Rhinebeck Bancorp, Inc. announced that its mutual holding company (MHC) will initiate a "second-step" structural conversion, transitioning from the current mutual holding company structure to a fully stock holding company structure.

This conversion marks a significant transformation in the corporate governance model of the financial institution, completing the transition from a mutual ownership structure to a public shareholding system. Such a move is typically accompanied by the optimization of capital structure and increased transparency in corporate governance, laying the foundation for future business expansion and capital market operations. After the shareholding system transformation is completed, Rhinebeck Bancorp's equity structure will become clearer, which is conducive to enhancing investor confidence and improving market competitiveness. This structural adjustment often brings more flexible capital management methods and broader development opportunities.