Parent Only Financial Information

12 Months Ended

Dec. 31, 2017

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	2017		2016
Interest-Bearing Deposits with Subsidiary Banks	$	2,186	$	3,593
Available-for-Sale Securities	1,562		1,382
Held-to-Maturity Securities	—		1,000
Investment in Subsidiaries at Equity	261,622		243,031
Other Assets	7,987		7,951
Total Assets	$	273,357	$	256,957
LIABILITIES
Junior Subordinated Obligations Issued to     Unconsolidated Subsidiary Trusts	$	20,000	$	20,000
Other Liabilities	3,754		4,105
Total Liabilities	23,754		24,105
STOCKHOLDERS’ EQUITY
Total Stockholders’ Equity	249,603		232,852
Total Liabilities and Stockholders’ Equity	$	273,357	$	256,957

STATEMENTS OF INCOME	Years Ended December 31,
Income:	2017		2016		2015
Dividends from Bank Subsidiaries	$	12,800	$	11,650	$	13,400
Interest and Dividends on Investments	53		117		118
Other Income (Including Management Fees)	677		635		847
Total Income	13,530		12,402		14,365
Expense:
Interest Expense	781		691		619
Salaries and Employee Benefits	76		77		80
Other Expense	882		865		885
Total Expense	1,739		1,633		1,584
Income Before Income Tax Benefit and Equity
in Undistributed Net Income of Subsidiaries	11,791		10,769		12,781
Income Tax Benefit	225		482		372
Equity in Undistributed Net Income of Subsidiaries	17,310		15,283		11,509
Net Income	$	29,326	$	26,534	$	24,662

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,
	2017			2016			2015
Cash Flows from Operating Activities:
Net Income	$	29,326		$	26,534		$	24,662
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Undistributed Net Income of Subsidiaries	(17,310		)	(15,283		)	(11,509		)
Shares Issued Under the Directors’ Stock Plan	233			196			227
Stock-Based Compensation Expense	351			287			308
Changes in Other Assets and Other Liabilities	(1,530		)	(1,177		)	(1,419		)
Net Cash Provided by Operating Activities	11,070			10,557			12,269
Cash Flows from Investing Activities:
Proceeds from the Sale of Securities Available-for-Sale	—			—			47
Purchases of Securities Available-for-Sale	—			—			(47		)
Proceeds of Securities Held-to-Maturity	1,000			—			—
Net Cash Provided by Investing Activities	1,000			—			—
Cash Flows from Financing Activities:
Stock Options Exercised	1,190			2,404			918
Shares Issued Under the Employee Stock Purchase Plan	496			493			494
Shares Issued for Dividend Reinvestment Plans	1,684			1,743			886
Tax Benefit for Exercises of Stock Options	—			188			59
Purchase of Treasury Stock	(3,248		)	(2,141		)	(1,498		)
Cash Dividends Paid	(13,599		)	(13,092		)	(12,700		)
Net Cash Used in Financing Activities	(13,477		)	(10,405		)	(11,841		)
Net Increase (Decrease) in Cash and Cash Equivalents	(1,407		)	152			428
Cash and Cash Equivalents at Beginning of the Year	3,593			3,441			3,013
Cash and Cash Equivalents at End of the Year	$	2,186		$	3,593		$	3,441
Supplemental Disclosures to Statements of   Cash Flow Information:
Interest Paid	$	781		$	691		$	619