XML 55 R26.htm IDEA: XBRL DOCUMENT v2.4.0.8
Fair Value of Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2014
Fair Value Disclosures [Abstract]  
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]
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)
 
Total Gains (Losses)
Fair Value of Assets and Liabilities Measured on a Recurring Basis:
 
 
 
 
 
 
 
 
 
September 30, 2014
 
 
 
 
 
 
 
 
 
Securities Available-for Sale:
 
 
 
 
 
 
 
 
 
U.S. Agency Obligations
$
134,051

 
$
—

 
$
134,051

 
$
—

 
 
State and Municipal Obligations
92,150

 
—

 
92,150

 
—

 
 
Mortgage-Backed Securities - Residential
130,101

 
—

 
130,101

 
—

 
 
Corporate and Other Debt Securities
16,756

 
—

 
16,756

 
—

 
 
Mutual Funds and Equity Securities
1,277

 
—

 
1,277

 
—

 
 
  Total Securities Available-for-Sale
$
374,335

 
$
—

 
$
374,335

 
$
—

 
 
December 31, 2013
 
 
 
 
 
 
 
 
 
Securities Available-for Sale:
 
 
 
 
 
 
 
 
 
U.S. Agency Obligations
$
136,475

 
$
—

 
$
136,475

 
$
—

 
 
State and Municipal Obligations
127,389

 
—

 
127,389

 
—

 
 
Mortgage-Backed Securities - Residential
175,778

 
—

 
175,778

 
—

 
 
Corporate and Other Debt Securities
16,798

 
—

 
16,798

 
—

 
 
Mutual Funds and Equity Securities
1,166

 
—

 
1,166

 
—

 
 
Total Securities Available-for Sale
$
457,606

 
$
—

 
$
457,606

 
$
—

 
 
September 30, 2013
 
 
 
 
 
 
 
 
 
Securities Available-for Sale:
 
 
 
 
 
 
 
 
 
U.S. Agency Obligations
$
149,774

 
$
—

 
$
149,774

 
$
—

 
 
State and Municipal Obligations
133,919

 
—

 
133,919

 
—

 
 
Mortgage-Backed Securities - Residential
185,215

 
—

 
185,215

 
—

 
 
Corporate and Other Debt Securities
16,798

 
—

 
16,798

 
—

 
 
Mutual Funds and Equity Securities
1,182

 
—

 
1,182

 
—

 
 
Total Securities Available-for Sale
$
486,888

 
$
—

 
$
486,888

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
Fair Value of Assets and Liabilities Measured on a Nonrecurring Basis:
 
 
 
 
 
 
 
 
 
September 30, 2014
 
 
 
 
 
 
 
 
 
Other Real Estate Owned and Repossessed Assets, Net
$
392

 
$
—

 
$
—

 
$
392

 
$
(139
)
Impaired Loans
533

 
—

 
—

 
533

 
(82
)
December 31, 2013

 
 
 
 
 
 
 
 
Other Real Estate Owned and Repossessed Assets, Net
$
144

 
$
—

 
$
—

 
$
144

 
$
(79
)
September 30, 2013

 
 
 
 
 
 
 
 
Other Real Estate Owned and Repossessed Assets, Net
$
499

 
$
—

 
$
—

 
$
499

 
$
(180
)
Fair Value, by Balance Sheet Grouping [Table Text Block]
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
Amount
 
Fair
Value
 
Level 1
 
Level 2
 
Level 3
September 30, 2014
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
$
64,664

 
$
64,664

 
$
64,664

 
$
—

 
$
—

Securities Available-for-Sale
374,335

 
374,335

 
—

 
374,335

 
—

Securities Held-to-Maturity
296,522

 
302,567

 
—

 
302,567

 
—

Federal Home Loan Bank and Federal
  Reserve Bank Stock
3,001

 
3,001

 
3,001

 
—

 
—

Net Loans
1,366,147

 
1,371,368

 
—

 
—

 
1,371,368

Accrued Interest Receivable
6,629

 
6,629

 
6,629

 
—

 
—

Deposits
1,935,356

 
1,929,377

 
1,709,155

 
220,222

 
—

Federal Funds Purchased and Securities
  Sold Under Agreements to Repurchase
19,654

 
19,654

 
19,654

 
—

 
—

Federal Home Loan Bank Term Advances
10,000

 
10,340

 
10,340

 
—

 
—

Junior Subordinated Obligations Issued
  to Unconsolidated Subsidiary Trusts
20,000

 
20,000

 
—

 
20,000

 
—

Accrued Interest Payable
357

 
357

 
357

 
—

 
—

 
 
 
 
 
 
 
 
 
 
December 31, 2013
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
$
49,980

 
$
49,980

 
$
49,980

 
$
—

 
$
—

Securities Available-for-Sale
457,606

 
457,606

 
—

 
457,606

 
—

Securities Held-to-Maturity
299,261

 
302,305

 
—

 
302,305

 
—

Federal Home Loan Bank and Federal
  Reserve Bank Stock
6,281

 
6,281

 
6,281

 
—

 
—

Net Loans
1,252,038

 
1,266,020

 
—

 
—

 
1,266,020

Accrued Interest Receivable
5,745

 
5,745

 
5,745

 
—

 
—

Deposits
1,842,330

 
1,839,613

 
1,595,103

 
244,510

 
—

Federal Funds Purchased and Securities
  Sold Under Agreements to Repurchase
11,777

 
11,777

 
11,777

 
—

 
—

Federal Home Loan Bank Term Advances
73,000

 
74,629

 
53,000

 
21,629

 
—

Junior Subordinated Obligations Issued
  to Unconsolidated Subsidiary Trusts
20,000

 
20,000

 
—

 
20,000

 
—

Accrued Interest Payable
439

 
439

 
439

 
—

 
—

 
 
 
 
 
 
 
 
 
 
September 30, 2013
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
$
72,052

 
$
72,052

 
$
72,052

 
$
—

 
$
—

Securities Available-for-Sale
486,888

 
486,888

 
—

 
486,888

 
—

Securities Held-to-Maturity
273,626

 
278,390

 
—

 
278,390

 
—

Federal Home Loan Bank and Federal
  Reserve Bank Stock
3,896

 
3,896

 
3,896

 
—

 
—

Net Loans
1,228,786

 
1,246,005

 
—

 
—

 
1,246,005

Accrued Interest Receivable
6,614

 
6,614

 
6,614

 
—

 
—

Deposits
1,895,375

 
1,891,086

 
1,635,549

 
255,537

 
—

Federal Funds Purchased and Securities
  Sold Under Agreements to Repurchase
15,977

 
15,977

 
15,977

 
—

 
—

Federal Home Loan Bank Term Advances
20,000

 
20,823

 
—

 
20,823

 
—

Junior Subordinated Obligations Issued
  to Unconsolidated Subsidiary Trusts
20,000

 
20,000

 
—

 
20,000

 
—

Accrued Interest Payable
472

 
472

 
472

 
—

 
—