By Susan Ellse Campbell
Arrow Financial Corporation has finalized plans to unify its two banking subsidiaries and is soon to reveal a new logo and signage under which the two financial institutions are being rebranded, announced parent company president and CEO David S. DeMarco.
The 37 branches of Glens Falls National Bank and Trust Company and Saratoga National Bank and Trust Company will be named Arrow Bank going forward, he said.
DeMarco said the change was years in the making.
“What we are doing is different from an ordinary bank merger, as Arrow Financial already owned these two community banks,” he said.
DeMarco explained that since the two banks have different back offices, the systems behind their operations have to become one to achieve the efficiencies the parent company is seeking.
“Sharing the same ‘back room’ is more efficient than two banks doing the same functions independently,” said DeMarco. “This will free up resources to enhance our strategic growth opportunities and provide unparalleled customer service.”
Glens Falls National Bank was formed in 1851 and, like Saratoga National Bank, has a strong presence in the communities it serves. The latter was formed in 1988 and has been a subsidiary of Arrow Financial since its beginning. But the two banks have different charters.