Arrow Financial Corporation Completes Strategic Acquisition of Adirondack Bancorp, Inc.
Rhea-AI Summary
Arrow Financial (NASDAQGS:AROW) completed its strategic acquisition of Adirondack Bancorp and merged Adirondack Bank into Arrow Bank National Association. The combined company now reports approximately $5.4 billion in assets, $4.8 billion in deposits and $4.1 billion in gross loans as of March 31, 2026.
The transaction expands Arrow Bank’s footprint to 57 branches across northeastern New York and the Mohawk Valley, adds new counties including Oneida, Herkimer and Franklin, and brings Adirondack’s former CEO Rocco F. Arcuri Sr. onto Arrow’s leadership team and board.
Positive
- Strategic acquisition of Adirondack Bancorp completed
- Combined assets of approximately $5.4 billion
- Combined deposits of approximately $4.8 billion
- Combined gross loans of approximately $4.1 billion
- Branch network expanded to 57 locations across northeastern New York and Mohawk Valley
- Rocco F. Arcuri Sr. joins as Senior Vice President, Regional President, Mohawk Valley and board member
Negative
- Integration and banking systems conversion extend through late 2026
- Temporary dual branding of Arrow Bank and Adirondack Bank during transition period
News Market Reaction – AROW
In the Jul 1 session, AROW gained 2.63%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Acquisition Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jun 01 | Merger approval | Positive | +1.6% | OCC approval and timeline clarity for the Adirondack merger closing. |
| Feb 26 | Acquisition announcement | Positive | -0.4% | Initial announcement of Adirondack acquisition terms and pro forma metrics. |
| Aug 06 | Branch acquisition | Positive | +0.0% | Completion of Whitehall, NY branch acquisition expanding local footprint. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Acquisition-related news for AROW has typically produced modest, generally positive price reactions with one small negative divergence.
Key Terms
gross loans financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
The combined company has approximately
David S. DeMarco, Arrow President and CEO, stated, "Today we proudly welcome
In connection with the closing of the merger, Rocco F. Arcuri Sr., the former President and CEO of
Arcuri stated, "This marks the beginning of an exciting new chapter for our clients, employees and communities. I am proud to continue serving this market as Regional President and look forward to helping our clients benefit from the products, services and expanded resources that Arrow Bank provides while maintaining the local relationships they value most."
Integration teams will work closely together in the months ahead to ensure a seamless transition. Customers can continue to expect the same personal relationship-based service and local expertise they value today, with additional enhancements and expanded offerings becoming available as integration efforts progress. Beginning July 1, customers will begin to see Arrow Bank branding at
Additional information about what customers can expect throughout the transition is available at arrowbank.com.
About Arrow Financial Corporation
Arrow Financial Corporation is a bank holding company headquartered in Glens Falls, New York, providing banking, insurance and wealth management services across northeastern New York and into the Mohawk Valley through its full-service commercial bank Arrow Bank National Association. Arrow Bank, celebrating its 175th anniversary throughout 2026, provides a broad range of financial products, including online and mobile banking, mortgages, commercial loans, investments and more. Other subsidiaries include an insurance company, Upstate Agency, LLC. Arrow's common stock is traded on the Nasdaq Global Select under the symbol "AROW." Visit arrowfinancial.com for more information.
Forward-Looking Statements
The information contained in this press release may contain statements that are not historical in nature but rather are based on management's beliefs, assumptions, expectations, estimates and projections about the future. These statements can sometimes be identified by Arrow's use of forward-looking words such as "may," "will," "anticipate," "estimate," "expect," or "intend." These statements may be "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, involving a degree of uncertainty and attendant risk. In the case of all forward-looking statements, actual outcomes and results may differ materially from what the statements predict or forecast, explicitly or by implication because of various factors, including risks relating to the integration of Adirondack following the merger, changes in economic conditions or interest rates, credit risk, inflation, tariffs, cybersecurity risks, changes in FDIC assessments, bank failures, geopolitical events, difficulties in managing the Arrow's growth, competition, changes in law or the regulatory environment, and changes in general business and economic trends. Arrow undertakes no obligation to revise or update these forward-looking statements to reflect the occurrence of unanticipated events. This press release should be read in conjunction with Arrow's Annual Report on Form 10-K for the year ended December 31, 2025, and other filings with the SEC.
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SOURCE Arrow Financial Corporation