Arrow Financial Corporation (AROW) in Glens Falls, N.Y., said Monday that its first-quarter earnings climbed nearly 3% from the same period last year, to $5.3 million, as its loan portfolio continued to expand and asset quality remained strong.

The $2.2 billion-asset company said that total loans increased in all major loan categories and hit a record high of $1.3 billion in the quarter, up 12.5% from last year's first quarter.

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