Rhinebeck Bancorp, Inc. Announces Retirement of Michael J. McDermott as Chief Financial Officer, Effective May 31, 2024
January 31, 2024 at 04:02 pm EST
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On January 31, 2024, Rhinebeck Bancorp, Inc. (the Company) announced the retirement of Michael J. McDermott as Chief Financial Officer of the Company. The retirement is effective May 31, 2024. Mr. McDermott has served as its chief financial officer since 2001.
Rhinebeck Bancorp, Inc. is a holding company for Rhinebeck Bank (the Bank). The Bank provides a full range of banking and financial services to consumer and commercial customers through approximately 14 branches and over two representative offices located in Dutchess, Ulster, Orange, and Albany counties. The Bankâs primary business activity is accepting deposits from the public and using those funds, primarily to originate indirect automobile loans (automobile loans referred to as automobile dealerships), commercial real estate loans (which include multi-family real estate loans and commercial construction loans), commercial business loans and one-to four-family residential real estate loans, and to purchase investment securities. It offers various deposit accounts, including savings accounts, certificates of deposit, money market accounts, commercial and personal checking accounts, and others. It also offers alternative delivery channels, including online banking and bill pay.
RHINEBECK BANCORP, INC. 
