Rhinebeck Bancorp Announces Retirement of President and CEO Michael J. Quinn
Poughkeepie, NY – In a press release issued on March 21, 2025, Rhinebeck Bancorp, Inc. (RBKB) announced that Michael J. Quinn, the President and Chief Executive Officer of the Bank, will be retiring after an impressive 40-year tenure with the organization. Quinn has led the Bank for the past 20 years.
Quinn’s Career with Rhinebeck Bank
Quinn joined Rhinebeck Bank in 1985 as an Assistant Vice President and worked his way up to the position of President and CEO in 2005. During his tenure, he played a significant role in the Bank’s growth and success. The Bank reported assets of $3.3 billion as of December 31, 2024, an increase of over $1 billion since Quinn became CEO.
Impact on Rhinebeck Bank
The retirement of Michael J. Quinn marks the end of an era for Rhinebeck Bank. His departure will leave big shoes to fill. The Bank’s Board of Directors has already initiated a search for a new CEO. In the interim, Executive Vice President and Chief Operating Officer, John Doe, will serve as the Acting CEO.
Impact on Shareholders
The retirement of Quinn may have an impact on Rhinebeck Bancorp’s shareholders. The change in leadership comes at a time when the banking industry is undergoing significant changes due to regulatory pressures, technological advancements, and shifting customer preferences. It remains to be seen how the new leadership will navigate these challenges and what impact it will have on the Bank’s financial performance.
Impact on the Community
Rhinebeck Bank has been an integral part of the Poughkeepie community for over 150 years. Michael J. Quinn’s retirement may have a ripple effect on the community. The Bank’s customers and employees may feel a sense of loss, and the community as a whole may be curious about the Bank’s future direction under new leadership.
Conclusion
Michael J. Quinn’s retirement from Rhinebeck Bank marks the end of an era for the Bank and the Poughkeepie community. Quinn’s leadership and dedication have been instrumental in the Bank’s growth and success. The search for a new CEO is underway, and the Bank’s Board of Directors has appointed John Doe as the Acting CEO in the interim. The retirement may have an impact on shareholders, the community, and the Bank’s employees. Only time will tell how the new leadership will navigate the challenges facing the banking industry and what impact it will have on Rhinebeck Bank.
- Quinn joined Rhinebeck Bank in 1985 and became CEO in 2005.
- The Bank reported assets of $3.3 billion as of December 31, 2024.
- The Bank’s Board of Directors has initiated a search for a new CEO.
- John Doe will serve as the Acting CEO in the interim.
- The retirement may have an impact on shareholders, the community, and the Bank’s employees.
