Arrow Financial (AROW)
Runs Arrow Bank across northeastern New York banking, insurance, and wealth services.
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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
No analyst consensus on record.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $30.9M · Total debt $335.1M · Total assets $4.48B · Shareholders' equity $446.3M
- Revenue
- $24.2M
- Operating income
- −$16.4M
- Net income
- $11.0M
HistoryDividendAnnual yield
| Institutions | ≈ 65.24% | 10.78M shares | |
|---|---|---|---|
| 148 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 3.38% | 559.4K shares | |
| 21 holders · as of Sep 9, 2026 | |||
| Other | ≈ 31.38% | 5.19M shares | |
| remainder | |||
16.53M company shares as of Aug 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Two share counts disagree (18.52M in the company's Sep 23, 2026 report, 16.53M elsewhere); stakes use the report.
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Arrow Financial CorpInstitution | 11.25% | 1.86M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 8.47% | 1.40M | as of Jun 30, 2026 |
Rhino Investment Partners, IncInstitution | 5.13% | 847,563 | as of Jun 30, 2026 |
Dimensional Fund Advisors LPInstitution | 4.39% | 725,492 | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 3.77% | 623,719 | as of Jun 30, 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 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Arrow Financial | $37.21 | −0.67% | $619.2M | 12.0 | 9.2 | 2.9 | +10.1% |
| Community Financial System | $61.21 | +0.11% | $3.21B | 14.2 | 12.6 | 3.1 | +9.6% |
| NBT Bancorp | $50.64 | −0.41% | $2.64B | 12.5 | 11.6 | 2.8 | +9.4% |
| TrustCo | $55.83 | −0.23% | $952.9M | 15.5 | — | 3.9 | +8.7% |
| Financial Institutions | $40.07 | −0.61% | $793.8M | 10.0 | 9.6 | 2.5 | +8.2% |
| Tompkins Financial | $97.70 | −0.12% | $1.41B | 8.0 | 12.2 | 2.9 | +5.4% |
| M&T Bank | $221.38 | −0.91% | $32.38B | 11.8 | 11.1 | 2.6 | +5.7% |
| Beacon Financial | $28.29 | −0.46% | $2.39B | 21.5 | 8.9 | 2.1 | +92.8% |
| Chemung Financial | $81.52 | −0.56% | $395.1M | 11.8 | 10.5 | 2.9 | +39.6% |
| Median | 12.1 | 11.1 | 2.8 | +9.1% |