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.
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 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 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.
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 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.
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 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.
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 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 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 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 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