Rhinebeck Bancorp, Inc. Announces Commencement of Stock Offering

Rhinebeck Bancorp, Inc. announced the commencement of a public offering of up to 8,912,500 shares of its common stock at $10.00 per share. This offering is part of the company's conversion from a mutual holding company to a stock holding company. The shares are initially offered to eligible depositors and employee benefit plans, with subsequent offerings to the general public in specific counties and to existing stockholders. The conversion requires the sale of at least 6,587,500 shares and is subject to regulatory and stockholder approvals. Keefe Bruyette & Woods, Inc. is acting as the marketing agent for the offering. The company has filed a registration statement on Form S-1 with the SEC, which includes a proxy statement and prospectus, and urges stockholders to review these documents for important information regarding the transaction. Rhinebeck Bancorp, Inc. is the bank holding company for Rhinebeck Bank, a New York-chartered stock savings bank.