ARROW FINANCIAL CORP — Form 8-K
Filed October 29, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 58/100
What the filing says
Arrow Financial Corporation completed its acquisition of Adirondack Bancorp, Inc. on July 1, 2026, adding approximately $600 million in loans and $900 million in deposits. Q3 2026 reported net income was $5.7 million ($0.31 diluted EPS), depressed by $15.6 million in merger-related expenses ($0.66/share impact); core EPS was $0.97. Arrow issued 1.98 million shares (~12% dilution) and recognized $44.7 million in goodwill. The combined company now has $5.5 billion in assets, improved net interest margin to 3.81% (FTE), and organic loan growth of ~$60 million (6.8% annualized).
Why this rating
Material M&A for a $426M company (~25% asset growth), but temporary earnings drag and integration costs offset NIM/deposit benefits. Near-term negative, medium-term positive.
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