Welcome to our dedicated page for Arrow Financial news (Ticker: AROW), a resource for investors and traders seeking the latest updates and insights on Arrow Financial stock.
Arrow Financial Corporation (NasdaqGS: AROW) is a multi-bank holding company headquartered in Glens Falls, New York. Serving the financial needs of northeastern New York, Arrow Financial Corporation operates through several subsidiaries, including Glens Falls National Bank and Trust Company and Saratoga National Bank and Trust Company. The company provides a comprehensive range of commercial and consumer banking products and services.
Arrow Financial Corporation's product portfolio includes demand deposits, interest-bearing checking accounts, savings deposits, time deposits, and other timed deposit products. Its lending services cover a broad spectrum, ranging from commercial loans, real estate loans, and consumer installment loans to personal lines of credit, overdraft protection, and automobile loans. Additionally, the company offers residential real estate loans and home equity lines of credit, making it a versatile player in the banking sector.
In recent achievements, Arrow Financial Corporation filed its Annual Report on Form 10-K for the year ended December 31, 2022. The company showcased its resilience with a net income of $8.6 million for the first quarter of 2023, despite a challenging banking environment. Highlights include maintaining strong liquidity, adding to its deposit base, and completing a comprehensive renovation of its headquarters. These efforts underscore Arrow's commitment to enhancing customer experience and operational efficiency.
The company also declared regular quarterly cash dividends, reflecting its strong financial health and commitment to returning value to shareholders. Recent dividends include $0.27 per share, marking the 43rd consecutive quarterly cash dividend. Moreover, Arrow Financial Corporation expanded its stock repurchase program by $5 million, highlighting its strategic focus on long-term shareholder value.
In a strategic move, Arrow's subsidiary, Glens Falls National Bank, entered a definitive agreement to acquire a branch office from Berkshire Bank, expanding its market presence and enhancing its services in the region. This acquisition is expected to be completed by the end of the third quarter of 2024.
Arrow Financial Corporation remains dedicated to its communities and has invested significantly in technology and team development. The company recently celebrated graduates from its internal leadership and development programs, reinforcing its culture of continuous improvement and collaboration.
Arrow Financial Corporation continues to deliver strong performance metrics, with recent quarterly results showing robust loan growth, strong credit performance, and healthy liquidity and capital positions. The company’s diversified revenue streams, primarily from interest income, fees, and commissions, support its stable financial foundation.
For more detailed financial information and latest updates, shareholders and interested parties are encouraged to review Arrow’s filings with the Securities and Exchange Commission (SEC), including its quarterly and annual reports.
Arrow Financial Corporation (NASDAQ: AROW) announced its noncompliance with Nasdaq's periodic filing requirements due to the failure to submit its Annual Report on Form 10-K for the year ended December 31, 2022, by the due date. The company had previously filed a Notification of Late Filing on March 16, 2023. The company plans to submit the overdue report as soon as possible and must provide a compliance plan by June 2, 2023. If accepted, Nasdaq may grant up to 180 days to regain compliance, extending the timeline to September 27, 2023. However, there is no guarantee of acceptance, and failure to comply may lead to delisting. The notice currently does not affect share trading, but it serves as a warning to investors about potential risks ahead.
Arrow Financial Corporation (NASDAQ: AROW) has appointed Penko Ivanov as Chief Financial Officer, effective February 21, 2023. Ivanov brings over 30 years of experience in finance, having previously served at Bankwell Financial Group and other notable firms. As CFO, he will oversee all financial operations for Arrow, which reported assets of $3.97 billion as of December 31, 2022. CEO Tom Murphy expressed confidence in Ivanov's expertise to enhance Arrow's financial strength and support its growth strategy.
On February 1, 2023, the Board of Directors of Arrow Financial Corporation (AROW) declared a quarterly cash dividend of $0.27 per share, payable on March 15, 2023, to shareholders of record as of March 3, 2023. This represents a 3.0% increase from the dividend paid in the first quarter of 2022, attributed to a 3% stock dividend distributed on September 23, 2022. Arrow Financial Corporation is a multi-bank holding company based in Glens Falls, New York, serving northeastern New York through its banks and investment services.
Arrow Financial Corporation (NasdaqGS – AROW) reported a net income of $48.8 million for fiscal year 2022, down 2.1% from 2021. Diluted earnings per share decreased 2.0% to $2.95. In Q4 2022, net income rose 17.2% to $12.1 million, with diluted EPS increasing 17.7% to $0.73. Total revenue for 2022 was $149.2 million, while total assets were $3.97 billion. Key metrics included a 1.21% return on assets and 13.55% return on equity. The company also achieved significant loan growth of 11.8%, but faced challenges with a $4.5 million rise in the provision for credit losses and a 4.5% increase in noninterest expenses.
The Board of Directors of Arrow Financial Corporation (AROW) has authorized a new stock repurchase program, allowing the company to buy back up to $5 million of its common stock in 2023. This replaces the previous $5 million program that expires on December 31, 2022. As of September 30, 2022, Arrow had repurchased approximately $2.46 million under the prior program. The company, a multi-bank holding entity based in Glens Falls, New York, serves the financial needs of northeastern New York.
Arrow Financial Corporation (NasdaqGS - AROW) announced a quarterly cash dividend of $0.27 per share, payable on December 15, 2022, to shareholders of record on December 1, 2022. This marks a 7% increase from the fourth quarter of 2021, driven by a $0.01 per share increase and a 3% stock dividend distributed on September 23, 2022. As a multi-bank holding company based in Glens Falls, New York, Arrow provides financial services through its subsidiaries, including Glens Falls National Bank.
Arrow Financial Corporation (NasdaqGS® – AROW) reported third-quarter 2022 net income of $12.2 million, a slight decrease from $13 million in the same quarter of 2021. Diluted earnings per share were $0.74, with a net interest margin of 3.14%. Total assets reached a record $4.2 billion, supported by strong loan growth of $80 million and deposit growth of $249 million. However, net charge-offs increased to $573 thousand from $153 thousand year-over-year. The company also recognized a special bonus for employees and announced consolidation efforts to optimize branch operations.
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