Rhinebeck Bancorp, Inc., the holding company for Rhinebeck Bank, has announced plans to undertake a corporate reorganization through a "second step" conversion. The company’s parent, Rhinebeck Bancorp, MHC, will convert from a mutual holding company to a stock holding company. As part of this process, the MHC, which currently owns about 57% of Rhinebeck Bancorp’s outstanding shares, will merge into the company and cease to exist. Shares representing the MHC’s ownership will be offered for sale to bank depositors and others, with priority given to eligible account holders as of December 31, 2024. Minority stockholders’ shares will be exchanged for new shares to maintain their proportional ownership. The transaction is expected to close in the third quarter of 2026, pending regulatory and shareholder approvals.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Rhinebeck Bancorp Inc. published the original content used to generate this news brief via ACCESS Newswire (Ref. ID: 1135566) on February 10, 2026, and is solely responsible for the information contained therein.