Kinderhook Bank Corp, the parent bank holding company of The National Union Bank of Kinderhook, and Patriot Federal Bank completed their merger.

The combined organization will operate as “Kinderhook Bank” and have approximately $624 million in total assets, $469 million in total gross loans and $556 million in total deposits. As part of the merger agreement, Patriot shareholders will receive 0.300 shares of KBC common stock for each share of Patriot common stock.

A federally-chartered savings association organized in 2005, Patriot operated offices in Montgomery and Fulton counties, NY, all of which will remain open and operate as Kinderhook Bank branches.

Endicott Financial Advisors served as financial advisor to KBC and Kinderhook Bank and rendered a fairness opinion in connection with the transaction. Cranmore, FitzGerald & Meaney served as legal counsel to KBC and Kinderhook Bank. The Bank Advisory Group served as financial advisor to Patriot and rendered a fairness opinion. Hunton & Williams LLP served as legal counsel to Patriot.

Kinderhook Bank is a 164-year-old independent community bank with offices throughout Columbia, Albany and Rensselaer Counties in New York.