Highest-materiality recent filing
Arrow Financial completes acquisition of Adirondack Bancorp; combined assets $5.4B
Each Adirondack share converted into 1.8610 Arrow shares plus $18.72 cash; tax-free reorganization under Section 368(a).
Adirondack stockholders voted to approve the merger on June 9, 2026.
Four Class A directors elected: Mark L. Behan (9.48M for), Gregory J. Champion (8.42M), Darrin M. Jahnel (9.73M), Daniel J. White (8.79M); broker non-votes ~2.93M.
Arrow Financial provides annual meeting presentation with no specific financial details
Presentation made available at June 3, 2026 annual meeting; no earnings or guidance disclosed.
Arrow Financial receives OCC approval for Adirondack Bancorp merger; close expected July 1, 2026
OCC approved the merger of Arrow and Adirondack Bancorp; closing on or around July 1, 2026.
Arrow Financial Q1 adjusted EPS $0.85, NIM expands to 3.47%, declares $0.30 dividend
Net income $13.5M ($0.82 EPS); adjusted EPS $0.85 excluding $790K merger costs.
Arrow Financial to acquire Adirondack Bancorp; consideration 1.8610 shares + $18.72 cash per share
Merger consideration: 1.8610 Arrow shares plus $18.72 cash per Adirondack share; intended as tax-free reorganization.
Arrow Q4 net income $14.0M ($0.85 EPS) vs $4.5M ($0.27) a year ago; dividend raised 3.4%
Net income $14.0M ($0.85 EPS) in Q4 2025 vs $4.5M ($0.27) in Q4 2024; full year $44.0M ($2.65 eps) vs $29.7M ($1.77).
Arrow Financial appoints Darrin Jahnel as director effective Nov 25, 2025
Darrin Jahnel is founder/CEO of Jahnel Group, a 150-person software consulting firm in Schenectady, NY.
Court preliminarily approved settlement on Oct 22, 2025; final hearing set for Jan 12, 2026.
Arrow Q3 net income $12.8M ($0.77 EPS), record NII $34.1M, dividend $0.29
Net income of $12.8M, EPS $0.77, up from $10.8M ($0.65) in Q2; ROA improved to 1.16%.
Arrow Q2 net income $10.8M ($0.65 EPS), dividend raised to $0.29, $5M buyback authorized
Net income of $10.8M, EPS $0.65 vs. Q1 $6.3M ($0.38); record net interest income $32.5M.
Arrow Financial signs six-month consulting deal with former CCO Kaiser at $2,500/month
Former SEVP & CCO David D. Kaiser retired June 30, 2025; entered six-month consulting agreement effective July 1, 2025.
Arrow Financial holds virtual investor meetings; no specific financial data disclosed in filing
Arrow Financial participated in virtual investor meetings on June 17-18, 2025, with a Mid-2Q Update presentation.
Arrow Financial holds annual meeting; no specific financial updates disclosed in filing
Company made annual meeting presentation available to shareholders on June 4, 2025.
Elected four Class C directors (Casaccio, Dawsey, Morris, Read) for 3-year terms, plus Class A White and Class B Duffy.
Arrow Financial Q1 net income $6.3M ($0.38 EPS); NIM expands to 3.07% on record NII
Net income of $6.3M vs $4.5M in Q4 2024; includes $3.75M specific reserve on a $15M CRE loan.
Arrow Financial records $3.75M reserve on $15M CRE loan in foreclosure
Recorded $3.75M specific reserve on a $15M commercial real estate loan secured by two Upstate NY office parks.
Arrow Financial Chief Credit Officer David D. Kaiser to retire June 30, 2025
David D. Kaiser, Chief Credit Officer, will retire effective June 30, 2025, relinquishing all positions at Arrow and subsidiaries.
Arrow Financial presents mid-Q1 2025 update; no specific figures in filing
Participated in Investor Day in Chicago on March 20, 2025, with a mid-quarter Q1 2025 update.
Arrow Financial CEO gets new 3-year agreement; director Dake to retire after 23 years
Director Gary L. Dake to retire at 2025 Annual Meeting after 23 years on the board.
Q4 2024 net income $4.5M ($0.27 diluted EPS) vs $7.7M ($0.46) in Q4 2023; full-year net income $29.7M ($1.77) vs $30.1M ($1.77).
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.
Arrow Financial reports Q3 EPS $0.53, up from $0.46 YoY; NIM widens to 2.78%
Net income $9.0M, diluted EPS $0.53 vs $0.46 in Q3 2023; net interest margin improved to 2.78% (2.79% FTE).
Arrow Financial raises quarterly dividend 3.7% to $0.28 per share; switches from stock dividend
Quarterly cash dividend of $0.28/share declared, payable Oct 29, 2024 to holders of record Oct 15, 2024.
Arrow Q2 net income $8.6M ($0.52 EPS), up from $6.0M YoY; NIM improves to 2.67%
Net income $8.6M, EPS $0.52 vs $6.0M/$0.35 in Q2 2023.
Arrow Financial receives OCC approval to merge two bank subsidiaries into Arrow Bank NA
OCC approved the combination of Glens Falls National Bank and Saratoga National Bank into Arrow Bank National Association.
Tenée R. Casaccio Appointed Chair of Arrow Financial Board
Tenée R. Casaccio named Chair of Arrow Board, effective June 5, 2024, succeeding William L. Owens (retired).
Arrow Financial holds annual meeting; presentation contains no material new disclosures
Annual meeting held June 5, 2024; presentation slides provided as Exhibit 99.1.
Arrow Financial Q1 net income $7.7M ($0.45 EPS); loans up 6.1% annualized; margin improves
Net income $7.7M vs $8.6M in Q1 2023; diluted EPS $0.45 vs $0.50.
Arrow Financial dismisses KPMG, appoints Crowe LLP as new auditor for FY2024
Audit Committee dismissed KPMG effective March 14, 2024 after a competitive selection process.
Arrow Financial Corp. issues 2023 annual review; no new financial data
Annual review includes community engagement highlights and select financial information.
Arrow Financial acquires Berkshire Bank's Whitehall, NY branch with $39M deposits
Deal includes $39M in deposits, $3M in loans, and the branch premises.
Arrow Financial sets 2024 annual meeting for June 5; record date April 8
Shareholder proposals under Rule 14a-8 must be received by March 15, 2024.
CEO David DeMarco's new 3-year agreement (eff. Feb 1) sets base salary at $695,000, +$120K from prior.
Arrow Q4 net income $7.7M ($0.46 EPS) down 36% YoY; full-year EPS $1.77 vs $2.86
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.
Arrow Financial sells Visa shares for $9.3M gain, repositions $100M securities portfolio
Sold 27,771 Visa Class B shares for pre-tax gain of approximately $9.3 million.
Elected Class A directors Behan, Champion, Miller, Owens and Class B director DeMarco to board terms.
Arrow Financial declares $0.27 dividend, expands buyback by $5M, resumes DRIP
Quarterly cash dividend of $0.27 per share, payable Dec 15, 2023 to holders of record Dec 1, 2023.
Arrow Financial provides annual meeting presentation; no material new information
Annual meeting held October 25, 2023; presentation furnished as Exhibit 99.1.
Arrow Q3 net income $7.7M ($0.46 EPS); loans hit record $3.1B, 9% annualized growth
Net income $7.7M, EPS $0.46; net interest margin 2.53%, down from 2.61% Q2 2023.
Arrow Financial declares 3% stock dividend payable Sept 26
3% stock dividend declared on Aug 30, 2023; distribute Sept 26 to holders of record Sept 20.
Arrow Financial reports Q2 net income $6.0M, EPS $0.36; loans hit record $3.1B
Net income $6.0M vs $8.6M Q1 2023 and $12.0M Q2 2022; diluted EPS $0.36.
Arrow Financial appoints CEO David DeMarco to board; annual meeting set for Oct 25
Board reduced from 11 to 10 directors and appointed CEO David S. DeMarco as Class B director effective July 26, 2023.
Arrow Financial declares $0.27 quarterly dividend, all cash; no DRIP reinvestment
Quarterly dividend of $0.27 per share declared, payable Sep 15, 2023 to holders of record Sep 1, 2023.
Arrow Financial makes Q1 2023 investor presentation available, referencing prior disclosures
Presentation reviews Q1 2023 financial results and trends through March 31, 2023.
Arrow Q1 net income $8.6M, down 32% YoY; deposits up $48M QoQ
Net income $8.6M ($0.52 diluted EPS) vs $12.6M in Q1 2022; revenue $34.8M.
Arrow Financial raises CEO DeMarco's salary to $575k, CFO Ivanov to $390k in amended employment
CEO David DeMarco amended employment: base salary $575,000, target cash bonus 50%, term through Jan 31, 2026.
Arrow Financial submits Nasdaq remediation plan for late 2022 10-K filing
Submitted plan to Nasdaq on June 1, 2023 to regain compliance with Listing Rule 5250(c)(1).
Arrow Financial CEO Murphy departs; Nasdaq delisting risk from late filings; DeMarco named CEO
CEO Thomas Murphy terminated employment and resigned as director effective May 12, 2023.
the Board of Directors (the “Board”) of the Company appointed Rocco F. Arcuri, Sr. as a director of the Company effective July 1, 2026.
Effective June 30, 2025, David D. Kaiser, our Chief Credit Officer, will be retiring and relinquishing all positions he holds with Arrow Financial Corporation (“Arrow”) and its subsidiaries.
On January 29, 2025, Gary L. Dake notified the Board of Directors of Arrow Financial Corporation (the "Company") that he will retire from the Board after serving out the rest of his term which ends at the 2025 Annual Meeting.
William L. Owens retired from the Company's Board of Directors (the "Board") as a result of having reached the mandatory retirement age for directors as stipulated in the Company’s bylaws.
Tenée R. Casaccio was appointed as the Chair of the Board.
appointed our President and Chief Executive Officer, David S. DeMarco, to serve as a Class B member of the Board effective immediately.
The Company has appointed Penko K. Ivanov as Senior Executive Vice President of the Company and the Bank.
Thomas J. Murphy, the President and Chief Executive Officer and a member of the Board of Directors of Arrow Financial Corporation (the “Company”) and President and Chief Executive Officer of Glens Falls National Bank and Trust Company (“GFNB”), terminated his employment as President and CEO and as a director of the Company and from all other positions he holds with the Company and its affiliates, effective May 12, 2023.
Effective on May 13, 2023, the Company appointed Chief Banking Officer and Senior Executive Vice President David S. DeMarco, 61, to serve as President and Chief Executive Officer of the Company and President and Chief Executive Officer of GFNB.
As a result, following Mr. Ivanov’s start date, Thomas J. Murphy, the Company’s President and Chief Executive Officer, will no longer serve as the Company’s interim Treasurer, Chief Financial Officer and Chief Accounting Officer.
On February 1, 2023, the board of directors of Arrow Financial Corporation (the “Company”) appointed Penko Ivanov, CPA, MBA, as Chief Financial Officer, Executive Vice President, Treasurer and Chief Accounting Officer of Arrow and its two subsidiary banks, Glens Falls National Bank and Trust Company and Saratoga National Bank and Trust Company, as well as its insurance subsidiary, Upstate Agency, LLC., effective February 21, 2023.
Edward J. Campanella, former Senior Executive Vice President, Treasurer and Chief Financial Officer of the Company, resigned from all positions he holds with the Company and its subsidiaries effective September 30, 2022.
Max materiality 0.80 · Median 0.55 · Most common event earnings