secwatch.observer — SEC 8-K summary
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Issuer:     ARROW FINANCIAL CORP (AROW)
CIK:        0000717538
Form:       8-K
Filed at:   2024-02-01T23:59:59+00:00
Accession:  0000717538-24-000023
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 5.03, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/717538/000071753824000023/0000717538-24-000023-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/717538/000071753824000023/arow-20240131.htm
  HTML page:      https://secwatch.observer/filing/0000717538-24-000023

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer