Adirondack Bancorp to merge with Arrow Bank in a $89.1m deal.

Adirondack Bancorp, a bank that offers personal and commercial banking services, agreed to merge with Arrow Bank, a full-service community bank, in a $89.1m deal. "Arrow Bank and Adirondack Bank are two deeply rooted and culturally aligned community banks that share a long-standing commitment to building strong relationships, understanding the important role we play in local economic growth and community support. As our company celebrates its 175th anniversary, this strategic acquisition shows Arrow's commitment to accelerating our growth and expanding our market presence. Bringing together these two institutions allows us to complement Adirondack's current product offerings with our wealth management and insurance services and deliver meaningful value for our shareholders," David S. DeMarco, Arrow President and CEO.