Rhinebeck Bancorp, Inc. announces an Equity Buyback for 247,506 shares, representing 5% of its issued share capital.
September 15, 2022 at 04:32 pm EDT
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Rhinebeck Bancorp, Inc. (NasdaqCM:RBKB) announces a share repurchase program. Under the program, the company will repurchase up to 247,506 shares, representing 5% of its outstanding common stock. The repurchase program has no expiration date.
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. 
