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Sep 30, 2023
Arrow Financial Q3 2023 Earnings Report
Reported net income of $7.7 million and earnings per share of $0.46, with loans reaching $3.1 billion following 9% annualized loan growth.
Key Takeaways
Arrow Financial Corporation reported a net income of $7.7 million for Q3 2023, with fully diluted earnings per share at $0.46. The company experienced substantial loan growth, reaching a record high of $3.1 billion, and deposit balances increased to $3.7 billion. Nonperforming assets decreased, and the company continued its pattern of issuing cash and stock dividends.
Record high loans of $3.1 billion, growing at an annualized rate of 9%, or $68.7 million.
Nonperforming assets decreased to $6.9 million, representing 0.16% of period-end assets.
Deposit balances increased to $3.7 billion, growing $164.3 million, or 4.7%.
Net interest margin was 2.53%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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