Arrow Financial Q2 EPS $0.66 vs $0.82 Q1; $1.6M specific reserve; Adirondack acquisition closed

ARROW FINANCIAL CORP

Net income $11.0M ($0.66 diluted EPS) vs $13.5M ($0.82) in Q1; adjusted EPS $0.71 excluding $1.0M merger expenses.
Recorded $1.6M specific reserve ($0.08 per share) for isolated commercial real estate credit due to bankruptcy; NPLs rose to $8.7M.
Closed acquisition of Adirondack Bancorp on July 1, adding ~$1.0B assets and 19 branches; expects EPS accretion in 2027.
Net interest margin (FTE) 3.43%, down from 3.48% Q1; loan growth $57.6M (6.7% annualized).
Declared quarterly dividend $0.30 per share, payable Aug 25 to holders of record Aug 11.

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