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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Arrow Financial Corporation Names Thomas J. Murphy President

Stocks in this article: AROW

GLENS FALLS, N.Y., May 31, 2012 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS®: AROW) announced today that Thomas J. Murphy, CPA, has been named by the Board of Directors to serve as President of Arrow, as well as a member of the Board of Directors, effective July 1, 2012.  Thomas L. Hoy, who currently serves as President, Chairman and Chief Executive Officer of Arrow, will continue as Chairman and CEO through the end of 2012, when Mr. Murphy will succeed Mr. Hoy as CEO of Arrow and CEO of Arrow's lead subsidiary bank, Glens Falls National Bank and Trust Company.  Mr. Hoy will continue to serve as Chairman of the Board of Arrow and Glens Falls National after December 31, 2012.   

Mr. Murphy's promotion reflects the Company's focus on ensuring strategic continuity and succession planning.  Mr. Hoy's continuing as CEO in the second half of 2012 will support a seamless transition of duties to Mr. Murphy, who will assume operating responsibilities on July 1, 2012, and overall managerial responsibility for the Company at year-end 2012, upon Mr. Hoy's retirement. 

Mr. Hoy said, "This is our Board's very well thought out plan for the future of our Company, and I am very pleased to hand over the management of our Company to such an able executive as Tom Murphy.  He has vision for the future, a solid, conservative banking philosophy, strong ties to our communities and a management style that will optimize his very experienced senior management team."

Mr. Murphy, age 53, has served as Senior Executive Vice President and as President of Glens Falls National since July 1, 2011.  He has also served as Corporate Secretary of Arrow since 2009 and Senior Trust Officer of Glens Falls National since 2010.  Mr. Murphy previously served as Senior Vice President of Glens Falls National (2008-2011) and Manager of the Personal Trust Department of Glens Falls National (2004-2011).  Mr. Murphy started with the Company in 2004.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

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