Rhinebeck Bancorp Announces CFO Retirement and Successor

Rhinebeck Bancorp Inc (RBKB) has shared an announcement.

Rhinebeck Bancorp, Inc. has announced the upcoming retirement of its CFO, Michael J. McDermott, effective May 31, 2024. Phillip Lekanides, the current Vice President and Controller, will take over as the Interim Principal Financial and Accounting Officer starting June 1, 2024. Lekanides, who has been with Rhinebeck Bank since 2011 and has held various leadership roles, will continue to draw his regular salary along with an additional monthly stipend of $4,500 during his interim tenure. No family or material financial ties exist between Lekanides and other company executives that would require disclosure.

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