UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 31, 2024, Rhinebeck Bancorp, Inc. (the “Company”), the holding company of Rhinebeck Bank, announced the retirement of Michael J. McDermott, Chief Financial Officer of the Company. Mr. McDermott will continue serving with the Company until his retirement is effective on May 31, 2024. The current Vice President and Controller of the Company, Phillip Lekanides, has been named Interim Principal Financial and Accounting Officer effective June 1, 2024, and will manage the responsibilities of the principal financial and accounting officer in addition to his current responsibilities until a permanent replacement is named.
Mr. Lekanides, age 44, has served as Vice President and Controller of the Company since May 1, 2021. Mr. Lekanides has been with the Bank since 2011 serving as VP Financial Planning and Analysis, AVP Finance, AVP, Residential Mortgage Lending, and Real Estate Lending Manager before assuming his current position.
Mr. Lekanides will receive his normal salary plus a temporary stipend of $4,500 per month while Mr. Lekanides serves in the role of Interim Principal Financial and Accounting Officer.
Except as described above, there are no arrangements or understandings between Mr. Lekanides and any other persons pursuant to which Mr. Lekanides was named Interim Principal Financial and Accounting Officer of the Company. There are no family relationships between Mr. Lekanides and any director, executive officer, or other employee of the Company. Mr. Lekanides has no material interests in any transactions or proposed transactions requiring disclosure under Item 404(a) of Regulation S-K.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
RHINEBECK BANCORP, INC. | |
DATE: April 19, 2024 | By: /s/ Michael J. Quinn |
Michael J. Quinn | |
President and Chief Executive Officer |