The two-bank holding company said Friday that the insurance agency is to operate as a subsidiary of its largest unit, Glens Falls National Bank and Trust Co.
The $1.9 billion-asset Arrow also owns the insurance agency Capital Frontier Group Inc. that sells group health and life insurance. Capital Frontier is to remain a separate agency.
The deal for Loomis & LaPann is expected to close April 1.
This story has been reprinted with permission from American Banker.
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