GLENS FALLS NATIONAL BANK NEWS

• February 6, 2012 - Glens Falls National Bank and Trust Company Announces Appointment of Jenine P. Macura

• December 9, 2011 - Glens Falls National Bank and Trust Company Earns Highest 5-Star Rating

• December 5, 2011 - Glens Falls National Bank and Trust Company Announces Appointment of Marilyn R. Hensel

• November 30, 2011 - Thomas L. Hoy Elected to Board of Directors of The Federal Home Loan Bank of New York

• November 9, 2011 - Glens Falls National Bank and Trust Company Receives Bauer 5 Star Superior Rating

• November 9, 2011 - 2011 Holiday Parade-Armed Forces Announced As Grand Marshals

• November 4, 2011 - Glens Falls National Bank and Trust Company Announces Appointments of Kevin R. Porpora and Ian T. Williams

• November 4, 2011 - Glens Falls National Bank and Trust Company Makes a Substantial Contribution to the Salem Food Pantry

• November 1, 2011 - Glens Falls National Bank & Trust Company Announces Appointment of Gregory A. Moore

• October 28, 2011- Glens Falls National Bank & Trust Company Announces Appointment of Nathan J. Schecter

• October 21, 2011- David S. DeMarco Elected to the American Bankers Insurance Association's Board of Directors

• August 30, 2011- Glens Falls National Bank & Trust Company Announces Beneficiaries and Theme for 2011 Holiday Parade

• August 16, 2011- Glens Falls National Bank & Trust Company Announces Appointment of Mark E. Bulmer

• July 27, 2011- Glens Falls National Bank & Trust Company Announces Appointment of Kerry P. Taylor

• July 19, 2011- Arrow Financial Corporation to Acquire McPhillips Insurance

• July 12, 2011- Glens Falls National Bank & Trust Company Announces Promotion of Lisa T. Walbridge

• July 12, 2011- Glens Falls National Bank & Trust Company Announces Promotions of Harrison P. Sangter and Craig M. Seybolt

• June 30, 2011- Promotion of Thomas J. Murphy to Glens Falls National Bank President

• June 8, 2011- Glens Falls National Bank South Street Office Building

• January 21, 2011- Glens Falls National Bank & Trust Announces Appointment of Kimberly Romano

• January 21, 2011- Glens Falls National Bank & Trust Announces Appointment of Lawrence Hyde and Thomas Warner

• January 21, 2011- Glens Falls National Bank & Trust Announces Appointment of Peter Capozzola

• January 11, 2011- Glens Falls National Bank & Trust Company Announces Appointment of Dawn Banker and Promotion of Kimberly Davis

• January 7, 2011- Glens Falls National Bank & Trust Company Announces Appointment of Martin West

• January 6, 2011 - Glens Falls National Bank & Trust Company Announces Promotion of Wendy English

• January 6, 2011- Glens Falls National Bank & Trust Company Announces Appointment of Wendy Lanzone

INSURANCE AND INVESTMENT PRODUCTS:

NOT A DEPOSIT
NOT FDIC-INSURED

NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

NOT GUARANTEED BY THE BANK

MAY GO DOWN IN VALUE

Insurance products are offered through Capital Financial Group, Inc. (South Glens Falls, N.Y.) Capital Financial Group, Inc. is a non-bank subsidiary of Glens Falls National Bank and Trust Company and is licensed to sell insurance in New York State and act as an agent for issuing insurers. Insurance policies are obligations of the insurers that issue the policies.