Rhinebeck Bank CEO Matthew Smith on Community Banking, Open Architecture, and the Next 160 Years
In this episode of Travillian Next, Travillian host Keith Daly sits down with Matthew Smith, the new President, CEO, and Director of Rhinebeck Bank, a $1.3 billion publicly traded community bank headquartered in Poughkeepsie, New York, that has been serving its community since April 12, 1860. Six months into the role, Matt opens up about why he took the job, what it means to bring a tech-forward, banking-as-a-service background into a 160-year-old institution, and how he is rebuilding the culture around speed, transparency, and diversity of thought. From open architecture and a “fast follower” strategy to the bank’s second-step conversion, AI talent, and his road show to meet every employee in person, this is a candid look at what the next wave of community bank CEOs actually does in their first six months, and what they are betting on for the next five years.
Listen Here: Spotify | Apple Podcasts
00:00: Welcome and Introduction
Keith welcomes Matt Smith, President and CEO of Rhinebeck Bank, six months into the role at the $1.3 billion publicly traded community bank in Poughkeepsie, New York.
00:52: The First Six Months at Rhinebeck
Matt shares why the role has exceeded his expectations and how board and colleague support has accelerated cultural change.
02:19: Coming from Sterling and Webster Into a 160-Year-Old Bank
Matt’s tech-forward background, his interview conversations with the board, and how he set expectations early about thinking differently.
05:42: The Opportunity Cost of Standing Still
Why community banks need to look hard at what happens if they don’t evolve, and why the old playbook no longer fits the competitive landscape.
06:27: Diversity of Thought as a Competitive Advantage
Matt reframes the DEI conversation around thinking, not background, and why a stale leadership bench is a recipe for disaster.
09:39: 1950 Service, 2026 Technology
The balance every community bank has to strike: keep the relationships that make you special, and modernize the delivery.
11:21: The Moneyball Strategy for Community Banks
Why community banks can’t outspend the megabanks on product development, and how open architecture lets them compete anyway.
13:29: Reimagining the Client Experience for a Digital World
What customers expect now, why the bar keeps moving, and how Rhinebeck is thinking about omnichannel community banking.
14:27: Transforming the Bank from the Inside Out
Matt’s 50-page strategic plan, the offsite with the board, and the goal-alignment framework that pulled every employee into the strategy.
18:32: Building Culture and Meeting Every Employee in Person
The branch-by-branch road show, the employee survey results, and why transparency drives faster, better decisions.
20:58: Innovation Without Losing the Community Presence
How Rhinebeck plans to replicate the in-branch relationship in digital channels, plus a real-world story of converting a fintech customer.
25:13: The Talent Profile for the Next Phase
Skills Matt is hiring for now: experience design, enterprise architecture, payments, data scientists, and AI-fluent operators.
29:56: Where Community Banks Get Hiring Wrong
Why the obsession with identical-experience candidates limits growth, and the case for transferable skills and internal talent.
33:18: The Second Step Conversion and What It Unlocks
How exiting the MHC structure frees up capital and opens new M&A flexibility for Rhinebeck.
35:23: Advice for the Next Wave of Community Bank CEOs
What Matt tells aspiring CEOs and forward-thinking boards about finding the right fit and not taking no for an answer.
Matt Smith is exactly the kind of leader the community banking industry needs more of: tech-fluent, culturally intentional, candid about what is working and what is not, and unafraid to ask whether the old playbook still serves the next generation of customers. Six months in, Rhinebeck Bank has a 50-page strategic plan, a goal-aligned workforce, a second step conversion in motion, and a CEO who has personally met nearly every one of its 200 employees. The bank has been around since 1860. If Matt’s first six months are any indication, it will be around for the next 160 years too.
For another conversation with a CEO building a culture-first community bank, listen to Inside Five Star Bank’s Culture-First with Mike Rizzo.
