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Leases

12 Months Ended

Dec. 31, 2013

Leases of Lessee Disclosure [Text Block]

LEASES (Dollars In Thousands)

At December 31, 2013, Arrow was obligated under a number of noncancellable operating leases for buildings and equipment. Certain of these leases provide for escalation clauses and contain renewal options calling for increased rentals if the lease is renewed.

Net rental expense for the years ended December 31, 2013, 2012 and 2011 was as follows:



	2013		2012		2011
Net Rental Expense	$	671	$	597	$	570

Future minimum lease payments on operating leases at December 31, 2013 were as follows:



	Operating Leases
2014	$	638
2015	583
2016	440
2017	347
2018	277
Later Years	448
Total Minimum Lease Payments	$	2,733

Arrow leases five of its branch offices, at market rates, from Stewart’s Shops Corp. Mr. Gary C. Dake, President of Stewart’s Shops Corp., serves on both the boards of Arrow and Saratoga National Bank and Trust Company.

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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