Arrow completes $75M portfolio repositioning; expects $2.7M NII boost; reports $1.2M unification charges

ARROW FINANCIAL CORP

Sold $75M low-yield AFS securities (0.6% avg yield, 1.3 yr life) for $3M pre-tax loss; reinvested at 4.4% yield, 4.5 yr life.
Transaction expected to improve net interest income by ~$2.7M in 2025, earn-back period ~1.1 years, no impact on capital ratios or tangible book.
Q4 2024 will include ~$0.5M professional/legal expenses and $0.7M charge-off for branding/signage from bank unification.
Legal unification of two subsidiary banks into Arrow Bank N.A. completes Dec 31, 2024, simplifying brand identity.

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