Rhinebeck Bancorp (RBKB) 10-Q 12 Nov 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Nov. 01, 2020
Cover [Abstract]
Document Type	10-Q
Document Period End Date	Sep. 30, 2020
Entity Registrant Name	Rhinebeck Bancorp, Inc.
Title of 12(b) Security	Common Stock
Trading Symbol	rbkb
Security Exchange Name	NASDAQ
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	Q3
Amendment Flag	false

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Assets
Cash and due from banks	$ 51,581	$ 11,978
Available for sale securities (at fair value)	106,367	114,832
Loans receivable (net of allowance for loan losses of $10,563 and $5,954, respectively)	890,495	793,471
Federal Home Loan Bank stock	2,975	3,435
Accrued interest receivable	3,897	2,903
Cash surrender value of life insurance	18,788	18,457
Deferred tax assets (net of valuation allowance of $1,713 and $1,202, respectively)	3,318	2,255
Premises and equipment, net	18,886	18,338
Other real estate owned	1,127	1,417
Goodwill	1,410	1,410
Intangible assets, net	209	241
Other assets	13,525	5,209
Total assets	1,112,578	973,946
Deposits
Noninterest bearing	251,568	179,236
Interest bearing	664,627	594,107
Total deposits	916,195	773,343
Mortgagors’ escrow accounts	4,031	8,106
Advances from the Federal Home Loan Bank	54,857	66,304
Subordinated debt	5,155	5,155
Accrued expenses and other liabilities	17,150	11,156
Total liabilities	997,388	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	45,895	45,869
Unearned common stock held by the employee stock ownership plan ("ESOP")	(3,982)	(4,146)
Retained earnings	75,725	72,152
Accumulated other comprehensive loss:
Net unrealized gain (loss) on available for sale securities, net of taxes	1,411	(195)
Defined benefit pension plan, net of taxes	(3,970)	(3,909)
Total accumulated other comprehensive loss	(2,559)	(4,104)
Total stockholders' equity	115,190	109,882
Total liabilities and stockholders' equity	$ 1,112,578	$ 973,946

Consolidated Statements of Fi_2

Consolidated Statements of Financial Condition (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Allowance for loan losses on loans receivable	$ 10,563	$ 5,954
Deferred tax valuation allowance	$ 1,713	$ 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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Interest and Dividend Income
Interest and fees on loans	$ 10,386	$ 10,160	$ 31,001	$ 28,276
Interest and dividends on securities	476	655	1,790	1,976
Other income	12	10	36	51
Total interest and dividend income	10,874	10,825	32,827	30,303
Interest Expense
Interest expense on deposits	1,553	1,957	5,429	4,980
Interest expense on borrowings	293	404	1,072	1,368
Total interest expense	1,846	2,361	6,501	6,348
Net interest income	9,028	8,464	26,326	23,955
Provision for loan losses	2,250	450	5,705	2,010
Net interest income after provision for loan losses	6,778	8,014	20,621	21,945
Noninterest Income
Service charges on deposit accounts	558	729	1,705	2,141
Net realized loss on sales and calls of securities			(29)	(40)
Net gain on sales of loans	976	289	2,382	706
Increase in cash surrender value of life insurance	97	100	290	300
Net gain from sale of other real estate owned	42		42
Other real estate owned income		8		19
Gain on disposal of premises and equipment	13		13
Investment advisory income	380	225	942	767
Other	30	108	61	263
Total noninterest income	2,096	1,459	5,406	4,156
Noninterest Expense
Salaries and employee benefits	4,158	3,876	12,305	11,706
Occupancy	885	838	2,613	2,631
Data processing	325	353	1,040	1,003
Professional fees	380	361	1,055	987
Marketing	95	166	320	468
FDIC deposit insurance and other insurance	248	29	613	317
Other real estate owned expense	54	73	80	111
Amortization of intangible assets	11	10	32	32
Other	1,276	1,126	3,438	3,543
Total noninterest expense	7,432	6,832	21,496	20,798
Income before income taxes	1,442	2,641	4,531	5,303
Provision for income taxes	292	550	958	1,080
Net income	$ 1,150	$ 2,091	$ 3,573	$ 4,223
Earnings per common share:
Basic (in dollars per share)	$ 0.10	$ 0.20	$ 0.33	$ 0.39
Diluted (in dollars per share)	$ 0.10	$ 0.20	$ 0.33	$ 0.39
Weighted average shares outstanding, basic	10,732,321	10,710,500	10,726,867	10,705,046
Weighted average shares outstanding, diluted	10,732,321	10,710,500	10,726,867	10,705,046

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net Income		$ 1,150	$ 2,091	$ 3,573	$ 4,223
Other Comprehensive Income:
Unrealized holding (losses) gains arising during the period		(545)	474	2,006	3,680
Reclassification adjustment for losses included in net realized loss on sales and calls of securities on the consolidated statements of income				29	40
Net unrealized (losses) gains on available for sale securities		(545)	474	2,035	3,720
Tax effect	[1]	114	(99)	(429)	(781)
Unrealized (losses) gains on available for sale securities, net of tax		(431)	375	1,606	2,939
Defined benefit pension plan:
Actuarial gains (losses) arising during the period		806	(50)	(291)	(111)
Reclassification adjustment for amortization of net actuarial losses	[2]	71	110	214	289
Total		877	60	(77)	178
Tax effect	[3]	(184)	(13)	16	(38)
Defined benefit pension plan gains (losses), net of tax		693	47	(61)	140
Other comprehensive income		262	422	1,545	3,079
Total Comprehensive Income		$ 1,412	$ 2,513	$ 5,118	$ 7,302
[1]	Includes $0 and $6 for the three and nine months ended September 30, 2020, respectively, and $0 and $8 for the three and nine months ended September 30, 2019, respectively, 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 $45 for the three and nine months ended September 30, 2020, respectively, and $23 and $61 for the three and nine months ended September 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		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Available-for-sale Securities, gross realized losses	[1]	$ (114)	$ 99	$ 429	$ 781
Amortization of net actuarial loss	[2]	(184)	(13)	16	(38)
Related income tax expense
Available-for-sale Securities, gross realized losses		0	0	6	8
Amortization of net actuarial loss		$ 15	$ 23	$ 45	$ 61
[1]	Includes $0 and $6 for the three and nine months ended September 30, 2020, respectively, and $0 and $8 for the three and nine months ended September 30, 2019, respectively, 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 $45 for the three and nine months ended September 30, 2020, respectively, and $23 and $61 for the three and nine months ended September 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)		102,849
Balance at Dec. 31, 2018		100		66,189	(7,012)	[1]	59,277
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income							4,223
Other comprehensive income (loss)							3,079
Balance at Sep. 30, 2019	111	45,865	(4,200)	70,412	(3,933)	[1]	108,255
Balance at Mar. 31, 2019	111	45,863	(4,309)	67,100	(5,916)		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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				2,091			2,091
Other comprehensive income (loss)					422		422
ESOP shares committed to be allocated		4	55				59
Balance at Sep. 30, 2019	111	45,865	(4,200)	70,412	(3,933)	[1]	108,255
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)		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							3,573
Other comprehensive income (loss)							1,545
Balance at Sep. 30, 2020	111	45,895	(3,982)	75,725	(2,559)	[1]	115,190
Balance at Mar. 31, 2020	111	45,869	(4,091)	73,227	(1,219)		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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				1,150			1,150
Other comprehensive income (loss)					262		262
ESOP shares committed to be allocated		(18)	55				37
Share-based compensation expense		61					61
Balance at Sep. 30, 2020	$ 111	$ 45,895	$ (3,982)	$ 75,725	$ (2,559)	[1]	$ 115,190
[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		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Cash Flows from Operating Activities
Net income			$ 3,573	$ 4,223
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization and accretion of premiums and discounts on investments, net			542	169
Net realized loss on sales and calls of securities			29	40
Net realized gain on sale of other real estate owned	$ (42)		(42)
Provision for loan losses	2,250	$ 450	5,705	2,010
Loans originated for sale			(65,974)	(30,455)
Proceeds from sale of loans			68,745	30,985
Net gain on sale of loans			(2,382)	(706)
Amortization of intangible assets	11	10	32	32	$ 43
Depreciation and amortization			1,014	969
Gain on disposal of premises and equipment	(13)		(13)
Deferred income tax benefit			(1,474)	(224)
Increase in cash surrender value of insurance	(97)	(100)	(290)	(300)
Increase in accrued interest receivable			(994)	(270)
Expense of earned ESOP shares			129
Share-based compensation expense			61
(Increase) decrease in other assets			(8,315)	1,213
Increase in accrued expenses and other liabilities			5,914	1,256
Net cash provided by operating activities			6,260	8,942
Cash Flows from Investing Activities
Proceeds from sales and calls of securities			6,997	5,554
Proceeds from maturities and principal repayments of securities			28,142	11,952
Purchases of securities			(25,210)	(28,388)
Net sales (purchases) of FHLB Stock			460	(725)
Net increase in loans			(104,977)	(82,430)
Purchases of bank owned life insurance			(41)	(41)
Purchases of bank premises and equipment			(1,548)	(2,500)
Net increase of other real estate owned			(31)
Proceeds from sale of other real estate owned			2,221	180
Net cash used in investing activities			(93,987)	(96,398)
Cash Flows from Financing Activities
Net increase in demand deposits, NOW, money market and savings accounts			151,023	31,429
Net (decrease) increase in time deposits			(8,171)	54,138
Decrease in mortgagors' escrow accounts			(4,075)	(4,032)
Net decrease in short-term debt			(2,223)	(13,954)
Net (decrease) increase in long-term debt			(9,224)	25,292
Proceeds of stock subscriptions				9,814
Return of unfulfilled stock subscriptions				(41,082)
Loan to ESOP				(4,364)
Offering expenses				(1,898)
Return of capital to Rhinebeck Bancorp, MHC				(121)
Net cash provided by financing activities			127,330	55,222
Net increase (decrease) in cash and due from banks			39,603	(32,234)
Cash and Due from Banks
Beginning balance			11,978	50,590	50,590
Ending balance	$ 51,581	$ 18,356	51,581	18,356	$ 11,978
Cash paid for:
Interest			6,650	6,243
Income taxes			2,897	$ 1,040
Noncash Investing and Financing Activities
Transfer of loans to other real estate owned			$ 1,858

Nature of Business and Signific

Nature of Business and Significant Accounting Policies	9 Months Ended
	Sep. 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 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 nine month periods ended September 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 , with the exception of the adoption of the equity incentive plan by the Company. See Item 2. – Management’s Discussion and Analysis of Financial Condition and Results of Operation – Critical Accounting Policies.” 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 economic effects of the COVID-19 outbreak has and will likely continue to 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	9 Months Ended
	Sep. 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: September 30, 2020 Gross Gross Unrealized Unrealized Amortized Cost Gains Losses Fair Value U.S. government agency mortgage-backed securities–residential $ 92,779 $ 1,811 $ (183) $ 94,407 U.S. government agency securities 7,016 168 (3) 7,181 Municipal securities (1) 1,188 23 (5) 1,206 Corporate bonds 3,000 15 (17) 2,998 Other 597 — (22) 575 Total $ 104,580 $ 2,017 $ (230) $ 106,367 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: September 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 $ 23,935 $ (171) $ 567 $ (12) $ 24,502 $ (183) U.S. government agency securities 2,000 (3) — — 2,000 (3) Municipal Securities 495 (5) — — 495 (5) Corporate Bonds 1,500 (17) — — 1,500 (17) Other 537 (22) — — 537 (22) Total $ 28,467 $ (218) $ 567 $ (12) $ 29,034 $ (230) 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 September 30, 2020, the Company had 32 individual available-for-sale securities in an unrealized loss position with unrealized losses totaling $230 with an aggregate depreciation of 0.80% 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 September 30, 2020. The amortized cost and fair value of available for sale debt securities at September 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: September 30, 2020 December 31, 2019 Amortized Cost Fair Value Amortized Cost Fair Value Maturity: Within 1 year $ — $ — $ 175 $ 175 After 1 but within 5 years 2,000 1,997 7,027 7,001 After 5 but within 10 years 8,299 8,487 7,806 7,899 After 10 years 905 901 675 670 Total Maturities 11,204 11,385 15,683 15,745 Mortgage-backed securities 92,779 94,407 98,842 98,478 Other 597 575 555 609 Total $ 104,580 $ 106,367 $ 115,080 $ 114,832 At September 30, 2020 and December 31, 2019, available for sale securities with a carrying value of $21,829 and $23,782, respectively, were pledged to secure Federal Home Loan Bank of New York (“FHLB”) borrowings. In addition, at September 30, 2020 and December 31, 2019, $556 and $726 of available for sale securities were pledged to secure borrowings at the Federal Reserve Bank of New York (“FRB”), respectively. During the nine months ended September 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	9 Months Ended
	Sep. 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: September 30, December 31, 2020 2019 Commercial real estate loans: Construction $ 9,456 $ 20,354 Non-residential 245,415 228,157 Multi-family 29,991 20,129 Residential real estate loans 40,605 43,726 Commercial and industrial loans (1) 170,663 90,554 Consumer loans: Indirect automobile 372,863 360,569 Home equity 14,961 16,276 Other consumer 9,186 9,752 Total gross loans 893,140 789,517 Net deferred loan costs 7,918 9,908 Allowance for loan losses (10,563) (5,954) Total net loans $ 890,495 $ 793,471 (1) Includes $91,729 in U.S. Small Business Administration (“SBA”), paycheck protection program (“PPP”) loans at September 30, 2020. At September 30, 2020 and December 31, 2019, the unpaid principal balances of loans held for sale, included in the residential real estate category above, were $2,295 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: September 30, 2020 Pass Special Mention Substandard Total Commercial real estate: Construction $ 9,456 $ — $ — $ 9,456 Non-residential 240,491 2,803 2,121 245,415 Multifamily 29,991 — — 29,991 Residential real estate 37,921 — 2,684 40,605 Commercial and industrial 168,838 1,068 757 170,663 Consumer: Indirect automobile 371,963 — 900 372,863 Home equity 14,465 — 496 14,961 Other consumer 9,121 — 65 9,186 Total $ 882,246 $ 3,871 $ 7,023 $ 893,140 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: September 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 $ 9,456 $ — $ — $ — $ 9,456 $ — Non-residential 242,332 212 1,580 1,291 245,415 1,291 Multifamily 29,991 — — — 29,991 — Residential real estate 38,779 644 — 1,182 40,605 2,684 Commercial and industrial 170,152 285 — 226 170,663 422 Consumer: Indirect automobile 365,445 5,473 1,049 896 372,863 900 Home equity 14,374 4 185 398 14,961 496 Other consumer 9,061 38 23 64 9,186 65 Total $ 879,590 $ 6,656 $ 2,837 $ 4,057 $ 893,140 $ 5,858 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: September 30, 2020 Recorded Unpaid Principal Related Average Recorded Investment Balance Allowance Investment With no related allowance recorded: Commercial real estate: Non-residential $ 1,291 $ 2,206 $ — $ 3,579 Multifamily — — — 281 Residential real estate 2,684 3,102 — 2,479 Commercial and industrial 373 608 — 566 Consumer: — Indirect automobile 155 190 — 345 Home equity 496 529 — 466 Other consumer 63 63 — 23 Total $ 5,062 $ 6,698 $ — $ 7,739 With an allowance recorded: Commercial and industrial $ 49 $ 49 $ 24 $ 25 Consumer: Indirect automobile 745 787 204 529 Other consumer 2 2 2 1 Total $ 796 $ 838 $ 230 $ 555 Total: Commercial real estate: Non-residential $ 1,291 $ 2,206 $ — $ 3,579 Multifamily — — — 281 Residential real estate 2,684 3,102 — 2,479 Commercial and industrial 422 657 24 591 Consumer: Indirect automobile 900 977 204 874 Home equity 496 529 — 466 Other consumer 65 65 2 24 Total $ 5,858 $ 7,536 $ 230 $ 8,294 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 September 30, 2020 and December 31, 2019, the same three loans totaling $1,600 and $1,659, included in impaired loans, were identified as TDRs. There were no new TDRs in 2019 or the first nine months of 2020. At September 30, 2020 and December 31, 2019, all TDR loans were performing in accordance with their restructured terms. At September 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 $289,538 and $270,730 as of September 30, 2020 and December 31, 2019, respectively. The balance of capitalized servicing rights, included in other assets at September 30, 2020 and December 31, 2019, were $2,319 and $2,226, respectively. Fair value exceeds carrying value. No impairment charges related to servicing rights were recognized during the period ended September 30, 2020 or 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 September 30, 2020 Allowance for loan losses: Beginning balance $ 2,673 $ 125 $ 859 $ 4,779 $ 136 $ 8,572 Provision for loan losses 1,217 4 366 653 10 2,250 Loans charged-off — — (88) (499) (3) (590) Recoveries 4 — (3) 325 5 331 Ending balance $ 3,894 $ 129 $ 1,134 $ 5,258 $ 148 $ 10,563 Commercial Residential Commercial Real Estate Real Estate and Industrial Indirect Consumer Totals Three months ended September 30, 2019 Allowance for loan losses: Beginning balance $ 1,252 $ 305 $ 1,895 $ 3,606 $ 800 $ 7,858 Provision for loan losses (79) (49) (276) 898 (44) 450 Loans charged-off — — (43) (494) (67) (604) Recoveries — — 14 173 12 199 Ending balance $ 1,173 $ 256 $ 1,590 $ 4,183 $ 701 $ 7,903 Commercial Residential Commercial Real Estate Real Estate and Industrial Indirect Consumer Totals Nine months ended September 30, 2020 Allowance for loan losses: Beginning balance $ 2,009 $ 99 $ 603 $ 3,117 $ 126 $ 5,954 Provision for loan losses 1,881 30 651 3,114 29 5,705 Loans charged-off — — (127) (1,688) (21) (1,836) Recoveries 4 — 7 715 14 740 Ending balance $ 3,894 $ 129 $ 1,134 $ 5,258 $ 148 $ 10,563 Ending balance: Loans deemed impaired $ — $ — $ 24 $ 204 $ 2 $ 230 Loans not deemed impaired $ 3,894 $ 129 $ 1,110 $ 5,054 $ 146 $ 10,333 Loan receivables: Ending balance $ 284,862 $ 40,605 $ 170,663 $ 372,863 $ 24,147 $ 893,140 Ending balance: Loans deemed impaired $ 1,291 $ 2,684 $ 422 $ 900 $ 561 $ 5,858 Loans not deemed impaired $ 283,571 $ 37,921 $ 170,241 $ 371,963 $ 23,586 $ 887,282 Commercial Residential Commercial Real Estate Real Estate and Industrial Indirect Consumer Totals Nine months ended September 30, 2019 Allowance for loan losses: Beginning balance $ 1,080 $ 320 $ 1,542 $ 2,915 $ 789 $ 6,646 Provision for loan losses 93 (67) 89 1,930 (35) 2,010 Loans charged-off — — (55) (1,413) (82) (1,550) Recoveries — 3 14 751 29 797 Ending balance $ 1,173 $ 256 $ 1,590 $ 4,183 $ 701 $ 7,903 Ending balance: Loans deemed impaired $ — $ — $ — $ 118 $ 6 $ 124 Loans not deemed impaired $ 1,173 $ 256 $ 1,590 $ 4,065 $ 695 $ 7,779 Loan receivables: Ending balance $ 245,704 $ 41,344 $ 88,187 $ 354,394 $ 27,469 $ 757,098 Ending balance: Loans deemed impaired $ 4,238 $ 2,657 $ 674 $ 673 $ 531 $ 8,773 Loans not deemed impaired $ 241,466 $ 38,687 $ 87,513 $ 353,721 $ 26,938 $ 748,325 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	9 Months Ended
	Sep. 30, 2020
Premises and Equipment
Premises and Equipment	4. Premises and Equipment Premises and equipment are summarized as follows: September 30, December 31, 2020 2019 Land $ 3,690 $ 3,690 Buildings and improvements 25,941 25,371 Furniture, fixtures and equipment 12,865 12,090 Construction in process 484 267 Total 42,980 41,418 Less accumulated depreciation (24,094) (23,080) Net $ 18,886 $ 18,338

Goodwill

Goodwill	9 Months Ended
	Sep. 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 September 30, 2020 and December 31, 2019. During the third 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 determined that no write-down was required for the first nine months of 2020 or 2019.

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2020
Intangible Assets
Intangible Assets	6. Intangible Assets The changes in the carrying value of customer list intangible are as follows: Nine Months Year Ended Ended September 30, December 31, 2020 2019 Beginning balance $ 241 $ 284 Amortization (32) (43) Ending balance $ 209 $ 241 Accumulated amortization and impairment $ 738 $ 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 $32 and $43 of amortization expense related to its intangible assets for the nine months ended September 30, 2020 and the year ended December 31, 2019, respectively. The Company recognized $11 of amortization expense for the three months ended September 30, 2020. Impairment exists when a reporting unit’s carrying value exceeds it fair value. At September 30, 2020, the Company’s reporting unit had positive equity and in the third quarter, the Company elected to perform a qualitative assessment and determined 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 September 30, 2020, the future amortization expense for amortizable intangible assets for the respective years is as follows: 2020 $ 10 2021 42 2022 42 2023 42 2024 42 Thereafter 31 Total $ 209

Deposits

Deposits	9 Months Ended
	Sep. 30, 2020
Deposits [Abstract]
Deposits	7. Deposits Deposits balances are summarized as follows: September 30, December 31, 2020 2019 Noninterest bearing demand deposits $ 251,568 $ 179,236 Interest bearing accounts: NOW 126,653 95,572 Savings 148,591 121,139 Money market 178,905 158,747 Time certificates of deposit 210,478 218,649 Total interest bearing accounts 664,627 594,107 Total deposits $ 916,195 $ 773,343 Included in time certificates of deposit at September 30, 2020 and December 31, 2019 were reciprocal deposits totaling $32,236 and $21,270, respectively, with original maturities of one to three years. Time certificates of deposit in denominations of $250 or greater were $36,286 and $44,605 as of September 30, 2020 and December 31, 2019, respectively. Contractual maturities of time certificates of deposit at September 30, 2020 are summarized below: September 30, 2020 Within 1 year $ 135,144 1 – 2 years 50,548 2 – 3 years 8,332 3 – 4 years 7,625 4 – 5 years 8,829 Total $ 210,478

Long-Term Debt and FHLB Stock

Long-Term Debt and FHLB Stock	9 Months Ended
	Sep. 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 September 30, 2020 and December 31, 2019, the Bank had access to a preapproved secured line of credit with the FHLB of $556,202 and $486,906, respectively. Borrowings under this line require collateralization through the pledge of specific loans and securities. At September 30, 2020 and December 31, 2019, the Bank had pledged assets of $176,487 and $168,230, respectively. At September 30, 2020, the Bank also had structured borrowings with the FHLB in the amount of $54,857. The outstanding principal amounts and the related terms and rates at September 30, 2020 were as follows: Term Principal Maturity Rate Due in one year Long term 1 year bullet 10,000 March 26, 2021 0.80 % 10,000 — 2 year amortizing 3,809 May 17, 2021 2.53 % 3,809 — 2 year bullet 10,000 May 17, 2021 2.46 % 10,000 — 3 year amortizing 2,583 May 17, 2021 2.92 % 2,583 — 3 year amortizing 5,924 May 16, 2022 2.49 % 3,353 2,571 3 year bullet 10,000 May 16, 2022 2.44 % — 10,000 3 year amortizing 12,541 February 28, 2023 1.32 % 4,967 7,574 Total $ 54,857 Weighted Average Rate 1.92 % $ 34,712 $ 20,145 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 September 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 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% (2.26% at September 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 PPP 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 which was repaid in full on July 2, 2020. 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 September 30, 2020 or December 31, 2019.

Employee Benefits

Employee Benefits	9 Months Ended
	Sep. 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 September 30, 2012, the effective date on which, the Board of Directors of the Bank voted to freeze the 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: September 30, December 31, 2020 2019 Projected and accumulated benefit obligation $ (22,160) $ (20,953) Plan assets at fair value 21,835 20,628 Funded status included in accrued expenses and other liabilities $ (325) $ (325) The net periodic pension cost and amounts recognized in other comprehensive income (loss) are as follows: Nine months ended Nine months ended September 30, September 30, 2020 2019 Interest cost $ 502 $ 555 Expected return on plan assets (1,691) (705) Amortization of unrecognized loss 1,266 328 Net periodic cost $ 77 $ 178 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 September 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 nine months of 2020 or 2019. The fair value of the Company’s pension plan assets, by fair value hierarchy, are as follows: September 30, 2020 Level 1 Level 2 Level 3 Total Assets: Investment in separate accounts Fixed income $ 16,423 $ — $ — $ 16,423 Equity 5,412 — — 5,412 Total assets at fair value $ 21,835 $ — $ — $ 21,835 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 $732 and $643 for the nine months ended September 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 September 30, 2020 and December 31, 2019, total amounts due of $2,221 and $2,086, respectively, are included in accrued expenses and other liabilities. Total expenses related to the Directors’ Plan were $131 and $91 for the nine months ended September 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 September 30, 2020 and December 31, 2019, $1,214 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 $419 and $405 for the nine months ended September 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 $1,373 and $1,330, respectively, at September 30, 2020 and December 31, 2019. The Company recognized expenses of $43 and $40 for the nine-month periods ended September 30, 2020 and September 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 $2,140 and $2,123, at September 30, 2020 and December 31, 2019, respectively. The Company recognized expenses of $65 and $67 for the nine months ended September 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 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 September 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: September 30, 2020 Allocated 21,821 Committed to be allocated 16,362 Unallocated 398,242 Total shares 436,425 The fair value of unallocated shares was $2,517 at September 30, 2020. Total compensation expense recognized in connection with the ESOP for the nine months ended September 30, 2020 and 2019 was $129 and $185, respectively. Share-Based Compensation Plan On May 26, 2020, stockholders of the Company approved the 2020 Equity Incentive Plan (the “EIP”). The EIP authorizes the issuance or delivery to participants of up to 763,743 shares of Rhinebeck Bancorp common stock pursuant to grants of incentive and non-qualified stock options, restricted stock awards and restricted stock units. Of this number, the maximum number of shares of Rhinebeck Bancorp common stock that may be issued under the EIP pursuant to the exercise of stock options is 545,531 shares, and the maximum number of shares of Rhinebeck Bancorp common stock that may be issued as restricted stock awards or restricted stock units is 218,212 shares. These amounts represent 4.90% and 1.96%, respectively, of the number of shares of common stock issued in the stock offering of Rhinebeck Bancorp, including the shares issued to Rhinebeck Bancorp, MHC. Pursuant to terms of the EIP, the Board of Directors has granted restricted stock and stock options to employees and directors, effective August 25, 2020. All of the awards granted to date vest annually over a three-year period from the date of the grant and the maximum term of each option is ten years. As of September 30, 2020, there were 112,146 stock options and 48,443 restricted stock awards that remain available for future grants. The fair value of each option award for the EIP is estimated on the date of grant using the Black-Scholes Option-Pricing Model. The expected volatility is based on the historical volatility of a peer group of comparable SEC-reporting bank holding companies. The dividend yield assumption is based on the Company’s expectation of dividend payouts. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the date of grant. The Company has elected to recognize forfeitures as they occur. The Company follows SEC safe-harbor guidelines when determining the expected term of the options granted. The assumptions used and fair value for options granted as of September 30, 2020 are as follows: September 30, 2020 Expected term (years) 6 Expected dividend yield Expected volatility Risk-free interest rate Fair value of options granted $ A summary of options under the 2020 EIP as of September 30, 2020, is presented below: Weighted - Weighted-Average Number of Average Contractual Term Shares Exercise Price (in Years) Options outstanding at beginning of year - $ - - Options granted 433,385 6.57 6.00 Options exercised - - - Forfeited - - - Options outstanding at September 30, 2020 433,385 $ 6.57 6.00 Options exercisable at September 30, 2020 - - - The options did not have an aggregate intrinsic value, which fluctuates based on changes in the fair market value of the Company’s stock, at September 30, 2020, as the closing stock price of $6.32 was less than the weighted average exercise price. The aggregate intrinsic value represents the total pre-tax intrinsic value (i.e., the difference between the Company’s closing stock price on the last trading day of period and the weighted-average exercise price, multiplied by the number of shares) that would have been received by the option holders had all option holders exercised their options on September 30, 2020. The following table summarizes the Company’s restricted stock activity for the nine months ended September 30, 2020: Weighted-Average Number Grant Date of Shares Fair Value Non-vested restricted stock at beginning of year - $ - Granted 169,769 6.57 Vested - - Forfeited - - Non-vested restricted stock at end of year 169,769 $ 6.57 The aggregate grant date fair value of the options and restricted stock granted as of September 30, 2020 was $723 and $1,115, respectively. For the nine months ended September 30, 2020, share-based compensation under the plan was $61,000.

Leases

Leases	9 Months Ended
	Sep. 30, 2020
Leases
Leases	10. Leases As of September 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 12.9 years as of September 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 September 30, 2020. For the nine months ended September 30, 2020, total operating lease costs were $441 and were included in occupancy and other expense. Deferred rent liability was $185 at September 30, 2020 and $213 at December 31, 2019. The right-of-use asset, included in other assets, was $6,407 and the corresponding lease liability, included in accrued expenses and other liabilities was $6,407 as of September 30, 2020. Future minimum payments for operating leases with initial or remaining terms of one year or more as of September 30, 2020 were as follows: Years ending December 31: 2020 $ 159 2021 637 2022 593 2023 570 2024 566 Thereafter 5,086 Total future minimum lease payments 7,611 Amounts representing interest (1,204) Present Value of Net Future Minimum Lease Payments $ 6,407

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 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: September 30, December 31, 2020 2019 Commitments to extend credit summarized as follows: Future loan commitments $ 14,189 $ 9,881 Undisbursed construction loans 4,675 10,202 Undisbursed home equity lines of credit 10,546 10,277 Undisbursed commercial and other line of credit 64,716 59,234 Standby letters of credit 5,681 5,290 Total $ 99,807 $ 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	9 Months Ended
	Sep. 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. 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 September 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 September 30, 2020 Rhinebeck Bank Total capital (to risk-weighted assets) $ 118,861 13.60 % $ 69,936 8.00 % $ 87,420 10.00 % Tier 1 capital (to risk-weighted assets) 108,298 12.39 % 52,452 6.00 % 69,936 8.00 % Common equity tier one capital (to risk weighted assets) 108,298 12.39 % 39,339 4.50 % 56,823 6.50 % Tier 1 capital (to average assets) 108,298 9.67 % 44,815 4.00 % 56,018 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	9 Months Ended
	Sep. 30, 2020
Fair Value
Fair Value	13. Fair Value 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. Subordinated Debt 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) September 30, 2020 U.S. government agency mortgage-backed securities-residential $ 94,407 $ — $ 94,407 $ — U.S. government agency securities 7,181 — 7,181 — Municipal securities 1,206 — 1,046 160 Corporate Bonds 2,998 — 2,998 — Other 575 — 575 — Total $ 106,367 $ — $ 106,207 $ 160 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 September 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) September 30, 2020 Impaired loans, with specific reserves $ 566 $ — $ — $ 566 Other real estate owned 1,127 — — 1,127 Total $ 1,693 $ — $ — $ 1,693 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) September 30, 2020 Impaired loans $ 566 Appraisal of collateral (1) Appraisal adjustments (2) 0% to 20% Other real estate owned 1,127 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: September 30, December 31, 2020 2019 Carrying Value Fair Value Carrying Value Fair Value Financial Assets: Cash and due from banks (Level 1) $ 51,581 $ 51,581 $ 11,978 $ 11,978 Available for sale securities (Level 2) 106,367 106,367 114,832 114,832 FHLB stock (Level 2) 2,975 2,975 3,435 3,435 Loans, net (Level 3) 890,495 901,219 793,471 796,262 Accrued interest receivable (Level 2) 3,897 3,897 2,903 2,903 Mortgage servicing rights (Level 3) 2,319 3,431 2,226 4,137 Financial Liabilities: Deposits (Level 2) 916,195 938,060 773,343 762,272 Mortgagors escrow accounts (Level 2) 4,031 4,037 8,106 8,107 FHLB advances (Level 2) 54,857 55,862 66,304 66,724 Subordinated debt (Level 2) 5,155 5,155 5,155 5,155

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 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	9 Months Ended
	Sep. 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 nine months ended September 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 June 30, 2020 $ (4,663) $ 1,842 $ (2,821) Other comprehensive loss before reclassifications 637 (431) 206 Amounts reclassified from accumulated other comprehensive loss 56 — 56 Period change 693 (431) 262 Balance at September 30, 2020 $ (3,970) $ 1,411 $ (2,559) Balance at June 30, 2019 $ (4,343) $ (12) $ (4,355) Other comprehensive (loss) gain before reclassifications (24) 375 351 Amounts reclassified from accumulated other comprehensive loss 71 — 71 Period change 47 375 422 Balance at September 30, 2019 $ (4,296) $ 363 $ (3,933) 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 (230) 1,583 1,353 Amounts reclassified from accumulated other comprehensive loss 169 23 192 Period change (61) 1,606 1,545 Balance at September 30, 2020 $ (3,970) $ 1,411 $ (2,559) Balance at December 31, 2018 $ (4,436) $ (2,576) $ (7,012) Other comprehensive (loss) gain before reclassifications (72) 2,907 2,835 Amounts reclassified from accumulated other comprehensive loss 212 32 244 Period change 140 2,939 3,079 Balance at September 30, 2019 $ (4,296) $ 363 $ (3,933)

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 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. Diluted earnings per share is computed in a manner similar to that of basic earnings per share except that the weighted-average number of common shares outstanding is increased to include the number of incremental shares (computed using the treasury method) that would have been outstanding if all potentially dilutive common stock equivalents (such as options) were issued during the period. Unearned ESOP shares are not deemed outstanding for earnings per share calculations. For the three and nine months ended September 30, 2020, there were 433,385 options and 169,769 shares of nonvested restricted stock outstanding at an average weighted price of $6.57 per share that were not included in the computation of diluted earnings per share because to do so would be anti-dilutive. There were no potentially dilutive common stock equivalents for the three and nine months ended September 30, 2019. Three months ended September 30, Nine months ended September 30, 2020 2019 2020 2019 Net income applicable to common stock $ 1,150 $ 2,091 $ 3,573 $ 4,223 Average number of common shares outstanding 11,133,290 11,133,290 11,133,290 11,133,290 Less: Average unearned ESOP shares 400,969 422,790 406,423 428,244 Average number of common shares outstanding used to calculate basic and diluted earnings per common share 10,732,321 10,710,500 10,726,867 10,705,046 Earnings per Common share: Basic $ 0.10 $ 0.20 $ 0.33 $ 0.39 Diluted $ 0.10 $ 0.20 $ 0.33 $ 0.39

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	17. Subsequent Events ASC 855, Subsequent Events, establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued. Rhinebeck Bancorp, Inc. evaluated all events or transactions that occurred after September 30, 2020 through the date of the issued financial statements. On October 26, 2020, the Bank and ConnectOne Bank, the wholly-owned subsidiary of ConnectOne Bancorp, Inc., executed a purchase and assumption agreement (the “Agreement”) providing for the acquisition by the Bank of the two ConnectOne branch offices located in Monroe and Warwick, New York. In accordance with the Agreement, the Bank will assume certain customer deposits and certain other assets and liabilities associated with those branch offices. The transaction is expected to close late in the fourth quarter of 2020 or early in the first quarter of 2021, subject to regulatory approval and other customary closing conditions. Other than what is noted above, no other events meeting the requirements of disclosure arose during the time period from September 30, 2020 through the date of the issued financial statements.

Nature of Business and Signif_2

Nature of Business and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 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 economic effects of the COVID-19 outbreak has and will likely continue to 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)	9 Months Ended
	Sep. 30, 2020
Investment Securities
Schedule of amortized cost, gross unrealized gains and losses and fair values of available for sale securities	September 30, 2020 Gross Gross Unrealized Unrealized Amortized Cost Gains Losses Fair Value U.S. government agency mortgage-backed securities–residential $ 92,779 $ 1,811 $ (183) $ 94,407 U.S. government agency securities 7,016 168 (3) 7,181 Municipal securities (1) 1,188 23 (5) 1,206 Corporate bonds 3,000 15 (17) 2,998 Other 597 — (22) 575 Total $ 104,580 $ 2,017 $ (230) $ 106,367 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	September 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 $ 23,935 $ (171) $ 567 $ (12) $ 24,502 $ (183) U.S. government agency securities 2,000 (3) — — 2,000 (3) Municipal Securities 495 (5) — — 495 (5) Corporate Bonds 1,500 (17) — — 1,500 (17) Other 537 (22) — — 537 (22) Total $ 28,467 $ (218) $ 567 $ (12) $ 29,034 $ (230) 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	September 30, 2020 December 31, 2019 Amortized Cost Fair Value Amortized Cost Fair Value Maturity: Within 1 year $ — $ — $ 175 $ 175 After 1 but within 5 years 2,000 1,997 7,027 7,001 After 5 but within 10 years 8,299 8,487 7,806 7,899 After 10 years 905 901 675 670 Total Maturities 11,204 11,385 15,683 15,745 Mortgage-backed securities 92,779 94,407 98,842 98,478 Other 597 575 555 609 Total $ 104,580 $ 106,367 $ 115,080 $ 114,832

Loans and Allowance for Loan _2

Loans and Allowance for Loan Losses (Tables)	9 Months Ended
	Sep. 30, 2020
Loans and Allowance for Loan Losses
Schedule of summary loan portfolio	September 30, December 31, 2020 2019 Commercial real estate loans: Construction $ 9,456 $ 20,354 Non-residential 245,415 228,157 Multi-family 29,991 20,129 Residential real estate loans 40,605 43,726 Commercial and industrial loans (1) 170,663 90,554 Consumer loans: Indirect automobile 372,863 360,569 Home equity 14,961 16,276 Other consumer 9,186 9,752 Total gross loans 893,140 789,517 Net deferred loan costs 7,918 9,908 Allowance for loan losses (10,563) (5,954) Total net loans $ 890,495 $ 793,471 (1) Includes $91,729 in U.S. Small Business Administration (“SBA”), paycheck protection program (“PPP”) loans at September 30, 2020.
Schedule of loans by risk rating and portfolio segment	September 30, 2020 Pass Special Mention Substandard Total Commercial real estate: Construction $ 9,456 $ — $ — $ 9,456 Non-residential 240,491 2,803 2,121 245,415 Multifamily 29,991 — — 29,991 Residential real estate 37,921 — 2,684 40,605 Commercial and industrial 168,838 1,068 757 170,663 Consumer: Indirect automobile 371,963 — 900 372,863 Home equity 14,465 — 496 14,961 Other consumer 9,121 — 65 9,186 Total $ 882,246 $ 3,871 $ 7,023 $ 893,140 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	September 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 $ 9,456 $ — $ — $ — $ 9,456 $ — Non-residential 242,332 212 1,580 1,291 245,415 1,291 Multifamily 29,991 — — — 29,991 — Residential real estate 38,779 644 — 1,182 40,605 2,684 Commercial and industrial 170,152 285 — 226 170,663 422 Consumer: Indirect automobile 365,445 5,473 1,049 896 372,863 900 Home equity 14,374 4 185 398 14,961 496 Other consumer 9,061 38 23 64 9,186 65 Total $ 879,590 $ 6,656 $ 2,837 $ 4,057 $ 893,140 $ 5,858 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	September 30, 2020 Recorded Unpaid Principal Related Average Recorded Investment Balance Allowance Investment With no related allowance recorded: Commercial real estate: Non-residential $ 1,291 $ 2,206 $ — $ 3,579 Multifamily — — — 281 Residential real estate 2,684 3,102 — 2,479 Commercial and industrial 373 608 — 566 Consumer: — Indirect automobile 155 190 — 345 Home equity 496 529 — 466 Other consumer 63 63 — 23 Total $ 5,062 $ 6,698 $ — $ 7,739 With an allowance recorded: Commercial and industrial $ 49 $ 49 $ 24 $ 25 Consumer: Indirect automobile 745 787 204 529 Other consumer 2 2 2 1 Total $ 796 $ 838 $ 230 $ 555 Total: Commercial real estate: Non-residential $ 1,291 $ 2,206 $ — $ 3,579 Multifamily — — — 281 Residential real estate 2,684 3,102 — 2,479 Commercial and industrial 422 657 24 591 Consumer: Indirect automobile 900 977 204 874 Home equity 496 529 — 466 Other consumer 65 65 2 24 Total $ 5,858 $ 7,536 $ 230 $ 8,294 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 September 30, 2020 Allowance for loan losses: Beginning balance $ 2,673 $ 125 $ 859 $ 4,779 $ 136 $ 8,572 Provision for loan losses 1,217 4 366 653 10 2,250 Loans charged-off — — (88) (499) (3) (590) Recoveries 4 — (3) 325 5 331 Ending balance $ 3,894 $ 129 $ 1,134 $ 5,258 $ 148 $ 10,563 Commercial Residential Commercial Real Estate Real Estate and Industrial Indirect Consumer Totals Three months ended September 30, 2019 Allowance for loan losses: Beginning balance $ 1,252 $ 305 $ 1,895 $ 3,606 $ 800 $ 7,858 Provision for loan losses (79) (49) (276) 898 (44) 450 Loans charged-off — — (43) (494) (67) (604) Recoveries — — 14 173 12 199 Ending balance $ 1,173 $ 256 $ 1,590 $ 4,183 $ 701 $ 7,903 Commercial Residential Commercial Real Estate Real Estate and Industrial Indirect Consumer Totals Nine months ended September 30, 2020 Allowance for loan losses: Beginning balance $ 2,009 $ 99 $ 603 $ 3,117 $ 126 $ 5,954 Provision for loan losses 1,881 30 651 3,114 29 5,705 Loans charged-off — — (127) (1,688) (21) (1,836) Recoveries 4 — 7 715 14 740 Ending balance $ 3,894 $ 129 $ 1,134 $ 5,258 $ 148 $ 10,563 Ending balance: Loans deemed impaired $ — $ — $ 24 $ 204 $ 2 $ 230 Loans not deemed impaired $ 3,894 $ 129 $ 1,110 $ 5,054 $ 146 $ 10,333 Loan receivables: Ending balance $ 284,862 $ 40,605 $ 170,663 $ 372,863 $ 24,147 $ 893,140 Ending balance: Loans deemed impaired $ 1,291 $ 2,684 $ 422 $ 900 $ 561 $ 5,858 Loans not deemed impaired $ 283,571 $ 37,921 $ 170,241 $ 371,963 $ 23,586 $ 887,282 Commercial Residential Commercial Real Estate Real Estate and Industrial Indirect Consumer Totals Nine months ended September 30, 2019 Allowance for loan losses: Beginning balance $ 1,080 $ 320 $ 1,542 $ 2,915 $ 789 $ 6,646 Provision for loan losses 93 (67) 89 1,930 (35) 2,010 Loans charged-off — — (55) (1,413) (82) (1,550) Recoveries — 3 14 751 29 797 Ending balance $ 1,173 $ 256 $ 1,590 $ 4,183 $ 701 $ 7,903 Ending balance: Loans deemed impaired $ — $ — $ — $ 118 $ 6 $ 124 Loans not deemed impaired $ 1,173 $ 256 $ 1,590 $ 4,065 $ 695 $ 7,779 Loan receivables: Ending balance $ 245,704 $ 41,344 $ 88,187 $ 354,394 $ 27,469 $ 757,098 Ending balance: Loans deemed impaired $ 4,238 $ 2,657 $ 674 $ 673 $ 531 $ 8,773 Loans not deemed impaired $ 241,466 $ 38,687 $ 87,513 $ 353,721 $ 26,938 $ 748,325 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)	9 Months Ended
	Sep. 30, 2020
Premises and Equipment
Schedule of premises and equipment	September 30, December 31, 2020 2019 Land $ 3,690 $ 3,690 Buildings and improvements 25,941 25,371 Furniture, fixtures and equipment 12,865 12,090 Construction in process 484 267 Total 42,980 41,418 Less accumulated depreciation (24,094) (23,080) Net $ 18,886 $ 18,338

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2020
Intangible Assets
Schedule of changes in the carrying value of customer list intangible	Nine Months Year Ended Ended September 30, December 31, 2020 2019 Beginning balance $ 241 $ 284 Amortization (32) (43) Ending balance $ 209 $ 241 Accumulated amortization and impairment $ 738 $ 706
Schedule of future amortization expense for amortizable intangible assets	2020 $ 10 2021 42 2022 42 2023 42 2024 42 Thereafter 31 Total $ 209

Deposits (Tables)

Deposits (Tables)	9 Months Ended
	Sep. 30, 2020
Deposits [Abstract]
Schedule of deposits	September 30, December 31, 2020 2019 Noninterest bearing demand deposits $ 251,568 $ 179,236 Interest bearing accounts: NOW 126,653 95,572 Savings 148,591 121,139 Money market 178,905 158,747 Time certificates of deposit 210,478 218,649 Total interest bearing accounts 664,627 594,107 Total deposits $ 916,195 $ 773,343
Schedule of contractual maturities of time certificates of deposit	September 30, 2020 Within 1 year $ 135,144 1 – 2 years 50,548 2 – 3 years 8,332 3 – 4 years 7,625 4 – 5 years 8,829 Total $ 210,478

Long-Term Debt and FHLB Stock (

Long-Term Debt and FHLB Stock (Tables)	9 Months Ended
	Sep. 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 March 26, 2021 0.80 % 10,000 — 2 year amortizing 3,809 May 17, 2021 2.53 % 3,809 — 2 year bullet 10,000 May 17, 2021 2.46 % 10,000 — 3 year amortizing 2,583 May 17, 2021 2.92 % 2,583 — 3 year amortizing 5,924 May 16, 2022 2.49 % 3,353 2,571 3 year bullet 10,000 May 16, 2022 2.44 % — 10,000 3 year amortizing 12,541 February 28, 2023 1.32 % 4,967 7,574 Total $ 54,857 Weighted Average Rate 1.92 % $ 34,712 $ 20,145

Employee Benefits (Tables)

Employee Benefits (Tables)	9 Months Ended
	Sep. 30, 2020
Employee Benefits
Schedule of plan's funded status and amounts recognized in consolidated statement of financial condition	September 30, December 31, 2020 2019 Projected and accumulated benefit obligation $ (22,160) $ (20,953) Plan assets at fair value 21,835 20,628 Funded status included in accrued expenses and other liabilities $ (325) $ (325)
Schedule of net periodic pension cost and amounts recognized in other comprehensive income (loss)	Nine months ended Nine months ended September 30, September 30, 2020 2019 Interest cost $ 502 $ 555 Expected return on plan assets (1,691) (705) Amortization of unrecognized loss 1,266 328 Net periodic cost $ 77 $ 178
Schedule of fair value of pension plan assets, by fair value hierarchy	September 30, 2020 Level 1 Level 2 Level 3 Total Assets: Investment in separate accounts Fixed income $ 16,423 $ — $ — $ 16,423 Equity 5,412 — — 5,412 Total assets at fair value $ 21,835 $ — $ — $ 21,835 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	September 30, 2020 Allocated 21,821 Committed to be allocated 16,362 Unallocated 398,242 Total shares 436,425
Schedule of assumptions used and fair value for options granted	The Company follows SEC safe-harbor guidelines when determining the expected term of the options granted. The assumptions used and fair value for options granted as of September 30, 2020 are as follows: September 30, 2020 Expected term (years) 6 Expected dividend yield Expected volatility Risk-free interest rate Fair value of options granted $
Summary of options	A summary of options under the 2020 EIP as of September 30, 2020, is presented below: Weighted - Weighted-Average Number of Average Contractual Term Shares Exercise Price (in Years) Options outstanding at beginning of year - $ - - Options granted 433,385 6.57 6.00 Options exercised - - - Forfeited - - - Options outstanding at September 30, 2020 433,385 $ 6.57 6.00 Options exercisable at September 30, 2020 - - -
Summary of Company’s restricted stock activity	The following table summarizes the Company’s restricted stock activity for the nine months ended September 30, 2020: Weighted-Average Number Grant Date of Shares Fair Value Non-vested restricted stock at beginning of year - $ - Granted 169,769 6.57 Vested - - Forfeited - - Non-vested restricted stock at end of year 169,769 $ 6.57

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2020
Leases
Schedule of future minimum payments for operating leases	Years ending December 31: 2020 $ 159 2021 637 2022 593 2023 570 2024 566 Thereafter 5,086 Total future minimum lease payments 7,611 Amounts representing interest (1,204) Present Value of Net Future Minimum Lease Payments $ 6,407

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies
Schedule of contract amounts represent off-balance sheet credit risk	September 30, December 31, 2020 2019 Commitments to extend credit summarized as follows: Future loan commitments $ 14,189 $ 9,881 Undisbursed construction loans 4,675 10,202 Undisbursed home equity lines of credit 10,546 10,277 Undisbursed commercial and other line of credit 64,716 59,234 Standby letters of credit 5,681 5,290 Total $ 99,807 $ 94,884

Regulatory Matters (Tables)

Regulatory Matters (Tables)	9 Months Ended
	Sep. 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 September 30, 2020 Rhinebeck Bank Total capital (to risk-weighted assets) $ 118,861 13.60 % $ 69,936 8.00 % $ 87,420 10.00 % Tier 1 capital (to risk-weighted assets) 108,298 12.39 % 52,452 6.00 % 69,936 8.00 % Common equity tier one capital (to risk weighted assets) 108,298 12.39 % 39,339 4.50 % 56,823 6.50 % Tier 1 capital (to average assets) 108,298 9.67 % 44,815 4.00 % 56,018 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)	9 Months Ended
	Sep. 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) September 30, 2020 U.S. government agency mortgage-backed securities-residential $ 94,407 $ — $ 94,407 $ — U.S. government agency securities 7,181 — 7,181 — Municipal securities 1,206 — 1,046 160 Corporate Bonds 2,998 — 2,998 — Other 575 — 575 — Total $ 106,367 $ — $ 106,207 $ 160 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) September 30, 2020 Impaired loans, with specific reserves $ 566 $ — $ — $ 566 Other real estate owned 1,127 — — 1,127 Total $ 1,693 $ — $ — $ 1,693 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) September 30, 2020 Impaired loans $ 566 Appraisal of collateral (1) Appraisal adjustments (2) 0% to 20% Other real estate owned 1,127 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	September 30, December 31, 2020 2019 Carrying Value Fair Value Carrying Value Fair Value Financial Assets: Cash and due from banks (Level 1) $ 51,581 $ 51,581 $ 11,978 $ 11,978 Available for sale securities (Level 2) 106,367 106,367 114,832 114,832 FHLB stock (Level 2) 2,975 2,975 3,435 3,435 Loans, net (Level 3) 890,495 901,219 793,471 796,262 Accrued interest receivable (Level 2) 3,897 3,897 2,903 2,903 Mortgage servicing rights (Level 3) 2,319 3,431 2,226 4,137 Financial Liabilities: Deposits (Level 2) 916,195 938,060 773,343 762,272 Mortgagors escrow accounts (Level 2) 4,031 4,037 8,106 8,107 FHLB advances (Level 2) 54,857 55,862 66,304 66,724 Subordinated debt (Level 2) 5,155 5,155 5,155 5,155

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2020
Accumulated Other Comprehensive Loss.
Schedule of accumulated other comprehensive loss components	The activity in accumulated other comprehensive loss for the three and nine months ended September 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 June 30, 2020 $ (4,663) $ 1,842 $ (2,821) Other comprehensive loss before reclassifications 637 (431) 206 Amounts reclassified from accumulated other comprehensive loss 56 — 56 Period change 693 (431) 262 Balance at September 30, 2020 $ (3,970) $ 1,411 $ (2,559) Balance at June 30, 2019 $ (4,343) $ (12) $ (4,355) Other comprehensive (loss) gain before reclassifications (24) 375 351 Amounts reclassified from accumulated other comprehensive loss 71 — 71 Period change 47 375 422 Balance at September 30, 2019 $ (4,296) $ 363 $ (3,933) 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 (230) 1,583 1,353 Amounts reclassified from accumulated other comprehensive loss 169 23 192 Period change (61) 1,606 1,545 Balance at September 30, 2020 $ (3,970) $ 1,411 $ (2,559) Balance at December 31, 2018 $ (4,436) $ (2,576) $ (7,012) Other comprehensive (loss) gain before reclassifications (72) 2,907 2,835 Amounts reclassified from accumulated other comprehensive loss 212 32 244 Period change 140 2,939 3,079 Balance at September 30, 2019 $ (4,296) $ 363 $ (3,933)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share
Schedule of earnings per share, basic and diluted	Three months ended September 30, Nine months ended September 30, 2020 2019 2020 2019 Net income applicable to common stock $ 1,150 $ 2,091 $ 3,573 $ 4,223 Average number of common shares outstanding 11,133,290 11,133,290 11,133,290 11,133,290 Less: Average unearned ESOP shares 400,969 422,790 406,423 428,244 Average number of common shares outstanding used to calculate basic and diluted earnings per common share 10,732,321 10,710,500 10,726,867 10,705,046 Earnings per Common share: Basic $ 0.10 $ 0.20 $ 0.33 $ 0.39 Diluted $ 0.10 $ 0.20 $ 0.33 $ 0.39

Nature of Business and Signif_3

Nature of Business and Significant Accounting Policies (Details) $ in Thousands	Jan. 01, 2020USD ($)	Sep. 30, 2020USD ($)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		$ 6,407
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]		Other Assets
Operating Lease, Liability		$ 6,407
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		Sep. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		$ 104,580	$ 115,080
Gross Unrealized Gains		2,017	613
Gross Unrealized Losses		(230)	(861)
Fair Value		106,367	114,832
U.S. government agency mortgage-backed securities-residential
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		92,779	98,842
Gross Unrealized Gains		1,811	464
Gross Unrealized Losses		(183)	(828)
Fair Value		94,407	98,478
U.S. government agency securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		7,016	12,049
Gross Unrealized Gains		168	53
Gross Unrealized Losses		(3)	(26)
Fair Value		7,181	12,076
Municipal securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	[1]	1,188	1,384
Gross Unrealized Gains	[1]	23	17
Gross Unrealized Losses	[1]	(5)	(5)
Fair Value	[1]	1,206	1,396
Corporate Bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		3,000	2,250
Gross Unrealized Gains		15	25
Gross Unrealized Losses		(17)	(2)
Fair Value		2,998	2,273
Other
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		597	555
Gross Unrealized Gains		0	54
Gross Unrealized Losses		(22)
Fair Value		$ 575	$ 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	Sep. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months Fair Value	$ 28,467	$ 36,851
Less Than 12 Months Unrealized Losses	(218)	(309)
12 Months or Longer Fair Value	567	34,253
12 Months or Longer Unrealized Losses	(12)	(552)
Fair Value	29,034	71,104
Unrealized Losses	(230)	(861)
U.S. government agency mortgage-backed securities-residential
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months Fair Value	23,935	35,612
Less Than 12 Months Unrealized Losses	(171)	(302)
12 Months or Longer Fair Value	567	27,252
12 Months or Longer Unrealized Losses	(12)	(526)
Fair Value	24,502	62,864
Unrealized Losses	(183)	(828)
U.S. government agency securities
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months Fair Value	2,000
Less Than 12 Months Unrealized Losses	(3)
12 Months or Longer Fair Value		7,001
12 Months or Longer Unrealized Losses		(26)
Fair Value	2,000	7,001
Unrealized Losses	(3)	(26)
Municipal securities
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months Fair Value	495	490
Less Than 12 Months Unrealized Losses	(5)	(5)
Fair Value	495	490
Unrealized Losses	(5)	(5)
Corporate Bonds
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months Fair Value	1,500	749
Less Than 12 Months Unrealized Losses	(17)	(2)
Fair Value	1,500	749
Unrealized Losses	(17)	$ (2)
Other
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months Fair Value	537
Less Than 12 Months Unrealized Losses	(22)
Fair Value	537
Unrealized Losses	$ (22)

Investment Securities (Schedu_3

Investment Securities (Schedule of maturities of debt securities) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Amortized Cost
Within 1 year		$ 175
After 1 but within 5 years	$ 2,000	7,027
After 5 but within 10 years	8,299	7,806
After 10 years	905	675
Total Maturities	11,204	15,683
Mortgage-backed securities	92,779	98,842
Other	597	555
Amortized Cost	104,580	115,080
Fair Value
Within 1 year		175
After 1 but within 5 years	1,997	7,001
After 5 but within 10 years	8,487	7,899
After 10 years	901	670
Total Maturities	11,385	15,745
Mortgage-backed securities	94,407	98,478
Other	575	609
Fair Value	$ 106,367	$ 114,832

Investment Securities (Narrativ

Investment Securities (Narrative) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)security	Dec. 31, 2019USD ($)
Investment Securities
Number of individual available-for-sale securities with unrealized losses | security	32
Unrealized Losses	$ 230	$ 861
Aggregate percentage of depreciation	0.80%
Available for sale securities pledged to secure Federal Home Loan Bank of New York ("FHLBNY") borrowings	$ 21,829	23,782
Available for sale securities pledged to secure Federal Reserve Bank of New York ("FRBNY") borrowings	556	$ 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	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	$ 893,140		$ 789,517	$ 757,098
Net deferred loan costs	7,918		9,908
Allowance for loan losses	(10,563)	$ (8,572)	(5,954)	(7,903)	$ (7,858)	$ (6,646)
Total net loans	890,495		793,471
Indirect automobile
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	372,863		360,569	354,394
Allowance for loan losses	(5,258)	(4,779)	(3,117)	(4,183)	(3,606)	(2,915)
Commercial real estate
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	284,862		268,640	245,704
Allowance for loan losses	(3,894)	(2,673)	(2,009)	(1,173)	(1,252)	(1,080)
Commercial real estate | Undisbursed construction loans
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	9,456		20,354
Commercial real estate | Non-residential
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	245,415		228,157
Commercial real estate | Multifamily
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	29,991		20,129
Residential Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	40,605		43,726	41,344
Allowance for loan losses	(129)	(125)	(99)	(256)	(305)	(320)
Commercial and industrial
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	170,663		90,554	88,187
Allowance for loan losses	(1,134)	(859)	(603)	(1,590)	(1,895)	(1,542)
Commercial and industrial | Small Business Administration Paycheck Protection Program
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	91,729
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	24,147		26,028	27,469
Allowance for loan losses	(148)	$ (136)	(126)	$ (701)	$ (800)	$ (789)
Consumer | Indirect automobile
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	372,863		360,569
Consumer | Home equity
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	14,961		16,276
Consumer | Other consumer
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	$ 9,186		$ 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	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	$ 893,140	$ 789,517	$ 757,098
Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	882,246	775,060
Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	3,871	4,882
Substandard
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	7,023	9,575
Indirect automobile
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	372,863	360,569	354,394
Commercial real estate
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	284,862	268,640	245,704
Commercial real estate | Undisbursed construction loans
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	9,456	20,354
Commercial real estate | Undisbursed construction loans | Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	9,456	20,354
Commercial real estate | Non-residential
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	245,415	228,157
Commercial real estate | Non-residential | Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	240,491	219,485
Commercial real estate | Non-residential | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	2,803	4,285
Commercial real estate | Non-residential | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	2,121	4,387
Commercial real estate | Multifamily
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	29,991	20,129
Commercial real estate | Multifamily | Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	29,991	19,744
Commercial real estate | Multifamily | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total gross loans		385
Residential Real Estate
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	40,605	43,726	41,344
Residential Real Estate | Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	37,921	41,385
Residential Real Estate | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	2,684	2,341
Commercial and industrial
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	170,663	90,554	88,187
Commercial and industrial | Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	168,838	88,874
Commercial and industrial | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	1,068	597
Commercial and industrial | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	757	1,083
Consumer
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	24,147	26,028	$ 27,469
Consumer | Indirect automobile
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	372,863	360,569
Consumer | Indirect automobile | Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	371,963	359,616
Consumer | Indirect automobile | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	900	953
Consumer | Home equity
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	14,961	16,276
Consumer | Home equity | Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	14,465	15,861
Consumer | Home equity | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	496	415
Consumer | Other consumer
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	9,186	9,752
Consumer | Other consumer | Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	9,121	9,741
Consumer | Other consumer | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	$ 65	$ 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	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	$ 879,590	$ 771,913
Total gross loans	893,140	789,517	$ 757,098
Nonaccrual	5,858	8,921
30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	6,656	7,961
60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	2,837	2,631
Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	4,057	7,012
Indirect automobile
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total gross loans	372,863	360,569	354,394
Commercial real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total gross loans	284,862	268,640	245,704
Commercial real estate | Undisbursed construction loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	9,456	20,354
Total gross loans	9,456	20,354
Commercial real estate | Non-residential
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	242,332	222,953
Total gross loans	245,415	228,157
Nonaccrual	1,291	3,911
Commercial real estate | Non-residential | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	212	409
Commercial real estate | Non-residential | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	1,580	884
Commercial real estate | Non-residential | Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	1,291	3,911
Commercial real estate | Multifamily
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	29,991	19,744
Total gross loans	29,991	20,129
Nonaccrual		385
Commercial real estate | Multifamily | Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due		385
Residential Real Estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	38,779	42,403
Total gross loans	40,605	43,726	41,344
Nonaccrual	2,684	2,341
Residential Real Estate | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	644	427
Residential Real Estate | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	0	116
Residential Real Estate | Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	1,182	780
Commercial and industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	170,152	89,401
Total gross loans	170,663	90,554	88,187
Nonaccrual	422	905
Commercial and industrial | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	285	288
Commercial and industrial | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due		198
Commercial and industrial | Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	226	667
Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total gross loans	24,147	26,028	$ 27,469
Consumer | Indirect automobile
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	365,445	351,840
Total gross loans	372,863	360,569
Nonaccrual	900	953
Consumer | Indirect automobile | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	5,473	6,494
Consumer | Indirect automobile | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	1,049	1,294
Consumer | Indirect automobile | Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	896	941
Consumer | Home equity
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	14,374	15,726
Total gross loans	14,961	16,276
Nonaccrual	496	415
Consumer | Home equity | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	4	142
Consumer | Home equity | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	185	91
Consumer | Home equity | Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	398	317
Consumer | Other consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	9,061	9,492
Total gross loans	9,186	9,752
Nonaccrual	65	11
Consumer | Other consumer | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	38	201
Consumer | Other consumer | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	23	48
Consumer | Other consumer | Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	$ 64	$ 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	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
With no related allowance recorded:
Recorded Investment	$ 5,062	$ 8,575
Unpaid Principal Balance	6,698	11,319
Average Recorded Investment	7,739	7,073
With an allowance recorded:
Recorded Investment	796	346
Unpaid Principal Balance	838	376
Related Allowance	230	107
Average Recorded Investment	555	262
Total:
Recorded Investment	5,858	8,921
Unpaid Principal Balance	7,536	11,695
Related Allowance	230	107
Average Recorded Investment	8,294	7,335
Commercial real estate | Non-residential
With no related allowance recorded:
Recorded Investment	1,291	3,911
Unpaid Principal Balance	2,206	5,733
Average Recorded Investment	3,579	3,209
Total:
Recorded Investment	1,291	3,911
Unpaid Principal Balance	2,206	5,733
Average Recorded Investment	3,579	3,209
Commercial real estate | Multifamily
With no related allowance recorded:
Recorded Investment		385
Unpaid Principal Balance		409
Average Recorded Investment	281	192
Total:
Recorded Investment		385
Unpaid Principal Balance		409
Average Recorded Investment	281	192
Residential Real Estate
With no related allowance recorded:
Recorded Investment	2,684	2,341
Unpaid Principal Balance	3,102	2,850
Average Recorded Investment	2,479	2,313
Total:
Recorded Investment	2,684	2,341
Unpaid Principal Balance	3,102	2,850
Average Recorded Investment	2,479	2,313
Commercial and industrial
With no related allowance recorded:
Recorded Investment	373	905
Unpaid Principal Balance	608	1,109
Average Recorded Investment	566	601
With an allowance recorded:
Recorded Investment	49
Unpaid Principal Balance	49
Related Allowance	24
Average Recorded Investment	25
Total:
Recorded Investment	422	905
Unpaid Principal Balance	657	1,109
Related Allowance	24
Average Recorded Investment	591	601
Consumer | Indirect automobile
With no related allowance recorded:
Recorded Investment	155	607
Unpaid Principal Balance	190	740
Average Recorded Investment	345	441
With an allowance recorded:
Recorded Investment	745	346
Unpaid Principal Balance	787	376
Related Allowance	204	107
Average Recorded Investment	529	262
Total:
Recorded Investment	900	953
Unpaid Principal Balance	977	1,116
Related Allowance	204	107
Average Recorded Investment	874	703
Consumer | Home equity
With no related allowance recorded:
Recorded Investment	496	415
Unpaid Principal Balance	529	467
Average Recorded Investment	466	307
Total:
Recorded Investment	496	415
Unpaid Principal Balance	529	467
Average Recorded Investment	466	307
Consumer | Other consumer
With no related allowance recorded:
Recorded Investment	63	11
Unpaid Principal Balance	63	11
Average Recorded Investment	23	10
With an allowance recorded:
Recorded Investment	2
Unpaid Principal Balance	2
Related Allowance	2
Average Recorded Investment	1
Total:
Recorded Investment	65	11
Unpaid Principal Balance	65	11
Related Allowance	2
Average Recorded Investment	$ 24	$ 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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Allowance for loan losses:
Beginning balance	$ 8,572	$ 7,858	$ 5,954	$ 6,646
Provision for loan losses	2,250	450	5,705	2,010
Loans charged-off	(590)	(604)	(1,836)	(1,550)
Recoveries	331	199	740	797
Ending balance	10,563	7,903	10,563	7,903
Allowance for loan losses:
Ending balance: Individually evaluated for impairment	230	124	230	124	$ 107
Ending balance: Collectively evaluated for impairment	10,333	7,779	10,333	7,779	5,847
Loan receivables:
Ending balance	893,140	757,098	893,140	757,098	789,517
Ending balance: Individually evaluated for impairment	5,858	8,773	5,858	8,773	8,921
Ending balance: Collectively evaluated for impairment	887,282	748,325	887,282	748,325	780,596
Indirect automobile
Allowance for loan losses:
Beginning balance	4,779	3,606	3,117	2,915
Provision for loan losses	653	898	3,114	1,930
Loans charged-off	(499)	(494)	(1,688)	(1,413)
Recoveries	325	173	715	751
Ending balance	5,258	4,183	5,258	4,183
Allowance for loan losses:
Ending balance: Individually evaluated for impairment	204	118	204	118	107
Ending balance: Collectively evaluated for impairment	5,054	4,065	5,054	4,065	3,010
Loan receivables:
Ending balance	372,863	354,394	372,863	354,394	360,569
Ending balance: Individually evaluated for impairment	900	673	900	673	953
Ending balance: Collectively evaluated for impairment	371,963	353,721	371,963	353,721	359,616
Commercial real estate
Allowance for loan losses:
Beginning balance	2,673	1,252	2,009	1,080
Provision for loan losses	1,217	(79)	1,881	93
Recoveries	4		4
Ending balance	3,894	1,173	3,894	1,173
Allowance for loan losses:
Ending balance: Collectively evaluated for impairment	3,894	1,173	3,894	1,173	2,009
Loan receivables:
Ending balance	284,862	245,704	284,862	245,704	268,640
Ending balance: Individually evaluated for impairment	1,291	4,238	1,291	4,238	4,296
Ending balance: Collectively evaluated for impairment	283,571	241,466	283,571	241,466	264,344
Residential Real Estate
Allowance for loan losses:
Beginning balance	125	305	99	320
Provision for loan losses	4	(49)	30	(67)
Recoveries				3
Ending balance	129	256	129	256
Allowance for loan losses:
Ending balance: Collectively evaluated for impairment	129	256	129	256	99
Loan receivables:
Ending balance	40,605	41,344	40,605	41,344	43,726
Ending balance: Individually evaluated for impairment	2,684	2,657	2,684	2,657	2,341
Ending balance: Collectively evaluated for impairment	37,921	38,687	37,921	38,687	41,385
Commercial and industrial
Allowance for loan losses:
Beginning balance	859	1,895	603	1,542
Provision for loan losses	366	(276)	651	89
Loans charged-off	(88)	(43)	(127)	(55)
Recoveries		14	7	14
Adjustments	(3)
Ending balance	1,134	1,590	1,134	1,590
Allowance for loan losses:
Ending balance: Individually evaluated for impairment	24		24
Ending balance: Collectively evaluated for impairment	1,110	1,590	1,110	1,590	603
Loan receivables:
Ending balance	170,663	88,187	170,663	88,187	90,554
Ending balance: Individually evaluated for impairment	422	674	422	674	905
Ending balance: Collectively evaluated for impairment	170,241	87,513	170,241	87,513	89,649
Consumer
Allowance for loan losses:
Beginning balance	136	800	126	789
Provision for loan losses	10	(44)	29	(35)
Loans charged-off	(3)	(67)	(21)	(82)
Recoveries	5	12	14	29
Ending balance	148	701	148	701
Allowance for loan losses:
Ending balance: Individually evaluated for impairment	2	6	2	6
Ending balance: Collectively evaluated for impairment	146	695	146	695	126
Loan receivables:
Ending balance	24,147	27,469	24,147	27,469	26,028
Ending balance: Individually evaluated for impairment	561	531	561	531	426
Ending balance: Collectively evaluated for impairment	23,586	$ 26,938	23,586	$ 26,938	25,602
Consumer | Indirect automobile
Loan receivables:
Ending balance	$ 372,863		$ 372,863		$ 360,569

Loans and Allowance for Loan _8

Loans and Allowance for Loan Losses (Narrative) (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020USD ($)loan	Dec. 31, 2019USD ($)loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amount of loan	$ 1,600	$ 1,659
Number of loans default | loan	3	3
Number of new loans default | loan	0	0
Balance of capitalized servicing rights	$ 2,319	$ 2,226
Aggregate balances of loans serviced to third party	289,538	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	$ 2,295	$ 2,684

Premises and Equipment (Schedul

Premises and Equipment (Schedule of premises and equipment) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Total	$ 42,980	$ 41,418
Less accumulated depreciation	(24,094)	(23,080)
Net	18,886	18,338
Land
Property, Plant and Equipment [Line Items]
Total	3,690	3,690
Buildings and improvements
Property, Plant and Equipment [Line Items]
Total	25,941	25,371
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Total	12,865	12,090
Construction in progress
Property, Plant and Equipment [Line Items]
Total	$ 484	$ 267

Goodwill (Narrative) (Details)

Goodwill (Narrative) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 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		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Finite-lived Intangible Assets [Roll Forward]
Beginning balance			$ 241	$ 284	$ 284
Amortization	$ (11)	$ (10)	(32)	$ (32)	(43)
Ending balance	209		209		241
Accumulated amortization and impairment	$ 738		$ 738		$ 706

Intangible Assets (Schedule o_2

Intangible Assets (Schedule of future amortization expense for amortizable intangible assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Intangible Assets
2020	$ 10
2021	42
2022	42
2023	42
2024	42
Thereafter	31
Total	$ 209	$ 241	$ 284

Intangible Assets (Narrative) (

Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 11	$ 10	$ 32	$ 32	$ 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	Sep. 30, 2020	Dec. 31, 2019
Deposits [Abstract]
Noninterest bearing demand deposits	$ 251,568	$ 179,236
Interest bearing accounts:
NOW	126,653	95,572
Savings	148,591	121,139
Money market	178,905	158,747
Time certificates of deposit	210,478	218,649
Total interest bearing accounts	664,627	594,107
Total deposits	$ 916,195	$ 773,343

Deposits (Schedule of contractu

Deposits (Schedule of contractual maturities of time certificates of deposit) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Deposits [Abstract]
Within 1 year	$ 135,144
1 - 2 years	50,548
2 - 3 years	8,332
3 - 4 years	7,625
4 - 5 years	8,829
Total	$ 210,478	$ 218,649

Deposits (Narrative) (Details)

Deposits (Narrative) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Deposits [Line Items]
Reciprocal deposits	$ 32,236	$ 21,270
Time certificates of deposit in denominations of $250 or greater	$ 36,286	$ 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	Sep. 30, 2020USD ($)
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Principal amount	$ 54,857
Rate	1.92%
Due in one year	$ 34,712
Long term	20,145
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	$ 3,809
Rate	2.53%
Due in one year	$ 3,809
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	$ 2,583
Rate	2.92%
Due in one year	$ 2,583
Long term	0
3 year amortizing on May 16, 2022
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Principal amount	$ 5,924
Rate	2.49%
Due in one year	$ 3,353
Long term	2,571
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	$ 12,541
Rate	1.32%
Due in one year	$ 4,967
Long term	$ 7,574

Long-Term Debt and FHLB Stock_3

Long-Term Debt and FHLB Stock (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended		12 Months Ended
	Jun. 30, 2020	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Long-Term Debt And Federal Home Loan Bank [Line Items]
Advances from Federal Home Loan Banks		$ 54,857		$ 66,304
Funding received		(2,223)	$ (13,954)
Zions Bank
Long-Term Debt And Federal Home Loan Bank [Line Items]
Line of credit, maximum borrowing capacity		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%
Percentage of Principal Funding		100.00%
Funding received	$ 70,100
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		2.26%		3.91%
Subordinated debt securities		$ 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
Federal Home Loan Bank of New York ("FHLBNY")
Long-Term Debt And Federal Home Loan Bank [Line Items]
Line of credit, maximum borrowing capacity		$ 556,202		$ 486,906
Amount of pledged assets		176,487		168,230
Advances from Federal Home Loan Banks		54,857
Impairment Related To Federal Home Loan Stock		$ 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	Sep. 30, 2020	Dec. 31, 2019
Employee Benefits
Projected and accumulated benefit obligation	$ (22,160)	$ (20,953)
Plan assets at fair value	21,835	20,628
Funded status included in accrued expenses and other liabilities	$ (325)	$ (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	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Employee Benefits
Interest cost	$ 502	$ 555
Expected return on plan assets	(1,691)	(705)
Amortization of unrecognized loss	1,266	328
Net periodic cost	$ 77	$ 178

Employee Benefits (Schedule o_3

Employee Benefits (Schedule of fair value of pension plan assets, by fair value hierarchy) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	$ 21,835	$ 20,628
Defined Benefit Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	21,835	20,628
Defined Benefit Pension Plan | Investment in separate accounts fixed income
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	16,423	15,372
Defined Benefit Pension Plan | Investment in separate accounts equity
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	5,412	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	21,835	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	16,423	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	$ 5,412	$ 5,256

Employee Benefits (Various Bene

Employee Benefits (Various Benefits - Narrative) (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)fund	Sep. 30, 2019USD ($)	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	$ 17,150		$ 17,150		$ 11,156
Noninterest expense	7,432	$ 6,832	21,496	$ 20,798
Employer contribution in defined contribution plan			732	643
Postretirement Life Insurance [Member]
Schedule Of Employee Benefits [Line Items]
Liability related to these postretirement benefits	1,373		1,373		1,330
Postemployment benefit expense			43	40
Postemployment Retirement Benefits [Member]
Schedule Of Employee Benefits [Line Items]
Noninterest expense			65	67
Liability related to these postretirement benefits	2,140		2,140		2,123
Officer [Member] | Deferred Compensation, Share-based Payments [Member]
Schedule Of Employee Benefits [Line Items]
Accrued expenses and other liabilities	1,214		1,214		1,163
Noninterest expense			419	405
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	$ 2,221		2,221		$ 2,086
Noninterest expense			$ 131	$ 91
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	Sep. 30, 2020	Sep. 30, 2019
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Number of share purchase under ESOP			436,425
Committed to be allocated			16,362
Compensation expense			$ 129
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			$ 2,517
Compensation expense			$ 129	$ 185

Employee Benefits (Schedule o_4

Employee Benefits (Schedule of employee stock ownership plan) (Details)	Sep. 30, 2020shares
Employee Benefits
Allocated	21,821
Committed to be allocated	16,362
Unallocated	398,242
Total shares	436,425

Employee Benefits (Share-Based

Employee Benefits (Share-Based Compensation Plan Narrative) (Details) - USD ($)	May 26, 2020	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense		$ 61,000
2020 EIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized	763,743
Vesting period	3 years
Maximum term	10 years
2020 EIP | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized	545,531
Percentage of shares of common stock issued	4.90%
Available for future grants		112,146
Closing stock price		$ 6.32
Aggregate grant date fair value of options		$ 723,000
2020 EIP | Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized	218,212
Percentage of shares of common stock issued	1.96%
Available for future grants		48,443
Aggregate grant date fair value		$ 1,115,000

Employee Benefits (Schedule o_5

Employee Benefits (Schedule of assumptions used and fair value for options granted) (Details) - 2020 EIP - Stock options	9 Months Ended
	Sep. 30, 2020$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	6 years
Expected dividend yield	0.00%
Expected volatility	25.70%
Risk-free interest rate	0.28%
Fair value of options granted	$ 1.67

Employee Benefits (Summary of o

Employee Benefits (Summary of options) (Details) - 2020 EIP - Stock options - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Shares
Options granted	433,385
Options outstanding at September 30, 2020	433,385
Weighted - Average Exercise Price
Granted	$ 6.57
End of year	$ 6.57
Weighted-Average Contractual Term
Weighted-Average Contractual Term, Outstanding	6 years	0 years
Weighted-Average Contractual Term, Granted	6 years
Weighted-Average Contractual Term, Exercisable	0 years

Employee Benefits (Summary of C

Employee Benefits (Summary of Company’s restricted stock activity) (Details) - Restricted stock	9 Months Ended
	Sep. 30, 2020$ / sharesshares
Number of shares
Granted (in shares) | shares	169,769
Balance at end of period (in shares) | shares	169,769
Weighted-Average Grant Date Fair Value
Granted (in dollars per share) | $ / shares	$ 6.57
Balance at end of period (in dollars per share) | $ / shares	$ 6.57

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)item	Dec. 31, 2019USD ($)
Leases
Number of leased branch offices | item	7
Weighted average remaining life of the lease terms	12 years 10 months 24 days
Weighted average discount rate	2.61%
Operating lease costs	$ 441
Deferred rent liability	185	$ 213
Operating lease right-of-use asset	$ 6,407
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other Assets
Operating lease liability	$ 6,407
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	Sep. 30, 2020USD ($)
Lessee, Lease, Description [Line Items]
Present Value of Net Future Minimum Lease Payments	$ 6,407
Building [Member]
Lessee, Lease, Description [Line Items]
2020	159
2021	637
2022	593
2023	570
2024	566
Thereafter	5,086
Total future minimum lease payments	7,611
Amounts representing interest	(1,204)
Present Value of Net Future Minimum Lease Payments	$ 6,407

Commitments and Contingencies_2

Commitments and Contingencies (Schedule of contract amounts represent off-balance sheet credit risk) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Asset	$ 99,807	$ 94,884
Future loan commitments
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Asset	14,189	9,881
Undisbursed construction loans
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Asset	4,675	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	10,546	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	64,716	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	$ 5,681	$ 5,290

Regulatory Matters (Schedule of

Regulatory Matters (Schedule of actual capital amounts and ratios) (Details) - Rhinebeck Bank - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total capital (to risk-weighted assets) Actual Amount	$ 118,861	$ 109,799
Total capital (to risk-weighted assets) Actual Ratio	13.60%	12.83%
Total capital (to risk-weighted assets) For Capital Adequacy Purposes Amount	$ 69,936	$ 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	$ 87,420	$ 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	$ 108,298	$ 103,845
Tier 1 capital (to risk-weighted assets) Actual Ratio	12.39%	12.13%
Tier 1 capital (to risk-weighted assets) For Capital Adequacy Purposes Amount	$ 52,452	$ 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	$ 69,936	$ 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	$ 108,298	$ 103,845
Common equity tier one capital (to risk weighted assets) Actual Ratio	12.39%	12.13%
Common equity tier one capital (to risk weighted assets) For Capital Adequacy Purposes Amount	$ 39,339	$ 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	$ 56,823	$ 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	$ 108,298	$ 103,845
Tier 1 capital (to average assets) Actual Ratio	9.67%	10.84%
Tier 1 capital (to average assets) For Capital Adequacy Purposes Amount	$ 44,815	$ 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	$ 56,018	$ 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	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 106,367	$ 114,832
U.S. government agency mortgage-backed securities-residential
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	94,407	98,478
U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	7,181	12,076
Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	1,206	1,396
Corporate Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	2,998	2,273
Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	575	609
Significant Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	106,207	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	94,407	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	7,181	12,076
Significant Observable Inputs (Level 2) | Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	1,046	1,216
Significant Observable Inputs (Level 2) | Corporate Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	2,998	2,273
Significant Observable Inputs (Level 2) | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	575	609
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	160	180
Significant Unobservable Inputs (Level 3) | Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 160	$ 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	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held at fair value	$ 1,693	$ 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	566
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	1,127	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	1,693	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	566
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	566	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	$ 1,127	$ 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		9 Months Ended	12 Months Ended
		Sep. 30, 2020USD ($)	Dec. 31, 2019USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets held at fair value		$ 1,693	$ 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		1,127	1,417
Significant Unobservable Inputs (Level 3)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets held at fair value		$ 1,693	$ 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		$ 566	$ 239
Significant Unobservable Inputs (Level 3) | Other real estate owned
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets held at fair value		$ 1,127	$ 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	Sep. 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)	$ 51,581	$ 11,978
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value.
Financial Assets:
Cash and due from banks (Level 1)	51,581	11,978
Significant Observable Inputs (Level 2) | Carrying Value
Financial Assets:
Available for sale securities (Level 2)	106,367	114,832
FHLB stock (Level 2)	2,975	3,435
Accrued interest receivable (Level 2)	3,897	2,903
Financial Liabilities:
Deposits (Level 2)	916,195	773,343
Mortgagors escrow accounts (Level 2)	4,031	8,106
FHLB advances (Level 2)	54,857	66,304
Subordinated debt (Level 2)	5,155	5,155
Significant Observable Inputs (Level 2) | Fair Value.
Financial Assets:
Available for sale securities (Level 2)	106,367	114,832
FHLB stock (Level 2)	2,975	3,435
Accrued interest receivable (Level 2)	3,897	2,903
Financial Liabilities:
Deposits (Level 2)	938,060	762,272
Mortgagors escrow accounts (Level 2)	4,037	8,107
FHLB advances (Level 2)	55,862	66,724
Subordinated debt (Level 2)	5,155	5,155
Significant Unobservable Inputs (Level 3) | Carrying Value
Financial Assets:
Loans, net (Level 3)	890,495	793,471
Mortgage servicing rights (Level 3)	2,319	2,226
Significant Unobservable Inputs (Level 3) | Fair Value.
Financial Assets:
Loans, net (Level 3)	901,219	796,262
Mortgage servicing rights (Level 3)	$ 3,431	$ 4,137

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Schedule of accumulated other comprehensive loss activity) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance		$ 113,680	$ 105,683	$ 109,882	$ 59,277
Balance		115,190	108,255	$ 115,190	$ 108,255
Income tax rate				21.00%	21.00%
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	[1]	(2,821)	(4,355)	$ (4,104)	$ (7,012)
Other comprehensive (loss) gain before reclassifications	[1]	206	351	1,353	2,835
Amounts reclassified from accumulated other comprehensive loss	[1]	56	71	192	244
Period change	[1]	262	422	1,545	3,079
Balance	[1]	(2,559)	(3,933)	(2,559)	(3,933)
AOCL Defined Benefit Pension Plan
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	[1]	(4,663)	(4,343)	(3,909)	(4,436)
Other comprehensive (loss) gain before reclassifications	[1]	637	(24)	(230)	(72)
Amounts reclassified from accumulated other comprehensive loss	[1]	56	71	169	212
Period change	[1]	693	47	(61)	140
Balance	[1]	(3,970)	(4,296)	(3,970)	(4,296)
AOCL Unrealized gains (losses) on available for sale securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	[1]	1,842	(12)	(195)	(2,576)
Other comprehensive (loss) gain before reclassifications	[1]	(431)	375	1,583	2,907
Amounts reclassified from accumulated other comprehensive loss	[1]			23	32
Period change	[1]	(431)	375	1,606	2,939
Balance	[1]	$ 1,411	$ 363	$ 1,411	$ 363
[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						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income applicable to common stock	$ 1,150	$ 1,348	$ 1,075	$ 2,091	$ 1,221	$ 911	$ 3,573	$ 4,223
Average number of common shares outstanding	11,133,290			11,133,290			11,133,290	11,133,290
Less: Average unearned ESOP shares	400,969			422,790			406,423	428,244
Average number of common shares outstanding used to calculate basic and diluted earnings per common share	10,732,321			10,710,500			10,726,867	10,705,046
Earnings per Common share:
Basic (in dollars per share)	$ 0.10			$ 0.20			$ 0.33	$ 0.39
Diluted (in dollars per share)	$ 0.10			$ 0.20			$ 0.33	$ 0.39
Potentially dilutive common stock equivalents				0				0
2020 EIP | Stock options
Earnings per Common share:
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	433,385						433,385
Nonvested options outstanding at an average weighted price (in dollars per share)	$ 6.57						$ 6.57
2020 EIP | Restricted stock
Earnings per Common share:
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	169,769						169,769
Nonvested restricted stock outstanding at an average weighted price (in dollars per share)	$ 6.57						$ 6.57