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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: March 20, 2025
(Date of earliest event reported)
ARROW FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
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| New York |
0-12507 |
22-2448962 |
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(Commission File Number) |
(IRS Employer Identification No.) |
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| 250 Glen Street |
Glens Falls |
New York |
12801 |
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(Zip Code) |
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| Registrant’s telephone number, including area code: |
518 |
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745-1000 |
(Former name or former address, if changed since last report)
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| Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: |
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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| Title of Each Class |
Trading Symbol |
Name of each exchange on which registered |
| Common Stock, Par Value $1.00 per share |
AROW |
NASDAQ Global Select Market |
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| Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). |
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| Emerging growth company |
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| If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act |
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Item 7.01. Regulation FD Disclosure
On March 20, 2025, Arrow Financial Corporation (“Arrow”) will participate in an Investor Day in Chicago, Illinois. In addition to the Fourth Quarter 2024 Investor Presentation previously furnished on the Form 8-K filed January 30, 2025, Arrow has prepared a mid-quarter First Quarter 2025 update of select financial information for use during meetings with certain bank stock analysts and current and potential investors at the Investor Day Conference (the “Conference Presentation”). A copy of the additional Conference Presentation materials is attached hereto as Exhibit 99.1 and incorporated herein.
The information contained in this Item 7.01 and in Exhibit 99.1 attached to this Report is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of such section. Furthermore, such information shall not be deemed to be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended.
Item 9.01. Financial Statements and Exhibits
Exhibit No. Description
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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ARROW FINANCIAL CORPORATION |
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| Date: |
March 20, 2025 |
/s/ Penko Ivanov |
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Penko Ivanov
Chief Financial Officer |
EX-99.1
2
arrowmidq1investorupdate.htm
EX-99.1
arrowmidq1investorupdate
Investor Day - Chicago March 20, 2025
2 Safe Harbor This presentation may contain certain forward-looking statements about Arrow Financial Corporation (“Arrow” or the “Company”). Forward-looking statements, as defined in Section 21E of the Securities Exchange Act of 1934, as amended, include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe,” “expect,” “would,” “should,” “could,” or “may.” Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include increased competitive pressures, changes in the interest rate environment, general economic conditions or conditions within the banking industry or securities markets, and legislative and regulatory changes that could adversely affect the business in which the Company and its subsidiaries are engaged. We are not obligated to revise or update these statements to reflect unanticipated events. This document should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 (the “2024 10- K”), the fourth quarter 2024 earnings release (the “4Q Earnings Release”) and the related Investor Presentation, both issued on January 30, 2025.
3 Solid 2025 Start - Net Interest Margin 1 1Yield includes the impact of deferred fees and amortization of loan origination costs 2FTE has historically been 1-2 bps higher than NIM reported under GAAP 2.98% 2.63% 2.55% 2.55% 2.62% 2.69% 2.79% 2.85% 3.02% 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 YTD 2025 All NIM 2024 and beyond presented on a fully taxable equivalent basis (FTE2) 2.67% 2.62% 2.69% 2.79% 2.85% 3.02% 4.62% 5.01% 5.17% 5.27% 5.31% 5.26% 1.43% 2.06% 2.12% 2.12% 2.15% 1.98% 2023 1Q24 2Q24 3Q24 4Q24 YTD 2025 NIM Average Loan Yield for the Period Shown Cost of Deposits Continued NIM expansion expected… but moderating absent additional rate cuts
4 Solid 2025 Start - Loan Exit Rates1 & Trends 1Q24 2Q24 3Q24 4Q24 February 2025 Consumer 5.70% 5.99% 6.19% 6.32% 6.40% Commercial Real Estate 5.34% 5.38% 5.36% 5.31% 5.31% Commercial 5.14% 5.27% 5.36% 5.36% 5.37% Residential Real Estate 4.41% 4.51% 4.61% 4.66% 4.68% Total Loans 5.14% 5.25% 5.35% 5.40% 5.43% Loan origination rates continue to exceed current portfolio rates Loan pipeline, in line with prior year 1Average portfolio rates as of the last day of the reporting period
5 Solid 2025 Start - Other • Tangible Book Value1 of $22.72 per share as of February 28, 2025; includes impact of $0.28 per share 1Q2025 dividend • 2025 Share Repurchase Activity Through March 14, 2025, ~$3.4M of stock repurchases 128K shares at an average price of $26.48 • Expanded our Capital Region Commercial Banking Team • M&A conversations ongoing Branch(es) Bank(s) Wealth Management Insurance • Resolution of Material Weakness Initially disclosed in the 2022 Form 10-K filed on July 17, 2023 Reported resolved with 2024 Form 10-K filed on March 14, 2025 1Tangible Book Value excludes Goodwill and Intangibles Assets
Thank You!
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