Upstate Agency Acquired by Glens Falls Bank

February 2, 2011

New York-based Glens Falls National Bank and Trust has acquired Upstate Agency Inc., a property and casualty insurance agency with eight offices in Upstate New York.

Terms of the transaction were not disclosed.

Upstate Agency, which is headquartered in Chestertown, will operate as a wholly owned subsidiary of Glens Falls National Bank.

Agency principal Mark J. Carpenter will continue to manage the agency which offers personal and commercial lines. The addition of Upstate Agency complements the bank’s other property and casualty insurance operation, Loomis & LaPann Inc., as well as its health insurance agency, Capital Financial Group, both of which are located in the Glens Falls Area.

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