0000717538FALSE00007175382024-07-222024-07-22


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: July 22, 2024
(Date of earliest event reported)

ARROW FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
New York0-1250722-2448962
(State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification No.)
250 Glen StreetGlens FallsNew York12801
(Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code:518 745-1000

(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 ClassTrading SymbolName of each exchange on which registered
Common Stock, Par Value $1.00 per shareAROWNASDAQ Global Select Market
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 July 22 2024, Arrow received approval from the Office of the Comptroller of the Currency to combine its two subsidiary banks, Glens Falls National Bank and Trust Company and Saratoga National Bank and Trust Company, into one bank that will be known as Arrow Bank National Association. The combination will create operational efficiencies, unify branding and enhance Arrow's ability to pursue its strategic growth objectives.

A copy of the press release announcing the combination is furnished as Exhibit 99.1 to this report on Form 8-K.


Item 9.01. Financial Statements and Exhibits

Exhibit No. Description





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:July 23, 2024/s/ Penko Ivanov
Penko Ivanov
Chief Financial Officer


newsreleaselogoallreda18.jpg
250 Glen Street
Glens Falls, NY 12801
NASDAQ® Symbol: "AROW"
Website: arrowfinancial.com

Media Contact: Rachael Murray
Tel: (518) 415-4313


FOR IMMEDIATE RELEASE

Arrow to Unify Bank Subsidiaries into One Entity Renamed Arrow Bank

GLENS FALLS, N.Y. (July 23, 2024) — Arrow Financial Corporation (NasdaqGS® - AROW) has finalized plans to unify its banking subsidiaries, Glens Falls National Bank and Trust Company and Saratoga National Bank and Trust Company, into one entity to be renamed Arrow Bank National Association (“Arrow Bank”). Today’s announcement follows the necessary public comment period and regulatory approval by the Office of the Comptroller of the Currency.

"Our decision to unify our bank brands under the Arrow Bank name represents a pivotal moment in our company's history,” said David S. DeMarco, President and CEO of Arrow Financial Corporation. “Years of research and careful planning have led us to this moment, where we are poised to enhance our strategic growth opportunities and provide an unparalleled customer experience. This exciting development would not have been possible without the dedication of the Arrow team who already work together to offer financial solutions throughout our footprint.”

With a proud history dating back to Glens Falls National Bank’s founding in 1851 and Saratoga National Bank’s formation in 1988, Arrow Bank will remain deeply rooted in the communities it serves. Under its new name, Arrow Bank will continue to be part of Arrow Financial Corporation, a publicly traded company headquartered in Glens Falls, New York. The leadership team will remain unchanged, ensuring stability and continuity. Customers can continue to use all the same bank branch locations, and staffing will not be affected.

Arrow Bank will begin rolling out its new branding as part of the unification process. While the name may be updated, the bank remains dedicated to honoring its history and community-based approach to banking including through charitable contributions and volunteerism. Collectively, the banks operate 37 branches in northeastern New York, stretching from Albany to Clinton counties. Arrow currently has an asset size of approximately $4.2 billion and more than 550 employees.

“This brand unification allows Arrow Bank to showcase the scope of services we provide to our customers,” said Tenée R. Casaccio, Board Chair of Arrow Financial Corporation. “Moving forward as one bank, we will remain dedicated to personalized service while delivering value to our shareholders and support to our communities.”

------
Arrow Financial Corporation (NasdaqGS® - AROW) is a multi-bank holding company headquartered in Glens Falls, New York, serving the financial needs of northeastern New York. The Company is the parent of Glens Falls National Bank and Trust Company and Saratoga National Bank and Trust Company. Other subsidiaries include North Country Investment Advisers, Inc., and Upstate Agency, LLC, specializing in property and casualty insurance and group health and employee benefits.

The information in this document may contain statements based on management’s beliefs, assumptions, expectations, estimates and projections about the future. Such "forward-looking statements," as defined in Section 21E of the Securities Exchange Act of 1934, as amended, involve a degree of uncertainty and attendant risk. Actual outcomes and results may differ, explicitly or by implication. We are not obligated to revise or update these statements to reflect unanticipated events. This document should be read in conjunction with Arrow’s Annual Report on Form 10-K for the year ended December 31, 2023 and other filings with the Securities and Exchange Commission.


1
v3.24.2
Cover Page
Jul. 22, 2024
Cover [Abstract]  
Document Type 8-K
Entity Registrant Name ARROW FINANCIAL CORPORATION
Entity Incorporation, State or Country Code NY
Entity File Number 0-12507
Entity Tax Identification Number 22-2448962
Entity Address, Address Line One 250 Glen Street
Entity Address, City or Town Glens Falls
Entity Address, State or Province NY
Entity Address, Postal Zip Code 12801
City Area Code 518
Local Phone Number 745-1000
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, Par Value $1.00 per share
Trading Symbol AROW
Security Exchange Name NASDAQ
Entity Emerging Growth Company false
Entity Central Index Key 0000717538
Amendment Flag false
Document Period End Date Jul. 22, 2024
Grafico Azioni Arrow Financial (NASDAQ:AROW)
Storico
Da Dic 2024 a Gen 2025 Clicca qui per i Grafici di Arrow Financial
Grafico Azioni Arrow Financial (NASDAQ:AROW)
Storico
Da Gen 2024 a Gen 2025 Clicca qui per i Grafici di Arrow Financial