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Red Flags Detected

  • Commercial Real Estate Concentration At 65.4% Of Loan Portfolio (new) — The company's loan book is heavily concentrated in commercial real estate and commercial business loans, which present greater risk than residential mortgages due to larger single-borrower exposures and dependency on property operations.
  • One Borrower Exceeds Internal Loans-To-One Borrower Limit By $600,000 (new) — The company currently has a borrower exposure that breaches its internal $30.0M limit, which management plans to remedy post-offering by reducing credit availability and increasing capital.
NASDAQ: RBKB Rhinebeck Bancorp, Inc. 424B3

Rhinebeck Bancorp offers 401(k) participants up to 3.3M shares at $10.00 in mutual-to-stock conversion

Filed May 22, 2026 · ~2 min read

Offering filing cluster

Same offering
  1. 424B3 May 22, 2026 Rhinebeck Bancorp prices mutual-to-stock conversion at $10.00/share, raising $63M net proceeds EDGAR →
  2. 8-K May 26, 2026 Rhinebeck Bancorp launches $89M stock offering to convert from mutual to fully public company EDGAR →

Key Changes

  • high

    This 424B3 supplement allows Rhinebeck Bank 401(k) plan participants to purchase up to 3,298,199 shares at $10.00/share using plan account balances; the broader conversion offering ranges from 6,587,500 to 8,912,500 shares at $10.00, with net proceeds to the company of $63.0M (minimum) to $86.0M (maximum).

    The Offering verify on EDGAR →
  • high

    Existing public stockholders will receive up to 6,725,738 shares via exchange to maintain their percentage ownership; total post-conversion shares outstanding will be offering shares plus these exchange shares.

    The Offering verify on EDGAR →
  • high

    Commercial real estate loans comprise 65.4% of the loan portfolio ($626.3M), up from 49.50% at year-end 2024, while indirect auto loans declined to 22.3% ($213.8M) from 30.33% as the company deliberately shrinks auto lending through tighter underwriting.

    Business view on EDGAR →

5 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.

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View original filing on SEC.gov

Source-verified from EDGAR · Narrative written by AI · Jul 8, 2026 · How we verify