Arrow Financial to acquire Adirondack Bancorp; consideration 1.8610 shares + $18.72 cash per share

ARROW FINANCIAL CORP

Merger consideration: 1.8610 Arrow shares plus $18.72 cash per Adirondack share; intended as tax-free reorganization.
Adirondack CEO Rocco Arcuri will join Arrow and Arrow Bank boards and serve as Regional President after closing.
Deal requires Adirondack shareholder vote, regulatory approvals from Fed, OCC, NYDFS, and other customary conditions.
Termination fee of $3.62M payable by Adirondack under certain circumstances; voting and lock-up agreements in place.
Expected to close in 2026; Arrow will file S-4 proxy/prospectus with SEC.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ARROW FINANCIAL CORP entered into Agreement and Plan of Merger with Adirondack Bancorp, Inc., Arrow Merger Sub, Inc. (effective 2026-02-25).

Action: entry
Agreement: merger
Counterparty: Adirondack Bancorp, Inc., Arrow Merger Sub, Inc.
Effective: 2026-02-25

Exact text from the filing

On February 25, 2026, Arrow Financial Corporation, a New York corporation ("Arrow") entered into an Agreement and Plan of Merger (the “Agreement”) with Adirondack Bancorp, Inc., a New York corporation (“Adirondack”) and Arrow Merger Sub, Inc. (“Merger Sub”), a Maryland corporation and wholly owned subsidiary of Arrow.

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ARROW FINANCIAL CORP filing history →

Source: SEC EDGAR

accession 0000717538-26-000030

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