0000943374-21-000069.txt : 20210204 0000943374-21-000069.hdr.sgml : 20210204 20210204120913 ACCESSION NUMBER: 0000943374-21-000069 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20210204 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20210204 DATE AS OF CHANGE: 20210204 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Rhinebeck Bancorp, Inc. CENTRAL INDEX KEY: 0001751783 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTIONS, NOT FEDERALLY CHARTERED [6036] IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-38779 FILM NUMBER: 21589972 BUSINESS ADDRESS: STREET 1: 2 JEFFERSON PLAZA CITY: POUGHKEEPSIE STATE: NY ZIP: 12601 BUSINESS PHONE: 845-454-8555 MAIL ADDRESS: STREET 1: 2 JEFFERSON PLAZA CITY: POUGHKEEPSIE STATE: NY ZIP: 12601 8-K 1 form8k.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): February 4, 2021

Rhinebeck Bancorp, Inc.
(Exact Name of Registrant as Specified in Charter)

Maryland
    
001-38779
  
83-2117268
(State or Other Jurisdiction
    
(Commission File No.)
  
(I.R.S. Employer
of Incorporation)
    
Identification No.)
   
 
2 Jefferson Plaza, Poughkeepsie, New York
  
12601
 
(Address of Principal Executive Offices)
  
(Zip Code)


Registrant’s telephone number, including area code: (845) 454-8555

Not Applicable
(Former name or former address, if changed since last report)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

□
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
□
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
□
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
□
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class
  
Trading
Symbol(s)
  
Name of each exchange on which registered
Common Stock, par value $0.01 per share
  
RBKB
  
The NASDAQ Stock Market, LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).     Emerging growth company  ☒
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 8.01 Other Events.

On February 4, 2021, Rhinebeck Bancorp, Inc. (the “Company”) issued a press release announcing that its wholly-owned subsidiary, Rhinebeck Bank, had received all required regulatory approvals to acquire two Orange County, New York branches from ConnectOne Bank, the wholly-owned subsidiary of ConnectOne Bancorp, Inc. The acquisition is expected to be completed on March 12, 2021. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Number Description

   99.1 Press Release dated February 4, 2021


SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.


 
RHINEBECK BANCORP, INC.
   
   
   
DATE: February 4, 2021
By:      /s/ Michael J. Quinn
 
Michael J. Quinn
 
President and Chief Executive Officer


EX-99.1 2 ex99-1.htm EXHIBIT 99.1 PRESS RELEASE DATED FEBRUARY 4, 2021
Exhibit 99.1

Rhinebeck Bank Receives Regulatory Approval to Continue Orange County Expansion
   With Monroe And Warwick Branch Acquisitions

FOR IMMEDIATE RELEASE

Poughkeepsie, New York (February 4, 2021) – Rhinebeck Bancorp, Inc., (NASDAQ: RBKB), the holding company of Rhinebeck Bank, has received all required regulatory approvals to acquire two Orange County, New York branches from ConnectOne Bank, headquartered in Englewood Cliffs, NJ. The branches at 360 Route 17M in Monroe and 62 Main Street (Suite 1) in Warwick will become Rhinebeck Bank branches after the close of business on Friday, March 12 and will open Monday, March 15, as part of the Rhinebeck Bank system.

The new branches will provide individuals, families, and businesses with a full complement of banking and lending services. Rhinebeck Asset Management, a division of Rhinebeck Bank, will provide a variety of personal and business financial planning services from their offices at these new branch locations.

“The opening of our new Warwick and Monroe branches is a critical part of our Orange County expansion efforts,” said Rhinebeck Bank President and CEO Michael J. Quinn. “We’re committed to delivering superior customer service to which these branch customers are accustomed. We welcome them and look forward to serving their financial needs for years to come.”

The Monroe Branch Team Leader is Nabeel Farooqi. Justine Dooley, who previously served as Branch Team Leader at the Bank’s Goshen branch, has been promoted to Branch Manager at the new Warwick location. She is joined by Branch Team Leader Diane Milo.

Diane Passaro, Vice President – Orange County Market Manager, an Orange County banking and lending veteran who joined Rhinebeck Bank last year, will oversee branch operations at both locations and pursue additional Orange County growth opportunities.

“We’re excited to welcome these new customers into the Rhinebeck Bank family,” said Mark Malone, Senior Vice President, Retail Banking. “Our Monroe and Warwick branch teams look forward to forging strong relationships with customers transitioning to us from ConnectOne Bank.”

Our new customers can learn more about the branch conversion by visiting www.RhinebeckBank.com/CNOB.

The Monroe and Warwick branches are the second and third Rhinebeck Bank locations in Orange County, following the opening of a branch office in Goshen in 2016. Rhinebeck Asset Management is headquartered in the Orange County town of Montgomery.

About Rhinebeck Bank

For more than 160 years, Rhinebeck Bank has been an integral part of the area’s economic growth and a driving force for commerce along the Hudson River. Rhinebeck Bank takes pride in being personally involved in local businesses, communities, and charitable organizations. Its ability to be responsive to the needs of their customers and community has led to continued growth. For more information about Rhinebeck Bank or any of its products or services, please visit www.RhinebeckBank.com.

Forward-Looking Statements

The statements contained herein that are not historical facts are forward-looking statements (as defined by the Private Securities Litigation Reform Act of 1995) based on management’s current expectations and beliefs concerning future developments and their potential effects on Rhinebeck Bancorp. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of Rhinebeck Bancorp.  There can be no assurance that future developments affecting Rhinebeck Bancorp will be the same as those anticipated by management.  These statements are evidenced by terms such as “anticipate,” “estimate,” “should,” “expect,” “believe,” “intend,” and similar expressions.  Although these statements reflect management’s good faith beliefs and projections, they are not guarantees of future performance and they may not prove true.  These projections involve risk and uncertainties that could cause actual results to differ materially from those addressed in the forward-looking statements.  Readers should not place under reliance on such forward-looking statements, which speak only as of the date made.  For a discussion of these risks and uncertainties, see the section of the periodic reports filed by Rhinebeck Bancorp with the Securities and Exchange Commission entitled “Risk Factors.”

We specifically disclaim any obligation to update any factors or to publicly announce the result of revisions to any of the forward-looking statements included herein to reflect future events or developments.

Investor Contact:

RHINEBECK BANK CONTACT: Michael J. Quinn, President and Chief Executive Officer
TELEPHONE: (845) 790-1501