Parent Only Financial Information

12 Months Ended

Dec. 31, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Parent Only Financial Information

PARENT ONLY FINANCIAL INFORMATION (Dollars In Thousands)

Condensed financial information for Arrow Financial Corporation is as follows:

BALANCE SHEETS	December 31,
ASSETS	2016		2015
Interest-Bearing Deposits with Subsidiary Banks	$	3,593	$	3,441
Available-for-Sale Securities	1,382		1,232
Held-to-Maturity Securities	1,000		1,000
Investment in Subsidiaries at Equity	243,031		225,934
Other Assets	7,951		7,390
Total Assets	$	256,957	$	238,997
LIABILITIES
Junior Subordinated Obligations Issued to     Unconsolidated Subsidiary Trusts	$	20,000	$	20,000
Other Liabilities	4,105		5,026
Total Liabilities	24,105		25,026
STOCKHOLDERS’ EQUITY
Total Stockholders’ Equity	232,852		213,971
Total Liabilities and Stockholders’ Equity	$	256,957	$	238,997

STATEMENTS OF INCOME	Years Ended December 31,
Income:	2016		2015		2014
Dividends from Bank Subsidiaries	$	11,650	$	13,400	$	13,300
Interest and Dividends on Investments	117		118		116
Other Income (Including Management Fees)	635		847		578
Total Income	12,402		14,365		13,994
Expense:
Interest Expense	691		619		620
Salaries and Employee Benefits	77		80		77
Other Expense	865		885		754
Total Expense	1,633		1,584		1,451
Income Before Income Tax Benefit and Equity
in Undistributed Net Income of Subsidiaries	10,769		12,781		12,543
Income Tax Benefit	482		372		473
Equity in Undistributed Net Income of Subsidiaries	15,283		11,509		10,344
Net Income	$	26,534	$	24,662	$	23,360

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,
	2016			2015			2014
Cash Flows from Operating Activities:
Net Income	$	26,534		$	24,662		$	23,360
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Undistributed Net Income of Subsidiaries	(15,283		)	(11,509		)	(10,344		)
Shares Issued Under the Directors’ Stock Plan	196			227			197
Stock-Based Compensation Expense	287			308			360
Changes in Other Assets and Other Liabilities	(1,177		)	(1,419		)	(1,014		)
Net Cash Provided by Operating Activities	10,557			12,269			12,559
Cash Flows from Investing Activities:
Proceeds from the Sale of Securities Available-for-Sale	—			47			45
Purchases of Securities Available-for-Sale	—			(47		)	(45		)
Net Cash (Used in) Provided by Investing Activities	—			—			—
Cash Flows from Financing Activities:
Stock Options Exercised	2,404			918			1,454
Shares Issued Under the Employee Stock Purchase Plan	493			494			488
Shares Issued for Dividend Reinvestment Plans	1,743			886			—
Tax Benefit for Exercises of Stock Options	188			59			25
Purchase of Treasury Stock	(2,141		)	(1,498		)	(2,455		)
Cash Dividends Paid	(13,092		)	(12,700		)	(12,407		)
Net Cash Used in Financing Activities	(10,405		)	(11,841		)	(12,895		)
Net Increase (Decrease) in Cash and Cash Equivalents	152			428			(336		)
Cash and Cash Equivalents at Beginning of the Year	3,441			3,013			3,349
Cash and Cash Equivalents at End of the Year	$	3,593		$	3,441		$	3,013
Supplemental Disclosures to Statements of   Cash Flow Information:
Interest Paid	$	691		$	619		$	620
Non-cash Investing and Financing Activities:
Shares Issued for Acquisition of Subsidiary	—			—			91