Monitor the offering's success in achieving minimum subscription targets, as failure to sell at least 6,587,500 shares would terminate the conversion. Watch for post-offering dividend policy announcements, which could signal improved shareholder returns.
Executive Summary
Rhinebeck Bancorp, Inc. (RBKB) is undergoing a second-step mutual-to-stock conversion, offering up to 8.9 million shares at $10.00 each to convert from a mutual holding company to a fully public stock company. The offering aims to strengthen capital, improve stock liquidity, and enable future dividends. The company reported $10.045 million in net income for 2025, with a strong capital position and low non-performing assets at 0.28% of total assets.
Key Financial Metrics
Key Facts
- Second-step mutual-to-stock conversion offering up to 8,912,500 shares at $10.00 per share
- Net income of $10.045 million for 2025, up from a $8.62 million loss in 2024
- Total assets of $1.30 billion as of December 31, 2025
- Non-performing assets represent 0.28% of total assets
- Proceeds will be used to strengthen capital, support growth, and potentially pay dividends
Financial Impact
Up to $89.1 million in gross proceeds from the offering
Risk Factors
- Failure to meet minimum offering requirements could terminate the conversion
- Regulatory approval is required for the conversion to proceed
- Post-conversion stock price may trade below the $10.00 offering price
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| S-1/A Filing (Primary) | 0001104659-26-048594 |
| Document: tm268293d2_ex2.htm | 0001104659-26-048594 |
| Document: tm268293d2_ex1-2.htm | 0001104659-26-048594 |
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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