Parent Only Financial Information (Tables)

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Schedule of Condensed Financial Statements

Condensed financial information for Arrow Financial Corporation is as follows:

BALANCE SHEETS	December 31,
ASSETS	2022		2021
Interest-Bearing Deposits with Subsidiary Banks	$	1,532	$	232
Equity Securities	2,174		1,747
Investment in Subsidiaries at Equity	354,664		377,163
Other Assets	16,458		13,061
Total Assets	$	374,828	$	392,203
LIABILITIES
Junior Subordinated Obligations Issued to     Unconsolidated Subsidiary Trusts	$	20,000	$	20,000
Other Liabilities	1,290		1,017
Total Liabilities	21,290		21,017
STOCKHOLDERS’ EQUITY
Total Stockholders’ Equity	353,538		371,186
Total Liabilities and Stockholders’ Equity	$	374,828	$	392,203

STATEMENTS OF INCOME	Years Ended December 31,
Income:	2022		2021		2020
Dividends from Bank Subsidiaries	$	19,264	$	15,994	$	17,199
Interest and Dividends on Investments	49		49		49
Other Income (Including Management Fees)	1,095		664		246
Total Income	20,408		16,707		17,494
Expense:
Interest Expense	685		686		746
Other Expense	1,030		879		878
Total Expense	1,715		1,565		1,624
Income Before Income Tax Benefit and Equity
in Undistributed Net Income of Subsidiaries	18,693		15,142		15,870
Income Tax Benefit	257		312		431
Equity in Undistributed Net Income of Subsidiaries	29,849		34,403		24,526
Net Income	$	48,799	$	49,857	$	40,827

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,
	2022		2021		2020
Cash Flows from Operating Activities:
Net Income	$	48,799	$	49,857	$	40,827
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Undistributed Net Income of Subsidiaries	(29,849)		(34,403)		(24,526)
Shares Issued Under the Directors’ Stock Plan	408		376		125
Changes in Other Assets and Other Liabilities	(754)		(462)		(3,606)
Net Cash Provided by Operating Activities	18,604		15,368		12,820
Cash Flows from Financing Activities:
Stock Options Exercised	631		1,505		748
Shares Issued Under the Employee Stock Purchase Plan	477		481		513
Shares Issued for Dividend Reinvestment Plans	1,904		1,836		1,808
Purchase of Treasury Stock	(2,872)		(2,662)		(1,578)
Cash Dividends Paid	(17,444)		(16,296)		(15,740)
Net Cash Used in Financing Activities	(17,304)		(15,136)		(14,249)
Net Increase (Decrease) in Cash and Cash Equivalents	1,300		232		(1,429)
Cash and Cash Equivalents at Beginning of the Year	232		—		1,429
Cash and Cash Equivalents at End of the Year	$	1,532	$	232	$	—
Supplemental Disclosures to Statements of   Cash Flow Information:
Interest Paid	$	685	$	686	$	746