Adirondack Bank

What Adirondack Bank does

Adirondack Bank is the operating bank subsidiary of privately-held Adirondack Bancorp, Inc., a community bank founded in 1898 and headquartered at 185 Genesee Street in Utica, New York. The bank serves individual consumers, small-to-medium businesses, and municipal/government entities across the Mohawk Valley and North Country regions of upstate New York through a physical branch network (Utica, Little Falls, Plattsburgh, Saranac Lake) supplemented by online and mobile banking powered by Fiserv, Zelle® P2P payments, Apple Pay/Google Pay mobile wallet integration, CardValet card controls, and TeleBanc telephone banking. Core products include personal and business checking and savings accounts (multiple tiers such as Hometown, Campus, eCO, HSA, New Beginnings, ADvantage Business, Commercial, NOW, Super NOW, IOLA), CDs and IRAs, residential mortgages, home equity loans and lines of credit, consumer loans, commercial loans and mortgages, and personal and business credit cards. Specialized offerings include the three-tier Homebuyer Dream Program® (grants up to $14,500) targeting first-time and first-generation homebuyers, Cash Management services (Remote Deposit Capture, ACH Origination, Positive Pay, Bill Pay, Merchant Services), and municipal banking products.

The bank generates revenue primarily through net interest income from its loan portfolio (mortgages, home equity, consumer loans, commercial loans) and through fee-based banking services including account fees, wire transfers, and merchant services. Distribution combines branch-based relationship banking with digital self-serve channels (online account opening with a $25 minimum deposit) and a referral program offering $25 gift certificates for both referrer and referee on new checking accounts. Marketing is community-driven via local event sponsorships (Utica Comets, Boilermaker Road Race), social media, a financial education blog, and a Learning Center with interactive calculators. The bank is FDIC-insured, holds Equal Housing Lender designation, and participates in the SWIFT network for correspondent banking.

Adirondack Bancorp is currently being acquired by Arrow Financial Corporation (NASDAQGS: AROW) in a transaction announced February 26, 2026 valued at approximately $89.1 million, with Adirondack shareholders receiving 1.8610 shares of Arrow common stock plus $18.72 cash per share. OCC approval was received in June 2026, with closing expected on or around July 1, 2026 subject to remaining shareholder, NYDFS, and Federal Reserve approvals. The combined entity will have approximately $5.4 billion in total assets, $4.8 billion in total deposits, $4.1 billion in gross loans, and 58 offices across upstate New York, with projected 18% EPS accretion in 2027 and a 20% internal rate of return.

Name

Adirondack Bank

Legal name

Adirondack Bancorp, Inc.

Website

https://adirondackbank.com

Company type

Private

Founded year

1900

Operating status

Acquired

Headcount range

251–500 employees

Short description

Adirondack Bank is a privately-held community bank headquartered in Utica, New York, founded in 1898, serving individual consumers, small-to-medium businesses, and municipal entities across the Mohawk Valley and North Country regions of upstate New York through deposit accounts, lending, and cash management products distributed via branches and Fiserv-powered digital banking.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Regional/Diaspora-focused Neobanks (FSABAFAK)

akta.pro secondary industry

Credit & Overdraft Enablement (Credit Lines, Underwriting Integrations) (FSAGAAAJ)

Keywords

• Community banking services
• Personal checking accounts
• Commercial lending products
• Residential mortgage loans
• Municipal banking services

Headquarters

HQ city

Utica

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Interest Income: Traditional banking revenue from interest earned on loans including mortgages, home equity, consumer loans, and commercial loans
2. Fee-based Banking Services: Non-interest income from account fees, wire transfers, merchant services, and other banking service charges

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Core offering

Adirondack Bank is a regional community bank operating under Adirondack Bancorp, Inc., providing personal banking (checking, savings, CDs, IRAs), consumer lending (mortgages, home equity, personal loans, credit cards), business banking (commercial loans, business checking and savings, cash management, merchant services), and municipal banking (checking, savings, money market) to customers in the Mohawk Valley and North Country regions of upstate New York. Services are delivered through a branch network and digital channels including a Fiserv-powered mobile banking app and online banking platform, supplemented by specialized programs such as the three-tier Homebuyer Dream Program grants for first-time homebuyers.

Product overview

Adirondack Bank is a regional community bank offering a unified portfolio of personal, business, and municipal banking products. Its core offerings span deposit accounts (checking, savings, CDs, IRAs), lending (mortgages, home equity, consumer loans, commercial loans), and credit cards for both personal and business customers. Digital banking services including Online Banking and Mobile Banking (powered by Fiserv) serve as the primary delivery channels, supported by an extensive branch and ATM network across upstate New York. The bank also provides specialized programs such as the three-tier Homebuyer Dream Program® (HDP, HDP Plus, HDP Wealth Builder) for first-time homebuyers, and supplementary services including Cash Management, Merchant Services, Remote Deposit Capture, ACH Origination, and Positive Pay for business customers. Ancillary offerings include Zelle® P2P payments, Notifi real-time alerts, CardValet card controls, and educational resources through the Learning Center, as well as insurance and financial services referral programs.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking Accounts

Quantifiable outcome

• Transaction projected to deliver approximately 18% EPS accretion in 2027 with 20% internal rate of return

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

AI capability2 records

Feature3 records

Partnerships

One partnership is on record.

• Arrow Financial Corporation (NASDAQGS: AROW)coreStrategic or Co-development Partner · 26 February 2026Arrow Financial Corporation announced strategic acquisition of Adirondack Bancorp, Inc. Both companies' boards unanimously approved a merger agreement. Adirondack shareholders to receive 1.8610 shares of Arrow common stock plus $18.72 in cash per share. Combined entity would have pro-forma total assets of $5.4 billion, total deposits of $4.8 billion, and total gross loans of $4.1 billion. Expected to close end of Q2 2026 pending regulatory and shareholder approvals. OCC approval received June 2026.

Scale indicators5 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• NBT Bancorp: NBT Bancorp is a community bank holding company headquartered in Norwich, NY serving upstate New York, similar in size, product mix (deposits, commercial/mortgage lending), and regional focus to Adirondack Bank. Most directly comparable mid-sized upstate NY community bank.
• Arrow Financial Corporation: Arrow Financial is a Glens Falls, NY-based community bank holding company and the announced acquirer of Adirondack Bancorp. Operates a similar community banking model in upstate New York and serves as the most direct strategic peer, including the combining entity post-close.
• Community Bank System: Community Bank System (CBU) is a DeWitt, NY-based community bank holding company operating across upstate New York, Pennsylvania, Vermont, and Massachusetts. Closely comparable business model of community-based deposit gathering and commercial/consumer lending with similar full-service product portfolio.
• Trustco Bank: Trustco Bank Corp is a community-focused bank serving upstate New York, Florida, and Massachusetts with deposit products, mortgage lending, and consumer loans. Comparable as a regional, branch-based community bank with similar consumer/mortgage mix.
• Chemung Canal Trust Company: Chemung Canal Trust is a community bank headquartered in Elmira, NY serving the Southern Tier and Finger Lakes regions of upstate New York. Comparable as a mid-sized upstate NY community bank with similar deposit/lending franchise.
• Tompkins Financial: Tompkins Financial is an Ithaca, NY-based community bank holding company serving upstate New York and surrounding markets. Comparable in community banking model, regional footprint, and product mix (consumer, business, and mortgage lending).
• Ballston Spa National Bank: BSNB is a community bank headquartered in Ballston Spa, NY serving the Capital Region and surrounding upstate New York. Comparable as a small, community-focused regional bank with personal/business deposit and lending products.
• First National Bank of Scotia: First National Bank of Scotia is a small community bank headquartered in Scotia, NY serving the Capital Region and upstate New York. Comparable as a similarly-sized, branch-based community bank with personal/business deposit and lending focus.

Broad incumbents

• M&T Bank: M&T Bank is a large regional bank holding company with significant upstate New York presence, offering the full suite of personal, commercial, and wealth products. Relevant as a larger incumbent competitor with overlapping geographic coverage.
• KeyBank: KeyBank is a large regional bank with substantial branch presence across upstate New York including the Mohawk Valley and North Country. Acts as a broader incumbent competitor rather than a direct community banking peer.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCOInbAExz7rIvu3oRf7CSiA
• Facebookfacebook.com/112009655527909
• LinkedInlinkedin.com/company/adirondack-bank
• Instagraminstagram.com/adkbank

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Adirondack Bank