Skip to main content
Enter search terms below…

Member News

Kinderhook Bank Receives Merger Approval



The National Union Bank of Kinderhook (“Kinderhook Bank”), announced that it has received approval from the Office of the Comptroller of the Currency (“OCC”) to merge with Patriot Federal Bank (“Patriot”). As previously announced, Kinderhook Bank and Patriot agreed to merge in an all-stock transaction in which Patriot will merge with and into Kinderhook Bank.

The proposed merger of these two community banks is subject to approval by the shareholders of Patriot and customary closing conditions. The transaction is expected to close in the fourth quarter of 2017.

The combined organization would operate as Kinderhook Bank with 11 offices across five counties and, based on financial results as of December 31, 2016, approximately $601 million in total assets, $446 million in total loans and $521 million in total deposits.

Cranmore, FitzGerald & Meaney served as legal counsel to Kinderhook Bank and parent company Kinderhook Bank Corp. and filed the merger application with the OCC.

About Kinderhook Bank Corp.

Kinderhook Bank Corp. is the parent company of The National Union Bank of Kinderhook, a national bank established in 1853 to serve the banking needs of customers throughout Columbia County and has expanded into Albany and Rensselaer counties in New York State. Kinderhook Bank is the sole bank headquartered in Columbia County with branch locations in Albany, Chatham, Delmar, East Greenbush, Greenport, Kinderhook, Latham and Valatie, New York. As of December 31, 2016, The National Union Bank of Kinderhook had total assets of approximately $460 million; total loans of approximately $332 million; total deposits of approximately $403 million; and total capital of approximately $43 million.

About Patriot Federal Bank

Patriot is a federally chartered savings institution which has served the banking needs of customers in Montgomery and Fulton County, New York since its organization in 2005 with three (3) offices in Amsterdam, Canajoharie and Johnstown. Patriot offers a variety of savings and checking products as well as commercial, residential and consumer lending. As of December 31, 2016, Patriot had total assets of $141 million; loans of $114 million; deposits of $118 million; and total capital of approximately $12.3 million.

Hudson Valley Community College will hold its annual Homecoming weekend festivities this weekend, starting with a dedication of the college Foundation’s new Alumni House on Thursday, Sept. 22 and continuing with a full slate of events throughout the weekend. Most events are open to the public; please note where RSVPs are required. THURSDAY, SEPT.…
Opportunities for Local Businesses to Showcase Student Art View Photos Here (Albany) – September 26, 2022. Dr. Martin Kilbridge, President of Academy of The Holy Names, announced today the successful launch of its annual Traveling Art Show. Under the direction of Art Teacher, Dana Sela, and Director of Enrollment Management, Wendy Diefendorf, the…
Hudson Valley Community College has signed an agreement that solidifies a long-term working partnership with Regeneron, a leading global biotechnology company with headquarters and manufacturing operations in New York State. For over a decade, the college’s Biology, Chemistry and Physics Department has worked closely with Regeneron, which has…
Sep
28
You are invited to attend the Ribbon Cutting for Choice Physical Therapy – Wynantskill!   What:                   Ribbon Cutting for Choice Physical…
Ribbon Cutting
Sep
29
A Celebration of Excellence in Our Community For more than 30 years, the Chamber has recognized businesses that invest in the economic, cultural and…
Reception, Awards, Dinner
Sep
30
You’re invited to attend the Ribbon Cutting for Community Resource Federal Credit Union!   What:                   Ribbon Cutting for Community Resource…
Ribbon Cutting