Arrow Financial Unifies Banking Subsidiaries and Rebrands as Arrow Bank

GLENS FALLS, N.Y. (January 2, 2025) — Arrow Financial Corporation (NasdaqGS^® - AROW) today announced that its subsidiary, Glens Falls National Bank and Trust Company has unified with its affiliate bank, Saratoga National Bank and Trust Company, and the resulting bank has legally changed its name to Arrow Bank National Association, or Arrow Bank.

This strategic unification simplifies the bank’s brand identity, strengthens its market presence and better positions the bank for future growth while maintaining the same local, personalized service that’s been its hallmark. Behind Arrow Bank’s new name are the same great people and the same trusted services its customers have come to know and expect. 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 start rolling out new branding in January, including updates to bank signage and other materials.

“This unification marks a significant step forward in aligning our mission, vision and values across all areas of our business,” said David S. DeMarco, President and CEO of Arrow Financial Corporation. “While our brand evolves, our unwavering commitment to quality service, trusted relationships and community engagement remains unchanged. I’d like to thank the Arrow team for their dedication and hard work in bringing us to this milestone and for their continued efforts as we move forward together.”

With a proud history dating back to Glens Falls National Bank’s founding in 1851 and Saratoga National Bank’s formation in 1988, this unification honors the legacy and strengths of the bank’s individual brands, combining their rich histories into a single, cohesive identity. Arrow Bank will continue to grow while honoring its history and deep local roots. Under its new name, Arrow Bank remains part of Arrow Financial Corporation, a publicly traded company headquartered in Glens Falls, New York.

Arrow Bank operates 38 branches in northeastern New York, stretching from Albany to Clinton counties. Arrow Financial Corporation currently has an asset size of approximately $4.4 billion and more than 550 employees.

For more information and to stay up to date, please visit arrowbank.com

About Arrow Financial Corporation: Arrow Financial Corporation (NasdaqGS® - AROW) is a holding company headquartered in Glens Falls, New York, serving the financial needs of northeastern New York. The Company is the parent of Arrow Bank National Association, a full-service commercial bank, and Upstate Agency, LLC, a comprehensive insurance agency. Other subsidiaries include North Country Investment Advisers, Inc.

The information in this release 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 obliged 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.