Arrow Financial Corporation Declares Cash Dividend

News provided by

Jul 27, 2011, 01:56 ET

GLENS FALLS, N.Y., July 27, 2011 /PRNewswire/ -- The Board of Directors of Arrow Financial Corporation (NasdaqGS®: AROW) on July 27, 2011 declared a quarterly cash dividend of $.25 per share payable September 15, 2011 to shareholders of record September 2, 2011. This represents an increase of 3% over the cash dividend paid in the third quarter of 2010, as a result of the September 29, 2010 3% stock dividend.

Arrow's lead banking subsidiary, Glens Falls National Bank and Trust Company recently announced that it has signed definitive agreements to acquire W. Joseph McPhillips, Inc. and McPhillips-Northern, Inc. property and casualty insurance agencies.

Arrow Financial Corporation is a multi-bank holding company headquartered in Glens Falls, NY 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., two property and casualty insurance agencies: Loomis & LaPann, Inc., Upstate Agency, LLC, and Capital Financial Group, Inc. an insurance agency specializing in the sale and servicing of group health plans.

SOURCE Arrow Financial Corporation