Reorganizing from a two-tier mutual holding company structure to a fully-public stock holding company. Rhinebeck Bancorp, MHC will merge into Rhinebeck Bancorp, Inc., and the company is offering between 6,587,500 and 8,912,500 shares of common stock at $10.00 per share to transition to 100% public ownership.

Expected impact: Significantly increases capital levels, improves stock liquidity, eliminates the mutual holding company structure, and provides capital to support organic growth, digital upgrades, and potential opportunistic acquisitions.

Partnering with MANTL (an Alkami Technology solution) to implement an omnichannel deposit and loan origination platform across physical and digital banking channels.

Expected impact: Automates key application decisions (KYC, AML, BSA checks, funding, and core booking), reduces friction, expands digital reach, and accelerates core deposit growth by allowing consumers to open accounts in under 5 minutes and businesses in under 10 minutes.

Strategically reducing reliance on higher-cost funding sources while shifting the loan mix away from indirect auto loans toward relationship-based commercial lending.

Expected impact: During 2025, FHLB advances were reduced by 64.0% ($44.6 million) and indirect auto loans decreased by $81.9 million, while commercial real estate loans grew by $52.1 million. This disciplined pricing and asset-liability management expanded the net interest margin to 3.89% in 2025 (up from 3.17% in 2024) and returned the bank to profitability.