EX-21 3 ex21subs-2019.htm EXHIBIT 21
Exhibit 21
Arrow Financial Corporation
250 Glen Street
Glens Falls, NY 12801
Subsidiaries
December 31, 2019

Subsidiary | Percent of Common Stock Owned
Subsidiaries of Arrow Financial Corporation: |
Glens Falls National Bank and Trust Company A Nationally Chartered Commercial Bank Headquarters: Glens Falls, NY | 100
Saratoga National Bank and Trust Company A Nationally Chartered Commercial Bank Headquarters: Saratoga Springs, NY | 100
Arrow Capital Statutory Trust II A Non-deposit Trust Company Headquarters: Glens Falls, NY | 100
Arrow Capital Statutory Trust III A Non-deposit Trust Company Headquarters: Glens Falls, NY | 100
Subsidiaries of Glens Falls National Bank and Trust Company: |
Arrow Properties, Inc. A Real Estate Investment Trust (Glens Falls National Bank also holds approximately 82% of non-voting preferred stock) Headquarters: Glens Falls, NY | 100
North Country Investment Advisers, Inc. A New York Corporation Headquarters: Glens Falls, NY | 100
NC Financial Services, Inc. A New York Corporation Headquarters: Warrensburg, NY | 90
Glens Falls National Community Development Corporation A New York Corporation Headquarters: Glens Falls, NY | 100
Upstate Agency, LLC A New York Corporation Headquarters: Warrensburg, NY | 100
Subsidiaries of Saratoga National Bank and Trust Company: |
NC Financial Services, Inc. A New York Corporation Headquarters: Warrensburg, NY | 10