XML 55 R40.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Retirement Benefit Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract] |
Schedule of Defined Benefit Plans Disclosures | The following tables set forth changes in the plans’ benefit obligations (projected benefit obligation for pension benefits and accumulated benefit obligation for postretirement benefits) and changes in the plans’ assets and the funded status of the pension plans and other postretirement benefit plan at December 31:
Schedule of Defined Benefit Plan Disclosures
| Employees' Pension Plan |  | Select Executive Retirement Plan |  | Postretirement Benefit Plans
Defined Benefit Plan Funded Status |  |  |  |  |
December 31, 2016 |  |  |  |  |
Fair Value of Plan Assets | $ | 50,220 |  |  | $ | — |  |  | $ | — |
Benefit Obligation | 36,154 |  |  | 4,547 |  |  | 7,623 |
Funded Status of Plan | $ | 14,066 |  |  | $ | (4,547 | ) |  | $ | (7,623 | )
December 31, 2015 |  |  |  |  |
Fair Value of Plan Assets | $ | 47,234 |  |  | $ | — |  |  | $ | — |
Benefit Obligation | 35,982 |  |  | 4,784 |  |  | 7,701 |
Funded Status of Plan | $ | 11,252 |  |  | $ | (4,784 | ) |  | $ | (7,701 | )
Change in Benefit Obligation |  |  |  |  |
Benefit Obligation, at January 1, 2016 | $ | 35,982 |  |  | $ | 4,784 |  |  | $ | 7,701 |
Service Cost | 1,400 |  |  | 40 |  |  | 147 |
Interest Cost | 1,641 |  |  | 206 |  |  | 340 |
Plan Participants' Contributions | — |  |  | — |  |  | 402 |
Amendments | — |  |  | — |  |  | — |
Actuarial Gain | (738 | ) |  | (31 | ) |  | (327 | )
Benefits Paid | (2,131 | ) |  | (452 | ) |  | (640 | )
Benefit Obligation, at December 31, 2016 | $ | 36,154 |  |  | $ | 4,547 |  |  | $ | 7,623 |
Schedule of Defined Benefit Plan Disclosures
| Employees' Pension Plan |  | Select Executive Retirement Plan |  | Postretirement Benefit Plans
Benefit Obligation, at January 1, 2015 | $ | 36,966 |  |  | $ | 5,072 |  |  | $ | 9,170 |
Service Cost | 1,503 |  |  | 32 |  |  | 250 |
Interest Cost | 1,545 |  |  | 211 |  |  | 394 |
Plan Participants' Contributions | — |  |  | — |  |  | 481 |
Amendments | 277 |  |  | 91 |  |  | — |
Actuarial Gain | (1,670 | ) |  | (152 | ) |  | (1,715 | )
Benefits Paid | (2,639 | ) |  | (470 | ) |  | (879 | )
Benefit Obligation, at December 31, 2015 | $ | 35,982 |  |  | $ | 4,784 |  |  | $ | 7,701 |
Change in Fair Value of Plan Assets |  |  |  |  |
Fair Value of Plan Assets, at January 1, 2016 | $ | 47,234 |  |  | $ | — |  |  | $ | — |
Actual Return on Plan Assets | 5,117 |  |  | — |  |  | — |
Employer Contributions | — |  |  | 452 |  |  | 238 |
Plan Participants' Contributions | — |  |  | — |  |  | 402 |
Benefits Paid | (2,131 | ) |  | (452 | ) |  | (640 | )
Fair Value of Plan Assets, at December 31, 2016 | $ | 50,220 |  |  | $ | — |  |  | $ | — |
Fair Value of Plan Assets, at January 1, 2015 | $ | 45,704 |  |  | $ | — |  |  | $ | — |
Actual Return on Plan Assets | 1,169 |  |  | — |  |  | — |
Employer Contributions | 3,000 |  |  | 470 |  |  | 398 |
Plan Participants' Contributions | — |  |  | — |  |  | 481 |
Benefits Paid | (2,639 | ) |  | (470 | ) |  | (879 | )
Fair Value of Plan Assets, at December 31, 2015 | $ | 47,234 |  |  | $ | — |  |  | $ | — |
Accumulated Benefit Obligation at December 31, 2016 | $ | 35,770 |  |  | $ | 4,547 |  |  | $ | 7,623 |
Amounts Recognized in the Consolidated Balance Sheets |  |  |  |  |
December 31, 2016 |  |  |  |  |
Prepaid Pension Asset | $ | 14,066 |  |  | $ | — |  |  | — |
Accrued Benefit Liability | — |  |  | (4,547 | ) |  | (7,623 | )
Net Benefit Recognized | $ | 14,066 |  |  | $ | (4,547 | ) |  | $ | (7,623 | )
December 31, 2015 |  |  |  |  |
Prepaid Pension Asset | $ | 11,252 |  |  | $ | — |  |  | — |
Accrued Benefit Liability | — |  |  | (4,784 | ) |  | (7,701 | )
Net Benefit Recognized | $ | 11,252 |  |  | $ | (4,784 | ) |  | $ | (7,701 | )
Amounts Recognized in Other Comprehensive Income (Loss) |  |  |  |  |
For the Year Ended December 31, 2016 |  |  |  |  |
Net Unamortized Gain Arising During the Period | $ | (2,657 | ) |  | $ | (32 | ) |  | $ | (328 | )
Net Prior Service Cost Arising During the Period | — |  |  | — |  |  | — |
Amortization of Net Loss | (591 | ) |  | (125 | ) |  | — |
Amortization of Prior Service Credit (Cost) | 57 |  |  | (57 | ) |  | 12 |
Total Other Comprehensive (Loss) for Pension and Other Postretirement Benefit Plans | $ | (3,191 | ) |  | $ | (214 | ) |  | $ | (316 | )
For the Year Ended December 31, 2015 |  |  |  |  |
Net Unamortized Loss Arising During the Period | $ | 472 |  |  | $ | (152 | ) |  | $ | (1,715 | )
Net Prior Service Cost Arising During the Period | 277 |  |  | 91 |  |  | — |
Amortization of Net Loss | (601 | ) |  | (131 | ) |  | (114 | )
Amortization of Prior Service Credit (Cost) | 83 |  |  | (58 | ) |  | 31 |
Total Other Comprehensive Income (Loss) for Pension and Other Postretirement Benefit Plans | $ | 231 |  |  | $ | (250 | ) |  | $ | (1,798 | )
Schedule of Defined Benefit Plan Disclosures
| Employees' Pension Plan |  | Select Executive Retirement Plan |  | Postretirement Benefit Plans
For the Year Ended December 31, 2014 |  |  |  |  |
Net Unamortized Loss Arising During the Period | $ | 2,855 |  |  | $ | 871 |  |  | $ | 884 |
Net Prior Service Cost Arising During the Period | — |  |  | — |  |  | 570 |
Amortization of Net Loss | (356 | ) |  | (93 | ) |  | (25 | )
Amortization of Prior Service (Cost) Credit | 45 |  |  | (72 | ) |  | 114 |
Total Other Comprehensive (Loss) Income for Pension and Other Postretirement Benefit Plans | $ | 2,544 |  |  | $ | 706 |  |  | $ | 1,543 |
Accumulated Other Comprehensive Income |  |  |  |  |
December 31, 2016 |  |  |  |  |
Net Actuarial Loss | $ | 7,479 |  |  | $ | 2,012 |  |  | $ | (238 | )
Prior Service (Credit) Cost | 207 |  |  | 546 |  |  | 422 |
Total Accumulated Other Comprehensive Income, Before Tax | $ | 7,686 |  |  | $ | 2,558 |  |  | $ | 184 |
December 31, 2015 |  |  |  |  |
Net Actuarial Loss | $ | 10,727 |  |  | $ | 2,169 |  |  | $ | 90 |
Prior Service (Credit) Cost | 150 |  |  | 603 |  |  | 410 |
Total Accumulated Other Comprehensive Income, Before Tax | $ | 10,877 |  |  | $ | 2,772 |  |  | $ | 500 |
Amounts that will be Amortized from Accumulated Other Comprehensive Income the Next Year |  |  |  |  |
Net Actuarial Loss | $ | 232 |  |  | $ | 117 |  |  | $ | — |
Prior Service (Credit) Cost | $ | (57 | ) |  | $ | 57 |  |  | $ | (10 | )
Net Periodic Benefit Cost |  |  |  |  |
For the Year Ended December 31, 2016 |  |  |  |  |
Service Cost | $ | 1,400 |  |  | $ | 40 |  |  | $ | 147 |
Interest Cost | 1,641 |  |  | 206 |  |  | 340 |
Expected Return on Plan Assets | (3,198 | ) |  | — |  |  | — |
Amortization of Prior Service (Credit) Cost | (57 | ) |  | 57 |  |  | (12 | )
Amortization of Net Loss | 591 |  |  | 125 |  |  | — |
Net Periodic Benefit Cost | $ | 377 |  |  | $ | 428 |  |  | $ | 475 |
For the Year Ended December 31, 2015 |  |  |  |  |
Service Cost | $ | 1,503 |  |  | $ | 32 |  |  | $ | 250 |
Interest Cost | 1,545 |  |  | 211 |  |  | 394 |
Expected Return on Plan Assets | (3,311 | ) |  | — |  |  | — |
Amortization of Prior Service (Credit) Cost | (83 | ) |  | 58 |  |  | (31 | )
Amortization of Net Loss | 601 |  |  | 131 |  |  | 114 |
Net Periodic Benefit Cost | $ | 255 |  |  | $ | 432 |  |  | $ | 727 |
For the Year Ended December 31, 2014 |  |  |  |  |
Service Cost | $ | 1,410 |  |  | $ | 10 |  |  | $ | 173 |
Interest Cost | 1,621 |  |  | 206 |  |  | 374 |
Expected Return on Plan Assets | (3,230 | ) |  | — |  |  | — |
Amortization of Prior Service (Credit) Cost | (45 | ) |  | 72 |  |  | (114 | )
Amortization of Net Loss | 356 |  |  | 93 |  |  | 25 |
Net Periodic Benefit Cost | $ | 112 |  |  | $ | 381 |  |  | $ | 458 |
Schedule of Defined Benefit Plan Disclosures
| Employees' Pension Plan |  | Select Executive Retirement Plan |  | Postretirement Benefit Plans
Weighted-Average Assumptions Used in Calculating Benefit Obligation |  |  |  |  |
December 31, 2016 |  |  |  |  |
Discount Rate | 4.83 | % |  | 4.73 | % |  | 4.80 | %
Rate of Compensation Increase | 3.50 | % |  | 3.50 | % |  | 3.50 | %
Interest Rate Credit for Determining Projected Cash Balance Account | 3.00 | % |  |  |  |  |
Interest Rate to Annuitize Cash Balance Account | 4.50 | % |  |  |  |  |
Interest Rate to Convert Annuities to Actuarially Equivalent Lump Sum Amounts | 4.50 | % |  | 4.50 | % |  |
December 31, 2015 |  |  |  |  |
Discount Rate | 4.73 | % |  | 4.61 | % |  | 4.69 | %
Rate of Compensation Increase | 3.50 | % |  | 3.00 | % |  | 3.50 | %
Interest Rate Credit for Determining Projected Cash Balance Account | 3.03 | % |  |  |  |  |
Interest Rate to Annuitize Cash Balance Account | 5.00 | % |  |  |  |  |
Interest Rate to Convert Annuities to Actuarially Equivalent Lump Sum Amounts | 5.00 | % |  | 5.00 | % |  |
Weighted-Average Assumptions Used in Calculating Net Periodic Benefit Cost |  |  |  |  |
December 31, 2016 |  |  |  |  |
Discount Rate | 4.73 | % |  | 4.61 | % |  | 4.69 | %
Expected Long-Term Return on Plan Assets | 7.00 | % |  |  |  |  |
Rate of Compensation Increase | 3.50 | % |  | 3.50 | % |  | 3.50 | %
Interest Rate Credit for Determining Projected Cash Balance Account | 3.03 | % |  |  |  |  |
Interest Rate to Annuitize Cash Balance Account | 5.00 | % |  |  |  |  |
Interest Rate to Convert Annuities to Actuarially Equivalent Lump Sum Amounts | 5.00 | % |  | 5.00 | % |  |
December 31, 2015 |  |  |  |  |
Discount Rate | 4.31 | % |  | 4.26 | % |  | 4.31 | %
Expected Long-Term Return on Plan Assets | 7.50 | % |  |  |  |  |
Rate of Compensation Increase | 3.50 | % |  | 3.50 | % |  | 3.50 | %
Interest Rate Credit for Determining Projected Cash Balance Account | 3.04 | % |  |  |  |  |
Interest Rate to Annuitize Cash Balance Account | 4.75 | % |  |  |  |  |
Interest Rate to Convert Annuities to Actuarially Equivalent Lump Sum Amounts | 4.75 | % |  | 4.75 | % |  |
December 31, 2014 |  |  |  |  |
Discount Rate | 5.10 | % |  | 4.85 | % |  | 5.10 | %
Expected Long-Term Return on Plan Assets | 7.50 | % |  |  |  |  |
Rate of Compensation Increase | 3.50 | % |  | 3.50 | % |  | 3.50 | %
Interest Rate Credit for Determining Projected Cash Balance Account | 4.00 | % |  |  |  |  |
Interest Rate to Annuitize Cash Balance Account | 5.25 | % |  |  |  |  |
Interest Rate to Convert Annuities to Actuarially Equivalent Lump Sum Amounts | 5.25 | % |  | 5.25 | % |  |
Schedule of Defined Benefit Plan Disclosures Information about Defined Benefit Plan Assets - Employees' Pension Plan
Fair Value Measurements Using:
Asset Category | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total |  | Percent of Total |  | Target Allocation Minimum |  | Target Allocation Maximum
December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |
Cash | $ | 40 |  |  | $ | — |  |  | $ | — |  |  | $ | 40 |  |  | 0.1 | % |  | — | % |  | 15.0 | %
Interest-Bearing Money Market Fund | 3,080 |  |  | — |  |  | — |  |  | 3,080 |  |  | 6.1 | % |  | — | % |  | 15.0 | %
Arrow Common Stock 1 | 6,592 |  |  | — |  |  | — |  |  | 6,592 |  |  | 13.1 | % |  | — | % |  | 10.0 | %
North Country Funds - Equity 2 | 18,640 |  |  | — |  |  | — |  |  | 18,640 |  |  | 37.2 | % |  |  |  |  |  |
Other Mutual Funds - Equity | 13,560 |  |  | — |  |  | — |  |  | 13,560 |  |  | 27.0 | % |  |  |  |  |  |
Total Equity Funds | 32,200 |  |  | — |  |  | — |  |  | 32,200 |  |  | 64.2 | % |  | 55.0 | % |  | 85.0 | %
North Country Funds - Fixed income 2 | 7,332 |  |  | — |  |  | — |  |  | 7,332 |  |  | 14.6 | % |  |  |  |  |  |
Other Mutual Funds - Fixed Income | 976 |  |  | — |  |  | — |  |  | 976 |  |  | 1.9 | % |  |  |  |  |  |
Total Fixed Income Funds | 8,308 |  |  | — |  |  | — |  |  | 8,308 |  |  | 16.5 | % |  | 10.0 | % |  | 30.0 | %
Total | $ | 50,220 |  |  | $ | — |  |  | $ | — |  |  | $ | 50,220 |  |  | 100.0 | % |  |  |  |  |
December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |
Cash | $ | 44 |  |  | $ | — |  |  | $ | — |  |  | $ | 44 |  |  | 0.1 | % |  | — | % |  | 15.0 | %
Interest-Bearing Money Market Fund | 2,471 |  |  | — |  |  | — |  |  | 2,471 |  |  | 5.2 | % |  | — | % |  | 15.0 | %
Arrow Common Stock 1 | 4,554 |  |  | — |  |  | — |  |  | 4,554 |  |  | 9.6 | % |  | — | % |  | 10.0 | %
North Country Funds - Equity 2 | 19,625 |  |  | — |  |  | — |  |  | 19,625 |  |  | 41.6 | % |  |  |  |  |  |
Other Mutual Funds - Equity | 13,194 |  |  | — |  |  | — |  |  | 13,194 |  |  | 27.9 | % |  |  |  |  |  |
Total Equity Funds | 32,819 |  |  | — |  |  | — |  |  | 32,819 |  |  | 69.5 | % |  | 55.0 | % |  | 85.0 | %
North Country Funds - Fixed income 2 | 7,346 |  |  | — |  |  | — |  |  | 7,346 |  |  | 15.6 | % |  |  |  |  |  |
Other Mutual Funds - Fixed Income | — |  |  | — |  |  | — |  |  | — |  |  | — | % |  |  |  |  |  |
Total Fixed Income Funds | 7,346 |  |  | — |  |  | — |  |  | 7,346 |  |  | 15.6 | % |  | 15.0 | % |  | 30.0 | %
Total | $ | 47,234 |  |  | $ | — |  |  | $ | — |  |  | $ | 47,234 |  |  | 100.0 | % |  |  |  |  |
1 Acquisition of Arrow Financial Corporation common stock was under 10% of the total fair value of the employee's pension plan assets at the time of acquisition. 2 The North Country Funds - Equity and the North Country Funds - Fixed Income are publicly traded mutual funds advised by Arrow's subsidiary, North Country Investment Advisers, Inc.
Schedule of Defined Benefit Plan Disclosures
| Employees' Pension Plan |  | Select Executive Retirement Plan |  | Postretirement Benefit Plans
Expected Future Benefit Payments |  |  |  |  |
2017 | $ | 2,398 |  |  | $ | 441 |  |  | $ | 515 |
2018 | 2,168 |  |  | 429 |  |  | 539 |
2019 | 2,413 |  |  | 417 |  |  | 561 |
2020 | 2,684 |  |  | 403 |  |  | 560 |
2021 | 2,418 |  |  | 388 |  |  | 586 |
2022 - 2026 | 13,716 |  |  | 1,767 |  |  | 2,955 |
Estimated Contributions During 2017 | $ | — |  |  | $ | 441 |  |  | $ | 515 |
Assumed Health Care Cost Trend Rates |  |  |  |  |
December 31, 2016 |  |  |  |  |
Health Care Cost Trend Rate Assumed for Next Year |  |  |  |  | 7.50 | %
Rate to which the Cost Trend Rate is Assumed to Decline (the Ultimate Trend Rate) |  |  |  |  | 3.89 | %
Year that the Rate Reaches the Ultimate Trend Rate |  |  |  |  | 2075 |
December 31, 2015 |  |  |  |  |
Health Care Cost Trend Rate Assumed for Next Year |  |  |  |  | 7.75 | %
Rate to which the Cost Trend Rate is Assumed to Decline (the Ultimate Trend Rate) |  |  |  |  | 3.89 | %
Year that the Rate Reaches the Ultimate Trend Rate |  |  |  |  | 2075 |
Effect of a One-Percentage Point Change in Assumed Health Care Cost Trend Rates |  |  |  |  |
Effect of a One Percentage Point Increase on Service and Interest Cost Components |  |  |  |  | $ | 47 |
Effect of a One Percentage Point Decrease on Service and Interest Cost Components |  |  |  |  | (40 | )
Effect of a One Percentage Point Increase on Accumulated Postretirement Benefit Obligation |  |  |  |  | 513 |
Effect of a One Percentage Point Decrease on Accumulated Postretirement Benefit Obligation |  |  |  |  | (443 | )

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e2439-114920 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e2417-114920 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e2410-114920 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=73719040&loc=d3e4179-114921 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration