AROW FINANCIAL STATEMENTS

Arrow Financial Corporation — balance sheet, income statement and cash flow trends

AROWArrow Financial Corporation

🇺🇸 USA · NASDAQ · Financial Services · Banks - Regional

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue246.8 M $+8.8%

Gross Profit168.4 M $+24.6%

Operating Income64.6 M $+80.4%

EBITDA70.1 M $+71.0%

Net Income51.1 M $+80.3%

Peer Comparison· Banks - Regional

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
AROW	—	—	—	20.7%
TSKB	—	—	—	54.9%
NWG	—	—	—	20.1%
LLOY	—	—	—	25.9%
SKBNK	—	—	—	14.2%
ICBCT	—	—	—	24.7%
Industry median	—	67.2%	20.4%	20.6%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity440.1 M $10%
Current Liabilities1.1 M $0%
Long-term Liabilities4.1 B $90%

Key Figures

YoY change

Total Assets4.5 B $+1.6%

Total Liabilities4.1 B $+0.9%

Total Equity440.1 M $+8.8%

Cash & ST Investments29.1 M $-96.1%

Total Debt34.1 M $+1.6%

Net Debt5 M $—

Peer Comparison· Banks - Regional

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
AROW	25.33	7.8%	0.07	9.7%
TSKB	—	0.0%	-0.47	13.4%
NWG	0.25	17.0%	-14.68	5.2%
LLOY	0.12	209.8%	5.39	5.0%
SKBNK	—	0.0%	-13.41	5.9%
ICBCT	—	0.0%	-20.34	4.0%
Industry median	0.31	38.0%	-0.58	11.0%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
AROW	25.33	7.8%	0.07	9.7%
PFIS	0.43	59.8%	3.07	9.7%
WASH	—	116.6%	8.42	8.5%
FMNB	0.11	58.2%	5.38	10.7%
TCBX	0.13	24.2%	-6.27	9.9%
HIFS	70.28	292.9%	20.74	10.6%
Industry median	0.31	38.0%	-0.58	11.0%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow46.5 M $+35.9%

Capital Expenditures5.1 M $-10.5%

Free Cash Flow41.3 M $+45.2%

Dividends Paid-19.2 M $-204.0%

Peer Comparison· Banks - Regional

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
AROW	18.8%	16.7%	2.1%	90.9%
TSKB	54.9%	71.9%	17.0%	100.0%
NWG	—	—	0.0%	—
LLOY	—	—	0.0%	—
SKBNK	14.2%	31.2%	17.0%	100.0%
ICBCT	24.7%	29.9%	5.1%	100.0%
Industry median	23.6%	22.1%	1.5%	111.4%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
AROW	18.8%	16.7%	2.1%	90.9%
PFIS	18.8%	14.5%	4.3%	90.8%
WASH	20.4%	14.1%	0.8%	146.4%
FMNB	18.3%	16.6%	1.7%	90.7%
TCBX	0.4%	-3.8%	4.2%	2.4%
HIFS	16.5%	16.3%	0.1%	74.4%
Industry median	23.6%	22.1%	1.5%	111.4%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 2, 26. This content is for informational purposes only and is not investment advice.