Arrow Financial Corporation reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, the company reported net interest income of $17,279,000 against $15,921,000 a year ago, due primarily to an increase in the average level of interest-earning assets between the periods and a decrease in its cost of funds. Income before provision for income taxes was $9,259,000 against $9,241,000 a year ago. Net income was $6,569,000 against $6,369,000 a year ago. Diluted earnings per share were $0.51 against $0.49 per share a year ago. Return on average assets was 1.07% against 1.12% a year ago. Return on average equity was 12.22% against 12.47% a year ago. Book value per share was $16.54 against $15.61 per share a year ago. Tangible book value per share was $14.61 against $13.62 per share a year ago. Total interest and dividend income was $18,510,000 against $17,140,000 a year ago.

For the year, the company reported net interest income of $65,925,000 against $61,094,000 a year ago. Income before provision for income taxes was $35,272,000 against $33,534,000 a year ago. Net income was $24,662,000 against $23,360,000 a year ago. Diluted earnings per share were $1.91 against $1.81 per share a year ago. Total interest and dividend income was $70,738,000 against $66,861,000 a year ago.

For the fourth quarter ended December 31, 2015, the company recorded net loans charged-off amounting $201,000 against $164,000 a year ago.