Arrow Financial Corporation
Description
Arrow Financial Corporation, a bank holding company, provides commercial and consumer banking, and financial products and services. The company's deposit products include demand deposits, interest-bearing checking accounts, savings deposits, time deposits, and other time deposits. Its lending activities comprise commercial loans, such as term loans, time notes, and lines of credit; and commercial real estate loans to finance real estate purchases, refinancing, expansions, and enhancement to commercial properties, as well as commercial construction and land development loans to finance projects. The company's lending activities also include consumer installment loans to finance personal expenditures, personal lines of credit, overdraft protection, and automobile loans; and residential real estate loans, fixed home equity loans, and home equity lines of credit for consumers to finance home improvements, debt consolidation, education, and other uses. In addition, it maintains an indirect lending program. Further, the company provides retirement planning, trust, and estate administration services for individuals, as well as pension, profit-sharing, and employee benefit plan administration services for corporations. Additionally, it offers insurance agency services comprising group health care policies and life insurance, and property and casualty insurance products; and investment advisory services to its proprietary mutual funds, as well as holds a real estate investment trust. It operates in the northeastern region of New York State in Warren, Washington, Saratoga, Essex, Clinton, Rensselaer, Albany, and Schenectady counties. Arrow Financial Corporation was founded in 1851 and is headquartered in Glens Falls, New York.
About
CEO
Mr. David S. DeMarco
Employees
560
Instrument type
Common Stock
Sector
Financial Services
Industry
Banks - Regional
MIC code
XNGS
Address
250 Glen Street, Glens Falls, NY 12801, United States
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Oscillators
No data available
Summary
No data available
Moving Averages
No data available
Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Oct 29, 2025 | — | — | — | — |
| Jul 23, 2025 | — | — | — | — |
| Apr 28, 2025 | — | — | — | — |
| Jan 30, 2025 | 0.59 | 0.27 | -0.32 | -54.24% |
| Oct 31, 2024 | 0.53 | 0.53 | 0.00 | 0.00% |
Earnings estimate
|
Current Quarter
(Mar 2025)
|
Next Quarter
(Jun 2025)
|
Current Year
(Dec 2025)
|
Next Year
(Dec 2026)
|
|
|---|---|---|---|---|
| Number of analysts | 2 | 2 | 2 | 2 |
| Average estimate | 0.62 | 0.65 | 2.65 | 2.96 |
| Low estimate | 0.61 | 0.64 | 2.60 | 2.95 |
| High estimate | 0.62 | 0.66 | 2.70 | 2.97 |
| Last year EPS | 0.45 | — | 2.05 | 2.65 |
[stock_revenue_estimate]
Growth estimates
Current qtr (Mar 2025)
36.670%
Next qtr. (Jun 2025)
—
Current year (Dec 2025)
29.270%
Next year (Dec 2026)
11.700%
Next 5 years (per annum)
—
Past 5 years (per annum)
—
Income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total reported revenue | 133.95M | 149.24M | 142.72M | 131.86M | 116.60M |
| Cost of revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Operating expense | |||||
| Research & development | — | — | — | — | — |
| Selling general and admin | 50.89M | 49.37M | 46.92M | 45.93M | 41.68M |
| Other operating expenses | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Non operating interest income | |||||
| Income | — | — | — | — | — |
| Expense | — | — | — | — | — |
| Other income expense | — | — | — | — | — |
| Pretax income | 37.52M | 62.91M | 64.40M | 51.86M | 47.08M |
| Tax provision | 7.45M | 14.11M | 14.55M | 11.04M | 9.60M |
| Net income | 30.08M | 48.80M | 49.86M | 40.83M | 37.48M |
| Basic EPS | 1.77 | 2.86 | 2.93 | 2.42 | 2.23 |
| Diluted EPS | 1.77 | 2.86 | 2.92 | 2.42 | 2.22 |
| Basic average shares | 17.04M | 17.01M | 16.99M | 16.90M | 16.82M |
| Diluted average shares | 17.04M | 17.01M | 16.99M | 16.90M | 16.82M |
| EBITDA | — | — | — | — | — |
| Net income from continuing op. | 30.08M | 48.80M | 49.86M | 40.83M | 37.48M |
| Minority interests | — | — | — | — | — |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | — | — | — | — | — |
| Current assets | |||||
| Cash | 36.76M | 31.89M | 26.98M | 42.12M | 47.04M |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 142.54M | 64.66M | 457.70M | 380.99M | 70.22M |
| Other short term investments | 497.77M | 573.50M | 559.32M | 365.29M | 357.33M |
| Accounts receivable | — | — | — | — | — |
| Other receivables | — | — | — | — | — |
| Inventory | — | — | — | — | — |
| Prepaid assets | — | — | — | — | — |
| Restricted cash | — | — | — | — | — |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | — | — | — | — | — |
| Non current assets | |||||
| Properties | 4.46M | 4.64M | 4.81M | 4.99M | 5.17M |
| Land and improvements | 60.12M | 41.30M | 40.85M | 39.62M | 39.34M |
| Machinery furniture equipment | 37.95M | 35.11M | 38.50M | 33.28M | 30.53M |
| Construction in progress | 1.10M | 15.86M | — | — | — |
| Leases | 5.13M | 5.08M | 4.41M | 4.63M | 3.76M |
| Accumulated depreciation | -49.12M | -45.49M | -42.35M | -39.91M | -38.17M |
| Goodwill | 44.86M | 45.25M | 45.66M | 45.70M | 45.41M |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | 1.11M | 1.50M | 1.92M | 1.95M | 1.66M |
| Investments and advances | 636.14M | 757.10M | 763.01M | 590.68M | 614.78M |
| Other non current assets | — | — | — | — | — |
| Total liabilities | — | — | — | — | — |
| Current liabilities | |||||
| Accounts payable | — | — | — | — | — |
| Accrued expenses | — | — | — | — | — |
| Short term debt | 20.00M | 27.00M | — | — | 130.00M |
| Deferred revenue | — | — | — | — | — |
| Tax payable | — | — | — | — | — |
| Pensions | — | — | — | — | — |
| Other current liabilities | — | — | — | — | — |
| Non current liabilities | |||||
| Long term debt | 51.57M | 79.92M | 70.17M | 70.22M | 185.25M |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | — | — | — | — | — |
| Derivative product liabilities | — | — | — | — | — |
| Other non current liabilities | — | — | — | — | — |
| Shareholders equity | |||||
| Common stock | 22.07M | 21.42M | 20.80M | 20.19M | 19.61M |
| Retained earnings | 65.79M | 65.40M | 54.08M | 41.90M | 33.22M |
| Other shareholders equity | -33.42M | -49.66M | 347,000 | -816,000 | -6.36M |
| Total shareholders equity | 379.77M | 353.54M | 371.19M | 334.39M | 301.73M |
| Additional paid in capital | 412.55M | 400.27M | 378.00M | 353.66M | 335.36M |
| Treasury stock | 87.22M | 83.90M | 82.04M | 80.55M | 80.09M |
| Minority interest | — | — | — | — | — |
Cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | 1994 | 1993 | 1992 | 1991 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||||||||||||||||||||
| Net Income | 30.08M | 48.80M | 49.86M | 40.83M | 37.48M | 36.28M | 29.33M | 26.53M | 24.66M | 23.36M | 21.80M | 22.18M | 21.93M | 21.89M | 21.79M | 20.44M | 17.33M | 16.89M | 18.64M | 19.48M | 18.92M | 18.89M | 15.82M | 13.68M | 12.90M | 11.80M | 11.00M | 20.30M | 12.40M | 11.30M | 8.20M | 2.90M | -33.40M |
| Depreciation | 6.72M | 7.55M | 7.83M | 6.87M | 5.50M | 4.75M | 5.40M | 5.94M | 6.29M | 7.04M | 8.87M | 8.86M | 6.51M | 3.56M | 2.81M | 2.57M | 2.87M | 3.03M | 2.81M | 3.15M | 4.91M | 3.15M | 2.76M | 2.50M | 2.00M | 1.40M | 1.40M | 1.20M | 1.60M | 2.20M | 3.60M | 3.50M | 2.90M |
| Deferred Taxes | 1.80M | -1.25M | 945,000 | -2.24M | 344,000 | -92,000 | -1.53M | -283,000 | 1.04M | -299,000 | 294,000 | -353,000 | 2.17M | 154,000 | 705,000 | 2.20M | 1.02M | 344,000 | 190,000 | 597,000 | 2.23M | 528,000 | -448,000 | 158,000 | 300,000 | 300,000 | 400,000 | 100,000 | -500,000 | -2.00M | -2.70M | -300,000 | 1.40M |
| Stock-Based Compensation | 823,000 | 859,000 | 790,000 | 545,000 | 829,000 | 735,000 | 937,000 | 1.61M | 1.03M | 1.01M | 996,000 | 1.01M | 957,000 | 901,000 | 189,000 | 365,000 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Non-Cash Items | -158,000 | -160,000 | 11.70M | -7.72M | 13,000 | -497,000 | -89,000 | -55,000 | -3.07M | -471,000 | 3.72M | 45,000 | 4.95M | -11.08M | 116,000 | 121,000 | -1.37M | 2.92M | 271,000 | 1.90M | 2.21M | 2.84M | 7.91M | 2.91M | 4.20M | 5.10M | 3.40M | -9.10M | 13.60M | 7.00M | 15.20M | 3.60M | 54.50M |
| Accounts Receivable | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Accounts Payable | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Assets & Liabilities | -19.95M | -570,000 | -1.03M | -1.75M | -2.50M | -1.86M | 825,000 | -521,000 | -1.65M | -1.03M | 2.67M | 3.10M | 2.41M | -3.99M | -6.30M | -470,000 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Operating Cash Flow | 19.31M | 55.22M | 70.09M | 36.53M | 41.67M | 39.32M | 34.87M | 33.23M | 28.31M | 29.61M | 38.35M | 34.83M | 38.93M | 11.44M | 19.32M | 25.23M | 19.86M | 23.18M | 21.91M | 25.13M | 28.27M | 25.40M | 26.03M | 19.24M | 19.40M | 18.60M | 16.20M | 12.50M | 27.10M | 18.50M | 24.30M | 9.70M | 25.40M |
| Investing Activities | |||||||||||||||||||||||||||||||||
| Capital Expenditures | -4.37M | -12.78M | -5.59M | -2.65M | -6.27M | -3.28M | -1.19M | 550,000 | 280,000 | -231,000 | -444,000 | -6.81M | -4.60M | -469,000 | -1.20M | -1.31M | -1.45M | -1.35M | -1.59M | -1.85M | -1.53M | -1.59M | -1.81M | -1.77M | -1.90M | -1.40M | -900,000 | -2.10M | -600,000 | -800,000 | -400,000 | -700,000 | -1.70M |
| Net Intangibles | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net Acquisitions | — | — | — | — | — | 98,000 | 96,000 | 72,000 | 132,000 | -75,000 | -75,000 | -75,000 | -3.30M | 264,000 | — | — | — | — | 47.08M | 31,000 | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Purchase of Investments | -81.83M | -196.24M | -332.75M | -181.19M | -135.35M | -92.25M | -158.11M | -217.38M | -270.03M | -174.86M | -246.04M | -337.66M | -386.01M | -389.15M | -319.99M | -161.73M | -98.39M | -102.70M | -110.22M | -81.29M | -327.49M | -205.89M | -111.44M | -82.11M | -103.00M | -268.00M | -131.40M | -100.20M | -43.10M | -55.50M | -72.10M | -27.40M | -106.50M |
| Sale of Investments | 232.13M | 136.19M | 148.89M | 204.11M | 137.67M | 120.79M | 210.28M | 243.11M | 208.78M | 259.77M | 196.93M | 318.93M | 359.83M | 319.86M | 163.15M | 157.69M | 75.50M | 107.28M | 90.61M | 101.36M | 277.34M | 133.35M | 107.24M | 82.28M | 142.00M | 204.00M | 69.00M | 88.30M | 37.20M | 51.30M | 22.00M | 19.10M | 116.90M |
| Investing Cash Flow | 146.25M | -73.52M | -189.48M | 13.24M | 1.23M | 19.80M | 52.03M | 24.28M | -64.83M | 80.79M | -50.11M | -24.69M | -47.90M | -69.16M | -158.04M | -82.67M | -55.31M | 4.57M | -87.70M | -2.80M | -108.01M | -130.99M | -61.61M | -82.53M | -75.30M | -130.30M | -159.80M | 109.10M | -30.20M | -16.30M | -72.60M | 16.60M | 48.30M |
| Financing Activities | |||||||||||||||||||||||||||||||||
| Long-Term Debt Issuance | 256.50M | 27.00M | — | 45.00M | — | — | — | — | 55.00M | — | — | — | 10.00M | 10.00M | — | — | 40.00M | 112.63M | 162.00M | 89.80M | 50.00M | 30.00M | 62.50M | 52.50M | 45.00M | 45.00M | — | — | — | — | — | — | — |
| Long-Term Debt Payments | -284.85M | -17.25M | -17.53M | -30.04M | -122.59M | -10.00M | — | — | -10.00M | -10.00M | -10.00M | -10.00M | -100.00M | -20.00M | -20.00M | — | -5.00M | -92.00M | -155.00M | -84.80M | -35.00M | — | -32.70M | -60.00M | — | — | — | — | -4.70M | -100,000 | -100,000 | -100,000 | -200,000 |
| Other Financing Charges | — | — | — | — | — | — | — | 188,000 | 59,000 | 25,000 | 23,000 | 68,000 | 51,000 | -895,000 | 466,000 | 646,000 | -1.02M | -30.16M | 862,000 | 820,000 | — | — | -105,000 | -464,000 | 100,000 | -100,000 | 127.80M | -192.90M | 100,000 | -100,000 | — | -100,000 | 100,000 |
| Financing Cash Flow | -49.47M | 18.34M | -52.14M | -164.16M | -246.05M | 93.97M | -4.03M | 40.36M | 76.50M | -29.19M | 584,000 | -51.42M | -90.56M | -44.22M | -17.96M | -6.27M | 29.35M | -19.31M | -2.62M | -140,000 | -787,000 | 33.32M | 23.02M | 599,000 | 46.60M | 39.10M | 125.20M | -189.40M | -17.40M | 10.20M | -3.30M | -10.20M | -13.50M |
| Other Cash Details | |||||||||||||||||||||||||||||||||
| End Cash Position | 142.54M | 64.66M | 457.70M | 380.99M | 70.22M | 84.24M | 72.84M | 57.36M | 51.07M | 46.30M | 49.98M | 48.83M | 43.74M | 31.08M | 67.12M | 58.34M | 51.29M | 44.00M | 35.56M | 36.81M | 33.33M | 32.14M | 41.94M | 26.61M | 28.10M | 30.70M | — | — | — | — | — | — | — |
| Income Tax Paid | 6.64M | 13.02M | 14.76M | 10.97M | 9.93M | 10.04M | 11.45M | 11.96M | 9.36M | 10.06M | 8.34M | 8.87M | 7.95M | 15.22M | 10.30M | 6.24M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Interest Paid | 51.83M | 5.75M | 5.37M | 13.80M | 20.84M | 12.21M | 6.96M | 5.34M | 4.86M | 5.93M | 8.07M | 12.52M | 19.49M | 24.00M | 27.20M | 34.42M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Free Cash Flow | 13.50M | 45.46M | 61.07M | 37.18M | 36.16M | 36.87M | 35.23M | 33.25M | 27.31M | 29.17M | 34.44M | 24.39M | 30.71M | 9.14M | 16.46M | 23.13M | 19.76M | 21.83M | 22.19M | 19.77M | 24.62M | 17.37M | 26.32M | 18.44M | 12.20M | 22.30M | 11.10M | 10.80M | 28.60M | 20.20M | 43.60M | 37.30M | 19.30M |
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Article
Arrow Reports 4th Quarter Net Income of $4.5 Million or $0.27 per Share and $29.7 Million or $1.77 per Share for 2024. Declares first quarter dividend of $0.28 per share.
GLENS FALLS, N.Y. , Jan. 30, 2025 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS® – AROW) ("Arrow") reported net income of $4.5 million, and fully diluted earnings per share ("EPS") of $0.27 for the fourth quarter of 2024, versus $7.7 million and EPS of $0.46, for the same period in 2023.
Jan 30, 2025
Article
Arrow Financial Unifies Banking Subsidiaries and Rebrands as Arrow Bank
GLENS FALLS, N.Y. , Jan. 2, 2025 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS® - AROW) today announced that its subsidiary, Glens Falls National Bank and Trust Company has unified with its affiliate bank, Saratoga National Bank and Trust Company, and the resulting bank has legally changed its name to Arrow Bank National Association, or Arrow Bank.
Jan 2, 2025
Article
Arrow Financial Corporation Appoints Four New Board Members
GLENS FALLS, N.Y. , Dec. 19, 2024 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS® - AROW) is pleased to announce the appointment of James M.
Dec 19, 2024
