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GLENS FALLS, N.Y., April 27, 2021 /PRNewswire/ Arrow Financial Corporation (NasdaqGS® – AROW) announced operating results for the three-month period ended March 31, 2021. Net income for the first quarter of 2021 was $13.3 million, compared to $8.1 million in the first quarter of 2020. Net interest income increased to $26.2 million in the first quarter of 2021, compared to $23.0 million for the comparable quarter of 2020.
Annualized key profitability ratios remained strong, as measured by a return on average equity (ROE) of 15.81% and a return on average assets (ROA) of 1.45% for the first quarter, compared to 10.66% and 1.03%, respectively, for the prior year quarter.
Arrow Financial : Reports $13 3 million in Net Income and Diluted EPS of $0 85 in Q1 marketscreener.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketscreener.com Daily Mail and Mail on Sunday newspapers.
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GLENS FALLS, N.Y., Jan. 28, 2021 /PRNewswire/ Arrow Financial Corporation (NasdaqGS
® – AROW) announced operating results for the three- and 12-month periods ended December 31, 2020. For the fourth quarter of 2020, net income was $12.5 million, an increase of $2.8 million, or 28.3%, from the fourth quarter of 2019. For the year ended December 31, 2020, net income was a record $40.8 million, up 8.9% over net income of $37.5 million for 2019. Diluted EPS was $0.81 for the fourth quarter, up 28.6% from $0.63 from the comparable 2019 quarter, and $2.64 for 2020, up 8.5% from $2.43 in 2019.
Profitability ratios remained solid in 2020, as return on average equity (ROE) and return on average assets (ROA) were 12.77% and 1.17%, respectively, as compared to 13.17% and 1.24%, respectively, for 2019. ROE was 14.98% for the fourth quarter, up from 13.05% from the fourth quarter of 2019. ROA was 1.34% for the fourth quarter, which represents an increase from 1.24% for