Arrow Financial Corporation (AROW) Income Statement Analysis

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Complete financial analysis of Arrow Financial Corporation (AROW) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Arrow Financial Corporation, a leading company in the Banks – Regional industry within the Financial Services sector.

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Arrow Financial Corporation (AROW)

Industry: Banks - Regional

Sector: Financial Services

Website: https://www.arrowfinancial.com

About Arrow Financial Corporation

Arrow Financial Corporation, a bank holding company, provides commercial and consumer banking, and financial products and services. The company's deposit products include demand deposits, interest-bearing checking accounts, savings deposits, time deposits, and other time deposits. Its lending activities comprise commercial loans, such as term loans, time notes, and lines of credit; and commercial real estate loans to finance real estate purchases, refinancing, expansions, and improvements to commercial properties, as well as commercial construction and land development loans to finance projects. The company's lending activities also include consumer installment loans to finance personal expenditures, personal lines of credit, overdraft protection, and automobile loans; and residential real estate loans, fixed home equity loans, and home equity lines of credit for consumers to finance home improvements, debt consolidation, education, and other uses. In addition, it maintains an indirect lending program; and sells residential real estate loan originations into the secondary market. Further, the company provides retirement planning, trust, and estate administration services for individuals; and pension, profit-sharing, and employee benefit plan administration services for corporations. Additionally, it offers insurance agency services comprising group health care policies and life insurance, and property and casualty insurance products; and investment advisory services to its proprietary mutual funds, as well as holds a real estate investment trust. The company operates in the northeastern region of New York State in Warren, Washington, Saratoga, Essex, Clinton, Rensselaer, Albany, and Schenectady counties, as well as surrounding areas. It owns 26 branch banking offices; and leases 12 branch banking offices, as well as two residential loan origination offices. Arrow Financial Corporation was founded in 1851 and is headquartered in Glens Falls, New York.

Metric	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995	1994	1993	1992	1991	1990	1989	1988	1987	1986	1985
Revenue	130.57M	149.24M	142.72M	131.86M	116.60M	112.97M	105.30M	99.39M	94.05M	89.41M	84.28M	84.52M	84.04M	80.37M	80.33M	73.50M	62.58M	61.65M	62.96M	62.43M	61.47M	61.35M	55.70M	48.45M	47.30M	43.50M	39.20M	56.70M	50.40M	42.90M	41.40M	38.00M	39.80M	0.00	0.00	0.00	0.00	0.00	0.00
Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	130.57M	149.24M	142.72M	131.86M	116.60M	112.97M	105.30M	99.39M	94.05M	89.41M	84.28M	84.52M	84.04M	80.37M	80.33M	73.50M	62.58M	61.65M	62.96M	62.43M	61.47M	61.35M	55.70M	48.45M	47.30M	43.50M	39.20M	56.70M	50.40M	42.90M	41.40M	38.00M	39.80M	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit Ratio	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
General & Administrative	49.72M	48.18M	45.84M	43.12M	38.56M	39.67M	38.06M	35.41M	34.25M	32.06M	32.26M	32.73M	31.50M	27.55M	27.04M	24.55M	21.42M	22.10M	20.69M	19.82M	18.97M	18.86M	17.23M	15.59M	15.20M	13.80M	12.70M	15.00M	16.70M	16.20M	16.10M	14.60M	15.20M	0.00	0.00	0.00	0.00	0.00	0.00
Selling & Marketing	1.17M	1.19M	1.08M	1.14M	1.24M	1.08M	1.04M	1.08M	965.00K	886.00K	879.00K	831.00K	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SG&A	50.89M	48.18M	45.84M	43.12M	38.56M	39.67M	38.06M	35.41M	34.25M	32.06M	32.26M	32.73M	31.50M	27.55M	27.04M	24.55M	21.42M	22.10M	20.69M	19.82M	18.97M	18.86M	17.23M	15.59M	15.20M	13.80M	12.70M	15.00M	16.70M	16.20M	16.10M	14.60M	15.20M	0.00	0.00	0.00	0.00	0.00	0.00
Other Expenses	0.00	-130.75M	-124.16M	-123.12M	-108.09M	-104.22M	-142.43M	-133.68M	-126.95M	-120.23M	-115.52M	-116.08M	-114.79M	-107.60M	375.00K	-97.51M	-83.29M	-82.67M	-82.80M	-81.16M	-79.27M	-79.05M	-71.97M	-62.98M	-61.20M	-11.70M	-11.80M	-18.70M	-22.80M	-28.50M	-27.80M	-19.20M	-49.70M	7.00M	5.60M	4.80M	4.20M	3.70M	2.80M
Operating Expenses	73.00M	-82.57M	-78.32M	-80.00M	-69.53M	-55.18M	-104.37M	-98.28M	-92.70M	-88.17M	-83.25M	-83.35M	-83.29M	-80.05M	27.42M	-72.96M	-61.87M	-60.57M	-62.11M	-61.34M	-60.30M	-60.19M	-54.74M	-47.39M	-46.00M	2.10M	900.00K	-3.70M	-6.10M	-12.30M	-11.70M	-4.60M	-34.50M	7.00M	5.60M	4.80M	4.20M	3.70M	2.80M
Cost & Expenses	73.00M	-82.57M	-78.32M	-80.00M	-69.53M	-55.18M	-104.37M	-98.28M	-92.70M	-88.17M	-83.25M	-83.35M	-83.29M	-80.05M	27.42M	-72.96M	-61.87M	-60.57M	-62.11M	-61.34M	-60.30M	-60.19M	-54.74M	-47.39M	-46.00M	2.10M	900.00K	-3.70M	-6.10M	-12.30M	-11.70M	-4.60M	-34.50M	7.00M	5.60M	4.80M	4.20M	3.70M	2.80M
Interest Income	162.56M	129.65M	115.55M	111.90M	109.76M	96.50M	84.66M	76.92M	70.74M	66.86M	64.14M	69.38M	76.79M	84.97M	86.86M	89.51M	86.58M	80.61M	72.13M	68.44M	70.73M	75.15M	78.36M	75.62M	67.20M	63.00M	54.90M	54.90M	60.80M	52.50M	51.90M	57.80M	73.90M	0.00	0.00	0.00	0.00	0.00	0.00
Interest Expense	57.73M	11.31M	5.20M	12.69M	21.71M	12.49M	7.01M	5.36M	4.81M	5.77M	7.92M	11.96M	18.68M	23.70M	26.49M	32.28M	40.28M	34.74M	24.11M	19.21M	21.61M	25.11M	33.17M	37.37M	29.30M	28.10M	23.90M	21.90M	24.90M	18.20M	19.60M	28.40M	43.60M	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation & Amortization	6.72M	7.55M	7.83M	3.31M	2.46M	2.15M	2.20M	2.23M	6.29M	7.04M	8.87M	8.86M	6.51M	271.00K	324.00K	2.57M	2.87M	3.03M	2.81M	3.15M	4.91M	3.15M	2.76M	2.50M	2.00M	1.40M	1.40M	1.20M	1.60M	2.20M	3.60M	3.50M	2.90M	0.00	0.00	0.00	0.00	0.00	0.00
EBITDA	0.00	70.46M	72.23M	58.73M	52.58M	50.06M	45.25M	43.69M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	7.00M	5.60M	4.80M	4.20M	3.70M	2.80M
EBITDA Ratio	0.00%	49.73%	50.61%	44.54%	45.09%	55.36%	49.63%	49.35%	49.31%	51.83%	56.56%	62.30%	67.63%	73.29%	75.79%	87.46%	107.52%	100.22%	85.23%	81.36%	87.92%	91.14%	105.56%	122.31%	105.50%	108.05%	105.87%	95.59%	91.07%	76.46%	80.43%	97.11%	20.60%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Income	2.44M	66.67M	64.40M	51.86M	47.08M	57.79M	927.00K	1.11M	1.35M	1.24M	1.02M	1.17M	746.00K	316.00K	1.17M	541.00K	717.00K	1.08M	854.00K	1.09M	1.17M	1.16M	963.00K	1.06M	1.30M	45.60M	40.10M	53.00M	44.30M	30.60M	29.70M	33.40M	5.30M	7.00M	5.60M	4.80M	4.20M	3.70M	2.80M
Operating Income Ratio	1.87%	44.67%	45.12%	39.33%	40.37%	51.16%	0.88%	1.12%	1.44%	1.38%	1.22%	1.38%	0.89%	0.39%	1.46%	0.74%	1.15%	1.75%	1.36%	1.75%	1.90%	1.89%	1.73%	2.18%	2.75%	104.83%	102.30%	93.47%	87.90%	71.33%	71.74%	87.89%	13.32%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Total Other Income/Expenses	35.08M	-11.02M	-11.48M	-8.89M	-9.35M	-8.87M	-8.61M	-14.49M	-14.13M	-13.21M	-12.86M	-732.00K	0.00	0.00	2.59M	-440.00K	23.42M	22.94M	0.00	0.00	26.35M	26.51M	21.91M	18.34M	17.23M	-28.10M	-23.90M	-21.90M	-24.90M	-18.20M	-21.10M	-29.20M	-43.60M	0.00	0.00	0.00	0.00	0.00	0.00
Income Before Tax	37.52M	62.91M	64.40M	51.86M	47.08M	45.31M	39.86M	37.75M	35.27M	33.53M	30.87M	31.84M	31.65M	31.65M	31.58M	29.44M	24.14M	24.02M	26.74M	28.44M	27.52M	27.67M	22.87M	19.39M	18.60M	17.50M	16.20M	31.10M	19.40M	12.40M	8.60M	4.20M	-38.30M	0.00	0.00	0.00	0.00	0.00	0.00
Income Before Tax Ratio	28.74%	42.16%	45.12%	39.33%	40.37%	40.10%	37.85%	37.98%	37.50%	37.51%	36.63%	37.67%	37.66%	39.38%	39.31%	40.05%	38.57%	38.96%	42.47%	45.55%	44.78%	45.10%	41.06%	40.03%	39.32%	40.23%	41.33%	54.85%	38.49%	28.90%	20.77%	11.05%	-96.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Income Tax Expense	7.45M	14.11M	14.55M	11.04M	9.60M	9.03M	10.53M	11.22M	10.61M	10.17M	9.08M	9.66M	9.71M	9.75M	9.79M	9.00M	6.81M	7.12M	8.10M	8.96M	8.61M	8.77M	7.06M	5.71M	5.70M	5.70M	5.20M	10.80M	7.00M	1.10M	400.00K	1.30M	-4.90M	-7.00M	-5.60M	-4.80M	-4.20M	-3.70M	-2.80M
Net Income	30.08M	48.80M	49.86M	40.83M	37.48M	36.28M	29.33M	26.53M	24.66M	23.36M	21.80M	22.18M	21.93M	21.89M	21.79M	20.44M	17.33M	16.89M	18.64M	19.48M	18.92M	18.89M	15.82M	13.68M	12.90M	11.80M	11.00M	20.30M	12.40M	11.30M	9.70M	3.70M	-33.40M	7.00M	5.60M	4.80M	4.20M	3.70M	2.80M
Net Income Ratio	23.03%	32.70%	34.93%	30.96%	32.14%	32.11%	27.85%	26.70%	26.22%	26.13%	25.86%	26.24%	26.10%	27.24%	27.13%	27.81%	27.69%	27.40%	29.60%	31.20%	30.78%	30.80%	28.39%	28.24%	27.27%	27.13%	28.06%	35.80%	24.60%	26.34%	23.43%	9.74%	-83.92%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EPS	1.77	2.87	2.93	2.42	2.23	2.24	1.82	1.66	1.56	1.48	1.39	1.42	1.40	1.42	1.42	1.33	1.11	1.03	1.13	1.11	1.17	1.16	0.92	0.79	0.75	0.53	0.61	1.05	0.61	0.55	0.49	0.19	-1.78	0.37	0.56	0.51	0.42	0.38	0.31
EPS Diluted	1.77	2.86	2.92	2.41	2.22	2.22	1.81	1.65	1.55	1.47	1.38	1.41	1.40	1.41	1.41	1.32	1.10	1.02	1.11	1.08	1.15	1.13	0.90	0.79	0.74	0.52	0.60	1.04	0.61	0.55	0.49	0.19	-1.78	0.37	0.56	0.51	0.42	0.38	0.31
Weighted Avg Shares Out	17.04M	17.01M	16.99M	16.90M	16.82M	16.22M	16.11M	15.99M	15.86M	15.81M	15.73M	15.67M	15.62M	15.45M	15.40M	15.37M	15.59M	16.36M	16.56M	17.59M	16.13M	16.32M	17.22M	17.24M	17.24M	22.22M	18.14M	19.38M	20.45M	20.52M	19.75M	19.38M	18.75M	18.73M	9.98M	9.42M	9.89M	9.78M	9.10M
Weighted Avg Shares Out (Dil)	17.04M	17.06M	17.05M	16.91M	16.86M	16.31M	16.21M	16.09M	15.92M	15.85M	15.77M	15.68M	15.64M	15.49M	15.47M	15.45M	15.69M	16.58M	16.84M	18.00M	16.50M	16.69M	17.52M	17.39M	17.47M	22.56M	18.38M	19.45M	20.47M	20.52M	19.75M	19.38M	18.75M	18.73M	9.98M	9.42M	9.89M	9.78M	9.10M

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Arrow Financial Corporation - AROW

June 15, 2023prnewswire.com

NEW YORK , June 15, 2023 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Arrow Financial Corporation ("Arrow" or the "Company") (NASDAQ: AROW). Such investors are advised to contact Robert S.

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Thomas J. Murphy Terminates Employment as Arrow Financial Corporation President and CEO and as a Director of Arrow Financial Corporation; David S. DeMarco Appointed President and CEO

May 15, 2023prnewswire.com

GLENS FALLS, N.Y. , May 15, 2023 /PRNewswire/ -- Arrow Financial Corporation (the "Company" or "Arrow") (NasdaqGS® - AROW) announced that Thomas J.

Arrow Financial Corporation Announces Receipt of NASDAQ Noncompliance Notice

May 15, 2023prnewswire.com

GLENS FALLS, N.Y. , May 15, 2023 /PRNewswire/ -- Arrow Financial Corporation, a New York corporation (the "Company") announced that the Company is noncompliant with the periodic filing requirements for continued listing set forth in Nasdaq Listing Rule 5250(c)(1) (the...

Arrow Declares June 2023 Cash Dividend

May 3, 2023prnewswire.com

GLENS FALLS, N.Y. , May 3, 2023 /PRNewswire/ -- The Board of Directors of Arrow Financial Corporation (NasdaqGS® - AROW) on May 3, 2023, declared a quarterly cash dividend of $0.27 per share payable June 15, 2023, to shareholders of record on...