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Arrow Financial Corporation Announces Strategic Acquisition of Adirondack Bancorp, Inc.
Arrow Financial Corporation (NASDAQGS: AROW) ("Arrow" or "AROW"), the parent company of Arrow Bank National Association, and Adirondack Bancorp, Inc. ("Adirondack"), the parent company of Adirondack Bank, jointly announced today that both companies' boards of directors have unanimously approved an agreement and plan of merger (the "Agreement") pursuant to which Adirondack will merge with and into Arrow.
About this update from Arrow Financial Corporation
[{"type":"text","content":"GLENS FALLS, N.Y. and UTICA, N.Y., Feb. 26, 2026 /PRNewswire/ -- Arrow Financial Corporation (NASDAQGS: AROW) ("Arrow" or "AROW"), the parent company of Arrow Bank National Association, and Adirondack Bancorp, Inc. ("Adirondack"), the parent company of Adirondack Bank, jointly announced today that both companies' boards of directors have unanimously approved an agreement and plan of merger (the "Agreement") pursuant to which Adirondack will merge with and into Arrow.","length":515,"tagName":"p"},{"type":"image","alt":"Arrow Financial Corporation (PRNewsfoto/Arrow Financial Corporation)","displaySize":"","headline":null,"caption":"Arrow Financial Corporation (PRNewsfoto/Arrow Financial Corporation)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":31,"url":"https://media.zenfs.com/en/prnewswire.com/1fc657c0f055c7ef2b8ad9eb20e8df8d"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/cG1fOArPOHDYrAwpNyQI1w--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTU1O2NmPXdlYnA-/https://media.zenfs.com/en/prnewswire.com/1fc657c0f055c7ef2b8ad9eb20e8df8d","width":400,"height":31}},"href":"https://mma.prnewswire.com/media/2332152/Arrow_Financial_Corporation_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"This strategic acquisition extends Arrow's eight-county footprint farther into the Adirondack region and into the Mohawk Valley to include Oneida, Herkimer and Franklin counties, while strengthening its commitment to Essex and Clinton counties. Based on the financial results as of December 31, 2025, the combined company would have pro-forma total assets of $5.4 billion, total deposits of $4.8 billion, and total gross loans of $4.1 billion.1","length":453,"tagName":"p"},{"type":"text","content":"David S. DeMarco, Arrow President and CEO, stated, "Arrow Bank and Adirondack Bank are two deeply rooted and culturally aligned community banks that share a long-standing commitment to building strong relationships, understanding the important role we play in local economic growth and community support. As our company celebrates its 175th anniversary, this strategic acquisition shows Arrow's commitment to accelerating our growth and expanding our market presence. Bringing together these two institutions allows us to complement Adirondack's...