Parent Only Financial Information

12 Months Ended

Dec. 31, 2024

Condensed Financial Information Disclosure [Abstract]

Parent Only Financial Information

PARENT ONLY FINANCIAL INFORMATION (Dollars In Thousands)

Condensed financial information for Arrow Financial Corporation is as follows:

BALANCE SHEETS	December 31,
ASSETS	2024		2023
Interest-Bearing Deposits with Arrow Bank	$	333	$	1,305
Equity Securities	2,144		1,925
Investment in Subsidiaries at Equity	401,228		381,160
Other Assets	19,159		17,185
Total Assets	$	422,864	$	401,575
LIABILITIES
Junior Subordinated Obligations Issued to     Unconsolidated Subsidiary Trusts	$	20,000	$	20,000
Other Liabilities	1,963		1,803
Total Liabilities	21,963		21,803
STOCKHOLDERS’ EQUITY
Total Stockholders’ Equity	400,901		379,772
Total Liabilities and Stockholders’ Equity	$	422,864	$	401,575

STATEMENTS OF INCOME	Years Ended December 31,
Income:	2024		2023		2022
Dividends from Bank Subsidiaries	$	25,100	$	24,000	$	19,264
Interest and Dividends on Investments	47		47		49
Other Income (Including Management Fees)	934		363		1,095
Total Income	26,081		24,410		20,408
Expense:
Interest Expense	685		685		685
Other Expense	1,325		4,280		1,030
Total Expense	2,010		4,965		1,715
Income Before Income Tax Benefit and Equity
in Undistributed Net Income of Subsidiaries	24,071		19,445		18,693
Income Tax Benefit	487		1,242		257
Equity in Undistributed Net Income of Subsidiaries	5,151		9,388		29,849
Net Income	$	29,709	$	30,075	$	48,799

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,
	2024		2023		2022
Cash Flows from Operating Activities:
Net Income	$	29,709	$	30,075	$	48,799
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Undistributed Net Income of Subsidiaries	(5,151)		(9,388)		(29,849)
Shares Issued Under the Directors’ Stock Plan	495		218		408
Changes in Other Assets and Other Liabilities	(1,673)		(229)		(754)
Net Cash Provided by Operating Activities	23,380		20,676		18,604
Cash Flows from Financing Activities:
Stock Options Exercised	433		96		631
Shares Issued Under the Employee Stock Purchase Plan	291		120		477
Shares Issued for Dividend Reinvestment Plans	—		472		1,904
Purchase of Treasury Stock	(6,790)		(3,608)		(2,872)
Cash Dividends Paid	(18,286)		(17,983)		(17,444)
Net Cash Used in Financing Activities	(24,352)		(20,903)		(17,304)
Net (Decrease) Increase in Cash and Cash Equivalents	(972)		(227)		1,300
Cash and Cash Equivalents at Beginning of the Year	1,305		1,532		232
Cash and Cash Equivalents at End of the Year	$	333	$	1,305	$	1,532
Supplemental Disclosures to Statements of   Cash Flow Information:
Interest Paid	$	685	$	685	$	685