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Fair Values (Tables) | 9 Months Ended
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Sep. 30, 2024
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, 2024 |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |
Securities Available-for Sale: |  |  |  |  |  |  |
U.S. Treasuries | $ | 50,024 |  |  | $ | — |  |  | $ | 50,024 |  |  | $ | — |
U.S. Government & Agency Obligations | 141,350 |  |  | — |  |  | 141,350 |  |  | $ | — |
State and Municipal Obligations | 240 |  |  | — |  |  | 240 |  |  | — |
Mortgage-Backed Securities | 244,496 |  |  | — |  |  | 244,496 |  |  | — |
Corporate and Other Debt Securities | 957 |  |  | — |  |  | 957 |  |  | — |
Total Securities Available-for-Sale | 437,067 |  |  | — |  |  | 437,067 |  |  | — |
Equity Securities | 5,089 |  |  | 2,987 |  |  | 2,102 |  |  | — |
Total Securities Measured on a Recurring Basis | 442,156 |  |  | 2,987 |  |  | 439,169 |  |  | — |
Derivative Assets | 15,198 |  |  | — |  |  | 15,198 |  |  | — |
Total Measured on a Recurring Basis | $ | 457,354 |  |  | $ | 2,987 |  |  | $ | 454,367 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |
Derivative Liabilities | 14,297 |  |  | — |  |  | 14,297 |  |  | — |
Total Measured on a Recurring Basis | $ | 14,297 |  |  | $ | — |  |  | $ | 14,297 |  |  | $ | — |
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)
December 31, 2023 |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |
Securities Available-for Sale: |  |  |  |  |  |  |
U.S. Treasuries | $ | 74,004 |  |  | $ | — |  |  | $ | 74,004 |  |  | $ | — |
U.S. Government & Agency Obligations | 152,925 |  |  | — |  |  | 152,925 |  |  | — |
State and Municipal Obligations | 280 |  |  | — |  |  | 280 |  |  | — |
Mortgage-Backed Securities | 269,760 |  |  | — |  |  | 269,760 |  |  | — |
Corporate and Other Debt Securities | 800 |  |  | — |  |  | 800 |  |  | — |
Total Securities Available-for-Sale | 497,769 |  |  | — |  |  | 497,769 |  |  | — |
Equity Securities | 1,925 |  |  | — |  |  | 1,925 |  |  | — |
Total Securities Measured on a Recurring Basis | 499,694 |  |  | — |  |  | 499,694 |  |  | — |
Derivative Assets | 12,057 |  |  | — |  |  | 12,057 |  |  | — |
Total Measured on a Recurring Basis | $ | 511,751 |  |  | $ | — |  |  | $ | 511,751 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |
Derivative Liabilities | $ | 9,598 |  |  | $ | — |  |  | $ | 9,598 |  |  | $ | — |
Total Measured on a Recurring Basis | $ | 9,598 |  |  | $ | — |  |  | $ | 9,598 |  |  | $ | — |
September 30, 2023 |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |
Securities Available-for Sale: |  |  |  |  |  |  |
U.S. Government & Agency Obligations | $ | 176,421 |  |  | $ | — |  |  | $ | 176,421 |  |  | $ | — |
State and Municipal Obligations | 280 |  |  | — |  |  | 280 |  |  | — |
Mortgage-Backed Securities | 341,739 |  |  | — |  |  | 341,739 |  |  | — |
Corporate and Other Debt Securities | 800 |  |  | — |  |  | 800 |  |  | — |
Total Securities Available-for-Sale | 519,240 |  |  | — |  |  | 519,240 |  |  | — |
Equity Securities | 1,960 |  |  | — |  |  | 1,960 |  |  | — |
Total Securities Measured on a Recurring Basis | 521,200 |  |  | — |  |  | 521,200 |  |  | — |
Derivative Assets | 8,860 |  |  | — |  |  | 8,860 |  |  | — |
Total Measured on a Recurring Basis | $ | 530,060 |  |  | $ | — |  |  | $ | 530,060 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |
Derivative Liabilities | 8,733 |  |  | — |  |  | 8,733 |  |  | — |
Total Measured on a Recurring Basis | $ | 8,733 |  |  | $ | — |  |  | $ | 8,733 |  |  | $ | — |
| 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, 2024 |  |  |  |  |  |  |  |  |
Collateral Dependent Evaluated Loans | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |
Other Real Estate Owned and Repossessed Assets, Net | 399 |  |  | — |  |  | — |  |  | 399 |  |  | — |
December 31, 2023 |  |  |  |  |  |  |  |  |
Collateral Dependent Impaired Loans | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |
Other Real Estate Owned and Repossessed Assets, Net | 312 |  |  | — |  |  | — |  |  | 312 |  |  | — |
September 30, 2023 |  |  |  |  |  |  |  |  |
Collateral Dependent Impaired Loans | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |
Other Real Estate Owned and Repossessed Assets, Net | 526 |  |  | — |  |  | — |  |  | 526 |  |  | — |
Fair Value, by Balance Sheet Grouping | The following table presents a summary of the carrying amount, the fair value (exit price) 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, 2024 |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents | $ | 340,088 |  |  | $ | 340,088 |  |  | $ | 340,088 |  |  | $ | — |  |  | $ | — |
Securities Available-for-Sale | 437,067 |  |  | 437,067 |  |  | — |  |  | 437,067 |  |  | — |
Securities Held-to-Maturity | 103,337 |  |  | 101,929 |  |  | — |  |  | 101,929 |  |  | — |
Equity Securities | 5,089 |  |  | 5,089 |  |  | 2,987 |  |  | 2,102 |  |  | — |
Federal Home Loan Bank and Federal Reserve Bank Stock | 4,352 |  |  | 4,352 |  |  | — |  |  | 4,352 |  |  | — |
Net Loans | 3,308,675 |  |  | 3,107,250 |  |  | — |  |  | — |  |  | 3,107,250 |
Accrued Interest Receivable | 12,492 |  |  | 12,492 |  |  | — |  |  | 12,492 |  |  | — |
Derivative Assets | 15,198 |  |  | 15,198 |  |  |  |  | 15,198 |  |  |
Deposits | 3,837,457 |  |  | 3,834,428 |  |  | — |  |  | 3,834,428 |  |  | — |
Borrowings | 103,600 |  |  | 103,705 |  |  | — |  |  | 103,705 |  |  | — |
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts | 20,000 |  |  | 20,000 |  |  | — |  |  | 20,000 |  |  | — |
Accrued Interest Payable | 7,468 |  |  | 7,468 |  |  | — |  |  | 7,468 |  |  | — |
Derivative Liabilities | 14,297 |  |  | 14,297 |  |  | — |  |  | 14,297 |  |  | — |
December 31, 2023 |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents | $ | 142,536 |  |  | $ | 142,536 |  |  | $ | 142,536 |  |  | $ | — |  |  | $ | — |
Securities Available-for-Sale | 497,769 |  |  | 497,769 |  |  | — |  |  | 497,769 |  |  | — |
Securities Held-to-Maturity | 131,395 |  |  | 128,837 |  |  | — |  |  | 128,837 |  |  | — |
Equity Securities | 1,925 |  |  | 1,925 |  |  |  |  | 1,925 |  |  |
Federal Home Loan Bank and Federal Reserve Bank Stock | 5,049 |  |  | 5,049 |  |  | — |  |  | 5,049 |  |  | — |
Net Loans | 3,181,643 |  |  | 2,940,318 |  |  | — |  |  | — |  |  | 2,940,318 |
Accrued Interest Receivable | 11,076 |  |  | 11,076 |  |  | — |  |  | 11,076 |  |  | — |
Derivative Assets | 12,057 |  |  | 12,057 |  |  | — |  |  | 12,057 |  |  | — |
Deposits | 3,687,566 |  |  | 3,683,122 |  |  | — |  |  | 3,683,122 |  |  | — |
Borrowings | 26,500 |  |  | 26,189 |  |  | — |  |  | 26,189 |  |  | — |
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts | 20,000 |  |  | 20,000 |  |  | — |  |  | 20,000 |  |  | — |
Accrued Interest Payable | 6,289 |  |  | 6,289 |  |  | — |  |  | 6,289 |  |  | — |
Derivative Liabilities | 9,598 |  |  | 9,598 |  |  | — |  |  | 9,598 |  |  | — |
September 30, 2023 |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents | $ | 294,739 |  |  | $ | 294,739 |  |  | $ | 294,739 |  |  | $ | — |  |  | $ | — |
Securities Available-for-Sale | 519,240 |  |  | 519,240 |  |  | — |  |  | 519,240 |  |  | — |
Securities Held-to-Maturity | 140,577 |  |  | 134,811 |  |  | — |  |  | 134,811 |  |  | — |
Equity Securities | 1,960 |  |  | 1,960 |  |  | — |  |  | 1,960 |  |  |
Federal Home Loan Bank and Federal Reserve Bank Stock | 5,110 |  |  | 5,110 |  |  | — |  |  | 5,110 |  |  | — |
Net Loans | 3,107,505 |  |  | 2,867,016 |  |  | — |  |  | — |  |  | 2,867,016 |
Accrued Interest Receivable | 11,163 |  |  | 11,163 |  |  | — |  |  | 11,163 |  |  | — |
Derivative Assets | 8,860 |  |  | 8,860 |  |  | — |  |  | 8,860 |  |  | — |
Deposits | 3,666,485 |  |  | 3,660,360 |  |  | — |  |  | 3,660,360 |  |  | — |
Borrowings | 174,300 |  |  | 173,709 |  |  | — |  |  | 173,709 |  |  | — |
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts | 20,000 |  |  | 20,000 |  |  | — |  |  | 20,000 |  |  | — |
Accrued Interest Payable | 7,432 |  |  | 7,432 |  |  | — |  |  | 7,432 |  |  | — |
Derivative Liabilities | 8,733 |  |  | 8,733 |  |  | — |  |  | 8,733 |  |  | — |

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