded: Consumer: Indirect automobile 346 $ 376 $ 107 $ 262 Total $ 346 $ 376 $ 107 $ 262 Total: Commercial real estate: Non-residential $ 3,911 $ 5,733 $ — $ 3,209 Multifamily 385 409 — 192 Residential real estate 2,341 2,850 — 2,313 Commercial and industrial 905 1,109 — 601 Consumer: Indirect automobile 953 1,116 107 703 Home equity 415 467 — 307 Other consumer 11 11 — 10 Total $ 8,921 $ 11,695 $ 107 $ 7,335
Schedule of loan balances by segment	Commercial Commercial Real Estate Residential and Industrial Indirect Consumer Totals Three months ended June 30, 2020 Allowance for loan losses: Beginning balance $ 2,153 $ 99 $ 601 $ 3,638 $ 129 $ 6,620 Provision for loan losses 520 26 254 1,450 5 2,255 Loans charged-off — — (1) (478) (2) (481) Recoveries — — 5 169 4 178 Ending balance $ 2,673 $ 125 $ 859 $ 4,779 $ 136 $ 8,572 Commercial Residential Commercial Real Estate Real Estate and Industrial Indirect Consumer Totals Three months ended June 30, 2019 Allowance for loan losses: Beginning balance $ 1,159 $ 286 $ 1,575 $ 3,380 $ 783 $ 7,183 Provision for loan losses 93 17 327 329 14 780 Loans charged-off — — (7) (424) (9) (440) Recoveries — 2 — 321 12 335 Ending balance $ 1,252 $ 305 $ 1,895 $ 3,606 $ 800 $ 7,858 Commercial Residential Commercial Real Estate Real Estate and Industrial Indirect Consumer Totals Six months ended June 30, 2020 Allowance for loan losses: Beginning balance $ 2,009 $ 99 $ 603 $ 3,117 $ 126 $ 5,954 Provision for loan losses 664 26 285 2,461 19 3,455 Loans charged-off — — (39) (1,189) (18) (1,246) Recoveries — — 10 390 9 409 Ending balance $ 2,673 $ 125 $ 859 $ 4,779 $ 136 $ 8,572 Ending balance: Loans deemed impaired $ — $ — $ 25 $ 226 $ 2 $ 253 Loans not deemed impaired $ 2,673 $ 125 $ 834 $ 4,553 $ 134 $ 8,319 Loan receivables: Ending balance $ 282,683 $ 41,682 $ 175,120 $ 365,455 $ 23,812 $ 888,752 Ending balance: Loans deemed impaired $ 5,485 $ 2,555 $ 547 $ 1,036 $ 539 $ 10,162 Loans not deemed impaired $ 277,198 $ 39,127 $ 174,573 $ 364,419 $ 23,273 $ 878,590 Commercial Residential Commercial Real Estate Real Estate and Industrial Indirect Consumer Totals Six months ended June 30, 2019 Allowance for loan losses: Beginning balance $ 1,080 $ 320 $ 1,542 $ 2,915 $ 789 $ 6,646 Provision for loan losses 172 (18) 364 1,032 10 1,560 Loans charged-off — — (12) (919) (15) (946) Recoveries — 3 1 578 16 598 Ending balance $ 1,252 $ 305 $ 1,895 $ 3,606 $ 800 $ 7,858 Ending balance: Loans deemed impaired $ — $ — $ 41 $ 69 $ 11 $ 121 Loans not deemed impaired $ 1,252 $ 305 $ 1,854 $ 3,537 $ 789 $ 7,737 Loan receivables: Ending balance $ 239,163 $ 39,959 $ 89,473 $ 338,367 $ 28,903 $ 735,865 Ending balance: Loans deemed impaired $ 2,054 $ 2,696 $ 307 $ 590 $ 503 $ 6,150 Loans not deemed impaired $ 237,109 $ 37,263 $ 89,166 $ 337,777 $ 28,400 $ 729,715 Commercial Residential Commercial Real Estate Real Estate and Industrial Indirect Consumer Totals December 31, 2019 Allowance for loan losses: Ending balance: Loans deemed impaired $ — $ — $ — $ 107 $ — $ 107 Loans not deemed impaired $ 2,009 $ 99 $ 603 $ 3,010 $ 126 $ 5,847 Loan receivables: Ending balance $ 268,640 $ 43,726 $ 90,554 $ 360,569 $ 26,028 $ 789,517 Ending balance: Loans deemed impaired $ 4,296 $ 2,341 $ 905 $ 953 $ 426 $ 8,921 Loans not deemed impaired $ 264,344 $ 41,385 $ 89,649 $ 359,616 $ 25,602 $ 780,596

Premises and Equipment (Tables)

Premises and Equipment (Tables)	6 Months Ended
	Jun. 30, 2020
Premises and Equipment
Schedule of premises and equipment	June 30, December 31, 2020 2019 Land $ 3,690 $ 3,690 Buildings and improvements 25,362 25,371 Furniture, fixtures and equipment 12,523 12,090 Construction in process 790 267 Total 42,365 41,418 Less accumulated depreciation (23,743) (23,080) Net $ 18,622 $ 18,338

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2020
Intangible Assets
Schedule of changes in the carrying value of customer list intangible	Six Months Year Ended Ended June 30, December 31, RAM 2020 2019 Beginning balance $ 241 $ 284 Amortization (21) (43) Ending balance $ 220 $ 241 Accumulated amortization and impairment $ 727 $ 706
Schedule of future amortization expense for amortizable intangible assets	2020 $ 21 2021 42 2022 42 2023 42 2024 42 Thereafter 31 Total $ 220

Deposits (Tables)

Deposits (Tables)	6 Months Ended
	Jun. 30, 2020
Deposits [Abstract]
Schedule of deposits	June 30, December 31, 2020 2019 Noninterest bearing demand deposits $ 247,800 $ 179,236 Interest bearing accounts: NOW 117,925 95,572 Savings 146,913 121,139 Money market 164,437 158,747 Time certificates of deposit 232,964 218,649 Total interest bearing accounts 662,239 594,107 Total deposits $ 910,039 $ 773,343
Schedule of contractual maturities of time certificates of deposit	June 30, 2020 Within 1 year $ 174,646 1 – 2 years 37,769 2 – 3 years 7,093 3 – 4 years 7,296 4 – 5 years 6,160 Total $ 232,964

Long-Term Debt and FHLB Stock (

Long-Term Debt and FHLB Stock (Tables)	6 Months Ended
	Jun. 30, 2020
Long-Term Debt and FHLB Stock
Schedule of outstanding principal amounts and related terms of FHLBNY borrowings	Term Principal Maturity Rate Due in one year Long term 1 year bullet 10,000 February 1, 2021 0.80 % 10,000 — 2 year amortizing 5,063 May 17, 2021 2.53 % 5,063 — 2 year bullet 10,000 May 17, 2021 2.46 % 10,000 — 3 year amortizing 3,431 May 17, 2021 2.92 % 3,431 — 3 year amortizing 6,749 May 16, 2022 2.49 % 3,333 3,416 3 year bullet 10,000 May 16, 2022 2.44 % — 10,000 3 year amortizing 13,773 February 28, 2023 1.32 % 4,951 8,822 Total $ 59,016 Weighted Average Rate 1.95 % $ 36,778 $ 22,238

Employee Benefits (Tables)

Employee Benefits (Tables)	6 Months Ended
	Jun. 30, 2020
Employee Benefits
Schedule of plan's funded status and amounts recognized in consolidated statement of financial condition	Six months Year ended ended June 30, December 31, 2020 2019 Projected and accumulated benefit obligation $ (22,599) $ (20,953) Plan assets at fair value 21,371 20,628 Funded status included in accrued expenses and other liabilities $ (1,228) $ (325)
Schedule of net periodic pension (benefit) cost and amounts recognized in other comprehensive income (loss)	Six months ended Six months ended June 30, June 30, 2020 2019 Interest cost $ 335 $ 370 Expected return on plan assets (529) (470) Amortization of unrecognized loss 143 219 Net periodic (benefit) cost $ (51) $ 119
Schedule of fair value of pension plan assets, by fair value hierarchy	June 30, 2020 Level 1 Level 2 Level 3 Total Assets: Investment in separate accounts Fixed income $ 16,021 $ — $ — $ 16,021 Equity 5,350 — — 5,350 Total assets at fair value $ 21,371 $ — $ — $ 21,371 December 31, 2019 Level 1 Level 2 Level 3 Total Assets: Investment in separate accounts Fixed income $ 15,372 $ — $ — $ 15,372 Equity 5,256 — — 5,256 Total assets at fair value $ 20,628 $ — $ — $ 20,628
Schedule of employee stock ownership plan	June 30, 2020 Allocated 21,821 Committed to be allocated 10,908 Unallocated 403,696 Total shares 436,425

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2020
Leases
Schedule of future minimum payments for operating leases	Years ending December 31: 2020 $ 318 2021 637 2022 593 2023 570 2024 566 Thereafter 5,086 Total future minimum lease payments 7,770 Amounts representing interest (1,247) Present Value of Net Future Minimum Lease Payments $ 6,523

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies
Schedule of contract amounts represent off-balance sheet credit risk	June 30, December 31, 2020 2019 Commitments to extend credit summarized as follows: Future loan commitments $ 11,744 $ 9,881 Undisbursed construction loans 6,620 10,202 Undisbursed home equity lines of credit 10,494 10,277 Undisbursed commercial and other line of credit 61,470 59,234 Standby letters of credit 5,547 5,290 Total $ 95,875 $ 94,884

Regulatory Matters (Tables)

Regulatory Matters (Tables)	6 Months Ended
	Jun. 30, 2020
Regulatory Matters
Schedule of actual capital amounts and ratios	To be Well Capitalized under For Capital Adequacy Prompt Corrective Action Actual Purposes Provisions Amount Ratio Amount Ratio Amount Ratio June 30, 2020 Rhinebeck Bank Total capital (to risk-weighted assets) $ 115,374 13.29 % $ 69,451 8.00 % $ 86,814 10.00 % Tier 1 capital (to risk-weighted assets) 106,802 12.30 % 52,088 6.00 % 69,451 8.00 % Common equity tier one capital (to risk weighted assets) 106,802 12.30 % 39,066 4.50 % 56,429 6.50 % Tier 1 capital (to average assets) 106,802 9.80 % 43,612 4.00 % 54,515 5.00 % December 31, 2019 Rhinebeck Bank Total capital (to risk-weighted assets) $ 109,799 12.83 % $ 68,481 8.00 % $ 85,602 10.00 % Tier 1 capital (to risk-weighted assets) 103,845 12.13 % 51,361 6.00 % 68,481 8.00 % Common equity tier one capital (to risk weighted assets) 103,845 12.13 % 38,521 4.50 % 55,641 6.50 % Tier 1 capital (to average assets) 103,845 10.84 % 38,325 4.00 % 47,907 5.00 %

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Jun. 30, 2020
Fair Value
Schedule of assets carried at fair value on a recurring basis	Quoted Prices in Active Markets Significant Significant for Identical Observable Unobservable Balance Assets (Level 1) Inputs (Level 2) Inputs (Level 3) June 30, 2020 U.S. government agency mortgage-backed securities-residential $ 95,688 $ — $ 95,688 $ — U.S. government agency securities 5,179 — 5,179 — Municipal securities 1,408 — 1,228 180 Corporate Bonds 2,268 — 2,268 — Other 595 — 595 — Total $ 105,138 $ — $ 104,958 $ 180 December 31, 2019 U.S. government agency mortgage-backed securities – residential $ 98,478 $ — $ 98,478 $ — U.S. government agency securities 12,076 — 12,076 — Municipal securities 1,396 — 1,216 180 Corporate Bonds 2,273 — 2,273 — Other 609 — 609 — Total $ 114,832 $ — $ 114,652 $ 180
Schedule of assets carried at fair value and measured at fair value on a nonrecurring basis	Quoted Prices in Active Markets Significant Significant for Identical Observable Unobservable Balance Assets (Level 1) Inputs (Level 2) Inputs (Level 3) June 30, 2020 Impaired loans, with specific reserves $ 559 $ — $ — $ 559 Other real estate owned 1,178 — — 1,178 Total $ 1,737 $ — $ — $ 1,737 December 31, 2019 Impaired loans $ 239 $ — $ — $ 239 Other real estate owned 1,417 — — 1,417 Total $ 1,656 $ — $ — $ 1,656
Schedule of additional quantitative information about assets measured at fair value on a nonrecurring basis	Quantitative Information About Level 3 Fair Value Measurements Fair Value Valuation Unobservable Range Estimate Techniques Input (Weighted Average) June 30, 2020 Impaired loans $ 559 Appraisal of collateral (1) Appraisal adjustments (2) 0% to 20% Other real estate owned 1,178 Appraisal of collateral (1) Liquidation expenses (3) 0% to 6% Appraisal adjustments (2) 0% to 20% December 31, 2019 Impaired loans $ 239 Appraisal of collateral (1) Appraisal adjustments (2) 0% to 20% Other real estate owned 1,417 Appraisal of collateral (1) Liquidation expenses (3) 0% to 6% Appraisal adjustments (2) 0% to 20% (1) Fair value is generally through independent appraisals of the underlying collateral that generally include various level 3 inputs which are not identifiable. (2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraised value. (3) Estimated costs to sell.
Schedule of carrying value and fair values of the financial instruments	June 30, December 31, 2020 2019 Carrying Value Fair Value Carrying Value Fair Value Financial Assets: Cash and due from banks (Level 1) $ 74,574 $ 74,574 $ 11,978 $ 11,978 Available for sale securities (Level 2) 105,138 105,138 114,832 114,832 FHLB stock (Level 2) 3,162 3,162 3,435 3,435 Loans, net (Level 3) 887,320 899,925 793,471 796,262 Accrued interest receivable (Level 2) 3,676 3,676 2,903 2,903 Mortgage servicing rights (Level 3) 2,265 3,486 2,226 4,137 Financial Liabilities: Deposits (Level 2) 910,039 929,438 773,343 762,272 Mortgagors escrow accounts (Level 2) 11,366 11,376 8,106 8,107 FHLB advances (Level 2) 59,016 60,185 66,304 66,724 FRB borrowings (Level 2) 12,080 12,084 — — Subordinated debt and other borrowings (Level 2) 5,155 5,155 5,155 5,155

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2020
Accumulated Other Comprehensive Loss.
Schedule of accumulated other comprehensive loss components	The activity in accumulated other comprehensive loss for the three and six months ended June 30, 2020 and 2019, is as follows: Accumulated Other Comprehensive Loss (1) Unrealized gains (losses) on Defined Benefit available for sale Pension Plan securities Total Balance at March 31, 2020 $ (3,631) $ 2,412 $ (1,219) Other comprehensive loss before reclassifications (1,088) (570) (1,658) Amounts reclassified from accumulated other comprehensive loss 56 — 56 Period change (1,032) (570) (1,602) Balance at June 30, 2020 $ (4,663) $ 1,842 $ (2,821) Balance at March 31, 2019 $ (4,381) $ (1,535) $ (5,916) Other comprehensive (loss) gain before reclassifications (32) 1,492 1,460 Amounts reclassified from accumulated other comprehensive loss 70 31 101 Period change 38 1,523 1,561 Balance at June 30, 2019 $ (4,343) $ (12) $ (4,355) Accumulated Other Comprehensive Loss (1) Unrealized gains (losses) on Defined Benefit available for sale Pension Plan securities Total Balance at December 31, 2019 $ (3,909) $ (195) $ (4,104) Other comprehensive (loss) gain before reclassifications (867) 2,014 1,147 Amounts reclassified from accumulated other comprehensive loss 113 23 136 Period change (754) 2,037 1,283 Balance at June 30, 2020 $ (4,663) $ 1,842 $ (2,821) Balance at December 31, 2018 $ (4,436) $ (2,576) $ (7,012) Other comprehensive (loss) gain before reclassifications (48) 2,533 2,485 Amounts reclassified from accumulated other comprehensive loss 141 31 172 Period change 93 2,564 2,657 Balance at June 30, 2019 $ (4,343) $ (12) $ (4,355)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share
Schedule of earnings per share, basic and diluted	Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 Net income applicable to common stock $ 1,348 $ 1,221 $ 2,423 $ 2,132 Average number of common shares outstanding 11,133,290 11,133,290 11,133,290 11,133,290 Less: Average unearned ESOP shares 406,423 428,243 409,150 430,970 Average number of common shares outstanding used to calculate basic and diluted earnings per common share 10,726,867 10,705,047 10,724,140 10,702,320 Earnings per Common share: Basic $ 0.13 $ 0.11 $ 0.23 $ 0.20 Diluted $ 0.13 $ 0.11 $ 0.23 $ 0.20

Nature of Business and Signif_3

Nature of Business and Significant Accounting Policies (Details) $ in Thousands	Jan. 01, 2020USD ($)	Jun. 30, 2020USD ($)item
Nature Of Business And Significant Accounting Policies [Line Items]
Number of branches | item		11
Number of representative offices | item		2
Lease, Practical Expedients, Package [true false]	true
Operating Lease, Right-of-Use Asset		$ 6,500
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]		Other Assets
Operating Lease, Liability		$ 6,500
Operating Lease, Liability, Statement of Financial Position [Extensible List]		Accrued Liabilities and Other Liabilities
Accounting Standards Update 2016-02
Nature Of Business And Significant Accounting Policies [Line Items]
Operating Lease, Right-of-Use Asset	$ 6,700
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other Assets
Operating Lease, Liability	$ 6,700
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Accrued Liabilities and Other Liabilities

Investment Securities (Schedule

Investment Securities (Schedule of amortized cost, gross unrealized gains and losses and fair values of available for sale securities) (Details) - USD ($) $ in Thousands		Jun. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		$ 102,807	$ 115,080
Gross Unrealized Gains		2,470	613
Gross Unrealized Losses		(139)	(861)
Fair Value		105,138	114,832
U.S. government agency mortgage-backed securities-residential
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		93,577	98,842
Gross Unrealized Gains		2,235	464
Gross Unrealized Losses		(124)	(828)
Fair Value		95,688	98,478
U.S. government agency securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		5,018	12,049
Gross Unrealized Gains		161	53
Gross Unrealized Losses		0	(26)
Fair Value		5,179	12,076
Municipal securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	[1]	1,383	1,384
Gross Unrealized Gains	[1]	25	17
Gross Unrealized Losses	[1]	0	(5)
Fair Value	[1]	1,408	1,396
Corporate Bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		2,250	2,250
Gross Unrealized Gains		33	25
Gross Unrealized Losses		(15)	(2)
Fair Value		2,268	2,273
Other
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		579	555
Gross Unrealized Gains		16	54
Gross Unrealized Losses		0
Fair Value		$ 595	$ 609
[1]	The issuers of municipal securities are all within New York State.

Investment Securities (Schedu_2

Investment Securities (Schedule of gross unrealized losses and fair value, securities in continuous unrealized loss position) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months Fair Value	$ 10,065	$ 36,851
Less Than 12 Months Unrealized Losses	(124)	(309)
12 Months or Longer Fair Value	774	34,253
12 Months or Longer Unrealized Losses	(15)	(552)
Fair Value	10,839	71,104
Unrealized Losses	(139)	(861)
U.S. government agency mortgage-backed securities-residential
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months Fair Value	9,080	35,612
Less Than 12 Months Unrealized Losses	(109)	(302)
12 Months or Longer Fair Value	774	27,252
12 Months or Longer Unrealized Losses	(15)	(526)
Fair Value	9,854	62,864
Unrealized Losses	(124)	(828)
U.S. government agency securities
Debt Securities, Available-for-sale [Line Items]
12 Months or Longer Fair Value		7,001
12 Months or Longer Unrealized Losses		(26)
Fair Value		7,001
Unrealized Losses		(26)
Municipal securities
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months Fair Value		490
Less Than 12 Months Unrealized Losses		(5)
Fair Value		490
Unrealized Losses		(5)
Corporate Bonds
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months Fair Value	985	749
Less Than 12 Months Unrealized Losses	(15)	(2)
Fair Value	985	749
Unrealized Losses	$ (15)	$ (2)

Investment Securities (Schedu_3

Investment Securities (Schedule of maturities of debt securities) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Amortized Cost
Within 1 year	$ 175	$ 175
After 1 but within 5 years		7,027
After 5 but within 10 years	7,801	7,806
After 10 years	675	675
Total Maturities	8,651	15,683
Mortgage-backed securities	93,577	98,842
Other	579	555
Amortized Cost	102,807	115,080
Fair Value
Within 1 year	175	175
After 1 but within 5 years		7,001
After 5 but within 10 years	8,005	7,899
After 10 years	675	670
Total Maturities	8,855	15,745
Mortgage-backed securities	95,688	98,478
Other	595	609
Fair Value	$ 105,138	$ 114,832

Investment Securities (Narrativ

Investment Securities (Narrative) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)security	Dec. 31, 2019USD ($)
Investment Securities
Number of individual available-for-sale securities with unrealized losses | security	19
Unrealized Losses	$ 139	$ 861
Aggregate percentage of depreciation	1.23%
Available for sale securities pledged to secure Federal Home Loan Bank of New York ("FHLBNY") borrowings	$ 20,732	23,782
Available for sale securities pledged to secure Federal Reserve Bank of New York ("FRBNY") borrowings	733	$ 726
Proceeds from the sale of available for sale securities and calls	6,997
Losses on sales of investment securities	$ 29

Loans and Allowance for Loan _3

Loans and Allowance for Loan Losses (Schedule of summary loan portfolio) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	$ 888,752		$ 789,517	$ 735,865
Net deferred loan costs	7,140		9,908
Allowance for loan losses	(8,572)	$ (6,620)	(5,954)	(7,858)	$ (7,183)	$ (6,646)
Total net loans	887,320		793,471
Indirect automobile
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	365,455		360,569	338,367
Allowance for loan losses	(4,779)	(3,638)	(3,117)	(3,606)	(3,380)	(2,915)
Commercial real estate
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	282,683		268,640	239,163
Allowance for loan losses	(2,673)	(2,153)	(2,009)	(1,252)	(1,159)	(1,080)
Commercial real estate | Undisbursed construction loans
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	10,339		20,354
Commercial real estate | Non-residential
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	242,199		228,157
Commercial real estate | Multifamily
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	30,145		20,129
Residential Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	41,682		43,726	39,959
Allowance for loan losses	(125)	(99)	(99)	(305)	(286)	(320)
Commercial and industrial
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	175,120		90,554	89,473
Allowance for loan losses	(859)	(601)	(603)	(1,895)	(1,575)	(1,542)
Commercial and industrial | Small Business Administration Paycheck Protection Program
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	89,092
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	23,812		26,028	28,903
Allowance for loan losses	(136)	$ (129)	(126)	$ (800)	$ (783)	$ (789)
Consumer | Indirect automobile
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	365,455		360,569
Consumer | Home equity
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	14,804		16,276
Consumer | Other consumer
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	$ 9,008		$ 9,752

Loans and Allowance for Loan _4

Loans and Allowance for Loan Losses (Schedule of loans by risk rating and portfolio segment) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	$ 888,752	$ 789,517	$ 735,865
Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	873,994	775,060
Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	5,156	4,882
Substandard
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	9,602	9,575
Indirect automobile
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	365,455	360,569	338,367
Commercial real estate
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	282,683	268,640	239,163
Commercial real estate | Undisbursed construction loans
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	10,339	20,354
Commercial real estate | Undisbursed construction loans | Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	10,339	20,354
Commercial real estate | Non-residential
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	242,199	228,157
Commercial real estate | Non-residential | Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	233,325	219,485
Commercial real estate | Non-residential | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	4,610	4,285
Commercial real estate | Non-residential | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	4,264	4,387
Commercial real estate | Multifamily
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	30,145	20,129
Commercial real estate | Multifamily | Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	29,776	19,744
Commercial real estate | Multifamily | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	369	385
Residential Real Estate
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	41,682	43,726	39,959
Residential Real Estate | Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	39,127	41,385
Residential Real Estate | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	2,555	2,341
Commercial and industrial
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	175,120	90,554	89,473
Commercial and industrial | Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	173,747	88,874
Commercial and industrial | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	546	597
Commercial and industrial | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	827	1,083
Consumer
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	23,812	26,028	$ 28,903
Consumer | Indirect automobile
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	365,455	360,569
Consumer | Indirect automobile | Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	364,419	359,616
Consumer | Indirect automobile | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	1,036	953
Consumer | Home equity
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	14,804	16,276
Consumer | Home equity | Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	14,274	15,861
Consumer | Home equity | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	530	415
Consumer | Other consumer
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	9,008	9,752
Consumer | Other consumer | Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	8,987	9,741
Consumer | Other consumer | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	$ 21	$ 11

Loans and Allowance for Loan _5

Loans and Allowance for Loan Losses (Schedule of classes of the loan portfolio by the aging categories of performing loans and nonaccrual loans) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	$ 867,491	$ 771,913
Total gross loans	888,752	789,517	$ 735,865
Nonaccrual	10,162	8,921
30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	6,042	7,961
60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	5,057	2,631
Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	10,162	7,012
Indirect automobile
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total gross loans	365,455	360,569	338,367
Commercial real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total gross loans	282,683	268,640	239,163
Commercial real estate | Undisbursed construction loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	10,339	20,354
Total gross loans	10,339	20,354
Commercial real estate | Non-residential
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	235,203	222,953
Total gross loans	242,199	228,157
Nonaccrual	5,116	3,911
Commercial real estate | Non-residential | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	218	409
Commercial real estate | Non-residential | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	1,662	884
Commercial real estate | Non-residential | Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	5,116	3,911
Commercial real estate | Multifamily
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	29,776	19,744
Total gross loans	30,145	20,129
Nonaccrual	369	385
Commercial real estate | Multifamily | Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	369	385
Residential Real Estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	37,398	42,403
Total gross loans	41,682	43,726	39,959
Nonaccrual	2,555	2,341
Residential Real Estate | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	297	427
Residential Real Estate | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	1,432	116
Residential Real Estate | Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	2,555	780
Commercial and industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	174,318	89,401
Total gross loans	175,120	90,554	89,473
Nonaccrual	547	905
Commercial and industrial | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	55	288
Commercial and industrial | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	200	198
Commercial and industrial | Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	547	667
Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total gross loans	23,812	26,028	$ 28,903
Consumer | Indirect automobile
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	357,827	351,840
Total gross loans	365,455	360,569
Nonaccrual	1,036	953
Consumer | Indirect automobile | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	5,175	6,494
Consumer | Indirect automobile | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	1,417	1,294
Consumer | Indirect automobile | Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	1,036	941
Consumer | Home equity
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	13,826	15,726
Total gross loans	14,804	16,276
Nonaccrual	530	415
Consumer | Home equity | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	138	142
Consumer | Home equity | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	310	91
Consumer | Home equity | Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	530	317
Consumer | Other consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	8,804	9,492
Total gross loans	9,008	9,752
Nonaccrual	9	11
Consumer | Other consumer | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	159	201
Consumer | Other consumer | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	36	48
Consumer | Other consumer | Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	$ 9	$ 11

Loans and Allowance for Loan _6

Loans and Allowance for Loan Losses (Schedule of information to impaired loans by loan portfolio class) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
With no related allowance recorded:
Recorded Investment	$ 9,350	$ 8,575
Unpaid Principal Balance	11,912	11,319
Average Recorded Investment	8,631	7,073
With an allowance recorded:
Recorded Investment	812	346
Unpaid Principal Balance	834	376
Related Allowance	253	107
Average Recorded Investment	475	262
Total:
Recorded Investment	10,162	8,921
Unpaid Principal Balance	12,746	11,695
Related Allowance	253	107
Average Recorded Investment	9,106	7,335
Commercial real estate | Non-residential
With no related allowance recorded:
Recorded Investment	5,116	3,911
Unpaid Principal Balance	6,998	5,733
Average Recorded Investment	4,341	3,209
Total:
Recorded Investment	5,116	3,911
Unpaid Principal Balance	6,998	5,733
Average Recorded Investment	4,341	3,209
Commercial real estate | Multifamily
With no related allowance recorded:
Recorded Investment	369	385
Unpaid Principal Balance	400	409
Average Recorded Investment	374	192
Total:
Recorded Investment	369	385
Unpaid Principal Balance	400	409
Average Recorded Investment	374	192
Residential Real Estate
With no related allowance recorded:
Recorded Investment	2,555	2,341
Unpaid Principal Balance	2,951	2,850
Average Recorded Investment	2,410	2,313
Total:
Recorded Investment	2,555	2,341
Unpaid Principal Balance	2,951	2,850
Average Recorded Investment	2,410	2,313
Commercial and industrial
With no related allowance recorded:
Recorded Investment	497	905
Unpaid Principal Balance	679	1,109
Average Recorded Investment	631	601
With an allowance recorded:
Recorded Investment	50
Unpaid Principal Balance	50
Related Allowance	25
Average Recorded Investment	17
Total:
Recorded Investment	547	905
Unpaid Principal Balance	729	1,109
Related Allowance	25
Average Recorded Investment	648	601
Consumer | Indirect automobile
With no related allowance recorded:
Recorded Investment	276	607
Unpaid Principal Balance	316	740
Average Recorded Investment	409	441
With an allowance recorded:
Recorded Investment	760	346
Unpaid Principal Balance	782	376
Related Allowance	226	107
Average Recorded Investment	457	262
Total:
Recorded Investment	1,036	953
Unpaid Principal Balance	1,098	1,116
Related Allowance	226	107
Average Recorded Investment	866	703
Consumer | Home equity
With no related allowance recorded:
Recorded Investment	530	415
Unpaid Principal Balance	562	467
Average Recorded Investment	456	307
Total:
Recorded Investment	530	415
Unpaid Principal Balance	562	467
Average Recorded Investment	456	307
Consumer | Other consumer
With no related allowance recorded:
Recorded Investment	7	11
Unpaid Principal Balance	6	11
Average Recorded Investment	10	10
With an allowance recorded:
Recorded Investment	2
Unpaid Principal Balance	2
Related Allowance	2
Average Recorded Investment	1
Total:
Recorded Investment	9	11
Unpaid Principal Balance	8	11
Related Allowance	2
Average Recorded Investment	$ 11	$ 10

Loans and Allowance for Loan _7

Loans and Allowance for Loan Losses (Schedule of loan balances by segment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Allowance for loan losses:
Beginning balance	$ 6,620	$ 7,183	$ 5,954	$ 6,646
Provision for loan losses	2,255	780	3,455	1,560
Loans charged-off	(481)	(440)	(1,246)	(946)
Recoveries	178	335	409	598
Ending balance	8,572	7,858	8,572	7,858
Allowance for loan losses:
Ending balance: Individually evaluated for impairment	253	121	253	121	$ 107
Ending balance: Collectively evaluated for impairment	8,319	7,737	8,319	7,737	5,847
Loan receivables:
Ending balance	888,752	735,865	888,752	735,865	789,517
Ending balance: Individually evaluated for impairment	10,162	6,150	10,162	6,150	8,921
Ending balance: Collectively evaluated for impairment	878,590	729,715	878,590	729,715	780,596
Indirect automobile
Allowance for loan losses:
Beginning balance	3,638	3,380	3,117	2,915
Provision for loan losses	1,450	329	2,461	1,032
Loans charged-off	(478)	(424)	(1,189)	(919)
Recoveries	169	321	390	578
Ending balance	4,779	3,606	4,779	3,606
Allowance for loan losses:
Ending balance: Individually evaluated for impairment	226	69	226	69	107
Ending balance: Collectively evaluated for impairment	4,553	3,537	4,553	3,537	3,010
Loan receivables:
Ending balance	365,455	338,367	365,455	338,367	360,569
Ending balance: Individually evaluated for impairment	1,036	590	1,036	590	953
Ending balance: Collectively evaluated for impairment	364,419	337,777	364,419	337,777	359,616
Commercial real estate
Allowance for loan losses:
Beginning balance	2,153	1,159	2,009	1,080
Provision for loan losses	520	93	664	172
Ending balance	2,673	1,252	2,673	1,252
Allowance for loan losses:
Ending balance: Collectively evaluated for impairment	2,673	1,252	2,673	1,252	2,009
Loan receivables:
Ending balance	282,683	239,163	282,683	239,163	268,640
Ending balance: Individually evaluated for impairment	5,485	2,054	5,485	2,054	4,296
Ending balance: Collectively evaluated for impairment	277,198	237,109	277,198	237,109	264,344
Residential Real Estate
Allowance for loan losses:
Beginning balance	99	286	99	320
Provision for loan losses	26	17	26	(18)
Recoveries		2		3
Ending balance	125	305	125	305
Allowance for loan losses:
Ending balance: Collectively evaluated for impairment	125	305	125	305	99
Loan receivables:
Ending balance	41,682	39,959	41,682	39,959	43,726
Ending balance: Individually evaluated for impairment	2,555	2,696	2,555	2,696	2,341
Ending balance: Collectively evaluated for impairment	39,127	37,263	39,127	37,263	41,385
Commercial and industrial
Allowance for loan losses:
Beginning balance	601	1,575	603	1,542
Provision for loan losses	254	327	285	364
Loans charged-off	(1)	(7)	(39)	(12)
Recoveries	5		10	1
Ending balance	859	1,895	859	1,895
Allowance for loan losses:
Ending balance: Individually evaluated for impairment	25	41	25	41
Ending balance: Collectively evaluated for impairment	834	1,854	834	1,854	603
Loan receivables:
Ending balance	175,120	89,473	175,120	89,473	90,554
Ending balance: Individually evaluated for impairment	547	307	547	307	905
Ending balance: Collectively evaluated for impairment	174,573	89,166	174,573	89,166	89,649
Consumer
Allowance for loan losses:
Beginning balance	129	783	126	789
Provision for loan losses	5	14	19	10
Loans charged-off	(2)	(9)	(18)	(15)
Recoveries	4	12	9	16
Ending balance	136	800	136	800
Allowance for loan losses:
Ending balance: Individually evaluated for impairment	2	11	2	11
Ending balance: Collectively evaluated for impairment	134	789	134	789	126
Loan receivables:
Ending balance	23,812	28,903	23,812	28,903	26,028
Ending balance: Individually evaluated for impairment	539	503	539	503	426
Ending balance: Collectively evaluated for impairment	23,273	$ 28,400	23,273	$ 28,400	25,602
Consumer | Indirect automobile
Loan receivables:
Ending balance	$ 365,455		$ 365,455		$ 360,569

Loans and Allowance for Loan _8

Loans and Allowance for Loan Losses (Narrative) (Details) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020USD ($)loan	Dec. 31, 2019USD ($)loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amount of loan	$ 1,628	$ 1,659
Number of loans default | loan	3	3
Number of new loans default | loan	0	0
Balance of capitalized servicing rights	$ 2,265	$ 2,226
Aggregate balances of loans serviced to third party	282,106	270,730
Loans and Leases Receivable, Impaired, Commitment to Lend	0	0
Mortgage Servicing Rights (MSR) Impairment (Recovery)	0	0
Residential Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid principal balances of loans held for sale	$ 2,409	$ 2,684

Premises and Equipment (Schedul

Premises and Equipment (Schedule of premises and equipment) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Total	$ 42,365	$ 41,418
Less accumulated depreciation	(23,743)	(23,080)
Net	18,622	18,338
Land
Property, Plant and Equipment [Line Items]
Total	3,690	3,690
Buildings and improvements
Property, Plant and Equipment [Line Items]
Total	25,362	25,371
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Total	12,523	12,090
Construction in progress
Property, Plant and Equipment [Line Items]
Total	$ 790	$ 267

Goodwill (Narrative) (Details)

Goodwill (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Goodwill, Impaired [Abstract]
Goodwill	$ 1,410		$ 1,410
Accumulated impairment	1,116		$ 1,116
Impairment loss on goodwill	$ 0	$ 0

Intangible Assets (Schedule of

Intangible Assets (Schedule of changes in the carrying value of customer list intangible) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Finite-lived Intangible Assets [Roll Forward]
Amortization	$ (10)	$ (11)	$ (21)	$ (22)	$ (43)
Ending balance	220		220
RAM
Finite-lived Intangible Assets [Roll Forward]
Beginning balance			241	$ 284	284
Amortization			(21)		(43)
Ending balance	220		220		241
Accumulated amortization and impairment	$ 727		$ 727		$ 706

Intangible Assets (Schedule o_2

Intangible Assets (Schedule of future amortization expense for amortizable intangible assets) (Details) $ in Thousands	Jun. 30, 2020USD ($)
Intangible Assets
2020	$ 21
2021	42
2022	42
2023	42
2024	42
Thereafter	31
Total	$ 220

Intangible Assets (Narrative) (

Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 10	$ 11	$ 21	$ 22	$ 43
Goodwill and Intangible Asset Impairment			$ 0
Customer lists
Acquired Finite-Lived Intangible Assets [Line Items]
Useful life of purchased customer accounts			13 years 4 months

Deposits (Schedule of deposits)

Deposits (Schedule of deposits) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Deposits [Abstract]
Noninterest bearing demand deposits	$ 247,800	$ 179,236
Interest bearing accounts:
NOW	117,925	95,572
Savings	146,913	121,139
Money market	164,437	158,747
Time certificates of deposit	232,964	218,649
Total interest bearing accounts	662,239	594,107
Total deposits	$ 910,039	$ 773,343

Deposits (Schedule of contractu

Deposits (Schedule of contractual maturities of time certificates of deposit) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Deposits [Abstract]
Within 1 year	$ 174,646
1 - 2 years	37,769
2 - 3 years	7,093
3 - 4 years	7,296
4 - 5 years	6,160
Total	$ 232,964	$ 218,649

Deposits (Narrative) (Details)

Deposits (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Deposits [Line Items]
Reciprocal deposits	$ 29,443	$ 21,270
Time certificates of deposit in denominations of $250 or greater	$ 46,922	$ 44,605
Maximum
Deposits [Line Items]
Maturity terms	3 years
Minimum
Deposits [Line Items]
Maturity terms	1 year

Long-Term Debt and FHLB Stock_2

Long-Term Debt and FHLB Stock (Schedule of outstanding principal amounts and related terms of FHLBNY borrowings) (Details) - Federal Home Loan Bank of New York ("FHLBNY") $ in Thousands	Jun. 30, 2020USD ($)
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Principal amount	$ 59,016
Rate	1.95%
Due in one year	$ 36,778
Long term	22,238
1 year bullet on February 1, 2021
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Principal amount	$ 10,000
Rate	0.80%
Due in one year	$ 10,000
Long term	0
2 year amortizing on May 17, 2021
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Principal amount	$ 5,063
Rate	2.53%
Due in one year	$ 5,063
Long term	0
2 year bullet on May 17, 2021
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Principal amount	$ 10,000
Rate	2.46%
Due in one year	$ 10,000
Long term	0
3 year amortizing on May 17, 2021
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Principal amount	$ 3,431
Rate	2.92%
Due in one year	$ 3,431
Long term	0
3 year amortizing on May 16, 2022
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Principal amount	$ 6,749
Rate	2.49%
Due in one year	$ 3,333
Long term	3,416
3 year bullet on May 16, 2022
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Principal amount	$ 10,000
Rate	2.44%
Due in one year	$ 0
Long term	10,000
3 year amortizing February 28, 2023
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Principal amount	$ 13,773
Rate	1.32%
Due in one year	$ 4,951
Long term	$ 8,822

Long-Term Debt and FHLB Stock_3

Long-Term Debt and FHLB Stock (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Long-Term Debt And Federal Home Loan Bank [Line Items]
Advances from Federal Home Loan Banks	$ 59,016	$ 59,016		$ 66,304
Funding received		11,923	$ (4,369)
Federal Reserve Bank borrowings	12,080	12,080
Atlantic Community Bankers Bank
Long-Term Debt And Federal Home Loan Bank [Line Items]
Line of credit facility, maximum amount outstanding during period					$ 5,000
Zions Bank
Long-Term Debt And Federal Home Loan Bank [Line Items]
Line of credit, maximum borrowing capacity	$ 10,000	10,000		10,000
Line of credit facility, maximum amount outstanding during period		$ 0		$ 0
Paycheck Protection Program
Long-Term Debt And Federal Home Loan Bank [Line Items]
Interest rate	0.35%	0.35%
Percentage of Principal Funding		100.00%
Funding received	$ 70,100
Federal Reserve Bank borrowings	$ 12,100	$ 12,100
Subordinated Debt.
Long-Term Debt And Federal Home Loan Bank [Line Items]
Interest rate, variable rate basis		3-month LIBOR
Interest LIBOR rate		2.00%
Interest rate	2.30%	2.30%		3.91%
Subordinated debt securities	$ 5,155	$ 5,155
Stated maturity date		May 23, 2035
Subordinated Debt. | RSB Capital Trust I
Long-Term Debt And Federal Home Loan Bank [Line Items]
Interest rate, variable rate basis		3-month LIBOR
Interest LIBOR rate		2.00%
Trust term	30 years	30 years
Federal Home Loan Bank of New York ("FHLBNY")
Long-Term Debt And Federal Home Loan Bank [Line Items]
Line of credit, maximum borrowing capacity	$ 564,068	$ 564,068		$ 486,906
Advances from Federal Home Loan Banks	59,016	59,016
Amount of pledged assets	180,161	180,161		168,230
Impairment Related To Federal Home Loan Stock	$ 0	$ 0		$ 0

Employee Benefits (Schedule of

Employee Benefits (Schedule of plan's funded status and amounts recognized in consolidated statement of financial condition) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Employee Benefits
Projected and accumulated benefit obligation	$ (22,599)	$ (20,953)
Plan assets at fair value	21,371	20,628
Funded status included in accrued expenses and other liabilities	$ (1,228)	$ (325)

Employee Benefits (Schedule o_2

Employee Benefits (Schedule of net periodic pension (benefit) cost and amounts recognized in other comprehensive income (loss)) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Employee Benefits
Interest cost	$ 335	$ 370
Expected return on plan assets	(529)	(470)
Amortization of unrecognized loss	143	219
Net periodic (benefit) cost	$ (51)	$ 119

Employee Benefits (Schedule o_3

Employee Benefits (Schedule of fair value of pension plan assets, by fair value hierarchy) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	$ 21,371	$ 20,628
Defined Benefit Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	21,371	20,628
Defined Benefit Pension Plan | Investment in separate accounts fixed income
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	16,021	15,372
Defined Benefit Pension Plan | Investment in separate accounts equity
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	5,350	5,256
Quoted Prices in Active Markets for Identical Assets (Level 1) | Defined Benefit Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	21,371	20,628
Quoted Prices in Active Markets for Identical Assets (Level 1) | Defined Benefit Pension Plan | Investment in separate accounts fixed income
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	16,021	15,372
Quoted Prices in Active Markets for Identical Assets (Level 1) | Defined Benefit Pension Plan | Investment in separate accounts equity
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	$ 5,350	$ 5,256

Employee Benefits (Various Bene

Employee Benefits (Various Benefits - Narrative) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)fund	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Schedule Of Employee Benefits [Line Items]
Percentage of internal revenue contribution			25.00%
Percentage of internal revenue service limitations			6.00%
Number of investment funds | fund			11
Number of equity funds | fund			7
Number of fixed income funds | fund			4
Number of bond funds | fund			3
Number of real estate funds | fund			1
Accrued expenses and other liabilities	$ 16,994		$ 16,994		$ 11,156
Noninterest expense	6,765	$ 7,048	14,064	$ 13,966
Employer contribution in defined contribution plan			490	442
Postretirement Life Insurance [Member]
Schedule Of Employee Benefits [Line Items]
Liability related to these postretirement benefits	1,359		1,359		1,330
Postemployment benefit expense			29	26
Postemployment Retirement Benefits [Member]
Schedule Of Employee Benefits [Line Items]
Noninterest expense			43	48
Liability related to these postretirement benefits	2,134		2,134		2,123
Officer [Member] | Deferred Compensation, Share-based Payments [Member]
Schedule Of Employee Benefits [Line Items]
Accrued expenses and other liabilities	1,198		1,198		1,163
Noninterest expense			284	271
Deferred Compensation Arrangement with Individual, by Type of Compensation, Pension and Other Postretirement Benefits [Member] | Director [Member]
Schedule Of Employee Benefits [Line Items]
Accrued expenses and other liabilities	$ 2,079		2,079		$ 2,086
Noninterest expense			$ 85	$ 62
Maximum | Postemployment Retirement Benefits [Member]
Schedule Of Employee Benefits [Line Items]
Post retirement benefit period			20 years
Maximum | Officer [Member] | Deferred Compensation, Share-based Payments [Member]
Schedule Of Employee Benefits [Line Items]
Terms of services			5 years
Minimum | Postemployment Retirement Benefits [Member]
Schedule Of Employee Benefits [Line Items]
Post retirement benefit period			15 years
Minimum | Officer [Member] | Deferred Compensation, Share-based Payments [Member]
Schedule Of Employee Benefits [Line Items]
Terms of services			1 year

Employee Benefits (Employee Sto

Employee Benefits (Employee Stock Ownership Plan (ESOP) Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 01, 2020	Jan. 16, 2019	Jun. 30, 2020	Jun. 30, 2019
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Number of share purchase under ESOP			436,425
Committed to be allocated			10,908
Compensation expense			$ 92
Employee Stock Ownership Plan (Esop)
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Number of share purchase under ESOP		436,425
Common stock price per share		$ 10
Terms of repurchase share under ESOP		20 years
Interest rate	4.75%
Balance of ESOP loan			$ 4,229
Committed to be allocated			21,821
Fair value of unallocated shares			$ 2,648
Compensation expense			$ 92	$ 183

Employee Benefits (Schedule o_4

Employee Benefits (Schedule of employee stock ownership plan) (Details)	Jun. 30, 2020shares
Employee Benefits
Allocated	21,821
Committed to be allocated	10,908
Unallocated	403,696
Total shares	436,425

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)item	Dec. 31, 2019USD ($)
Leases
Number of leased branch offices | item	7
Weighted average remaining life of the lease terms	13 years 1 month 6 days
Weighted average discount rate	2.61%
Operating lease costs	$ 291
Deferred rent liability	195	$ 213
Operating lease right-of-use asset	$ 6,500
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other Assets
Operating lease liability	$ 6,500
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Accrued Liabilities and Other Liabilities

Leases - Future minimum payment

Leases - Future minimum payments for operating leases (Details) $ in Thousands	Jun. 30, 2020USD ($)
Lessee, Lease, Description [Line Items]
Present Value of Net Future Minimum Lease Payments	$ 6,500
Building [Member]
Lessee, Lease, Description [Line Items]
2020	318
2021	637
2022	593
2023	570
2024	566
Thereafter	5,086
Total future minimum lease payments	7,770
Amounts representing interest	(1,247)
Present Value of Net Future Minimum Lease Payments	$ 6,523

Commitments and Contingencies_2

Commitments and Contingencies (Schedule of contract amounts represent off-balance sheet credit risk) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Asset	$ 95,875	$ 94,884
Future loan commitments
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Asset	11,744	9,881
Undisbursed construction loans
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Asset	6,620	10,202
Undisbursed home equity lines of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Asset	10,494	10,277
Undisbursed commercial and other line of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Asset	61,470	59,234
Standby letters of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Asset	$ 5,547	$ 5,290

Regulatory Matters (Schedule of

Regulatory Matters (Schedule of actual capital amounts and ratios) (Details) - Rhinebeck Bank - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total capital (to risk-weighted assets) Actual Amount	$ 115,374	$ 109,799
Total capital (to risk-weighted assets) Actual Ratio	13.29%	12.83%
Total capital (to risk-weighted assets) For Capital Adequacy Purposes Amount	$ 69,451	$ 68,481
Total capital (to risk-weighted assets) For Capital Adequacy Purposes Ratio	8.00%	8.00%
Total capital (to risk-weighted assets) To be Well Capitalized under Prompt Corrective Action Provisions Amount	$ 86,814	$ 85,602
Total capital (to risk-weighted assets) To be Well Capitalized under Prompt Corrective Action Provisions Ratio	10.00%	10.00%
Tier 1 capital (to risk-weighted assets) Actual Amount	$ 106,802	$ 103,845
Tier 1 capital (to risk-weighted assets) Actual Ratio	12.30%	12.13%
Tier 1 capital (to risk-weighted assets) For Capital Adequacy Purposes Amount	$ 52,088	$ 51,361
Tier 1 capital (to risk-weighted assets) For Capital Adequacy Purposes Ratio	6.00%	6.00%
Tier 1 capital (to risk-weighted assets) To be Well Capitalized under Prompt Corrective Action Provisions Amount	$ 69,451	$ 68,481
Tier 1 capital (to risk-weighted assets) To be Well Capitalized under Prompt Corrective Action Provisions Ratio	8.00%	8.00%
Common equity tier one capital (to risk weighted assets) Actual Amount	$ 106,802	$ 103,845
Common equity tier one capital (to risk weighted assets) Actual Ratio	12.30%	12.13%
Common equity tier one capital (to risk weighted assets) For Capital Adequacy Purposes Amount	$ 39,066	$ 38,521
Common equity tier one capital (to risk weighted assets) For Capital Adequacy Purposes Ratio	4.50%	4.50%
Common equity tier one capital (to risk weighted assets) To be Well Capitalized under Prompt Corrective Action Provisions Amount	$ 56,429	$ 55,641
Common equity tier one capital (to risk weighted assets) To be Well Capitalized under Prompt Corrective Action Provisions Ratio	6.50%	6.50%
Tier 1 capital (to average assets) Actual Amount	$ 106,802	$ 103,845
Tier 1 capital (to average assets) Actual Ratio	9.80%	10.84%
Tier 1 capital (to average assets) For Capital Adequacy Purposes Amount	$ 43,612	$ 38,325
Tier 1 capital (to average assets) For Capital Adequacy Purposes Ratio	4.00%	4.00%
Tier 1 capital (to average assets) To be Well Capitalized under Prompt Corrective Action Provisions Amount	$ 54,515	$ 47,907
Tier 1 capital (to average assets) To be Well Capitalized under Prompt Corrective Action Provisions Ratio	5.00%	5.00%

Fair Value (Schedule of assets

Fair Value (Schedule of assets carried at fair value on a recurring basis) (Details) - Recurring basis - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 105,138	$ 114,832
U.S. government agency mortgage-backed securities-residential
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	95,688	98,478
U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	5,179	12,076
Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	1,408	1,396
Corporate Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	2,268	2,273
Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	595	609
Significant Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	104,958	114,652
Significant Observable Inputs (Level 2) | U.S. government agency mortgage-backed securities-residential
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	95,688	98,478
Significant Observable Inputs (Level 2) | U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	5,179	12,076
Significant Observable Inputs (Level 2) | Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	1,228	1,216
Significant Observable Inputs (Level 2) | Corporate Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	2,268	2,273
Significant Observable Inputs (Level 2) | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	595	609
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	180	180
Significant Unobservable Inputs (Level 3) | Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 180	$ 180

Fair Value (Schedule of asset_2

Fair Value (Schedule of assets carried at fair value and measured at fair value on a nonrecurring basis) (Details) - Nonrecurring basis - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held at fair value	$ 1,737	$ 1,656
Impaired loans, with specific reserves
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held at fair value	559
Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held at fair value		239
Other real estate owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held at fair value	1,178	1,417
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held at fair value	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Impaired loans, with specific reserves
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held at fair value	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held at fair value		0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Other real estate owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held at fair value	0	0
Significant Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held at fair value	0	0
Significant Observable Inputs (Level 2) | Impaired loans, with specific reserves
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held at fair value	0
Significant Observable Inputs (Level 2) | Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held at fair value		0
Significant Observable Inputs (Level 2) | Other real estate owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held at fair value	0	0
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held at fair value	1,737	1,656
Significant Unobservable Inputs (Level 3) | Impaired loans, with specific reserves
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held at fair value	559
Significant Unobservable Inputs (Level 3) | Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held at fair value	559	239
Significant Unobservable Inputs (Level 3) | Other real estate owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held at fair value	$ 1,178	$ 1,417

Fair Value (Schedule of additio

Fair Value (Schedule of additional quantitative information about assets measured at fair value on a nonrecurring basis) (Details) - Nonrecurring basis $ in Thousands		6 Months Ended	12 Months Ended
		Jun. 30, 2020USD ($)	Dec. 31, 2019USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets held at fair value		$ 1,737	$ 1,656
Impaired loans
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets held at fair value			239
Other real estate owned
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets held at fair value		1,178	1,417
Significant Unobservable Inputs (Level 3)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets held at fair value		$ 1,737	$ 1,656
Impaired Loans, Valuation Technique [Extensible List]		rbkb:AppraisalOfCollateralMember	rbkb:AppraisalOfCollateralMember
Other Real Estate Owned, Valuation Technique [Extensible List]		Appraisal of collateral	Appraisal of collateral
Significant Unobservable Inputs (Level 3) | Impaired loans
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets held at fair value		$ 559	$ 239
Significant Unobservable Inputs (Level 3) | Other real estate owned
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets held at fair value		$ 1,178	$ 1,417
Significant Unobservable Inputs (Level 3) | Appraisal adjustments | Minimum | Other real estate owned
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other real estate owned, unobservable input (in percent)	[1],[2]	0	0
Significant Unobservable Inputs (Level 3) | Appraisal adjustments | Maximum | Other real estate owned
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other real estate owned, unobservable input (in percent)	[1],[2]	20	20
Significant Unobservable Inputs (Level 3) | Appraisal of collateral | Appraisal adjustments | Minimum | Impaired loans
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impaired loans, unobservable input (in percent)	[1],[2]	0	0
Significant Unobservable Inputs (Level 3) | Appraisal of collateral | Appraisal adjustments | Maximum | Impaired loans
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impaired loans, unobservable input (in percent)	[1],[2]	20	20
Significant Unobservable Inputs (Level 3) | Appraisal of collateral | Liquidation expenses | Minimum | Other real estate owned
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other real estate owned, unobservable input (in percent)	[1],[3]	0	0
Significant Unobservable Inputs (Level 3) | Appraisal of collateral | Liquidation expenses | Maximum | Other real estate owned
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other real estate owned, unobservable input (in percent)	[1],[3]	6	6
[1]	(1)Fair value is generally through independent appraisals of the underlying collateral that generally include various level 3 inputs which are not identifiable.
[2]	(2)Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraised value.
[3]	(3)Estimated costs to sell.

Fair Value (Schedule of carryin

Fair Value (Schedule of carrying value and fair values of the financial instruments) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Quoted Prices in Active Markets for Identical Assets (Level 1) | Carrying Value
Financial Assets:
Cash and due from banks (Level 1)	$ 74,574	$ 11,978
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value.
Financial Assets:
Cash and due from banks (Level 1)	74,574	11,978
Significant Observable Inputs (Level 2) | Carrying Value
Financial Assets:
Available for sale securities (Level 2)	105,138	114,832
FHLB stock (Level 2)	3,162	3,435
Accrued interest receivable (Level 2)	3,676	2,903
Financial Liabilities:
Deposits (Level 2)	910,039	773,343
Mortgagors escrow accounts (Level 2)	11,366	8,106
FHLB advances (Level 2)	59,016	66,304
FRB borrowings (Level 2)	12,080
Subordinated debt and other borrowings (Level 2)	5,155	5,155
Significant Observable Inputs (Level 2) | Fair Value.
Financial Assets:
Available for sale securities (Level 2)	105,138	114,832
FHLB stock (Level 2)	3,162	3,435
Accrued interest receivable (Level 2)	3,676	2,903
Financial Liabilities:
Deposits (Level 2)	929,438	762,272
Mortgagors escrow accounts (Level 2)	11,376	8,107
FHLB advances (Level 2)	60,185	66,724
FRB borrowings (Level 2)	12,084
Subordinated debt and other borrowings (Level 2)	5,155	5,155
Significant Unobservable Inputs (Level 3) | Carrying Value
Financial Assets:
Loans, net (Level 3)	887,320	793,471
Mortgage servicing rights (Level 3)	2,265	2,226
Significant Unobservable Inputs (Level 3) | Fair Value.
Financial Assets:
Loans, net (Level 3)	899,925	796,262
Mortgage servicing rights (Level 3)	$ 3,486	$ 4,137

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Schedule of accumulated other comprehensive loss activity) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance		$ 113,897	$ 102,849	$ 109,882	$ 59,277
Balance		113,680	105,683	$ 113,680	$ 105,683
Income tax rate				21.00%	21.00%
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	[1]	(1,219)	(5,916)	$ (4,104)	$ (7,012)
Other comprehensive (loss) gain before reclassifications	[1]	(1,658)	1,460	1,147	2,485
Amounts reclassified from accumulated other comprehensive loss	[1]	56	101	136	172
Period change	[1]	(1,602)	1,561	1,283	2,657
Balance	[1]	(2,821)	(4,355)	(2,821)	(4,355)
AOCL Defined Benefit Pension Plan
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	[1]	(3,631)	(4,381)	(3,909)	(4,436)
Other comprehensive (loss) gain before reclassifications	[1]	(1,088)	(32)	(867)	(48)
Amounts reclassified from accumulated other comprehensive loss	[1]	56	70	113	141
Period change	[1]	(1,032)	38	(754)	93
Balance	[1]	(4,663)	(4,343)	(4,663)	(4,343)
AOCL Unrealized gains (losses) on available for sale securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	[1]	2,412	(1,535)	(195)	(2,576)
Other comprehensive (loss) gain before reclassifications	[1]	(570)	1,492	2,014	2,533
Amounts reclassified from accumulated other comprehensive loss	[1]		31	23	31
Period change	[1]	(570)	1,523	2,037	2,564
Balance	[1]	$ 1,842	$ (12)	$ 1,842	$ (12)
[1]	All amounts are net of tax. Related income tax expense or benefit is calculated using an income tax rate of 21.0%.

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share
Net income applicable to common stock	$ 1,348	$ 1,075	$ 1,221	$ 911	$ 2,423	$ 2,132
Average number of common shares outstanding	11,133,290		11,133,290		11,133,290	11,133,290
Less: Average unearned ESOP shares	406,423		428,243		409,150	430,970
Average number of common shares outstanding used to calculate basic and diluted earnings per common share	10,726,867		10,705,047		10,724,140	10,702,320
Earnings per Common share:
Basic (in dollars per share)	$ 0.13		$ 0.11		$ 0.23	$ 0.20
Diluted (in dollars per share)	$ 0.13		$ 0.11		$ 0.23	$ 0.20
Potentially dilutive common stock equivalents	0		0		0	0