Rhinebeck Bancorp (RBKB) 10-Q 13 May 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2021	May 01, 2021
Cover [Abstract]
Document Type	10-Q
Document Period End Date	Mar. 31, 2021
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	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Assets
Cash and due from banks	$ 89,833	$ 93,485
Available for sale securities (at fair value)	175,460	102,933
Loans receivable (net of allowance for loan losses of $11,261 and $11,633, respectively)	868,737	873,813
Federal Home Loan Bank stock	2,143	2,787
Accrued interest receivable	3,840	3,819
Cash surrender value of life insurance	18,631	18,877
Deferred tax assets (net of valuation allowance of $1,821 and $1,760, respectively)	4,122	3,703
Premises and equipment, net	18,933	18,839
Other real estate owned	89	139
Goodwill	2,235	1,410
Intangible assets, net	515	199
Other assets	12,500	8,825
Total assets	1,197,038	1,128,829
Deposits
Noninterest bearing	272,617	244,344
Interest bearing	735,419	685,020
Total deposits	1,008,036	929,364
Mortgagors’ escrow accounts	7,280	8,494
Advances from the Federal Home Loan Bank	36,468	50,674
Subordinated debt	5,155	5,155
Accrued expenses and other liabilities	21,243	18,643
Total liabilities	1,078,182	1,012,330
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	46,188	46,038
Unearned common stock held by the employee stock ownership plan ("ESOP")	(3,873)	(3,928)
Retained earnings	81,390	78,069
Accumulated other comprehensive loss:
Net unrealized (loss) gain on available for sale securities, net of taxes	(177)	993
Defined benefit pension plan, net of taxes	(4,783)	(4,784)
Total accumulated other comprehensive loss	(4,960)	(3,791)
Total stockholders' equity	118,856	116,499
Total liabilities and stockholders' equity	$ 1,197,038	$ 1,128,829

Consolidated Statements of Fi_2

Consolidated Statements of Financial Condition (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Allowance for loan losses on loans receivable	$ 11,261	$ 11,633
Deferred tax valuation allowance	$ 1,821	$ 1,760
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
	Mar. 31, 2021	Mar. 31, 2020
Interest and Dividend Income
Interest and fees on loans	$ 10,670	$ 10,046
Interest and dividends on securities	363	683
Other income	19	11
Total interest and dividend income	11,052	10,740
Interest Expense
Interest expense on deposits	1,020	2,017
Interest expense on borrowings	250	402
Total interest expense	1,270	2,419
Net interest income	9,782	8,321
(Credit to) provision for loan losses	(69)	1,200
Net interest income after (credit to) provision for loan losses	9,851	7,121
Noninterest Income
Service charges on deposit accounts	609	652
Net realized loss on sales and calls of securities		(29)
Net gain on sales of loans	1,059	465
Increase in cash surrender value of life insurance	94	97
Gain on disposal of premises and equipment	17
Gain on life insurance	195
Investment advisory income	217	312
Other	50	63
Total noninterest income	2,241	1,560
Noninterest Expense
Salaries and employee benefits	4,592	4,152
Occupancy	954	850
Data processing	395	354
Professional fees	408	322
Marketing	88	143
FDIC deposit insurance and other insurance	171	168
Other real estate owned expense	1	17
Amortization of intangible assets	13	11
Other	1,331	1,282
Total noninterest expense	7,953	7,299
Income before income taxes	4,139	1,382
Provision for income taxes	818	307
Net income	$ 3,321	$ 1,075
Earnings per common share:
Basic (in dollars per share)	$ 0.31	$ 0.10
Diluted (in dollars per share)	$ 0.31	$ 0.10
Weighted average shares outstanding, basic	10,743,234	10,721,413
Weighted average shares outstanding, diluted	10,875,116	10,721,413

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net Income		$ 3,321	$ 1,075
Other Comprehensive Income:
Unrealized holding (losses) gains arising during the period		(1,481)	3,272
Reclassification adjustment for losses included in net realized loss on sales and calls of securities on the consolidated statements of income			29
Net unrealized (losses) gains on available for sale securities		(1,481)	3,301
Tax effect	[1]	311	(694)
Unrealized (losses) gains on available for sale securities, net of tax		(1,170)	2,607
Defined benefit pension plan:
Actuarial (losses) gains arising during the period		(89)	280
Reclassification adjustment for amortization of net actuarial losses	[2]	90	71
Total		1	351
Tax effect	[3]		(73)
Defined benefit pension plan gains, net of tax		1	278
Other comprehensive (loss) income		(1,169)	2,885
Total Comprehensive Income		$ 2,152	$ 3,960
[1]	Includes $0 and $6 for the three months ended March 31, 2021 and 2020, 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 $19 and $15 for the three months ended March 31, 2021, 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
		Mar. 31, 2021	Mar. 31, 2020
Available-for-sale Securities, gross realized losses	[1]	$ (311)	$ 694
Amortization of net actuarial loss	[2]		(73)
Related income tax expense
Available-for-sale Securities, gross realized losses		0	6
Amortization of net actuarial loss		$ 19	$ 15
[1]	Includes $0 and $6 for the three months ended March 31, 2021 and 2020, respectively, for tax effect of realized losses which are included in the provision for income taxes on the consolidated statements of income.
[2]	Includes $19 and $15 for the three months ended March 31, 2021, 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, 2019	$ 111	$ 45,869	$ (4,146)	$ 72,152	$ (4,104)	$ 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, 2020	111	46,038	(3,928)	78,069	(3,791)	116,499
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				3,321		3,321
Other comprehensive income (loss)					(1,169)	(1,169)
ESOP shares committed to be allocated		(3)	55			52
Share-based compensation expense		153				153
Balance at Mar. 31, 2021	$ 111	$ 46,188	$ (3,873)	$ 81,390	$ (4,960)	$ 118,856

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Cash Flows from Operating Activities
Net income	$ 3,321	$ 1,075
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization and accretion of premiums and discounts on investments, net	26	110
Net realized loss on sales and calls of securities		29
(Credit to) provision for loan losses	(69)	1,200
Loans originated for sale	(24,437)	(15,335)
Proceeds from sale of loans	25,788	16,850
Net gain on sale of loans	(1,059)	(254)
Amortization of intangible assets	13	11	$ 11
Depreciation and amortization	321	328
Gain from disposal of premises and equipment	(17)
Deferred income tax benefit	(109)	(53)
Increase in cash surrender value of insurance	(95)	(97)
Increase in accrued interest receivable	(21)	(199)
Expense of earned ESOP shares	52	55
Share-based compensation expense	153
Increase in other assets	(3,665)	(6,008)
Increase in accrued expenses and other liabilities	2,421	6,047
Net cash provided by operating activities	2,623	3,759
Cash Flows from Investing Activities
Proceeds from sales and calls of securities	2,000	6,996
Proceeds from maturities and principal repayments of securities	12,390	6,009
Purchases of securities	(88,424)	(10,146)
Net sales (purchases) of FHLB Stock	644	(600)
Net decrease (increase) in loans	4,853	(19,351)
Purchases of bank premises and equipment	(285)	(493)
Net proceeds from life insurance	341
Net cash received on acquisition (Note 2)	32,767
Net increase of other real estate owned		(16)
Proceeds from sale of other real estate owned	50	51
Net cash used in investing activities	(35,664)	(17,550)
Cash Flows from Financing Activities
Net increase (decrease) in demand deposits, NOW, money market and savings accounts	53,343	(629)
Net (decrease) increase in time deposits	(8,534)	11,941
Decrease in mortgagors' escrow accounts	(1,214)	(1,043)
Net (decrease) increase in short-term debt	(12,093)	2,861
Net (decrease) increase in long-term debt	(2,113)	10,479
Net cash provided by financing activities	29,389	23,609
Net (decrease) increase in cash and due from banks	(3,652)	9,818
Cash and Due from Banks
Beginning balance	93,485	11,978	11,978
Ending balance	89,833	21,796	$ 93,485
Supplemental Disclosures of Cash Flow Information
Cash paid for interest	1,275	2,445
Cash (benefit) paid for income taxes	(3)	$ 3
Noncash Investing Activities
Fair value of assets acquired	1,277
Fair value of liabilities assumed	$ (34,044)

Nature of Business and Signific

Nature of Business and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
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 thirteen active 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 months ended March 31, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021 or for any other period. The unaudited financial statements and other financial information contained in this Quarterly Report on Form 10‑Q should be read in conjunction with the audited financial statements, and related notes, of Rhinebeck Bancorp, Inc. and Rhinebeck Bank at and for the year ended December 31, 2020 contained in the Company’s Annual Report on Form 10‑K 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 Annual Report on Form 10‑K with the exception of the addition of the derivative financial instruments. 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. On March 12, 2021, the Company completed a branch purchase and assumption transaction with ConnectOne Bancorp, Inc. Management concluded that the acquisition represented a business combination, which is accounted for using the acquisition method, with the results of operations included in the Company’s consolidated financial statements as of the acquisition date. For additional information, see Note 2. Reclassifications Certain amounts in the prior year consolidated financial statements have been reclassified to conform to the current year’s presentation. COVID-19 Significant progress has been made to combat the outbreak of COVID-19; however, the global pandemic has adversely impacted a broad range of industries in which the Company's customers operate and could still impair their ability to fulfill their financial obligations to the Company. The Company’s business is dependent upon the willingness and ability of its employees and customers to conduct banking and other financial transactions. If there is a resurgence in the virus, the Company could experience further adverse effects on its business, financial condition, results of operations and cash flows. It is not possible to know the full extent of the impact of COVID-19 and the effects it will have on the Company's future operations . Impact of Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“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. The Company is currently assessing the effect of ASU No. 2016‑13 and has engaged with a software vendor to assist in its efforts. 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 is taking 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.

Acquisition

Acquisition	3 Months Ended
	Mar. 31, 2021
Acquisition
Acquisition	2. Acquisition On October 26, 2020, the Bank entered into a branch purchase and assumption agreement with ConnectOne Bank, the wholly-owned subsidiary of ConnectOne Bancorp, Inc., to acquire two branches located in Orange County, New York, as well as certain deposits and other assets and liabilities. The transaction closed on March 12, 2021 with the transfer of $33,863 of deposits. Management concluded that the acquisition represented a business combination, which is accounted for using the acquisition method, with the results of operations included in the Company’s consolidated financial statements as of the acquisition date. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed in the March 12, 2021 transaction with ConnectOne, and reflects all adjustments made to the fair value of the opening balance sheet through March 31, 2021: March 12, Fair value of consideration transferred, assets acquired and liabilities assumed 2021 Total cash received on acquisition $ 32,767 Assets acquired Fixed assets 113 Reimbursed expenses 9 Core deposit intangible (1) 330 Total assets acquired 452 Liabilities assumed Deposits 33,863 Mark-to-market adjustment 181 Total liabilities assumed 34,044 Net liabilities acquired (33,592) Goodwill recognized $ 825 ______________________________________ (1) The core deposit intangible was determined to have an estimated life of approximately 13 years. The Company incurred $71 in expenses related to the acquisition during the three months ended March 31, 2021. Acquisition expenses, including professional fees, are included in the total noninterest expense line item in the condensed consolidated statement of income.

Investment Securities

Investment Securities	3 Months Ended
	Mar. 31, 2021
Investment Securities
Investment Securities	3. Investment Securities The amortized cost, gross unrealized gains and losses and fair values of available for sale securities are as follows: March 31, 2021 Gross Gross Unrealized Unrealized Amortized Cost Gains Losses Fair Value U.S. Treasury securities $ 45,587 $ — $ (288) $ 45,299 U.S. government agency mortgage-backed securities–residential 112,061 1,095 (1,062) 112,094 U.S. government agency securities 6,009 126 (27) 6,108 Municipal securities (1) 5,507 20 (47) 5,480 Corporate bonds 5,900 44 (44) 5,900 Other 620 — (41) 579 Total $ 175,684 $ 1,285 $ (1,509) $ 175,460 December 31, 2020 Gross Gross Unrealized Unrealized Amortized Cost Gains Losses Fair Value U.S. government agency mortgage-backed securities–residential $ 88,197 $ 1,350 $ (277) $ 89,270 U.S. government agency securities 7,013 148 — 7,161 Municipal securities (1) 1,445 31 — 1,476 Corporate bonds 4,400 49 (3) 4,446 Other 621 — (41) 580 Total $ 101,676 $ 1,578 $ (321) $ 102,933 ( 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: March 31, 2021 Less Than 12 Months 12 Months or Longer Total Unrealized Unrealized Unrealized Fair Value Losses Fair Value Losses Fair Value Losses U.S. Treasury securities $ 45,299 $ (288) $ — $ — $ 45,299 $ (288) U.S. government agency mortgage-backed securities-residential 58,700 (1,059) 115 (3) 58,815 (1,062) U.S. government agency securities 971 (27) — — 971 (27) Municipal Securities 4,172 (47) — — 4,172 (47) Corporate Bonds 3,606 (44) — — 3,606 (44) Other 522 (41) — — 522 (41) Total $ 113,270 $ (1,506) $ 115 $ (3) $ 113,385 $ (1,509) December 31, 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 $ 30,243 $ (269) $ 293 $ (8) $ 30,536 $ (277) Corporate Bonds 747 (3) — — 747 (3) Other 522 (41) — — 522 (41) Total $ 31,512 $ (313) $ 293 $ (8) $ 31,805 $ (321) At March 31, 2021, the Company had 89 individual available-for-sale securities in an unrealized loss position with unrealized losses totaling $1,509 with an aggregate depreciation of 1.33% 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 March 31, 2021. The amortized cost and fair value of available for sale debt securities at March 31, 2021 and December 31, 2020, 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: March 31, 2021 December 31, 2020 Amortized Cost Fair Value Amortized Cost Fair Value Maturity: Within 1 year $ 10,216 $ 10,210 $ 102 $ 102 After 1 but within 5 years 34,511 34,367 2,155 2,155 After 5 but within 10 years 16,871 16,807 9,946 10,162 After 10 years 1,405 1,403 655 664 Total Maturities 63,003 62,787 12,858 13,083 Mortgage-backed securities 112,061 112,094 88,197 89,270 Other 620 579 621 580 Total $ 175,684 $ 175,460 $ 101,676 $ 102,933 At March 31, 2021 and December 31, 2020, available for sale securities with a carrying value of $15,517 and $18,123, respectively, were pledged to secure Federal Home Loan Bank of New York (“FHLB”) borrowings. In addition, at March 31, 2021 and December 31, 2020, $9,646 and $1,059 of available for sale securities were pledged to secure borrowings at the Federal Reserve Bank of New York (“FRB”), respectively. During the three months ended March 31, 2021, there was $2,000 in proceeds from the sales of available for sale securities with no gross gains or losses realized.

Loans and Allowance for Loan Lo

Loans and Allowance for Loan Losses	3 Months Ended
	Mar. 31, 2021
Loans and Allowance for Loan Losses
Loans and Allowance for Loan Losses	4. Loans and Allowance for Loan Losses A summary of the Company’s loan portfolio is as follows: March 31, December 31, 2021 2020 Commercial real estate loans: Construction $ 5,433 $ 5,392 Non-residential 240,848 248,349 Multi-family 39,420 30,379 Residential real estate loans 37,477 39,239 Commercial and industrial loans (1) 161,908 154,016 Consumer loans: Indirect automobile 365,741 376,260 Home equity 13,435 14,165 Other consumer 8,447 8,816 Total gross loans 872,709 876,616 Net deferred loan costs 7,289 8,830 Allowance for loan losses (11,261) (11,633) Total net loans $ 868,737 $ 873,813 (1) Includes $92,080 and $75,366 in U.S. Small Business Administration (“SBA”), paycheck protection program (“PPP”) loans at March 31, 2021 and December 31, 2020, respectively. At March 31, 2021 and December 31, 2020, the unpaid principal balances of loans held for sale, included in the residential real estate category above, were $2,426 and $2,718, 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: March 31, 2021 Pass Special Mention Substandard Total Commercial real estate: Construction $ 5,433 $ — $ — $ 5,433 Non-residential 232,817 5,950 2,081 240,848 Multifamily 39,420 — — 39,420 Residential real estate 34,893 — 2,584 37,477 Commercial and industrial 155,752 5,129 1,027 161,908 Consumer: Indirect automobile 365,329 — 412 365,741 Home equity 13,000 — 435 13,435 Other consumer 8,387 — 60 8,447 Total $ 855,031 $ 11,079 $ 6,599 $ 872,709 December 31, 2020 Pass Special Mention Substandard Total Commercial real estate: Construction $ 5,392 $ — $ — $ 5,392 Non-residential 240,778 5,468 2,103 248,349 Multifamily 30,379 — — 30,379 Residential real estate 36,597 — 2,642 39,239 Commercial and industrial 147,748 5,395 873 154,016 Consumer: Indirect automobile 375,270 — 990 376,260 Home equity 13,819 — 346 14,165 Other consumer 8,768 — 48 8,816 Total $ 858,751 $ 10,863 $ 7,002 $ 876,616 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: March 31, 2021 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 $ 5,433 $ — $ — $ — $ 5,433 $ — Non-residential 237,088 1,477 357 1,926 240,848 1,926 Multifamily 39,420 — — — 39,420 — Residential real estate 35,472 757 100 1,148 37,477 2,584 Commercial and industrial 161,205 1 1 701 161,908 870 Consumer: Indirect automobile 360,962 3,810 600 369 365,741 412 Home equity 12,920 — 178 337 13,435 435 Other consumer 8,330 45 12 60 8,447 60 Total $ 860,830 $ 6,090 $ 1,248 $ 4,541 $ 872,709 $ 6,287 December 31, 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 $ 5,392 $ — $ — $ — $ 5,392 $ — Non-residential 244,387 1,985 33 1,944 248,349 1,944 Multifamily 30,379 — — — 30,379 — Residential real estate 36,581 1,351 138 1,169 39,239 2,641 Commercial and industrial 151,771 1,551 511 183 154,016 366 Consumer: Indirect automobile 367,929 6,321 1,063 947 376,260 990 Home equity 13,506 310 101 248 14,165 346 Other consumer 8,663 98 7 48 8,816 48 Total $ 858,608 $ 11,616 $ 1,853 $ 4,539 $ 876,616 $ 6,335 The following tables summarize information in regard to impaired loans by loan portfolio class: March 31, 2021 Recorded Unpaid Principal Related Average Recorded Investment Balance Allowance Investment With no related allowance recorded: Commercial real estate: Non-residential $ 1,926 $ 2,963 $ — $ 2,569 Multifamily — — — 92 Residential real estate 2,584 3,064 — 2,616 Commercial and industrial 563 847 — 441 Consumer: Indirect automobile 159 211 — 247 Home equity 435 441 — 452 Other consumer 60 60 — 35 Total $ 5,727 $ 7,586 $ — $ 6,452 With an allowance recorded: Commercial and industrial $ 307 $ 307 $ 296 $ 30 Consumer: Indirect automobile 253 261 74 591 Other consumer — — — 13 Total $ 560 $ 568 $ 370 $ 634 Total: Commercial real estate: Non-residential $ 1,926 $ 2,963 $ — $ 2,569 Multifamily — — — 92 Residential real estate 2,584 3,064 — 2,616 Commercial and industrial 870 1,154 296 471 Consumer: Indirect automobile 412 472 74 838 Home equity 435 441 — 452 Other consumer 60 60 — 48 Total $ 6,287 $ 8,154 $ 370 $ 7,086 December 31, 2020 Recorded Unpaid Principal Related Average Recorded Investment Balance Allowance Investment With no related allowance recorded: Commercial real estate: Non-residential $ 1,944 $ 2,973 $ — $ 3,086 Multifamily — — — 184 Residential real estate 2,641 3,086 — 2,554 Commercial and industrial 345 586 — 426 Consumer: Indirect automobile 397 467 — 293 Home equity 346 351 — 449 Other consumer — — — 21 Total $ 5,673 $ 7,463 $ — $ 7,013 With an allowance recorded: Commercial real estate: Commercial and industrial $ 21 $ 21 $ 11 $ 30 Consumer: Indirect automobile 593 613 135 591 Other consumer 48 49 7 13 Total $ 662 $ 683 $ 153 $ 634 Total: Commercial real estate: Non-residential $ 1,944 $ 2,973 $ — $ 3,086 Multifamily — — — 184 Residential real estate 2,641 3,086 — 2,554 Commercial and industrial 366 607 11 456 Consumer: Indirect automobile 990 1,080 135 884 Home equity 346 351 — 449 Other consumer 48 49 7 34 Total $ 6,335 $ 8,146 $ 153 $ 7,647 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 March 31, 2021 and December 31, 2020, the same three loans totaling $1,534 and $1,571, included in impaired loans, were identified as TDRs. There were no new TDRs in 2020 or the first three months of 2021. At March 31, 2021 and December 31, 2020, all TDR loans were performing in accordance with their restructured terms. At March 31, 2021 and December 31, 2020, 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 $309,851 and $300,700 as of March 31, 2021 and December 31, 2020, respectively. The balance of capitalized servicing rights, included in other assets at March 31, 2021 and December 31, 2020, were $2,518 and $2,390, respectively. Fair value exceeds carrying value. No impairment charges related to servicing rights were recognized during the period ended March 31, 2021 or the year ended December 31, 2020. 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 Residential Commercial Real Estate Real Estate and Industrial Indirect Consumer Totals Three months ended March 31, 2021 Allowance for loan losses: Beginning balance $ 5,354 $ 117 $ 1,050 $ 4,974 $ 138 $ 11,633 (Credit to) provision for loan losses (1,192) 11 269 857 (14) (69) Loans charged-off — — — (626) (3) (629) Recoveries — 3 — 307 16 326 Ending balance $ 4,162 $ 131 $ 1,319 $ 5,512 $ 137 $ 11,261 Ending balance: Loans deemed impaired $ — $ — $ 296 $ 74 $ — $ 370 Loans not deemed impaired $ 4,162 $ 131 $ 1,023 $ 5,438 $ 137 $ 10,891 Loan receivables: Ending balance $ 285,701 $ 37,477 $ 161,908 $ 365,741 $ 21,882 $ 872,709 Ending balance: Loans deemed impaired $ 1,926 $ 2,584 $ 870 $ 412 $ 495 $ 6,287 Loans not deemed impaired $ 283,775 $ 34,893 $ 161,038 $ 365,329 $ 21,387 $ 866,422 Commercial Residential Commercial Real Estate Real Estate and Industrial Indirect Consumer Totals Three months ended March 31, 2020 Allowance for loan losses: Beginning balance $ 2,009 $ 99 $ 603 $ 3,117 $ 126 $ 5,954 Provision for loan losses 144 — 31 1,012 13 1,200 Loans charged-off — — (38) (711) (15) (764) Recoveries — — 5 220 5 230 Ending balance $ 2,153 $ 99 $ 601 $ 3,638 $ 129 $ 6,620 Ending balance: Individually evaluated for impairment $ — $ — $ — $ 65 $ — $ 65 Collectively evaluated for impairment $ 2,153 $ 99 $ 601 $ 3,573 $ 129 $ 6,555 Commercial Residential Commercial Real Estate Real Estate and Industrial Indirect Consumer Totals Year ended December 31, 2020 Allowance for loan losses: Ending balance: Loans deemed impaired $ — $ — $ 11 $ 135 $ 7 $ 153 Loans not deemed impaired $ 5,354 $ 117 $ 1,039 $ 4,839 $ 131 $ 11,480 Loan receivables: Ending balance $ 284,120 $ 39,239 $ 154,016 $ 376,260 $ 22,981 $ 876,616 Ending balance: Loans deemed impaired $ 1,944 $ 2,641 $ 366 $ 990 $ 394 $ 6,335 Loans not deemed impaired $ 282,176 $ 36,598 $ 153,650 $ 375,270 $ 22,587 $ 870,281 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.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets
Goodwill and Intangible Assets	5. Goodwill and Intangible Assets The changes in the carrying value of goodwill are as follows: Three Months Ended March 31, 2021 2020 Beginning balance $ 1,410 $ 1,410 Acquisition activity 825 — Ending balance $ 2,235 $ 1,410 Accumulated impairment $ 1,116 $ 1,116 The Company evaluated goodwill and determined that no write-down was required for the first three months of 2021 or the year 2020. The changes in the carrying value of the customer list and core deposit intangibles are as follows: Three Months Ended March 31, 2021 2020 Beginning balance $ 199 $ 241 Acquisition activity 330 — Amortization (13) (11) Ending balance $ 515 $ 230 Accumulated amortization and impairment $ 708 $ 695 Core deposit intangibles represent the estimated fair value of acquired customer deposit relationships on the date of acquisition and are amortized over their estimated useful lives. The values assigned to customer lists or core deposit intangibles is based upon the application of the income approach. The intangibles are expected to have useful lives of approximately 13 years. The Company recognized $13 and $11 of amortization expense related to its intangible assets for the three months ended March 31, 2021 and 2020, respectively. At March 31, 2021, based upon a review of the intangibles, the Company determined that the fair value of the amortizable intangible assets exceeded their carrying values. As of March 31, 2021, the future amortization expense for amortizable intangible assets for the respective years is as follows: 2021 $ 81 2022 99 2023 88 2024 80 2025 61 Thereafter 106 Total $ 515

Premises and Equipment

Premises and Equipment	3 Months Ended
	Mar. 31, 2021
Premises and Equipment
Premises and Equipment	6. Premises and Equipment Premises and equipment are summarized as follows: March 31, December 31, 2021 2020 Land $ 3,732 $ 3,732 Buildings and improvements 26,431 26,431 Furniture, fixtures and equipment 13,118 13,042 Construction in process 432 93 Total 43,713 43,298 Less accumulated depreciation (24,780) (24,459) Net $ 18,933 $ 18,839

Deposits

Deposits	3 Months Ended
	Mar. 31, 2021
Deposits
Deposits	7. Deposits Deposits balances are summarized as follows: March 31, December 31, 2021 2020 Noninterest bearing demand deposits $ 272,617 $ 244,344 Interest bearing accounts: NOW 144,542 141,580 Savings 170,041 157,414 Money market 228,727 185,383 Time certificates of deposit 192,109 200,643 Total interest bearing accounts 735,419 685,020 Total deposits $ 1,008,036 $ 929,364 Included in time certificates of deposit at March 31, 2021 and December 31, 2020 were reciprocal deposits totaling $20,693 and $30,012, respectively, with original maturities of one to three years. Time certificates of deposit in denominations of $250 or greater were $31,250 and $34,565 as of March 31, 2021 and December 31, 2020, respectively. Contractual maturities of time certificates of deposit at March 31, 2021 are summarized below: March 31, 2021 Within 1 year $ 150,372 1 – 2 years 18,897 2 – 3 years 8,813 3 – 4 years 8,915 4 – 5 years 5,112 Total $ 192,109

Long-Term Debt and FHLB Stock

Long-Term Debt and FHLB Stock	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 and December 31, 2020, the Bank had access to a preapproved secured line of credit with the FHLB of $598,415 and $564,330, respectively. Borrowings under this line require collateralization through the pledge of specific loans and securities. At March 31, 2021 and December 31, 2020, the Bank had pledged assets of $179,783 and $175,011, respectively. The outstanding principal amounts and the related terms and rates at March 31, 2021 were as follows: Term Principal Maturity Rate Due in one year Long term 2 year amortizing $ 1,278 May 17, 2021 2.53 % $ 1,278 — 2 year bullet 10,000 May 17, 2021 2.46 % 10,000 — 3 year amortizing 867 May 17, 2021 2.92 % 867 — 3 year amortizing 4,257 May 16, 2022 2.49 % 3,395 862 3 year bullet 10,000 May 16, 2022 2.44 % — 10,000 3 year amortizing 10,066 February 28, 2023 1.32 % 5,000 5,066 Total $ 36,468 Weighted Average Rate 2.16 % $ 20,540 $ 15,928 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 March 31, 2021 or December 31, 2020. Subordinated Debt In addition to the Bank, the Company has one other wholly-owned subsidiary, RSB Capital Trust I (the “Trust”). In 2005, the Trust issued $5,000 of pooled trust preferred securities in a private placement and issued 155 shares of common stock at $1 par value per share, now owned by the Company. 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% (2.18% at March 31, 2021 and 2.21% at December 31, 2020) mature on May 23, 2035. Other Borrowings 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 March 31, 2021 or December 31, 2020.

Employee Benefits

Employee Benefits	3 Months Ended
	Mar. 31, 2021
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: March 31, December 31, 2021 2020 Projected and accumulated benefit obligation $ (22,591) $ (23,964) Plan assets at fair value 21,267 22,634 Funded status included in accrued expenses and other liabilities $ (1,324) $ (1,330) The net periodic pension cost and amounts recognized in other comprehensive income are as follows: Three months ended Three months ended March 31, March 31, 2021 2020 Interest cost $ 147 $ 167 Expected return on plan assets (236) (264) Amortization of unrecognized loss 90 71 Net periodic cost (benefit) $ 1 $ (26) 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 March 31, 2021, the investment funds included seven equity funds, three fixed income 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 three months of 2021 or 2020. The fair value of the Company’s pension plan assets, by fair value hierarchy, are as follows: March 31, 2021 Level 1 Level 2 Level 3 Total Assets: Investment in separate accounts Fixed income $ 15,456 $ — $ — $ 15,456 Equity 5,406 — — 5,406 Other 405 — — 405 Total assets at fair value $ 21,267 $ — $ — $ 21,267 December 31, 2020 Level 1 Level 2 Level 3 Total Assets: Investment in separate accounts Fixed income $ 15,189 $ — $ — $ 15,189 Equity 6,206 — — 6,206 Other 1,239 — — 1,239 Total assets at fair value $ 22,634 $ — $ — $ 22,634 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. For a detailed disclosure on the Bank’s pension and employee benefits plans, please refer to Note 8 of the Company’s Consolidated Financial Statements for the year ended December 31, 2020 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 $255 and $246 for the three months ended March 31, 2021 and 2020, 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 March 31, 2021 and December 31, 2020, total amounts due of $2,602 and $2,483, respectively, are included in accrued expenses and other liabilities. Total expenses related to the Directors’ Plan were $46 and $10 for the three months ended March 31, 2021 and 2020, 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 March 31, 2021 and December 31, 2020, $1,330 and $1,312, respectively, is included in accrued expenses and other liabilities, which represents the cumulative amounts deferred and earnings thereon. The Company recognized expenses of $69 and $149 for the three months ended March 31, 2021 and 2020, 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 $1,398 and $1,387, respectively, at March 31, 2021 and December 31, 2020. The Company recognized expenses of $11 and $14 for the three-month periods ended March 31, 2021 and March 31, 2020, 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 $1,960 and $2,148 at March 31, 2021 and December 31, 2020, respectively. The Company recognized expenses of $18 and $22 for the three months ended March 31, 2021 and 2020, 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 (3.25% at January 1, 2021). 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 March 31, 2021 was $4,087. 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: Three months ended Year ended March 31, December 31, 2021 2020 Allocated 43,642 21,821 Committed to be allocated 5,454 21,821 Unallocated 387,329 392,783 Paid out to participants (68) (68) Total shares 436,357 436,357 The fair value of unallocated shares was $4,009 at March 31, 2021. Total compensation expense recognized in connection with the ESOP for the three months ended March 31, 2021 and 2020 was $52 and $55, 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, on August 25, 2020, the Board of Directors granted restricted stock and stock options to employees and directors. All of the awards vest annually over a three-year period from the date of the grant and the term of each option is ten years. As of March 31, 2021, there were 97,146 stock options and 48,443 restricted stock awards that remain available for future grants. The fair value of each option granted under 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. A summary of options under the 2020 EIP as of March 31, 2021 is presented below: Weighted - Weighted-Average Number of Average Contractual Term Shares Exercise Price (in Years) Options outstanding at beginning of year 448,385 $ 6.61 6.00 Options granted - - - Options exercised - - - Forfeited - - - Options outstanding at March 31, 2021 448,385 $ 6.61 6.00 Options exercisable at March 31, 2021 - - - At March 31, 2021, the aggregate intrinsic value of the shares outstanding, which fluctuates based on changes in the fair market value of the Company’s stock, was $1,675. 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 March 31, 2021. As of March 31, 2021, there was $600 of unrecognized compensation cost related to the nonvested stock options granted under the 2020 EIP. The cost is expected to be recognized over a remaining period of 2.41 years. The following table summarizes the Company’s restricted stock activity for the three months ended March 31, 2021: Weighted-Average Number Grant Date of Shares Fair Value per Share Non-vested restricted stock at beginning of period 169,769 $ 6.57 Granted - - Vested - - Forfeited - - Non-vested restricted stock at end of period 169,769 $ 6.57 As of March 31, 2021, there was $893 of unrecognized compensation cost related to the nonvested restricted stock awards granted under the 2020 EIP. The cost is expected to be recognized over a remaining period of 2.40 years. For the three months ended March 31, 2021, share-based compensation under the plan was $153.

Leases

Leases	3 Months Ended
	Mar. 31, 2021
Leases
Leases	10. Leases As of March 31, 2021, the Company leases real estate for ten 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 Accounting Standards Update 2016-02, Leases (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 2021 to 2041, some of which include lessee options to extend the lease term. If the Company considers the exercising of a renewal option to be reasonably certain, the Company will include the extended term in the calculation of the ROU asset and lease liability. The weighted average remaining life of the lease terms for these leases was 13.1 years as of March 31, 2021. 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 2.56% in determining the lease liability as of March 31, 2021. For the three months ended March 31, 2021, total operating lease costs were $155 and were included in occupancy and other expense. Deferred rent liability was $166 at March 31, 2021 and $176 at December 31, 2020. The right-of-use asset, included in other assets, was $7,882 and the corresponding lease liability, included in accrued expenses and other liabilities, was $7,882 as of March 31, 2021. Future minimum payments for operating leases with initial or remaining terms of one year or more as of March 31, 2021 were as follows: Years ending December 31: 2021 $ 594 2022 754 2023 732 2024 729 2025 743 Thereafter 5,822 Total future minimum lease payments 9,374 Amounts representing interest (1,492) Present Value of Net Future Minimum Lease Payments $ 7,882

Commitments and Contingencies a

Commitments and Contingencies and Derivatives	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies and Derivatives
Commitments and Contingencies and Derivatives	11. Commitments and Contingencies and Derivatives 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: March 31, December 31, 2021 2020 Commitments to extend credit summarized as follows: Future loan commitments $ 7,575 $ 14,356 Undisbursed construction loans 3,174 3,493 Undisbursed home equity lines of credit 10,337 10,686 Undisbursed commercial and other line of credit 58,578 63,911 Standby letters of credit 3,498 5,681 Total $ 83,162 $ 98,127 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. Interest Rate Swaps The Company enters into interest rate swaps that allow commercial loan customers to effectively convert a variable-rate loan agreement to a fixed-rate loan agreement. Under these agreements, the Company simultaneously enters into a variable-rate loan and interest rate swap agreements with a customer. The Company then enters into a corresponding and offsetting swap agreement with a third party to hedge its exposure created by the customer agreements. The interest rate swaps with both the customers and third parties are not designated as hedges under FASB ASC Topic 815, Derivatives and Hedging, and are marked to market through earnings. The fair values of the swaps are recorded as both an asset and a liability, in other assets and other liabilities, respectively, in equal amounts for these transactions. The accrued interest receivable and payable of $2 and $0 related to our swaps is recorded in other assets and other liabilities as of March 31, 2021 and 2020, respectively. Summary information regarding these derivatives is presented below: March 31, December 31, 2021 2020 Notational amount $ 3,966 $ 1,875 Fair value $ 120 $ 41 Weighted average pay rates % % Weighted average receive rates % % Weighted average maturity (in years) Number of Contracts

Regulatory Matters

Regulatory Matters	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 and December 31, 2020, 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 March 31, 2021 Rhinebeck Bank Total capital (to risk-weighted assets) $ 124,108 14.38 % $ 69,040 8.00 % $ 86,300 10.00 % Tier 1 capital (to risk-weighted assets) 113,315 13.13 % 51,780 6.00 % 69,040 8.00 % Common equity tier one capital (to risk weighted assets) 113,315 13.13 % 38,835 4.50 % 56,095 6.50 % Tier 1 capital (to average assets) 113,315 9.88 % 45,880 4.00 % 57,351 5.00 % December 31, 2020 Rhinebeck Bank Total capital (to risk-weighted assets) $ 121,604 13.97 % $ 69,614 8.00 % $ 87,018 10.00 % Tier 1 capital (to risk-weighted assets) 110,717 12.72 % 52,211 6.00 % 69,614 8.00 % Common equity tier one capital (to risk weighted assets) 110,717 12.72 % 39,158 4.50 % 56,562 6.50 % Tier 1 capital (to average assets) 110,717 9.95 % 44,529 4.00 % 55,662 5.00 %

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2021
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 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. Level 1 securities include marketable equity securities and U.S. Treasury obligations. 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. Level 3 securities include 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 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. Other Real Estate Owned Other real estate owned represents real estate acquired through foreclosure and is carried at 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. Mortgage servicing rights are carried at the lower of amortized cost or estimated fair value and are included in other assets on the consolidated statements of financial condition. 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. Mortgagors’ escrow account The carrying amount is a reasonable estimate of fair value. 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. Loan level interest rate Swaps The fair value is based on settlement values adjusted for credit risks associated with the counterparties and the Company and observable market interest rate curves. 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) March 31, 2021 Assets: U.S. Treasury securities $ 45,299 $ 45,299 $ — $ — U.S. government agency mortgage-backed securities-residential 112,094 — 112,094 — U.S. government agency securities 6,108 — 6,108 — Municipal securities 5,480 — 5,320 160 Corporate Bonds 5,900 — 5,900 — Other 579 — 579 — Total available for sale securities 175,460 45,299 130,001 160 Loan level interest rate swaps 120 — 120 — Total assets $ 175,580 $ 45,299 $ 130,121 $ 160 Liabilities: Loan level interest rate swaps 120 — 120 — Total liabilities $ 120 $ — $ 120 $ — December 31, 2020 Assets: U.S. government agency mortgage-backed securities – residential $ 89,270 $ — $ 89,270 $ — U.S. government agency securities 7,161 — 7,161 — Municipal securities 1,476 — 1,316 160 Corporate Bonds 4,446 — 4,446 — Other 580 — 580 — Total available for sale securities 96,431 — 96,431 — Loan level interest rate swaps 41 — 41 — Total assets $ 96,472 $ — $ 96,472 $ — Liabilities: Loan level interest rate swaps 41 — 41 — Total liabilities $ 41 $ — $ 41 $ — The following tables detail the assets carried at fair value and measured at fair value on a nonrecurring basis as of March 31, 2021 and December 31, 2020 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) March 31, 2021 Impaired loans, with specific reserves $ 190 $ — $ — $ 190 Other real estate owned 89 — — 89 Total $ 279 $ — $ — $ 279 December 31, 2020 Impaired loans, with specific reserves $ 509 $ — $ — $ 509 Other real estate owned 139 — — 139 Total $ 648 $ — $ — $ 648 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) March 31, 2021 Impaired loans $ 190 Appraisal of collateral (1) Liquidation expenses (3) 0% to 6% Appraisal adjustments (2) 0% to 20% Other real estate owned 89 Appraisal of collateral (1) Liquidation expenses (3) 0% to 6% Appraisal adjustments (2) 0% to 20% December 31, 2020 Impaired loans $ 509 Appraisal of collateral (1) Liquidation expenses (3) 0% to 6% Appraisal adjustments (2) 0% to 20% Other real estate owned 139 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 2021 and 2020 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: March 31, December 31, 2021 2020 Carrying Value Fair Value Carrying Value Fair Value Financial Assets: Cash and due from banks (Level 1) $ 89,833 $ 89,833 $ 93,485 $ 93,485 Available for sale securities (Level 1) 45,299 45,299 — — Available for sale securities (Level 2) 130,001 130,001 102,773 102,773 Available for sale securities (Level 3) 160 160 160 160 Loan level interest rate swaps (Level 2) 120 120 41 41 FHLB stock (Level 2) 2,143 2,143 2,787 2,787 Loans, net (Level 3) 868,737 859,784 873,813 876,699 Mortgage servicing rights (Level 3) 2,518 4,422 2,390 3,569 Financial Liabilities: Deposits (Level 2) 1,008,036 973,447 929,364 941,460 Mortgagors' escrow accounts (Level 2) 7,280 7,286 8,494 8,501 FHLB advances (Level 2) 36,468 37,021 50,674 51,468 Subordinated debt (Level 2) 5,155 5,155 5,155 5,155 Loan level interest rate swaps (Level 2) 120 120 41 41

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2021
Accumulated Other Comprehensive Loss.
Accumulated Other Comprehensive Loss	14. Accumulated Other Comprehensive Loss The activity in accumulated other comprehensive loss for the three months ended March 31, 2021 and 2020 is as follows: Accumulated Other Comprehensive Loss (1) Unrealized (losses) gains on Defined Benefit available for sale Pension Plan securities Total Balance at December 31, 2020 $ (4,784) $ 993 $ (3,791) Other comprehensive loss before reclassifications (70) (1,170) (1,240) Amounts reclassified from accumulated other comprehensive loss 71 — 71 Period change 1 (1,170) (1,169) Balance at March 31, 2021 $ (4,783) $ (177) $ (4,960) Balance at December 31, 2019 $ (3,909) $ (195) $ (4,104) Other comprehensive gain before reclassifications 222 2,584 2,806 Amounts reclassified from accumulated other comprehensive loss 56 23 79 Period change 278 2,607 2,885 Balance at March 31, 2020 $ (3,631) $ 2,412 $ (1,219)

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2021
Earnings Per Share
Earnings Per Share	15. 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 months ended March 31, 2021, there were 15,000 options outstanding at an average weighted price of $7.90 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 months ended March 31, 2020. Three months ended March 31, 2021 2020 Net income applicable to common stock $ 3,321 $ 1,075 Average number of common shares outstanding 11,133,290 11,133,290 Less: Average unearned ESOP shares 390,056 411,877 Average number of common shares outstanding used to calculate basic earnings per common share 10,743,234 10,721,413 Additional common stock equivalents (nonvested stock) used to calculate diluted earnings per share 61,332 — Additional common stock equivalents (stock options) used to calculate diluted earnings per share 70,550 — Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share 10,875,116 10,721,413 Earnings per Common share: Basic $ 0.31 $ 0.10 Diluted $ 0.31 $ 0.10

Nature of Business and Signif_2

Nature of Business and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2021
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. On March 12, 2021, the Company completed a branch purchase and assumption transaction with ConnectOne Bancorp, Inc. Management concluded that the acquisition represented a business combination, which is accounted for using the acquisition method, with the results of operations included in the Company’s consolidated financial statements as of the acquisition date. For additional information, see Note 2.
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 Significant progress has been made to combat the outbreak of COVID-19; however, the global pandemic has adversely impacted a broad range of industries in which the Company's customers operate and could still impair their ability to fulfill their financial obligations to the Company. The Company’s business is dependent upon the willingness and ability of its employees and customers to conduct banking and other financial transactions. If there is a resurgence in the virus, the Company could experience further adverse effects on its business, financial condition, results of operations and cash flows. It is not possible to know the full extent of the impact of COVID-19 and the effects it will have on the Company's future operations .
Impact of Recent Accounting Pronouncements	Impact of Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“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. The Company is currently assessing the effect of ASU No. 2016‑13 and has engaged with a software vendor to assist in its efforts.
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 is taking 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.

Acquisition (Tables)

Acquisition (Tables)	3 Months Ended
	Mar. 31, 2021
Acquisition
Schedule of estimated fair values of the assets acquired and liabilities assumed	March 12, Fair value of consideration transferred, assets acquired and liabilities assumed 2021 Total cash received on acquisition $ 32,767 Assets acquired Fixed assets 113 Reimbursed expenses 9 Core deposit intangible (1) 330 Total assets acquired 452 Liabilities assumed Deposits 33,863 Mark-to-market adjustment 181 Total liabilities assumed 34,044 Net liabilities acquired (33,592) Goodwill recognized $ 825 ______________________________________ (1) The core deposit intangible was determined to have an estimated life of approximately 13 years.

Investment Securities (Tables)

Investment Securities (Tables)	3 Months Ended
	Mar. 31, 2021
Investment Securities
Schedule of amortized cost, gross unrealized gains and losses and fair values of available for sale securities	March 31, 2021 Gross Gross Unrealized Unrealized Amortized Cost Gains Losses Fair Value U.S. Treasury securities $ 45,587 $ — $ (288) $ 45,299 U.S. government agency mortgage-backed securities–residential 112,061 1,095 (1,062) 112,094 U.S. government agency securities 6,009 126 (27) 6,108 Municipal securities (1) 5,507 20 (47) 5,480 Corporate bonds 5,900 44 (44) 5,900 Other 620 — (41) 579 Total $ 175,684 $ 1,285 $ (1,509) $ 175,460 December 31, 2020 Gross Gross Unrealized Unrealized Amortized Cost Gains Losses Fair Value U.S. government agency mortgage-backed securities–residential $ 88,197 $ 1,350 $ (277) $ 89,270 U.S. government agency securities 7,013 148 — 7,161 Municipal securities (1) 1,445 31 — 1,476 Corporate bonds 4,400 49 (3) 4,446 Other 621 — (41) 580 Total $ 101,676 $ 1,578 $ (321) $ 102,933 ( 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	March 31, 2021 Less Than 12 Months 12 Months or Longer Total Unrealized Unrealized Unrealized Fair Value Losses Fair Value Losses Fair Value Losses U.S. Treasury securities $ 45,299 $ (288) $ — $ — $ 45,299 $ (288) U.S. government agency mortgage-backed securities-residential 58,700 (1,059) 115 (3) 58,815 (1,062) U.S. government agency securities 971 (27) — — 971 (27) Municipal Securities 4,172 (47) — — 4,172 (47) Corporate Bonds 3,606 (44) — — 3,606 (44) Other 522 (41) — — 522 (41) Total $ 113,270 $ (1,506) $ 115 $ (3) $ 113,385 $ (1,509) December 31, 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 $ 30,243 $ (269) $ 293 $ (8) $ 30,536 $ (277) Corporate Bonds 747 (3) — — 747 (3) Other 522 (41) — — 522 (41) Total $ 31,512 $ (313) $ 293 $ (8) $ 31,805 $ (321)
Schedule of maturities of debt securities	March 31, 2021 December 31, 2020 Amortized Cost Fair Value Amortized Cost Fair Value Maturity: Within 1 year $ 10,216 $ 10,210 $ 102 $ 102 After 1 but within 5 years 34,511 34,367 2,155 2,155 After 5 but within 10 years 16,871 16,807 9,946 10,162 After 10 years 1,405 1,403 655 664 Total Maturities 63,003 62,787 12,858 13,083 Mortgage-backed securities 112,061 112,094 88,197 89,270 Other 620 579 621 580 Total $ 175,684 $ 175,460 $ 101,676 $ 102,933

Loans and Allowance for Loan _2

Loans and Allowance for Loan Losses (Tables)	3 Months Ended
	Mar. 31, 2021
Loans and Allowance for Loan Losses
Schedule of summary loan portfolio	March 31, December 31, 2021 2020 Commercial real estate loans: Construction $ 5,433 $ 5,392 Non-residential 240,848 248,349 Multi-family 39,420 30,379 Residential real estate loans 37,477 39,239 Commercial and industrial loans (1) 161,908 154,016 Consumer loans: Indirect automobile 365,741 376,260 Home equity 13,435 14,165 Other consumer 8,447 8,816 Total gross loans 872,709 876,616 Net deferred loan costs 7,289 8,830 Allowance for loan losses (11,261) (11,633) Total net loans $ 868,737 $ 873,813 (1) Includes $92,080 and $75,366 in U.S. Small Business Administration (“SBA”), paycheck protection program (“PPP”) loans at March 31, 2021 and December 31, 2020, respectively.
Schedule of loans by risk rating and portfolio segment	March 31, 2021 Pass Special Mention Substandard Total Commercial real estate: Construction $ 5,433 $ — $ — $ 5,433 Non-residential 232,817 5,950 2,081 240,848 Multifamily 39,420 — — 39,420 Residential real estate 34,893 — 2,584 37,477 Commercial and industrial 155,752 5,129 1,027 161,908 Consumer: Indirect automobile 365,329 — 412 365,741 Home equity 13,000 — 435 13,435 Other consumer 8,387 — 60 8,447 Total $ 855,031 $ 11,079 $ 6,599 $ 872,709 December 31, 2020 Pass Special Mention Substandard Total Commercial real estate: Construction $ 5,392 $ — $ — $ 5,392 Non-residential 240,778 5,468 2,103 248,349 Multifamily 30,379 — — 30,379 Residential real estate 36,597 — 2,642 39,239 Commercial and industrial 147,748 5,395 873 154,016 Consumer: Indirect automobile 375,270 — 990 376,260 Home equity 13,819 — 346 14,165 Other consumer 8,768 — 48 8,816 Total $ 858,751 $ 10,863 $ 7,002 $ 876,616
Schedule of classes of the loan portfolio by the aging categories of performing loans and nonaccrual loans	March 31, 2021 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 $ 5,433 $ — $ — $ — $ 5,433 $ — Non-residential 237,088 1,477 357 1,926 240,848 1,926 Multifamily 39,420 — — — 39,420 — Residential real estate 35,472 757 100 1,148 37,477 2,584 Commercial and industrial 161,205 1 1 701 161,908 870 Consumer: Indirect automobile 360,962 3,810 600 369 365,741 412 Home equity 12,920 — 178 337 13,435 435 Other consumer 8,330 45 12 60 8,447 60 Total $ 860,830 $ 6,090 $ 1,248 $ 4,541 $ 872,709 $ 6,287 December 31, 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 $ 5,392 $ — $ — $ — $ 5,392 $ — Non-residential 244,387 1,985 33 1,944 248,349 1,944 Multifamily 30,379 — — — 30,379 — Residential real estate 36,581 1,351 138 1,169 39,239 2,641 Commercial and industrial 151,771 1,551 511 183 154,016 366 Consumer: Indirect automobile 367,929 6,321 1,063 947 376,260 990 Home equity 13,506 310 101 248 14,165 346 Other consumer 8,663 98 7 48 8,816 48 Total $ 858,608 $ 11,616 $ 1,853 $ 4,539 $ 876,616 $ 6,335
Schedule of information to impaired loans by loan portfolio class	March 31, 2021 Recorded Unpaid Principal Related Average Recorded Investment Balance Allowance Investment With no related allowance recorded: Commercial real estate: Non-residential $ 1,926 $ 2,963 $ — $ 2,569 Multifamily — — — 92 Residential real estate 2,584 3,064 — 2,616 Commercial and industrial 563 847 — 441 Consumer: Indirect automobile 159 211 — 247 Home equity 435 441 — 452 Other consumer 60 60 — 35 Total $ 5,727 $ 7,586 $ — $ 6,452 With an allowance recorded: Commercial and industrial $ 307 $ 307 $ 296 $ 30 Consumer: Indirect automobile 253 261 74 591 Other consumer — — — 13 Total $ 560 $ 568 $ 370 $ 634 Total: Commercial real estate: Non-residential $ 1,926 $ 2,963 $ — $ 2,569 Multifamily — — — 92 Residential real estate 2,584 3,064 — 2,616 Commercial and industrial 870 1,154 296 471 Consumer: Indirect automobile 412 472 74 838 Home equity 435 441 — 452 Other consumer 60 60 — 48 Total $ 6,287 $ 8,154 $ 370 $ 7,086 December 31, 2020 Recorded Unpaid Principal Related Average Recorded Investment Balance Allowance Investment With no related allowance recorded: Commercial real estate: Non-residential $ 1,944 $ 2,973 $ — $ 3,086 Multifamily — — — 184 Residential real estate 2,641 3,086 — 2,554 Commercial and industrial 345 586 — 426 Consumer: Indirect automobile 397 467 — 293 Home equity 346 351 — 449 Other consumer — — — 21 Total $ 5,673 $ 7,463 $ — $ 7,013 With an allowance recorded: Commercial real estate: Commercial and industrial $ 21 $ 21 $ 11 $ 30 Consumer: Indirect automobile 593 613 135 591 Other consumer 48 49 7 13 Total $ 662 $ 683 $ 153 $ 634 Total: Commercial real estate: Non-residential $ 1,944 $ 2,973 $ — $ 3,086 Multifamily — — — 184 Residential real estate 2,641 3,086 — 2,554 Commercial and industrial 366 607 11 456 Consumer: Indirect automobile 990 1,080 135 884 Home equity 346 351 — 449 Other consumer 48 49 7 34 Total $ 6,335 $ 8,146 $ 153 $ 7,647
Schedule of loan balances by segment	Commercial Residential Commercial Real Estate Real Estate and Industrial Indirect Consumer Totals Three months ended March 31, 2021 Allowance for loan losses: Beginning balance $ 5,354 $ 117 $ 1,050 $ 4,974 $ 138 $ 11,633 (Credit to) provision for loan losses (1,192) 11 269 857 (14) (69) Loans charged-off — — — (626) (3) (629) Recoveries — 3 — 307 16 326 Ending balance $ 4,162 $ 131 $ 1,319 $ 5,512 $ 137 $ 11,261 Ending balance: Loans deemed impaired $ — $ — $ 296 $ 74 $ — $ 370 Loans not deemed impaired $ 4,162 $ 131 $ 1,023 $ 5,438 $ 137 $ 10,891 Loan receivables: Ending balance $ 285,701 $ 37,477 $ 161,908 $ 365,741 $ 21,882 $ 872,709 Ending balance: Loans deemed impaired $ 1,926 $ 2,584 $ 870 $ 412 $ 495 $ 6,287 Loans not deemed impaired $ 283,775 $ 34,893 $ 161,038 $ 365,329 $ 21,387 $ 866,422 Commercial Residential Commercial Real Estate Real Estate and Industrial Indirect Consumer Totals Three months ended March 31, 2020 Allowance for loan losses: Beginning balance $ 2,009 $ 99 $ 603 $ 3,117 $ 126 $ 5,954 Provision for loan losses 144 — 31 1,012 13 1,200 Loans charged-off — — (38) (711) (15) (764) Recoveries — — 5 220 5 230 Ending balance $ 2,153 $ 99 $ 601 $ 3,638 $ 129 $ 6,620 Ending balance: Individually evaluated for impairment $ — $ — $ — $ 65 $ — $ 65 Collectively evaluated for impairment $ 2,153 $ 99 $ 601 $ 3,573 $ 129 $ 6,555 Commercial Residential Commercial Real Estate Real Estate and Industrial Indirect Consumer Totals Year ended December 31, 2020 Allowance for loan losses: Ending balance: Loans deemed impaired $ — $ — $ 11 $ 135 $ 7 $ 153 Loans not deemed impaired $ 5,354 $ 117 $ 1,039 $ 4,839 $ 131 $ 11,480 Loan receivables: Ending balance $ 284,120 $ 39,239 $ 154,016 $ 376,260 $ 22,981 $ 876,616 Ending balance: Loans deemed impaired $ 1,944 $ 2,641 $ 366 $ 990 $ 394 $ 6,335 Loans not deemed impaired $ 282,176 $ 36,598 $ 153,650 $ 375,270 $ 22,587 $ 870,281

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets
Schedule of changes in the carrying value of goodwill	Three Months Ended March 31, 2021 2020 Beginning balance $ 1,410 $ 1,410 Acquisition activity 825 — Ending balance $ 2,235 $ 1,410 Accumulated impairment $ 1,116 $ 1,116
Schedule of changes in the carrying value of customer list intangible	Three Months Ended March 31, 2021 2020 Beginning balance $ 199 $ 241 Acquisition activity 330 — Amortization (13) (11) Ending balance $ 515 $ 230 Accumulated amortization and impairment $ 708 $ 695
Schedule of future amortization expense for amortizable intangible assets	2021 $ 81 2022 99 2023 88 2024 80 2025 61 Thereafter 106 Total $ 515

Premises and Equipment (Tables)

Premises and Equipment (Tables)	3 Months Ended
	Mar. 31, 2021
Premises and Equipment
Schedule of premises and equipment	March 31, December 31, 2021 2020 Land $ 3,732 $ 3,732 Buildings and improvements 26,431 26,431 Furniture, fixtures and equipment 13,118 13,042 Construction in process 432 93 Total 43,713 43,298 Less accumulated depreciation (24,780) (24,459) Net $ 18,933 $ 18,839

Deposits (Tables)

Deposits (Tables)	3 Months Ended
	Mar. 31, 2021
Deposits
Schedule of deposits	March 31, December 31, 2021 2020 Noninterest bearing demand deposits $ 272,617 $ 244,344 Interest bearing accounts: NOW 144,542 141,580 Savings 170,041 157,414 Money market 228,727 185,383 Time certificates of deposit 192,109 200,643 Total interest bearing accounts 735,419 685,020 Total deposits $ 1,008,036 $ 929,364
Schedule of contractual maturities of time certificates of deposit	March 31, 2021 Within 1 year $ 150,372 1 – 2 years 18,897 2 – 3 years 8,813 3 – 4 years 8,915 4 – 5 years 5,112 Total $ 192,109

Long-Term Debt and FHLB Stock (

Long-Term Debt and FHLB Stock (Tables)	3 Months Ended
	Mar. 31, 2021
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 2 year amortizing $ 1,278 May 17, 2021 2.53 % $ 1,278 — 2 year bullet 10,000 May 17, 2021 2.46 % 10,000 — 3 year amortizing 867 May 17, 2021 2.92 % 867 — 3 year amortizing 4,257 May 16, 2022 2.49 % 3,395 862 3 year bullet 10,000 May 16, 2022 2.44 % — 10,000 3 year amortizing 10,066 February 28, 2023 1.32 % 5,000 5,066 Total $ 36,468 Weighted Average Rate 2.16 % $ 20,540 $ 15,928

Employee Benefits (Tables)

Employee Benefits (Tables)	3 Months Ended
	Mar. 31, 2021
Employee Benefits
Schedule of plan's funded status and amounts recognized in consolidated statement of financial condition	March 31, December 31, 2021 2020 Projected and accumulated benefit obligation $ (22,591) $ (23,964) Plan assets at fair value 21,267 22,634 Funded status included in accrued expenses and other liabilities $ (1,324) $ (1,330)
Schedule of net periodic pension cost and amounts recognized in other comprehensive income	Three months ended Three months ended March 31, March 31, 2021 2020 Interest cost $ 147 $ 167 Expected return on plan assets (236) (264) Amortization of unrecognized loss 90 71 Net periodic cost (benefit) $ 1 $ (26)
Schedule of fair value of pension plan assets, by fair value hierarchy	The fair value of the Company’s pension plan assets, by fair value hierarchy, are as follows: March 31, 2021 Level 1 Level 2 Level 3 Total Assets: Investment in separate accounts Fixed income $ 15,456 $ — $ — $ 15,456 Equity 5,406 — — 5,406 Other 405 — — 405 Total assets at fair value $ 21,267 $ — $ — $ 21,267 December 31, 2020 Level 1 Level 2 Level 3 Total Assets: Investment in separate accounts Fixed income $ 15,189 $ — $ — $ 15,189 Equity 6,206 — — 6,206 Other 1,239 — — 1,239 Total assets at fair value $ 22,634 $ — $ — $ 22,634
Schedule of employee stock ownership plan	Three months ended Year ended March 31, December 31, 2021 2020 Allocated 43,642 21,821 Committed to be allocated 5,454 21,821 Unallocated 387,329 392,783 Paid out to participants (68) (68) Total shares 436,357 436,357
Summary of options	A summary of options under the 2020 EIP as of March 31, 2021 is presented below: Weighted - Weighted-Average Number of Average Contractual Term Shares Exercise Price (in Years) Options outstanding at beginning of year 448,385 $ 6.61 6.00 Options granted - - - Options exercised - - - Forfeited - - - Options outstanding at March 31, 2021 448,385 $ 6.61 6.00 Options exercisable at March 31, 2021 - - -
Summary of Company’s restricted stock activity	The following table summarizes the Company’s restricted stock activity for the three months ended March 31, 2021: Weighted-Average Number Grant Date of Shares Fair Value per Share Non-vested restricted stock at beginning of period 169,769 $ 6.57 Granted - - Vested - - Forfeited - - Non-vested restricted stock at end of period 169,769 $ 6.57

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2021
Leases
Schedule of future minimum payments for operating leases	Years ending December 31: 2021 $ 594 2022 754 2023 732 2024 729 2025 743 Thereafter 5,822 Total future minimum lease payments 9,374 Amounts representing interest (1,492) Present Value of Net Future Minimum Lease Payments $ 7,882

Commitments and Contingencies_2

Commitments and Contingencies and Derivatives (Tables)	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies and Derivatives
Schedule of contract amounts represent off-balance sheet credit risk	March 31, December 31, 2021 2020 Commitments to extend credit summarized as follows: Future loan commitments $ 7,575 $ 14,356 Undisbursed construction loans 3,174 3,493 Undisbursed home equity lines of credit 10,337 10,686 Undisbursed commercial and other line of credit 58,578 63,911 Standby letters of credit 3,498 5,681 Total $ 83,162 $ 98,127
Schedule of information regarding derivatives	March 31, December 31, 2021 2020 Notational amount $ 3,966 $ 1,875 Fair value $ 120 $ 41 Weighted average pay rates % % Weighted average receive rates % % Weighted average maturity (in years) Number of Contracts

Regulatory Matters (Tables)

Regulatory Matters (Tables)	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 Rhinebeck Bank Total capital (to risk-weighted assets) $ 124,108 14.38 % $ 69,040 8.00 % $ 86,300 10.00 % Tier 1 capital (to risk-weighted assets) 113,315 13.13 % 51,780 6.00 % 69,040 8.00 % Common equity tier one capital (to risk weighted assets) 113,315 13.13 % 38,835 4.50 % 56,095 6.50 % Tier 1 capital (to average assets) 113,315 9.88 % 45,880 4.00 % 57,351 5.00 % December 31, 2020 Rhinebeck Bank Total capital (to risk-weighted assets) $ 121,604 13.97 % $ 69,614 8.00 % $ 87,018 10.00 % Tier 1 capital (to risk-weighted assets) 110,717 12.72 % 52,211 6.00 % 69,614 8.00 % Common equity tier one capital (to risk weighted assets) 110,717 12.72 % 39,158 4.50 % 56,562 6.50 % Tier 1 capital (to average assets) 110,717 9.95 % 44,529 4.00 % 55,662 5.00 %

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2021
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) March 31, 2021 Assets: U.S. Treasury securities $ 45,299 $ 45,299 $ — $ — U.S. government agency mortgage-backed securities-residential 112,094 — 112,094 — U.S. government agency securities 6,108 — 6,108 — Municipal securities 5,480 — 5,320 160 Corporate Bonds 5,900 — 5,900 — Other 579 — 579 — Total available for sale securities 175,460 45,299 130,001 160 Loan level interest rate swaps 120 — 120 — Total assets $ 175,580 $ 45,299 $ 130,121 $ 160 Liabilities: Loan level interest rate swaps 120 — 120 — Total liabilities $ 120 $ — $ 120 $ — December 31, 2020 Assets: U.S. government agency mortgage-backed securities – residential $ 89,270 $ — $ 89,270 $ — U.S. government agency securities 7,161 — 7,161 — Municipal securities 1,476 — 1,316 160 Corporate Bonds 4,446 — 4,446 — Other 580 — 580 — Total available for sale securities 96,431 — 96,431 — Loan level interest rate swaps 41 — 41 — Total assets $ 96,472 $ — $ 96,472 $ — Liabilities: Loan level interest rate swaps 41 — 41 — Total liabilities $ 41 $ — $ 41 $ —
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) March 31, 2021 Impaired loans, with specific reserves $ 190 $ — $ — $ 190 Other real estate owned 89 — — 89 Total $ 279 $ — $ — $ 279 December 31, 2020 Impaired loans, with specific reserves $ 509 $ — $ — $ 509 Other real estate owned 139 — — 139 Total $ 648 $ — $ — $ 648
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) March 31, 2021 Impaired loans $ 190 Appraisal of collateral (1) Liquidation expenses (3) 0% to 6% Appraisal adjustments (2) 0% to 20% Other real estate owned 89 Appraisal of collateral (1) Liquidation expenses (3) 0% to 6% Appraisal adjustments (2) 0% to 20% December 31, 2020 Impaired loans $ 509 Appraisal of collateral (1) Liquidation expenses (3) 0% to 6% Appraisal adjustments (2) 0% to 20% Other real estate owned 139 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	March 31, December 31, 2021 2020 Carrying Value Fair Value Carrying Value Fair Value Financial Assets: Cash and due from banks (Level 1) $ 89,833 $ 89,833 $ 93,485 $ 93,485 Available for sale securities (Level 1) 45,299 45,299 — — Available for sale securities (Level 2) 130,001 130,001 102,773 102,773 Available for sale securities (Level 3) 160 160 160 160 Loan level interest rate swaps (Level 2) 120 120 41 41 FHLB stock (Level 2) 2,143 2,143 2,787 2,787 Loans, net (Level 3) 868,737 859,784 873,813 876,699 Mortgage servicing rights (Level 3) 2,518 4,422 2,390 3,569 Financial Liabilities: Deposits (Level 2) 1,008,036 973,447 929,364 941,460 Mortgagors' escrow accounts (Level 2) 7,280 7,286 8,494 8,501 FHLB advances (Level 2) 36,468 37,021 50,674 51,468 Subordinated debt (Level 2) 5,155 5,155 5,155 5,155 Loan level interest rate swaps (Level 2) 120 120 41 41

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2021
Accumulated Other Comprehensive Loss.
Schedule of accumulated other comprehensive loss components	The activity in accumulated other comprehensive loss for the three months ended March 31, 2021 and 2020 is as follows: Accumulated Other Comprehensive Loss (1) Unrealized (losses) gains on Defined Benefit available for sale Pension Plan securities Total Balance at December 31, 2020 $ (4,784) $ 993 $ (3,791) Other comprehensive loss before reclassifications (70) (1,170) (1,240) Amounts reclassified from accumulated other comprehensive loss 71 — 71 Period change 1 (1,170) (1,169) Balance at March 31, 2021 $ (4,783) $ (177) $ (4,960) Balance at December 31, 2019 $ (3,909) $ (195) $ (4,104) Other comprehensive gain before reclassifications 222 2,584 2,806 Amounts reclassified from accumulated other comprehensive loss 56 23 79 Period change 278 2,607 2,885 Balance at March 31, 2020 $ (3,631) $ 2,412 $ (1,219)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share
Schedule of earnings per share, basic and diluted	Three months ended March 31, 2021 2020 Net income applicable to common stock $ 3,321 $ 1,075 Average number of common shares outstanding 11,133,290 11,133,290 Less: Average unearned ESOP shares 390,056 411,877 Average number of common shares outstanding used to calculate basic earnings per common share 10,743,234 10,721,413 Additional common stock equivalents (nonvested stock) used to calculate diluted earnings per share 61,332 — Additional common stock equivalents (stock options) used to calculate diluted earnings per share 70,550 — Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share 10,875,116 10,721,413 Earnings per Common share: Basic $ 0.31 $ 0.10 Diluted $ 0.31 $ 0.10

Nature of Business and Signif_3

Nature of Business and Significant Accounting Policies (Details)	3 Months Ended
	Mar. 31, 2021item
Nature of Business and Significant Accounting Policies
Number of branches	13
Number of representative offices	2

Acquisition (Narrative) (Detail

Acquisition (Narrative) (Details) - ConnectOne Bank $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)	Mar. 12, 2021USD ($)item
Business Acquisition [Line Items]
Deposits		$ 33,863
Expenses related to the acquisition	$ 71
Monroe and Warwick, New York
Business Acquisition [Line Items]
Number of branch acquired | item		2

Acquisition (Schedule of estima

Acquisition (Schedule of estimated fair values of the assets acquired and liabilities assumed) (Details) - USD ($) $ in Thousands	Mar. 12, 2021	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Fair value of consideration transferred
Total cash received on acquisition		$ 32,767
Liabilities assumed
Goodwill		$ 2,235	$ 1,410	$ 1,410	$ 1,410
Useful life of purchased customer accounts		13 years
ConnectOne Bank
Fair value of consideration transferred
Total cash received on acquisition	$ 32,767
Assets acquired
Fixed assets	113
Reimbursed expenses	9
Core deposit intangible	330
Total assets acquired	452
Liabilities assumed
Deposits	33,863
Mark-to-market adjustment	181
Total liabilities assumed	34,044
Net liabilities acquired	(33,592)
Goodwill	$ 825
ConnectOne Bank | Core deposit
Liabilities assumed
Useful life of purchased customer accounts	13 years

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		Mar. 31, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		$ 175,684	$ 101,676
Gross Unrealized Gains		1,285	1,578
Gross Unrealized Losses		(1,509)	(321)
Fair Value		175,460	102,933
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		45,587
Gross Unrealized Gains		0
Gross Unrealized Losses		(288)
Fair Value		45,299
U.S. government agency mortgage-backed securities-residential
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		112,061	88,197
Gross Unrealized Gains		1,095	1,350
Gross Unrealized Losses		(1,062)	(277)
Fair Value		112,094	89,270
U.S. government agency securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		6,009	7,013
Gross Unrealized Gains		126	148
Gross Unrealized Losses		(27)
Fair Value		6,108	7,161
Municipal securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	[1]	5,507	1,445
Gross Unrealized Gains	[1]	20	31
Gross Unrealized Losses	[1]	(47)
Fair Value	[1]	5,480	1,476
Corporate Bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		5,900	4,400
Gross Unrealized Gains		44	49
Gross Unrealized Losses		(44)	(3)
Fair Value		5,900	4,446
Other Debt Obligations [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		620	621
Gross Unrealized Gains		0
Gross Unrealized Losses		(41)	(41)
Fair Value		$ 579	$ 580
[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	Mar. 31, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months Fair Value	$ 113,270	$ 31,512
Less Than 12 Months Unrealized Losses	(1,506)	(313)
12 Months or Longer Fair Value	115	293
12 Months or Longer Unrealized Losses	(3)	(8)
Fair Value	113,385	31,805
Unrealized Losses	(1,509)	(321)
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months Fair Value	45,299
Less Than 12 Months Unrealized Losses	(288)
Fair Value	45,299
Unrealized Losses	(288)
U.S. government agency mortgage-backed securities-residential
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months Fair Value	58,700	30,243
Less Than 12 Months Unrealized Losses	(1,059)	(269)
12 Months or Longer Fair Value	115	293
12 Months or Longer Unrealized Losses	(3)	(8)
Fair Value	58,815	30,536
Unrealized Losses	(1,062)	(277)
U.S. government agency securities
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months Fair Value	971
Less Than 12 Months Unrealized Losses	(27)
Fair Value	971
Unrealized Losses	(27)
Municipal securities
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months Fair Value	4,172
Less Than 12 Months Unrealized Losses	(47)
Fair Value	4,172
Unrealized Losses	(47)
Corporate Bonds
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months Fair Value	3,606	747
Less Than 12 Months Unrealized Losses	(44)	(3)
Fair Value	3,606	747
Unrealized Losses	(44)	(3)
Other Debt Obligations [Member]
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months Fair Value	522	522
Less Than 12 Months Unrealized Losses	(41)	(41)
Fair Value	522	522
Unrealized Losses	$ (41)	$ (41)

Investment Securities (Schedu_3

Investment Securities (Schedule of maturities of debt securities) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Amortized Cost
Within 1 year	$ 10,216	$ 102
After 1 but within 5 years	34,511	2,155
After 5 but within 10 years	16,871	9,946
After 10 years	1,405	655
Total Maturities	63,003	12,858
Mortgage-backed securities	112,061	88,197
Other	620	621
Amortized Cost	175,684	101,676
Fair Value
Within 1 year	10,210	102
After 1 but within 5 years	34,367	2,155
After 5 but within 10 years	16,807	10,162
After 10 years	1,403	664
Total Maturities	62,787	13,083
Mortgage-backed securities	112,094	89,270
Other	579	580
Fair Value	$ 175,460	$ 102,933

Investment Securities (Narrativ

Investment Securities (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)security	Dec. 31, 2020USD ($)
Investment Securities
Number of individual available-for-sale securities with unrealized losses | security	89
Unrealized Losses	$ 1,509	$ 321
Aggregate percentage of depreciation	1.33%
Available for sale securities pledged to secure Federal Home Loan Bank of New York ("FHLBNY") borrowings	$ 15,517	18,123
Available for sale securities pledged to secure Federal Reserve Bank of New York ("FRBNY") borrowings	9,646	$ 1,059
Proceeds from the sale of available for sale securities and calls	2,000
Gains on sales of investment securities	0
Losses on sales of investment securities	$ 0

Loans and Allowance for Loan _3

Loans and Allowance for Loan Losses (Schedule of summary loan portfolio) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	$ 872,709	$ 876,616
Net deferred loan costs	7,289	8,830
Allowance for loan losses	(11,261)	(11,633)	$ (6,620)	$ (5,954)
Total net loans	868,737	873,813
Indirect automobile
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	365,741	376,260
Allowance for loan losses	(5,512)	(4,974)	(3,638)	(3,117)
Commercial real estate
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	285,701	284,120
Allowance for loan losses	(4,162)	(5,354)	(2,153)	(2,009)
Commercial real estate | Undisbursed construction loans
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	5,433	5,392
Commercial real estate | Non-residential
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	240,848	248,349
Commercial real estate | Multifamily
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	39,420	30,379
Residential Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	37,477	39,239
Allowance for loan losses	(131)	(117)	(99)	(99)
Commercial and industrial
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	161,908	154,016
Allowance for loan losses	(1,319)	(1,050)	(601)	(603)
Commercial and industrial | Small Business Administration Paycheck Protection Program
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	92,080	75,366
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	21,882	22,981
Allowance for loan losses	(137)	(138)	$ (129)	$ (126)
Consumer | Indirect automobile
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	365,741	376,260
Consumer | Home equity
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	13,435	14,165
Consumer | Other consumer
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	$ 8,447	$ 8,816

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	Mar. 31, 2021	Dec. 31, 2020
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	$ 872,709	$ 876,616
Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	855,031	858,751
Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	11,079	10,863
Substandard
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	6,599	7,002
Indirect automobile
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	365,741	376,260
Commercial real estate
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	285,701	284,120
Commercial real estate | Undisbursed construction loans
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	5,433	5,392
Commercial real estate | Undisbursed construction loans | Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	5,433	5,392
Commercial real estate | Non-residential
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	240,848	248,349
Commercial real estate | Non-residential | Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	232,817	240,778
Commercial real estate | Non-residential | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	5,950	5,468
Commercial real estate | Non-residential | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	2,081	2,103
Commercial real estate | Multifamily
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	39,420	30,379
Commercial real estate | Multifamily | Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	39,420	30,379
Residential Real Estate
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	37,477	39,239
Residential Real Estate | Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	34,893	36,597
Residential Real Estate | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	2,584	2,642
Commercial and industrial
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	161,908	154,016
Commercial and industrial | Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	155,752	147,748
Commercial and industrial | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	5,129	5,395
Commercial and industrial | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	1,027	873
Consumer
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	21,882	22,981
Consumer | Indirect automobile
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	365,741	376,260
Consumer | Indirect automobile | Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	365,329	375,270
Consumer | Indirect automobile | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	412	990
Consumer | Home equity
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	13,435	14,165
Consumer | Home equity | Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	13,000	13,819
Consumer | Home equity | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	435	346
Consumer | Other consumer
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	8,447	8,816
Consumer | Other consumer | Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	8,387	8,768
Consumer | Other consumer | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	$ 60	$ 48

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	Mar. 31, 2021	Dec. 31, 2020
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	$ 860,830	$ 858,608
Total gross loans	872,709	876,616
Nonaccrual	6,287	6,335
30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	6,090	11,616
60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	1,248	1,853
Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	4,541	4,539
Indirect automobile
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total gross loans	365,741	376,260
Commercial real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total gross loans	285,701	284,120
Commercial real estate | Undisbursed construction loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	5,433	5,392
Total gross loans	5,433	5,392
Commercial real estate | Non-residential
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	237,088	244,387
Total gross loans	240,848	248,349
Nonaccrual	1,926	1,944
Commercial real estate | Non-residential | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	1,477	1,985
Commercial real estate | Non-residential | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	357	33
Commercial real estate | Non-residential | Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	1,926	1,944
Commercial real estate | Multifamily
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	39,420	30,379
Total gross loans	39,420	30,379
Residential Real Estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	35,472	36,581
Total gross loans	37,477	39,239
Nonaccrual	2,584	2,641
Residential Real Estate | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	757	1,351
Residential Real Estate | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	100	138
Residential Real Estate | Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	1,148	1,169
Commercial and industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	161,205	151,771
Total gross loans	161,908	154,016
Nonaccrual	870	366
Commercial and industrial | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	1	1,551
Commercial and industrial | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	1	511
Commercial and industrial | Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	701	183
Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total gross loans	21,882	22,981
Consumer | Indirect automobile
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	360,962	367,929
Total gross loans	365,741	376,260
Nonaccrual	412	990
Consumer | Indirect automobile | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	3,810	6,321
Consumer | Indirect automobile | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	600	1,063
Consumer | Indirect automobile | Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	369	947
Consumer | Home equity
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	12,920	13,506
Total gross loans	13,435	14,165
Nonaccrual	435	346
Consumer | Home equity | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	0	310
Consumer | Home equity | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	178	101
Consumer | Home equity | Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	337	248
Consumer | Other consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	8,330	8,663
Total gross loans	8,447	8,816
Nonaccrual	60	48
Consumer | Other consumer | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	45	98
Consumer | Other consumer | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	12	7
Consumer | Other consumer | Greater Than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	$ 60	$ 48

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	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
With no related allowance recorded:
Recorded Investment	$ 5,727	$ 5,673
Unpaid Principal Balance	7,586	7,463
Average Recorded Investment	6,452	7,013
With an allowance recorded:
Recorded Investment	560	662
Unpaid Principal Balance	568	683
Related Allowance	370	153
Average Recorded Investment	634	634
Total:
Recorded Investment	6,287	6,335
Unpaid Principal Balance	8,154	8,146
Related Allowance	370	153
Average Recorded Investment	7,086	7,647
Commercial real estate | Non-residential
With no related allowance recorded:
Recorded Investment	1,926	1,944
Unpaid Principal Balance	2,963	2,973
Average Recorded Investment	2,569	3,086
Total:
Recorded Investment	1,926	1,944
Unpaid Principal Balance	2,963	2,973
Average Recorded Investment	2,569	3,086
Commercial real estate | Multifamily
With no related allowance recorded:
Average Recorded Investment	92	184
Total:
Average Recorded Investment	92	184
Residential Real Estate
With no related allowance recorded:
Recorded Investment	2,584	2,641
Unpaid Principal Balance	3,064	3,086
Average Recorded Investment	2,616	2,554
Total:
Recorded Investment	2,584	2,641
Unpaid Principal Balance	3,064	3,086
Average Recorded Investment	2,616	2,554
Commercial and industrial
With no related allowance recorded:
Recorded Investment	563	345
Unpaid Principal Balance	847	586
Average Recorded Investment	441	426
With an allowance recorded:
Recorded Investment	307	21
Unpaid Principal Balance	307	21
Related Allowance	296	11
Average Recorded Investment	30	30
Total:
Recorded Investment	870	366
Unpaid Principal Balance	1,154	607
Related Allowance	296	11
Average Recorded Investment	471	456
Consumer | Indirect automobile
With no related allowance recorded:
Recorded Investment	159	397
Unpaid Principal Balance	211	467
Average Recorded Investment	247	293
With an allowance recorded:
Recorded Investment	253	593
Unpaid Principal Balance	261	613
Related Allowance	74	135
Average Recorded Investment	591	591
Total:
Recorded Investment	412	990
Unpaid Principal Balance	472	1,080
Related Allowance	74	135
Average Recorded Investment	838	884
Consumer | Home equity
With no related allowance recorded:
Recorded Investment	435	346
Unpaid Principal Balance	441	351
Average Recorded Investment	452	449
Total:
Recorded Investment	435	346
Unpaid Principal Balance	441	351
Average Recorded Investment	452	449
Consumer | Other consumer
With no related allowance recorded:
Recorded Investment	60
Unpaid Principal Balance	60
Average Recorded Investment	35	21
With an allowance recorded:
Recorded Investment		48
Unpaid Principal Balance		49
Related Allowance		7
Average Recorded Investment	13	13
Total:
Recorded Investment	60	48
Unpaid Principal Balance	60	49
Related Allowance		7
Average Recorded Investment	$ 48	$ 34

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
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Allowance for loan losses:
Beginning balance	$ 11,633	$ 5,954
(Credit to) provision for loan losses	(69)	1,200
Loans charged-off	(629)	(764)
Recoveries	326	230
Ending balance	11,261	6,620
Allowance for loan losses:
Ending balance: Individually evaluated for impairment	370	65	$ 153
Ending balance: Collectively evaluated for impairment	10,891	6,555	11,480
Loan receivables:
Ending balance	872,709		876,616
Ending balance: Individually evaluated for impairment	6,287		6,335
Ending balance: Collectively evaluated for impairment	866,422		870,281
Indirect automobile
Allowance for loan losses:
Beginning balance	4,974	3,117
(Credit to) provision for loan losses	857	1,012
Loans charged-off	(626)	(711)
Recoveries	307	220
Ending balance	5,512	3,638
Allowance for loan losses:
Ending balance: Individually evaluated for impairment	74	65	135
Ending balance: Collectively evaluated for impairment	5,438	3,573	4,839
Loan receivables:
Ending balance	365,741		376,260
Ending balance: Individually evaluated for impairment	412		990
Ending balance: Collectively evaluated for impairment	365,329		375,270
Commercial real estate
Allowance for loan losses:
Beginning balance	5,354	2,009
(Credit to) provision for loan losses	(1,192)	144
Ending balance	4,162	2,153
Allowance for loan losses:
Ending balance: Collectively evaluated for impairment	4,162	2,153	5,354
Loan receivables:
Ending balance	285,701		284,120
Ending balance: Individually evaluated for impairment	1,926		1,944
Ending balance: Collectively evaluated for impairment	283,775		282,176
Residential Real Estate
Allowance for loan losses:
Beginning balance	117	99
(Credit to) provision for loan losses	11
Recoveries	3
Ending balance	131	99
Allowance for loan losses:
Ending balance: Collectively evaluated for impairment	131	99	117
Loan receivables:
Ending balance	37,477		39,239
Ending balance: Individually evaluated for impairment	2,584		2,641
Ending balance: Collectively evaluated for impairment	34,893		36,598
Commercial and industrial
Allowance for loan losses:
Beginning balance	1,050	603
(Credit to) provision for loan losses	269	31
Loans charged-off		(38)
Recoveries		5
Ending balance	1,319	601
Allowance for loan losses:
Ending balance: Individually evaluated for impairment	296		11
Ending balance: Collectively evaluated for impairment	1,023	601	1,039
Loan receivables:
Ending balance	161,908		154,016
Ending balance: Individually evaluated for impairment	870		366
Ending balance: Collectively evaluated for impairment	161,038		153,650
Consumer
Allowance for loan losses:
Beginning balance	138	126
(Credit to) provision for loan losses	(14)	13
Loans charged-off	(3)	(15)
Recoveries	16	5
Ending balance	137	129
Allowance for loan losses:
Ending balance: Individually evaluated for impairment			7
Ending balance: Collectively evaluated for impairment	137	$ 129	131
Loan receivables:
Ending balance	21,882		22,981
Ending balance: Individually evaluated for impairment	495		394
Ending balance: Collectively evaluated for impairment	21,387		22,587
Consumer | Indirect automobile
Loan receivables:
Ending balance	$ 365,741		$ 376,260

Loans and Allowance for Loan _8

Loans and Allowance for Loan Losses (Narrative) (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021USD ($)loan	Dec. 31, 2020USD ($)loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amount of loan	$ 1,534	$ 1,571
Number of loans default | loan	3	3
Number of new loans default | loan	0	0
Balance of capitalized servicing rights	$ 2,518	$ 2,390
Aggregate balances of loans serviced to third party	309,851	300,700
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	$ 2,426	$ 2,718

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Schedule of changes in the carrying value of goodwill) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Goodwill and Intangible Assets
Beginning balance	$ 1,410	$ 1,410
Acquisition activity	825
Ending balance	2,235	1,410
Accumulated impairment	1,116	1,116
Impairment loss on goodwill	$ 0	$ 0

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets (Schedule of changes in the carrying value of customer list and core deposit intangibles) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Finite-lived Intangible Assets [Roll Forward]
Beginning balance	$ 199	$ 241	$ 241
Acquisition activity	330
Amortization	(13)	(11)	(11)
Ending balance	515	230	$ 199
Accumulated amortization and impairment	$ 708	$ 695

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Goodwill and Intangible Assets
Amortization of Intangible Assets	$ 13	$ 11	$ 11
Useful life of purchased customer accounts	13 years

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets (Schedule of future amortization expense for amortizable intangible assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Goodwill and Intangible Assets
2021	$ 81
2022	99
2023	88
2024	80
2025	61
Thereafter	106
Total	$ 515	$ 199	$ 230	$ 241

Premises and Equipment (Schedul

Premises and Equipment (Schedule of premises and equipment) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Total	$ 43,713	$ 43,298
Less accumulated depreciation	(24,780)	(24,459)
Net	18,933	18,839
Land
Property, Plant and Equipment [Line Items]
Total	3,732	3,732
Buildings and improvements
Property, Plant and Equipment [Line Items]
Total	26,431	26,431
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Total	13,118	13,042
Construction in progress
Property, Plant and Equipment [Line Items]
Total	$ 432	$ 93

Deposits (Schedule of deposits)

Deposits (Schedule of deposits) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Deposits
Noninterest bearing demand deposits	$ 272,617	$ 244,344
Interest bearing accounts:
NOW	144,542	141,580
Savings	170,041	157,414
Money market	228,727	185,383
Time certificates of deposit	192,109	200,643
Total interest bearing accounts	735,419	685,020
Total deposits	$ 1,008,036	$ 929,364

Deposits (Schedule of contractu

Deposits (Schedule of contractual maturities of time certificates of deposit) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Deposits
Within 1 year	$ 150,372
1 - 2 years	18,897
2 - 3 years	8,813
3 - 4 years	8,915
4 - 5 years	5,112
Total	$ 192,109	$ 200,643

Deposits (Narrative) (Details)

Deposits (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Deposits [Line Items]
Reciprocal deposits	$ 20,693	$ 30,012
Time certificates of deposit in denominations of $250 or greater	$ 31,250	$ 34,565
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	Mar. 31, 2021USD ($)
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Principal amount	$ 36,468
Rate	2.16%
Due in one year	$ 20,540
Long term	15,928
2 year amortizing on May 17, 2021
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Principal amount	$ 1,278
Rate	2.53%
Due in one year	$ 1,278
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	$ 867
Rate	2.92%
Due in one year	$ 867
Long term	0
3 year amortizing on May 16, 2022
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Principal amount	$ 4,257
Rate	2.49%
Due in one year	$ 3,395
Long term	862
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	$ 10,066
Rate	1.32%
Due in one year	$ 5,000
Long term	$ 5,066

Long-Term Debt and FHLB Stock_3

Long-Term Debt and FHLB Stock (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2005
Long-Term Debt And Federal Home Loan Bank [Line Items]
Advances from Federal Home Loan Banks	$ 36,468		$ 50,674
Common stock, par value (in dollars per share)	$ 0.01		$ 0.01
Funding received	$ (12,093)	$ 2,861
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
Subordinated Debt.
Long-Term Debt And Federal Home Loan Bank [Line Items]
Interest rate, variable rate basis	3-month LIBOR
Interest rate	2.18%		2.21%
Subordinated debt securities	$ 5,155
Stated maturity date	May 23, 2035
Subordinated Debt. | LIBOR
Long-Term Debt And Federal Home Loan Bank [Line Items]
Interest LIBOR rate	2.00%
Subordinated Debt. | RSB Capital Trust I
Long-Term Debt And Federal Home Loan Bank [Line Items]
Interest rate, variable rate basis	3-month LIBOR
Trust term	30 years
Subordinated Debt. | RSB Capital Trust I | LIBOR
Long-Term Debt And Federal Home Loan Bank [Line Items]
Interest LIBOR rate	2.00%
Subordinated Debt. | Private placement | RSB Capital Trust I
Long-Term Debt And Federal Home Loan Bank [Line Items]
Number of preferred securities issued				$ 5,000
Common stock issued				155
Common stock, par value (in dollars per share)				$ 1
Federal Home Loan Bank of New York ("FHLBNY")
Long-Term Debt And Federal Home Loan Bank [Line Items]
Line of credit, maximum borrowing capacity	$ 598,415		$ 564,330
Amount of pledged assets	179,783		175,011
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	Mar. 31, 2021	Dec. 31, 2020
Employee Benefits
Projected and accumulated benefit obligation	$ (22,591)	$ (23,964)
Plan assets at fair value	21,267	22,634
Funded status included in accrued expenses and other liabilities	$ (1,324)	$ (1,330)

Employee Benefits (Schedule o_2

Employee Benefits (Schedule of net periodic pension (benefit) cost and amounts recognized in other comprehensive income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Employee Benefits
Interest cost	$ 147	$ 167
Expected return on plan assets	(236)	(264)
Amortization of unrecognized loss	90	71
Net periodic cost (benefit)	$ 1	$ (26)

Employee Benefits (Schedule o_3

Employee Benefits (Schedule of fair value of pension plan assets, by fair value hierarchy) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	$ 21,267	$ 22,634
Defined Benefit Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	21,267	22,634
Defined Benefit Pension Plan | Investment in separate accounts fixed income
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	15,456	15,189
Defined Benefit Pension Plan | Investment in separate accounts equity
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	5,406	6,206
Defined Benefit Pension Plan | Investment in separate accounts other
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	405	1,239
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	21,267	22,634
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	15,456	15,189
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	5,406	6,206
Quoted Prices in Active Markets for Identical Assets (Level 1) | Defined Benefit Pension Plan | Investment in separate accounts other
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	$ 405	$ 1,239

Employee Benefits (Various Bene

Employee Benefits (Various Benefits - Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)fund	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)
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	3
Number of real estate funds | fund	1
Accrued expenses and other liabilities	$ 21,243		$ 18,643
Non interest expense	7,953	$ 7,299
Employer contribution in defined contribution plan	255	246
Postretirement Life Insurance [Member]
Schedule Of Employee Benefits [Line Items]
Liability related to these postretirement benefits	1,398		1,387
Postemployment benefit expense	11	14
Postemployment Retirement Benefits [Member]
Schedule Of Employee Benefits [Line Items]
Non interest expense	18	22
Liability related to these postretirement benefits	1,960		2,148
Officer [Member] | Deferred Compensation, Share-based Payments [Member]
Schedule Of Employee Benefits [Line Items]
Accrued expenses and other liabilities	1,330		1,312
Non interest expense	69	149
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	2,602		$ 2,483
Non interest expense	$ 46	$ 10
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 (Schedule o_4

Employee Benefits (Schedule of employee stock ownership plan) (Details) - shares	Mar. 31, 2021	Dec. 31, 2020
Employee Benefits
Allocated	43,642	21,821
Committed to be allocated	5,454	21,821
Unallocated	387,329	392,783
Paid out to participants	(68)	(68)
Total shares	436,357	436,357

Employee Benefits (Employee Sto

Employee Benefits (Employee Stock Ownership Plan (ESOP) Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 01, 2021	Jan. 16, 2019	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Number of share purchase under ESOP			436,357		436,357
Committed to be allocated			5,454		21,821
Compensation expense			$ 52	$ 55
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	3.25%
Balance of ESOP loan			$ 4,087
Committed to be allocated			21,821
Fair value of unallocated shares			$ 4,009
Compensation expense			$ 52	$ 55

Employee Benefits (Share-Based

Employee Benefits (Share-Based Compensation Plan Narrative) (Details) - 2020 EIP - USD ($) $ in Thousands	May 26, 2020	Mar. 31, 2021
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
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		97,146
Aggregate intrinsic value of options		$ 1,675
Period for Recognition		2 years 4 months 28 days
Unrecognized compensation cost related to the nonvested restricted stock awards granted		$ 600
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
Period for Recognition		2 years 4 months 24 days
Unrecognized compensation cost related to the nonvested restricted stock awards granted		$ 893
Allocated share-based compensation expense		$ 153

Employee Benefits (Summary of o

Employee Benefits (Summary of options) (Details) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Weighted - Average Exercise Price
End of period	$ 7.90
2020 EIP | Stock options
Shares
Options outstanding at beginning of year	448,385
Options outstanding at March 31, 2021	448,385	448,385
Weighted - Average Exercise Price
Beginning of year	$ 6.61
End of period	$ 6.61	$ 6.61
Weighted-Average Contractual Term
Weighted-Average Contractual Term, Outstanding	6 years	6 years

Employee Benefits (Summary of C

Employee Benefits (Summary of Company’s restricted stock activity) (Details) - Restricted stock	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Number of shares
Balance at beginning of period (in shares) | shares	169,769
Granted (in shares) | shares
Vested (in shares) | shares
Forfeited (in shares) | shares
Balance at end of period (in shares) | shares	169,769
Weighted-Average Grant Date Fair Value per Share
Balance at beginning of period (in dollars per share) | $ / shares	$ 6.57
Granted (in dollars per share) | $ / shares
Vested (in dollars per share) | $ / shares
Forfeited (in dollars per share) | $ / shares
Balance at end of period (in dollars per share) | $ / shares	$ 6.57

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)item	Dec. 31, 2020USD ($)
Leases
Number of leased branch offices | item	10
Weighted average remaining life of the lease terms	13 years 1 month 6 days
Weighted average discount rate	2.56%
Operating lease costs	$ 155
Deferred rent liability	166	$ 176
Operating lease right-of-use asset	$ 7,882
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other Assets.
Operating lease liability	$ 7,882
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	Mar. 31, 2021USD ($)
Leases
2021	$ 594
2022	754
2023	732
2024	729
2025	743
Thereafter	5,822
Total future minimum lease payments	9,374
Amounts representing interest	(1,492)
Present Value of Net Future Minimum Lease Payments	$ 7,882

Commitments and Contingencies_3

Commitments and Contingencies and Derivatives (Schedule of contract amounts represent off-balance sheet credit risk) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Asset	$ 83,162	$ 98,127
Future loan commitments
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Asset	7,575	14,356
Undisbursed construction loans
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Asset	3,174	3,493
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	10,337	10,686
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	58,578	63,911
Standby letters of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Asset	$ 3,498	$ 5,681

Commitments and Contingencies_4

Commitments and Contingencies and Derivatives (Schedule of information regarding derivatives) (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021USD ($)contract	Dec. 31, 2020USD ($)contract	Mar. 31, 2020USD ($)
Derivative [Line Items]
Accrued interest receivable	$ 3,840	$ 3,819
Interest rate swap
Derivative [Line Items]
Notional amount	3,966	1,875
Fair value	$ 120	$ 41
Weighted average pay rates	3.38%	3.10%
Weighted average receive rates	2.21%	2.22%
Weighted average maturity (in years)	9 years 9 months 22 days	9 years 11 months 1 day
Number of Contracts | contract	3	1
Interest rate swap | Other assets
Derivative [Line Items]
Accrued interest receivable	$ 2
Interest rate swap | Other liabilities
Derivative [Line Items]
Accrued interest payable			$ 0

Regulatory Matters (Schedule of

Regulatory Matters (Schedule of actual capital amounts and ratios) (Details) - Rhinebeck Bank - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total capital (to risk-weighted assets) Actual Amount	$ 124,108	$ 121,604
Total capital (to risk-weighted assets) Actual Ratio	14.38%	13.97%
Total capital (to risk-weighted assets) For Capital Adequacy Purposes Amount	$ 69,040	$ 69,614
Total capital (to risk-weighted assets) For Capital Adequacy Purposes Ratio	8.00%	8.00%
Total capital (to risk-weighted assets) To be Well Capitalized under Prompt Corrective Action Provisions Amount	$ 86,300	$ 87,018
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	$ 113,315	$ 110,717
Tier 1 capital (to risk-weighted assets) Actual Ratio	13.13%	12.72%
Tier 1 capital (to risk-weighted assets) For Capital Adequacy Purposes Amount	$ 51,780	$ 52,211
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	$ 69,040	$ 69,614
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	$ 113,315	$ 110,717
Common equity tier one capital (to risk weighted assets) Actual Ratio	13.13%	12.72%
Common equity tier one capital (to risk weighted assets) For Capital Adequacy Purposes Amount	$ 38,835	$ 39,158
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	$ 56,095	$ 56,562
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	$ 113,315	$ 110,717
Tier 1 capital (to average assets) Actual Ratio	9.88%	9.95%
Tier 1 capital (to average assets) For Capital Adequacy Purposes Amount	$ 45,880	$ 44,529
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	$ 57,351	$ 55,662
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	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 175,580	$ 96,472
Total liabilities	120	41
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	45,299
U.S. government agency mortgage-backed securities-residential
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	112,094	89,270
U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	6,108	7,161
Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	5,480	1,476
Corporate Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	5,900	4,446
Other Debt Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	579	580
Available for sale securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	175,460	96,431
Loan level interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	120	41
Total liabilities	120	41
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	45,299
Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	45,299
Quoted Prices in Active Markets for Identical Assets (Level 1) | Available for sale securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	45,299
Significant Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	130,121	96,472
Total liabilities	120	41
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 assets	112,094	89,270
Significant Observable Inputs (Level 2) | U.S. government agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	6,108	7,161
Significant Observable Inputs (Level 2) | Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	5,320	1,316
Significant Observable Inputs (Level 2) | Corporate Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	5,900	4,446
Significant Observable Inputs (Level 2) | Other Debt Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	579	580
Significant Observable Inputs (Level 2) | Available for sale securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	130,001	96,431
Significant Observable Inputs (Level 2) | Loan level interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	120	41
Total liabilities	120	41
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	160
Significant Unobservable Inputs (Level 3) | Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	160	$ 160
Significant Unobservable Inputs (Level 3) | Available for sale securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 160

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	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held at fair value	$ 279	$ 648
Impaired loans, with specific reserves
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held at fair value	190	509
Other real estate owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held at fair value	89	139
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	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	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	279	648
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	190	509
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	190	509
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	$ 89	$ 139

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	3 Months Ended	12 Months Ended
	Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets held at fair value	$ 279	$ 648
Other real estate owned
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets held at fair value	89	139
Significant Unobservable Inputs (Level 3)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets held at fair value	$ 279	$ 648
Impaired Loans, Valuation Technique [Extensible List]	Appraisal of collateral	Appraisal of collateral
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	$ 190	$ 509
Significant Unobservable Inputs (Level 3) | Other real estate owned
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets held at fair value	$ 89	$ 139
Significant Unobservable Inputs (Level 3) | Appraisal of collateral | Liquidation expenses | Minimum | Impaired loans
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impaired loans, unobservable input (in percent)	0	0
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)	0	0
Significant Unobservable Inputs (Level 3) | Appraisal of collateral | Liquidation expenses | Maximum | Impaired loans
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impaired loans, unobservable input (in percent)	0.06	0.06
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)	0.06	0.06
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)	0	0
Significant Unobservable Inputs (Level 3) | Appraisal of collateral | Appraisal adjustments | Minimum | Other real estate owned
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other real estate owned, unobservable input (in percent)	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)	0.20	0.20
Significant Unobservable Inputs (Level 3) | Appraisal of collateral | Appraisal adjustments | Maximum | Other real estate owned
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other real estate owned, unobservable input (in percent)	0.20	0.20

Fair Value (Schedule of carryin

Fair Value (Schedule of carrying value and fair values of the financial instruments) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Quoted Prices in Active Markets for Identical Assets (Level 1) | Carrying Value
Financial Assets:
Cash and due from banks (Level 1)	$ 89,833	$ 93,485
Available for sale securities (Level 1, 2 and 3)	45,299
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value.
Financial Assets:
Cash and due from banks (Level 1)	89,833	93,485
Available for sale securities (Level 1, 2 and 3)	45,299
Significant Observable Inputs (Level 2) | Carrying Value
Financial Assets:
Available for sale securities (Level 1, 2 and 3)	130,001	102,773
Loan level interest rate swaps (Level 2)	120	41
FHLB stock (Level 2)	2,143	2,787
Financial Liabilities:
Deposits (Level 2)	1,008,036	929,364
Mortgagors escrow accounts (Level 2)	7,280	8,494
FHLB advances (Level 2)	36,468	50,674
Subordinated debt (Level 2)	5,155	5,155
Loan level interest rate swaps (Level 2)	120	41
Significant Observable Inputs (Level 2) | Fair Value.
Financial Assets:
Available for sale securities (Level 1, 2 and 3)	130,001	102,773
Loan level interest rate swaps (Level 2)	120	41
FHLB stock (Level 2)	2,143	2,787
Financial Liabilities:
Deposits (Level 2)	973,447	941,460
Mortgagors escrow accounts (Level 2)	7,286	8,501
FHLB advances (Level 2)	37,021	51,468
Subordinated debt (Level 2)	5,155	5,155
Loan level interest rate swaps (Level 2)	120	41
Significant Unobservable Inputs (Level 3) | Carrying Value
Financial Assets:
Available for sale securities (Level 1, 2 and 3)	160	160
Loans, net (Level 3)	868,737	873,813
Mortgage servicing rights (Level 3)	2,518	2,390
Significant Unobservable Inputs (Level 3) | Fair Value.
Financial Assets:
Available for sale securities (Level 1, 2 and 3)	160	160
Loans, net (Level 3)	859,784	876,699
Mortgage servicing rights (Level 3)	$ 4,422	$ 3,569

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Schedule of accumulated other comprehensive loss activity) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ 116,499	$ 109,882
Balance	$ 118,856	$ 113,897
Income tax rate	21.00%	21.00%
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ (3,791)	$ (4,104)
Other comprehensive (loss) gain before reclassifications	(1,240)	2,806
Amounts reclassified from accumulated other comprehensive loss	71	79
Period change	(1,169)	2,885
Balance	(4,960)	(1,219)
AOCL Defined Benefit Pension Plan
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(4,784)	(3,909)
Other comprehensive (loss) gain before reclassifications	(70)	222
Amounts reclassified from accumulated other comprehensive loss	71	56
Period change	1	278
Balance	(4,783)	(3,631)
AOCL Unrealized (losses) gains on available for sale securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	993	(195)
Other comprehensive (loss) gain before reclassifications	(1,170)	2,584
Amounts reclassified from accumulated other comprehensive loss		23
Period change	(1,170)	2,607
Balance	$ (177)	$ 2,412

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income applicable to common stock	$ 3,321	$ 1,075
Average number of common shares outstanding	11,133,290	11,133,290
Less: Average unearned ESOP shares	390,056	411,877
Average number of common shares outstanding used to calculate basic earnings per common share	10,743,234	10,721,413
Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share	10,875,116	10,721,413
Earnings per Common share:
Basic (in dollars per share)	$ 0.31	$ 0.10
Diluted (in dollars per share)	$ 0.31	$ 0.10
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	15,000	0
Nonvested options outstanding at an average weighted price (in dollars per share)	$ 7.90
Non vested Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share	61,332
Stock options
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share	70,550