Arrow Financial Corporation, a bank holding company, provides commercial and consumer banking, and financial products and services. The company's deposit products include demand deposits, interest-bearing checking accounts, savings deposits, time deposits, and other time deposits. Its lending activities comprise commercial loans, such as term loans, time notes, and lines of credit; and commercial real estate loans to finance real estate purchases, refinancing, expansions, and improvements to commercial properties, as well as commercial construction and land development loans to finance projects. The company's lending activities also include consumer installment loans to finance personal expenditures, personal lines of credit, overdraft protection, and automobile loans; and residential real estate loans, fixed home equity loans, and home equity lines of credit for consumers to finance home improvements, debt consolidation, education, and other uses. In addition, it maintains an indirect lending program; and sells residential real estate loan originations into the secondary market. Further, the company provides retirement planning, trust, and estate administration services for individuals; and pension, profit-sharing, and employee benefit plan administration services for corporations. Additionally, it offers insurance agency services comprising group health care policies and life insurance, and property and casualty insurance products; and investment advisory services to its proprietary mutual funds, as well as holds a real estate investment trust. The company operates in the northeastern region of New York State in Warren, Washington, Saratoga, Essex, Clinton, Rensselaer, Albany, and Schenectady counties, as well as surrounding areas. It owns twenty-seven branch banking offices; and leases thirteen branch banking offices, as well as two residential loan origination offices. Arrow Financial Corporation was founded in 1851 and is headquartered in Glens Falls, New York.
IPO Year:
Exchange: NASDAQ
Website: arrowfinancial.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 12/27/2024 | $34.50 → $32.00 | Market Perform | Hovde Group |
| 12/20/2024 | $32.00 | Neutral | Piper Sandler |
| 9/9/2024 | $28.00 → $31.00 | Market Perform | Hovde Group |
| 1/9/2024 | Market Perform | Hovde Group |
10-Q - ARROW FINANCIAL CORP (0000717538) (Filer)
13F-HR - ARROW FINANCIAL CORP (0000717538) (Filer)
8-K - ARROW FINANCIAL CORP (0000717538) (Filer)
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8-K - ARROW FINANCIAL CORP (0000717538) (Filer)
8-K - ARROW FINANCIAL CORP (0000717538) (Filer)
8-K - ARROW FINANCIAL CORP (0000717538) (Filer)
10-K - ARROW FINANCIAL CORP (0000717538) (Filer)
13F-HR - ARROW FINANCIAL CORP (0000717538) (Filer)
SC 13G/A - ARROW FINANCIAL CORP (0000717538) (Subject)
SC 13G - ARROW FINANCIAL CORP (0000717538) (Subject)
Hovde Group reiterated coverage of Arrow Financial with a rating of Market Perform and set a new price target of $32.00 from $34.50 previously
Piper Sandler resumed coverage of Arrow Financial with a rating of Neutral and set a new price target of $32.00
Hovde Group resumed coverage of Arrow Financial with a rating of Market Perform and set a new price target of $31.00 from $28.00 previously
Hovde Group initiated coverage of Arrow Financial with a rating of Market Perform
GLENS FALLS, N.Y., Dec. 19, 2024 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS® - AROW) is pleased to announce the appointment of James M. Dawsey, Dr. Kristine D. Duffy, Philip Morris and Daniel J. White to the Arrow Financial Corporation Board of Directors, effective November 5, 2024. James M. Dawsey, President of MLB Construction Services, LLC, will bring financial and operational expertise to the Arrow board, drawing from more than 45 years of experience in construction management and operations oversight. He has extensive expertise in reviewing financial statements
GLENS FALLS, N.Y., July 31, 2023 /PRNewswire/ -- The Board of Directors (the "Board") of Arrow Financial Corporation (the "Company") (NasdaqGS® - AROW) on July 26, 2023, reset the number of directors from 11 to 10 and appointed our President and Chief Executive Officer David S. DeMarco to serve as a Class B member of the Board effective immediately. As an executive officer of the Company, Mr. DeMarco will not be joining any committee of the Board at the effective date of his appointment, nor will he receive any additional compensation for service as a director of the Company. Mr. DeMarco joined the Company in 1987 as a commercial lender and has served in positions of increasing responsibilit
GLENS FALLS, N.Y., July 24, 2023 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS® – AROW) announced financial results for the three-month period ended March 31, 2023. Net income for the first quarter of 2023 was $8.6 million and diluted earnings per share was $0.52. First-Quarter Highlights and Key Metrics Total assets were $4.1 billion.Total deposits were $3.5 billion.Total loans reached a record high of $3.0 billion as of March 31, 2023, an increase of $22.1 million from December 31, 2022.Loan-to-deposit ratio was 85%.Tangible book value per share was $20.55, an increase of $0.60, or 3.01% compared to December 31, 2022.On-balance sheet liquidity of $409 million, or 10%, of total asse
GLENS FALLS, N.Y., Feb. 6, 2023 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS® - AROW) is pleased to announce the appointment of Penko Ivanov, CPA, MBA, as Chief Financial Officer, Executive Vice President, Treasurer and Chief Accounting Officer of Arrow and its two subsidiary banks, Glens Falls National Bank and Trust Company and Saratoga National Bank and Trust Company, as well as its insurance subsidiary, Upstate Agency, LLC., effective February 21, 2023. As CFO, Mr. Ivanov will be responsible for planning and management of all finance, treasury and accounting functions for Arrow, which reported $3.97 billion in assets as of December 31, 2022. He will be based in the Company's Gle
GLENS FALLS, N.Y., May 1, 2025 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS® – AROW) ("Arrow" or "the Company") announced financial results for the three-month period ended March 31, 2025. Reported net income for the first quarter of 2025 was $6.3 million and fully diluted earnings per share ("EPS") was $0.38, versus $4.5 million and EPS of $0.27 for the fourth quarter of 2024. The Board of Directors of Arrow declared a quarterly cash dividend of $0.28 per share payable May 23, 2025 to shareholders of record as of May 13, 2025. The quarter was adversely impacted by th
GLENS FALLS, N.Y., Jan. 30, 2025 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS® – AROW) ("Arrow") reported net income of $4.5 million, and fully diluted earnings per share ("EPS") of $0.27 for the fourth quarter of 2024, versus $7.7 million and EPS of $0.46, for the same period in 2023. For the year ended 2024, net income totaled $29.7 million, with EPS of $1.77, versus $30.1 million, and EPS of $1.77, for the same period in 2023. The Board of Directors of Arrow declared a quarterly cash dividend of $0.28 per share payable February 24, 2025 to shareholders of record as
GLENS FALLS, N.Y., Jan. 2, 2025 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS® - AROW) today announced that its subsidiary, Glens Falls National Bank and Trust Company has unified with its affiliate bank, Saratoga National Bank and Trust Company, and the resulting bank has legally changed its name to Arrow Bank National Association, or Arrow Bank. This strategic unification simplifies the bank's brand identity, strengthens its market presence and better positions the bank for future growth while maintaining the same local, personalized service that's been its hallmark
GLENS FALLS, N.Y., Dec. 19, 2024 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS® - AROW) is pleased to announce the appointment of James M. Dawsey, Dr. Kristine D. Duffy, Philip Morris and Daniel J. White to the Arrow Financial Corporation Board of Directors, effective November 5, 2024. James M. Dawsey, President of MLB Construction Services, LLC, will bring financial and operational expertise to the Arrow board, drawing from more than 45 years of experience in construction management and operations oversight. He has extensive expertise in reviewing financial statements
GLENS FALLS, N.Y., Nov. 26, 2024 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS® – AROW) is proud to announce that its banking subsidiaries, Glens Falls National Bank and Trust Company and Saratoga National Bank and Trust Company, are now part of the Allpoint ATM Network, providing customers with convenient access to more than 50,000 ATMs across the United States and internationally. With this new partnership, customers no longer need to rely solely on bank branch ATMs to make simple withdrawals without incurring fees. Through the Allpoint Network, customers can now acc
GLENS FALLS, N.Y., Oct. 31, 2024 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS® – AROW) ("Arrow" or "the Company") announced financial results for the three-month period ended September 30, 2024. Net income for the third quarter of 2024 was $9.0 million and fully diluted earnings per share ("EPS") was $0.53, versus $7.7 million and EPS of $0.46 for the same period in 2023. This Earnings Release and related commentary should be read in conjunction with the Company's October 31, 2024 Form 8-K and related Third Quarter 2024 Investor Presentation, which can also be found o
GLENS FALLS, N.Y., Oct. 10, 2024 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS® – AROW) is pleased to announce it was recently named to the prestigious Piper Sandler Sm-All Stars: Class of 2024, a list of 30 top-performing small-cap banks and thrifts in the country. To earn Sm-All Star status, banks and thrifts needed to have a market cap below $2.5 billion and meet certain criteria related to growth, profitability, credit quality and capital strength. Against industry medians, banks needed to outperform in earnings per share growth, loan growth, deposit growth and ret
GLENS FALLS, N.Y., Oct. 3, 2024 /PRNewswire/ -- The Board of Directors of Arrow Financial Corporation (NasdaqGS® - AROW) on October 2, 2024, declared a quarterly cash dividend of $0.28 per share payable October 29, 2024 to shareholders of record on October 15, 2024. This represents a 3.7% increase to our quarterly dividend and is in lieu of the 3% stock dividend the Company has declared in recent years. This cash dividend marks the 46th consecutive quarterly cash dividend declared by Arrow. Arrow President and CEO David S. DeMarco: "We are pleased to deliver enhanced value to
GLENS FALLS, N.Y., Aug. 6, 2024 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS® - AROW), through its bank subsidiary Glens Falls National Bank and Trust Company, completed the acquisition of the Whitehall, New York branch office from Berkshire Bank, a subsidiary of Berkshire Hills Bancorp, Inc. (NYSE:BHLB). The previously announced acquisition of the branch at 184 Broadway in Whitehall, New York closed on August 2, 2024 and included deposit accounts with an aggregate approximate balance of $37.5 million and loans with an aggregate approximate balance of $3 million. Glen
GLENS FALLS, N.Y., July 25, 2024 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS® – AROW) ("Arrow" or "the Company") announced financial results for the three-month period ended June 30, 2024. Net income for the second quarter of 2024 was $8.6 million and fully diluted earnings per share ("EPS") was $0.52, versus $6.0 million and EPS of $0.35, for the same period in 2023. The Board of Directors of Arrow declared a quarterly cash dividend of $0.27 per share payable August 23, 2024 to shareholders of record as of August 12, 2024. This is Arrow's 45th consecutive quarterly
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GLENS FALLS, N.Y., May 1, 2025 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS® – AROW) ("Arrow" or "the Company") announced financial results for the three-month period ended March 31, 2025. Reported net income for the first quarter of 2025 was $6.3 million and fully diluted earnings per share ("EPS") was $0.38, versus $4.5 million and EPS of $0.27 for the fourth quarter of 2024. The Board of Directors of Arrow declared a quarterly cash dividend of $0.28 per share payable May 23, 2025 to shareholders of record as of May 13, 2025. The quarter was adversely impacted by th
GLENS FALLS, N.Y., Jan. 30, 2025 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS® – AROW) ("Arrow") reported net income of $4.5 million, and fully diluted earnings per share ("EPS") of $0.27 for the fourth quarter of 2024, versus $7.7 million and EPS of $0.46, for the same period in 2023. For the year ended 2024, net income totaled $29.7 million, with EPS of $1.77, versus $30.1 million, and EPS of $1.77, for the same period in 2023. The Board of Directors of Arrow declared a quarterly cash dividend of $0.28 per share payable February 24, 2025 to shareholders of record as
GLENS FALLS, N.Y., Oct. 31, 2024 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS® – AROW) ("Arrow" or "the Company") announced financial results for the three-month period ended September 30, 2024. Net income for the third quarter of 2024 was $9.0 million and fully diluted earnings per share ("EPS") was $0.53, versus $7.7 million and EPS of $0.46 for the same period in 2023. This Earnings Release and related commentary should be read in conjunction with the Company's October 31, 2024 Form 8-K and related Third Quarter 2024 Investor Presentation, which can also be found o
GLENS FALLS, N.Y., Oct. 3, 2024 /PRNewswire/ -- The Board of Directors of Arrow Financial Corporation (NasdaqGS® - AROW) on October 2, 2024, declared a quarterly cash dividend of $0.28 per share payable October 29, 2024 to shareholders of record on October 15, 2024. This represents a 3.7% increase to our quarterly dividend and is in lieu of the 3% stock dividend the Company has declared in recent years. This cash dividend marks the 46th consecutive quarterly cash dividend declared by Arrow. Arrow President and CEO David S. DeMarco: "We are pleased to deliver enhanced value to
GLENS FALLS, N.Y., Aug. 6, 2024 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS® - AROW), through its bank subsidiary Glens Falls National Bank and Trust Company, completed the acquisition of the Whitehall, New York branch office from Berkshire Bank, a subsidiary of Berkshire Hills Bancorp, Inc. (NYSE:BHLB). The previously announced acquisition of the branch at 184 Broadway in Whitehall, New York closed on August 2, 2024 and included deposit accounts with an aggregate approximate balance of $37.5 million and loans with an aggregate approximate balance of $3 million. Glen
GLENS FALLS, N.Y., July 25, 2024 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS® – AROW) ("Arrow" or "the Company") announced financial results for the three-month period ended June 30, 2024. Net income for the second quarter of 2024 was $8.6 million and fully diluted earnings per share ("EPS") was $0.52, versus $6.0 million and EPS of $0.35, for the same period in 2023. The Board of Directors of Arrow declared a quarterly cash dividend of $0.27 per share payable August 23, 2024 to shareholders of record as of August 12, 2024. This is Arrow's 45th consecutive quarterly
GLENS FALLS, N.Y., March 4, 2024 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS® - AROW) today announced that its bank subsidiary, Glens Falls National Bank and Trust Company, has entered into a definitive agreement with Berkshire Bank, a subsidiary of Berkshire Hills Bancorp, Inc. (NYSE:BHLB), under which Glens Falls National Bank will acquire the branch office at 184 Broadway, Whitehall, New York. The sale is targeted for completion by the end of the third quarter of 2024, subject to customary regulatory approvals. Following the anticipated completion of the sale, Gle
GLENS FALLS, N.Y., Feb 1, 2024 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS® – AROW) ("Arrow") reported net income of $7.7 million, and fully diluted earnings per share ("EPS") of $0.46 per share for the fourth quarter of 2023, versus $12.1 million and EPS of $0.71, for the same period in 2022. For the year ended 2023, net income totaled $30.1 million, with EPS of $1.77, versus $48.8 million, and EPS of $2.86, for the same period in 2022. The Board of Directors of Arrow declared a quarterly cash dividend of $0.27 per share payable February 23, 2024 to shareholders of
GLENS FALLS, N.Y. , Aug. 31, 2023 /PRNewswire/ -- The Board of Directors of Arrow Financial Corporation (NasdaqGS® - AROW) on August 30, 2023, declared a 3% stock dividend, which will be distributed on September 26, 2023. Shareholders of record on September 20, 2023, will receive three additional shares of Arrow Common Stock for every 100 shares owned. Certificate shareholders will receive the cash equivalent of any fractional shares to which they are entitled. Arrow Financial Corporation (NasdaqGS® - AROW) is a multi-bank holding company headquartered in Glens Falls, New York, serving the financial needs of northeastern New York. The Company is the parent of Glens Falls National Bank and Tr
GLENS FALLS, N.Y., Aug. 8, 2023 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS® – AROW) ("Arrow") announced financial results for the three-month period ended June 30, 2023. Net income for the second quarter of 2023 was $6.0 million and fully diluted earnings per share was $0.36. Nonperforming assets decreased $4.2 million in the second quarter, with the allowance for credit losses reaching 477% of nonperforming loans. Arrow President and CEO David S. DeMarco: "I am pleased to announce that we are back in full compliance with our NASDAQ® filing requirements. While this is an important step, it did not distract us from growing the business to a new record high for loans while maintai