Four insiders at Rhinebeck Bancorp, Inc. ($RBKB) reported open-market purchases totaling $716,108 across seven transactions between July 22 and August 6, 2026, according to SEC Form 4 filings.
The buying began on July 22, when $RBKB shares opened at $11.00 — a 37.7% drop from the July 21 closing price of $17.65. The stock recovered some ground during the session to close at $12.04, representing a close-to-close decline of approximately 31.8%. Trading volume on July 22 surged to roughly 1.36 million shares, compared with fewer than 36,000 shares on July 21.
On that day, four insiders executed purchases at prices between $11.92 and $12.00 per share. Director Nancy Koskey Patzwahl made the largest single purchase, acquiring 25,000 shares at $11.94 for $298,500. Following the transaction, Patzwahl held 27,270 shares.
CEO Matthew James Smith bought shares in two separate transactions on July 22: 10,125 shares at $12.00 for $121,500, and an additional 2,300 shares at roughly $12.00 for $27,589. Smith reported ownership of 36,251 shares after both purchases.
Director Suzanne Loughlin also made two purchases that day, acquiring 12,000 shares at $11.93 for $143,160 and 500 shares at $11.92 for $5,960. Loughlin held 46,828 shares following the transactions.
VP Michael Vitale bought 5,000 shares at $11.94 for $59,700 on July 22, bringing his holdings to 17,580 shares. Two weeks later, on August 6, Vitale purchased an additional 4,834 shares at $12.35 for $59,700, raising his position to 22,414 shares. The August 6 purchase price was roughly 3.4% above the weighted average price paid by the group on July 22. Vitale filed his July 22 purchase on July 23 and his August 6 purchase on the same day.
All seven transactions in the cluster were reported with a transaction code of "P," denoting open-market purchases — transactions in which insiders use personal funds to buy shares on the public market, as distinct from option exercises or equity grants issued as compensation.
Prior to this cluster, insider trading in $RBKB had been sparse and weighted toward sales. The most recent open-market transaction was a sale of 4,162 shares by VP Philip J. Bronzi on May 19, 2026, at $15.92 per share, totaling $66,238. Before that, Bronzi sold shares in December 2025 at prices ranging from $11.05 to $11.16. The only insider purchase in the preceding year was by CFO Kevin M. Nihill, who acquired 1,000 shares at $9.67 for $9,670 in November 2025. No members of Congress have reported trades in $RBKB under the STOCK Act.
Rhinebeck Bancorp is the holding company for Rhinebeck Bank, a community bank serving the Hudson Valley region of New York. With a market capitalization of approximately $193 million, the company falls within the micro-cap category, where insider trading activity can represent a meaningful share of daily volume.