Arrow Financial Corporation (AROW)

Arrow Financial Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	171.34	142.02	112.98	104.99	100.49
Interest Income on Investments	23.65	20.55	16.67	10.57	11.4
Total Interest Income	194.99	162.56	129.65	115.55	111.9
Interest Paid on Deposits	78.75	50.1	9.83	3.53	10.63
Interest Paid on Borrowings	4.51	7.63	1.48	1.67	2.07
Total Interest Expense	83.26	57.73	11.31	5.2	12.69
Net Interest Income	111.73	104.83	118.34	110.36	99.2
Net Interest Income Growth (YoY)	6.58%	-11.42%	7.24%	11.24%	12.67%
Trust Income	9.95	9.44	9.71	10.14	8.89
Gain (Loss) on Sale of Investments	-2.91	-0.09	0.43	0.11	-0.46
Other Non-Interest Income	20.82	19.73	20.68	19.72	20.34
Total Non-Interest Income	28.07	29.12	30.9	32.37	32.66
Non-Interest Income Growth (YoY)	-3.58%	-5.76%	-4.54%	-0.88%	14.37%
Revenues Before Loan Losses	139.81	133.95	149.24	142.72	131.86
Provision for Loan Losses	5.18	3.38	4.8	0.27	9.32
Revenue	134.63	130.57	144.44	142.45	122.54
Revenue Growth (YoY)	3.11%	-9.61%	1.40%	16.25%	7.00%
Salaries and Employee Benefits	52.71	45.3	44.69	42.52	39.9
Occupancy Expenses	-	6.55	6.2	5.81	5.61
Federal Deposit Insurance	2.78	2.05	1.18	1.04	1.06
Selling, General & Administrative	26.53	21.14	19.63	18.23	16.28
Other Non-Interest Expense	15.25	18	9.84	8.97	7.82
Total Non-Interest Expense	97.27	93.05	81.53	76.57	70.68
EBT Excluding Unusual Items	37.36	37.52	62.91	65.88	51.86
Legal Settlements	-	-	-	-1.48	-
Pretax Income	37.36	37.52	62.91	64.4	51.86
Income Tax Expense	7.65	7.45	14.11	14.55	11.04
Net Income	29.71	30.08	48.8	49.86	40.83
Net Income to Common	29.71	30.08	48.8	49.86	40.83
Net Income Growth	-1.22%	-38.37%	-2.12%	22.12%	8.94%
Basic Shares Outstanding	17	17	17	17	17
Diluted Shares Outstanding	17	17	17	17	17
Shares Change (YoY)	-1.71%	-0.13%	0.04%	0.81%	0.30%
EPS (Basic)	1.77	1.77	2.87	2.93	2.42
EPS (Diluted)	1.77	1.77	2.86	2.92	2.42
EPS Growth	0.27%	-38.28%	-2.05%	20.86%	8.61%
Dividend Per Share	1.090	1.056	1.030	0.960	0.932
Dividend Growth	3.22%	2.52%	7.29%	3.00%	2.99%
Effective Tax Rate	20.47%	19.84%	22.43%	22.59%	21.28%

Source: S&P Capital IQ. Banks template. Financial Sources.