Arrow Q4 net income $7.7M ($0.46 EPS) down 36% YoY; full-year EPS $1.77 vs $2.86

ARROW FINANCIAL CORP

2023-FY EPS reported $1.77

Net income $7.7M, EPS $0.46 vs $0.71 in Q4 2022; full-year net income $30.1M, EPS $1.77 vs $2.86.
Net interest margin 2.53% for Q4 vs 3.08% YoY; full-year NIM 2.65% vs 3.03%.
Loans reached record $3.2B, up 7.5% YoY; nonperforming assets increased to $21.5M (0.51% of assets) due to one $15M relationship.
Sold Visa Class B shares for $9.3M gain; recognized $9.2M loss on investment portfolio repositioning for $3M annual interest income improvement.
Declared $0.27/share dividend payable Feb 23, record Feb 12; 43rd consecutive quarterly dividend.

item 2.02 item 5.03 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ARROW FINANCIAL CORP reported year ended 2023 results: net income 30.1 million, EPS 1.77.

Period: year ended 2023
Net income: 30.1 million
EPS: 1.77
Result: reported results

Exact text from the filing

Arrow Reports 4th Quarter Net Income of $7.7 Million or $0.46 per Share and $30.1 Million or $1.77 per Share for 2023.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ARROW FINANCIAL CORP reported fourth quarter of 2023 results: net income 7.7 million, EPS 0.46.

Period: fourth quarter of 2023
Net income: 7.7 million
EPS: 0.46
Result: reported results

Exact text from the filing

Arrow Reports 4th Quarter Net Income of $7.7 Million or $0.46 per Share and $30.1 Million or $1.77 per Share for 2023.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ARROW FINANCIAL CORP reported year ended 2022 results: net income 48.8 million, EPS 2.86.

Period: year ended 2022
Net income: 48.8 million
EPS: 2.86
Result: reported results

Exact text from the filing

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.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ARROW FINANCIAL CORP reported fourth quarter of 2022 results: net income 12.1 million, EPS 0.71.

Period: fourth quarter of 2022
Net income: 12.1 million
EPS: 0.71
Result: reported results

Exact text from the filing

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.

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

ARROW FINANCIAL CORP filing history →

Source: SEC EDGAR

accession 0000717538-24-000023

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