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Fair Values (Tables)
3 Months Ended
Mar. 31, 2019
Fair Value Disclosures [Abstract]  
Fair Value Measurements, Recurring and Nonrecurring
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)
Fair Value of Assets and Liabilities Measured on a Recurring Basis:
 
 
 
 
 
 
 
March 31, 2019
 
 
 
 
 
 
 
Securities Available-for Sale:
 
 
 
 
 
 
 
U.S. Government & Agency Obligations
$
35,383

 
$

 
$
35,383

 
$

State and Municipal Obligations
1,116

 

 
1,116

 

Mortgage-Backed Securities
261,513

 

 
261,513

 

Corporate and Other Debt Securities
800

 

 
800

 

  Total Securities Available-for-Sale
298,812

 

 
298,812

 

Equity Securities
1,850

 

 
1,850

 

  Total Securities Measured on a Recurring Basis
$
300,662

 
$

 
$
300,662

 
$

December 31, 2018
 
 
 
 
 
 
 
Securities Available-for Sale:
 
 
 
 
 
 
 
U.S. Government & Agency Obligations
$
46,765

 
$

 
$
46,765

 
$

State and Municipal Obligations
1,195

 

 
1,195

 

Mortgage-Backed Securities
268,775

 

 
268,775

 

Corporate and Other Debt Securities
800

 

 
800

 

  Total Securities Available-for-Sale
317,535

 
 
 
317,535

 
 
Equity Securities
1,774

 

 
1,774

 

  Total Securities Measured on a Recurring Basis
$
319,309

 
$

 
$
319,309

 
$

March 31, 2018
 
 
 
 
 
 
 
Securities Available-for Sale:
 
 
 
 
 
 
 
U.S. Government & Agency Obligations
$
59,657

 
$

 
$
59,657

 
$

State and Municipal Obligations
9,743

 

 
9,743

 

Mortgage-Backed Securities
235,389

 

 
235,389

 

Corporate and Other Debt Securities
800

 

 
800

 

  Total Securities Available-for-Sale
305,589

 
 
 
305,589

 
 
Equity Securities
1,579

 

 
1,579

 

  Total Securities Measured on a Recurring Basis
$
307,168

 
$

 
$
307,168

 
$

 
 
 
 
 
 
 
 


 
Fair Value
 
Quoted Prices
In Active Markets for Identical Assets
(Level 1)
 
Significant Other
Observable Inputs
(Level 2)
 
Significant Unobservable Inputs
(Level 3)
 
Life-to-Date Gains (Losses)
Fair Value of Assets and Liabilities Measured on a Nonrecurring Basis:
 
 
 
 
 
 
 
 
 
March 31, 2019
 
 
 
 
 
 
 
 
 
Collateral Dependent Impaired Loans
$
684

 
$

 
$

 
$
684

 
$

Other Real Estate Owned and Repossessed Assets, Net
1,445

 

 

 
1,445

 
(826
)
December 31, 2018
 
 
 
 
 
 
 
 
 
Collateral Dependent Impaired Loans
$

 
$

 
$

 
$

 
$

Other Real Estate Owned and Repossessed Assets, Net
1,260

 

 

 
1,260

 
(669
)
March 31, 2018
 
 
 
 
 
 
 
 
 
Collateral Dependent Impaired Loans
$
1,295

 
$

 
$

 
$
1,295

 
$
(58
)
Other Real Estate Owned and Repossessed Assets, Net
1,647

 

 

 
1,647

 
(582
)
Fair Value, by Balance Sheet Grouping
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 Value
 
Fair Value
 
Level 1
 
Level 2
 
Level 3
March 31, 2019
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
$
61,229

 
$
61,229

 
$
61,229

 
$

 
$

Securities Available-for-Sale
298,812

 
298,812

 

 
298,812

 

Securities Held-to-Maturity
279,400

 
280,414

 

 
280,414

 

Equity Securities
1,850

 
1,850

 

 
1,850

 

Federal Home Loan Bank and Federal
  Reserve Bank Stock
7,878

 
7,878

 

 
7,878

 

Net Loans
2,214,835

 
2,164,298

 

 

 
2,164,298

Accrued Interest Receivable
8,180

 
8,180

 

 
8,180

 

Deposits
2,490,097

 
2,484,479

 

 
2,484,479

 

Federal Funds Purchased and Securities
  Sold Under Agreements to Repurchase
58,407

 
58,407

 

 
58,407

 

Federal Home Loan Bank Overnight Advances
74,500

 
74,500

 

 
74,500

 

Federal Home Loan Bank Term Advances
35,000

 
34,805

 

 
34,805

 

Junior Subordinated Obligations Issued
  to Unconsolidated Subsidiary Trusts
20,000

 
20,000

 

 
20,000

 

Accrued Interest Payable
737

 
737

 

 
737

 

 
 
 
 
 
 
 
 
 
 
December 31, 2018
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
$
84,239

 
$
84,239

 
$
84,239

 
$

 
$

Securities Available-for-Sale
317,535

 
317,535

 

 
317,535

 

Securities Held-to-Maturity
283,476

 
280,338

 

 
280,338

 

Equity Securities
1,774

 
1,774

 
 
 
1,774

 
 
Federal Home Loan Bank and Federal
  Reserve Bank Stock
15,506

 
15,506

 

 
15,506

 

Net Loans
2,176,019

 
2,114,372

 

 

 
2,114,372

Accrued Interest Receivable
7,035

 
7,035

 

 
7,035

 

Deposits
2,345,584

 
2,338,410

 

 
2,338,410

 

Federal Funds Purchased and Securities
  Sold Under Agreements to Repurchase
54,659

 
54,659

 

 
54,659

 

Federal Home Loan Bank Overnight Advances
234,000

 
234,000

 

 
234,000

 

Federal Home Loan Bank Term Advances
45,000

 
44,652

 

 
44,652

 

Junior Subordinated Obligations Issued
  to Unconsolidated Subsidiary Trusts
20,000

 
20,000

 

 
20,000

 

Accrued Interest Payable
570

 
570

 

 
570

 

 
 
 
 
 
 
 
 
 
 
March 31, 2018
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
$
100,272

 
$
100,272

 
$
100,272

 
$

 
$

Securities Available-for-Sale
305,589

 
305,589

 

 
305,589

 

Securities Held-to-Maturity
330,124

 
324,937

 

 
324,937

 

Equity Securities
1,579

 
1,579

 

 
1,579

 
 
Federal Home Loan Bank and Federal
  Reserve Bank Stock
4,780

 
4,780

 

 
4,780

 

Net Loans
1,973,980

 
1,915,978

 

 

 
1,915,978

Accrued Interest Receivable
7,662

 
7,692

 

 
7,692

 

Deposits
2,411,273

 
2,402,122

 

 
2,402,122

 

Federal Funds Purchased and Securities
  Sold Under Agreements to Repurchase
74,957

 
74,957

 

 
74,957

 

Federal Home Loan Bank Term Advances
45,000

 
44,484

 

 
44,484

 

Junior Subordinated Obligations Issued
  to Unconsolidated Subsidiary Trusts
20,000

 
20,000

 

 
20,000

 

Accrued Interest Payable
361

 
361

 

 
361