Press Release
Approval of Application by The Adirondack Trust Company Employee Stock Ownership Trust, Saratoga Springs, New York
September 24, 2012

NEW YORK—The Federal Reserve Bank of New York approved the application by The Adirondack Trust Company Employee Stock Ownership Trust, Saratoga Springs, New York, to acquire fifty additional shares of 473 Broadway Holding Corporation and two thousand additional shares of The Adirondack Trust Company, both of Saratoga Springs, New York.

According to standard procedure, the proposal cannot be completed sooner than 15 days.

The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.