Financing ·
Rhinebeck Bancorp, Inc. reported second quarter 2026 net income of $2.6 million ($0.24 per diluted share), a 4.0%…
RBKBRhinebeck Bancorp, Inc.
Rhinebeck Bancorp, Inc. reported second quarter 2026 net income of $2.6 million ($0.24 per diluted share), a 4.0% decrease from $2.7 million in the prior year period. The company completed its second-step conversion on July 21, 2026, following the dissolution of its mutual holding company parent. This conversion included a public stock offering of 8,880,210 shares at $10.00 per share, generating $88.8 million in gross proceeds. Existing public stockholders received 1.3978 new shares for each share held, with fractional shares paid in cash at $10.00 per share. Post-transaction, the company expects approximately 15,638,237 shares outstanding. Rhinebeck Bancorp, Inc. is a financial services company operating as a bank holding company.