Hey Cody,
First off, where do u live? That kinda looks like hazel, although we have something that looks similar to it, though I think it is some type of alder. The alder/hazel look alike stuff is commonly found on the edges of ponds and streams around my home in north Georgia. I've never tried it for arrows, as the stuff around here doesn't grow straight enough and tends to have lots of kinks. But dry it and do your best to straighten it, and give it a shot. If it shoots straight and flies well, it will make an arrow regardless of what type of wood it is.