Arrow Named to Piper Sandler Sm-All Stars: Class of 2024

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Arrow Financial (NasdaqGS® – AROW) has been named to the Piper Sandler Sm-All Stars: Class of 2024, a prestigious list of 30 top-performing small-cap banks and thrifts in the country. To qualify, institutions needed a market cap below $2.5 billion and had to outperform industry medians in earnings per share growth, loan growth, deposit growth, and return on average equity, while meeting specific benchmarks for nonperforming assets, net charge-offs, and tangible common equity ratio.

Arrow is one of only three New York financial institutions on the list and the sole bank from Upstate New York. Piper Sandler, an independent investment bank and research firm, evaluated over 300 institutions trading on major exchanges to select the top 30. President and CEO Dave DeMarco expressed pride in the recognition, attributing it to the team's hard work and dedication.

Positive

• Named to prestigious Piper Sandler Sm-All Stars: Class of 2024
• Outperformed industry medians in key growth and profitability metrics
• One of only three New York financial institutions on the list
• The only bank from Upstate New York to receive the recognition

Negative

• None.

GLENS FALLS, N.Y., Oct. 10, 2024 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS® – AROW) is pleased to announce it was recently named to the prestigious Piper Sandler Sm-All Stars: Class of 2024, a list of 30 top-performing small-cap banks and thrifts in the country.

To earn Sm-All Star status, banks and thrifts needed to have a market cap below $2.5 billion and meet certain criteria related to growth, profitability, credit quality and capital strength. Against industry medians, banks needed to outperform in earnings per share growth, loan growth, deposit growth and return on average equity, in addition to meeting nonperforming asset, net charge-off and tangible common equity ratio benchmarks.

Arrow is one of just three New York financial institutions on the list and the only bank in Upstate New York. Piper Sandler, an independent investment bank and research firm, evaluated more than 300 institutions that trade on a major exchange, narrowing the field to the top 30. 

"We're incredibly honored to be named to the Piper Sandler Sm-All Stars: Class of 2024," said President and CEO Dave DeMarco. "This recognition is a testament to the hard work, dedication and talent of our entire team. We look forward to building on this success and continuing to deliver value to our shareholders, customers and communities."

About Arrow Financial Corporation:
Arrow Financial Corporation is a multi-bank holding company headquartered in Glens Falls, New York, serving the financial needs of northeastern New York. The Company is the parent of Glens Falls National Bank and Trust Company and Saratoga National Bank and Trust Company. Other subsidiaries include North Country Investment Advisers, Inc. and Upstate Agency, LLC. 

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SOURCE Arrow Financial Corporation

FAQ

What is Arrow Financial 's stock symbol?

Arrow Financial 's stock symbol is AROW, traded on the Nasdaq Global Select Market.

What recognition did Arrow Financial receive in 2024?

Arrow Financial was named to the Piper Sandler Sm-All Stars: Class of 2024, a list of 30 top-performing small-cap banks and thrifts in the country.

What criteria did AROW meet to be included in the Piper Sandler Sm-All Stars?

AROW outperformed industry medians in earnings per share growth, loan growth, deposit growth, and return on average equity, while meeting benchmarks for nonperforming assets, net charge-offs, and tangible common equity ratio.

How many institutions did Piper Sandler evaluate for the Sm-All Stars list?

Piper Sandler evaluated more than 300 institutions trading on major exchanges before selecting the top 30 for the Sm-All Stars list.