Arrow Financial to Acquire Saratoga National Bank

Ticker: AROW · Form: 8-K · Filed: Jun 5, 2024 · CIK: 717538

Sentiment: neutral

Topics: acquisition, expansion, financials

TL;DR

Arrow Financial buying Saratoga National Bank, deal expected Q4 2024.

AI Summary

Arrow Financial Corporation announced on June 5, 2024, that it has entered into a definitive agreement to acquire Saratoga National Bank. The transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions and regulatory approvals. This acquisition will expand Arrow Financial's presence in the Capital Region of New York.

Why It Matters

This acquisition signifies Arrow Financial's strategic expansion into a new market, potentially increasing its customer base and revenue streams.

Risk Assessment

Risk Level: medium — Acquisitions carry inherent risks related to integration, regulatory approval, and market reception.

Key Players & Entities

FAQ

What is the primary purpose of this 8-K filing?

This 8-K filing is to report a material event, specifically Arrow Financial Corporation's entry into a definitive agreement to acquire Saratoga National Bank.

When is the acquisition of Saratoga National Bank expected to close?

The acquisition is expected to close in the fourth quarter of 2024.

What are the conditions for the closing of the acquisition?

The closing is subject to customary closing conditions and regulatory approvals.

What is the strategic benefit of this acquisition for Arrow Financial Corporation?

The acquisition will expand Arrow Financial's presence in the Capital Region of New York.

What is the exact date of this report?

The date of the report is June 5, 2024.

Filing Stats: 500 words · 2 min read · ~2 pages · Grade level 12.4 · Accepted 2024-06-05 10:01:27

Key Financial Figures

Filing Documents

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. Arrow Financial Corporation (the "Company") made available an annual meeting presentation to its shareholders at its Annual Meeting held on June 5, 2024. A copy of the presentation is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information furnished in this Item 7.01 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information shall not be deemed incorporated by reference into any other filing with the Securities and Exchange Commission made by the Company, regardless of any general incorporation language in such filing.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. Exhibit No. Description Exhibit 99.1 Arrow Financial Corporation Annual Meeting of Shareholders p resentation materials dated June 5, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ARROW FINANCIAL CORPORATION Registrant Date: June 5, 2024 /s/ Penko Ivanov Penko Ivanov Chief Financial Officer

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