Arrow Financial Corporation closed its acquisition of Adirondack Bancorp, Inc. on July 1, 2026, merging Adirondack Bank into Arrow Bank. Under the merger agreement dated February 25, 2026, each share of Adirondack common stock was converted into 1.8610 shares of Arrow common stock and $18.72 in cash. The total consideration transferred was approximately $101.1 million, resulting in the recognition of $46.6 million in goodwill and $16.4 million in core deposit intangibles on Arrow's balance sheet. This filing serves as an amendment to a previous 8-K to include Adirondack’s unaudited financial statements for Q1 2026 and pro forma combined financial information. The company operates in the banking industry, providing retail, commercial, and municipal banking services through its subsidiaries.
