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Dec 31, 2024
Arrow Financial Q4 2024 Earnings Report
Reported net income of $4.5 million, or $0.27 per share.
Key Takeaways
Arrow Financial Corporation reported a net income of $4.5 million, with earnings per share of $0.27 for the fourth quarter of 2024. The results included non-core items that impacted the quarter, such as a loss on the sale of securities and expenses related to bank unification.
Reported net income of $4.5 million or $0.27 EPS.
Core net income was $7.8 million or $0.47 EPS.
Net Interest Margin improved to 2.83% (2.85% FTE).
Loan growth of $59 million (7.0% annualized) for the quarter.
Forward Guidance
Arrow Financial Corporation has completed a transformational year with the unification of its two subsidiary banks under one brand and strategic acquisitions. The company is positioned for increased profitability in 2025 through balance sheet management and loan growth.
Positive Outlook
- Completed the unification of two subsidiary banks under one brand, Arrow Bank.
- Acquired a bank branch in Whitehall, New York.
- Acquired the assets of a local insurance agency.
- Grew loans by mid-single digits.
- Expanded net interest margin.
Challenges Ahead
- Net income decreased compared to the prior quarter.
- Non-interest income decreased from previous quarter.
- Non-interest expense increased compared to the prior year.
- Municipal deposits decreased due to seasonality.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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