Rhinebeck Bancorp subscription offering oversubscribed; conversion closes July 21

Rhinebeck Bancorp, Inc.

Subscription offering oversubscribed in first tier by eligible depositors; no other priority group will have orders filled.
Existing shareholders to receive 1.3978 new shares per old share; cash in lieu of fractional shares at $10.00/share.
Post-transaction shares outstanding: 15,638,237, subject to fractional share adjustment.
Employee stock ownership plan unable to purchase in offering; expected to buy up to 4% in open market post-closing.
Conversion and offering expected to close July 21, 2026; shares to trade under RBKB symbol on Nasdaq.

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