Oct 10 - John Balli, CEO of Kinderhook (N.Y.) Bank, announced that well-known Albany banker, Jeff Stone, has joined Kinderhook as its new senior vice president, retail and business development effective Oct. 3.
“Jeff is highly regarded in our banking community and will play a significant role in achieving our strategic growth plan of becoming the premiere community bank in the Capital District,” said Balli. “His depth of knowledge, experience, relationships and expertise is just what Kinderhook Bank needs as we embark on our new path. Everyone here is excited that Jeff has joined our team and we’re all ready to get to work.”
Stone was with Key Bank, N.A. for his entire 35 year banking career before a restructuring saw him leave his job as district president of the Capital Region. He began with Key in 1978 in Lowville, N.Y. In 1982, he opened and managed the bank’s Ogdensburg branch. From there, he worked in a number of upstate New York markets as well as in New England and the Northern Indiana/Southern Michigan area before coming to the Albany area in 2008.
“This is an exciting time for Kinderhook Bank,” said Stone. “Being able to help a team grow is what I love to do. Kinderhook is a strong local bank, with solid asset quality. They have committed their resources to the Capital District and the time is right to grow.”
Stone will be working alongside Balli to fulfill the bank’s strategic growth plan. He will be responsible for increasing Kinderhook Bank’s visibility, scouting new branch locations, overseeing all of the retail banking operations and marketing the bank. “My job is simple,” said Stone. “It’s to help grow the bank.”
“We’ve created this job for Jeff because we know he’s the right person to do this job,” said Balli. “We’re investing in the future of the bank. Jeff’s past experience will help us chart the future of Kinderhook Bank.”
Stone sits on the executive committee of the Center for Economic Growth. He is also the vice-chair of the Albany Medical Center’s board of directors where he also serves as chair of the finance committee. He also serves on the boards of the College of Saint Rose, the Palace Theater and the Totman Medical Research Foundation. He lives in Waterford with his wife, Diane. They have two daughters, Katie who is 28 and Brianna who is 26.
Kinderhook Bank has remained an independent community bank since 1853. It is a local bank with local leaders making decisions that help the financial well-being of our local consumers and businesses. With deep roots in the community, Kinderhook is changing the face of banking by changing the banking experience. The bank’s flagship branch in East Greenbush provides innovative banking technology in an intimate, concierge space where staff is on the floor greeting customers and delivering them the services they need. The bank provides public computers, even ones dedicated for children so they can be engaged while their parents bank, and a fine hotel lobby-like experience with comfortable seating and open space.
Kinderhook Bank has six branches in Columbia, Rensselaer and Albany Counties. The bank stock is traded OTC (NUBK).