#United States #Glens Falls #Arrow Bank #AROW #Adirondack Bancorp

Arrow Financial Corporation's Strategic Acquisition of Adirondack Bancorp

On July 1, 2026, Arrow Financial Corporation (NASDAQGS: AROW) announced the successful completion of its strategic acquisition of Adirondack Bancorp, Inc. This significant move integrates Adirondack Bank into Arrow Bank National Association, thereby expanding the bank's operations and service capabilities across northeastern New York and the Mohawk Valley.

Expansion and Growth

The newly formed entity now boasts approximately $5.4 billion in total assets, $4.8 billion in deposits, and $4.1 billion in gross loans based on financial data as of March 31, 2026. This merger amplifies Arrow Bank's presence to 57 branches, allowing it to serve a larger customer base and reinforcing its commitment to communities in Essex and Clinton counties while reaching out to new clientele in Oneida, Herkimer, and Franklin counties.

David S. DeMarco, President and CEO of Arrow, expressed enthusiasm about the merger. He stated, "We proudly welcome Adirondack customers, employees, and communities into the Arrow Family. This merger brings together two community-centric banks that share a commitment to helping individuals and businesses thrive. Together, we will enhance our service offerings while maintaining that close, personalized approach our customers have come to appreciate."

The merger is especially significant as Arrow celebrates its 175th anniversary in 2026, marking a milestone that underlines its dedication to thoughtful growth and the creation of long-term value.

Leadership Transition

As part of the merger transition, Rocco F. Arcuri Sr., the former President and CEO of Adirondack, has been appointed as the Regional President of the Mohawk Valley and will serve on Arrow's Board of Directors. Arcuri remarked, "This marks an exciting new chapter for our clients and communities. It is an honor to continue serving this market as Regional President and I am eager to help our clients benefit from the vast array of products and resources now available through Arrow Bank."

Seamless Integration for Customers

In the coming months, integration teams from both banks will collaborate to ensure a seamless transition for customers. Customers can look forward to continued relationship-based service with the same local expertise they trust, alongside new enhancements and expanded service offerings as the integration progresses.

Beginning July 1, 2026, customers will start seeing the Arrow Bank branding at former Adirondack branch locations and in customer communications. However, during the transitional period, which includes the full integration of banking systems anticipated later in 2026, customers may still notice the Adirondack Bank name in some correspondence, such as documents and digital banking platforms. It is recommended that any references to Adirondack Bank post-July 1 should be interpreted as Arrow Bank.

For a comprehensive overview of what customers can expect throughout this transition, visit arrowbank.com.

About Arrow Financial Corporation

Arrow Financial Corporation, based in Glens Falls, New York, is a bank holding company that provides a wide range of banking, insurance, and wealth management services in northeastern New York and the Mohawk Valley through Arrow Bank National Association. The bank offers a variety of financial products, including online and mobile banking, loans, and investment services, as it commemorates its 175th anniversary. Arrow's common stock is traded on the Nasdaq Global Select under the symbol 'AROW'.

Looking Ahead

This acquisition signifies both banks' strong dedication to their customers and communities by enhancing financial services and resources, setting a solid foundation for their continued growth and success in the future.