CUSIP No. 762093102 13G/A Page 1 of 5
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G/A
(Amendment No. 1) *
Under the Securities Exchange Act of 1934
Rhinebeck Bank
(Name of Issuer)
Common Stock, par value $0.01 per share
(Title of Class of Securities)
762093102
(CUSIP Number)
December 31, 2020
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
x Rule 13d-1(b)
o Rule 13d-1(c)
o Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).





CUSIP No. 762093102 13G/A Page 2 of 5
1.
Name of Reporting Persons.
I.R.S. Identification No. of above persons (entities only).

Delaware Charter Guarantee & Trust Company dba Principal Trust Company as Directed Trustee for the Rhinebeck Bank Employee Stock Ownership Plan and the Rhinebeck Bank 401(K) PLAN

IRS No. 51-0099493
2.
Check the Appropriate Box if a Member of a Group:

(a) o

(b) o
3. SEC Use Only
4.
Citizenship or Place of Organization:

Delaware
Number of Shares Beneficially Owned by Each Reporting Person With: 5. Sole Voting Power: 0
6. Shared Voting Power: 573,105 
7. Sole Dispositive Power: 0
8. Shared Dispositive Power: 573,105 
9.
Aggregate Amount Beneficially owned by Each Reporting Person
573,105
10.
Check if Aggregate Amount in Row (9) Excludes Certain Shares:
o
11.
Percent of Class Represented by Amount in Row (9):
5.15%
12.
Type of Reporting Person:
EP



CUSIP No. 762093102 13G/A Page 3 of 5
Item 1.
(a) Name of Issuer: Rhinebeck Bank
(b) Address of Issuer’s Principal Executive Offices: 2 Jefferson Plaza
Poughkeepsie, New York 12601
Item 2.
(a) - (c) Name, Principal Business Address and Citizenship of Person Filing:
Delaware Charter Guarantee & Trust Company dba Principal Trust Company as Directed Trustee
for the Rhinebeck Bank Employee Stock Ownership Plan and the
Rhinebeck Bank 401(K) PLAN
1013 Centre Road Ste 300
Wilmington DE 19805-1265
Citizenship: Delaware
(d) Title of Class of Securities: Common Stock, par value $0.01 per share
(e) CUSIP Number: 762093102
Item 3. If this statement is filed pursuant to Rule 13D-1(b) or 13D-2(b) or (c), check whether the person filing is a:
(f) x An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F);
Item 4. Ownership
Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.
(a)
The Rhinebeck Bank Employee Stock Ownership Plan and the Rhinebeck Bank 401(K) PLAN. (“Plans”) are subject to the Employee Retirement Income Security Act of 1974 (“ERISA”). Delaware Charter Guarantee & Trust Company dba Principal Trust Company acts as the Directed Trustee of the Rhinebeck Bank Employee Stock Ownership Plan and the Rhinebeck Bank 401(K) PLAN. (“Trusts”). As of December 31, 2020, the Rhinebeck Bank Employee Stock Ownership Plan and the Rhinebeck Bank 401(K) PLAN held 573,105 shares of the Issuer's common stock. The securities reported include all shares held of record by the Trustee. The Trustee follows the directions of the Employer, Rhinebeck Bank (the “Employer”), or other parties designated in the trust agreement between the Employer and the Trustee, with respect to voting and disposition of shares. The Trustee, however, is subject to fiduciary duties under ERISA. The Trustee disclaims beneficial ownership of the shares of common stock that are the subject of this Schedule 13G.
(b)
The 573,105 shares of common stock represent 5.15% of the Issuer’s outstanding shares of common stock. The percent of class is based on shares outstanding as of December 31, 2020, as provided by the Issuer.



CUSIP No. 762093102 13G/A Page 4 of 5
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote: 0
(ii) Shared power to vote or to direct the vote: 573,105 
(iii) Sole power to dispose or to direct the disposition of: 0
(iv) Shared power to dispose or to direct the disposition of: 573,105 
Item 5. Ownership of Five Percent or Less of Class
Not Applicable
Item 6. Ownership of More Than Five Percent on Behalf of Another Person
Not Applicable
Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company
Not Applicable
Item 8. Identification and Classification of Members of the Group
Not Applicable
Item 9. Notice of Dissolution of Group
Not Applicable
Item 10. Certification
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of having or influencing the control of the issuer of the securities and are not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.



CUSIP No. 762093102 13G/A Page 5 of 5
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Delaware Charter Guarantee & Trust Company
As Directed Trustee
/s/ Kristin M. Camp
Kristin M. Camp
President
January 13, 2021

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