2014 ANNUAL REVIEW
Our Business Customers Shared Their Experiences
We asked our business customers why they bank with us, and they responded with great
testimonials about their experiences. This positive feedback was the basis for a regional
advertising campaign that underscores our commitment to quality service at all levels.
G l e n s Fa l l s
N a t i o n a l B a n k
L e t
H e l p e d U s .
T h e m H e l p Yo u .
I h a v e b e e n i m p r e s s e d
w i t h t h e a b i l i t y o f t h i s
c o m m u n i t y b a n k t o p r o v i d e
t h e m o s t c u r r e n t t e c h n o l o g y
f o r m y b u s i n e s s , a l l o w i n g
m e t o b e c o m p e t i t i v e —
a n d m o s t o f a l l s a f e —
i n t h i s f a s t - c h a n g i n g
o n l i n e w o r l d .
B o b S m i t h
P r e s i d e n t , N i n e P l a t t H o s p i t a l
P l a t t s b u r g h , N e w Y o r k
i t y G r o u p
I n v e s t e d i n t h e C o m m u n i t y, C o m m i t t e d t o Yo u .
E q u a l H o u s i n g L e n d e r M e m b e r F D I C
g f n a t i o n a l . c o m
Saratoga
National Bank
Helped Us. Let
Them Help You.
I feel that my busi-
ness is truly valued at
Saratoga National Bank.
I especially appreciate the
personalized service that
only a community bank
can provide.
David Fusco (left)
Fusco Realty Group/Colonial Car Wash
Schenectady, New York
John Wyatt (right)
Vice President, Corporate Banking,
Saratoga National Bank
Glens Falls
National Bank
Helped Us. Let
Them Help You.
It is easy to love doing
business with Glens Falls
National Bank, as they are
there for you when you
need them. We have always
been made to feel as if we
are very important to the
Bank — and that is a
nice feeling.
Mike Hoffman
President, Turf Hotels
Fo r y o u r b u s i n e s s
b a n k i n g n e e d s , c a l l :
M a r g a r e t S t r e e t
5 6 1 - 3 1 0 1
C o r n e l i a S t r e e t
5 6 6 - 6 6 5 0
U . S . A v e n u e
3 2 4 - 4 3 6 2
Equal Housing Lender I Member FDIC
For your business
banking needs, call:
608-1044 | saratoganational.com
501 New Karner Road, Colonie • Rosewood Plaza
Invested in the Community, Committed to You.
Equal Housing Lender Member FDIC
For your business
banking needs, call:
793-4121 | gfnational.com
Saratoga National Bank Expanded to Colonie
Saratoga National Bank opened its eighth office last June in the growing community of Colonie, New York.
This branch has performed well in its first year, capturing both retail and commercial banking opportunities,
and providing an important introduction to the Albany County market.
Cover Photo: The courtyard at Glens Falls National Bank’s Main Office complex, Glens Falls, New York
Glens Falls
National Bank
Helped Us. Let
Them Help You.
It is easy to love doing
business with Glens Falls
National Bank, as they are
there for you when you
need them. We have always
been made to feel as if we
are very important to the
Bank — and that is a
nice feeling.
Mike Hoffman
President, Turf Hotels
Invested in the Community, Committed to You.
Equal Housing Lender Member FDIC
For your business
banking needs, call:
793-4121 | gfnational.com
To Our Shareholders, Staff and Friends:
We are pleased to
announce another
strong year for Arrow
Financial Corporation,
marked by growth and
solid financial results, as
described in this report.
Among the highlights,
our two bank subsidiaries launched totally
redesigned websites and added mobile
check deposit for retail customers. In
addition, Saratoga National Bank and Trust
Company continued to expand, opening
its eighth office last June in Colonie, New
York. This is our first branch in Albany
County, and it positions us well to capture
both retail and commercial banking op-
portunities in the dynamic Capital Region.
Last year also brought a number of
honors and recognitions. Both subsidiary
banks maintained a 5-Star Superior rating
from BauerFinancial, and Saratoga Nation-
tal Bank was recognized as the Capital
Region’s No. 1 Small Community Lender
by the Small Business Administration.
Plus, Arrow Financial Corporation was
again named one of “America’s 100 Most
Trustworthy Companies” by Forbes, a
“Top-Performing Mid-Sized Bank” by the
ABA Banking Journal, and included on
the Sandler O’Neill “Sm-All Stars Class
of 2014” list of top-performing small-cap
banks and thrifts.
Additionally, I would like to welcome
former Congressman Bill Owens to the
Arrow and Glens Falls National boards as
of January 2015. Bill has a deep knowledge
of the North Country and Plattsburgh
region – important markets for our
Company – and a strong commitment to
2014 Financial HigHligHts
• Record net income of $23.4 million
• Strong profitability, represented by
11.79% return on average equity (ROE),
1.07% return on average assets (ROA),
and 13.56% return on tangible equity
• 2% stock dividend distributed in
September
• Cash dividends paid to shareholders
effectively increased 2%
• Continued strong levels of capital, includ-
ing increases in book value per share
of 4.5% and stockholders’ equity of 4.6%
• Record assets of $2.217 billion at year-end
• $131.2 million in mortgage loans originated
• Strong asset quality, represented by only
0.37% of non-performing assets at year-end
and loans charged-off just 0.05% of average
loans outstanding
• Income from fiduciary activities rose 10.9%
• Insurance income increased 6.3%
his community. We are honored to have
him serve as a Director.
Looking ahead, our management team will
strive to continue to deliver shareholder
value by adhering to our conservative
business model. We are very proud of our
performance, our employees and our ser-
vice to our customers, our communities
and our shareholders.
We couldn’t do any of this without you
and your continued support. Thank you.
Sincerely,
Tom Murphy
President and Chief Executive Officer
PerFormance comParisons
$1.77
$1.76
$1.77
$1.73
$1,908
$1,963
$2,023
$1.85
$2,164
$2,217
2011
2014
2010
2012
DILUTED EARNINGS PER SHARE
2013
* For the 12 Months Ended December 31
2010
2011
2012
ASSETS
2013
2014
As of December 31
($ in Millions)
$.89
$.92
$.95
$.97
$.99
$1,534
$1,644
$1,842
$1,903
$1,731
2011
2014
2010
2012
CASH DIVIDENDS PAID PER SHARE
2013
* For the 12 Months Ended December 31
2010
2011
2013
2014
2012
DEPOSITS
As of December 31
($ in Millions)
$12.38
$13.33
$14.05
$15.24
$15.92
$192
$201
$152
$166
$176
2010
2011
2012
BOOK VALUE PER SHARE
2013
2014
2010
2011
2012
STOCKHOLDERS’ EQUITY
2013
2014
* As of December 31
As of December 31
($ in Millions)
*Per share amounts have been restated for stock dividends distributed.
total return PerFormance
Comparison of 5-Year Cumulative Total Return Assumes Initial Investment of $100
Comparison of 5-Year Cumulative Total Return Assumes Initial Investment of $100
December 2014
December 2014
Comparison of 5-Year Cumulative Total Return Assumes Initial Investment of $100
Comparison of 5-Year Cumulative Total Return Assumes Initial Investment of $100
December 2014
December 2014
2009
2010
2011
2012
2013
2014
250.00
250.00
200.00
200.00
150.00
150.00
100.00
100.00
50.00
50.00
0.00
0.00
Arrow Financial Corporation
2009
2010
NASDAQ Banks Index
2011
2012
Russell 2000 Index
2013
Zacks $1B-$5B Bank Assets Index
2014
Arrow Financial Corporation
NASDAQ Banks Index
2009
2010
Russell 2000 Index
2011
Zacks $1B-$5B Bank Assets Index
2012
2013
2014
Arrow Financial Corporation
NASDAQ Banks Index
Arrow Financial Corporation
100.00
2009
100.00
100.00
117.96
2010
118.92
117.96
107.90
2011
106.36
107.90
122.09
2012
127.24
122.09
137.93
2013
182.11
137.93
151.37
2014
191.37
151.37
Russell 2000 Index
NASDAQ Banks Index
100.00
100.00
126.81
118.92
121.52
106.36
141.42
127.24
196.32
182.11
205.93
191.37
Zacks $1B-$5B Bank Assets Index
Russell 2000 Index
100.00
100.00
117.59
126.81
109.67
121.52
131.82
141.42
181.24
196.32
192.66
205.93
Zacks $1B-$5B Bank Assets Index
100.00
117.59
109.67
131.82
181.24
192.66
250.00
250.00
200.00
200.00
150.00
150.00
100.00
100.00
50.00
50.00
0.00
0.00
Comparison of 10-Year Cumulative Total Return Assumes Initial Investment of $100
December 2014
Comparison of 10-Year Cumulative Total Return Assumes Initial Investment of $100
December 2014
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
Arrow Financial Corporation
2004
2005
2006
NASDAQ Banks Index
2008
2007
2009
Russell 2000 Index
2010
2011
Zacks $1B-$5B Bank Assets Index
2013
2012
2014
Arrow Financial Corporation
2005
2004
NASDAQ Banks Index
Russell 2000 Index
2006
2007
2008
2009
2010
2011
Zacks $1B-$5B Bank Assets Index
2014
2013
2012
100.00
100.00
2007
82.68
2006
88.53
2005
87.41
2004
100.00
Arrow
Financial
Arrow
Corporation
Financial
NASDAQ
Corporation
Banks Index
NASDAQ
Russell 2000
Banks Index
Index
Russell 2000
Zacks $1B-
Index
$5B Bank
Zacks $1B-
Assets Index
$5B Bank
Source: Prepared by Zacks Investment Research, Inc. Used with permission. All rights reserved. Copyright 1980 - 2015
Assets Index
2009
107.59
2010
126.91
2011
116.09
2008
100.95
104.51
97.60
121.71
86.29
129.84
65.50
102.38
55.70
124.42
61.09
100.00
100.00
123.67
112.09
80.56
75.87
97.68
104.51
86.80
121.71
62.62
129.84
52.66
102.38
56.01
124.42
100.00
100.00
109.68
123.67
100.95
63.28
126.91
62.62
107.59
52.66
116.09
56.01
88.53
109.68
100.00
112.09
63.28
80.56
87.41
97.68
82.68
86.80
65.50
61.09
97.60
86.29
75.87
55.70
2012
131.35
2013
148.40
2014
162.86
131.35
67.00
148.40
95.90
162.86
100.78
67.00
144.79
95.90
201.00
100.78
210.84
144.79
73.43
201.00
100.96
210.84
107.32
73.43
100.96
107.32
consolidated statements oF income (unaudited)
(in thousands, except per share amounts)
2010
2011
2012
2013
2014
Interest and Dividend Income
$ 84,972 $ 76,791 $ 69,379 $ 64,138 $ 66,861
Years Ended December 31
Interest Expense
23,695 18,679 11,957 7,922 5,767
_______ _______ _______ _______ _______
Net Interest Income
61,277 58,112 57,422 56,216 61,094
Provision for Loan Losses 1,302 845 845 200 1,848
_______ _______ _______ _______ _______
Net Interest Income After
Provision for Loan Losses
Total Noninterest Income
Total Noninterest Expense
59,975 57,267 56,577 56,016 59,246
19,089 25,928 27,099 28,061 28,316
47,418 51,548 51,836 53,203 54,028
_______ _______ _______ _______ _______
Income Before Taxes
31,646 31,647 31,840 30,874 33,534
Provision for Income Taxes 9,754 9,714 9,661 9,079 10,174
_______ _______ _______ _______ _______
Net Income
$ 21,892 $ 21,933 $ 22,179 $ 21,795 $ 23,360
_______ _______ _______ _______ _______
_______ _______ _______ _______ _______
Share and Per Share Data
Diluted Average Shares
Outstanding 12,352 12,466 12,502 12,573 12,633
Diluted Earnings Per Share $ 1.77 $ 1.76 $ 1.77 $ 1.73 $ 1.85
Cash Dividends Per Share
.89 .92 .95 .97 .99
Book Value Per Share 12.38 13.33 14.05 15.24 15.92
Tangible Book Value Per Share 10.97 11.19 11.94 13.17 13.89
Key Earnings Ratios
Return on Average Assets 1.16% 1.13% 1.11% 1.04% 1.07%
Return on Average Equity 14.56% 13.45% 12.88% 12.11% 11.79%
Return on Tangible Equity 16.42% 15.84% 15.24% 14.19% 13.56%
Net Interest Margin 3.58% 3.36% 3.26% 3.06% 3.17%
Capital Ratios
Tier 1 Leverage Ratio 8.53% 8.95% 9.10% 9.19% 9.44%
Total Risk-Based Capital Ratio 15.75% 15.96% 16.26% 15.77% 15.54%
Asset Quality Ratios
Nonperforming Assets to
Period-End Assets
Allowance for Loan Losses to
Period-End Loans
0.26% 0.41% 0.45% 0.37% 0.37%
1.28% 1.33% 1.30% 1.14% 1.10%
Share and per share amounts have been restated for stock dividends distributed.
consolidated Balance sHeets (unaudited)
(in thousands)
Assets
As of December 31
2010
2011
2012
2013
2014
Cash and Due from Banks $ 25,961 $ 29,598 $ 37,076 $ 37,275 $ 35,081
Interest-Bearing Deposits
5,118 14,138 11,756 12,705 11,214
at Banks
Investment Securities 685,904 713,948 724,293 763,148 673,014
Loans 1,145,508 1,131,457 1,172,341 1,266,472 1,413,268
Allowance for Loan Losses (14,689) (15,003) (15,298) (14,434) (15,570)
________ ________ ________ ________ ________
Net Loans 1,130,819 1,116,454 1,157,043 1,252,038 1,397,698
Premises and Equipment, Net 18,836 22,629 28,897 29,154 28,488
Goodwill and
Intangible Assets, Net 17,241 26,752 26,495 26,143 25,628
Other Assets 24,457 39,165 37,236 43,235 46,297
________ ________ ________ ________ ________
Total Assets $1,908,336 $1 ,962,684 $2,022,796 $2,163,698 $2,217,420
________ ________ ________ ________ ________
________ ________ ________ ________ ________
Liabilities and
Stockholders' Equity
Noninterest-Bearing Deposits $ 214,393 $ 232,038 $ 247,232 $ 278,958 $ 300,786
NOW and Savings Deposits 951,206 1,059,350 1,200,650 1,316,145 1,396,319
Time Deposits of $100,000
or More 120,330 123,668 93,375 78,928 61,797
Other Time Deposits 248,075 228,990 189,898 168,299 144,046
________ ________ ________ ________ ________
Total Deposits 1,534,004 1,644,046 1,731,155 1,842,330 1,902,948
Short-Term Borrowings 53,214 68,293 41,678 64,777 60,421
Federal Home Loan
Bank Term Advances 130,000 40,000 30,000 20,000 10,000
Other Long-Term Debt 20,000 20,000 20,000 20,000 20,000
Other Liabilities 18,859 23,960 24,138 24,437 23,125
________ ________ ________ ________ ________
Total Liabilities 1,756,077 1,796,299 1,846,971 1,971,544 2,016,494
Total Stockholders' Equity 152,259 166,385 175,825 192,154 200,926
________ ________ ________ ________ ________
Total Liabilities and
Stockholders' Equity $1,908,336 $ 1,962,684 $ 2,022,796 $ 2,163,698 $ 2,217,420
________ ________ ________ ________ ________
________ ________ ________ ________ ________
Boards oF directors
Arrow Financial Corporation
Thomas L. Hoy (Chairman)
Retired President and CEO
John J. Carusone, Jr.
Attorney
Carusone & Carusone
Tenée R. Casaccio, AIA
President
JMZ Architects and Planners, P.C.
Michael B. Clarke
Retired President and CEO
Lone Star Industries
Gary C. Dake
President
Stewart’s Shops Corp.
Director Emeriti
David G. Kruczlnicki
Retired President and CEO
Glens Falls Hospital
Elizabeth O’Connor Little
New York State Senator
45th District
David L. Moynehan
President
Riverside Gas & Oil Company, Inc.
John J. Murphy
Retired Executive Vice President,
Treasurer and CFO
Thomas J. Murphy, CPA
President and CEO
William L. Owens, Esq.
Partner
Stafford, Owens, Piller, Murnane,
Kelleher & Trombley, PLLC
Dr. Colin L. Read
Chair
Department of Economics and
Finance at SUNY Plattsburgh
Richard J. Reisman, DMD
Chairman - Section of Dentistry
Glens Falls Hospital
Richard J. Bartlett, Esq.
Mary-Elizabeth T. FitzGerald
Dr. Edward F. Huntington
Jan-Eric O. Bergstedt
Herbert O. Carpenter
George C. Frost
Michael F. Massiano (Chairman Emeritus)
Herbert A. Heineman, Jr.
Doris E. Ornstein
Glens Falls National Bank and Trust Company
Thomas L. Hoy (Chairman)
Retired President and CEO
Tenée R. Casaccio, AIA
President
JMZ Architects and Planners, P.C.
Michael B. Clarke
Retired President and CEO
Lone Star Industries
David G. Kruczlnicki
Retired President and CEO
Glens Falls Hospital
Elizabeth O’Connor Little
New York State Senator
45th District
David L. Moynehan
President
Riverside Gas & Oil Company, Inc.
Thomas J. Murphy, CPA
President and CEO
William L. Owens, Esq.
Partner
Stafford, Owens, Piller, Murnane,
Kelleher & Trombley, PLLC
Saratoga National Bank and Trust Company
Raymond F. O’Conor (Chairman)
Retired President and CEO
John J. Carusone, Jr.
Attorney
Carusone & Carusone
Gary C. Dake
President
Stewart’s Shops Corp.
James M. Dawsey
President
MLB Industries, Inc.
David S. DeMarco
President and CEO
Marianne Pompa LaRoche
Vice President
Pompa Bros.
Dr. Colin L. Read
Chair
Department of Economics and
Finance at SUNY Plattsburgh
Richard J. Reisman, DMD
Chairman - Section of Dentistry
Glens Falls Hospital
Frank J. Parillo
President
Saratoga Prime Properties
and Wilton Travel Plaza
Mary L. Passaretti, MS
Principal
Aztech Technologies, Inc.
management team
Arrow Financial Corporation
Thomas J. Murphy, CPA
President and CEO
Terry R. Goodemote, CPA
Executive Vice President and CFO
David S. DeMarco
Senior Vice President
Glens Falls National Bank and Trust Company
Thomas J. Murphy, CPA
President and CEO
Terry R. Goodemote, CPA
Senior Executive Vice President
and CFO
Mark E. Bulmer, CPA
Executive Vice President
Financial Services
David D. Kaiser
Executive Vice President
and Chief Credit Officer
Kathleen Kelleher
Executive Vice President
and Chief Information Officer
Donna M. Perkett
Executive Vice President
Retail Banking
Timothy C. Badger
Senior Vice President
Marketing/Shareholder Relations
Laurie A. LaFountain
Senior Vice President
Trust/Investment Division
Suzanna M. Bernd
Senior Vice President
Business Development
Katherine M. Dier
Senior Vice President
Branch Services
Karen E. Guiseppe
Senior Vice President
Director of Internal Audit
Michael J. Jacobs
Senior Vice President
Information Technology
Peter J. Lareau
Senior Vice President
and Chief Risk Officer
Peter F. Luciano
Senior Vice President
Consumer Loan Administration
Debra A. Meier
Senior Vice President
Human Resources
Kurt E. Moser
Senior Vice President
Corporate Banking
Saratoga National Bank and Trust Company
David S. DeMarco
President and CEO
Richard J. Ferguson
Senior Vice President
Corporate Banking
stockHolder inFormation
Arrow Stock
Arrow’s common stock trades on the NASDAQ Global Select MarketSM under the symbol “AROW”.
Dividend Reinvestment Plan
The Arrow Financial Corporation Dividend
Reinvestment Plan offers participants a conve-
nient and economical way to acquire common
stock of Arrow Financial Corporation without
payment of any brokerage commission or
service charge.
Participants may reinvest all cash dividends in
additional shares as well as make optional cash
contributions to buy shares.
Since the Plan is entirely voluntary, you may
join at any time and terminate whenever
you wish.
For more information, please contact:
American Stock Transfer and Trust Company
6201 15th Avenue
Brooklyn, NY 11219
Tel: (800) 278-4353
amstock.com
our locations
Glens Falls National Bank and Trust Company
gfnational.com
Main Office
250 Glen Street
Glens Falls, NY 12801
(518) 793-4121
Argyle Office
93 Main Street
Argyle, NY 12809
(518) 638-8261
Aviation Road Office
339 Aviation Road
Queensbury, NY 12804
(518) 793-5386
Bay Road Office
402 Bay Road
Queensbury, NY 12804
(518) 743-8349
Broad Street Plaza Office
Four Broad Street Plaza
Glens Falls, NY 12801
(518) 793-8844
Cambridge Office
25 West Main Street
Cambridge, NY 12816
(518) 677-2642
Chestertown Office
6353 State Route 9
Chestertown, NY 12817
(518) 494-2691
Cornelia Street Office
308 Cornelia Street
Plattsburgh, NY 12901
(518) 566-6650
Exit 18 Office
221 Corinth Road
Queensbury, NY 12804
(518) 636-3146
Fort Ann Office
110 George Street
Fort Ann, NY 12827
(518) 639-5591
Fort Edward Office
159 Broadway
Fort Edward, NY 12828
(518) 747-4165
Granville Office
8646 State Route 22
Granville, NY 12832
(518) 642-2206
Greenwich Office
132 Main Street
Greenwich, NY 12834
(518) 692-2201
Greenwich Drive-In Office
1153 State Route 29
Greenwich, NY 12834
(518) 692-9021
Kingsbury Office
3019 State Route 4
Hudson Falls, NY 12839
(518) 747-2061
Lake George Office
2252 State Route 9
Lake George, NY 12845
(518) 668-5461
Lake Luzerne Office
15 Main Street
Lake Luzerne, NY 12846
(518) 696-5819
Margaret Street Office
25 Margaret Street
Plattsburgh, NY 12901
(518) 561-3101
Port Henry Office
4307 Main Street
Port Henry, NY 12974
(518) 546-3312
Queensbury Office
696 Upper Glen Street
Queensbury, NY 12804
(518) 793-9656
Rt.9 - Queensbury Office
1002 State Route 9
Queensbury, NY 12804
(518) 798-7201
Salem Office
212 Main Street
Salem, NY 12865
(518) 854-3500
Schroon Lake Office
1080 Main Street
Schroon Lake, NY 12870
(518) 532-7121
Schuylerville Office
73 Broad Street
Schuylerville, NY 12871
(518) 695-3224
South Glens Falls Office
147 Saratoga Avenue
South Glens Falls, NY 12803
(518) 793-4431
Ticonderoga Office
123 Montcalm Street
Ticonderoga, NY 12883
(518) 585-9025
Ticonderoga Drive-In Office
1127 Wicker Street
Ticonderoga, NY 12883
(518) 585-3621
U.S. Avenue Office
5023 U.S. Avenue
Plattsburgh, NY 12903
(518) 324-4362
Warrensburg Office
3853 Main Street
Warrensburg, NY 12885
(518) 623-3036
Washington County Office
343 Broadway
Fort Edward, NY 12828
(518) 747-0601
Route 9 Wilton Office
3 Carpenter Lane
Saratoga Springs, NY 12866
(518) 584-8120
West Avenue Office
91 West Avenue
Saratoga Springs, NY 12866
(518) 583-6504
Saratoga National Bank and Trust Company
saratoganational.com
Main Office
171 South Broadway
Saratoga Springs, NY 12866
(518) 583-3114
Ballard Road Office
227 Ballard Road
Wilton, NY 12831
(518) 587-4051
Colonie Office
501 New Karner Road
Albany, NY 12205
(518) 608-1044
Corinth Office
238 Main Street
Corinth, NY 12822
(518) 654-9001
Clifton Park Office
386 Clifton Park Center Road
Clifton Park, NY 12065
(518) 935-2707
Jones Road Office
4208 Route 50
Saratoga Springs, NY 12866
(518) 587-8484
Capital Financial Group, Inc. Loomis and LaPann, Inc.
capitalfinancialgroupinc.com loomislapann.com
89 Saratoga Avenue
South Glens Falls, NY 12803
(518) 793-2885
250 Glen Street
Glens Falls, NY 12801
(518) 792-6561
Upstate Insurance Agency, LLC
upstateagency.com
South Glens Falls Office
89 Saratoga Avenue
South Glens Falls, NY 12803
(518) 793-5806
Warrensburg Office
3857 Main Street
Warrensburg, NY 12885
(518) 623-2710
Ticonderoga Office
98 Montcalm Street
Ticonderoga, NY 12883
(518) 585-6774
Willsboro Office
3423 State Route 22
Willsboro, NY 12996
(518) 963-4663
Chestertown Office
93 Riverside Drive
Chestertown, NY 12817
(518) 494-2417
Elizabethtown Office
223 Water Street, Suite 2
Elizabethtown, NY 12932
(518) 873-2149
Schroon Lake Office
1072 State Route 9
Schroon Lake, NY 12870
(518) 532-7396
McPhillips Insurance Agency – A Division of Glens Falls National Insurance Agencies, LLC
mcpins.com
Glens Falls Office
20 East Washington Street
Glens Falls, NY 12801
(518) 792-5841
Greenwich Office
132 Main Street
Greenwich, NY 12834
(518) 692-2831
Lake Luzerne Office
15 Main Street
Lake Luzerne, NY 12846
(518) 696-2000
Saratoga Springs Office
171 South Broadway
Saratoga Springs, NY 12866
(518) 306-2771
Warrensburg Office
3857 Main Street
Warrensburg, NY 12885
(518) 623-3151
The Thoroughbred of Banks
Insurance sInce 1852
A Subsidiary of Glens Falls National Bank and Trust Company
LLC
250 Glen Street • P. O. Box 307 • Glens Falls, NY 12801
Tel: (518) 745-1000
arrowfinancial.com