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Parent Only Financial Information (Tables) | 12 Months Ended
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Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract] |
Schedule of Condensed Financial Statements | Condensed financial information for Arrow Financial Corporation is as follows:
BALANCE SHEETS | December 31,
ASSETS | 2020 |  | 2019
Interest-Bearing Deposits with Subsidiary Banks | $ | — |  |  | $ | 1,429 |
Equity Securities | 1,636 |  |  | 2,063 |
Investment in Subsidiaries at Equity | 341,958 |  |  | 312,018 |
Other Assets | 13,294 |  |  | 9,365 |
Total Assets | $ | 356,888 |  |  | $ | 324,875 |
LIABILITIES |  |  |
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts | $ | 20,000 |  |  | $ | 20,000 |
Other Liabilities | 2,496 |  |  | 3,147 |
Total Liabilities | 22,496 |  |  | 23,147 |
STOCKHOLDERS’ EQUITY |  |  |
Total Stockholders’ Equity | 334,392 |  |  | 301,728 |
Total Liabilities and Stockholders’ Equity | $ | 356,888 |  |  | $ | 324,875 |
STATEMENTS OF INCOME | Years Ended December 31,
Income: | 2020 |  | 2019 |  | 2018
Dividends from Bank Subsidiaries | $ | 17,199 |  |  | $ | 14,100 |  |  | $ | 13,300 |
Interest and Dividends on Investments | 49 |  |  | 49 |  |  | 48 |
Other Income (Including Management Fees) | 246 |  |  | 1,006 |  |  | 907 |
Total Income | 17,494 |  |  | 15,155 |  |  | 14,255 |
Expense: |  |  |  |  |
Interest Expense | 746 |  |  | 1,024 |  |  | 976 |
Other Expense | 878 |  |  | 875 |  |  | 1,175 |
Total Expense | 1,624 |  |  | 1,899 |  |  | 2,151 |
Income Before Income Tax Benefit and Equity |  |  |  |  |
in Undistributed Net Income of Subsidiaries | 15,870 |  |  | 13,256 |  |  | 12,104 |
Income Tax Benefit | 431 |  |  | 466 |  |  | 686 |
Equity in Undistributed Net Income of Subsidiaries | 24,526 |  |  | 23,753 |  |  | 23,489 |
Net Income | $ | 40,827 |  |  | $ | 37,475 |  |  | $ | 36,279 |
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,
| 2020 |  | 2019 |  | 2018
Cash Flows from Operating Activities: |  |  |  |  |
Net Income | $ | 40,827 |  |  | $ | 37,475 |  |  | $ | 36,279 |
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: |  |  |  |  |
Undistributed Net Income of Subsidiaries | (24,526) |  |  | (23,753) |  |  | (23,489) |
Shares Issued Under the Directors’ Stock Plan | 125 |  |  | 258 |  |  | 205 |
Changes in Other Assets and Other Liabilities | (3,606) |  |  | (1,236) |  |  | (918) |
Net Cash Provided by Operating Activities | 12,820 |  |  | 12,744 |  |  | 12,077 |
Cash Flows from Financing Activities: |  |  |  |  |
Stock Options Exercised | 748 |  |  | 1,792 |  |  | 2,255 |
Shares Issued Under the Employee Stock Purchase Plan | 513 |  |  | 493 |  |  | 505 |
Shares Issued for Dividend Reinvestment Plans | 1,808 |  |  | 1,777 |  |  | 1,761 |
Purchase of Treasury Stock | (1,578) |  |  | (2,469) |  |  | (2,097) |
Cash Dividends Paid | (15,740) |  |  | (15,206) |  |  | (14,389) |
Net Cash Used in Financing Activities | (14,249) |  |  | (13,613) |  |  | (11,965) |
Net Increase (Decrease) in Cash and Cash Equivalents | (1,429) |  |  | (869) |  |  | 112 |
Cash and Cash Equivalents at Beginning of the Year | 1,429 |  |  | 2,298 |  |  | 2,186 |
Cash and Cash Equivalents at End of the Year | $ | — |  |  | $ | 1,429 |  |  | $ | 2,298 |
Supplemental Disclosures to Statements of Cash Flow Information: |  |  |  |  |
Interest Paid | $ | 746 |  |  | $ | 1,024 |  |  | $ | 976 |

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- Definition Tabular disclosure of condensed financial statements, including, but not limited to, the balance sheet, income statement, and statement of cash flows. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
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