← ARROW FINANCIAL CORP

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income (Loss) Attributable to Parent $26.5m $29.3m $36.3m $37.5m $40.8m $49.9m $48.8m $30.1m $29.7m $44.0m
Net Income (Loss) Available to Common Stockholders, Basic ($441k) ($691k) — ($677k) — — — — — $43.8m
Depreciation and amortization $5.9m $5.4m $4.8m $5.5m $6.9m $7.8m $7.5m $6.7m $5.4m $5.4m
Amortization of Intangible Assets $557k $500k $437k $359k $332k $468k $428k $390k $455k $526k
Depreciation $1.9m $1.9m $1.9m $2.2m $3.1m $3.0m $3.3m $3.8m $4.4m $4.7m
Deferred Income Tax Expense (Benefit) ($283k) ($1.5m) ($92k) $344k ($2.2m) $945k ($1.3m) $1.8m ($789k) $193k
Share-based Payment Arrangement, Noncash Expense $287k $351k $322k $316k $301k $282k $312k $605k $314k $683k
Share-based Payment Arrangement, Expense — — $356k $391k $420k $414k $451k $284k $197k $104k
Impairment of Intangible Assets, Finite-lived $0 $0 $0 $0 $0 $0 $0 $0 $0 —
Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal — — — — — — $4.8m $3.4m $5.2m $7.3m
Gain (Loss) on Disposition of Business $0 $0 — — — — — — — —
Gain (Loss) on Disposition of Other Assets ($232k) ($210k) ($159k) ($882k) $161k ($277k) ($167k) ($187k) ($404k) ($288k)
Income Tax Expense (Benefit) $11.2m $10.5m $9.0m $9.6m $11.0m $14.5m $14.1m $7.4m $7.6m $11.4m
Changes in operating assets and liabilities:
Additional Financial Items
Increase (Decrease) in Other Operating Assets $1.6m $157k $1.2m $12.5m $2.3m $5.1m $1.4m $29.2m $8.2m $2.1m
Provision for Loan, Lease, and Other Losses $2.0m $2.7m $2.6m $2.1m — — — — — —
Increase (Decrease) in Other Operating Liabilities $1.1m $982k ($676k) $10.0m $586k $4.0m $857k $9.3m $787k $325k
Gain (Loss) on Sales of Loans, Net $821k $546k $135k $622k $3.9m $2.4m $83k $32k $209k $819k
Proceeds from Stock Options Exercised $2.4m $1.2m $2.3m $1.8m $748k $1.5m $631k $96k $433k $256k
Parent Company $13.1m $13.6m $14.4m $15.2m $15.7m $16.3m $17.4m — — —
Debt and Equity Securities, Gain (Loss) $0 $0 $213k $289k ($464k) $111k $427k ($92k) ($2.9m) $542k
Debt Securities, Available-for-sale, Realized Gain (Loss) $339k $582k $0 $0 $37k $0 $0 ($9.1m) ($3.0m) $0
Equity Securities, FV-NI, Gain (Loss) $0 $0 $213k $289k ($427k) $111k $427k $9.0m $131k $542k
Equity Securities, FV-NI, Unrealized Gain (Loss) $0 $0 $213k $289k ($427k) $111k $427k ($249k) $131k $542k
Gain (Loss) on Sale of Financing Receivable — — — — $3.9m $2.4m $83k $32k $209k $819k
Goodwill $21.9m $21.9m $21.9m $21.9m $21.9m $21.9m $21.9m $21.9m $23.8m $23.8m
Financing Receivable, Credit Loss, Expense (Reversal) — — — — $9.3m $272k — — — —
Stock or Unit Option Plan Expense — $353k $174k $180k $0 $0 — — — —
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement — — — — — — ($577k) — — —
Net Cash Provided by (Used in) Operating Activities $34.7m $37.8m $42.0m $43.9m $42.3m $68.2m $59.7m $20.6m $34.5m $41.3m
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment $1.4m $2.6m $5.1m $7.8m $5.1m $7.1m $14.2m $7.1m $5.6m $5.1m
Payments for (Proceeds from) Other Investing Activities $2.1m ($963k) $5.6m ($5.2m) ($5.0m) — — — — —
Net Cash Provided by (Used in) Investing Activities ($157.8m) ($148.6m) ($227.8m) ($192.2m) ($187.3m) ($274.6m) ($393.1m) ($82.7m) ($89.0m) ($61.5m)
Cash flows from financing activities:
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale $88.7m $53.9m $61.8m $96.1m $104.9m $118.3m $104.1m $70.4m $107.8m $124.1m
Payments for Repurchase of Common Stock $2.1m $3.2m $2.1m $2.5m $1.6m $2.7m $2.9m $3.6m $6.8m $10.2m
Payments of Ordinary Dividends, Common Stock $13.1m $13.6m $14.4m $15.2m $15.7m $16.3m $17.4m — — —
Net Cash Provided by (Used in) Financing Activities $129.4m $126.2m $197.2m $134.3m $455.8m $283.1m ($59.7m) $139.9m $66.5m $79.8m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect $6.3m $15.5m $11.4m ($14.0m) $310.8m $76.7m ($393.0m) $77.9m $12.0m $59.6m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — — $70.2m $381.0m $457.7m $64.7m $142.5m $154.5m $214.2m
Supplemental disclosure of cash flow information:
Interest Paid, Excluding Capitalized Interest, Operating Activities — — $12.2m $20.8m $13.8m $5.4m $5.8m $51.8m $84.5m $77.2m
Income Taxes Paid, Net — — — — — — — — — $18.6m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.