Arrow Financial Corporation

Climate Impact & Sustainability Data (2022, 2023)

Incorporated energy-saving features into the renovation of our branches, such as interior and exterior LED lighting and energy-efficient plumbing in 40% of our branch network
Incorporated environmentally friendly attributes into our Glens Falls, New York, headquarters renovation
Installed solar panels at 20 South Street, part of our corporate headquarters
Installed electric vehicle charging stations at our SNB Main Office
Reduced emissions via remote work and video conferencing
Provided and encouraged digital banking options and paperless statements
Expanded our philanthropic support of environmental sustainability in our community

More than $675,000 and 9,395 hours donated to our communities in 2022
Extensive pandemic-related support to customers in need
Bank On-certified checking product for the unbanked or underbanked population
Partnership with numerous organizations to meet the financial needs of the low- to moderate-income population
Annual engagement with a third party to assess diversity within our employee base
Professional development, wellness and mental health services to our employees
Three consecutive years of special bonuses for all employees
Incorporation of inclusion and belonging into our human resources policies
Encouraged and facilitated employee giving

Incorporated energy-saving features into the renovation of 60% of its branch network (LED lighting, energy-efficient plumbing)
Incorporated environmentally friendly attributes into its Glens Falls headquarters renovation (motion-activated lighting, improved insulation, energy-efficient systems, low-VOC materials, green roof plantings)
Installed solar panels at part of its corporate headquarters
Reduced emissions via remote work and video conferencing
Installed electric vehicle charging stations at its SNB Main Office

Annual engagement with a diversity and inclusion consultant to assess diversity and support goal setting for minority advancement
Provided professional development, wellness, and mental health services to employees
Facilitated employee giving, resulting in over $103,000 in donations
Incorporated inclusion and belonging into HR policies and programs
Donated nearly $3 million in giving in the last five years and more than 31,000 hours served in the last four years
Donated more than $781,000, including more than $103,000 from employee donations, and employees logged nearly 11,200 volunteer hours in 2023

Longstanding dedication to diversity on the Board of Directors, exceeding NASDAQ requirements
Both GFNB and SNB maintained their Bauer Financial 5-Star ratings for consecutive years
Adopted a new Clawback Policy compliant with SEC and Nasdaq rules
Strong cybersecurity protections and training
Strong dedication to information security and data privacy
Majority independent Directors
Diverse Board of Directors with strong risk oversight
Competitive and equitable compensation practices
Benchmarking and third-party consultation with respect to compensation decisions

Changing interest rate environment and wider economic uncertainty
Previously reported weaknesses in internal control environment (leading to delayed 2022 10-K and 2023 Q1 10-Q filings)