XML 73 R48.htm IDEA: XBRL DOCUMENT v3.23.2
Fair Values (Tables)
12 Months Ended
Dec. 31, 2022
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 of Assets and Liabilities Measured on a Recurring Basis:Fair ValueQuoted Prices
In Active Markets for Identical Assets
(Level 1)
Significant Other
Observable Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)
December 31, 2022
Assets:
Securities Available-for Sale:
U.S. Government & Agency Obligations$175,199 $— $175,199 $— 
State and Municipal Obligations340 — 340 — 
Mortgage-Backed Securities397,156 — 397,156 — 
Corporate and Other Debt Securities800 — 800 — 
  Total Securities Available-for-Sale573,495 — 573,495 $— 
Equity Securities2,174 — 2,174 — 
Total Securities Measured on a Recurring Basis575,669 — 575,669 — 
Derivatives, included in other assets7,506 — 7,506 — 
Total Measured on a Recurring Basis$583,175 $— $583,175 $— 
Liabilities:
Derivatives, included in other liabilities$7,506 $— $7,506 $— 
Total Measured on a Recurring Basis$7,506 $— $7,506 $— 
December 31, 2021
Assets:
Securities Available-for Sale:
U.S. Government & Agency Obligations$108,365 $— $108,365 $— 
State and Municipal Obligations400 — 400 — 
Mortgage-Backed Securities449,751 — 449,751 — 
Corporate and Other Debt Securities800 — 800 — 
  Total Securities Available-for-Sale559,316 559,316 
Equity Securities1,747 — 1,747 — 
Total Securities Measured on a Recurring Basis561,063 — 561,063 — 
Derivatives, included in other assets2,083 — 2,083 — 
Total Measured on a Recurring Basis$563,146 $— $563,146 $— 
Liabilities:
Derivatives, included in other liabilities$2,083 $— $2,083 $— 
Total Measured on a Recurring Basis$2,083 $— $2,083 $— 
Fair Value of Assets and Liabilities Measured on a Nonrecurring Basis:Fair ValueQuoted Prices
In Active Markets for Identical Assets
(Level 1)
Significant Other
Observable Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)
Gains (Losses) Recognized in Earnings
December 31, 2022
Collateral Dependent Impaired Loans$— $— $— $— $— 
Other Real Estate Owned and Repossessed Assets, Net593 — — 593 — 
December 31, 2021
Collateral Dependent Impaired Loans$2,457 $— $— $2,457 $— 
Other Real Estate Owned and Repossessed Assets, Net126 — — 126 — 
Fair Value, by Balance Sheet Grouping
The following table presents a summary of the carrying amount, the fair value and the fair value hierarchy of Arrow’s financial instruments:
Schedule of Fair Values by Balance Sheet Grouping
Fair Value Hierarchy
Carrying
Amount
Fair
Value
Level 1Level 2Level 3
December 31, 2022
Cash and Cash Equivalents$64,660 $64,660 $64,660 $— $— 
Securities Available-for-Sale573,495 573,495 — 573,495 — 
Securities Held-to-Maturity175,364 171,623 — 171,623 — 
Equity Securities2,174 2,174 2,174 
Federal Home Loan Bank and Federal Reserve Bank Stock6,064 6,064 — 6,064 — 
Net Loans2,953,255 2,742,721 — — 2,742,721 
Accrued Interest Receivable9,890 9,890 — 9,890 — 
Derivatives, included in other assets7,506 7,506 — 7,506 — 
Deposits3,498,364 3,492,021 — 3,492,021 — 
Federal Home Loan Bank Term Advances27,800 27,757 — 27,757 — 
Junior Subordinated Obligations Issued
  to Unconsolidated Subsidiary Trusts
20,000 20,000 — 20,000 — 
Accrued Interest Payable357 357 — 357 — 
Derivatives, included in other liabilities7,506 7,506 — 7,506 — 
December 31, 2021
Cash and Cash Equivalents$457,696 $457,696 $457,696 $— $— 
Securities Available-for-Sale559,316 559,316 — 559,316 — 
Securities Held-to-Maturity196,566 201,292 — 201,292 — 
Equity Securities1,747 1,747 — 1,747 
Federal Home Loan Bank and Federal Reserve Bank Stock5,380 5,380 — 5,380 — 
Net Loans2,640,660 2,618,311 — — 2,618,311 
Accrued Interest Receivable7,384 7,384 — 7,384 — 
Derivatives, included in other assets2,083 2,083 — 2,083 — 
Deposits3,550,497 3,548,554 — 3,548,554 — 
Federal Home Loan Bank Term Advances45,000 45,518 — 45,518 — 
Junior Subordinated Obligations Issued
  to Unconsolidated Subsidiary Trusts
20,000 20,000 — 20,000 — 
Accrued Interest Payable138 138 — 138 — 
Derivatives, included in other liabilities2,083 2,083 — 2,083 —