Goodwill And Other Intangible Assets

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill And Other Intangible Assets

GOODWILL AND OTHER INTANGIBLE ASSETS (Dollars In Thousands)

The following table presents information on Arrow’s goodwill as of December 31, 2024, 2023 and 2022:

	Total Goodwill
Balance, December 31, 2021	$	21,873
Goodwill Acquired	—
Balance, December 31, 2022	21,873
Goodwill Acquired	—
Balance, December 31, 2023	21,873
Goodwill acquired related to the acquisition of the assets of A&B Agency, Inc and the Whitehall Branch	1,916
Balance, December 31, 2024	$	23,789

The following table presents information on Arrow’s other intangible assets (other than goodwill) as of December 31, 2024, 2023 and 2022:

	Depositor Intangibles1		Mortgage Servicing Rights2		Customer Intangibles1		Total
Gross Carrying Amount, December 31, 2024	$	3,202	$	3,340	$	4,786	$	11,328
Accumulated Amortization	(2,319)		(2,933)		(4,018)		(9,270)
Net Carrying Amount, December 31, 2024	$	883	$	407	$	768	$	2,058
Gross Carrying Amount, December 31, 2023	$	2,247	$	3,296	$	4,382	$	9,925
Accumulated Amortization	(2,247)		(2,725)		(3,843)		(8,815)
Net Carrying Amount, December 31, 2023	$	—	$	571	$	539	$	1,110
Rollforward of Intangible Assets:
Balance, December 31, 2021	$	—	$	1,010	$	908	$	1,918
Intangible Assets Acquired	—		10		—		10
Intangible Assets Disposed	—		—		—		—
Amortization of Intangible Assets	—		(235)		(193)		(428)
Balance, December 31, 2022	—		785		715		1,500
Intangible Assets Acquired	—		—		—		—
Intangible Assets Disposed	—		—		—		—
Amortization of Intangible Assets	—		(214)		(176)		(390)
Balance, December 31, 2023	—		571		539		1,110
Intangible Assets Acquired	955		44		404		1,403
Intangible Assets Disposed	—		—		—		—
Amortization of Intangible Assets	(72)		(208)		(175)		(455)
Balance, December 31, 2024	$	883	$	407	$	768	$	2,058

1 Amortization of depositor intangibles and customer intangibles are reported in the Consolidated Statements of Income as a component of other operating expense.

2 Amortization of mortgage servicing rights is reported in the Consolidated Statements of Income as a reduction of mortgage servicing fee income, which is included with fees for other services to customers.

The following table presents the remaining estimated annual amortization expense for Arrow's intangible assets as of December 31, 2024:

	Depositor Intangibles		Mortgage Servicing Rights		Customer Intangibles		Total
Estimated Annual Amortization Expense:
2025	$	166	$	202	$	144	$	512
2026	149		152		125		426
2027	132		33		106		271
2028	114		7		86		207
2029	97		7		67		171
2030 and beyond	225		6		240		471
Total	$	883	$	407	$	768	$	2,058