Market Overview

Kinderhook Bank Corp. Reports Results for Six Months 2018


Kinderhook Bank Corp. ("KBC"), (OTCQB:NUBK), the holding company for The
National Union Bank of Kinderhook (the "Bank"), announced results for
the six months ended June 30, 2018.

Net income available to common shareholders was $2.3 million, or $1.72
(diluted) per common share, for the six months ended June 30, 2018,
compared with $0.7 million, or $1.00 (diluted) per common share, for the
six months ended June 30, 2017.

Results for the first six months of 2018 included an after-tax gain on
loan sales of $275 thousand or $0.18 per share (diluted) as well as an
after-tax loss on sale of securities of $124 thousand or $0.08 per share
(diluted). Results for the first six months of 2017 included an
after-tax charge of $322 thousand or $0.30 per share (diluted) of
one-time merger and transactions costs related to the Bank's acquisition
of Patriot Federal Bank which was completed on November 10, 2017.

Total assets at June 30, 2018 were $637 million compared to $464 million
at June 30, 2017. Net loans grew at an annualized 8% rate for the first
six months of 2018.

KBC and Bank President and Chief Executive Officer, John A. Balli,
stated, "I am very pleased that net income per common share (diluted)
for the first six months of 2018 was greater than the same period for
any previous year. We continue to experience strong growth and increases
in our loans and deposits." Balli continued, "Our remarkable team of
talented bankers looks forward to serving our many new customers."

In operation since 1853, and celebrating 165 years serving the
community, Kinderhook Bank's main office is located in Kinderhook with
branches in Albany, Amsterdam, Canajoharie, Chatham, Delmar, East
Greenbush, Greenport, Johnstown, Latham, and Valatie NY.

Member FDIC.

Forward-Looking Statements

This news release may contain statements relating to future results of
KBC's and the Bank's future results that are considered
"forward-looking" statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements are based on
the beliefs and expectations of management as well as the assumptions
and estimates made by managing using information currently available to
management. Since these statements reflect the views of management
concerning future events, these statements involve risks, uncertainties
and assumptions, including among others: changes in market interest
rates and general and regional economic conditions; changes in laws and
regulations; changes in accounting principles; and the quality or
composition of the loan and investment portfolios, technological changes
and cybersecurity matters, and other factors. Forward-looking statements
made by KBC in this news release speak only as of the date they are
made. Events or other facts that could cause KBC's actual results to
differ may arise from time to time and KBC cannot predict all such
events and factors. KBC undertakes no obligation to publicly update any
forward-looking statement unless as may be required by law.

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