EX-21 2 ex21subs-2016.htm EXHIBIT 21 Exhibit


Exhibit 21

Arrow Financial Corporation
250 Glen Street
Glens Falls, NY 12801
Subsidiaries
December 31, 2016

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
Capital Financial Group, Inc.
  A New York Corporation
  Headquarters: South Glens Falls, NY
100
Upstate Agency, LLC
  A New York Corporation
  Headquarters: Warrensburg, NY
100
Glens Falls National Insurance Agencies, LLC
  A New York Corporation
  Headquarters: South Glens Falls, NY
100
Subsidiaries of Saratoga National Bank and Trust Company:
 
NC Financial Services, Inc.
  A New York Corporation
  Headquarters: Warrensburg, NY
10