<SEC-DOCUMENT>0000943374-21-000114.txt : 20210218
<SEC-HEADER>0000943374-21-000114.hdr.sgml : 20210218
<ACCEPTANCE-DATETIME>20210218121548
ACCESSION NUMBER:		0000943374-21-000114
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20210218
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210218
DATE AS OF CHANGE:		20210218

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Rhinebeck Bancorp, Inc.
		CENTRAL INDEX KEY:			0001751783
		STANDARD INDUSTRIAL CLASSIFICATION:	SAVINGS INSTITUTIONS, NOT FEDERALLY CHARTERED [6036]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38779
		FILM NUMBER:		21648561

	BUSINESS ADDRESS:	
		STREET 1:		2 JEFFERSON PLAZA
		CITY:			POUGHKEEPSIE
		STATE:			NY
		ZIP:			12601
		BUSINESS PHONE:		845-454-8555

	MAIL ADDRESS:	
		STREET 1:		2 JEFFERSON PLAZA
		CITY:			POUGHKEEPSIE
		STATE:			NY
		ZIP:			12601
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k.htm
<TEXT>
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    <div style="text-align: center; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-weight: bold;">WASHINGTON, D.C. 20549</div>
    <div style="text-align: center;"> <br>
    </div>
    <div style="text-align: center; font-weight: bold;">FORM 8-K</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">CURRENT REPORT</div>
    <div><br>
    </div>
    <div style="text-align: center;">PURSUANT TO SECTION 13 OR 15(D) OF</div>
    <div style="text-align: center;">THE SECURITIES EXCHANGE ACT OF 1934</div>
    <div><br>
    </div>
    <div style="text-align: center;">Date of Report (Date of earliest event reported): February 18, 2021</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;"><u>Rhinebeck Bancorp, Inc.</u></div>
    <div style="text-align: center;">(Exact Name of Registrant as Specified in Charter)</div>
    <div><br>
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            <div style="text-align: center;">Maryland</div>
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          <td style="width: 3.67%; vertical-align: bottom;">&#160;</td>
          <td style="width: 19.14%; vertical-align: bottom; border-bottom: 2px solid black;">
            <div style="text-align: center;">001-38779</div>
          </td>
          <td style="width: 2.89%; vertical-align: bottom;">&#160;</td>
          <td style="width: 32.37%; vertical-align: bottom; border-bottom: 2px solid black;" colspan="2">
            <div style="text-align: center;">83-2117268</div>
          </td>
        </tr>
        <tr>
          <td style="width: 38.26%; vertical-align: bottom;" colspan="2">
            <div style="text-align: center; font-size: 8pt;">(State or Other Jurisdiction</div>
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          <td style="width: 3.67%; vertical-align: top;">&#160;</td>
          <td style="width: 3.67%; vertical-align: bottom;">&#160;</td>
          <td style="width: 19.14%; vertical-align: bottom;">
            <div style="text-align: center; font-size: 8pt;">(Commission File No.)</div>
          </td>
          <td style="width: 2.89%; vertical-align: bottom;">&#160;</td>
          <td style="width: 32.37%; vertical-align: bottom;" colspan="2">
            <div style="text-align: center; font-size: 8pt;">(I.R.S. Employer</div>
          </td>
        </tr>
        <tr>
          <td style="width: 38.26%; vertical-align: bottom;" colspan="2">
            <div style="text-align: center; font-size: 8pt;">of Incorporation)</div>
          </td>
          <td style="width: 3.67%; vertical-align: top;">&#160;</td>
          <td style="width: 25.7%; vertical-align: bottom;" colspan="3">&#160;</td>
          <td style="width: 32.37%; vertical-align: bottom;" colspan="2">
            <div style="text-align: center; font-size: 8pt;">Identification No.)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3.67%; vertical-align: top;">&#160;</td>
          <td style="width: 96.33%; vertical-align: top;" colspan="7">&#160;</td>
        </tr>
        <tr>
          <td style="width: 3.67%; vertical-align: top;">&#160;</td>
          <td style="width: 61.07%; vertical-align: bottom; border-bottom: 2px solid black;" colspan="4">
            <div style="text-align: center;">2 Jefferson Plaza, Poughkeepsie, New York</div>
          </td>
          <td style="width: 3.92%; vertical-align: top;" colspan="2">&#160;</td>
          <td style="width: 31.34%; vertical-align: bottom; border-bottom: 2px solid black;">
            <div style="text-align: center;">12601</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3.67%; vertical-align: top;">&#160;</td>
          <td style="width: 61.07%; vertical-align: bottom;" colspan="4">
            <div style="text-align: center; font-size: 8pt;">(Address of Principal Executive Offices)</div>
          </td>
          <td style="width: 3.92%; vertical-align: top;" colspan="2">&#160;</td>
          <td style="width: 31.34%; vertical-align: bottom;">
            <div style="text-align: center; font-size: 8pt;">(Zip Code)</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <div>Registrant&#8217;s telephone number, including area code:<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
      </font><u>(845) 454-8555</u></div>
    <div><br>
    </div>
    <div style="text-align: center;"><u>Not Applicable</u></div>
    <div style="text-align: center;">(Former name or former address, if changed since last report)</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
      following provisions (see General Instruction A.2. below):</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z8f8d0ee65a1743a795fd5eff437b010e" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
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            <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">&#9633;</div>
          </td>
          <td style="width: 95.36%; vertical-align: top;">
            <div style="text-align: justify;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 4.64%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">&#9633;</div>
          </td>
          <td style="width: 95.36%; vertical-align: top;">
            <div style="text-align: justify;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 4.64%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">&#9633;</div>
          </td>
          <td style="width: 95.36%; vertical-align: top;">
            <div style="text-align: justify;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
          </td>
        </tr>
        <tr>
          <td style="width: 4.64%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">&#9633;</div>
          </td>
          <td style="width: 95.36%; vertical-align: top;">
            <div style="text-align: justify;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>Securities registered pursuant to Section&#160;12(b) of the Act:</div>
    <div><br>
    </div>
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        <tr>
          <td style="width: 39.45%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">Title of each class</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">&#160;</td>
          <td style="width: 14.64%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">Trading</div>
            <div style="text-align: center; font-weight: bold;">Symbol(s)</div>
          </td>
          <td style="width: 0.98%; vertical-align: bottom;">&#160;</td>
          <td style="width: 43.94%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">Name of each exchange on which registered</div>
          </td>
        </tr>
        <tr>
          <td style="width: 39.45%; vertical-align: top;">
            <div style="text-align: center;">Common Stock, par value $0.01 per share</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">&#160;</td>
          <td style="width: 14.64%; vertical-align: bottom;">
            <div style="text-align: center;">RBKB</div>
          </td>
          <td style="width: 0.98%; vertical-align: bottom;">&#160;</td>
          <td style="width: 43.94%; vertical-align: bottom;">
            <div style="text-align: center;">The NASDAQ Stock Market, LLC</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule&#160;405 of the Securities Act of 1933 (&#167;230.405 of this chapter)
      or Rule&#160;12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).&#160;&#160; &#160; Emerging growth company &#8999;</div>
    <div><br>
      If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&#160;13(a)&#160;of the Exchange
      Act.&#160;<font style="font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</font></div>
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    </div>
    <div><font style="font-size: 12pt; font-weight: bold;">Item 8.01</font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="font-size: 12pt; font-weight: bold;">Other Events.</font></div>
    <div><br>
    </div>
    <div style="text-indent: 31.5pt; font-size: 12pt;">On February 18, 2021, Rhinebeck Bancorp, Inc. (the &#8220;Company&#8221;) issued a press release announcing that its wholly-owned subsidiary,
      Rhinebeck Bank, had received all required regulatory approvals to establish a new branch office in Newburgh, New York. The new branch office is expected to open in the spring of 2021. A copy of the press release is attached as Exhibit 99.1 to this
      Current Report on Form 8-K and is incorporated herein by reference.</div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-size: 12pt; font-weight: bold;">Item 9.01</font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="font-size: 12pt; font-weight: bold;">Financial Statements and Exhibits.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 12pt;">(d)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">Exhibits.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 12pt;"><u>Number</u></font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 72pt">&#160;</font><font style="font-size: 12pt;"><u>Description</u></font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 12pt;">&#160;&#160;<a href="ex99-1.htm"> 99.1</a></font><a href="ex99-1.htm"><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 72pt">&#160;</font></a><font style="font-size: 12pt;">Press Release dated February 18, 2021</font></div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="margin-bottom: 8pt;"><br>
    </div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">SIGNATURES</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-size: 12pt;">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.</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z4b5e971dd1924fadb9c77fffecbdc551" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 57.09%; vertical-align: top;">
            <div style="text-align: justify; font-size: 12pt; font-weight: bold;">RHINEBECK BANCORP, INC.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 42.91%; vertical-align: top;">&#160;</td>
          <td style="width: 57.09%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 42.91%; vertical-align: top;">&#160;</td>
          <td style="width: 57.09%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 42.91%; vertical-align: top;">&#160;</td>
          <td style="width: 57.09%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 42.91%; vertical-align: top;">
            <div style="text-align: justify; font-size: 12pt;">DATE: February 18, 2021</div>
          </td>
          <td style="width: 57.09%; vertical-align: top;">
            <div style="text-align: justify;"><font style="font-size: 12pt;">By:</font><font style="font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160; <u>/s/ Michael J. Quinn</u><u><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt">&#160;</font></u></font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 42.91%; vertical-align: top;">&#160;</td>
          <td style="width: 57.09%; vertical-align: top;">
            <div style="text-align: justify; text-indent: 36pt; font-size: 12pt;">Michael J. Quinn</div>
          </td>
        </tr>
        <tr>
          <td style="width: 42.91%; vertical-align: top;">&#160;</td>
          <td style="width: 57.09%; vertical-align: top;">
            <div style="text-align: justify; text-indent: 36pt; font-size: 12pt;">President and Chief Executive Officer</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1 PRESS RELEASE DATED FEBRUARY 18, 2021
<TEXT>
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  <div style="text-align: right;">Exhibit 99.1<br>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div>
    <div style="text-align: center; font-size: 12pt;">Rhinebeck Bank Receives Regulatory Approval to Continue Orange County Expansion</div>
    <div style="text-align: center; font-size: 12pt;">With New Branch in City of Newburgh</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="font-size: 12pt;">FOR IMMEDIATE RELEASE</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;">Newburgh, NY (February 18, 2021) &#8211; Rhinebeck Bancorp, Inc. (NASDAQ: RBKB), the holding company of Rhinebeck Bank, has received all required regulatory
      approvals to continue its expansion in Orange County with the opening of a new branch at 456 Broadway in the city of Newburgh this spring.</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;">The new branch, located in the commercial heart of Newburgh, will provide individuals, families, and businesses with a full complement of banking and lending
      services. Rhinebeck Asset Management, a division of Rhinebeck Bank, will provide a variety of personal and business financial planning services from their office at this new branch location.</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;">&#8220;We believe in the city of Newburgh and in our ability to contribute to the success of residents and commercial entities throughout Orange County,&#8221; said
      Rhinebeck Bank President and CEO Michael J. Quinn. &#8220;We&#8217;ll work closely with municipal and business leaders to promote Newburgh, as we already have with our support of the Newburgh Creative Neighborhood, and to pursue smart, sustained growth in both
      residential and commercial markets.&#8221;</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;">In the spring of 2018, Rhinebeck Bank enhanced the efforts of Hudson Valley Pattern for Progress&#8217; Newburgh Creative Neighborhood through the creation of a $3
      million loan fund. In January 2021, Rhinebeck Bank&#8217;s Board of Directors increased the fund to $4 million. This fund secures term loans, including commercial express loans, equipment and vehicle purchases, leasehold improvements and real estate
      transactions under favorable pricing, advance rates and terms to the prospective borrowers in the Newburgh Creative Neighborhood.</div>
    <div style="font-size: 12pt;">&#160;</div>
    <div style="font-size: 12pt;">&#8220;Opening in Newburgh will provide local businesses the opportunity to establish a relationship with a true community bank that is as committed to the City of
      Newburgh as they are,&#8221; noted Senior Vice President, Commercial Lending Director Philip Bronzi. &#8220;Our Newburgh Creative Neighborhood Loan Fund has been instrumental in the revitalization of several Newburgh businesses and properties and we look forward
      to continuing that investment in Newburgh and supporting businesses there.&#8221;</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;">Vince Aurigemma, Vice President, Residential Lending, highlighted the opportunity the Bank will offer those in the area looking to buy a home. &#8220;Home ownership
      is a foundation of building a secure financial future. Having a presence in the city of Newburgh will give residents access to our years of experience and the tools necessary to achieve their homeownership dreams.&#8221;</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;">City of Newburgh Mayor Torrance Harvey said, &#8220;We are all thrilled to have Rhinebeck Bank open a branch in our great city. The services and benefits this will
      bring to our residents and business community is exponential. The teamwork that went into this project, and the desire and willingness of our partner to open up shop in Newburgh speaks volumes to their commitment to our community.&#8221;</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;">&#8220;Rhinebeck Bank has a long and accomplished history of helping people and businesses flourish,&#8221; said City Manager Joseph Donat. &#8220;They go above and beyond to
      be a true community partner and the City of Newburgh could not be happier to have them open a branch location in the heart of our downtown corridor. This is a fabulous way to kick off the new year, and will undoubtedly lay the groundwork for a
      fruitful future for our city, and its residents and business owners alike.&#8221;</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after: always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="font-size: 12pt;">The new branch will be led by Branch Manager Mario Jimenez and Branch Team Leader Sergio Valentin. Diane Passaro, Vice President &#8211; Orange County Market
      Manager, an Orange County banking and lending veteran who joined Rhinebeck Bank last year, will oversee Newburgh branch operations and continue to facilitate new opportunities for growth in Orange County going forward.</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;">The Newburgh branch will be the fourth Rhinebeck Bank location in Orange County, joining the villages of Goshen, Monroe and Warwick. Rhinebeck Asset
      Management is headquartered in Montgomery.</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;">&#8220;We&#8217;re excited to expand our presence in Orange County,&#8221; said Mark Malone, Senior Vice President, Retail Banking. &#8220;Our Newburgh team is experienced, familiar
      with and connected to the city, and will be an active, visible presence in the community.&#8221;</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 12pt;"># # #</div>
    <div><br>
    </div>
    <div style="font-size: 12pt; font-weight: bold;">About Rhinebeck Bank</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;">For more than 160 years, Rhinebeck Bank has been an integral part of the area&#8217;s economic growth and a driving force for commerce along the Hudson River.
      Rhinebeck Bank takes pride in being personally involved in local businesses, communities, and charitable organizations. Its ability to be responsive to the needs of their customers and community has led to continued growth. For more information about
      Rhinebeck Bank or any of its products or services, please visit www.RhinebeckBank.com.</div>
    <div><br>
    </div>
    <div style="font-size: 12pt; font-weight: bold;">Forward-Looking Statements</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;">The statements contained herein that are not historical facts are forward-looking statements (as defined by the Private Securities Litigation Reform Act of
      1995) based on management&#8217;s current expectations and beliefs concerning future developments and their potential effects on Rhinebeck Bancorp. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are
      generally beyond the control of Rhinebeck Bancorp. There can be no assurance that future developments affecting Rhinebeck Bancorp will be the same as those anticipated by management. These statements are evidenced by terms such as &#8220;anticipate,&#8221;
      &#8220;estimate,&#8221; &#8220;should,&#8221; &#8220;expect,&#8221; &#8220;believe,&#8221; &#8220;intend,&#8221; and similar expressions. Although these statements reflect management&#8217;s good faith beliefs and projections, they are not guarantees of future performance and they may not prove true. These
      projections involve risk and uncertainties that could cause actual results to differ materially from those addressed in the forward-looking statements. Readers should not place under reliance on such forward-looking statements, which speak only as of
      the date made. For a discussion of these risks and uncertainties, see the section of the periodic reports filed by Rhinebeck Bancorp with the Securities and Exchange Commission entitled &#8220;Risk Factors.&#8221; We specifically disclaim any obligation to
      update any factors or to publicly announce the result of revisions to any of the forward-looking statements included herein to reflect future events or developments.</div>
    <div><br>
    </div>
    <div style="font-size: 12pt; font-weight: bold;">Investor Contact</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;">Michael J. Quinn, President and Chief Executive Officer, Rhinebeck Bank</div>
    <div style="font-size: 12pt;">(845) 790-1501</div>
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