RHINEBECK BANCORP, INC. ANNOUNCES ADOPTION OF REPURCHASE PROGRAM

POUGHKEEPSIE, N.Y., Sept. 15, 2022 /PRNewswire/ -- Rhinebeck Bancorp, Inc. (the "Company") ( Nasdaq: RBKB), the holding company for Rhinebeck Bank, announced it has adopted a program to repurchase up to 247,506 shares of its common stock, which is 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 stock offering in January 2019.