<SEC-DOCUMENT>0001577827-23-000006.txt : 20230302
<SEC-HEADER>0001577827-23-000006.hdr.sgml : 20230302
<ACCEPTANCE-DATETIME>20230302175920
ACCESSION NUMBER:		0001577827-23-000006
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20230221
FILED AS OF DATE:		20230302
DATE AS OF CHANGE:		20230302

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Ivanov Penko Krassimir
		CENTRAL INDEX KEY:			0001577827

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-12507
		FILM NUMBER:		23700710

	MAIL ADDRESS:	
		STREET 1:		C/O ARROW FINANCIAL CORPORATION
		STREET 2:		250 GLEN STREET
		CITY:			GLENS FALLS
		STATE:			NY
		ZIP:			12801

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ARROW FINANCIAL CORP
		CENTRAL INDEX KEY:			0000717538
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				222448962
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		250 GLEN ST
		CITY:			GLENS FALLS
		STATE:			NY
		ZIP:			12801
		BUSINESS PHONE:		5184154299

	MAIL ADDRESS:	
		STREET 1:		250 GLEN STREET
		CITY:			GLENS FALLS
		STATE:			NY
		ZIP:			12801

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ARROW BANK CORP
		DATE OF NAME CHANGE:	19900710
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>wf-form3_167779794506348.xml
<DESCRIPTION>FORM 3
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2023-02-21</periodOfReport>

    <noSecuritiesOwned>1</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000717538</issuerCik>
        <issuerName>ARROW FINANCIAL CORP</issuerName>
        <issuerTradingSymbol>AROW</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001577827</rptOwnerCik>
            <rptOwnerName>Ivanov Penko Krassimir</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>16 WHITBECK DRIVE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>QUEENSBURY</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>12804</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>EVP, Treasurer and CFO</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes></footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>Thomas J. Murphy, Attorney in Fact</signatureName>
        <signatureDate>2023-03-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
