Rhinebeck Bancorp, Inc. Announces Commencement of Stock Offering

About this update from Rhinebeck Bancorp, Inc.

POUGHKEEPSIE, NY / ACCESS Newswire / May 26, 2026 / Rhinebeck Bancorp, Inc. ("Rhinebeck Bancorp") (NASDAQ:RBKB), the holding company for Rhinebeck Bank (the "Bank"), announced that Rhinebeck Bancorp has commenced its stock offering in connection with the proposed "second-step" conversion of Rhinebeck Bancorp, MHC from the mutual holding company to the stock holding company form of organization. Rhinebeck Bancorp is offering for sale up to 8,912,500 shares of its common stock at a purchase price of $10.00 per share. The shares are being offered for sale in a subscription offering to eligible depositors of the Bank and to the Bank's tax-qualified employee benefit plans. Any shares of common stock not subscribed for in the subscription offering may be offered for sale to the general public in a community offering, with a preference givenfirst to natural persons (including trusts of natural persons) residing in Albany, Dutchess, Orange and Ulster Counties in New York, second to existing stockholders of Rhinebeck Bancorp as of the close of business on April 30, 2026, and then to the general public. Rhinebeck Bancorp must sell at least 6,587,500 shares of its common stock in the offering to complete the conversion. Completion of the conversion and offering is also subject to the receipt of final regulatory approvals, the approvals of Rhinebeck Bancorp stockholders and Rhinebeck Bank depositors, and the satisfaction of other customary closing conditions. Keefe Bruyette & Woods, Inc. is acting as marketing agent for Rhinebeck Bancorp in connection with the offering. All questions concerning the conversion and the offering or requests for offering materials should be directed to the Stock Information Center at (877) 643-8198 (toll-free). The Stock Information Center will be open Monday through Friday between 10:00 a.m. and 4:00 p.m., Eastern time, beginning on May 26, 2026. The Stock Information Center will be closed on bank holidays. This press release is neither an offer to sell nor a solicitation of an offer to buy any securities of Rhinebeck Bancorp. Offers are made only by means of Rhinebeck Bancorp's prospectus when accompanied by a stock order form. The shares of common stock of Rhinebeck Bancorp are not savings accounts or savings deposits, may lose value and are not insured by the Federal Deposit Insurance Corpora...

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