GLENS FALLS, N.Y. - Arrow Financial (NASDAQ:AROW) Corporation (NASDAQ:AROW), a multi-bank holding company with a market capitalization of $486 million, announced the recent appointment of four new members to its Board of Directors. According to InvestingPro data, the company has maintained and raised its dividend for 32 consecutive years, demonstrating strong financial stewardship. The appointments of James M. Dawsey, Dr. Kristine D. Duffy, Philip Morris (NYSE:PM), and Daniel J. White took effect on November 5, 2024.
James M. Dawsey, with over 45 years in construction management, brings financial and operational expertise to Arrow's board. His background includes significant experience in financial statement review and profit-and-loss oversight. Dawsey holds board positions at several financial and construction organizations, including Glens Falls National Bank and Trust Company.
Dr. Kristine D. Duffy adds over 35 years of higher education experience in New York to the board. Her administrative and leadership roles have focused on strategic planning and board governance, skills that will contribute to Arrow Financial's future direction. Duffy also serves on the boards of local banks and economic development corporations.
Philip Morris, CEO of Proctors Collaborative, offers nearly five decades of experience in cultural facilities development and has a track record of successful fundraising and strategic planning. His community engagement and project management insights are expected to benefit the board. Morris is also a member of several other boards, including economic development councils.
Daniel J. White, a Certified Public Accountant, specializes in community bank auditing and accounting. His 37-year career with KPMG LLP has equipped him with valuable financial expertise for the board. White's previous board service includes roles at Proctors Theater and economic growth organizations.
David S. DeMarco, President and CEO of Arrow Financial Corporation, expressed confidence that the new directors' diverse expertise will enhance the board's capabilities and assist in guiding the organization's growth and community service efforts.
Arrow Financial Corporation, based in northeastern New York, owns Glens Falls National Bank and Trust Company and Saratoga National Bank and Trust Company, among other subsidiaries. Trading at a P/E ratio of 15.1x, InvestingPro analysis suggests the stock is currently undervalued, with a Fair Value calculation indicating potential upside. Despite recent market volatility resulting in a 7.78% decline over the past week, the company maintains a solid financial health score. This expansion of the board is part of the company's ongoing efforts to strengthen its governance and support its strategic objectives. Want deeper insights? InvestingPro subscribers have access to over 30 additional financial metrics and exclusive analysis tools. The information is based on a press release statement and InvestingPro data.
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