Glens Falls National Bank & Trust Company is one of two
subsidiary banks of the multi-bank
holding company
A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...
Arrow Financial Corporation (NASDAQ: AROW). The Bank was founded in 1851 in
Glens Falls
Glens Falls is a city in Warren County, New York, United States and is the central city of the Glens Falls Metropolitan Statistical Area. The population was 14,700 at the 2010 census. The name was given by Colonel Johannes Glen, the falls refe ...
.
The bank provides
commercial banking
A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit.
It can also refer to a bank, or a division of a large bank, which deals with co ...
,
investment, trust and
insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...
services to individuals, corporations, and government institutions in
Warren
A warren is a network of wild rodent or lagomorph, typically rabbit burrows. Domestic warrens are artificial, enclosed establishment of animal husbandry dedicated to the raising of rabbits for meat and fur. The term evolved from the medieval A ...
,
Washington
Washington commonly refers to:
* Washington (state), United States
* Washington, D.C., the capital of the United States
** A metonym for the federal government of the United States
** Washington metropolitan area, the metropolitan area centered o ...
,
Essex
Essex () is a county in the East of England. One of the home counties, it borders Suffolk and Cambridgeshire to the north, the North Sea to the east, Hertfordshire to the west, Kent across the estuary of the River Thames to the south, and Grea ...
, and
Clinton Counties.
History
Glens Falls Bank opened in 1851, making it the first bank in Warren County. In 1864, a fire destroyed the bank. It was rebuilt following the fire and re-opened as the Glens Falls National Bank in 1867.
[
On January 6, 1870, a group of thieves robbed the bank, using dynamite and wet blankets. Approximately $20,000 ($422,000 in 2021) was stolen.][
Glens Falls acquired the Fort Edward National Bank in 1950, making it the bank's second branch.][ In 1963, Glens Falls built another Washington County branch in Fort Edward.][ The Fort Edward office of Glens Falls National Bank was officially opened on July 21, 1971.][
In December 2021, Glens Falls National Bank closed its Fort Edward branch.]
References
Banks based in New York (state)
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