Skip to main content
Enter search terms below…

Member News

Kinderhook Bank Corp. Announces Stockholder and Regulatory Approvals for Proposed Merger



Kinderhook Bank Corp. (“Kinderhook”) (OTCQB:  NUBK), the parent bank holding company of The National Union Bank of Kinderhook (“Kinderhook Bank”) announced that at a Special Meeting of Stockholders on April 23, 2019, Kinderhook stockholders overwhelmingly voted to approve the proposed acquisition of Kinderhook by Community Bank System, Inc. (“CBU”)(NYSE: CBU), the parent bank holding company of Community Bank, N.A., (“Community Bank”) and the merger of Kinderhook Bank with and into Community Bank at the meeting of Kinderhook stockholders held yesterday.  Kinderhook reports that more than 97% of the votes cast were voted to approve the proposed merger and that more than 85% of issued and outstanding shares was represented at the meeting.  All required regulatory approvals have been received and the merger is expected to close on July 12, 2019.

John A. Balli, President and Chief Executive Officer of Kinderhook, stated, “The merger will join two high-quality franchises with long histories of service to their customers and communities.  We are pleased about the potential benefits of the merger for our stockholders, customers, the communities we serve, and our employees.  Our customers will continue to receive the highly personalized service they expect from many of the same people they already know and trust, while having access to an expanded set of products and services available from the larger combined organization with an extensive branch network.”

Pursuant to the terms of the merger agreement, Kinderhook will merge with Community, and Kinderhook Bank will merge with and into Community Bank in an all cash transaction.  Kinderhook stockholders will receive $62.00 per share of KBC common stock that they hold. 

Looking for something fun and exciting to do this fall?  START’s Fall Family Fun is a hauntingly, safely social distancing fun day out with family and friends. Your $10.00 entry fee supports START Children’s Center, Inc. in its commitment to make a difference for children, their families and the community.   When we receive your registration…
ALBANY, NY – October 21, 2020 – BST & Co. today announced a series of new appointments and promotions within several departments at the financial and management consulting firm. “We are very happy to welcome these highly-skilled individuals into their new positions with BST & Co.,” said BST & Co. Managing Partner Ron Guzior. “Each of…
First New York Federal Credit Union will be donating school supplies to the Schenectady City School District Office for distribution to the elementary and middle school locations on Monday, October 26th at 10:30am. While America's teachers work to navigate the educational challenges presented by COVID-19, the need for school supplies is more…
Oct
29
2020 Van Rensselaer Virtual Awards Ceremony A ceremony honoring outstanding examples of philanthropic giving and citizenship. For more than 25 years, the …
4:00 p.m. Virtual Awards Ceremony
Dec
17
Designed to help individuals new to WordPress environment, join Training and Development Specialist, Eleonora Morrell, MicroKnowledge, Inc. to learn how…
8:30 - 10:30 a.m. EST