KINDERHOOK BK CORP COM USD0.01 (OTCMKTS:NUBK) has announced that its total assets and net income as of the end of September this year reached record high levels.

The report was issued by Kinderhook Bank’s president and CEO John A. Balli who stated that both assets and net income have reached a record high this year so far. The company recorded the impressive performance for the nine months since the beginning of 2016 to the end of September. The company’s consolidated income for the last nine months up to September 30 was $2.220 million. This marks a 25% increase in the net income figures compared to the $1.781 million that the banking company earned in the first nine months of 2015.

The company’s growing net income let to a 29% boost in earnings per diluted common share. The share earnings were $2.10 for the first nine months of this year as opposed to $1.63 for the first nine months of 2016. The company’s total assets at September 30, 2016, were valued at $447.9 million, marking a year-over-year growth rate of 11%. The value of the assets was also the highest it has ever been since the company was formed.

Kinderhook Bank also reported high deposit balances at $395.5 million. The deposit balances also registered an 11% year-over-year growth rate which was also record breaking at quarter-end levels. This means that 2016 has been one of the most fruitful years for the company.

“Our team has worked hard to get the Kinderhook Bank story out by delivering service that reminds people how banking used to be. We have been positioning the Bank to take advantage of changes in our markets and based on the growth of new accounts and many new customers, this is paying off” stated Mr. Balli.

The CEO believes that his company has been privileged to serve customers that are also its neighbors since the company is locally based. He also pointed out that the recent success is a message to customers that the bank values community investment, advanced banking technology, and personal service.