Rhinebeck Bank notifies CFO Kevin Nihill, other employees of change-in-control contract non-renewal

Rhinebeck Bancorp, Inc.

On October 1, 2026 the Rhinebeck Bank board gave notice of non-renewal to every employee holding a change-in-control agreement, including CFO Kevin Nihill.
The agreements' terms run through December 31, 2027; the company says the move is not tied to performance evaluations or anticipated management changes.
Rhinebeck says the non-renewals are part of a broader change in corporate philosophy on change-in-control contracts and it intends to develop a new benefit arrangement to replace them.
No replacement CFO or new change-in-control terms were named in the filing, signed October 6, 2026 by President and CEO Matthew J. Smith.

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