It has property of roughly $10.6 billion and is among the country’s a hundred and fifty largest monetary institutions. The deal values shares of Kinderhook Bank’s frequent stock at $62 a share and represents 193 percent of Kinderhook Bank’s tangible book value as of Sept. 30. Glassdoor provides our greatest ayesha arif funeral prediction for complete pay in right now’s job market, together with different forms of pay like money bonuses, inventory bonuses, revenue sharing, sales commissions, and ideas. Our model will get smarter over time as more folks share salaries on Glassdoor.
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President and Chief Executive Officer John A. Balli commented “We are pleased to supply a dividend enhance to our shareholders. We worth their support, which has allowed us to develop and supply outstanding banking companies to the communities we serve.” stated Balli. The merger is expected to close within the second quarter of 2019 and is topic to customary closing conditions, including approval by the shareholders of Kinderhook Bank Corp. and required regulatory approvals. All names, references and links to company/service/website are the property of their owners. The website administration is not liable for the accuracy of the knowledge left in feedback about the homeowners of the corporate, the quality of products and services. Any data may be posted by any visitor of our website personally, underneath his/her accountability.
Kinderhook Bank Corp. was based in 1853 and is headquartered in Kinderhook, New York. Kinderhook Bank Corp. has total assets of roughly $632 million, and is the holding company for The National Union Bank of Kinderhook. The bank’s business, municipal, and client clients take pleasure in personalized relationships, online and mobile banking options, with 11 branches in upstate New York. Kinderhook Bank Corp. is listed on the OTCQB Venture Market and trades beneath the image NUBK. Patriot is a federally chartered savings establishment which has served the banking needs of consumers in Montgomery and Fulton County, New York since its organization in 2005 with three workplaces in Amsterdam, Canajoharie and Johnstown.
National Union Bank of Kinderhook will provide Community Bank NA with $640 million in assets, $560 million in deposits and 11 banking places of work across 5 counties. Under the phrases of the acquisition settlement, shareholders of Kinderhook Bank Corp. will obtain $62 per share of Kinderhook frequent inventory, a price that represents approximately 193 percent of its guide value as of Sept. 30, 2018. Kinderhook Bank is headquartered in Kinderhook in Columbia County. It has complete belongings of almost $640 million, deposits of $560 million and eleven banking places of work across a five-county space. “This is the seventh consecutive yr that Kinderhook Bank Corp. has increased its dividend to shareholders.
Kinderhook Bank Corp. was acquired by Community Bank System, Inc. Kinderhook Bank Corp. operates as the bank holding company for The National Union Bank of Kinderhook that provides numerous banking services and products in New York. The firm operates via a network of eleven branch offices in New York.
The merger added eleven branch areas throughout a five-county area within the Capital District of Upstate New York. It additionally leads to Community Bank System having greater than $11.0 billion in belongings and over $9.zero billion in deposits, according to a news release. The Merger will prolong the Company’s footprint into the Capital District of Upstate New York with the addition of 11 branch locations throughout a five county area within the Capital District of Upstate New York. John A. Balli, president and chief government officer of Kinderhook Bank, will function president and chief govt officer of the mixed group. He expects the majority of Patriot staff might be invited to turn into part of the Kinderhook Bank team, and the bank will proceed its give attention to offering the highest degree of customer support. Pursuant to the phrases of the merger agreement, Patriot would merge into Kinderhook Bank and Patriot shareholders would receive zero.300 shares of Kinderhook Bank Corp. frequent stock for every share of Patriot Federal Bank frequent inventory.
By using this website, you are agreeing to safety monitoring and auditing. Kinderhook Bank sought to embrace their brand and focus their advertising in an effort to benefit from recent bank consolidations, which supplied potential enterprise development. Spiral performed in-depth marketing assessments and analysis into the Kinderhook Bank brand and current branches, culminating in a detailed imaginative and prescient board and advertising suggestions.