Kinderhook Bank - Chatham, NY

Kinderhook Bank
5 Depot Square
Chatham, New York 12037
Telephone: 518.392.8096
Fax: 518.392.8085
Email: acoons@nubk.com

Kinderhook Bank was established in 1853 to serve the financial needs of the community, its businesses, and its citizens. Kinderhook Bank, an independent community bank, will deliver a fair return to shareholders over time by marketing quality financial products through personal service that no competitor can match. We will employ top-notch people who are properly trained and fairly compensated for their efforts but who remain involved in our local communities. To continue our strong tradition of success in the future, we intend to maintain our reputation for integrity and pursue prudent business practices. By doing so, we will provide a firm foundation for promoting technological innovation in customer service and creating long-term career opportunities for our employees.

Company Profile
The bank is a member of the Federal Reserve, Federal Deposit Insurance Corporation, Independent Community Bankers of America, Federal Home Loan Bank, and the NYS Bankers Association.

History
Kinderhook Bank opened for business on October 1, 1853. The banking facility is believed to have been located in the north end of the frame building that housed Lathrop and Reynolds Hardware store in Kinderhook, New York. The building was leased from General Charles Whiting and stood on the southwest corner of Broad Street and Albany Avenue. On December 28, 1858, President William H. Tobey purchased the Van Vleck property for $5,250. The bank occupied the property on May 1, 1859.

The first president of the bank was William H. Tobey, the first vice-president was John Bain, and the cashier was William H. Rainey.

At the time of the organization of the bank, the nearest banks outside the village of Kinderhook were those in Albany to the north, Pittsfield to the east, Hudson to the south, and Coxsackie to the west and at that time the wide extent of country from which business could legitimately be drawn furnished a sufficient demand to employ all the banking facilities then in existence in this field.

The bank continued business without special incident until the great panic
of 1857, which placed a severe strain on the financial institutions of the
time.

In the following year, on the 15th of September, the bank was robbed by
burglars, who succeeded in blowing open the outer and inner safes with
powder and securing about ninety-five hundred dollars in cash, which the
bank subsequently recovered.

Immediately after the robbery, the bank purchased the premises on the corner of Chatham and Hudson streets and proceeded to fit up the brick building thereon for the use of the bank, constructing a very substantial vault of the then best known materials, with the best doors and inner safes that could then be procured. The bank occupied this building in the spring of 1859.

In March of 1865, the bank was converted into a National bank under the Laws of the United States, under the title of the National Union Bank of Kinderhook, and continued, as provided by law, for twenty years until 1885, when its corporate existence was extended for another twenty years, until 1905. The number of shareholders of the bank on the first of October, 1853, was fifty-three, and on the first of October, 1903, was one hundred and six.

Â©2009 Kinderhook Bank