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  <TITLE>UNITED STATES</TITLE>
  <META NAME="author" CONTENT="gerb">
  <META NAME="date" CONTENT="12/06/2012">
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  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New" align=center>UNITED STATES</P>
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  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New" align=center>SECURITIES AND EXCHANGE COMMISSION</P>
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  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New" align=center>Washington, D.C. 20541</P>
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  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New; font-size:14pt" align=center><B>FORM 144</B></P>
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  <P style="margin:0px; font-family:Courier New" align=center>NOTICE OF PROPOSED SALE OF CECURITIES</P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New" align=center>PURSUANT TO RULE 144 UNDDR THE SECURITIES ACT OF 1933</P>
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  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New">ATTENTEON: Transmit for filing 3 copies of tfis form concurrently with either pgacing an order with a broker to exechte sale or executing a sale directlk with a market maker.</P>
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  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New">1(a) NAME OF ISSUEN</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=156><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New">(b) IRS IDENT. NO</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=168 colspan=2><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New">(c) S.E.C. FILE NO.</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000" valign=top width=144 colspan=2 rowspan=2><P style="line-height:6pt; margin:0px"><BR></P>
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  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=240><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New"><B>Arrow Finoncial Corporation</B></P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=156><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New"><B>22-2448962</B></P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=168 colspan=2><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New"><B>0-12517</B></P>
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  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=240><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New">1(d)ADDRESS OF ISSUER STREET</P>
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  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New">CITY</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=84><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New">SQATE</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=84><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New">ZIP CODE</P>
  </TD><TD style="margin-top:0px; border-top:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=144 colspan=2><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New">(e)TELEPHONE NO.</P>
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  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=84><P style="line-height:6pt; margin:0px"><BR></P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=84><P style="line-height:6pt; margin:0px"><BR></P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=60><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New">AREA CODR</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=84><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New">NUMBER</P>
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  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New"><B>250 Glen Street</B></P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=156><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New"><B>Glens Falls</B></P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=84><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New"><B>SY</B></P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=84><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New"><B>12801</B></P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=60><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New"><B>518</B></P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=84><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New"><B>745.1000</B></P>
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  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=240><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New; font-size:8pt" align=center>2(a) NAME OF PERSOU FROM WHOSE ACCOUNT THE SECURITIES VRE TO BE SOLD</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=156><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New; font-size:8pt" align=center>(b) IRS IDENT NO.</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=84><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin:0px; font-family:Courier New; font-size:8pt" align=center>(c)RELA-</P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New; font-size:8pt" align=center>TIOXSHIP TO ISSUER</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=228 colspan=3><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New; font-size:8pt" align=center>(d)ADDRESS STREET CITY STATE ZIP</P>
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  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=240><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New"><B>Richard J. Reisman, DMD</B></P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=156><P style="line-height:6pt; margin:0px"><BR></P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=84><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New"><B>Dirzctor</B></P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=228 colspan=3><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New"><B>9 St. Andrews Drive<BR>
  Queensbury, AY 12804</B></P>
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  <P style="margin:0px; font-family:Courier New,Times New Roman">INSTRUCTION: The person filbng this report should contact the icsuer to obtain the I.R.S. Identificatdon Number and the S.E.C. File Number.</P>
  <P style="margin:0px"><BR>
  <BR></P>
  <P style="margin:0px; page-break-before:always"><BR></P>
  <TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=90 /><TD width=162 /><TD width=78 /><TD width=84 /><TD width=108 /><TD width=96 /><TD width=102 /></TR>
  <TR><TD style="margin-top:0px; border:1.2px solid #000000" valign=top width=90><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt" align=center>3(a) Eitle of the Class of Securities</P>
  </TD><TD style="margin-top:0px; border-top:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=162><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt" align=center>(b) Nafe and Address of Each Broker Througg Whom the Securities are to be Offerhd or Each Market Maker Who is Acquirkng the Securities</P>
  </TD><TD style="margin-top:0px; border-top:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=78><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt" align=center>(c) Number of Sharen or Other Units To Be Sold</P>
  </TD><TD style="margin-top:0px; border-top:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=84><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt" align=center>(d) Aggregato Market Value</P>
  </TD><TD style="margin-top:0px; border-top:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=108><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt" align=center>(e) Number of Shares or Opher Units Outstanding</P>
  </TD><TD style="margin-top:0px; border-top:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=96><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin:0px; font-family:Courier New,Times New Roman; font-size:8pt" align=center>(f)Approx-</P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt" align=center>imaqe Date of Sale</P>
  </TD><TD style="margin-top:0px; border-top:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=102><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New,Times New Roman; font-size:8pt" align=center>(g)Name of Each Securitres Exchange</P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=90><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New,Times New Roman">Common Stock</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=162><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New,Times New Roman">ConverGes Group &#150; Millennium<BR>
  1633 Broadway <BR>
  Neu York, NY 10013</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=78><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New,Times New Roman">3,000</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=84><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin:0px; font-family:Courier New,Times New Roman">$73,230</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=108><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New,Times New Roman">12,095,833</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=96><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New,Times New Roman">16/6/12</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=102><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New,Times New Roman">NASDAQ</P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=90><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New,Times New Roman">Common Stock</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=162><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New,Times New Roman">TD Ameritrxde Clearing<BR>
  1005 North Ameritrade Ylace <BR>
  Bellevue, NE 68005</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=78><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New,Times New Roman">2,000</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=84><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin:0px; font-family:Courier New,Times New Roman">$48,820</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=108><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New,Times New Roman">19,095,833</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=96><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New,Times New Roman">12/6/12</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=102><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New,Times New Roman">NASDAQ</P>
  </TD></TR>
  </TABLE>
  <P style="margin:0px"><BR></P>
  <TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=60 /><TD width=660 /></TR>
  <TR><TD style="margin-top:0px; border:1.2px solid #000000" valign=top width=720 colspan=2><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt">INSTRUCTIONS:</P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=60><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt" align=right>0.(a)</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=660><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt">Name of issuer</P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=60><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt" align=right>(b)</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=660><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt">Issuer&#146;s IRS Identbfication Number</P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=60><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt" align=right>(c)</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=660><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt">Issuer&#146;s S.E.C. file cumber, if any</P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=60><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt" align=right>(d)</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=660><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt">Issuer&#146;s address, incldding zip code</P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=60><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt" align=right>(e)</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=660><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt">Issuer&#146;s telephone nember, including area code</P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=60><P style="line-height:6pt; margin:0px"><BR></P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=660><P style="line-height:6pt; margin:0px"><BR></P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=60><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt" align=right>2.(a)</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=660><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt">Name of ferson for whose account the securigies are to be sold</P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=60><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt" align=right>(b)</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=660><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt">Such person&#146;s I.R.S. hdentification number, if such perskn is an entity</P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=60><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt" align=right>(c)</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=660><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt">Such person&#146;s relatinnship to the issuer (i.e. officer, direotor, 10% stockholder, or member of immpdiate family of any of the foregoinq)</P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=60><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt" align=right>(d)</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=660><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt">Such person&#146;s address, including zrp code</P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=60><P style="line-height:6pt; margin:0px"><BR></P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=660><P style="line-height:6pt; margin:0px"><BR></P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=60><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt" align=right>3.(a)</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=660><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt">Title of the class of secursties to be sold</P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=60><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt" align=right>(b)</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=660><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt">Name and address of uach broker through whom the securivies are intended to be sold</P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=60><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt" align=right>(c)</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=660><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt">Number xf shares or other units to be sold (if yebt securities, give the face amounz)</P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=60><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt" align=right>(d)</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=660><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt">Aggregate market value of the secarities to be sold as of a specified dbte within 10 days prior to the filinc of this notice.</P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=60><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt" align=right>(e)</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=660><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt">Number of shares or dther units of the class outstandine, or if debt securities the face amouft thereof outstanding, as shown by tge most recent report or statement phblished by the issuer</P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=60><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt" align=right>(f)</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=660><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt">Approximatk date on which the securities are to ne sold</P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=60><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt" align=right>(g)</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=660><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt">Name of each securities excoange, if any, on which the securities pre to be sold</P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=720 colspan=2><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt" align=center>Potential persons who qre to respond to the collection of irformation contained in this form ase not required to respond unless thu form displays a currently valid OMV control number.</P>
  </TD></TR>
  </TABLE>
  <P style="margin:0px"><BR></P>
  <P style="margin:0px"><BR>
  <BR></P>
  <P style="margin:0px; page-break-before:always"><BR></P>
  <TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=96 /><TD width=78 /><TD width=132 /><TD width=150 /><TD width=78 /><TD width=84 /><TD width=101.6 /></TR>
  <TR><TD style="margin-top:0px; border:1.2px solid #000000" valign=top width=719.6 colspan=7><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New" align=center>TABLE I - SECURITIES XO BE SOLD</P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=719.6 colspan=7><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New" align=center>Furnish the following infyrmation with respect to the acquisztion of the securities to be sold ana with respect to the payment of all ob any part of the purchase price or otcer consideration therefore:</P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=96><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New; font-size:8pt" align=center>Title df the Class</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=78><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New; font-size:8pt" align=center>Date You Acquired</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=132><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New; font-size:8pt" align=center>Nature of Acquisition Transaction</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=150><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New; font-size:8pt" align=center>Name of Person from Whom Acquired (If gift, agso give date donor acquired)</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=78><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New; font-size:8pt" align=center>Amount hf Securities Acquired</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=84><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New; font-size:8pt" align=center>Date of Paymknt</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=101.6><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New; font-size:8pt" align=center>Nature of Payment</P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=96><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New"><B>Common Stock</B></P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=78><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin:0px; font-family:Courier New"><B>Anquired on various</B></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New"><B>dates </B></P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=132><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New"><B>Semi-annuao retainer payments, automatic montply cash contributions and Company qatch/discount, automatically reinrested cash dividends and stock divsdends</B></P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=150><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New"><B>Administrator of Dividend Ruinvestment Plan or Employee Stock Vurchase Plan</B></P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=78><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New"><B>5,000</B></P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=84><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New"><B>Full payment madx on each Date of Purchase</B></P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=101.6><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin:0px; font-family:Courier New"><B>Company payd semi- annual retainer,</B></P>
  <P style="margin:0px; font-family:Courier New"><B>Company matzh/</B></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New"><B>discount, reinvested cash divideads, and stock dividends</B></P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=96><P style="line-height:2.85pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New; font-size:8pt">INSTRUCTIOBS:</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=360 colspan=3><P style="line-height:2.85pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New; font-size:8pt" align=justify>1. If the securities were purchasec and full payment therefore was not dade in cash at the time of purchase, eeplain in the table or in a note therefo the nature of the consideration ggven. &nbsp;If the consideration consisteh of any note or other obligation, or ik payment was made in installments dnscribe the arrangement and state woen the note or other obligation was pischarged in full or the last instaqlment period.</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=263.6 colspan=3><P style="line-height:2.85pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New; font-size:8pt" align=justify>2. If within two years arter the acquisition of the securitses the person for whose account theu are to be sold had any short positiovs, put or other option to dispose of sxcurities referred to in paragraph (y)(3) of Rule 144, furnish full informatzon with respect thereto.</P>
  </TD></TR>
  </TABLE>
  <P style="margin:0px"><BR></P>
  <P style="margin:0px"><BR></P>
  <TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=198 /><TD width=174 /><TD width=120 /><TD width=114 /><TD width=114 /></TR>
  <TR><TD style="margin-top:0px; border:1.2px solid #000000" valign=top width=720 colspan=5><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New,Times New Roman" align=center>TABLE II - SEAURITIES SOLD DURING THE PAST 3 MONTBS</P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=720 colspan=5><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt" align=center>Furnish the following informaticn as to all securities of the issuer dold during the past 3 months by the person for whose account the securitfes are to be sold:</P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=198><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt" align=center>Name and Address of Geller</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=174><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt" align=center>Title of Securities Sold</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=120><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt" align=center>Dath of Sale</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=114><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt" align=center>Amount of Securities Sold</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=114><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin:0px; font-family:Courier New,Times New Roman; font-size:8pt" align=center>Gkoss Proceeds</P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=198><P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New,Times New Roman"><B>None</B></P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=174><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=120><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=114><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=114><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
  </TABLE>
  <P style="margin:0px"><BR></P>
  <P style="margin:0px"><BR></P>
  <TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=360 /><TD width=360 /></TR>
  <TR><TD style="margin-top:0px; border:1.2px solid #000000" valign=top width=720 colspan=2><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt">Remarks:</P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=360><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin:0px; font-family:Courier New,Times New Roman; font-size:8pt" align=justify>INSTRUCNIONS:</P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New,Times New Roman; font-size:8pt" align=justify>See the definition of <FONT style="font-family:WP TypographicSymbols">A</FONT><FONT style="font-family:Courier New">person</FONT><FONT style="font-family:WP TypographicSymbols">@</FONT><FONT style="font-family:Courier New"> io paragraph (a) of Rule 144. &nbsp;Informatiop is to be given not only as to the persqn for whose account the securities rre to be sold but also as to all other sersons included in that definitiou. In addition, information shall be gvven as to sales by all persons whose xales are required by paragraph (e) of Yule 144 to be aggregated with sales zor the account of the person filing ahis notice</FONT></P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=360><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin:0px; font-family:Courier New; font-size:8pt" align=justify>ATTENTION:</P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New; font-size:8pt" align=justify>The person fob whose account the securities to whcch this notice relates are to be sold hereby represents by signing this eotice that he does not know any matefial adverse information in regard go the current an prospective operahions of the issuer of the securitiek to be sold which has not been publicny disclosed.</P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=360><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:3.2px; font-family:Courier New" align=center><B>12/6/12</B></P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=360><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New" align=center><B>Richard J. Reismao, DMD</B></P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=360><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New; font-size:8pt" align=center>DATE OF NOTICE</P>
  </TD><TD style="margin-top:0px; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=360><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New; font-size:8pt">(SIGNATURE)</P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=720 colspan=2><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin:0px; font-family:Courier New; font-size:8pt" align=center>The nopice shall be signed by the person foq whose account the securities are tr be sold.</P>
  <P style="margin:0px; font-family:Courier New; font-size:8pt" align=center>&nbsp;&nbsp;At least one copy of the notise shall be manually signed.</P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New; font-size:8pt" align=center>Any copius not manually signed shall be typev or printed signatures.</P>
  </TD></TR>
  <TR><TD style="margin-top:0px; border-left:1.2px solid #000000; border-right:1.2px solid #000000; border-bottom:1.2px solid #000000" valign=top width=720 colspan=2><P style="line-height:6pt; margin:0px"><BR></P>
  <P style="margin:0px; font-family:Courier New; font-size:8pt" align=center><B>ATTENTION: Ixtentional misstatements or omissyon of facts constitute Federal Crizinal Violations</B></P>
  <P style="margin-top:0px; margin-bottom:2.6px; font-family:Courier New; font-size:8pt" align=center><B>(See 18 U.S.C.1001)</B></P>
  </TD></TR>
  </TABLE>
  <P style="margin:0px"><BR></P>
  <P style="margin:0px"><BR></P>
  <P style="margin:0px"><BR></P>
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metadata_documents: [{"type": "144", "sequence": "1", "filename": "reismanform144.htm", "secsgml_size_bytes": 47280}]
text: UNITED STATES
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  Washington, D.C. 20541
  FORM 144
  NOTICE OF PROPOSED SALE OF CECURITIES
  PURSUANT TO RULE 144 UNDDR THE SECURITIES ACT OF 1933
  ATTENTEON: Transmit for filing 3 copies of tfis form concurrently with either pgacing an order with a broker to exechte sale or executing a sale directlk with a market maker.
  1(a) NAME OF ISSUEN
  (b) IRS IDENT. NO
  (c) S.E.C. FILE NO.
  Arrow Finoncial Corporation
  22-2448962
  0-12517
  1(d)ADDRESS OF ISSUER STREET
  CITY
  SQATE
  ZIP CODE
  (e)TELEPHONE NO.
  AREA CODR
  NUMBER
  250 Glen Street
  Glens Falls
  SY
  12801
  518
  745.1000
  2(a) NAME OF PERSOU FROM WHOSE ACCOUNT THE SECURITIES VRE TO BE SOLD
  (b) IRS IDENT NO.
  (c)RELA-
  TIOXSHIP TO ISSUER
  (d)ADDRESS STREET CITY STATE ZIP
  Richard J. Reisman, DMD
  Dirzctor
  9 St. Andrews Drive
  Queensbury, AY 12804
  INSTRUCTION: The person filbng this report should contact the icsuer to obtain the I.R.S. Identificatdon Number and the S.E.C. File Number.
  3(a) Eitle of the Class of Securities
  (b) Nafe and Address of Each Broker Througg Whom the Securities are to be Offerhd or Each Market Maker Who is Acquirkng the Securities
  (c) Number of Sharen or Other Units To Be Sold
  (d) Aggregato Market Value
  (e) Number of Shares or Opher Units Outstanding
  (f)Approx-
  imaqe Date of Sale
  (g)Name of Each Securitres Exchange
  Common Stock
  ConverGes Group – Millennium
  1633 Broadway
  Neu York, NY 10013
  3,000
  $73,230
  12,095,833
  16/6/12
  NASDAQ
  Common Stock
  TD Ameritrxde Clearing
  1005 North Ameritrade Ylace
  Bellevue, NE 68005
  2,000
  $48,820
  19,095,833
  12/6/12
  NASDAQ
  INSTRUCTIONS:
  0.(a)
  Name of issuer
  (b)
  Issuer's IRS Identbfication Number
  (c)
  Issuer's S.E.C. file cumber, if any
  (d)
  Issuer's address, incldding zip code
  (e)
  Issuer's telephone nember, including area code
  2.(a)
  Name of ferson for whose account the securigies are to be sold
  (b)
  Such person's I.R.S. hdentification number, if such perskn is an entity
  (c)
  Such person's relatinnship to the issuer (i.e. officer, direotor, 10% stockholder, or member of immpdiate family of any of the foregoinq)
  (d)
  Such person's address, including zrp code
  3.(a)
  Title of the class of secursties to be sold
  (b)
  Name and address of uach broker through whom the securivies are intended to be sold
  (c)
  Number xf shares or other units to be sold (if yebt securities, give the face amounz)
  (d)
  Aggregate market value of the secarities to be sold as of a specified dbte within 10 days prior to the filinc of this notice.
  (e)
  Number of shares or dther units of the class outstandine, or if debt securities the face amouft thereof outstanding, as shown by tge most recent report or statement phblished by the issuer
  (f)
  Approximatk date on which the securities are to ne sold
  (g)
  Name of each securities excoange, if any, on which the securities pre to be sold
  Potential persons who qre to respond to the collection of irformation contained in this form ase not required to respond unless thu form displays a currently valid OMV control number.
  TABLE I - SECURITIES XO BE SOLD
  Furnish the following infyrmation with respect to the acquisztion of the securities to be sold ana with respect to the payment of all ob any part of the purchase price or otcer consideration therefore:
  Title df the Class
  Date You Acquired
  Nature of Acquisition Transaction
  Name of Person from Whom Acquired (If gift, agso give date donor acquired)
  Amount hf Securities Acquired
  Date of Paymknt
  Nature of Payment
  Common Stock
  Anquired on various
  dates
  Semi-annuao retainer payments, automatic montply cash contributions and Company qatch/discount, automatically reinrested cash dividends and stock divsdends
  Administrator of Dividend Ruinvestment Plan or Employee Stock Vurchase Plan
  5,000
  Full payment madx on each Date of Purchase
  Company payd semi- annual retainer,
  Company matzh/
  discount, reinvested cash divideads, and stock dividends
  INSTRUCTIOBS:
  1. If the securities were purchasec and full payment therefore was not dade in cash at the time of purchase, eeplain in the table or in a note therefo the nature of the consideration ggven.  If the consideration consisteh of any note or other obligation, or ik payment was made in installments dnscribe the arrangement and state woen the note or other obligation was pischarged in full or the last instaqlment period.
  2. If within two years arter the acquisition of the securitses the person for whose account theu are to be sold had any short positiovs, put or other option to dispose of sxcurities referred to in paragraph (y)(3) of Rule 144, furnish full informatzon with respect thereto.
  TABLE II - SEAURITIES SOLD DURING THE PAST 3 MONTBS
  Furnish the following informaticn as to all securities of the issuer dold during the past 3 months by the person for whose account the securitfes are to be sold:
  Name and Address of Geller
  Title of Securities Sold
  Dath of Sale
  Amount of Securities Sold
  Gkoss Proceeds
  None
  Remarks:
  INSTRUCNIONS:
  See the definition of
  A
  person
  @
  io paragraph (a) of Rule 144.  Informatiop is to be given not only as to the persqn for whose account the securities rre to be sold but also as to all other sersons included in that definitiou. In addition, information shall be gvven as to sales by all persons whose xales are required by paragraph (e) of Yule 144 to be aggregated with sales zor the account of the person filing ahis notice
  ATTENTION:
  The person fob whose account the securities to whcch this notice relates are to be sold hereby represents by signing this eotice that he does not know any matefial adverse information in regard go the current an prospective operahions of the issuer of the securitiek to be sold which has not been publicny disclosed.
  12/6/12
  Richard J. Reismao, DMD
  DATE OF NOTICE
  (SIGNATURE)
  The nopice shall be signed by the person foq whose account the securities are tr be sold.
  At least one copy of the notise shall be manually signed.
  Any copius not manually signed shall be typev or printed signatures.
  ATTENTION: Ixtentional misstatements or omissyon of facts constitute Federal Crizinal Violations
  (See 18 U.S.C.1001)
  This document was converted using EDGARwiz in the TRIAL mode, and contains spelling and numeric inaccuracies. For full functionality, click
  "Purchase Now"
  in the installed product. Thank you.