GLENS
FALLS, N.Y., Oct. 10,
2024 /PRNewswire/ -- Arrow Financial Corporation
(NasdaqGS® – AROW) is pleased to announce it was recently named to
the prestigious Piper Sandler Sm-All Stars: Class of 2024, a list
of 30 top-performing small-cap banks and thrifts in the
country.
To earn Sm-All Star status, banks and thrifts needed to have a
market cap below $2.5 billion and
meet certain criteria related to growth, profitability, credit
quality and capital strength. Against industry medians, banks
needed to outperform in earnings per share growth, loan growth,
deposit growth and return on average equity, in addition to meeting
nonperforming asset, net charge-off and tangible common equity
ratio benchmarks.
Arrow is one of just three New
York financial institutions on the list and the only bank in
Upstate New York. Piper Sandler, an
independent investment bank and research firm, evaluated more than
300 institutions that trade on a major exchange, narrowing the
field to the top 30.
"We're incredibly honored to be named to the Piper Sandler
Sm-All Stars: Class of 2024," said President and CEO Dave DeMarco. "This recognition is a testament
to the hard work, dedication and talent of our entire team. We look
forward to building on this success and continuing to deliver value
to our shareholders, customers and communities."
About Arrow Financial Corporation:
Arrow Financial
Corporation is a multi-bank holding company headquartered in
Glens Falls, New York, serving the
financial needs of northeastern New
York. The Company is the parent of Glens Falls National Bank
and Trust Company and Saratoga National Bank and Trust Company.
Other subsidiaries include North Country Investment Advisers, Inc.
and Upstate Agency, LLC.
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SOURCE Arrow Financial Corporation