On April 26, 2017, Arrow Financial Corporation issued a press release announcing that the Board of Directors had declared a quarterly cash dividend of $0.25 per share payable June 15, 2017 to shareholders of record June 2, 2017. A copy of this press release is furnished as Exhibit 99 to this report on Form 8-K.

Item 9.01. Financial Statements and Exhibits

Exhibit No. Description

Exhibit 99 Arrow Financial Corporation Press Release dated April 26, 2017

About ARROW FINANCIAL CORPORATION (NASDAQ:AROW)

Arrow Financial Corporation (Arrow) is a bank holding company. The Company’s banking subsidiaries are Glens Falls National Bank and Trust Company (Glens Falls National) and Saratoga National Bank and Trust Company (Saratoga National). It operates in community banking industry segment. The Company’s business consists primarily of the ownership, supervision and control of its approximately two banks. It provides advisory and administrative services and coordinates the general policies and operation of the banks. The Company offers a range of commercial and consumer banking, and financial products. Its deposit base consists of deposits derived from the communities it serves. Through its banks’ trust operations, the Company provides retirement planning, trust and estate administration services for individuals, and pension, profit-sharing and employee benefit plan administration for corporations.

ARROW FINANCIAL CORPORATION (NASDAQ:AROW) Recent Trading Information

ARROW FINANCIAL CORPORATION (NASDAQ:AROW) closed its last trading session 00.00 at 35.70 with 24,632 shares trading hands.