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Parent Only Financial Information (Tables) | 12 Months Ended
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Dec. 31, 2022
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 | 2022 |  | 2021
Interest-Bearing Deposits with Subsidiary Banks | $ | 1,532 |  |  | $ | 232 |
Equity Securities | 2,174 |  |  | 1,747 |
Investment in Subsidiaries at Equity | 354,664 |  |  | 377,163 |
Other Assets | 16,458 |  |  | 13,061 |
Total Assets | $ | 374,828 |  |  | $ | 392,203 |
LIABILITIES |  |  |
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts | $ | 20,000 |  |  | $ | 20,000 |
Other Liabilities | 1,290 |  |  | 1,017 |
Total Liabilities | 21,290 |  |  | 21,017 |
STOCKHOLDERS’ EQUITY |  |  |
Total Stockholders’ Equity | 353,538 |  |  | 371,186 |
Total Liabilities and Stockholders’ Equity | $ | 374,828 |  |  | $ | 392,203 |
STATEMENTS OF INCOME | Years Ended December 31, |
Income: | 2022 |  | 2021 |  | 2020 |
Dividends from Bank Subsidiaries | $ | 19,264 |  |  | $ | 15,994 |  |  | $ | 17,199 |  |
Interest and Dividends on Investments | 49 |  |  | 49 |  |  | 49 |  |
Other Income (Including Management Fees) | 1,095 |  |  | 664 |  |  | 246 |  |
Total Income | 20,408 |  |  | 16,707 |  |  | 17,494 |  |
Expense: |  |  |  |  |  |
Interest Expense | 685 |  |  | 686 |  |  | 746 |  |
Other Expense | 1,030 |  |  | 879 |  |  | 878 |  |
Total Expense | 1,715 |  |  | 1,565 |  |  | 1,624 |  |
Income Before Income Tax Benefit and Equity |  |  |  |  |  |
in Undistributed Net Income of Subsidiaries | 18,693 |  |  | 15,142 |  |  | 15,870 |  |
Income Tax Benefit | 257 |  |  | 312 |  |  | 431 |  |
Equity in Undistributed Net Income of Subsidiaries | 29,849 |  |  | 34,403 |  |  | 24,526 |  |
Net Income | $ | 48,799 |  |  | $ | 49,857 |  |  | $ | 40,827 |  |
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,
| 2022 |  | 2021 |  | 2020
Cash Flows from Operating Activities: |  |  |  |  |
Net Income | $ | 48,799 |  |  | $ | 49,857 |  |  | $ | 40,827 |
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: |  |  |  |  |
Undistributed Net Income of Subsidiaries | (29,849) |  |  | (34,403) |  |  | (24,526) |
Shares Issued Under the Directors’ Stock Plan | 408 |  |  | 376 |  |  | 125 |
Changes in Other Assets and Other Liabilities | (754) |  |  | (462) |  |  | (3,606) |
Net Cash Provided by Operating Activities | 18,604 |  |  | 15,368 |  |  | 12,820 |
Cash Flows from Financing Activities: |  |  |  |  |
Stock Options Exercised | 631 |  |  | 1,505 |  |  | 748 |
Shares Issued Under the Employee Stock Purchase Plan | 477 |  |  | 481 |  |  | 513 |
Shares Issued for Dividend Reinvestment Plans | 1,904 |  |  | 1,836 |  |  | 1,808 |
Purchase of Treasury Stock | (2,872) |  |  | (2,662) |  |  | (1,578) |
Cash Dividends Paid | (17,444) |  |  | (16,296) |  |  | (15,740) |
Net Cash Used in Financing Activities | (17,304) |  |  | (15,136) |  |  | (14,249) |
Net Increase (Decrease) in Cash and Cash Equivalents | 1,300 |  |  | 232 |  |  | (1,429) |
Cash and Cash Equivalents at Beginning of the Year | 232 |  |  | — |  |  | 1,429 |
Cash and Cash Equivalents at End of the Year | $ | 1,532 |  |  | $ | 232 |  |  | $ | — |
Supplemental Disclosures to Statements of Cash Flow Information: |  |  |  |  |
Interest Paid | $ | 685 |  |  | $ | 686 |  |  | $ | 746 |

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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/2009/role/commonPracticeRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12 -Paragraph (a) -Subsection 04 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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