Arrow Financial Corp., parent company of Glens Falls National Bank and Saratoga National Bank, has plans for a major renovation of its longtime headquarters at 250 Glen St. in downtown Glens Falls.
The project will begin in stages in the coming months and involves exterior and interior improvements, replacement of aging building equipment with new, energy-efficient systems, creation of a new lobby for customer transactions and development of additional space for lending and corporate offices, company officials said.
“As we prepare for anticipated growth in customer transactions, the proposed renovations to our headquarters will provide more efficient and flexible working space that can be adapted to the needs of our Arrow team, our customers and our business and will help us streamline processes and consolidate technology,’’ said Thomas J. Murphy, president and CEO of Arrow Financial Corp.
The project is expected to be completed in early 2023.
MLB Construction Services of Malta is the general contractor for the project and the architect is JMZ Architects & Planners PC in Glens Falls.
“We also propose to update obsolete heating, ventilation and air conditioning equipment with new energy-saving systems, while creating an attractive new lobby for the main branch of our subsidiary Glens Falls National Bank and Trust Co. that blends modern lighting and comfort with popular historic features.’’
The main campus of the Arrow Family of Companies occupies a prominent downtown corner in Glens Falls and includes the main office of Glens Falls National Bank and Trust Co. as well as back office and operational support for not only Glens Falls National, but also Saratoga National Bank and Trust Co. and Upstate Agency LLC.
Glens Falls National Bank was founded in 1851 in Glens Falls. While it has had a few homes since then, its current location on the corner of Glen and South streets is a well-known community landmark. As Arrow’s banking and insurance subsidiaries have grown over the last 20 years, the company has built out its workforce using the main campus and additional offices elsewhere.
More than 280 employees are based out of Arrow’s downtown campus, and more than 500 are employed company-wide in Northeastern New York. These renovations are the last and largest phase of a multi-year renovation to ensure better space utilization and address deferred maintenance.
“These renovations represent an investment in the future growth of Arrow Financial, in our ability to attract and retain top talent and in our capacity to deliver responsive and efficient service to better serve our customers for years to come,” said Murphy.
Arrow Financial Corp. is a multi-bank holding company headquartered in Glens Falls serving the financial needs of northeastern New York.