Arrow Financial (NASDAQ: AROW) reported quarterly earnings of $0.71 per share which beat the analyst consensus estimate of $0.53 by 33.96 percent. This is a 9.23 percent increase over earnings of $0.65 per share from the same period last year. The company reported quarterly sales of $44.187 million which missed the analyst consensus estimate of $45.509 million by 2.90 percent. This is a 10.08 percent increase over sales of $40.142 million the same period last year.