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Stock Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2019
Share-based Payment Arrangement [Abstract] |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award | The following table summarizes information about restricted stock unit activity for the year ended December 31, 2019. The Company started granting restricted stock units in 2018.
| Restricted Stock Units | Weighted Average Grant Date Fair Value
Non-vested at January 1, 2019 | 3,478 |  | $ | 31.62 |
Granted | 4,018 |  | $ | 30.79 |
Vested | — |  | $ | — |
Canceled | — |  | $ | — |
Non-vested at December 31, 2019 | 7,496 |  | $ | 31.18 |
Non-vested at January 1, 2018 | — |  | $ | — |
Granted | 3,478 |  | $ | 31.62 |
Vested | — |  | $ | — |
Canceled | — |  | $ | — |
Non-vested at December 31, 2018 | 3,478 |  | $ | 31.62 |
The following table summarizes information about stock option activity for the year ended December 31, 2019.
| Shares | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (in years) | Aggregate Intrinsic Value
Outstanding at January 1, 2019 | 293,058 |  | $ | 24.92 |  |  |
Granted | 53,560 |  | $ | 30.79 |  |  |
Exercised | (86,508 | ) | $ | 20.69 |  |  |
Forfeited | (18,868 | ) | $ | 25.83 |  |  |
Outstanding at December 31, 2019 | 241,242 |  | $ | 27.58 |  | 6.50 | $ | 2,465 |
Vested at Period-End | 126,081 |  | $ | 24.71 |  | 4.96 | $ | 1,649 |
Expected to Vest | 115,161 |  | $ | 30.72 |  | 8.19 | $ | 816 |
Long Term Incentive Plan The Long Term Incentive Plan provides for the grant of incentive stock options, non-qualified stock options, restricted stock, restricted stock units, performance units and performance shares. The Compensation Committee of the Board of Directors administers the Long Term Incentive Plan.
Shares Available for Grant at Period-End |  |  |  | 225,485 |
The following table presents information on the amounts expensed related to Restricted Stock Units awarded pursuant to the Long Term Incentive Plan for the year ended December 31, 2019.
|  | 2019 |  |  | 2018 |
Amount Expensed During the Year |  | $ | 75 |  |  | $ | 34 |
Compensation Costs for Non-vested Awards Not Yet Recognized |  | 126 |  |  | 76 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range | The following is the Schedule of Stock Options Granted Under the Long Term Incentive Plan by Exercise Price Range.
| Exercise Price Ranges |
| $19.01 | $20.29 to $20.87 | $21.35 | $22.51 to $22.97 | $30.79 to $30.91 | $34.05 | Total
Outstanding at December 31, 2019 |  |  |  |  |  |  |
Number of Stock Options Outstanding | 1,872 |  | 27,325 |  | 20,338 |  | 52,385 |  | 98,614 |  | 40,708 |  | 241,242 |
Weighted-Average Remaining Contractual Life (in years) | 0.08 |  | 1.92 |  | 4.08 |  | 5.66 |  | 8.61 |  | 7.07 |  | 6.50 |
Weighted-Average Exercise Price | $ | 19.01 |  | $ | 20.57 |  | $ | 21.35 |  | $ | 22.78 |  | $ | 30.85 |  | $ | 34.05 |  | $ | 27.58 |
Vested at December 31, 2019 |  |  |  |  |  |  |
Number of Stock Options Outstanding | 1,872 |  | 27,325 |  | 20,338 |  | 42,672 |  | 12,570 |  | 21,304 |  | 126,081 |
Weighted-Average Remaining Contractual Life (in years) | 0.08 |  | 1.92 |  | 4.08 |  | 5.56 |  | 8.09 |  | 7.07 |  | 4.96 |
Weighted-Average Exercise Price | $ | 19.01 |  | $ | 20.57 |  | $ | 21.35 |  | $ | 22.73 |  | $ | 30.91 |  | $ | 34.05 |  | $ | 24.71 |
Other Stock Based Compensation Disclosure Table | The following is the Schedule of Other Information on Stock Options Granted.
|  | 2019 |  | 2018 |  | 2017
Stock Options Granted |  | 53,560 |  |  | 55,070 |  |  | 59,009 |
Weighted Average Grant Date Information: |  |  |  |  |  |
Fair Value of Options Granted |  | $ | 5.58 |  |  | $ | 5.43 |  |  | $ | 5.89 |
Fair Value Assumptions: |  |  |  |  |  |
Dividend Yield |  | 3.26 | % |  | 2.98 | % |  | 2.72 | %
Expected Volatility |  | 22.58 | % |  | 21.55 | % |  | 21.40 | %
Risk Free Interest Rate |  | 2.63 | % |  | 2.68 | % |  | 2.25 | %
Expected Lives (in years) |  | 8.68 |  |  | 6.98 |  |  | 6.88 |
Amount Expensed During the Year |  | $ | 316 |  |  | $ | 322 |  |  | $ | 351 |
Compensation Costs for Non-vested Awards Not Yet Recognized |  | 487 |  |  | 504 |  |  | 528 |
Weighted Average Expected Vesting Period, In Years |  | 2.07 |  |  | 2.74 |  |  | 2.59 |
Proceeds From Stock Options Exercised |  | $ | 1,792 |  |  | $ | 2,255 |  |  | $ | 1,190 |
Tax Benefits Related to Stock Options Exercised |  | 227 |  |  | 240 |  |  | 168 |
Intrinsic Value of Stock Options Exercised |  | 1,073 |  |  | 1,552 |  |  | 825 |
Schedule of Employee Stock Ownership Plan (ESOP) Disclosures | Schedule of ESOP Compensation Expense
|  | 2019 |  | 2018 |  | 2017
ESOP Compensation Expense |  | $ | 1,368 |  |  | $ | 1,400 |  |  | $ | 1,400 |
Prior to December 31, 2019, shares pledged as collateral were reported as unallocated ESOP shares in stockholders’ equity. As shares were released from collateral, Arrow reported compensation expense equal to the current average market price of the shares, and the shares become outstanding for earnings per share computations. During the year ended December 31, 2019, all remaining unallocated shares were released. The ESOP shares as of December 31, 2019 were as follows: Schedule of Shares in ESOP Plan
ESOP Plan Shares: | 2019
Allocated Shares | 759,321 |
Shares Released for Allocation During 2019 | 5,151 |
Unallocated Shares | — |
Total ESOP Shares | 764,472 |

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