RBKB news

Rhinebeck Bancorp reported Q2 2026 net income of $2.6 million and completed its second-step conversion in July, generating $88.8 million in gross proceeds, though its ROA and ROE declined slightly year-over-year.

Rhinebeck Bancorp announced the completion of a second-step conversion to a fully public stock holding company, raising $88.8 million in the process. The transaction results in 15.6 million shares of common stock outstanding.

Rhinebeck Bancorp reports its subscription offering for the mutual-to-stock conversion was oversubscribed, with completion expected on July 21. The transaction will increase shares outstanding and maintain the RBKB ticker on Nasdaq.

Rhinebeck Bancorp stockholders voted to approve the conversion to a public holding company. This milestone remains contingent upon final regulatory clearances and the successful sale of shares to maintain liquidity.

Rhinebeck Bancorp began offering up to 8.9 million shares at $10 per share to complete its conversion from mutual to stock holding company form. The offering requires minimum subscription of 6.6 million shares and is subject to regulatory approvals and shareholder votes.