XML 47 R37.htm IDEA: XBRL DOCUMENT v3.23.2
Fair Values (Tables)
6 Months Ended
Jun. 30, 2023
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 ValueQuoted 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:
June 30, 2023
Assets:
Securities Available-for Sale:
   U.S. Government & Agency Obligations$176,016 $— $176,016 $— 
   State and Municipal Obligations280 — 280 — 
   Mortgage-Backed Securities366,612 — 366,612 — 
   Corporate and Other Debt Securities800 — 800 — 
Total Securities Available-for-Sale543,708 — 543,708 — 
Equity Securities1,889 — 1,889 — 
Total Securities Measured on a Recurring Basis545,597 — 545,597 — 
Derivatives, included in other assets7,457 — 7,457 — 
Total Measured on a Recurring Basis$553,054 $— $553,054 $— 
Liabilities:
Derivatives, included in other liabilities7,457 — 7,457 — 
Total Measured on a Recurring Basis$7,457 $— $7,457 $— 
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 — 
Fair Value of Assets and Liabilities Measured on a Recurring and Nonrecurring Basis
Fair Value Measurements at Reporting Date Using:
Fair ValueQuoted Prices
In Active Markets for Identical Assets
(Level 1)
Significant Other
Observable Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)
Total Securities Measured on a Recurring Basis575,669 — 575,669 — 
Derivatives, included in other liabilities7,506 — 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 $— 
June 30, 2022
Assets:
Securities Available-for Sale:
   U.S. Government & Agency Obligations$155,475 $— $155,475 $— 
   State and Municipal Obligations340 — 340 — 
   Mortgage-Backed Securities426,126 — 426,126 — 
   Corporate and Other Debt Securities800 — 800 — 
Total Securities Available-for-Sale582,741 — 582,741 — 
Equity Securities2,031 — 2,031 — 
Total Securities Measured on a Recurring Basis584,772 — 584,772 — 
Derivatives, included in other assets6,971 — 6,971 — 
Total Measured on a Recurring Basis$591,743 $— $591,743 $— 
Liabilities:
Derivatives, included in other liabilities6,971 — 6,971 — 
Total Measured on a Recurring Basis$6,971 $— $6,971 $— 
Fair ValueQuoted Prices
In Active Markets for Identical Assets
(Level 1)
Significant Other
Observable Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)
Gains (Losses) Recognized in Earnings
Fair Value of Assets and Liabilities Measured on a Nonrecurring Basis:
June 30, 2023
Collateral Dependent Evaluated Loans$— $— $— $— 
Other Real Estate Owned and Repossessed Assets, Net524 — — 524 — 
December 31, 2022
Collateral Dependent Impaired Loans$— $— $— $— 
Other Real Estate Owned and Repossessed Assets, Net593 — — 593 — 
June 30, 2022
Collateral Dependent Impaired Loans$— $— $— $— 
Other Real Estate Owned and Repossessed Assets, Net297 — — 297 — 
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 ValueFair ValueLevel 1Level 2Level 3
June 30, 2023
Cash and Cash Equivalents$173,601 $173,601 $173,601 $— $— 
Securities Available-for-Sale543,708 543,708 — 543,708 — 
Securities Held-to-Maturity143,460 139,143 — 139,143 — 
Equity Securities1,889 1,889 — 1,889 — 
Federal Home Loan Bank and Federal
  Reserve Bank Stock
4,932 4,932 — 4,932 — 
Net Loans3,038,727 2,789,225 — — 2,789,225 
Accrued Interest Receivable10,105 10,105 — 10,105 — 
Derivatives, included in other assets7,457 7,457 7,457 
Deposits3,502,224 3,496,188 — 3,496,188 — 
Borrowings171,800 170,636 — 170,636 — 
Junior Subordinated Obligations Issued
  to Unconsolidated Subsidiary Trusts
20,000 20,000 — 20,000 — 
Accrued Interest Payable3,465 3,465 — 3,465 — 
Derivatives, included in other liabilities7,457 7,457 — 7,457 — 
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 Stock
6,064 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 — 
June 30, 2022
Cash and Cash Equivalents$217,254 $217,254 $217,254 $— $— 
Securities Available-for-Sale582,741 582,741 — 582,741 — 
Securities Held-to-Maturity182,096 180,511 — 180,511 — 
Equity Securities2,031 2,031 — 2,031 
Federal Home Loan Bank and Federal
  Reserve Bank Stock
4,718 4,718 — 4,718 — 
Net Loans2,816,712 2,668,973 — — 2,668,973 
Accrued Interest Receivable8,077 8,077 — 8,077 — 
Derivatives, included in other assets6,971 6,971 — 6,971 — 
Deposits3,545,660 3,539,820 — 3,539,820 — 
Federal Home Loan Bank Term Advances25,000 24,838 — 24,838 — 
Junior Subordinated Obligations Issued
  to Unconsolidated Subsidiary Trusts
20,000 20,000 — 20,000 — 
Accrued Interest Payable107 107 — 107 — 
Derivatives, included in other liabilities6,971 6,971 — 6,971 —