<SEC-DOCUMENT>0002043837-25-000015.txt : 20251016
<SEC-HEADER>0002043837-25-000015.hdr.sgml : 20251016
<ACCEPTANCE-DATETIME>20251016141617
ACCESSION NUMBER:		0002043837-25-000015
CONFORMED SUBMISSION TYPE:	4/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250808
FILED AS OF DATE:		20251016
DATE AS OF CHANGE:		20251016

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Duffy Kristine D
		CENTRAL INDEX KEY:			0002043837
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-12507
		FILM NUMBER:		251397267

	MAIL ADDRESS:	
		STREET 1:		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]
		ORGANIZATION NAME:           	02 Finance
		EIN:				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>4/A
<SEQUENCE>1
<FILENAME>wk-form4a_1760638574.xml
<DESCRIPTION>FORM 4/A
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4/A</documentType>

    <periodOfReport>2025-08-08</periodOfReport>

    <dateOfOriginalSubmission>2025-10-10</dateOfOriginalSubmission>

    <notSubjectToSection16>0</notSubjectToSection16>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002043837</rptOwnerCik>
            <rptOwnerName>Duffy Kristine D</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>250 GLEN STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>GLENS FALLS</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>12801</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-10-08</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>267</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>27.31</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5129</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-08-08</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>210</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>26.53</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Held by spouse</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Quarterly Director's Retainer Payment</footnote>
        <footnote id="F2">The reporting person disclaims beneficial ownership of these securities and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for any purpose.</footnote>
    </footnotes>

    <remarks>The original Form 4 filed on October 10, 2025, is being amended to reflect a previously unreported purchase of shares.</remarks>

    <ownerSignature>
        <signatureName>Penko Ivanov, Attorney in Fact</signatureName>
        <signatureDate>2025-10-16</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
