XML 38 R26.htm IDEA: XBRL DOCUMENT v3.4.0.3
Fair Value of Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2016
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:
 
 
 
 
 
 
 
 
 
March 31, 2016
 
 
 
 
 
 
 
 
 
Securities Available-for Sale:
 
 
 
 
 
 
 
 
 
U.S. Agency Obligations
$
157,646

 
$

 
$
157,646

 
$

 
 
State and Municipal Obligations
49,543

 

 
49,543

 

 
 
Mortgage-Backed Securities - Residential
168,110

 

 
168,110

 

 
 
Corporate and Other Debt Securities
11,715

 

 
11,715

 

 
 
Mutual Funds and Equity Securities
1,233

 

 
1,233

 

 
 
  Total Securities Available-for-Sale
$
388,247

 
$

 
$
388,247

 
$

 
 
December 31, 2015
 
 
 
 
 
 
 
 
 
Securities Available-for Sale:
 
 
 
 
 
 
 
 
 
U.S. Agency Obligations
$
155,782

 
$

 
$
155,782

 
$

 
 
State and Municipal Obligations
52,408

 

 
52,408

 

 
 
Mortgage-Backed Securities - Residential
178,588

 

 
178,588

 

 
 
Corporate and Other Debt Securities
14,299

 

 
14,299

 

 
 
Mutual Funds and Equity Securities
1,232

 

 
1,232

 

 
 
Total Securities Available-for Sale
$
402,309

 
$

 
$
402,309

 
$

 
 
March 31, 2015
 
 
 
 
 
 
 
 
 
Securities Available-for Sale:
 
 
 
 
 
 
 
 
 
U.S. Agency Obligations
$
151,527

 
$

 
$
151,527

 
$

 
 
State and Municipal Obligations
74,095

 

 
74,095

 

 
 
Mortgage-Backed Securities - Residential
149,510

 

 
149,510

 

 
 
Corporate and Other Debt Securities
16,756

 

 
16,756

 

 
 
Mutual Funds and Equity Securities
1,245

 

 
1,245

 

 
 
Total Securities Available-for Sale
$
393,133

 
$

 
$
393,133

 
$

 
 
 
 
 
 
 
 
 
 
 
 
Fair Value of Assets and Liabilities Measured on a Nonrecurring Basis:
 
 
 
 
 
 
 
 
 
March 31, 2016
 
 
 
 
 
 
 
 
 
Collateral Dependent Impaired Loans
$
1,703

 
$

 
$

 
$
1,703

 
$
(260
)
Other Real Estate Owned and Repossessed Assets, Net
2,011

 

 

 
2,011

 
(784
)
December 31, 2015

 
 
 
 
 
 
 
 
Collateral Dependent Impaired Loans
2,018

 

 

 
2,018

 
(687
)
Other Real Estate Owned and Repossessed Assets, Net

 

 

 

 

March 31, 2015
 
 
 
 
 
 
 
 
 
Collateral Dependent Impaired Loans
600

 

 

 
600

 
(149
)
Other Real Estate Owned and Repossessed Assets, Net
529

 

 

 
529

 
(15
)
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 Arrows financial instruments:
Schedule of Fair Values by Balance Sheet Grouping
 
 
 
 
 
Fair Value Hierarchy
 
Carrying
Amount
 
Fair
Value
 
Level 1
 
Level 2
 
Level 3
March 31, 2016
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
$
60,711

 
$
60,711

 
$
60,711

 
$

 
$

Securities Available-for-Sale
388,247

 
388,247

 

 
388,247

 

Securities Held-to-Maturity
315,284

 
324,337

 

 
324,337

 

Federal Home Loan Bank and Federal
  Reserve Bank Stock
5,149

 
5,149

 
5,149

 

 

Net Loans
1,606,441

 
1,613,221

 

 

 
1,613,221

Accrued Interest Receivable
7,156

 
7,156

 
7,156

 

 

Deposits
2,115,061

 
2,109,546

 
1,925,905

 
183,641

 

Federal Funds Purchased and Securities
  Sold Under Agreements to Repurchase
45,155

 
45,155

 
45,155

 

 

Federal Home Loan Bank Term Advances
55,000

 
55,930

 

 
55,930

 

Junior Subordinated Obligations Issued
  to Unconsolidated Subsidiary Trusts
20,000

 
20,000

 

 
20,000

 

Accrued Interest Payable
227

 
227

 
227

 

 

 
 
 
 
 
 
 
 
 
 
December 31, 2015
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
$
51,068

 
$
51,068

 
$
51,068

 
$

 
$

Securities Available-for-Sale
402,309

 
402,309

 

 
402,309

 

Securities Held-to-Maturity
320,611

 
325,930

 

 
325,930

 

Federal Home Loan Bank and Federal
  Reserve Bank Stock
8,839

 
8,839

 
8,839

 

 

Net Loans
1,557,914

 
1,557,511

 

 

 
1,557,511

Accrued Interest Receivable
6,360

 
6,360

 
6,360

 

 

Deposits
2,030,423

 
2,024,224

 
1,840,606

 
183,618

 

Federal Funds Purchased and Securities
  Sold Under Agreements to Repurchase
23,173

 
19,421

 
19,421

 

 

Federal Home Loan Bank Term Advances
137,000

 
137,063

 
82,000

 
55,063

 

Junior Subordinated Obligations Issued
  to Unconsolidated Subsidiary Trusts
20,000

 
20,000

 

 
20,000

 

Accrued Interest Payable
231

 
231

 
231

 

 

 
 
 
 
 
 
 
 
 
 
March 31, 2015
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
$
111,595

 
$
111,595

 
$
111,595

 
$

 
$

Securities Available-for-Sale
393,133

 
393,133

 

 
393,133

 

Securities Held-to-Maturity
305,175

 
312,500

 

 
312,500

 

Federal Home Loan Bank and Federal
  Reserve Bank Stock
4,806

 
4,806

 
4,806

 

 

Net Loans
1,419,169

 
1,429,553

 

 

 
1,429,553

Accrued Interest Receivable
6,698

 
6,698

 
6,698

 

 

Deposits
2,018,704

 
2,016,098

 
1,820,165

 
195,933

 

Federal Funds Purchased and Securities
  Sold Under Agreements to Repurchase
15,895

 
15,895

 
15,895

 

 

Federal Home Loan Bank Term Advances
50,000

 
50,851

 

 
50,851

 

Junior Subordinated Obligations Issued
  to Unconsolidated Subsidiary Trusts
20,000

 
20,000

 

 
20,000

 

Accrued Interest Payable
289

 
289

 
289