The institution maintains a stable capital buffer with an equity-to-assets ratio of 0.10, supported by a 4.3 billion dollar investment securities portfolio.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Cash & Short Term Investments | 1.7B | 29.13M | 617.66M | 640.3M | 638.15M | 1.02B | 746.28M | 427.56M | 401.77M | 373.04M | 404.35M | 453.38M | 412.43M | 507.59M | 527.53M | 600.27M | 31.08M | 67.12M | 58.34M | 35.29M | 43.99M | 35.56M | 29.8M | 27.53M | 29.14M | 27.94M | 26.61M | 28.07M | 30.7M | 46.9M | 37.5M |
| Cash & Due from Banks | 29.1M | 29.13M | 154.55M | 142.54M | 64.66M | 457.7M | 380.99M | 70.22M | 84.24M | 72.84M | 57.35M | 51.07M | 46.3M | 49.98M | 48.83M | 43.74M | 31.08M | 67.12M | 58.34M | 35.29M | 43.99M | 35.56M | 29.8M | 27.53M | 29.14M | 27.94M | 26.61M | 28.07M | 30.7M | 46.9M | 37.5M |
| Short Term Investments | 0 | 0 | 463.11M | 497.77M | 573.5M | 559.32M | 365.29M | 357.33M | 317.54M | 300.2M | 347M | 402.31M | 366.14M | 457.61M | 478.7M | 556.54M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 4.26B | 4.18B | 3.93B | 3.82B | 3.71B | 3.4B | 3.16B | 2.98B | 2.79B | 2.58B | 2.44B | 2.29B | 2.07B | 2.01B | 1.88B | 1.82B | 1.82B | 1.71B | 1.56B | 1.48B | 1.42B | 1.43B | 1.3B | 1.3B | 1.2B | 1.07B | 1.02B | 931.87M | 870.1M | 745.5M | 590.5M |
| Investments Growth % | 19.41% | 6.23% | 2.98% | 2.9% | 9.01% | 7.83% | 5.93% | 6.64% | 8.38% | 5.68% | 6.55% | 10.83% | 2.84% | 7.11% | 2.84% | 0.38% | 6.01% | 10.16% | 5.17% | 4.08% | -0.54% | 10.19% | -0.18% | 8.13% | 12.05% | 5.45% | 9.1% | 7.1% | 16.71% | 26.25% | -15.43% |
| Long-Term Investments | 15.34B | 4.18B | 3.47B | 3.32B | 3.14B | 2.84B | 2.79B | 2.62B | 2.48B | 2.28B | 2.09B | 1.89B | 1.7B | 1.55B | 1.4B | 1.27B | 1.82B | 1.71B | 1.56B | 1.48B | 1.42B | 1.43B | 1.3B | 1.3B | 1.2B | 1.07B | 1.02B | 931.87M | 870.1M | 745.5M | 590.5M |
| Accounts Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5.49M | 6.08M | 6.51M | 7.12M | 6.61M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill & Intangibles | 25.48M | 25.53M | 25.85M | 22.98M | 23.37M | 23.79M | 23.82M | 23.53M | 23.73M | 24.16M | 24.57M | 24.98M | 25.63M | 26.14M | 26.5M | 26.75M | 17.24M | 16.71M | 16.38M | 16.59M | 16.93M | 17.34M | 11.74M | 9.46M | 9.71M | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill | 23.79M | 23.79M | 23.79M | 21.87M | 21.87M | 21.87M | 21.87M | 21.87M | 21.87M | 21.87M | 21.87M | 21.87M | 22M | 22M | 22M | 22M | 15.78M | 15.27M | 14.73M | 14.61M | 14.5M | 14.45M | 10.72M | 9.3M | 9.3M | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 1.69M | 1.74M | 2.06M | 1.11M | 1.5M | 1.92M | 1.95M | 1.66M | 1.85M | 2.29M | 2.7M | 3.11M | 3.63M | 4.14M | 4.49M | 4.75M | 1.46M | 1.44M | 1.65M | 1.98M | 2.42M | 2.88M | 1.02M | 166K | 418K | 0 | 0 | 0 | 0 | 0 | 0 |
| PP&E (Net) | 59.56M | 59.43M | 59.72M | 59.64M | 56.49M | 46.22M | 42.61M | 40.63M | 30.45M | 27.62M | 26.94M | 27.44M | 28.49M | 29.15M | 28.9M | 22.63M | 18.84M | 18.76M | 17.6M | 16.73M | 16M | 15.88M | 14.94M | 14.17M | 13.71M | 13.1M | 12.39M | 11.77M | 11.1M | 10.8M | 9.4M |
| Other Assets | -4.26B | -4.18B | 134.51M | 126.93M | 114.63M | 96.58M | 84.73M | 70.18M | 55.61M | 57.61M | 56.79M | 53.03M | 51.15M | 49.52M | 37.54M | 39.8M | 17.95M | 18.22M | 10.55M | 37.12M | 22.19M | 22.03M | 24.84M | 23.81M | 17.59M | 37.91M | 25.7M | 29.39M | 27.1M | 28.4M | 15.2M |
| Total Current Assets | 29.1M | 29.13M | 617.66M | 640.3M | 638.15M | 1.02B | 746.28M | 427.56M | 401.77M | 373.04M | 404.35M | 453.38M | 412.43M | 507.59M | 533.02M | 606.36M | 37.59M | 74.23M | 64.95M | 35.29M | 43.99M | 35.56M | 29.8M | 27.53M | 29.14M | 27.94M | 26.61M | 28.07M | 30.7M | 46.9M | 37.5M |
| Total Non-Current Assets | 85.04M | 84.96M | 3.69B | 3.53B | 3.33B | 3.01B | 2.94B | 2.76B | 2.59B | 2.39B | 2.2B | 1.99B | 1.8B | 1.66B | 1.49B | 1.36B | 1.87B | 1.77B | 1.6B | 1.55B | 1.48B | 1.48B | 1.35B | 1.35B | 1.24B | 1.12B | 1.05B | 973.03M | 908.3M | 784.7M | 615.1M |
| Total Assets | 4.52B | 4.45B | 4.31B | 4.17B | 3.97B | 4.03B | 3.69B | 3.18B | 2.99B | 2.76B | 2.61B | 2.45B | 2.22B | 2.16B | 2.02B | 1.96B | 1.91B | 1.84B | 1.67B | 1.58B | 1.52B | 1.52B | 1.38B | 1.37B | 1.27B | 1.15B | 1.08B | 1B | 939M | 831.6M | 652.6M |
| Asset Growth % | 12.88% | 3.24% | 3.27% | 5.05% | -1.45% | 9.2% | 15.84% | 6.56% | 8.25% | 5.96% | 6.5% | 10.32% | 2.48% | 6.97% | 3.06% | 2.85% | 3.62% | 10.6% | 5.06% | 4.25% | 0.04% | 10.28% | 0.29% | 8.06% | 10.46% | 6.44% | 8.02% | 6.61% | 12.91% | 27.43% | -17.37% |
| Return on Assets (ROA) | 1.14% | 1% | 0.7% | 0.74% | 1.22% | 1.29% | 1.19% | 1.21% | 1.26% | 1.09% | 1.05% | 1.06% | 1.07% | 1.04% | 1.11% | 1.13% | 1.17% | 1.24% | 1.26% | 1.12% | 1.11% | 1.29% | 1.42% | 1.43% | 1.56% | 1.42% | 1.31% | 1.33% | 1.33% | 1.48% | 2.81% |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 584K | 1.15M | 1.96M | 2.26M | 2.97M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Debt | 34.11M | 29.19M | 33.6M | 71.57M | 106.92M | 70.17M | 87.7M | 366.35M | 587.66M | 349.97M | 356.84M | 262.17M | 90.42M | 116.55M | 120.68M | 170.29M | 203.21M | 233.91M | 239.96M | 233.72M | 240.89M | 220.05M | 213.98M | 205.94M | 198.5M | 157.65M | 127.9M | 206.02M | 69.1M | 24.7M | 22.7M |
| Net Debt | 5.01M | 62K | -120.94M | -70.97M | 42.26M | -387.53M | -293.29M | 296.13M | 503.42M | 277.13M | 299.48M | 211.1M | 44.13M | 66.57M | 71.85M | 126.56M | 172.13M | 166.79M | 181.62M | 198.43M | 196.9M | 184.5M | 184.17M | 178.41M | 169.36M | 129.7M | 101.28M | 177.95M | 38.4M | -22.2M | -14.8M |
| Long-Term Debt | 24.27M | 24.27M | 28.6M | 46.5M | 74.8M | 65M | 65M | 180M | 299M | 180M | 198M | 157M | 30M | 40M | 79M | 102M | 150M | 160M | 180M | 180M | 145M | 177M | 170M | 165M | 5M | 5M | 0 | 85M | 45M | 0 | 0 |
| Short-Term Debt | 1.15M | 0 | 0 | 20M | 27M | 0 | 17.49M | 181.1M | 288.66M | 169.97M | 158.84M | 105.17M | 60.42M | 76.55M | 41.68M | 68.29M | 53.21M | 73.91M | 59.96M | 53.72M | 95.89M | 43.05M | 43.98M | 40.94M | 193.5M | 152.65M | 127.9M | 121.02M | 24.1M | 24.7M | 22.7M |
| Other Liabilities | 4.05B | 3.26B | 43.91M | 30.96M | 10.69M | 36.1M | 31.82M | -99.86M | -214.49M | -84.22M | -100.99M | -60.38M | 23.13M | 12.66M | -5.45M | -19.19M | 16.9M | 21.08M | 21.3M | 24.67M | -25.2M | 16.36M | 13.66M | 15.5M | 13.51M | 16.36M | 13.75M | -72.4M | 17.2M | 12.1M | 13.9M |
| Total Current Liabilities | 1.15M | 722.37M | 3.83B | 3.71B | 3.53B | 3.55B | 3.25B | 2.8B | 2.63B | 2.42B | 2.28B | 2.14B | 1.96B | 1.92B | 1.77B | 1.71B | 1.59B | 1.52B | 1.34B | 1.26B | 1.28B | 1.21B | 1.08B | 1.09B | 1.15B | 1.04B | 986.82M | 916.22M | 799.7M | 745.6M | 564.4M |
| Total Non-Current Liabilities | 4.08B | 3.29B | 77.52M | 82.53M | 90.61M | 106.27M | 102.03M | 85.39M | 84.51M | 95.78M | 97.01M | 96.62M | 53.13M | 52.66M | 73.55M | 82.81M | 166.9M | 181.08M | 201.3M | 204.67M | 119.8M | 193.37M | 183.66M | 180.5M | 18.51M | 21.36M | 13.75M | 12.6M | 62.2M | 12.1M | 13.9M |
| Total Liabilities | 4.08B | 4.01B | 3.91B | 3.79B | 3.62B | 3.66B | 3.35B | 2.88B | 2.72B | 2.51B | 2.37B | 2.23B | 2.02B | 1.97B | 1.85B | 1.8B | 1.76B | 1.7B | 1.54B | 1.46B | 1.4B | 1.4B | 1.26B | 1.27B | 1.17B | 1.06B | 1B | 928.82M | 861.9M | 757.7M | 578.3M |
| Total Equity | 440.14M | 431.85M | 400.9M | 379.77M | 353.54M | 371.19M | 334.39M | 301.73M | 269.58M | 249.6M | 232.85M | 213.97M | 200.93M | 192.15M | 175.82M | 166.38M | 152.26M | 140.82M | 125.8M | 122.26M | 118.13M | 117.42M | 118.03M | 105.86M | 101.4M | 91.5M | 80.78M | 77.29M | 77.1M | 73.9M | 74.3M |
| Equity Growth % | 29.41% | 7.72% | 5.56% | 7.42% | -4.75% | 11% | 10.83% | 11.92% | 8.01% | 7.19% | 8.82% | 6.49% | 4.57% | 9.29% | 5.67% | 9.28% | 8.12% | 11.94% | 2.9% | 3.49% | 0.6% | -0.52% | 11.49% | 4.4% | 10.82% | 13.27% | 4.52% | 0.24% | 4.33% | -0.54% | 10.07% |
| Equity / Assets (Capital Ratio) | 9.73% | 9.71% | 9.31% | 9.11% | 8.91% | 9.22% | 9.07% | 9.48% | 9.02% | 9.04% | 8.94% | 8.75% | 9.06% | 8.88% | 8.69% | 8.48% | 7.98% | 7.65% | 7.56% | 7.71% | 7.77% | 7.73% | 8.57% | 7.71% | 7.98% | 7.95% | 7.47% | 7.72% | 8.21% | 8.89% | 11.39% |
| Return on Equity (ROE) | 12.04% | 10.56% | 7.61% | 8.2% | 13.47% | 14.13% | 12.84% | 13.12% | 13.98% | 12.16% | 11.88% | 11.89% | 11.89% | 11.85% | 12.96% | 13.77% | 14.94% | 16.35% | 16.48% | 14.42% | 14.34% | 15.83% | 17.4% | 18.25% | 19.59% | 18.36% | 17.31% | 16.71% | 15.63% | 14.84% | 28.63% |
| Book Value per Share | 26.83 | 26.15 | 23.94 | 22.29 | 20.72 | 21.77 | 19.77 | 17.89 | 16.53 | 15.39 | 14.47 | 13.44 | 12.68 | 12.18 | 11.21 | 10.33 | 9.54 | 9.10 | 8.14 | 7.56 | 7.12 | 6.97 | 6.37 | 6.42 | 6.07 | 5.07 | 4.65 | 4.30 | 3.42 | 3.90 | 3.71 |
| Tangible BV per Share | 25.28 | 24.60 | 22.40 | 20.94 | 19.35 | 20.37 | 18.36 | 16.50 | 15.08 | 13.90 | 12.94 | 11.87 | 11.06 | 10.53 | 9.52 | 8.67 | 8.46 | 8.02 | 7.08 | 6.54 | 6.10 | 5.94 | 5.73 | 5.84 | 5.49 | 5.07 | 4.65 | 4.30 | 3.42 | 3.90 | 3.71 |
| Common Stock | 22.07M | 22.07M | 22.07M | 22.07M | 21.42M | 20.8M | 20.19M | 19.61M | 19.04M | 18.48M | 17.94M | 17.42M | 17.08M | 16.74M | 16.42M | 16.09M | 15.63M | 15.17M | 14.73M | 14.73M | 14.3M | 13.88M | 13.48M | 13.09M | 10.47M | 9.97M | 9.5M | 9.5M | 0 | 0 | 0 |
| Additional Paid-in Capital | 414.43M | 414.51M | 413.48M | 412.55M | 400.27M | 378M | 353.66M | 335.36M | 314.53M | 290.22M | 270.88M | 250.68M | 239.72M | 229.29M | 218.65M | 207.6M | 191.07M | 178.19M | 163.22M | 161.48M | 150.92M | 139.44M | 127.31M | 113.33M | 115.11M | 99.46M | 85.53M | 85.48M | 0 | 0 | 0 |
| Retained Earnings | 110.8M | 102.27M | 77.22M | 65.79M | 65.4M | 54.08M | 41.9M | 33.22M | 29.26M | 28.82M | 28.64M | 32.14M | 29.46M | 27.46M | 26.25M | 23.95M | 24.58M | 24.1M | 25.45M | 15.35M | 17.62M | 21.4M | 23.36M | 24.3M | 13.61M | 17.27M | 21.92M | 14.05M | 6.7M | 22.5M | 27M |
| Accumulated OCI | -4.76M | -4.04M | -18.45M | -33.42M | -49.66M | 347K | -816K | -6.36M | -13.81M | -8.51M | -6.83M | -7.97M | -7.17M | -4.37M | -8.46M | -6.7M | -6.42M | -6.64M | -9.4M | -6.93M | -7.96M | -5.73M | -929K | -685K | 1.43M | -379K | -2.54M | -6.44M | 0 | 0 | 0 |
| Treasury Stock | -102.39M | -102.95M | -93.4M | -87.22M | -83.9M | -82.03M | -80.55M | -80.09M | -79.33M | -79.2M | -77.38M | -77.2M | -76.72M | -75.16M | -74.88M | -72.06M | -69.71M | -67.8M | -65.62M | -62.36M | -55.88M | -51.58M | -45.18M | -44.17M | -39.22M | -34.81M | -33.63M | -30.3M | 0 | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Regional CRE concentration risk
According to recent financial statements, Arrow Financial Corporation's total assets expanded to 4.5 billion dollars in 2026Q1, primarily supported by a 4.3 billion dollar investment securities portfolio, suggesting a strategic pivot toward liquid, interest-bearing assets rather than aggressive expansion of the core loan book.
The bank's asset composition appears heavily weighted toward securities, which may provide liquidity but potentially limits the yield upside compared to a traditional loan-heavy model. This trajectory suggests management is prioritizing balance sheet stability and regulatory compliance over rapid, risk-weighted asset growth in the current regional economic environment.
Based on reported figures, the equity-to-assets ratio has remained remarkably consistent at 0.10 as of 2026Q1, indicating that the institution maintains a stable capital buffer that appears sufficient to absorb moderate volatility in its regional commercial real estate and indirect lending portfolios.
The maintenance of a 10 percent equity-to-assets ratio suggests a conservative capital management philosophy that aligns with the bank's historical focus on dividend consistency. Investors should monitor whether this capital level remains adequate if regulatory requirements shift or if internal control remediation necessitates higher retained earnings.
As indicated by the latest quarterly data, the bank holds 4.3 billion dollars in investment securities against 4.5 billion dollars in total assets, which implies a high degree of balance sheet liquidity that could serve as a critical buffer against potential deposit outflows in the Northeast market.
This heavy reliance on securities suggests that the bank's liquidity profile is highly sensitive to interest rate fluctuations and the market value of its bond portfolio. While this provides a ready source of cash, it also exposes the bank to unrealized losses that may constrain future capital deployment if rates remain elevated.
Based on the provided balance sheet data, the concentration of 4.3 billion dollars in investment securities relative to total assets suggests a significant duration mismatch that may leave the bank vulnerable to further net interest margin compression if funding costs continue to rise.
The bank's reliance on a large securities portfolio rather than a diversified loan book may indicate an underlying sensitivity to the yield curve that is not immediately apparent in headline earnings. This structure warrants further investigation into the maturity profile of the securities, as a prolonged high-rate environment could continue to pressure the net interest margin.
Quick answers to the most common questions about buying AROW stock.
As of 2025, Arrow Financial Corporation (AROW) had total assets of $4.45B including $29.1M in current assets.
Arrow Financial Corporation (AROW) carries total debt of $29.2M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Arrow Financial Corporation (AROW) has total shareholders' equity (book value) of $431.9M ($26.15 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Arrow Financial Corporation (AROW) reported a current ratio of 0.04x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.