Arrow Financial Corporation reported net income of $9.7 million, an increase of 11.2% compared to the fourth quarter of 2018. Diluted EPS was $0.65, up 10.2% from $0.59 in the comparable 2018 quarter. The company's profitability ratios remained solid, with a return on average equity of 13.05% and a return on average assets of 1.24%.
Net income for Q4 2019 was $9.7 million, up 11.2% year-over-year.
Diluted EPS for Q4 2019 grew to $0.65, a 10.2% increase year-over-year.
Total loan balances reached a record high of $2.4 billion.
Total deposit balances reached $2.6 billion, up by $270.5 million from the prior year.
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