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 |
|---|---|---|---|
| 9/9/2024 | $28.00 → $31.00 | Market Perform | Hovde Group |
| 1/9/2024 | Market Perform | Hovde Group |
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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
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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
Arrow Financial (NASDAQ:AROW) reported quarterly earnings of $0.52 per share which missed the analyst consensus estimate of $0.54 by 3.7 percent. This is a 48.57 percent increase over earnings of $0.35 per share from the same period last year.
The Board of Directors (the "Board") of Arrow Financial Corporation (the "Company" or "Arrow") (NasdaqGS® - AROW) is pleased to announce that it has unanimously voted to appoint Tenée R. Casaccio as the new Chair of the Arrow Board of Directors, effective June 5, 2024. This appointment by the Board of Directors follows the retirement of the former Board Chair, William L. Owens, Esq., upon the mandatory retirement age of directors as stipulated in the Company's bylaws.
Arrow Financial (NASDAQ:AROW) reported quarterly earnings of $0.45 per share. This is a 10 percent decrease over earnings of $0.50 per share from the same period last year.
Arrow Financial Corporation (NASDAQ:AROW) has entered into a definitive agreement with Berkshire Bank, a subsidiary of Berkshire Hills Bancorp, Inc. (NYSE:BHLB). Under the deal, Arrow Financial’s bank subsidiary, Glens Falls National Bank, will acquire the branch office at 184 Broadway, Whitehall, New York. Berkshire Bank has entered into definitive agreements with three buyers to sell 10 of its upstate and eastern New York branches, consisting of eight offices in Albany, Saratoga, Schenectady and Columbia counties, one office in Whitehall and one office in East Syracuse. The sale lowers Berkshire Hills’ overall branch footprint from 96 to 86 locations. All employees associated
Following the anticipated completion of the sale, Glens Falls National Bank will operate a total of nine branches in Washington County. The Whitehall branch includes deposit accounts with an aggregate approximate balance of $39 million and loans with an aggregate approximate balance of $3 million.
Arrow Finl (NASDAQ:AROW) reported its Q4 earnings results on Thursday, February 1, 2024 at 07:50 AM. Here's what investors need to know about the announcement. Earnings Arrow Finl missed estimated earnings by 2.13%, reporting an EPS of $0.46 versus an estimate of $0.47. Revenue was down $4.65 million from the same period last year. Past Earnings Performance Last quarter the company beat on EPS by $0.13 which was followed by a 9.57% increase in the share price the next day. Here's a look at Arrow Finl's past performance: Quarter Q3 2023 Q2 2023 Q1 2023 Q4 2022 EPS Estimate 0.33 0.71 0.64 0.78 EPS Actual 0.46 0.35 0.50 0.71 Revenue Estimate 32.59M 37.75M 36.20M 39.09M Revenue Actu
Hovde Group analyst Nick Cucharale initiates coverage on Arrow Finl (NASDAQ:AROW) with a Market Perform rating.
- SEC Filing
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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
GLENS FALLS, N.Y., July 28, 2023 /PRNewswire/ -- The Board of Directors of Arrow Financial Corporation (NasdaqGS® - AROW) on July 26, 2023, declared a quarterly cash dividend of $0.27 per share payable September 15, 2023 to shareholders of record on September 1, 2023. This represents a 3% increase over the cash dividend paid in the third quarter of 2022, as a result of the 3% stock dividend distributed on September 23, 2022. This marks the 41st consecutive quarterly cash dividend. The dividend will be paid in all cash including to participants in the Company's Automatic Dividend Reinvestment Plan for which no dividends will be reinvested. Arrow Financial Corporation (NasdaqGS® - AROW) is a m
GLENS FALLS, N.Y., May 3, 2023 /PRNewswire/ -- The Board of Directors of Arrow Financial Corporation (NasdaqGS® - AROW) on May 3, 2023, declared a quarterly cash dividend of $0.27 per share payable June 15, 2023, to shareholders of record on June 2, 2023. This represents a 3.0% increase over the cash dividend paid in the second quarter of 2022, as a result of the 3% stock dividend distributed on September 23, 2022. The dividend will be paid in all cash including to participants in the Company's Automatic Dividend Reinvestment Plan for which no dividends will be reinvested. Arrow Financial Corporation (NasdaqGS® - AROW) is a multi-bank holding company headquartered in Glens Falls, New York, s
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
GLENS FALLS, N.Y., June 6, 2024 /PRNewswire/ -- The Board of Directors (the "Board") of Arrow Financial Corporation (the "Company" or "Arrow") (NasdaqGS® - AROW) is pleased to announce that it has unanimously voted to appoint Tenée R. Casaccio as the new Chair of the Arrow Board of Directors, effective June 5, 2024. This appointment by the Board of Directors follows the retirement of the former Board Chair, William L. Owens, Esq., upon the mandatory retirement age of directors as stipulated in the Company's bylaws. Casaccio has been a director of the Company since January 20
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