The Adirondack Trust Company (OTCPK:ADKT) is a $1.1 billion community bank with thirteen branches serving the region surrounding Saratoga Springs, New York. The company is unique for a few reasons, not the least of which is the bank’s limited count of only 76,837 outstanding shares, resulting in a book value per share of approximately $1,585 and a current share price of approximately $1,675.
Indeed, perhaps the bank’s most unusual attributes for a community bank are the exceptionally short duration to maturity and/or repricing within its interest earning asset portfolios and the sizable proportion