On the same day, Dwyer also acquired 22,000 shares through stock options at a price of $6.57 per share, valued at approximately $144,540. Following these transactions, Dwyer holds 10,079 shares directly and additional shares indirectly through an Employee Stock Ownership Plan (ESOP) and a 401(k) plan. These transactions reflect Dwyer's ongoing involvement with Rhinebeck Bancorp, a savings institution based in Poughkeepsie, New York, which has a market capitalization of $105.4 million. Gain deeper insights into RBKB's insider transactions and financial metrics with InvestingPro, which offers additional exclusive tips and comprehensive analysis.
On the same day, Dwyer also acquired 22,000 shares through stock options at a price of $6.57 per share, valued at approximately $144,540. Following these transactions, Dwyer holds 10,079 shares directly and additional shares indirectly through an Employee Stock Ownership Plan (ESOP) and a 401(k) plan.
These transactions reflect Dwyer's ongoing involvement with Rhinebeck Bancorp, a savings institution based in Poughkeepsie, New York.
In other recent news, Rhinebeck Bancorp has announced key changes in its executive leadership and a strategic repositioning of its portfolio. The company reported the non-renewal of contracts for President and CEO Michael J. Quinn, and Jamie J. Bloom, EVP, COO & Chief Banking Officer, effective as of December 31, 2026. This decision is part of a shift in corporate strategy to standardize employment contracts. In a parallel development, Kevin Nihill has been appointed as the new Chief Financial Officer, succeeding Michael McDermott. Nihill brings over 20 years of experience in banking and corporate finance.
Rhinebeck Bancorp also reported a strategic balance sheet repositioning, where it sold $71 million of its available-for-sale securities. The proceeds were reinvested into new securities with yields 3.11% higher than those sold. This move is expected to increase the bank's earnings per share by $0.12 and its net interest margin by 0.17% over the next year. Despite a one-time pre-tax loss of $12.0 million from the sale, Rhinebeck Bank maintains a strong capital position with robust liquidity metrics. These recent developments reflect Rhinebeck Bancorp's commitment to its strategic business objectives and long-term benefits for its shareholders and customers.
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