This is a procedural filing formalizing the underwriting engagement — no trading signal. Monitor the subscription period close and final share count to gauge demand. The conversion will increase public float and dilute existing MHC ownership, but existing public stockholders' percentage ownership is preserved via the exchange ratio.
Price Chart
Executive Summary
Rhinebeck Bancorp, Inc. entered into an Agency Agreement with Keefe, Bruyette & Woods, Inc. to serve as exclusive financial advisor and marketing agent for the conversion of its mutual holding company (MHC) to a fully public stock holding company. The offering involves up to 8,912,500 shares of common stock at $10.00 per share, with a minimum of 6,587,500 shares required to close. This is a routine procedural step in the MHC conversion process — no financial results or operational changes are reported.
Key Facts
- Agency Agreement with KBW signed May 14, 2026 for mutual-to-stock conversion
- Up to 8,912,500 shares offered at $10.00/share; minimum 6,587,500 shares required
- Success fee: 1.0% of subscription offering proceeds, 1.5% of community offering proceeds
- Registration Statement on Form S-1 (No. 333-294283) declared effective May 14, 2026
- Federal Reserve and NYSDFS approvals received for the conversion applications
- Existing public stockholders' shares will be exchanged for new common stock at a ratio preserving their ownership percentage
Financial Impact
Maximum gross proceeds of $89.125M at $10.00/share if all 8,912,500 shares sold; minimum $65.875M at 6,587,500 shares
Risk Factors
- If minimum 6,587,500 shares not sold by the End Date (45 days post-community offering), the offering terminates and subscriptions are refunded
- Regulatory or market conditions could delay or prevent the conversion closing
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-061328 |
| Document: tm2614362d1_8k.htm | 0001104659-26-061328 |
| Document: 0001104659-26-061328-index-headers.html | 0001104659-26-061328 |
| Document: 0001104659-26-061328-index.html | 0001104659-26-061328 |
| Document: 0001104659-26-061328.txt | 0001104659-26-061328 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 20d ago | 8-K | $12.97 | awaiting T+60 | — | $12.85 (−0.93%) |
Aug 6, 2026 11w ago | Insider Buy | $12.52 | awaiting T+60 | — | $12.85 (+2.64%) |
Jul 23, 2026 13w ago | Insider Cluster | $12.43 $12.69 | ▲ +2.09% | ▼ −1.64% | $12.85 (+3.38%) |
Jul 17, 2026 14w ago | 8-K | $17.02 $17.98 | ▲ +5.64% | ▲ +0.95% | $12.85 (−24.50%) |
Jun 29, 2026 17w ago | 8-K | $17.31 $17.95 | ▲ +3.71% | ▲ +0.97% | $12.85 (−25.77%) |
May 26, 2026 21w ago | 8-K | $11.02 $12.65 | ▼ −14.75% | ▼ −12.03% | $12.85 (−16.57%) |
May 15, 2026 23w ago | EFFECT | $11.47 $12.48 | ▲ +8.76% | ▲ +4.25% | $12.85 (+11.99%) |
May 14, 2026 23w ago | 8-K | $11.47 $12.48 | ▲ +8.76% | ▲ +4.25% | $12.85 (+11.99%) |
May 11, 2026 24w ago | S-1/A | $11.50 $12.16 | ▲ +5.78% | ▲ +1.38% | $12.85 (+11.78%) |
Apr 24, 2026 26w ago | S-1/A | $16.05 $12.04 | ▼ −24.98% | ▼ −29.76% | $12.85 (−19.94%) |
US Market Status
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