ALLENTOWN, PA--(Marketwired - Nov 19, 2015) - Ambassador Financial Group, Inc. today announced the successful completion of a $10 million private placement of subordinated debt for Kinderhook Bank Corp. (
Based in upstate New York, Kinderhook Bank Corp. is a financial holding company for The National Union Bank of Kinderhook (the "Bank") and The Kleebler Agency Inc. Founded in 1853, the Bank provides a broad range of products and services to businesses and retail customers through eight bank offices in three upstate counties.
John A. Balli, CEO of Kinderhook Bank Corp., commented, "I am pleased with the capital raise process Ambassador put together. It will allow us to redeem our SBLF preferred stock and also provide for future growth." Eric Tesche, Managing Director of Ambassador, added, "This issuance will limit dilution to shareholders and position the company for the future."
This announcement is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy securities.
About Ambassador Financial Group
Ambassador Financial Group, a FINRA registered broker-dealer, headquartered in Allentown, PA, offers a comprehensive suite of strategic, customized solutions to community banks and thrifts nationwide, including balance sheet management, investment banking, investor relations, and capital markets services. Ambassador Financial Group's recent successes include:
- Oconomowoc Bancshares, Inc. (WI) $12 million private placement of subordinated debt
- Pathfinder Bancorp, Inc. (NY) $10 million subordinated loan agreement
- Old Line Bancshares, Inc. (MD) $6.6 million proposed acquisition of Regal Bancorp, Inc. (MD)
- Eagle National Bancorp, Inc. (PA) $25.3 million proposed acquisition by ESSA Bancorp, Inc. (PA)
- Juniata Valley Financial Corporation (PA) $13.2 million proposed acquisition of FNBPA Bancorp Inc. (PA)
- Nicolet Bankshares, Inc. (WI) $12 million private placement of subordinated debt
- York Traditions Bank (PA) $5.0 million private placement of subordinated debt
- Carroll Bancorp (MD) $5.1 million private placement of common equity
Contact Information:
Eric R. Tesche
Managing Director
610.351.1633
Matthew Resch
Managing Principal
610.351.1633
Robert Pachence
Managing Principal
610.351.1633
David Danielson
Head of Investment Banking
240.242.4083