Arrow Announces Increase in Cash Dividend

Apr 27, 2001, 01:00 ET from Arrow Financial Corporation

    GLENS FALLS, N.Y., April 27 /PRNewswire/ -- The Board of Directors of
 Arrow Financial Corporation (Nasdaq:   AROW) have declared a quarterly cash
 dividend of $.23 per share payable June 15, 2001 to shareholders of record on
 June 1, 2001.  This represents a 15% increase over the cash dividend paid
 during the second quarter of 2000 and an increase of 9.5% over the previous
 quarter's cash dividend.
     Arrow recently announced net income for the first quarter 2001 of
 $3.5 million, representing diluted earnings per share of $.48, or 11.6% above
 the diluted per share amount of $.43 earned in the first quarter of 2000, when
 net income was $3.2 million.
     Arrow Financial Corporation is a multi-bank holding company headquartered
 in Glens Falls, New York, with 25 banking locations in upstate New York.
 Arrow Financial Corporation is the parent of Glens Falls National Bank and
 Trust Company and Saratoga National Bank and Trust Company.
 
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SOURCE Arrow Financial Corporation
    GLENS FALLS, N.Y., April 27 /PRNewswire/ -- The Board of Directors of
 Arrow Financial Corporation (Nasdaq:   AROW) have declared a quarterly cash
 dividend of $.23 per share payable June 15, 2001 to shareholders of record on
 June 1, 2001.  This represents a 15% increase over the cash dividend paid
 during the second quarter of 2000 and an increase of 9.5% over the previous
 quarter's cash dividend.
     Arrow recently announced net income for the first quarter 2001 of
 $3.5 million, representing diluted earnings per share of $.48, or 11.6% above
 the diluted per share amount of $.43 earned in the first quarter of 2000, when
 net income was $3.2 million.
     Arrow Financial Corporation is a multi-bank holding company headquartered
 in Glens Falls, New York, with 25 banking locations in upstate New York.
 Arrow Financial Corporation is the parent of Glens Falls National Bank and
 Trust Company and Saratoga National Bank and Trust Company.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X63636484
 
 SOURCE  Arrow Financial Corporation