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Parent Only Financial Information | 12 Months Ended
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Dec. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Parent Only Financial Information | PARENT ONLY FINANCIAL INFORMATION (Dollars In Thousands) Condensed financial information for Arrow Financial Corporation is as follows:
BALANCE SHEETS | December 31,
ASSETS | 2017 |  | 2016
Interest-Bearing Deposits with Subsidiary Banks | $ | 2,186 |  |  | $ | 3,593 |
Available-for-Sale Securities | 1,562 |  |  | 1,382 |
Held-to-Maturity Securities | — |  |  | 1,000 |
Investment in Subsidiaries at Equity | 261,622 |  |  | 243,031 |
Other Assets | 7,987 |  |  | 7,951 |
Total Assets | $ | 273,357 |  |  | $ | 256,957 |
LIABILITIES |  |  |
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts | $ | 20,000 |  |  | $ | 20,000 |
Other Liabilities | 3,754 |  |  | 4,105 |
Total Liabilities | 23,754 |  |  | 24,105 |
STOCKHOLDERS’ EQUITY |  |  |
Total Stockholders’ Equity | 249,603 |  |  | 232,852 |
Total Liabilities and Stockholders’ Equity | $ | 273,357 |  |  | $ | 256,957 |
STATEMENTS OF INCOME | Years Ended December 31,
Income: | 2017 |  | 2016 |  | 2015
Dividends from Bank Subsidiaries | $ | 12,800 |  |  | $ | 11,650 |  |  | $ | 13,400 |
Interest and Dividends on Investments | 53 |  |  | 117 |  |  | 118 |
Other Income (Including Management Fees) | 677 |  |  | 635 |  |  | 847 |
Total Income | 13,530 |  |  | 12,402 |  |  | 14,365 |
Expense: |  |  |  |  |
Interest Expense | 781 |  |  | 691 |  |  | 619 |
Salaries and Employee Benefits | 76 |  |  | 77 |  |  | 80 |
Other Expense | 882 |  |  | 865 |  |  | 885 |
Total Expense | 1,739 |  |  | 1,633 |  |  | 1,584 |
Income Before Income Tax Benefit and Equity |  |  |  |  |
in Undistributed Net Income of Subsidiaries | 11,791 |  |  | 10,769 |  |  | 12,781 |
Income Tax Benefit | 225 |  |  | 482 |  |  | 372 |
Equity in Undistributed Net Income of Subsidiaries | 17,310 |  |  | 15,283 |  |  | 11,509 |
Net Income | $ | 29,326 |  |  | $ | 26,534 |  |  | $ | 24,662 |
The Statement of Changes in Stockholders’ Equity is not reported because it is identical to the Consolidated Statement of Changes in Stockholders’ Equity.
STATEMENTS OF CASH FLOWS | Years Ended December 31,
| 2017 |  | 2016 |  | 2015
Cash Flows from Operating Activities: |  |  |  |  |
Net Income | $ | 29,326 |  |  | $ | 26,534 |  |  | $ | 24,662 |
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: |  |  |  |  |
Undistributed Net Income of Subsidiaries | (17,310 | ) |  | (15,283 | ) |  | (11,509 | )
Shares Issued Under the Directors’ Stock Plan | 233 |  |  | 196 |  |  | 227 |
Stock-Based Compensation Expense | 351 |  |  | 287 |  |  | 308 |
Changes in Other Assets and Other Liabilities | (1,530 | ) |  | (1,177 | ) |  | (1,419 | )
Net Cash Provided by Operating Activities | 11,070 |  |  | 10,557 |  |  | 12,269 |
Cash Flows from Investing Activities: |  |  |  |  |
Proceeds from the Sale of Securities Available-for-Sale | — |  |  | — |  |  | 47 |
Purchases of Securities Available-for-Sale | — |  |  | — |  |  | (47 | )
Proceeds of Securities Held-to-Maturity | 1,000 |  |  | — |  |  | — |
Net Cash Provided by Investing Activities | 1,000 |  |  | — |  |  | — |
Cash Flows from Financing Activities: |  |  |  |  |
Stock Options Exercised | 1,190 |  |  | 2,404 |  |  | 918 |
Shares Issued Under the Employee Stock Purchase Plan | 496 |  |  | 493 |  |  | 494 |
Shares Issued for Dividend Reinvestment Plans | 1,684 |  |  | 1,743 |  |  | 886 |
Tax Benefit for Exercises of Stock Options | — |  |  | 188 |  |  | 59 |
Purchase of Treasury Stock | (3,248 | ) |  | (2,141 | ) |  | (1,498 | )
Cash Dividends Paid | (13,599 | ) |  | (13,092 | ) |  | (12,700 | )
Net Cash Used in Financing Activities | (13,477 | ) |  | (10,405 | ) |  | (11,841 | )
Net Increase (Decrease) in Cash and Cash Equivalents | (1,407 | ) |  | 152 |  |  | 428 |
Cash and Cash Equivalents at Beginning of the Year | 3,593 |  |  | 3,441 |  |  | 3,013 |
Cash and Cash Equivalents at End of the Year | $ | 2,186 |  |  | $ | 3,593 |  |  | $ | 3,441 |
Supplemental Disclosures to Statements of Cash Flow Information: |  |  |  |  |
Interest Paid | $ | 781 |  |  | $ | 691 |  |  | $ | 619 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.7-05(c)(Schedule II)) -URI http://asc.fasb.org/extlink&oid=6879921&loc=d3e569147-122900 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=68079674&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(c)(Schedule I)) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 + Details
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