Arrow Named to Piper Sandler Sm-All Star List for Financial Performance

GLENS FALLS, N.Y. (October 13, 2021) — Arrow Financial Corporation (NasdaqGS® – AROW) is pleased to announce it was recently named to the prestigious Piper Sandler Sm-All Stars Class of 2021, a list of 35 top-performing small-cap banks and thrifts in the country.

Investment banking firm Piper Sandler Companies, evaluated 386 publicly traded banks and thrifts with a market cap below $2.5 billion based on eight metrics, including: growth, profitability, credit quality and capital strength. The field was then narrowed to the top 35.

Arrow Financial Corporation is one of just five New York financial institutions on the list and the only one headquartered locally.

According to Piper Sandler, “the performance metrics of the institutions featured are outstanding, with the Class of 2021 delivering “bottom-line results that are markedly better than the industry as a whole.”

“Arrow is pleased to once again be recognized nationally by Piper Sandler for our strong performance,” said President and CEO Thomas J. Murphy. “This achievement is a direct result of the Arrow team’s continued hard work and commitment.”

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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.