Exhibit 15
December 7, 2023
Arrow Financial Corporation
Glens Falls, New York
Re: Registration Statement on Form S-8 related to the Arrow Financial Corporation 2023 Directors’ Stock Plan
With respect to the subject registration statement, we acknowledge our awareness of the use therein of our report dated November 9, 2023 related to our review of interim financial information.
Pursuant to Rule 436 under the Securities Act of 1933 (the Act), such report is 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.
/s/ KPMG LLP
Albany, New York
