Rhinebeck Bancorp, Inc. announced the results of its subscription offering related to the mutual-to-stock conversion of Rhinebeck Bancorp, MHC. The offering was oversubscribed in the first tier by eligible depositors. Upon completion, existing shareholders will receive 1.3978 shares of new common stock for each existing share held, with cash in lieu of fractional shares paid at $10.00 per share. The company expects to have 15,638,237 shares outstanding following the transaction. The conversion and offering are expected to close on July 21, 2026, with new shares anticipated to trade on the Nasdaq under the symbol RBKB on July 22, 2026. Rhinebeck Bancorp, Inc. is a bank holding company providing financial services through Rhinebeck Bank.
