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Rhinebeck Bank Announces Retirement of Frederick Battenfeld from Board of Directors

1. Frederick L. Battenfeld retires from RBKB's board effective May 21, 2025. 2. Battenfeld served on the board since 1995, enhancing corporate governance. 3. His contributions and integrity were praised by the board's chairman. 4. RBKB emphasizes strong community ties, essential for future growth. 5. Battenfeld's retirement signifies a leadership transition at Rhinebeck Bank.

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FAQ

Why Neutral?

Battenfeld's retirement is significant but expected due to his long tenure. Historical transitions often result in stability rather than volatility, as seen in other banks undergoing leadership changes.

How important is it?

This event could influence RBKB's governance dynamics, impacting investor sentiment and community alignment.

Why Short Term?

Leadership changes can create short-term uncertainties but often lead to positive adjustments in governance structure.

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Rhinebeck Bancorp, Inc. (NASDAQ:RBKB), its wholly-owned subsidiary, Rhinebeck Bank, and its mutual holding company, Rhinebeck Bancorp, MHC, announced the retirement of Frederick L. Battenfeld from their respective boards of directors, effective May 21, 2025.Battenfeld, the fourth-generation owner of F.W. Battenfeld & Son, a family-run farm (greenhouse range and Christmas trees) in Red Hook, N.Y., served as a Rhinebeck Bank board member since 1995. He succeeded his father, Richard, on the Bank's board. During his board tenure, he served on multiple committees, including many years as chairman of the Audit committee and as a member of the Loan Review committee."I'm proud to have served on the board of what I considered to be the best bank in the Hudson Valley," said Battenfeld. "Through good service, good value and good customer relationships, I know we can continue as the best of the Valley for years to come.""Fred has been a valuable board member and has greatly contributed to Rhinebeck Bank becoming the premier community bank that we are today," said Bill Irwin, Chairman of Rhinebeck Bank's board of directors. "His business acumen, strategic foresight, personal integrity and commitment to the betterment of the communities we serve have helped lead us over the past three decades. It has been my privilege to have worked alongside Fred and I am deeply grateful for the significant contributions he has made."Among his many community service endeavors over the years, Battenfeld was an active volunteer with the Dutchess County Fair, including service as past president.###About Rhinebeck BancorpRhinebeck Bancorp, Inc. is a Maryland corporation organized as the mid-tier holding company of Rhinebeck Bank and is the majority-owned subsidiary of Rhinebeck Bancorp, MHC. For more than 165 years, Rhinebeck Bank has been an integral part of the area's economic growth and a driving force for commerce along the Hudson River. Rhinebeck Bank takes pride in being personally involved in local businesses, communities, and charitable organizations. Its ability to be responsive to the needs of customers and community has led its continued growth. For more information about Rhinebeck Bank or any of its products or services, please visit: www.rhinebeckbank.com.CONTACT: William C. IrwinChairman of the Board(845) 790 -1514SOURCE: Rhinebeck Bancorp, Inc.

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