---
schema_version: "secwatch.filing_event.v1"
accession: "0000717538-24-000023"
form_type: "8-K"
ticker: "AROW"
cik: "0000717538"
company_name: "ARROW FINANCIAL CORP"
filed_at: "2024-02-01T23:59:59+00:00"
generated_at: "2026-06-06T12:08:04.961951+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000717538-24-000023
- form_type: 8-K
- ticker: AROW
- cik: 0000717538
- company_name: ARROW FINANCIAL CORP
- filed_at: 2024-02-01T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 5.03, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/717538/000071753824000023/0000717538-24-000023-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/717538/000071753824000023/arow-20240131.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000717538-24-000023
- JSON: https://secwatch.observer/filing/0000717538-24-000023.json
- Plain text: https://secwatch.observer/filing/0000717538-24-000023.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/717538/000071753824000023/0000717538-24-000023-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/717538/000071753824000023/0000717538-24-000023-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/717538/000071753824000023/0000717538-24-000023-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/717538/000071753824000023/0000717538-24-000023-index.htm

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