Loading...
•
Jun 30, 2023
Arrow Financial Q2 2023 Earnings Report
Reported $6.0 million in net income and achieved a record high of $3.1 billion in loans.
Key Takeaways
Arrow Financial Corporation reported a net income of $6.0 million for Q2 2023, with fully diluted earnings per share at $0.36. Total loans reached a record high of $3.1 billion, growing at an annualized rate of 8.6%. The company also saw a decrease in nonperforming assets and maintained strong on-balance sheet liquidity.
Total loans reached a record high of $3.1 billion, growing at an annualized rate of 8.6%.
Nonperforming assets decreased to $7.1 million, representing 0.17% of period-end assets.
Net charge-offs to average loans were 0.07%, compared to 0.10% in the previous quarter.
Allowance for Credit Losses to Nonperforming Loans coverage was 477%.
Forward Guidance
The company remains focused on enhancing the customer experience and optimizing operations, with a recent renovation of their headquarters in downtown Glens Falls, New York.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...