XML 56 R39.htm IDEA: XBRL DOCUMENT v3.3.1.900
Stock Based Compensation (Tables)
12 Months Ended
Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]
Roll Forward Schedule of Stock Option Plan by Shares and Weighted Average Exercise Prices

 
Stock Option Plans
Roll Forward of Shares Outstanding:
 
Outstanding at January 1, 2015
409,471

Granted
55,590

Exercised
(43,589
)
Forfeited
(11,990
)
Outstanding at December 31, 2015
409,482

Exercisable at December 31, 2015
275,401

Vested and Expected to Vest
134,081

 
 
Roll Forward of Shares Outstanding - Weighted Average Exercise Price:
 
Outstanding at January 1, 2015
$
22.04

Granted
25.35

Exercised
21.04

Forfeited
23.23

Outstanding at December 31, 2015
22.59

Exercisable at December 31, 2015
21.68

Vested and Expected to Vest
24.47

 
 
Weighted Average Remaining Contractual Life (in years):
 
Outstanding at December 31, 2015
5.72

Exercisable at December 31, 2015
4.52

Vested and Expected to Vest
8.19

 
 
Aggregate Intrinsic Value:
 
Outstanding at December 31, 2015
$
1,875

Exercisable at December 31, 2015
1,512

Vested and Expected to Vest
363

 
 
Shares Available for Grant at Period-End
401,000

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]
Schedule of Shares Authorized Under the Stock Option Plan by Exercise Price Range
 
Exercise Price Ranges
 
$18.71 to $19.48
$20.82
$21.83
$23.30 to $23.95
$24.51 to $25.27
Total
Outstanding Options at
December 31, 2015
 
 
 
 
 
 
Number of Shares Outstanding
65,112

13,150

134,458

67,565

129,197

409,482

Weighted-Average Remaining Contractual Life (in years)
2.74

0.92

4.78

6.07

8.51

5.72

Weighted-Average Exercise Price
$
18.89

$
20.41

$
22.21

$
23.48

$
24.60

$
22.59

 
 
 
 
 
 
 
Exercisable Options at
December 31, 2015
 
 
 
 
 
 
Number of Shares Outstanding
65,112

13,150

129,679

49,747

17,713

275,401

Weighted-Average Remaining Contractual Life (in years)
2.74

0.92

4.69

6.07

8.08

4.52

Weighted-Average Exercise Price
$
18.89

$
20.41

$
22.19

$
23.48

$
24.03

$
21.68

 
 
 
 
 
 
 
Other Stock Based Compensation Disclosure Table [Table Text Block]
Schedule of Other Stock Option Plan Information
 
 
2015
 
2014
 
2013
Shares Granted
 
55,590

 
75,518

 
10,404

Weighted Average Grant Date Information:
 
 
 
 
 
 
Fair Value of Options Granted
 
$
5.67

 
$
5.80

 
$
5.25

Fair Value Assumptions:
 
 
 
 
 
 
Dividend Yield
 
3.90
%
 
3.97
%
 
4.20
%
Expected Volatility
 
33.55
%
 
35.30
%
 
36.57
%
Risk Free Interest Rate
 
1.57
%
 
2.19
%
 
1.31
%
Expected Lives (in years)
 
7.66

 
6.85

 
6.71

 
 
 
 
 
 
 
Amount Expensed During the Year
 
$
308

 
$
360

 
$
372

Compensation Costs for Non-vested Awards Not Yet Recognized
 
500

 
478

 
420

Weighted Average Expected Vesting Period, In Years
 
2.12

 
1.68

 
1.45

Proceeds From Stock Options Exercised
 
$
917

 
$
1,454

 
$
1,254

Tax Benefits Related to Stock Options Exercised
 
59

 
25

 
23

Intrinsic Value of Stock Options Exercised
 
250

 
170

 
267

Schedule of Employee Stock Ownership Plan (ESOP) Disclosures [Table Text Block]
Schedule of ESOP Compensation Expense
 
 
2015
 
2014
 
2013
ESOP Compensation Expense
 
$
900

 
$
800

 
$
600


As the debt is repaid, shares are released from collateral based on the proportion of debt paid to total debt outstanding for the year and allocated to active employees.  
Shares pledged as collateral are reported as unallocated ESOP shares in stockholders equity.  As shares are released from collateral, Arrow reports compensation expense equal to the current average market price of the shares, and the shares become outstanding for earnings per share computations.  The ESOP shares as of December 31, 2015 were as follows:

Schedule of Shares in ESOP Plan
ESOP Plan Shares:
2015
Allocated Shares
684,016

Shares Released for Allocation During 2015
17,645

Unallocated Shares
55,275

Total ESOP Shares
756,936

 
 
Market Value of Unallocated Shares
$
1,502