Kinderhook Bank

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Kinderhook Bank Corp.
Consolidated Statements of Financial Condition
December 31, 2007 and 2006
(Unaudited)
	December 31, 2007	December 31, 2006
Assets
Cash and due from banks	$6,814,301	$ 5,252,841
Federal funds sold	6,018,727	7,010,691
Securities	46,933,367	43,115,854
Loans, net	116,389,234	100,770,478
Premises and equipment, net	5,987,214	3,260,482
Accrued interest receivable	927,876	756,476
Other assets	4,445,041	4,068,601
Other real estate owned	-	684,802
Total Assets	$ 187,515,760	$ 164,920,225

Liabilities and Equity Capital
Liabilities
Deposits	$ 170,572,805	$ 149,586,560
FHLB borrowings	-	-
Long-term debt	2,062,000	2,062,000
Accrued interest payable	455,000	356,537
Other liabilities	682,105	344,137
Total Liabilities	173,771,910	152,349,234

Shareholders' equity	13,743,850	12,570,991
Total Liabilities and Equity Capital	$ 187,515,760	$ 164,920,225

Kinderhook Bank Corp.
Consolidated Statements of Income
Years December 31, 2007 and December 31, 2006
(Unaudited)
	Years ended
	December 31, 2007	December 31, 2006
Interest income
Loans	$7,312,958	$6,371,285
Securities	2,054,667	2,006,015
Federal funds sold & other	385,006	121,786
	9,752,631	8,499,086
Interest expense	3,972,566	3,006,247
Net interest income	5,780,065	5,492,839

Provision for loan losses	32,687	46,178
Net interest income after
provision for loan losses	5,747,378	5,446,661

Noninterest income
Service charges	857,087	745,774
Other	237,716	155,807
	1,094,803	901,581
Realized gain (loss) on available-for-sale
securities	-	(23,746)

Noninterest expense
Salaries and employee benefits	2,842,612	2,641,467
Occupancy	668,744	613,505
Other	1,660,767	1,503,958
	5,172,123	4,758,930

Income before income taxes	1,670,058	1,565,566
Income taxes	337,679	341,324
Net income	$1,332,379	$1,224,242

Net income per common share outstanding	1.90	$ 1.75