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.
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.
The Board of Directors of Arrow Financial Corporation (NasdaqGS - AROW) announced a 3% stock dividend on August 31, 2022. This dividend will be distributed on September 23, 2022, to shareholders of record as of September 19, 2022. Shareholders will receive three additional shares for every 100 shares owned, with cash equivalents provided for any fractional shares. Arrow Financial, based in Glens Falls, New York, operates multiple banks and insurance subsidiaries, serving the financial needs of northeastern New York.
Arrow Financial Corporation (AROW) declared a quarterly cash dividend of $0.27 per share, an increase of 7% from the previous year. The dividend will be payable on September 15, 2022, to shareholders on record as of September 1, 2022. This is a result of a $0.01 share increase and a 3% stock dividend from the prior year. Arrow Financial operates in northeastern New York, providing banking and investment services through its subsidiaries.
Arrow Financial Corporation (NASDAQ: AROW) reported a net income of $12.0 million for Q2 2022, down from $13.3 million in Q2 2021. The diluted EPS was $0.75. Loan growth was significant, with gross loans increasing by $108 million, excluding a $17 million reduction in PPP loans. The provision for credit losses rose to $905,000, reflecting strong loan growth and economic uncertainties. Total assets stood at $4.0 billion, with total loans reaching a record $2.8 billion. Arrow declared a 7% increase in cash dividends, now at $0.27 per share.
The Board of Directors of Arrow Financial Corporation (AROW) declared a quarterly cash dividend of $0.27 per share, payable on June 15, 2022, to shareholders of record as of June 1, 2022. This marks a 7% increase from the previous year's second-quarter dividend, resulting from a $0.01 per share increase and a 3% stock dividend issued on September 24, 2021. Arrow Financial Corporation, based in Glens Falls, NY, operates as a multi-bank holding company and serves the financial needs of northeastern New York.
Arrow Financial Corporation (NasdaqGS – AROW) reported strong Q1 2022 financial results, achieving a net income of $12.6 million, down from $13.3 million YoY. Diluted earnings per share were $0.78. Total revenue grew by 3.5% to nearly $36 million. Loan growth was notable, with gross loans increasing by $69 million, while deposits rose by $164.9 million. The net interest margin slightly decreased to 2.90%. Key highlights include a strong balance sheet with total assets reaching $4.2 billion and a cash dividend of $0.27 per share, reflecting a 7% increase from the previous year.
Arrow Financial Corporation announced the promotion of David S. DeMarco, David D. Kaiser, Edward J. Campanella, and Andrew J. Wise to Senior Executive Vice Presidents effective February 1, 2022. The promotions reflect the company's strong operational and financial performance. Each executive will maintain their current roles within Arrow and its subsidiary banks, Glens Falls National Bank and Saratoga National Bank. President and CEO Thomas J. Murphy emphasized their dedication and commitment towards the company's success.
Arrow Financial Corporation (AROW) declared a quarterly cash dividend of $0.27 per share, payable on March 15, 2022, to shareholders of record on March 1, 2022. This marks a 1 cent increase from the December 2021 dividend and a 3.8% increase compared to the fourth quarter of 2021, reflecting the company's confidence in financial stability. Arrow Financial Corporation operates in northeastern New York through its subsidiaries, serving diverse banking and insurance needs.
Arrow Financial Corporation (NASDAQ: AROW) reported a record net income of $49.9 million for the year ended December 31, 2021, marking a 22.1% increase from $40.8 million in 2020. Total revenue grew by $10.9 million, while credit loss provisions decreased by $9.0 million, despite higher operating expenses. The fourth-quarter net income decreased by 17.5% to $10.3 million. Diluted EPS for 2021 rose to $3.10, up 21.2%, while fourth quarter EPS was $0.63, down 19.2%. Total assets reached a record $4 billion.
On October 27, 2021, Arrow Financial Corporation (NasdaqGS - AROW) announced a new stock repurchase program allowing for the buyback of up to $5 million of its common stock throughout 2022. This initiative replaces the previous $5 million program that expires on December 31, 2021. As of September 30, 2021, Arrow had repurchased approximately $1.46 million in stock under the prior program. The company, headquartered in Glens Falls, New York, operates as a multi-bank holding company and serves northeastern New York.