Rhinebeck Bancorp, Inc. Earnings Per Share Disclosure
17. 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.
Year Ended December 31, | ||||||
2025 | 2024 | |||||
Net income (loss) applicable to common stock | $ | 10,045 | $ | (8,620) | ||
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Average number of common shares outstanding |
| 11,100,624 |
| 11,074,170 | ||
Less: Average unearned ESOP shares |
| 294,603 |
| 316,420 | ||
Average number of common shares outstanding used to calculate basic earnings per common share |
| 10,806,021 |
| 10,757,750 | ||
Additional common stock equivalents (nonvested stock) used to calculate diluted earnings per share | 5,423 | — | ||||
Additional common stock equivalents (stock options) used to calculate diluted earnings per share | 145,984 | — | ||||
Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share | 10,957,428 | 10,757,750 | ||||
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Earnings (loss) per common share: |
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Basic | $ | 0.93 | $ | (0.80) | ||
Diluted (1) | $ | 0.92 | $ | (0.80) | ||
(1) Because the Company was in a net loss position for the year ended December 31, 2024, diluted net loss per share is the same as basic net loss per share, as the inclusion of potentially dilutive common shares would have been anti-dilutive. The weighted average anti-dilutive common shares not included in the calculation of diluted earnings per share were 97,954.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 13, 2026 | Showing above |
| 2024 | Mar 25, 2025 | |
| 2023 | Mar 26, 2024 | |
| 2022 | Mar 23, 2023 | |
| 2021 | Mar 22, 2022 | |
| 2020 | Mar 25, 2021 | |
| 2019 | Mar 26, 2020 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.