ARROW FINL CORP

Ticker: AROW CUSIP: 042744102 Class: Common Stock

ROYCE & ASSOCIATES LP's Holding History (CIK: 0000906304)

Note: Option positions (PUT/CALL) are excluded.

Q4 2018

Shares 695 Value ($000) $22 Avg Close $24.66 Range $21.93 - $26.85

Q3 2018

Shares 704 Value ($000) $26 Avg Close $26.79 Range $25.00 - $27.68

Q2 2018

Shares 447 Value ($000) $16 Avg Close $24.88 Range $22.50 - $26.27

Q1 2018

Shares 268 Value ($000) $9 Avg Close $22.92 Range $20.95 - $24.18

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2018	695	$22	$24.66	$21.93 - $26.85
Q3 2018	704	$26	$26.79	$25.00 - $27.68
Q2 2018	447	$16	$24.88	$22.50 - $26.27
Q1 2018	268	$9	$22.92	$20.95 - $24.18