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.

Arrow Financial Corporation announced that its subsidiary, Upstate Agency, LLC, entered into a definitive agreement to acquire Skene Valley Agency, Inc., an independent insurance agency based in Washington County, New York. The transaction is targeted to close by the end of the third quarter of 2026. Upon completion, Skene Valley Agency will merge with and into Upstate Agency, expanding operations in the region and enhancing personal and business insurance solutions. Arrow Financial Corporation operates as a bank holding company providing banking, insurance, and wealth management services.

Arrow Financial Corporation reported second quarter 2026 net income of $11.0 million, or $0.66 per diluted share, down from $13.5 million in the prior quarter. Results were impacted by $1.0 million in merger-related expenses from the July 1, 2026, acquisition of Adirondack Bancorp, Inc. and a $1.6 million specific reserve for a commercial real estate credit following a borrower bankruptcy. The company also declared a quarterly cash dividend of $0.30 per share, payable August 25, 2026, to shareholders of record on August 11, 2026. The Adirondack acquisition adds approximately $1.0 billion in assets and 19 branch locations. Arrow Financial Corporation is a financial holding company that operates a full-service commercial bank and an insurance agency.

Arrow Financial Corporation closed its acquisition of Adirondack Bancorp, Inc. and its subsidiary Adirondack Bank, which merged into Arrow Bank. Adirondack common stock holders will receive 1.8610 shares of Arrow common stock and $18.72 in cash per share. Rocco F. Arcuri, Sr. was appointed as a director and Senior Vice President, Regional President, Mohawk Valley of Arrow Bank. Arrow Financial Corporation is a financial services company providing banking services.

On June 9, 2026, Adirondack Bancorp, Inc. stockholders voted to approve a merger with Arrow Financial Corporation. The transaction has received regulatory approval from the New York State Department of Financial Services and the Office of the Comptroller of the Currency, and Arrow received a filing waiver from the Federal Reserve Bank of New York. The merger is expected to close on July 1, 2026, resulting in Adirondack merging into Arrow and Adirondack Bank merging into Arrow Bank National Association. Arrow Financial Corporation is a financial services company that operates as a bank holding company.