Arrow Financial unit to buy Skene Valley Agency
Rhea-AI Filing Summary
Arrow Financial Corporation (AROW) reported that its insurance subsidiary Upstate Agency, LLC, a subsidiary of Arrow Bank National Association, has entered into a definitive agreement to acquire Skene Valley Agency, Inc., an independent insurance agency in Washington County, New York. The transaction is targeted to close by the end of the third quarter of 2026. After the anticipated closing, Skene Valley Agency will merge into Upstate Agency, expanding Upstate’s operations in Washington County and broadening its personal and business insurance solutions.
Management describes the deal as a strategic growth opportunity to deepen Arrow’s presence in Washington County and to support the broader Arrow family of companies. The announcement highlights Upstate Agency’s more than 50 years of service in New York communities and Skene Valley Agency’s local footprint in Granville, Whitehall and Cambridge, New York.
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Filing Explained
The transaction would expand Upstate Agency through a post-closing merger, but its price and closing requirements are undisclosed.
Arrow Financial Corporation reports that its subsidiary, Upstate Agency, LLC, has entered a definitive agreement to acquire Skene Valley Agency, Inc., an insurance agency in Washington County, New York.
The transaction remains pending: the company targets closing by the end of the third quarter of 2026, after which Skene Valley would merge into Upstate Agency and expand its Washington County operations. The filing does not state a purchase price, other consideration, or closing conditions, so the transaction’s economic cost and completion requirements cannot be assessed from this disclosure.
8-K Event Classification
2 items: 8.01, 9.01
2 items
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Targeted closing timing: End of the third quarter of 2026
Upstate Agency operating history: More than 50 years
Skene Valley Agency founding year: 2002
+2 more
5 metrics
Targeted closing timing
End of the third quarter of 2026
Targeted closing date for the Skene Valley Agency acquisition
Upstate Agency operating history
More than 50 years
Length of time Upstate Agency has been serving New York communities
Skene Valley Agency founding year
2002
Year Skene Valley Agency was founded
Arrow Bank anniversary year
175th anniversary in 2026
Milestone year for Arrow Bank National Association
Common stock symbol
AROW
Arrow Financial Corporation trading symbol on Nasdaq Global Select Market
Key Terms
definitive agreement, independent insurance agency, forward-looking statements, bank holding company, +1 more
5 terms
definitive agreement financial
"has entered into a definitive agreement to acquire Skene Valley Agency"
A definitive agreement is a formal, legally binding document that outlines the final terms and conditions of a deal or transaction, such as a sale or partnership. It acts like a detailed contract that confirms all parties have agreed on the key details, making the deal official. For investors, it signals that the agreement is settled and moving toward completion, providing clarity and security about the transaction.
independent insurance agency financial
"Skene Valley Agency, Inc., an independent insurance agency in Washington County"
forward-looking statements regulatory
"These statements may be "forward-looking statements" within the meaning of Section 21E"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
bank holding company financial
"Arrow Financial Corporation is a bank holding company headquartered in Glens Falls"
A bank holding company is a parent corporation that owns one or more banks and other financial businesses, like a household that controls several shops under the same roof. Investors care because this structure determines how the business is regulated, how it raises capital, pays dividends, and absorbs losses; it can make a banking group safer or riskier and affects the value and liquidity of the company’s shares.
Nasdaq Global Select Market financial
"Arrow’s common stock is traded on the Nasdaq Global Select under the symbol"
A Nasdaq Global Select Market listing is the highest tier of stocks on the Nasdaq exchange, reserved for companies that meet the strictest financial, reporting and governance standards. For investors, it acts like a premium quality label—signaling larger, more transparent and better-governed companies that tend to offer greater liquidity and lower perceived risk compared with lower-tier listings, making it easier to buy, sell and evaluate shares.
FAQ
What transaction did Arrow Financial Corporation (AROW) announce on September 10, 2026?
Arrow Financial Corporation announced that Upstate Agency, LLC, its insurance subsidiary, entered into a definitive agreement to acquire Skene Valley Agency, Inc., an independent insurance agency in Washington County, New York.
When is the Skene Valley Agency acquisition by AROW’s subsidiary expected to close?
The acquisition of Skene Valley Agency by Upstate Agency, LLC is targeted to close by the end of the third quarter of 2026, subject to the conditions described in the agreement.
What will happen to Skene Valley Agency after the acquisition by AROW’s Upstate Agency?
Following the anticipated completion of the sale, Skene Valley Agency will merge with and into Upstate Agency, which is expected to expand Upstate’s operations in Washington County and enhance its personal and business insurance solutions.
Where do Upstate Agency and Skene Valley Agency primarily operate within New York?
Upstate Agency is based in South Glens Falls and serves New York communities, while Skene Valley Agency is based in Granville with satellite operations in Whitehall and Cambridge, all within New York.
How long has Upstate Agency, Arrow Financial’s insurance subsidiary, been operating?
Upstate Agency has been serving New York communities for more than 50 years, specializing in personal, commercial and group employee benefit insurance.
What is notable about Arrow Bank, the banking subsidiary of AROW, in 2026?
Arrow Bank National Association, Arrow Financial’s full-service commercial bank, is celebrating its 175th anniversary throughout 2026 while providing a broad range of banking and financial products.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: September 10, 2026
(Date of earliest event reported)
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
| (Address of principal executive offices) | (Zip Code) | |||||||||||||
| Registrant’s telephone number, including area code: | ||||||||||||||
(Former name or former address, if changed since last report)
| Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: | |||||
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol | Name of each exchange on which registered | ||||||
| Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). | ||||||||
| Emerging growth company | ||||||||
| If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act | ☐ | |||||||
Item 8.01 Other Events.
On September 10, 2026 , Arrow Financial Corporation, a New York corporation ("Arrow") announced via press release that Upstate Agency, LLC, a subsidiary of Arrow Bank® National Association, has entered into a definitive agreement to acquire Skene Valley Agency, Inc., an independent insurance agency in Washington County, New York. The full press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
| Exhibit No | Description | |||||||
| Exhibit 99.1 | Press Release dated September 10, 2026 issued by Arrow Financial Corporation | |||||||
| Exhibit 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ARROW FINANCIAL CORPORATION | ||||||||
| Date: | /s/ Penko Ivanov | |||||||
| Penko Ivanov Chief Financial Officer | ||||||||
250 Glen Street Glens Falls, NY 12801 NASDAQ® Symbol: “AROW“ Website: arrowfinancial.com Media Contact: Rachael Murray P: (518) 742-6505 E: rachael.murray@arrowbank.com FOR IMMEDIATE RELEASE Arrow Announces Acquisition of Insurance Agency in Washington County, N.Y. GLENS FALLS, N.Y. (September 10, 2026) — Arrow Financial Corporation (NasdaqGS® - AROW) today announced that Upstate Agency, LLC, a subsidiary of Arrow Bank® National Association, has entered into a definitive agreement to acquire Skene Valley Agency, Inc., an independent insurance agency in Washington County, New York. The sale is targeted to close by the end of the third quarter of 2026. Following the anticipated completion of the sale, Skene Valley Agency will merge with and into Upstate Agency, which will expand its operations in Washington County and further enhance its personal and business insurance solutions. David S. DeMarco, President and CEO of Arrow Financial Corporation said, “This strategic growth opportunity will allow us to deepen Upstate Agency’s presence in Washington County, where we have a long history of meeting diverse financial needs. Customers will benefit from the strength of our insurance offerings while we demonstrate our commitment to growing all facets of the Arrow Family of Companies.” Based in South Glens Falls, Upstate Agency has been serving New York communities for more than 50 years and specializes in personal, commercial and group employee benefit insurance. Founded in 2002, Skene Valley Agency is an independent insurance agency based in Granville, with satellite operations in Whitehall and Cambridge, New York. John Hoagland, President of Skene Valley Agency, has expanded the business over the decades and views joining Upstate Agency as a natural next step. “We pride ourselves on our personalized insurance solutions and building long-term relationships. With company missions that align, I’m excited to work with Upstate to combine our local expertise with added resources and capabilities.” ------- Safe Harbor Statement: 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," “target,” "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 changes in economic conditions or interest rates, credit risk, inflation, tariffs, cybersecurity risks, changes in FDIC assessments, bank failures, geopolitical events, difficulties in managing 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. INVESTOR RELATIONS CONTACT: Penko Ivanov Senior EVP, Chief Financial Officer & Treasurer Arrow Financial Corporation (518) 415-4512 penko.ivanov@arrowbank.com MEDIA CONTACT: Anna Jolly Duval VP, Communications Manager Arrow Financial Corporation (518) 338-6270 anna.duval@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.