This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Arrow Financial Ranked One Of Nation's Top 10 Community Banks

GLENS FALLS, N.Y., Aug. 10 /PRNewswire-FirstCall/ -- A national review of more than one thousand community banks rated Arrow Financial Corporation (Nasdaq: AROW) as the eighth-best community bank in the United States.  The review, conducted by SNL Financial and reported in the June 2010 publication of the US Banker, ranked 1,175 community banks that were actively traded or registered with the U. S. Security and Exchange Commission and having less than $2 billion in assets – by their average return on equity (ROE) over the 3 years ending December 31, 2009.  

The US Banker article listed the top 200 performers.  Arrow's 3-year average ROE of 15.70% led to its #8 ranking.  The magazine noted "banks with ROEs of 13 percent or better are stars."  No other community bank with assets less than $2 billion in Upstate New York was ranked in the top ten.  [The next highest rank received by a community bank headquartered in the greater Albany Capital Region was #86.]  

The stellar ranking reflects the consistent record of Arrow — which operates both Glens Falls National Bank & Trust Company and Saratoga National Bank & Trust Company — as a high-performing and well-managed banking company.  

"We are very pleased to be recognized in this elite group, especially when it is based on return-on-equity over a three-year period, not just one year," said Thomas L. Hoy, Arrow's Chairman, President and CEO.

Arrow reported record earnings for 2009 of $21.8 million. This achievement was particularly significant as it was attained during a broad, national economic slowdown that created hardships for many banks around the country.  2009 saw the highest failure rate for financial institutions in 15 years, due in large part to the collapse of subprime or poor quality mortgage loans resulting from the sharp decline in home values across the country.

Arrow has built a solid balance sheet based upon prudent lending to customers and businesses, and has not participated in high-risk lending programs.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
AROW $27.18 0.11%
AAPL $124.19 -0.19%
FB $81.40 -0.99%
GOOG $542.05 -1.10%
TSLA $188.60 -0.09%


DOW 17,698.68 -77.44 -0.44%
S&P 500 2,060.93 -6.96 -0.34%
NASDAQ 4,873.8690 -27.0160 -0.55%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs