Arrow Financial Corp. announced
operating results for the three- and six-month
periods ended June 30, showing a
net income for the second quarter of 2014
of $5.5 million, an increase of $317,000,
or 6.1 percent, from net income of $5.2
million for the second quarter of 2013.
Officials said diluted earnings per
share for the quarter was $0.45, a 7.1
percent increase from the comparable
2013 quarter, when it was $0.42. Return on
average assets for the 2014 second quarter
was 1.01 percent, and return on average
equity for the 2014 second quarter was
11.28 percent.
Net income for the first six months of
2014 was $10.8 million, an increase of
$456,000 or 4.4 percent, from net income
of $10.4 million for the first six months
of 2013. Diluted EPS for the six-month
period was $0.88, a 3.5 percent increase
from the comparable 2013 period, when
diluted EPS was $0.85.