Arrow Financial board approves $5M stock buyback
GLENS FALLS, N.Y. (AP) — Arrow Financial Corp. said Thursday that its board approved a new stock buyback program authorizing the repurchase of up to $5 million of the bank holding company's common stock.
The buyback will happen over a 12-month period starting Jan. 1 and will replace the existing $5 million buyback program approved a year ago that expires at the end of this year.
As of Wednesday, Arrow had repurchased about $3.3 million of common stock under the existing program.
Arrow shares rose 18 cents to $24.41 in afternoon trading.