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Fair Values (Tables) | 9 Months Ended
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Sep. 30, 2021
Fair Value Disclosures [Abstract] |
Fair Value Measurements, Recurring and Nonrecurring | The table below presents the financial instrument's fair value and the amounts within the fair value hierarchy based on the lowest level of input that is significant to the fair value measurement:
Fair Value of Assets and Liabilities Measured on a Recurring and Nonrecurring Basis
|  |  | Fair Value Measurements at Reporting Date Using:
| Fair Value |  | Quoted Prices In Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Fair Value of Assets and Liabilities Measured on a Recurring Basis: |  |  |  |  |  |  |
September 30, 2021 |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |
Securities Available-for Sale: |  |  |  |  |  |  |
U.S. Government & Agency Obligations | $ | 109,305 |  |  | $ | — |  |  | $ | 109,305 |  |  | $ | — |
State and Municipal Obligations | 400 |  |  | — |  |  | 400 |  |  | — |
Mortgage-Backed Securities | 376,395 |  |  | — |  |  | 376,395 |  |  | — |
Corporate and Other Debt Securities | 800 |  |  | — |  |  | 800 |  |  | — |
Total Securities Available-for-Sale | 486,900 |  |  | — |  |  | 486,900 |  |  | — |
Equity Securities | 1,886 |  |  | — |  |  | 1,886 |  |  | — |
Total Securities Measured on a Recurring Basis | 488,786 |  |  | — |  |  | 488,786 |  |  | — |
Derivatives, included in other assets | 2,287 |  |  | — |  |  | 2,287 |  |  | — |
Total Measured on a Recurring Basis | $ | 491,073 |  |  | $ | — |  |  | $ | 491,073 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |
Derivatives, included in other liabilities | 2,287 |  |  | — |  |  | 2,287 |  |  | — |
Total Measured on a Recurring Basis | $ | 2,287 |  |  | $ | — |  |  | $ | 2,287 |  |  | $ | — |
December 31, 2020 |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |
Securities Available-for Sale: |  |  |  |  |  |  |
U.S. Government & Agency Obligations | $ | 65,112 |  |  | $ | — |  |  | $ | 65,112 |  |  | $ | — |
State and Municipal Obligations | 528 |  |  | — |  |  | 528 |  |  | — |
Mortgage-Backed Securities | 298,847 |  |  | — |  |  | 298,847 |  |  | — |
Corporate and Other Debt Securities | 800 |  |  | — |  |  | 800 |  |  | — |
Total Securities Available-for-Sale | 365,287 |  |  | — |  |  | 365,287 |  |  | — |
Equity Securities | 1,636 |  |  | — |  |  | 1,636 |  |  | — |
Fair Value of Assets and Liabilities Measured on a Recurring and Nonrecurring Basis
|  |  | Fair Value Measurements at Reporting Date Using:
| Fair Value |  | Quoted Prices In Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Total Securities Measured on a Recurring Basis | 366,923 |  |  | — |  |  | 366,923 |  |  | — |
Derivatives, included in other liabilities | 5,080 |  |  | — |  |  | 5,080 |  |  | — |
Total Measured on a Recurring Basis | $ | 372,003 |  |  | $ | — |  |  | $ | 372,003 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |
Derivatives, included in other liabilities | 5,080 |  |  | — |  |  | 5,080 |  |  | — |
Total Measured on a Recurring Basis | $ | 5,080 |  |  | $ | — |  |  | $ | 5,080 |  |  | $ | — |
September 30, 2020 |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |
Securities Available-for Sale: |  |  |  |  |  |  |
U.S. Government & Agency Obligations | $ | 35,167 |  |  | $ | — |  |  | $ | 35,167 |  |  | $ | — |
State and Municipal Obligations | 593 |  |  | — |  |  | 593 |  |  | — |
Mortgage-Backed Securities | 338,368 |  |  | — |  |  | 338,368 |  |  | — |
Corporate and Other Debt Securities | 800 |  |  | — |  |  | 800 |  |  | — |
Total Securities Available-for-Sale | 374,928 |  |  | — |  |  | 374,928 |  |  | — |
Equity Securities | 1,511 |  |  | — |  |  | 1,511 |  |  | — |
Total Securities Measured on a Recurring Basis | $ | 376,439 |  |  | $ | — |  |  | $ | 376,439 |  |  | $ | — |
Derivatives, included in other assets | 6,366 |  |  | $ | — |  |  | 6,366 |  |  | — |
Total Measured on a Recurring Basis | $ | 382,805 |  |  | $ | — |  |  | $ | 382,805 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |
Derivatives, included in other liabilities | 6,366 |  |  | — |  |  | 6,366 |  |  | — |
Total Measured on a Recurring Basis | $ | 6,366 |  |  | $ | — |  |  | $ | 6,366 |  |  | $ | — |
| Fair Value |  | Quoted Prices In Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Gains (Losses) Recognized in Earnings
Fair Value of Assets and Liabilities Measured on a Nonrecurring Basis: |  |  |  |  |  |  |  |  |
September 30, 2021 |  |  |  |  |  |  |  |  |
Collateral Dependent Evaluated Loans | $ | 2,456 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,456 |  |  |
Other Real Estate Owned and Repossessed Assets, Net | 351 |  |  | — |  |  | — |  |  | 351 |  |  | 13 |
December 31, 2020 |  |  |  |  |  |  |  |  |
Collateral Dependent Impaired Loans | $ | 594 |  |  | $ | — |  |  | $ | — |  |  | $ | 594 |  |  |
Other Real Estate Owned and Repossessed Assets, Net | 155 |  |  | — |  |  | — |  |  | 155 |  |  | — |
September 30, 2020 |  |  |  |  |  |  |  |  |
Collateral Dependent Impaired Loans | $ | 594 |  |  | $ | — |  |  | $ | — |  |  | $ | 594 |  |  |
Other Real Estate Owned and Repossessed Assets, Net | 126 |  |  | — |  |  | — |  |  | 126 |  |  | — |
Fair Value, by Balance Sheet Grouping | The following table presents a summary of the carrying amount, the fair value or an amount approximating fair value and the fair value hierarchy of Arrow’s financial instruments:
Schedule of Fair Values by Balance Sheet Grouping
|  |  |  |  | Fair Value Hierarchy
| Carrying Value |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
September 30, 2021 |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents | $ | 598,366 |  |  | $ | 598,366 |  |  | $ | 598,366 |  |  | $ | — |  |  | $ | — |
Securities Available-for-Sale | 486,900 |  |  | 486,900 |  |  | — |  |  | 486,900 |  |  | — |
Securities Held-to-Maturity | 198,337 |  |  | 203,936 |  |  | — |  |  | 203,936 |  |  | — |
Equity Securities | 1,886 |  |  | 1,886 |  |  | — |  |  | 1,886 |  |  | — |
Federal Home Loan Bank and Federal Reserve Bank Stock | 5,380 |  |  | 5,380 |  |  | — |  |  | 5,380 |  |  | — |
Net Loans | 2,627,795 |  |  | 2,632,843 |  |  | — |  |  | — |  |  | 2,632,843 |
Accrued Interest Receivable | 7,899 |  |  | 7,899 |  |  | — |  |  | 7,899 |  |  | — |
Derivatives, included in other assets | 2,287 |  |  | 2,287 |  |  |  |  | 2,287 |  |  |
Deposits | 3,605,563 |  |  | 3,604,271 |  |  | — |  |  | 3,604,271 |  |  | — |
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase | 2,426 |  |  | 2,426 |  |  | — |  |  | 2,426 |  |  | — |
Federal Home Loan Bank Term Advances | 45,000 |  |  | 45,906 |  |  | — |  |  | 45,906 |  |  | — |
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts | 20,000 |  |  | 20,000 |  |  | — |  |  | 20,000 |  |  | — |
Accrued Interest Payable | 137 |  |  | 137 |  |  | — |  |  | 137 |  |  | — |
Derivatives, included in other liabilities | 2,287 |  |  | 2,287 |  |  | — |  |  | 2,287 |  |  | — |
Schedule of Fair Values by Balance Sheet Grouping
|  |  |  |  | Fair Value Hierarchy
| Carrying Value |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
December 31, 2020 |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents | $ | 380,991 |  |  | $ | 380,991 |  |  | $ | 380,991 |  |  | $ | — |  |  | $ | — |
Securities Available-for-Sale | 365,287 |  |  | 365,287 |  |  | — |  |  | 365,287 |  |  | — |
Securities Held-to-Maturity | 218,405 |  |  | 226,576 |  |  | — |  |  | 226,576 |  |  | — |
Equity Securities | 1,636 |  |  | 1,636 |  |  | — |  |  | 1,636 |  |  |
Federal Home Loan Bank and Federal Reserve Bank Stock | 5,349 |  |  | 5,349 |  |  | — |  |  | 5,349 |  |  | — |
Net Loans | 2,565,798 |  |  | 2,558,903 |  |  | — |  |  | — |  |  | 2,558,903 |
Accrued Interest Receivable | 7,495 |  |  | 7,495 |  |  | — |  |  | 7,495 |  |  | — |
Derivatives, included in other assets | 5,080 |  |  | 5,080 |  |  | — |  |  | 5,080 |  |  | — |
Deposits | 3,234,726 |  |  | 3,234,387 |  |  | — |  |  | 3,234,387 |  |  | — |
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase | 17,486 |  |  | 17,486 |  |  | — |  |  | 17,486 |  |  | — |
Federal Home Loan Bank Term Advances | 45,000 |  |  | 46,474 |  |  | — |  |  | 46,474 |  |  | — |
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts | 20,000 |  |  | 20,000 |  |  | — |  |  | 20,000 |  |  | — |
Accrued Interest Payable | 326 |  |  | 326 |  |  | — |  |  | 326 |  |  | — |
Derivatives, included in other liabilities | 5,080 |  |  | 5,080 |  |  | — |  |  | 5,080 |  |  | — |
September 30, 2020 |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents | $ | 450,666 |  |  | $ | 450,666 |  |  | $ | 450,666 |  |  | $ | — |  |  | $ | — |
Securities Available-for-Sale | 374,928 |  |  | 374,928 |  |  | — |  |  | 374,928 |  |  | — |
Securities Held-to-Maturity | 224,799 |  |  | 233,501 |  |  | — |  |  | 233,501 |  |  | — |
Equity Securities | 1,511 |  |  | 1,511 |  |  | — |  |  | 1,511 |  |  |
Federal Home Loan Bank and Federal Reserve Bank Stock | 5,574 |  |  | 5,574 |  |  | — |  |  | 5,574 |  |  | — |
Net Loans | 2,564,009 |  |  | 2,560,043 |  |  | — |  |  | — |  |  | 2,560,043 |
Accrued Interest Receivable | 7,962 |  |  | 7,962 |  |  | — |  |  | 7,962 |  |  | — |
Derivatives, included in other assets | 6,366 |  |  | 6,366 |  |  | — |  |  | 6,366 |  |  | — |
Deposits | 3,264,858 |  |  | 3,265,208 |  |  | — |  |  | 3,265,208 |  |  | — |
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase | 73,949 |  |  | 73,949 |  |  | — |  |  | 73,949 |  |  | — |
Federal Home Loan Bank Term Advances | 50,000 |  |  | 51,576 |  |  | — |  |  | 51,576 |  |  | — |
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts | 20,000 |  |  | 20,000 |  |  | — |  |  | 20,000 |  |  | — |
Accrued Interest Payable | 841 |  |  | 841 |  |  | — |  |  | 841 |  |  | — |
Derivatives, included in other liabilities | 6,366 |  |  | 6,366 |  |  | — |  |  | 6,366 |  |  | — |

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- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI http://asc.fasb.org/extlink&oid=123874694&loc=SL7498348-110258 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bb) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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