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Sep 30, 2021
Arrow Financial Q3 2021 Earnings Report
Arrow Financial reported a net income of $13.0 million for Q3 2021 and surpassed $4 billion in total assets.
Key Takeaways
Arrow Financial Corporation announced strong operating results for the third quarter of 2021, with net income reaching $13.0 million and diluted earnings per share at $0.81. The company's profitability ratios remained robust, with a return on average assets of 1.32% and a return on average equity of 14.34%. Total assets exceeded $4 billion, marking a new record for the company.
Net income for the third quarter was $13.0 million, with diluted EPS at $0.81.
Return on average assets (ROA) was 1.32%, and return on average equity (ROE) was 14.34% for the third quarter.
Third-quarter revenue increased by $2.7 million, or 8.1%, compared to the same quarter last year.
Over $56 million of Small Business Administration Paycheck Protection Program (PPP) loans were forgiven during the third quarter of 2021.
Forward Guidance
Arrow Financial Corporation did not provide specific forward guidance in the Q3 2021 earnings report. The focus was primarily on reporting the results of the past quarter and highlighting strategic initiatives.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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