Arrow Financial Announces New $5 Mln Stock Buyback Program

(RTTNews) - Arrow Financial Corp. (AROW) said Thursday that its Board of Directors has approved a new stock repurchase program authorizing the repurchase, at the discretion of senior management, of up to $5 million of the company's common stock over the twelve-month period starting January 1, 2014, in open market or negotiated transactions.

The new repurchase program will replace the existing $5 million repurchase program authorized on November 28, 2012, which expires December 31, 2013.

Through November 20, 2013, the company had repurchased about $1.2 million of company common stock under the existing program.