The Board of Directors of Arrow Financial Corporation (NasdaqGS - AROW) on January 27, 2021, declared a quarterly cash dividend of $0.26 per share payable March 15, 2021, to shareholders of record March 2, 2021. This represents an increase of 3% over the cash dividend paid in the first quarter of 2020, as a result of the 3% stock dividend distributed September 25, 2020.

The Board also approved a new stock repurchase program authorizing the repurchase, at the discretion of senior management, of up to $5 million of the Company's common stock for the period January 27, 2021, through December 31, 2021, in open market or negotiated transactions. This new repurchase program replaces all prior authorizations.

Arrow Financial Corporation (NasdaqGS® - AROW) is a multi-bank holding company headquartered in Glens Falls, New York, 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., and Upstate Agency, LLC, specializing in property and casualty insurance and group health and employee benefits.