Arrow Financial Corp. (AROW: Quote), Wednesday, reported a slight increase in profit for the first quarter.
The Glens Falls, New York-based multi-bank holding company reported a first-quarter net profit of $5.29 million, compared to $5.28 million. On a per-share basis, earnings was flat at 45 cents.
Net interest income for the quarter dropped to $14.41 million from $14.55 million, where as net interest income after provision for loan losses decreased to $14.13 million from $14.33 million in the prior-year quarter.
For the quarter, total non-interest income rose to $6.56 million from $5.62 million in the prior-year quarter.
For the quarter, the company paid a cash dividend to its shareholders of $0.25, a 3 percent increase from the prior-year quarter.
by RTT Staff Writer
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