Arrow Financial's Business Segments

Arrow is a two-bank holding company headquartered in Glens Falls, New York. Our banking subsidiaries are Glens Falls National Bank and Trust Company (Glens Falls National) whose main office is located in Glens Falls, New York, and Saratoga National Bank and Trust Company (Saratoga National) whose main office is located in Saratoga Springs, New York. Active subsidiaries of Glens Falls National include Capital Financial Group, Inc. (an insurance agency specializing in selling and servicing group health care policies and life insurance), Upstate Agency, LLC (a property and casualty insurance agency), Glens Falls National Insurance Agencies, LLC (a property and casualty insurance agency - currently doing business under the name of McPhillips Insurance Agency), North Country Investment Advisers, Inc. (a registered investment adviser that provides investment advice to our proprietary mutual funds) and Arrow Properties, Inc. (a real estate investment trust, or REIT). Our holding company also owns directly two subsidiary business trusts, organized in 2003 and 2004 to issue trust preferred securities (TRUPs), which are still outstanding.

Arrow Financial Corporation is a diversified financial services company that operates through various segments, primarily focusing on banking and insurance. Here’s an extensive overview of its segments, products, and services:

1. Banking Segment

a. Retail Banking:
- Checking Accounts: Arrow offers a variety of checking account options, which may include standard checking, interest-bearing checking, and accounts designed specifically for students or seniors.
- Savings Accounts: This includes traditional savings accounts, high-yield savings accounts, and money market accounts, providing customers with options for safe investments and easy access to funds.
- Certificates of Deposit (CDs): These time deposit accounts allow customers to earn interest over a fixed term, typically offering higher interest rates than regular savings accounts.
- Loans and Credit Products:
- Personal Loans: Unsecured loans for personal expenses such as medical bills, vacations, or debt consolidation.
- Mortgages: A range of mortgage products, including fixed-rate mortgages, adjustable-rate mortgages (ARMs), and first-time homebuyer loans.
- Home Equity Loans and Lines of Credit: Options allowing homeowners to borrow against the equity in their homes.
- Auto Loans: Financing options for new and used vehicles.
- Credit Cards: A variety of credit card options, typically offering rewards programs, low-interest rates, and balance transfer features.

b. Commercial Banking:
- Business Checking Accounts: Tailored accounts for small and mid-sized businesses, offering tools for managing cash flow efficiently.
- Business Loans and Lines of Credit: Financing solutions for businesses, including term loans, revolving lines of credit, and SBA loans.
- Commercial Real Estate Loans: Loans designed for purchasing or refinancing commercial properties, including office buildings and retail locations.
- Treasury Management Services: Solutions tailored to businesses for managing cash flow and optimizing liquidity.

Insurance Segment

Arrow Financial Corporation also provides a comprehensive range of insurance products, catering to both individual and commercial clients.

a. Personal Insurance:
- Homeowners Insurance: Coverage options for homeowners, including property protection and liability coverage.
- Auto Insurance: Insurance policies for personal vehicles, offering liability, collision, and comprehensive coverage.
- Life Insurance: A variety of life insurance products including term life, whole life, and universal life policies designed to meet different financial planning needs.
- Health Insurance: Individual and family health insurance plans, possibly including short-term health options and supplemental health coverage.

b. Business Insurance:
- General Liability Insurance: Essential coverage for businesses to protect against claims of bodily injury or property damage.
- Property Insurance: Protecting physical business assets from risks like fire, theft, and natural disasters.
- Workers Compensation Insurance: Coverage that provides wage replacement and medical benefits to employees injured in the course of employment.
- Professional Liability Insurance: Protects businesses against claims of negligence or malpractice in the services they provide.

Investment Services

Arrow Financial Corporation may offer investment services through partnerships or affiliated entities, which could include:

- Wealth Management Services: Customized financial planning and investment management services for individuals, families, and businesses aiming to grow and preserve wealth.
- Retirement Planning: Services focused on helping clients prepare for retirement through various investment vehicles, including IRAs, 401(k) plans, and pension plans.
- Brokerage Services: Offering clients the ability to trade stocks, bonds, and other securities, possibly through an online platform.

Additional Services

Arrow Financial Corporation might offer various additional services to enhance the customer experience:

- Online and Mobile Banking: Digital platforms providing customers with access to their accounts, transaction capabilities, and financial management tools.
- Customer Support: Dedicated support services, including customer service representatives and resources like FAQs or educational material on financial products.
- Financial Education and Resources: Workshops, seminars, or online content designed to help customers understand financial products, budgeting, and investing principles.

In summary, Arrow Financial Corporation presents a comprehensive suite of banking, insurance, and investment services aimed at addressing the financial needs of individuals and businesses alike. Its diverse product offerings emphasize convenience, security, and customer support across all segments.