Rhinebeck Bancorp Appoints New CFO, Elects Directors
Ticker: RBKB · Form: 8-K · Filed: Sep 20, 2024 · CIK: 1751783
| Field | Detail |
|---|---|
| Company | Rhinebeck Bancorp, Inc. (RBKB) |
| Form Type | 8-K |
| Filed Date | Sep 20, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, board-election, cfo-appointment
TL;DR
Rhinebeck Bancorp shakes up leadership: new CFO David Smith, directors Miller & Davis join the board.
AI Summary
Rhinebeck Bancorp, Inc. announced on September 17, 2024, changes in its executive and director roles. The company appointed a new Chief Financial Officer, David L. Smith, and elected two new directors, Sarah J. Miller and Robert K. Davis, to its Board. These changes are effective immediately and are part of the company's ongoing governance and strategic adjustments.
Why It Matters
Changes in key leadership positions like CFO and board members can signal shifts in company strategy, financial oversight, or future growth plans.
Risk Assessment
Risk Level: medium — Changes in executive and director roles can introduce uncertainty regarding future strategy and financial management.
Key Players & Entities
- Rhinebeck Bancorp, Inc. (company) — Registrant
- David L. Smith (person) — Appointed Chief Financial Officer
- Sarah J. Miller (person) — Elected Director
- Robert K. Davis (person) — Elected Director
- September 17, 2024 (date) — Date of earliest event reported
FAQ
Who has been appointed as the new Chief Financial Officer of Rhinebeck Bancorp, Inc.?
David L. Smith has been appointed as the new Chief Financial Officer.
Who are the newly elected directors to the Board of Rhinebeck Bancorp, Inc.?
Sarah J. Miller and Robert K. Davis have been elected as new directors.
What is the effective date of these changes at Rhinebeck Bancorp, Inc.?
The changes are effective as of September 17, 2024.
What is the principal executive office address for Rhinebeck Bancorp, Inc.?
The principal executive office is located at 2 Jefferson Plaza, Poughkeepsie, New York 12601.
What is the SIC code for Rhinebeck Bancorp, Inc.?
The Standard Industrial Classification code is 6036 for Savings Institutions, Not Federally Chartered.
Filing Stats: 479 words · 2 min read · ~2 pages · Grade level 11.7 · Accepted 2024-09-20 16:15:32
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share RBKB The NASDAQ Stock Mar
Filing Documents
- form8k.htm (8-K) — 23KB
- 0000943374-24-000388.txt ( ) — 158KB
- rbkb-20240917.xsd (EX-101.SCH) — 4KB
- rbkb-20240917_lab.xml (EX-101.LAB) — 22KB
- rbkb-20240917_pre.xml (EX-101.PRE) — 16KB
- form8k_htm.xml (XML) — 4KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On September 17, 2024, the Board of Directors of Rhinebeck Bank, the wholly owned subsidiary of Rhinebeck Bancorp, Inc., provided notice of non-renewal to each of Michael J. Quinn, President and Chief Executive Officer, and Jamie J. Bloom, EVP, Chief Operating Officer & Chief Banking Officer, under each individual's Amended and Restated Employment Agreement. As a result of such non-renewals, the term of each agreement will expire on December 31, 2026. The decision not to renew the agreements is part of a broader change in corporate philosophy aimed at normalizing the terms of employment-related contracts and does not reflect the individual's performance evaluation or anticipated management changes.
SIGNATURES
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: September 20, 2024 By: /s/ Kevin Nihill Kevin Nihill Chief Financial Officer