ARROW FINL CORP

Ticker: AROW CUSIP: 042744102 Class: Common Stock

WEDGE CAPITAL MANAGEMENT L L P/NC's Holding History (CIK: 0001015308)

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

Q4 2019

Shares 31,812 Value ($000) $1,202 Avg Close $26.96 Range $24.33 - $29.31

Q3 2019

Shares 35,568 Value ($000) $1,188 Avg Close $24.53 Range $22.80 - $26.82

Q2 2019

Shares 36,743 Value ($000) $1,276 Avg Close $24.37 Range $23.21 - $25.57

Q1 2019

Shares 43,935 Value ($000) $1,445 Avg Close $24.34 Range $21.94 - $26.11

Q4 2018

Shares 36,135 Value ($000) $1,157 Avg Close $24.66 Range $21.93 - $26.85

Q3 2018

Shares 36,380 Value ($000) $1,346 Avg Close $26.79 Range $25.00 - $27.68

Q2 2018

Shares 36,283 Value ($000) $1,321 Avg Close $24.88 Range $22.50 - $26.27

Q1 2018

Shares 36,422 Value ($000) $1,237 Avg Close $22.92 Range $20.95 - $24.18

Q4 2017

Shares 35,565 Value ($000) $1,207 Avg Close $23.87 Range $22.63 - $26.07

Q3 2017

Shares 35,835 Value ($000) $1,231 Avg Close $21.16 Range $19.97 - $23.64

Q2 2017

Shares 35,820 Value ($000) $1,134 Avg Close $21.41 Range $20.20 - $23.24

Q1 2017

Shares 33,120 Value ($000) $1,123 Avg Close $22.95 Range $21.15 - $26.25

Q4 2016

Shares 32,920 Value ($000) $1,333 Avg Close $23.03 Range $19.47 - $26.73

Q3 2016

Shares 39,142 Value ($000) $1,285 Avg Close $20.22 Range $18.63 - $21.71

Q2 2016

Shares 37,498 Value ($000) $1,136 Avg Close $17.85 Range $16.24 - $19.22

Q1 2016

Shares 31,062 Value ($000) $825 Avg Close $16.47 Range $15.23 - $17.09

Q4 2015

Shares 32,762 Value ($000) $890 Avg Close $17.17 Range $15.88 - $18.15

Q3 2015

Shares 36,962 Value ($000) $987 Avg Close $16.41 Range $15.89 - $17.07

Q2 2015

Shares 36,240 Value ($000) $980 Avg Close $15.75 Range $14.97 - $16.58

Q1 2015

Shares 36,240 Value ($000) $984 Avg Close $15.65 Range $14.99 - $16.24

Q4 2014

Shares 36,240 Value ($000) $996 Avg Close $15.39 Range $14.58 - $16.22

Q3 2014

Shares 37,739 Value ($000) $946 Avg Close $14.75 Range $14.28 - $15.29

Q2 2014

Shares 38,100 Value ($000) $988 Avg Close $14.44 Range $13.86 - $15.08

Q1 2014

Shares 38,800 Value ($000) $1,026 Avg Close $14.37 Range $13.56 - $15.35

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2019	31,812	$1,202	$26.96	$24.33 - $29.31
Q3 2019	35,568	$1,188	$24.53	$22.80 - $26.82
Q2 2019	36,743	$1,276	$24.37	$23.21 - $25.57
Q1 2019	43,935	$1,445	$24.34	$21.94 - $26.11
Q4 2018	36,135	$1,157	$24.66	$21.93 - $26.85
Q3 2018	36,380	$1,346	$26.79	$25.00 - $27.68
Q2 2018	36,283	$1,321	$24.88	$22.50 - $26.27
Q1 2018	36,422	$1,237	$22.92	$20.95 - $24.18
Q4 2017	35,565	$1,207	$23.87	$22.63 - $26.07
Q3 2017	35,835	$1,231	$21.16	$19.97 - $23.64
Q2 2017	35,820	$1,134	$21.41	$20.20 - $23.24
Q1 2017	33,120	$1,123	$22.95	$21.15 - $26.25
Q4 2016	32,920	$1,333	$23.03	$19.47 - $26.73
Q3 2016	39,142	$1,285	$20.22	$18.63 - $21.71
Q2 2016	37,498	$1,136	$17.85	$16.24 - $19.22
Q1 2016	31,062	$825	$16.47	$15.23 - $17.09
Q4 2015	32,762	$890	$17.17	$15.88 - $18.15
Q3 2015	36,962	$987	$16.41	$15.89 - $17.07
Q2 2015	36,240	$980	$15.75	$14.97 - $16.58
Q1 2015	36,240	$984	$15.65	$14.99 - $16.24
Q4 2014	36,240	$996	$15.39	$14.58 - $16.22
Q3 2014	37,739	$946	$14.75	$14.28 - $15.29
Q2 2014	38,100	$988	$14.44	$13.86 - $15.08
Q1 2014	38,800	$1,026	$14.37	$13.56 - $15.35