GLENS FALLS — Arrow Financial Corporation (NasdaqGS®-AROW) has reported that for the year ended December 31, 2022, that net income reached a record $49.9 million, up to 22.1% over net income of $40.8 million for 2020. For 2021, revenue increased by $10.9 million and the provision for credit losses decreased by $9 million, which was partially offset by higher operating expenses and income taxes. For the fourth quarter of 2021, net income was $10.3 million, a decrease of $2.2 million, or 17.5%, from the fourth quarter of 2020/ Diluted EPS was $3.10 for 2021, up 21.2% from $2.56 in 2020, and $0.63 for the fourth quarter of 2021, down 19.2% from $0.78 from the comparable 2020 quarter.
In financial circles, it’s referred to as tightening monetary policy. For the average American, the Federal Reserve raising interest rates has ramifications beyond the immediately visible. With the current expectations being that the Fed will likely raise its key interest rate possibly up to four times in 2022, this piece will examine the impact of higher rates.
Who would have thought that we’d be starting the third year of life in a pandemic? Certainly it has had a huge impact on the economy in the last two years, and we all look forward to its influence waning. As we enter 2022, we’d like to offer our thoughts about how we see the year playing out for the economy.
Get in shape. Save money. Get organized. Sound familiar? ‘Tis the season for examining your life and identifying ways to improve. As we are all aware, the problem is following through on our promises. This being a financial post, we will view each of those goals through the lens of your finances and propose methods to help you stick with them.
The end of another year is rapidly approaching, and just as you cross items off your checklist and prepare your home for the winter, it’s also important to complete maintenance items to prepare your finances to close-out 2021.
My wife turned to me and said, “I wouldn’t know what to do if you died.” I had just gotten off the phone with my father who was simultaneously mourning the sudden loss of his brother and trying to sort out his finances. Talk about a wakeup call. As a financial professional, I’d like to think that I’m ahead of the game regarding this sort of stuff, but her comment made me realize I could do better. I handle the family finances and as a result, had inadvertently left her in the dark as to what would happen in the worst sort of circumstances. Let’s examine a few simple things you can do to prepare your loved ones.
GLENS FALLS — The Board of Directors of Arrow Financial Corporation (NasdaqGS® – AROW) on Oct. 27, 2021, declared a quarterly cash dividend of $0.26 per share payable Dec. 15, 2021, to shareholders of record on Dec. 2, 2021. This represents an increase of 3% over the cash dividend paid in the fourth quarter of 2020, as a result of the 3% stock dividend distributed on Sept. 4, 2021. The Board of Directors of Arrow Financial Corporation (NasdaqGS® – AROW) on Oct. 27, 2021.
GLENS FALLS — Arrow Financial Corporation (NasdaqGS® – AROW) is pleased to announce it was recently named to the prestigious Piper Sandler Sm-All Stars Class of 2021, a list of 35-top performing small-cap banks and thrifts in the country.
With so much recent focus on this country’s all-too-regular debt ceiling drama, I want to spend a moment to make a proclamation: debt is not a bad thing. The caveat (as I will tell my son with his Halloween candy) is some is good, but too much can be very bad. I will even take it a step further and say, when used correctly, debt can be a very powerful tool to maximize one’s wealth. It gets a bad rap from the media and famous financial authors because it is very easy to misuse, but let’s examine with a practical lens what exactly debt represents and how it can help or hurt.
As the weather cools and the leaves turn, many of us look forward to one thing: no, not pumpkin spice everything. Football. In the game, the teams with the strongest fundamentals typically put themselves in the best spot to win. According to legendary coach Vince Lombardi, “some people try to find things in this game that don’t exist but football is only two things – blocking and tackling.” We can easily pivot to personal finance to discuss what represents the blocking and tackling in that arena.
It’s almost that magical time of year again, when seemingly every second or third commercial on television is for Medicare health insurance. That time of year when retired football players and B-list actors take to the airwaves to beseech you to call a national 1-800 number to discuss important health and financial decisions with someone you’ll never meet and never speak with again. Yes, the Medicare Annual Enrollment Period—with all its conflicting messages and confusion—is almost upon us.
GLENS FALLS — The Board of Directors of Arrow Financial Corporation declared a 3% stock dividend on Aug. 25, which will be distributed on Sept. 24, 2021.
The first image that often comes to mind when people think about long-term care is an elderly person sitting alone in a depressing nursing home. The misconceptions about what long-term care involves and peoples’ images of the most common care settings are understandable, since long-term care insurance originally started as nursing home insurance four decades ago. However, it has evolved into a much more flexible solution that allows you to receive care in a variety of settings.
In high school physics class, I learned that energy cannot be created nor destroyed, it can only be transformed. Within investments, the same principle applies to risk. To start, risk is a tricky thing to define. The financial world has settled on a measure of volatility called standard deviation. Although imperfect for a variety of reasons, standard deviation gives a quantifiable measure of how bumpy the ride has been which is a reasonable approximation for how it will be moving forward. Unfortunately, volatility is usually equated with losses. What about the opportunity cost of missed gains?