FOR IMMEDIATE RELEASE: WEDNESDAY, APRIL 23, 1997

NEW YORK—The Federal Reserve Bank of New York Wednesday announced that it has no objection to the notice by Kinderhook Bank Corp., Kinderhook, N.Y. to become a bank holding company with respect to the National Union Bank of Kinderhook, N.Y.

The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.