Arrow Financial
Runs Arrow Bank across northeastern New York banking, insurance, and wealth services.
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Profile
Provides community banking, insurance, and wealth management through Arrow Bank and related subsidiaries, with lending and deposits concentrated in northeastern New York. Recent work has unified legacy bank brands and added the Mohawk Valley through the Adirondack Bank acquisition.
Operates as a bank holding company built around Arrow Bank National Association, offering deposits, mortgages, commercial loans, consumer lending, insurance, and wealth management. The footprint is concentrated in northeastern New York, from the Plattsburgh-to-Albany corridor into the Mohawk Valley after the Adirondack Bank acquisition.
Recent execution has centered on simplifying Glens Falls National Bank and Saratoga National Bank into the Arrow Bank brand, then folding Adirondack Bank into the same platform. Management reports the company as one community banking segment because the business lines are similar and complementary.
Revenue is driven mainly by spread banking, with fees from fiduciary activities, service charges, insurance commissions, and loan sales as secondary sources. The business depends on local deposits, credit quality, branch-market relationships, and bank regulatory requirements.
Company facts
Categories
Key statistics
Year to date +22.0% · Average volume (30d) 90.7K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 23, 2026Q2 FY26 | $0.85 | $0.71 | −16.5% | $45.5M | $44.2M | −2.9% | +0.79% |
| Apr 30, 2026Q1 FY26 | $0.79 | $0.85 | +7.6% | $43.8M | $44.8M | +2.2% | +0.79% |
| Jan 29, 2026Q4 FY25 | $0.80 | $0.85 | +6.2% | $43.3M | $43.4M | +0.3% | +2.05% |
| Oct 30, 2025Q3 FY25 | $0.72 | $0.77 | +6.9% | $41.7M | $42.8M | +2.8% | +2.84% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $58.2M | $59.2M | $62.3M | $62.9M | $62.4M | $24.2M | |
| Gross profit | $34.2M | $39.5M | $42.0M | $42.6M | $44.2M | $6.0M | |
| Operating income | $8.1M | $13.9M | $16.6M | $16.8M | $17.3M | −$16.4M | |
| Net income | $6.3M | $10.8M | $12.8M | $14.0M | $13.5M | $11.0M | |
| Diluted EPS | $0.38 | $0.65 | $0.78 | $0.85 | $0.82 | $0.67 | |
| Gross margin | 58.7% | 66.8% | 67.5% | 67.7% | 70.8% | 24.9% | |
| Operating margin | 14.0% | 23.5% | 26.6% | 26.7% | 27.8% | -67.7% |
Fiscal years (4-quarter sums)FY21 $147.9M · FY22 $160.5M · FY23 $191.7M · FY24 $223.1M · FY25 $242.6M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $30.9M · Total debt $335.1M · Total assets $4.48B · Shareholders' equity $446.3M
Dividends
Raised for 32 straight years — most recently to $0.30 from $0.29 in Feb 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 11, 2026 | Aug 11 | Aug 25 | $0.30 | |
| May 12, 2026 | May 12 | May 26 | $0.30 | |
| Feb 11, 2026 | Feb 11 | Feb 25 | $0.30 | raised from $0.29 |
| Nov 12, 2025 | Nov 12 | Nov 24 | $0.29 | |
| Aug 11, 2025 | Aug 11 | Aug 25 | $0.29 | raised from $0.28 |
| May 13, 2025 | May 13 | May 23 | $0.28 | |
| Feb 10, 2025 | Feb 10 | Feb 24 | $0.28 | |
| Oct 15, 2024 | Oct 15 | Oct 29 | $0.28 | raised from $0.27 |
Ownership
Shares outstanding 16.53M · Float 14.19M · 85.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Arrow Financial Corp | 1.86M | 11.25% | 13F | Jul 31, 2026 |
| BlackRock, Inc. | 1.40M | 8.47% | 13F | Aug 7, 2026 |
| Rhino Investment Partners, Inc | 847.6K | 5.13% | 13F | Aug 14, 2026 |
| Dimensional Fund Advisors LP | 725.5K | 4.39% | 13F | Aug 11, 2026 |
| Vanguard Capital Management LLC | 623.7K | 3.77% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 17, 2026 | Mark Behan | director | −4,110 | $38.59 |
| Dec 24, 2025 | David S. DeMarco | officer: President & CEO | +3,035 | $31.78 |
| Nov 10, 2025 | Daniel James White | director | +1,644 | $30.14 |
| Nov 4, 2025 | Penko Krassimir Ivanov | officer: SEVP, Treasurer and CFO | +1,620 | $29.82 |
| Aug 8, 2025 | Kristine D. Duffy | director | +210 | $26.53 |
Peers
- Community Financial System
Broad Upstate NY bank with banking, insurance, and wealth overlap
- NBT Bancorp
Multi-state community bank with NY lending, wealth, and insurance overlap
- TrustCo
Capital Region deposit and mortgage rival with branch overlap
- Financial Institutions
Western and Central NY peer in banking, lending, and wealth
- Tompkins Financial
NY and Pennsylvania community bank with wealth-management overlap
- M&T Bank
Large NY regional bank competing in commercial, retail, and wealth
- Beacon Financial
Northeast regional bank with New England and New York overlap
- Chemung Financial
Southern Tier community bank with trust and retail banking overlap
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Arrow Financial | $38.16 | −0.05% | $630.7M | 12.2 | 9.5 | 3.0 | +10.1% |
| Community Financial System | $63.11 | −0.06% | $3.32B | 14.7 | 13.0 | 3.2 | +9.6% |
| NBT Bancorp | $51.55 | 0.00% | $2.68B | 12.6 | 11.8 | 2.8 | +9.4% |
| TrustCo | $57.13 | −0.16% | $972.8M | 15.9 | — | 4.0 | +8.7% |
| Financial Institutions | $40.96 | 0.00% | $806.4M | 10.1 | 9.8 | 2.6 | +8.2% |
| Tompkins Financial | $97.80 | −0.07% | $1.41B | 8.0 | 12.2 | 2.9 | +5.4% |
| M&T Bank | $237.29 | −0.08% | $34.39B | 12.5 | 11.9 | 2.8 | +5.7% |
| Beacon Financial | $31.39 | 0.00% | $2.64B | 23.8 | 9.9 | 2.3 | +92.8% |
| Chemung Financial | $81.60 | +0.41% | $393.3M | 11.8 | 10.5 | 2.8 | +39.6% |
| Median | 12.6 | 11.8 | 2.8 | +9.1% |