---
schema_version: "secwatch.filing_event.v1"
accession: "0000717538-23-000138"
form_type: "8-K"
ticker: "AROW"
cik: "0000717538"
company_name: "ARROW FINANCIAL CORP"
filed_at: "2023-07-24T23:59:59+00:00"
generated_at: "2026-06-13T04:35:26.667603+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Arrow Q1 net income $8.6M, down 32% YoY; deposits up $48M QoQ

## Summary
- Net income $8.6M ($0.52 diluted EPS) vs $12.6M in Q1 2022; revenue $34.8M.
- Net interest margin 2.96% (up from 2.90% YoY, down from 3.08% in Q4 2022).
- Total loans hit record $3.0B (+$22.1M from Dec); deposits grew $48M QoQ to $3.5B.
- Nonperforming assets fell to $11.3M (0.27% of assets); net charge-offs 0.10%.
- David S. DeMarco appointed President and CEO effective May 13, 2023; $0.27 quarterly dividend.

## SEC filing metadata
- accession: 0000717538-23-000138
- form_type: 8-K
- ticker: AROW
- cik: 0000717538
- company_name: ARROW FINANCIAL CORP
- filed_at: 2023-07-24T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/717538/000071753823000138/0000717538-23-000138-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/717538/000071753823000138/arow-20230724.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000717538-23-000138
- JSON: https://secwatch.observer/filing/0000717538-23-000138.json
- Plain text: https://secwatch.observer/filing/0000717538-23-000138.txt

## Key facts
- Earnings Releases
  ARROW FINANCIAL CORP reported the three-month period ended March 31, 2023 results: revenue $34.8 million, net income $8.6 million, EPS $0.52.
  - Period: the three-month period ended March 31, 2023
  - Revenue: $34.8 million
  - Net income: $8.6 million
  - EPS: $0.52
  - Result: reported results
  source text: represented 0.27% of period-end assets. • Net charge-offs to average loans for the first quarter of 2023 were 0.10% as compared to 0.09% for the previous quarter. • Revenue was $34.8 million. • Net income was $8.6 million. • Non-interest expenses of $22.3 million included $1.0 million in incremental expenses related to the delayed filing of the Annual Report on Form
  evidence_url: https://www.sec.gov/Archives/edgar/data/717538/000071753823000138/0000717538-23-000138-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.