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Leases
 12 Months Ended
Dec. 31, 2021
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]  
Leases LEASES (Dollars In Thousands)
Arrow is a lessee in its leases, which are mainly for financial services locations in addition to leases for corporate vehicles. These leases generally require the Company to pay third-party expenses on behalf of the Lessor, which are referred to as variable payments. Under some leases, the Company pays the variable payments to the lessor, and in other leases, the Company pays the variable payments directly to the applicable third party. None of the Company's current leases include any residual value guarantees or any subleases, and there are no significant rights or obligations of the Company for leases that have not commenced as of the reporting date.
Arrow leases two of its branch offices, at market rates, from Stewart’s Shops Corp.  Mr. Gary C. Dake, President of Stewart’s Shops Corp., serves as a director on the board of directors of each of Arrow and Saratoga National. Arrow also leases one administrative office from an entity controlled by Elizabeth Miller, who serves as a director on the board of directors of each of Arrow and Glens Falls National. Additional information regarding these relationships can be found in Arrow's Proxy Statement for its Annual Meeting of Shareholders to be held May 4, 2022 under the caption "Corporate Governance - Related Party Transactions."

The following includes quantitative data related to the Company's leases as of and for the twelve months ended December 31, 2021 and December 31, 2020:

Twelve Months Ended
Finance Lease Amounts:ClassificationDecember 31, 2021December 31, 2020
Right-of-Use AssetsPremises and Equipment, Net$4,814 $4,991 
Lease LiabilitiesFinance Leases5,169 5,217 
Operating Lease Amounts:
Right-of-Use AssetsOther Assets$6,941 $5,326 
Lease LiabilitiesOther Liabilities7,124 5,410 
Other Information:
Cash Paid For Amounts Included In The Measurement Of Lease Liabilities:
Operating Outgoing Cash Flows From Finance Leases$195 $196 
Operating Outgoing Cash Flows From Operating Leases794 778 
Financing Outgoing Cash Flows From Finance Leases48 37 
Right-of-Use Assets Obtained In Exchange For New Finance Lease Liabilities— — 
Right-of-Use Assets Obtained In Exchange For New Operating Lease Liabilities2,508 294 
Weighted-average Remaining Lease Term - Finance Leases (Yrs.)28.2029.17
Weighted-average Remaining Lease Term - Operating Leases (Yrs.)11.1713.05
Weighted-average Discount Rate—Finance Leases3.75 %3.75 %
Weighted-average Discount Rate—Operating Leases2.77 %3.28 %




Lease cost information for the Company's leases is as follows:
Three Months EndedTwelve Months Ended
December 31, 2021December 31, 2020December 31, 2021December 31, 2020
Lease Cost:
Finance Lease Cost:
   Reduction in the Carrying Amount of Right-of-use assets$44 $44 $177 $177 
   Interest on Lease Liabilities49 48 195 196 
Operating Lease Cost270 214 1,007 838 
Short-term Lease Cost19 8 47 40 
Variable Lease Cost67 39 270 204 
Total Lease Cost$449 $353 $1,696 $1,455 
Future Lease Payments at December 31, 2021 are as follows:
Operating
Leases
Finance
Leases
Twelve Months Ended:
12/31/2022$1,216 $243 
12/31/2023997 243 
12/31/2024756 249 
12/31/2025694 263 
12/31/2026631 268 
Thereafter4,208 7,532 
Total Undiscounted Cash Flows8,502 8,798 
Less: Net Present Value Adjustment1,378 3,629 
   Lease Liability$7,124 $5,169 
Leases LEASES (Dollars In Thousands)
Arrow is a lessee in its leases, which are mainly for financial services locations in addition to leases for corporate vehicles. These leases generally require the Company to pay third-party expenses on behalf of the Lessor, which are referred to as variable payments. Under some leases, the Company pays the variable payments to the lessor, and in other leases, the Company pays the variable payments directly to the applicable third party. None of the Company's current leases include any residual value guarantees or any subleases, and there are no significant rights or obligations of the Company for leases that have not commenced as of the reporting date.
Arrow leases two of its branch offices, at market rates, from Stewart’s Shops Corp.  Mr. Gary C. Dake, President of Stewart’s Shops Corp., serves as a director on the board of directors of each of Arrow and Saratoga National. Arrow also leases one administrative office from an entity controlled by Elizabeth Miller, who serves as a director on the board of directors of each of Arrow and Glens Falls National. Additional information regarding these relationships can be found in Arrow's Proxy Statement for its Annual Meeting of Shareholders to be held May 4, 2022 under the caption "Corporate Governance - Related Party Transactions."

The following includes quantitative data related to the Company's leases as of and for the twelve months ended December 31, 2021 and December 31, 2020:

Twelve Months Ended
Finance Lease Amounts:ClassificationDecember 31, 2021December 31, 2020
Right-of-Use AssetsPremises and Equipment, Net$4,814 $4,991 
Lease LiabilitiesFinance Leases5,169 5,217 
Operating Lease Amounts:
Right-of-Use AssetsOther Assets$6,941 $5,326 
Lease LiabilitiesOther Liabilities7,124 5,410 
Other Information:
Cash Paid For Amounts Included In The Measurement Of Lease Liabilities:
Operating Outgoing Cash Flows From Finance Leases$195 $196 
Operating Outgoing Cash Flows From Operating Leases794 778 
Financing Outgoing Cash Flows From Finance Leases48 37 
Right-of-Use Assets Obtained In Exchange For New Finance Lease Liabilities— — 
Right-of-Use Assets Obtained In Exchange For New Operating Lease Liabilities2,508 294 
Weighted-average Remaining Lease Term - Finance Leases (Yrs.)28.2029.17
Weighted-average Remaining Lease Term - Operating Leases (Yrs.)11.1713.05
Weighted-average Discount Rate—Finance Leases3.75 %3.75 %
Weighted-average Discount Rate—Operating Leases2.77 %3.28 %




Lease cost information for the Company's leases is as follows:
Three Months EndedTwelve Months Ended
December 31, 2021December 31, 2020December 31, 2021December 31, 2020
Lease Cost:
Finance Lease Cost:
   Reduction in the Carrying Amount of Right-of-use assets$44 $44 $177 $177 
   Interest on Lease Liabilities49 48 195 196 
Operating Lease Cost270 214 1,007 838 
Short-term Lease Cost19 8 47 40 
Variable Lease Cost67 39 270 204 
Total Lease Cost$449 $353 $1,696 $1,455 
Future Lease Payments at December 31, 2021 are as follows:
Operating
Leases
Finance
Leases
Twelve Months Ended:
12/31/2022$1,216 $243 
12/31/2023997 243 
12/31/2024756 249 
12/31/2025694 263 
12/31/2026631 268 
Thereafter4,208 7,532 
Total Undiscounted Cash Flows8,502 8,798 
Less: Net Present Value Adjustment1,378 3,629 
   Lease Liability$7,124 $5,169