Arrow Financial Corporation Appoints Four New Board Members

Rhea-AI Summary

Arrow Financial (AROW) has appointed four new members to its Board of Directors, effective November 5, 2024. The new appointees are: James M. Dawsey, President of MLB Construction Services with 45 years of construction management experience; Dr. Kristine D. Duffy, President of SUNY Adirondack with 35 years of higher education experience; Philip Morris, CEO of Proctors Collaborative with expertise in cultural facilities development; and Daniel J. White, former Managing Partner at KPMG LLP with 37 years in community bank auditing.

Each director brings unique expertise: Dawsey in financial operations, Duffy in strategic planning and fundraising, Morris in project management and community engagement, and White in banking and accounting.

Positive

• Addition of a seasoned banking auditor (White) with 37 years of community bank expertise
• Strengthened financial oversight with two finance experts (Dawsey and White)
• Enhanced fundraising capabilities through Morris's track record of raising $200+ million
• Diversified board expertise across construction, education, cultural development, and banking sectors

Negative

• None.

GLENS FALLS, N.Y., Dec. 19, 2024 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS® - AROW) is pleased to announce the appointment of James M. Dawsey, Dr. Kristine D. Duffy, Philip Morris and Daniel J. White to the Arrow Financial Corporation Board of Directors, effective November 5, 2024.

James M. Dawsey, President of MLB Construction Services, LLC, will bring financial and operational expertise to the Arrow board, drawing from more than 45 years of experience in construction management and operations oversight. He has extensive expertise in reviewing financial statements, cost control and profit-and-loss oversight for his five companies. His proven ability to ensure financial strength and operational efficiency will provide valuable insight to the board. He currently serves on the board of directors of Glens Falls National Bank and Trust Company, Saratoga National Bank and Trust Company, Upstate Agency, LLC, Local Union 157 and the Eastern Contractors Association.

Dr. Kristine D. Duffy, President of SUNY Adirondack, has more than 35 years of New York state higher education experience and brings progressively responsible administrative and leadership roles to the board. Her expertise in personnel, strategic planning, capital fundraising and board governance will be instrumental in guiding the company's future. Duffy is involved with the community through several board positions, currently serving on the Glens Falls National Bank and Trust Company, Saratoga National Bank and Trust Company, Upstate Agency, LLC and Warren County Economic Development Corporation board of directors.

Philip Morris, CEO of Proctors Collaborative, brings extensive expertise in cultural facilities and development to the board, with nearly 50 years of experience renovating more than 20 buildings for cultural purposes and raising more than $200 million to support these projects. His proven success in fundraising, strategic planning and stakeholder collaboration will provide valuable insights into managing complex projects and fostering community engagement. Active in the community, Morris currently serves on the board of directors of Glens Falls National Bank and Trust Company, Saratoga National Bank and Trust Company, Upstate Agency, LLC and the Capital Region Economic Development Council.

Daniel J. White, a Certified Public Accountant, brings a wealth of experience to the board, having served as the former Office Managing Partner for KPMG LLP's Albany and Upstate offices. With a 37-year career specializing in community bank auditing and accounting, White's expertise will be invaluable to the board. White most recently served on the boards of Proctors Theater and the Capital District Center for Economic Growth.

"We are thrilled to welcome Jim, Kris, Philip and Dan to the Arrow Financial Corporation Board of Directors," said David S. DeMarco, President and CEO of Arrow Financial Corporation. "Their diverse backgrounds and expertise will greatly enhance our board's capabilities. We are confident their leadership and insights will help guide our organization as we continue to grow, innovate and serve our community with excellence."

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

Who are the four new board members appointed to Arrow Financial (AROW)?

The four new board members appointed to AROW are James M. Dawsey (MLB Construction Services President), Dr. Kristine D. Duffy (SUNY Adirondack President), Philip Morris (Proctors Collaborative CEO), and Daniel J. White (former KPMG LLP Managing Partner).

When did the new board appointments at Arrow Financial (AROW) become effective?

The new board appointments became effective on November 5, 2024.

What experience does Daniel J. White bring to Arrow Financial's (AROW) board?

Daniel J. White brings 37 years of experience as a Certified Public Accountant specializing in community bank auditing and accounting, previously serving as Office Managing Partner for KPMG LLP's Albany and Upstate offices.

How much fundraising experience does new AROW board member Philip Morris bring?

Philip Morris brings extensive fundraising experience, having raised more than $200 million for cultural projects and renovated over 20 buildings throughout his nearly 50-year career.

What is Dr. Kristine D. Duffy's background in relation to AROW's board appointment?

Dr. Kristine D. Duffy is the President of SUNY Adirondack with over 35 years of New York state higher education experience, bringing expertise in personnel, strategic planning, capital fundraising, and board governance.