Rhinebeck Bank President and CEO Michael J. Quinn to Retire After 40 Years of Service; Board Initiates Leadership Transition
Rhinebeck Bancorp (NASDAQ:RBKB) announced that President and CEO Michael J. Quinn will retire after 40 years of service, including 20 years as CEO. During Quinn's leadership, the bank experienced significant growth with assets increasing by 246%, expanded its footprint, and successfully transitioned to becoming a publicly traded company.
The Board of Directors has initiated a comprehensive search for Quinn's successor, engaging an executive search firm to evaluate both internal and external candidates. Quinn will continue serving as President and CEO until either a successor is appointed or the end of the year.
Under Quinn's tenure, the bank strengthened its community impact while maintaining core values of integrity, accountability, and community service. The bank maintains a strong capital position and is positioned for continued growth and innovation.
Rhinebeck Bancorp (NASDAQ:RBKB) ha annunciato che il Presidente e CEO Michael J. Quinn si ritirerà dopo 40 anni di servizio, di cui 20 come CEO. Sotto la guida di Quinn, la banca ha registrato una crescita significativa con un aumento degli attivi del 246%, ha ampliato la sua presenza e ha effettuato con successo la transizione a una società quotata in borsa.
Il Consiglio di Amministrazione ha avviato una ricerca approfondita per il successore di Quinn, coinvolgendo un'agenzia di ricerca esecutiva per valutare candidati interni ed esterni. Quinn continuerà a ricoprire il ruolo di Presidente e CEO fino all'assegnazione di un successore o fino alla fine dell'anno.
Durante il mandato di Quinn, la banca ha rafforzato il suo impatto sulla comunità mantenendo i valori fondamentali di integrità, responsabilità e servizio alla comunità. La banca mantiene una solida posizione di capitale ed è ben posizionata per una continua crescita e innovazione.
Rhinebeck Bancorp (NASDAQ:RBKB) anunció que el Presidente y CEO Michael J. Quinn se retirará después de 40 años de servicio, incluyendo 20 años como CEO. Durante el liderazgo de Quinn, el banco experimentó un crecimiento significativo con un aumento de activos del 246%, amplió su presencia y se trasladó con éxito a convertirse en una empresa que cotiza en bolsa.
La Junta Directiva ha iniciado una búsqueda integral para el sucesor de Quinn, contratando a una firma de búsqueda ejecutiva para evaluar tanto a candidatos internos como externos. Quinn continuará sirviendo como Presidente y CEO hasta que se designe un sucesor o hasta el final del año.
Bajo el mandato de Quinn, el banco fortaleció su impacto comunitario mientras mantenía los valores fundamentales de integridad, responsabilidad y servicio a la comunidad. El banco mantiene una sólida posición de capital y está bien posicionado para un crecimiento e innovación continuos.
라인백 뱅코프 (NASDAQ:RBKB)는 마이클 J. 퀸 회장 겸 CEO가 40년의 근무를 마치고 은퇴한다고 발표했습니다. 이 중 20년은 CEO로 재직했습니다. 퀸의 리더십 아래, 은행은 자산이 246% 증가하는 등 상당한 성장을 경험했으며, 입지를 확장하고 성공적으로 상장 기업으로 전환했습니다.
이사회는 퀸의 후임자를 찾기 위한 포괄적인 검색을 시작했으며, 내부 및 외부 후보자를 평가하기 위해 임원 검색 회사를 참여시켰습니다. 퀸은 후임자가 임명되거나 연말까지 회장 겸 CEO로 계속 재직할 것입니다.
퀸의 재임 기간 동안 은행은 정직, 책임 및 지역 사회 서비스라는 핵심 가치를 유지하면서 지역 사회에 미치는 영향을 강화했습니다. 은행은 강력한 자본 위치를 유지하고 있으며 지속적인 성장과 혁신을 위한 좋은 위치에 있습니다.
Rhinebeck Bancorp (NASDAQ:RBKB) a annoncé que le Président et CEO Michael J. Quinn prendra sa retraite après 40 ans de service, dont 20 ans en tant que CEO. Sous la direction de Quinn, la banque a connu une croissance significative avec une augmentation des actifs de 246%, a élargi son empreinte et a réussi sa transition en tant qu'entreprise cotée en bourse.
Le Conseil d'Administration a lancé une recherche approfondie pour le successeur de Quinn, engageant une société de recherche exécutive pour évaluer les candidats internes et externes. Quinn continuera à servir en tant que Président et CEO jusqu'à ce qu'un successeur soit nommé ou jusqu'à la fin de l'année.
Sous le mandat de Quinn, la banque a renforcé son impact communautaire tout en maintenant des valeurs fondamentales d'intégrité, de responsabilité et de service à la communauté. La banque maintient une solide position en capital et est bien positionnée pour une croissance et une innovation continues.
Rhinebeck Bancorp (NASDAQ:RBKB) hat angekündigt, dass Präsident und CEO Michael J. Quinn nach 40 Jahren im Dienst, davon 20 Jahre als CEO, in den Ruhestand gehen wird. Unter Quins Führung erlebte die Bank ein signifikantes Wachstum, mit einem Anstieg der Vermögenswerte um 246%, erweiterte ihre Präsenz und hat erfolgreich den Übergang zu einem börsennotierten Unternehmen vollzogen.
Der Vorstand hat eine umfassende Suche nach Quins Nachfolger eingeleitet und ein Executive-Search-Unternehmen beauftragt, sowohl interne als auch externe Kandidaten zu bewerten. Quinn wird weiterhin als Präsident und CEO tätig sein, bis ein Nachfolger ernannt wird oder bis zum Ende des Jahres.
Während Quins Amtszeit hat die Bank ihren Einfluss auf die Gemeinschaft gestärkt und dabei die Grundwerte von Integrität, Verantwortung und Gemeindedienst beibehalten. Die Bank hat eine starke Kapitalposition und ist gut aufgestellt für weiteres Wachstum und Innovation.
- Significant asset growth of 246% under Quinn's leadership
- Successful transition to becoming a publicly traded company
- Strong capital position maintained
- Planned and orderly CEO succession process in place
- Potential leadership uncertainty during transition period
- Risk of strategic direction change under new leadership
POUGHKEEPSIE, NY / ACCESS Newswire / March 21, 2025 / Rhinebeck Bancorp, Inc. (NASDAQ:RBKB), the holding company for Rhinebeck Bank (the "Bank"), today announced that President and Chief Executive Officer Michael J. Quinn will retire following an extraordinary 40-year career with the Bank, including 20 years as CEO. During his tenure, Mr. Quinn led the Bank through a period of transformational change expanding its footprint, increasing assets by
In preparation for this transition, and in accordance with the Bank's succession plan, the Board of Directors has initiated a comprehensive search for the Bank's next CEO, utilizing an executive search firm to evaluate both internal and external candidates. Mr. Quinn will remain as President and Chief Executive Officer until the earlier of when a successor is found or the end of the year.
"Michael's leadership has left an indelible mark on Rhinebeck Bank," said Bill Irwin, Chair of Rhinebeck Bank's Board of Directors.
Reflecting on his career, Michael J. Quinn stated: "Serving as Rhinebeck Bank's CEO has been one of the greatest honors of my life. Our achievements are a direct result of our dedicated employees and the trust placed in us by our customers and shareholders. I am immensely proud of what we have built together. As I look ahead to retirement, I am confident that the Bank is well-positioned for continued success."
Looking to the future, Rhinebeck Bank remains committed to its core values of integrity, accountability, and community service.
"We are focused on identifying a leader who will build on the Bank's strong foundation while positioning us for the next chapter of innovation and growth," added Mr. Irwin. "With a talented team, a strong capital position, and a history of adaptability, Rhinebeck Bank is poised for even greater impact in the years ahead."
About Rhinebeck Bank
Rhinebeck Bancorp, Inc. is a Maryland corporation organized as the mid-tier holding company of Rhinebeck Bank and is the majority-owned subsidiary of Rhinebeck Bancorp, MHC. For more than 160 years, Rhinebeck Bank has been an integral part of the area's economic growth and a driving force for commerce along the Hudson River. Rhinebeck Bank takes pride in being personally involved in local businesses, communities, and charitable organizations. Its ability to be responsive to the needs of customers and community has led its continued growth. For more information about Rhinebeck Bank or any of its products or services, please visit: www.RhinebeckBank.com.
Media Contact
William C. Irwin, Chairman of the Board
(845) 790-1514
SOURCE: Rhinebeck Bancorp, Inc.
View the original press release on ACCESS Newswire
FAQ
What were Michael Quinn's key achievements as CEO of Rhinebeck Bank (RBKB)?
When will Michael Quinn retire from Rhinebeck Bank (RBKB)?
How is Rhinebeck Bank (RBKB) managing the CEO succession process?
What growth metrics did Rhinebeck Bank (RBKB) achieve under Quinn's leadership?
