Welcome to our dedicated page for Arrow Finl news (Ticker: AROW), a resource for investors and traders seeking the latest updates and insights on Arrow Finl stock.
Arrow Financial Corporation (AROW) provides comprehensive hub for tracking this northeastern New York bank holding company's latest developments. Access press releases, financial filings, and strategic announcements from a provider of commercial lending, consumer banking services, and digital financial solutions.
This resource delivers essential updates including quarterly earnings reports, merger activity, leadership changes, and regulatory filings. Investors will find analysis of AROW's interest income trends, branch network expansions, and innovations in mobile banking platforms.
Content spans operational milestones across subsidiaries like Arrow Bank National Association, insurance services, and wealth management divisions. Monitor developments in commercial real estate lending, deposit products, and risk management practices shaping this regional financial institution.
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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.
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