Mr. Hoy has served as Chief Executive Officer of Arrow since January 1, 1997. His career with Glens Falls National started in 1974 as a Management Trainee and he held various senior management positions within Glens Falls National and its Trust and Investment Division before being named President in 1995. During Mr. Hoy's tenure as CEO, the Company has grown from 17 banking offices and total assets of $653 million to 35 banking offices and total assets of over $2 billion, with net income in excess of $21 million annually.
The Company also announced today the appointment of Mark E. Bulmer, CPA, as Corporate Secretary of Arrow, effective July 1, 2012. In addition to his new appointment, Mr. Bulmer will continue to serve as Vice President and Corporate Secretary of Glens Falls National. Mr. Bulmer previously served as Assistant Corporate Secretary of Arrow.
Arrow Financial Corporation is a multi-bank holding company headquartered in Glens Falls, NY serving the financial needs of northeastern New York. The Company is the parent of Glens Falls National Bank and Trust Company and Saratoga National Bank and Trust Company. Other subsidiaries include North Country Investment Advisers, Inc., three property and casualty insurance agencies: Loomis & LaPann, Inc.; McPhillips Insurance Agency which is a division of Glens Falls National Insurance Agencies, LLC; Upstate Agency, LLC, and Capital Financial Group, Inc. an insurance agency specializing in the sale and servicing of group health plans.
These statements may be "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, involving a degree of uncertainty and attendant risk. In the case of all forward-looking statements, actual outcomes and results may differ materially from what the statements predict or forecast, explicitly or by implication. The Company undertakes no obligation to revise or update these forward-looking statements to reflect the occurrence of unanticipated events.