<SEC-DOCUMENT>0001463247-24-000016.txt : 20240814
<SEC-HEADER>0001463247-24-000016.hdr.sgml : 20240814
<ACCEPTANCE-DATETIME>20240814130233
ACCESSION NUMBER:		0001463247-24-000016
CONFORMED SUBMISSION TYPE:	144
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240814
DATE AS OF CHANGE:		20240814

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ARROW FINANCIAL CORP
		CENTRAL INDEX KEY:			0000717538
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		ORGANIZATION NAME:           	02 Finance
		IRS NUMBER:				222448962
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		144
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	000-12507
		FILM NUMBER:		241205988

	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

REPORTING-OWNER:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			O'Conor Raymond F
		CENTRAL INDEX KEY:			0001463247
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		144

	MAIL ADDRESS:	
		STREET 1:		7 ROLLING GREEN DRIVE
		CITY:			WILTON
		STATE:			NY
		ZIP:			12831
</SEC-HEADER>
<DOCUMENT>
<TYPE>144
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/ownership" xmlns:com="http://www.sec.gov/edgar/common">
  <!-- Generated by Workiva -->
  <headerData>
    <submissionType>144</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001463247</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <issuerInfo>
      <issuerCik>0000717538</issuerCik>
      <issuerName>Arrow Financial Corporation</issuerName>
      <secFileNumber>000-12507</secFileNumber>
      <issuerAddress>
        <com:street1>250 Glen Street</com:street1>
        <com:city>Glens Falls</com:city>
        <com:stateOrCountry>NY</com:stateOrCountry>
        <com:zipCode>12801</com:zipCode>
      </issuerAddress>
      <issuerContactPhone>518-745-1000</issuerContactPhone>
      <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>Raymond F. O'Conor</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
      <relationshipsToIssuer>
        <relationshipToIssuer>Director</relationshipToIssuer>
      </relationshipsToIssuer>
    </issuerInfo>
    <securitiesInformation>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <brokerOrMarketmakerDetails>
        <name>CAPIS</name>
        <address>
          <com:street1>1700 Pacific Avenue,</com:street1>
          <com:street2>Suite1100</com:street2>
          <com:city>Dallas</com:city>
          <com:stateOrCountry>TX</com:stateOrCountry>
          <com:zipCode>75201</com:zipCode>
        </address>
      </brokerOrMarketmakerDetails>
      <noOfUnitsSold>2000</noOfUnitsSold>
      <aggregateMarketValue>55500</aggregateMarketValue>
      <noOfUnitsOutstanding>16732668</noOfUnitsOutstanding>
      <approxSaleDate>08/15/2024</approxSaleDate>
      <securitiesExchangeName>NASDAQ</securitiesExchangeName>
    </securitiesInformation>
    <securitiesToBeSold>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <acquiredDate>01/01/1933</acquiredDate>
      <natureOfAcquisitionTransaction>Stock has been acquired over 40+ year career via Director compensation, stock options, DRIP and stock dividends.</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Open market or issuances from Treasury Stock</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>2000</amountOfSecuritiesAcquired>
      <paymentDate>01/01/1933</paymentDate>
      <natureOfPayment>Various - compensation, stock option exercises, stock dividends, dividend reinvestments, etc.</natureOfPayment>
    </securitiesToBeSold>
    <nothingToReportFlagOnSecuritiesSoldInPast3Months>Y</nothingToReportFlagOnSecuritiesSoldInPast3Months>
    <noticeSignature>
      <noticeDate>08/14/2024</noticeDate>
      <planAdoptionDates>
        <planAdoptionDate>05/13/2024</planAdoptionDate>
      </planAdoptionDates>
      <signature>Penko Ivanov</signature>
    </noticeSignature>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
