David S. DeMarco is the current CEO of Arrow Financial Corporation, a role he has embraced since mid-2023. Born in 1962, he brings a wealth of experience in finance to the company. Recently, the Board of Directors appointed him as a Class B member, further integrating him into the leadership team. His tenure marks a focus on aligning compensation with successful performance metrics, including net operating earnings and return on equity. In 2023, his total compensation reached approximately $943,532, with a significant jump in his base salary to $695,000 following a new employment agreement effective in early 2024. This reflects the company's trust in his leadership abilities. DeMarco’s path to the CEO role included being the President and CEO of the Saratoga National Bank, underscoring his long-standing commitment to the financial industry. He has also had a history of substantial insider trading activity, with notable holdings that peaked at over $1 million in early 2021, showing active engagement in the company's growth. He is dedicated to ensuring that Arrow Financial continues to navigate challenges in the banking landscape.

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David S. DeMarco

CEO of Arrow Financial

Education

Not specified

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Financial Services

Born

January 1, 1962 - 63 years ago

CEO of Arrow Financial for

1 year 11 months (May 2023 - Present)

Previous Experience

Chief Banking Officer and Senior Executive Vice President at Arrow Financial Corp.

Rivals

Competitors/colleagues of David S. DeMarco

Van A. Dukeman

CEO of First Busey Corporation

2023 Compensation

Stock

$0.00

Salary

$725.00K

Bonus

$561.88K

Other

$51.10K

Total Holdings

$9.87M

Christopher J. McComish

CEO of S&T Bancorp

2023 Compensation

Stock

$150.00K

Salary

$350.00K

Bonus

$70.00K

Other

$20.00K

Total Holdings

$715.40K

Anthony Labozzetta

CEO of Provident Financial Services

2023 Compensation

Stock

$61.82K

Salary

$818.27K

Bonus

$309.38K

Other

$121.55K

Total Holdings

$8.84M

David L. Trautman

CEO of Park National

2023 Compensation

Stock

$552.75K

Salary

$750.00K

Bonus

$364.00K

Other

$103.40K

Total Holdings

$12.21M

Gary R. Mills

CEO of First Community Bankshares

2020 Compensation

Stock

$155.97K

Salary

$567.00K

Bonus

$265.78K

Other

$81.92K

Total Holdings

$1.58M

Holdings

See how much did David S. DeMarco make over time.

David S. DeMarco's stock holdings have seen significant changes over the years. In early 2021, his investments peaked at approximately $1.09 million, demonstrating a strong commitment to Arrow Financial. However, as of late 2023, these holdings have fluctuated with values around $930,000, representing a decline from his peak investments. Throughout 2022 and 2023, his holdings showed consistent monthly variations, most recently reported at around $581,000 in September 2023, reflecting the nature of stock trading in the financial sector. This range indicates an ongoing strategy of maintaining substantial equity in the company while adjusting to market conditions.

Total Stock Sold

$1.15M

AROW

$1.15M

45,024.39 AROW shares

What if they kept their stock?

If David S. DeMarco didn't sell their stock, today they would have:
Extra AROW45,024.39 shares worth $1.03M.
This is -10.79% and $124.15K less than what they got when they sold the stock.

Insider Trading

See recent insider trades of David S. DeMarco.

AROW

4,111 shares

AROW

May 29, 2024

Received

AROW

$6.01K

AROW at $34.35/share

Aug 22, 2022

Sale

AROW

$204.69K

AROW at $35.31/share

Apr 29, 2021

Sale

AROW

$42.36K

AROW at $30.00/share

Dec 3, 2020

Sale

AROW

$137.18K

AROW at $29.82/share

Nov 20, 2020

Sale

AROW

$9.06K

AROW at $36.26/share

Nov 20, 2019

Sale

AROW

$32.18K

AROW at $32.50/share

Sep 5, 2019

Sale

AROW

$91.10K

AROW at $32.50/share

Aug 30, 2019

Sale

AROW

$3.25K

AROW at $32.50/share

Aug 29, 2019

Sale

AROW

$59.14K

AROW at $33.00/share

Aug 8, 2019

Sale

Compensation History

See how much did David S. DeMarco make over time.

In 2023, David S. DeMarco's total compensation amounted to approximately $943,532. His base salary, after a recent adjustment, has increased to $695,000 as part of a new three-year employment agreement that emphasizes both his role and the company's priorities. Alongside this base salary, he received a bonus of $215,625, which reflects his performance and that of the company during the fiscal year. This bonus is based on achieving specific performance results, aligning his interests with the company's success. Additionally, he was awarded 5,000 stock options worth nearly $50,000, which will vest over a four-year period. With other forms of compensation included, such as contributions to executive retirement plans and benefits, his package reflects a strong emphasis on retention and long-term growth within the company instead of focusing just on immediate financials.

Year

2023

Total Compensation

$864.94K

Salary

$575.00K

Board Justification

The compensation philosophy emphasizes alignment with company performance, peer benchmarking, and retention strategies, focusing on long-term profitability within acceptable risk parameters.

Bonus

$215.63K

Board Justification

The bonus is based on the achievement of specified Company and individual performance results for fiscal year 2023, with actual payouts at 75% of target.

Other

$34.30K

Board Justification

Includes company contributions to ESOP, life insurance, and perquisites such as country club membership and personal use of a company vehicle.

Restricted Stock

$40.01K(5K stock options)

Board Justification

5,000 stock options were granted in February 2023, vesting ratably over four years, with a fair value of $40,100.

Performance Metrics

Performance metrics include net operating earnings, return on equity, efficiency ratio, non-performing loans, and net charge-offs.

Other Arrow Financial CEOs

Here are other CEOs of Arrow Financial

Thomas J. Murphy

Ex-CEO of Arrow Financial

December 2012 - May 2023