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 reports recurring developments as a bank holding company with banking, lending, wealth management, and investment-related activities. Company news commonly covers quarterly earnings, net interest margin trends, loan and deposit balances, investment portfolio activity, non-interest income, credit reserves, and the financial effects of bank-system integration and subsidiary unification.
Arrow updates also include capital actions such as quarterly cash dividends and common-stock repurchase authorization, along with governance matters involving board composition and shareholder derivative litigation disclosures. Its operating commentary centers on commercial and industrial lending, residential and commercial mortgage lending, consumer financing, online and mobile banking, and fee-based banking or advisory services.
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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.
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.