Arrow Financial Subsidiary Glens Falls National Bank To Acquire The Branch Office At 184 Broadway, Whitehall, New York
Portfolio Pulse from Benzinga Newsdesk
Arrow Financial's subsidiary, Glens Falls National Bank, is set to acquire a branch office at 184 Broadway, Whitehall, New York. This acquisition will bring Glens Falls National Bank's total branches in Washington County to nine, including deposit accounts with an aggregate balance of approximately $39 million and loans of about $3 million.
March 04, 2024 | 10:18 pm
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NEUTRAL IMPACT
BHLB is not directly involved in the acquisition but may experience indirect effects due to competitive dynamics in the region.
While BHLB is not directly mentioned in the context of the acquisition, the expansion of Arrow Financial's subsidiary in Washington County could introduce new competitive dynamics that indirectly affect BHLB's operations in the area.
CONFIDENCE 50
IMPORTANCE 30
RELEVANCE 20
POSITIVE IMPACT
Arrow Financial's subsidiary acquisition of a branch in Whitehall, NY, will increase its presence in Washington County, adding $39 million in deposits and $3 million in loans.
The acquisition of the Whitehall branch by Arrow Financial's subsidiary is likely to positively impact AROW's stock in the short term due to the expansion of its banking operations and the addition of significant deposit and loan balances.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90