Rhinebeck Bank to Offer Customers Stock Shares
Rhinebeck Bank announced, via press release, that their customers have approved the plan of reorganization and stock issuance. As a part of the reorganization and stock offering the bank will issue 43% of its shares of common stock to eligble depositors (current bank customers) with the remaining shares to be issued to Rhinebeck Bancorp. When the question was posed to bank customers they overwhelmingly said yes to reorganization and the stock being issued but they voted no to the creation of charity foundation.
The timeline for stock to be issued will be the middle of January 2019. The stock will be trading on the NASDAQ and will trade under the ticker symbol "RBKB."
Rhinebeck Bank was established in 1860 and has 11 branches in Dutchess, Ulster and Orange counties.
If you had the chance would you buy stock in your bank? What sort of return would you expect? Is stock something that you should be adding to your investment portfolio in 2019?
How do you invest your money? Care to share? Add your tips to the comment section below?
- Study Claims New York Women Are the Meanest
- What is a ‘Kill” & Why Does NY Have So Many of Them?
- Top 10 Hudson Valley Celebrities
- Hudson Valley Town Named One of America’s Coolest Small Towns
- Where Is Oniontown and Why Is It So Dangerous?
- Did One of Your Favorite Businesses Close in 2018?