February 27, 2026
On February 25, 2026, Adirondack Bancorp, Inc. (“Adirondack”), the parent company for Adirondack Bank (“Adirondack Bank”), entered into an agreement and plan of merger (the “Agreement”) with Arrow Financial Corporation (“Arrow”), the parent company of Arrow Bank National Association (“Arrow Bank”) and Arrow Merger Sub, Inc. Pursuant to the Agreement, Arrow will be the surviving parent company and Arrow Bank will be the surviving bank. The cash and stock transaction is valued at $89.1 million.
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February 27, 2024
To our clients and friends:
Item 402(x) of Regulation S-K, promulgated as part of the SEC’s final rule on insider trading arrangements, is effective today. Item 402(x) will require additional narrative disclosure of internal policies and practices governing the timing of stock option grants, as well additional tabular disclosure if stock option grants are made in proximity to the release of material nonpublic information.
Our Alert regarding the requirements and certain changes issuers should consider is available here.
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March 3, 2022
On February 28, 2022, Barksdale Federal Credit Union, Bossier City, Louisiana, announced that it had entered into a purchase and assumption agreement to acquire substantially all of the assets and assume substantially all of the liabilities of HomeBank of Arkansas, Greenbrier, Arkansas.
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March 4, 2021
On March 3, 2021, Severn Bancorp, Inc., Annapolis, Maryland, announced the signing of a definitive merger agreement with Shore Bancshares, Inc., Easton, Maryland, pursuant to which Severn Bancorp, Inc. will merge with and into Shore Bancshares, Inc. The stock and cash transaction is valued at approximately $146 million. The transaction will create the third largest bank headquartered in Maryland, with total assets of approximately $2.9 billion.
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March 2, 2021
On February 28, 2021, Bogota Savings Bank, Teaneck, New Jersey, completed its merger with Gibraltar Bank, Parsippany, New Jersey.
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