ARROW FINANCIAL CORP — Director's Dealing 2013

Apr 24, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARROW FINANCIAL CORP (AROW)
CIK: 0000717538
Period of Report: 2013-04-22

Reporting Person: Murphy Thomas J. (Director, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-04-22	Common Stock	P	2500	$23.62	Acquired	18194	Direct

Footnotes

F1: The information provided reflects 112 shares acquired under the Company's ESPP since March 4, 2013. This transaction was not required to be reported on a Form 4 and is being furnished to disclose the holdings of the insider as of the date of this Form 4.