Item 8.01Other Events
On September 15, 2022, Rhinebeck Bancorp, Inc., the holding company for
Rhinebeck Bank, issued a press release announcing that it has adopted a program
to repurchase up to 247,506 shares of its common stock, which equals
approximately 5% of its outstanding common stock (excluding shares held by
Rhinebeck Bancorp, MHC). This is the Company's first stock repurchase program
since completing its mutual holding company reorganization and related initial
stock offering in January 2019.
Repurchases are expected to commence after the Company publicly releases its
results of operations for the quarter ended September 30, 2022. Shares may be
repurchased in open market or private transactions or pursuant to any trading
plan that may be adopted in accordance with Rule 10b5-1 of the Securities and
Exchange Commission.
For additional information, reference is made to the Company's press release
dated September 15, 2022, which is attached hereto as an exhibit and
incorporated herein by reference.
Item 9.01Financial Statements and Exhibits
(a)Financial Statements of Businesses Acquired. Not applicable.
(b)Pro Forma Financial Information. Not applicable.
(c)Shell Company Transactions. Not applicable.
(d) Exhibits.
Exhibit No.Description
99.1 Press release dated September 15, 2022.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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