About Your Bank > History
About Your Bank
Adirondack Bank was founded October 31, 1898, serving the needs of Northern New York State as the Saranac Lake Co-Operative Savings and Loan Association. The ideals of integrity, service and community involvement established over a century ago remain as the foundation of the bank’s operation today.
Through our history, the bank has evolved in order to meet the growing demands of our diverse customers. In 1936, the name was changed to Saranac Lake Federal Savings and Loan Association, and we continued for several decades with offices in Saranac Lake and Lake Placid. In 1990, the bank was recapitalized as a stock corporation with ownership closely held by one individual. The change in ownership also saw a change in the bank’s operation as a newly chartered Federal Savings Bank. Later in 1995, we were re-chartered as a National Bank and became Adirondack Bank, N.A.
The 1990’s was a growth period for Adirondack Bank, and new locations were opened in Old Forge, Plattsburgh, Whitesboro, Boonville and two offices in Utica. In 2002 and 2003 we expanded our presence in Herkimer County with the addition of an office in Mohawk and Herkimer. In October, 2003 a new office was opened in Rome at 1709 Black River Boulevard, further enabling Adirondack Bank to better serve the Mohawk Valley.
In addition, in an effort to position Adirondack Bank for the future, the bank converted to a state charter in December of 2003. This re-chartering was a strategic move designed to allow us to better serve our customers and the interests of the communities we serve.
2004 saw continued growth as we added additional branch banking facilities in Herkimer County in the City of Little Falls and Ilion. In early 2005 we expanded our branch network westward opening our first branch in Syracuse at 120 E. Washington Street. Our Holland Patent office was opened in February of 2006 and our designation as a Banking Development District was approved in April of 2006. Our most recent addition is our Sylvan Beach branch location which opened for business in May of 2013 bringing our total number of branches up to 18.
Our success has been achieved through our team of over 170 dedicated employees – people who live and work in the local communities they serve. Adirondack Bank serves Upstate New York from the historic Mohawk Valley to the Canadian border.
As of year end 2012, the Bank's asset size grew to $585 million with total deposits of $488 million.
Through the years, Adirondack Bank has maintained a commitment to customer service and community involvement. The bank and our employees are actively involved in local civic activities and charitable efforts – from managing little league teams to supporting the arts, helping to improve the quality of life in the communities we serve. We recognize our role beyond that of a provider of products and services and see ourselves as a true resource to the people and the communities we serve. We value the relationships we have with our customers and the opportunity to further earn their business.