POUGHKEEPSIE, N.Y.,
Feb. 4, 2021 /PRNewswire/
-- Rhinebeck Bancorp, Inc., (NASDAQ: RBKB), the holding
company of Rhinebeck Bank, has received all required regulatory
approvals to acquire two Orange County,
New York branches from ConnectOne Bank, headquartered in
Englewood Cliffs, NJ. The
branches at 360 Route 17M in
Monroe and 62 Main Street
(Suite 1) in Warwick will become
Rhinebeck Bank branches after the close of business on Friday, March 12 and will open Monday, March 15, as part of the Rhinebeck Bank
system.
The new branches will provide individuals, families, and
businesses with a full complement of banking and lending services.
Rhinebeck Asset Management, a division of Rhinebeck Bank, will
provide a variety of personal and business financial planning
services from their offices at these new branch locations.
"The opening of our new Warwick
and Monroe branches is a critical part of our Orange County expansion efforts," said
Rhinebeck Bank President and CEO
Michael J. Quinn. "We're committed
to delivering superior customer service to which these branch
customers are accustomed. We welcome them and look forward to
serving their financial needs for years to come."
The Monroe Branch Team Leader
is Nabeel Farooqi. Justine Dooley, who previously served as Branch
Team Leader at the Bank's Goshen
branch, has been promoted to Branch Manager at the new Warwick location. She is joined by Branch Team
Leader Diane Milo.
Diane Passaro, Vice President –
Orange County Market Manager, an Orange
County banking and lending veteran who joined Rhinebeck Bank
last year, will oversee branch operations at both locations and
pursue additional Orange County
growth opportunities.
"We're excited to welcome these new customers into the Rhinebeck
Bank family," said Mark Malone,
Senior Vice President, Retail Banking. "Our Monroe and Warwick branch teams look forward to forging
strong relationships with customers transitioning to us from
ConnectOne Bank."
Our new customers can learn more about the branch conversion by
visiting www.RhinebeckBank.com/CNOB.
The Monroe and Warwick branches
are the second and third Rhinebeck Bank locations in Orange County, following the opening of a
branch office in Goshen in 2016.
Rhinebeck Asset Management is headquartered in the Orange County town of Montgomery.
About Rhinebeck Bank
For more than 160 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 their customers and community has led to continued growth. For
more information about Rhinebeck Bank or any of its products or
services, please visit www.RhinebeckBank.com.
Forward-Looking Statements
The statements contained herein that are not historical facts
are forward-looking statements (as defined by the Private
Securities Litigation Reform Act of 1995) based on management's
current expectations and beliefs concerning future developments and
their potential effects on Rhinebeck Bancorp. Such statements
involve inherent risks and uncertainties, many of which are
difficult to predict and are generally beyond the control of
Rhinebeck Bancorp. There can be no assurance that future
developments affecting Rhinebeck Bancorp will be the same as those
anticipated by management. These statements are evidenced by terms
such as "anticipate," "estimate," "should," "expect," "believe,"
"intend," and similar expressions. Although these statements
reflect management's good faith beliefs and projections, they are
not guarantees of future performance and they may not prove true.
These projections involve risk and uncertainties that could cause
actual results to differ materially from those addressed in the
forward-looking statements. Readers should not place under reliance
on such forward-looking statements, which speak only as of the date
made. For a discussion of these risks and uncertainties, see the
section of the periodic reports filed by Rhinebeck Bancorp with the
Securities and Exchange Commission entitled "Risk Factors."
We specifically disclaim any obligation to update any factors or
to publicly announce the result of revisions to any of the
forward-looking statements included herein to reflect future events
or developments.
Investor Contact:
RHINEBECK BANK CONTACT: Michael J.
Quinn, President and Chief Executive
Officer
TELEPHONE: (845) 790-1501
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SOURCE Rhinebeck Bancorp, Inc.