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Side-by-side financial comparison of ARROW FINANCIAL CORP (AROW) and First Northwest Bancorp (FNWB), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
ARROW FINANCIAL CORP is the larger business by last-quarter revenue ($27.2M vs $14.7M, roughly 1.8× First Northwest Bancorp). ARROW FINANCIAL CORP runs the higher net margin — 31.7% vs 2.6%, a 29.1% gap on every dollar of revenue. On growth, ARROW FINANCIAL CORP posted the faster year-over-year revenue change (5.4% vs 3.9%). Over the past eight quarters, First Northwest Bancorp's revenue compounded faster (2.7% CAGR vs -6.3%).
Flagstar Bank, N.A. (FLG), is an American regional financial services holding company headquartered in Hicksville, New York. In 2023, the bank operated 395 branches However, they rebranded all of these under the Flagstar name on February 21, 2024.
First Midwest Bancorp, Inc. was headquartered in Chicago, Illinois, just east of O'Hare Airport. The company's predecessor traces back to Joliet, Illinois. From there the company has grown to serve many Chicago suburbs including northwest Indiana, downstate Illinois, southeast Wisconsin and the Quad Cities area including Iowa. First Midwest Bank is one of the largest banking institutions in the United States
AROW vs FNWB — Head-to-Head
Income Statement — Q2 2024 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $27.2M | $14.7M |
| Net Profit | $8.6M | $382.0K |
| Gross Margin | — | — |
| Operating Margin | — | 6.2% |
| Net Margin | 31.7% | 2.6% |
| Revenue YoY | 5.4% | 3.9% |
| Net Profit YoY | 42.3% | 113.6% |
| EPS (diluted) | $0.52 | $0.04 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | — | $14.7M | ||
| Q3 25 | — | $14.6M | ||
| Q2 25 | — | $14.2M | ||
| Q1 25 | — | $13.8M | ||
| Q4 24 | — | $14.1M | ||
| Q3 24 | — | $14.0M | ||
| Q2 24 | $27.2M | $14.2M | ||
| Q1 24 | $26.5M | $13.9M |
| Q4 25 | — | $382.0K | ||
| Q3 25 | — | $802.0K | ||
| Q2 25 | — | $3.7M | ||
| Q1 25 | — | $-9.0M | ||
| Q4 24 | — | $-2.8M | ||
| Q3 24 | — | $-2.0M | ||
| Q2 24 | $8.6M | $-2.2M | ||
| Q1 24 | $7.7M | $396.0K |
| Q4 25 | — | 6.2% | ||
| Q3 25 | — | -1.0% | ||
| Q2 25 | — | 27.9% | ||
| Q1 25 | — | -73.4% | ||
| Q4 24 | — | -17.3% | ||
| Q3 24 | — | -22.7% | ||
| Q2 24 | — | -19.4% | ||
| Q1 24 | — | 6.1% |
| Q4 25 | — | 2.6% | ||
| Q3 25 | — | 5.5% | ||
| Q2 25 | — | 25.8% | ||
| Q1 25 | — | -65.3% | ||
| Q4 24 | — | -19.9% | ||
| Q3 24 | — | -14.1% | ||
| Q2 24 | 31.7% | -15.6% | ||
| Q1 24 | 29.0% | 2.8% |
| Q4 25 | — | $0.04 | ||
| Q3 25 | — | $0.09 | ||
| Q2 25 | — | $0.42 | ||
| Q1 25 | — | $-1.03 | ||
| Q4 24 | — | $-0.31 | ||
| Q3 24 | — | $-0.23 | ||
| Q2 24 | $0.52 | $-0.25 | ||
| Q1 24 | $0.45 | $0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $383.0M | $157.3M |
| Total Assets | $4.2B | $2.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | — | $157.3M | ||
| Q3 25 | — | $154.5M | ||
| Q2 25 | — | $149.7M | ||
| Q1 25 | — | $146.5M | ||
| Q4 24 | — | $153.9M | ||
| Q3 24 | — | $160.8M | ||
| Q2 24 | $383.0M | $158.9M | ||
| Q1 24 | $378.0M | $160.5M |
| Q4 25 | — | $2.1B | ||
| Q3 25 | — | $2.1B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | $4.2B | $2.2B | ||
| Q1 24 | $4.3B | $2.2B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $9.1M | $10.3M |
| Free Cash FlowOCF − Capex | $7.5M | — |
| FCF MarginFCF / Revenue | 27.7% | — |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | 5.8% | — |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | 1.06× | 26.94× |
| TTM Free Cash FlowTrailing 4 quarters | $9.6M | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | — | $10.3M | ||
| Q3 25 | — | $4.7M | ||
| Q2 25 | — | $4.0M | ||
| Q1 25 | — | $-21.7M | ||
| Q4 24 | — | $12.5M | ||
| Q3 24 | — | $1.2M | ||
| Q2 24 | $9.1M | $8.1M | ||
| Q1 24 | $10.3M | $-4.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $7.5M | — | ||
| Q1 24 | $9.2M | $-5.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 27.7% | — | ||
| Q1 24 | 34.8% | -35.7% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 5.8% | — | ||
| Q1 24 | 4.4% | 0.8% |
| Q4 25 | — | 26.94× | ||
| Q3 25 | — | 5.89× | ||
| Q2 25 | — | 1.08× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.06× | — | ||
| Q1 24 | 1.35× | -12.29× |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
