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.

As of December 31, 2025, Adirondack had total assets of $942 million and 19 branches throughout the greater New York region.

As of December 31, 2025, Arrow had total assets of $4.4 billion and 38 branches throughout the greater New York region.

Luse Gorman is serving as legal counsel to Adirondack in the merger. The Luse Gorman team consisted of Jeff Cardone, Marc Levy, Greg Sobczak, Max  Seltzer, Brendan Clegg, and Anahita Mohtasham.

Luse Gorman has acted as counsel on more than 100 bank M&A transactions during the past seven years and on more bank M&A transactions than any other law firm in the nation over the past 20 years. To learn more about our mergers and acquisitions practice, please visit our website.