UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
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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
(d) Exhibits.
Exhibit No.Description
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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 15, 2022 | By: /s/ Michael J. Quinn |
Michael J. Quinn | |
President and Chief Executive Officer |