Arrow Financial Completes $89.1M Acquisition of Adirondack Bancorp
AROW sits 59% above its 52-week low of $25.835.
Summary
Arrow Financial has completed its $89.1 million acquisition of Adirondack Bancorp. This follows months of regulatory and shareholder approvals, including OCC approval on June 1st and all necessary approvals by June 11th, as detailed in prior SEC filings and news. This definitive closing represents a significant strategic expansion for Arrow Financial, expanding its branch network and asset base.
At the time of this announcement, AROW was trading at $40.99 on NASDAQ in the Finance sector, with a market capitalization of approximately $677.5M. The 52-week trading range was $25.84 to $41.42. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.