GLENS FALLS, N.Y., April 13, 2015 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS® – AROW) is pleased to announce that it was recently awarded the 2014 Raymond James Community Bankers Cup in recognition of its "superior financial performance."
Financial services company Raymond James evaluated 306 community banks with assets between $500 million and $10 billion based on various profitability, operational efficiency, and balance sheet metrics. The Community Bankers Cup was awarded to the top 10% for their exceptional performance during 2014, as well as over time.
Arrow ranked 25th on the final list of 31 top-performers and was one of only two New York State banks recognized.
According to Raymond James: "Though exceptional performance during the year of the award is a critical part of the criteria, the cup was also created to reward outstanding performance over a longer period of time. We believe this formula is the correct way to invest in community banks and how shareholder value is built."
Arrow Financial Corporation is a multi-bank holding company headquartered in Glens Falls, New York, serving the financial needs of northeastern New York. It 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.; three property and casualty insurance agencies: Loomis & LaPann, Inc., Upstate Agency, LLC, and McPhillips Insurance Agency, a division of Glens Falls National Insurance Agencies, LLC; and Capital Financial Group, Inc., an insurance agency specializing in the sale and servicing of group health plans.
SOURCE Arrow Financial Corporation