Arrow Financial enters professional services agreement with former executive

Arrow Financial Corporation (NASDAQ:AROW), a $461 million regional bank with a solid track record of profitability and dividend payments, has entered into a six-month professional services agreement with David D. Kaiser, its former Senior Executive Vice President and Chief Credit Officer. The agreement, effective Tuesday, was disclosed in a recent filing with the Securities and Exchange Commission.

Kaiser, who retired and relinquished all positions with Arrow Financial and its subsidiaries effective June 30, 2025, will provide professional services as directed by the company’s Chief Executive Officer. Under the terms of the agreement, Kaiser will receive compensation of $2,500 per month, along with reimbursement for approved out-of-pocket expenses.

The agreement allows either party to terminate the arrangement without liability, provided 30 days’ prior written notice is given, subject to certain exceptions.

This information is based on a press release statement included in the SEC filing. Arrow Financial Corporation’s common stock is listed on the NASDAQ Global Select Market under the symbol AROW.

In other recent news, Arrow Financial Corp held its 2025 Annual Meeting of Shareholders, where several important resolutions were passed. Shareholders participated virtually, representing 77.06% of the company’s outstanding shares. Key decisions included the election of six directors with terms ranging from 2026 to 2028 and the approval of the company’s 2024 executive compensation package. Additionally, Crowe LLP was ratified as the independent auditor for the fiscal year ending December 31, 2025. In another development, Arrow Financial announced the retirement of Chief Credit Officer David D. Kaiser, effective June 30, 2025. Kaiser’s departure concludes a 24-year tenure during which he significantly contributed to the company’s credit culture. Arrow Financial plans to distribute Kaiser’s responsibilities among a team of seasoned executives, each with over 25 years of experience. The company has expressed confidence in a smooth transition, though it acknowledges potential challenges in maintaining credit oversight effectiveness.

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