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Arrow Named to Forbes "Most Trustworthy Financial Companies" List

Author: Shannon MacCue Kavanaugh/Monday, September 26, 2016/Categories: News Release

GLENS FALLS, N.Y. (Sept. 26, 2016) -- Arrow Financial Corporation (NasdaqGS® – AROW), the parent of Glens Falls National Bank and Trust Company and Saratoga National Bank and Trust Company, was recognized by Forbes as one of “America's 50 Most Trustworthy Financial Companies” for its accounting and governance practices.

This is the fifth consecutive year the Glens Falls-based company has received a “Most Trustworthy” designation from Forbes. Arrow is the only New York-based bank listed for 2016.

To create its “Most Trustworthy” list, Forbes enlisted MSCI ESG Research to evaluate nearly 700 publicly traded North American financial companies with a market cap of $250 million or more for the year ending December 2015. Factors including high-risk events, revenue and expense recognition methods, SEC actions, and bankruptcy risk were all considered as indicators of a company’s credibility.

In the article, MSCI states: “In each grouping, we highlight companies that are most transparent and reporting accurately on their financial outcomes, whether good or bad.”

The complete article can be viewed online by visiting Forbes.com and searching “Most Trustworthy.”

Arrow Financial Corporation 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.; two property and casualty insurance agencies: McPhillips Insurance Agency, which is a division of Glens Falls National Insurance Agencies, LLC, and Upstate Agency, LLC; and Capital Financial Group, Inc., an insurance agency specializing in the sale and servicing of group health plans.

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