Exhibit 15.1
The Board of Directors and Shareholders
Arrow Financial Corporation
Glens Falls, New York
Re:
Registration Statement on Form S-3 related to the Arrow Financial Corporation
Automatic Dividend Reinvestment Plan
With respect to the subject registration statement, we acknowledge our awareness of the use therein of our reports dated May 7, 2010 and August 3, 2010, related to our review of interim financial information.
Pursuant to Rule 436 under the Securities Act of 1933 (the Act), such reports are not considered part of a registration statement prepared or certified by an independent registered public accounting firm, or a report prepared or certified by an independent registered public accounting firm within the meaning of Sections 7 and 11 of the Act.
KPMG LLP
Albany, New York
August 31, 2010
