falsedesktopAROW2020-09-30000071753820000201{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "Large accelerated filer\t☐\tAccelerated filer\t☑\nNon-accelerated filer\t☐\tSmaller reporting company\t☐\n\t\tEmerging growth company\t☐\nIf an emerging growth company indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standard provided pursuant to Section 13(a) of the Exchange Act. __\t\t\t☐\n", "q10k_tbl_1": "\tPage\nPART I - FINANCIAL INFORMATION\t\nItem 1. Financial Statements\t3\nItem 2. Management's Discussion and Analysis of Financial Condition and Results of Operations\t41\nItem 3. Quantitative and Qualitative Disclosures About Market Risk\t71\nItem 4. Controls and Procedures\t71\nPART II - OTHER INFORMATION\t\nItem 1. Legal Proceedings\t72\nItem 1.A. Risk Factors\t72\nItem 2. Unregistered Sales of Equity Securities and Use of Proceeds\t72\nItem 3. Defaults Upon Senior Securities\t72\nItem 4. Mine Safety Disclosures\t72\nItem 5. Other Information\t73\nItem 6. Exhibits\t73\nSIGNATURES\t74\n", "q10k_tbl_2": "\tSeptember 30 2020\tDecember 31 2019\tSeptember 30 2019\nASSETS\t\t\t\nCash and Due From Banks\t54286\t47035\t65882\nInterest-Bearing Deposits at Banks\t396380\t23186\t26416\nInvestment Securities:\t\t\t\nAvailable-for-Sale at Fair Value\t374928\t357334\t314182\nHeld-to-Maturity (Approximate Fair Value of $233501 at September 30 2020; $249618 at December 31 2019; and $259128 at September 30 2019)\t224799\t245065\t255095\nEquity Securities\t1511\t2063\t1996\nFHLB and Federal Reserve Bank Stock\t5574\t10317\t6627\nLoans\t2592455\t2386120\t2335591\nAllowance for Loan Losses\t(28446)\t(21187)\t(20931)\nNet Loans\t2564009\t2364933\t2314660\nPremises and Equipment Net\t42075\t40629\t40228\nGoodwill\t21873\t21873\t21873\nOther Intangible Assets Net\t1789\t1661\t1713\nOther Assets\t90460\t70179\t64150\nTotal Assets\t3777684\t3184275\t3112822\nLIABILITIES\t\t\t\nNoninterest-Bearing Deposits\t690232\t484944\t516876\nInterest-Bearing Checking Accounts\t912980\t689221\t801446\nSavings Deposits\t1354956\t1046568\t929691\nTime Deposits over $250000\t112555\t123968\t96770\nOther Time Deposits\t194135\t271353\t269764\nTotal Deposits\t3264858\t2616054\t2614547\nFederal Funds Purchased and Securities Sold Under Agreements to Repurchase\t73949\t51099\t72869\nFederal Home Loan Bank Overnight Advances\t0\t130000\t48000\nFederal Home Loan Bank Term Advances\t50000\t30000\t30000\nJunior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts\t20000\t20000\t20000\nFinance Leases\t5228\t5254\t5263\nOther Liabilities\t37989\t30140\t29915\nTotal Liabilities\t3452024\t2882547\t2820594\nSTOCKHOLDERS' EQUITY\t\t\t\nPreferred Stock $1 Par Value and 1000000 Shares Authorized at September 30 2020 December 31 2019 and September 30 2019\t0\t0\t0\nCommon Stock $1 Par Value; 30000000 Shares Authorized (20194474 Shares Issued at September 30 2020 and 19606449 at December 31 2019 and September 30 2019)\t20194\t19606\t19606\nAdditional Paid-in Capital\t353062\t335355\t334597\nRetained Earnings\t33434\t33218\t27375\nUnallocated ESOP Shares (None at September 30 2020 and December 31 2019 and 5151 Shares at September 30 2019)\t0\t0\t(100)\nAccumulated Other Comprehensive Loss\t(253)\t(6357)\t(8979)\nTreasury Stock at Cost (4705102 Shares at September 30 2020; 4608258 Shares at December 31 2019 and 4632657 Shares at September 30 2019)\t(80777)\t(80094)\t(80271)\nTotal Stockholders' Equity\t325660\t301728\t292228\nTotal Liabilities and Stockholders' Equity\t3777684\t3184275\t3112822\n", "q10k_tbl_3": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nINTEREST AND DIVIDEND INCOME\t\t\t\t\nInterest and Fees on Loans\t24706\t24620\t74657\t70543\nInterest on Deposits at Banks\t64\t182\t229\t572\nInterest and Dividends on Investment Securities:\t\t\t\t\nFully Taxable\t1557\t2018\t5621\t6671\nExempt from Federal Taxes\t969\t1132\t3017\t3606\nTotal Interest and Dividend Income\t27296\t27952\t83524\t81392\nINTEREST EXPENSE\t\t\t\t\nInterest-Bearing Checking Accounts\t264\t500\t1061\t1435\nSavings Deposits\t806\t2317\t4450\t5926\nTime Deposits over $250000\t292\t451\t1263\t1362\nOther Time Deposits\t576\t1255\t2360\t3099\nFederal Funds Purchased and Securities Sold Under Agreements to Repurchase\t17\t28\t55\t75\nFederal Home Loan Bank Advances\t219\t820\t865\t3513\nJunior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts\t173\t250\t574\t780\nInterest on Financing Leases\t49\t28\t148\t71\nTotal Interest Expense\t2396\t5649\t10776\t16261\nNET INTEREST INCOME\t24900\t22303\t72748\t65131\nProvision for Loan Losses\t2271\t518\t8083\t1445\nNET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES\t22629\t21785\t64665\t63686\nNONINTEREST INCOME\t\t\t\t\nIncome From Fiduciary Activities\t2265\t2212\t6613\t6571\nFees for Other Services to Customers\t2619\t2623\t7348\t7570\nInsurance Commissions\t1713\t1936\t5077\t5590\nNet (Loss) Gain on Securities\t(72)\t146\t(552)\t222\nNet Gain on Sales of Loans\t1433\t257\t2193\t501\nOther Operating Income\t739\t517\t2876\t1020\nTotal Noninterest Income\t8697\t7691\t23555\t21474\nNONINTEREST EXPENSE\t\t\t\t\nSalaries and Employee Benefits\t10408\t10015\t31003\t29061\nOccupancy Expenses Net\t1427\t1324\t4221\t4023\nTechnology and Equipment Expense\t3228\t3305\t9807\t9689\nFDIC Assessments\t309\t(480)\t770\t(56)\nOther Operating Expense\t2115\t2627\t6685\t7634\nTotal Noninterest Expense\t17487\t16791\t52486\t50351\nINCOME BEFORE PROVISION FOR INCOME TAXES\t13839\t12685\t35734\t34809\nProvision for Income Taxes\t2793\t2618\t7402\t7074\nNET INCOME\t11046\t10067\t28332\t27735\nAverage Shares Outstanding 1:\t\t\t\t\nBasic\t15472\t15404\t15453\t15375\nDiluted\t15481\t15441\t15467\t15417\nPer Common Share:\t\t\t\t\nBasic Earnings\t0.71\t0.65\t1.83\t1.80\nDiluted Earnings\t0.71\t0.65\t1.83\t1.80\n", "q10k_tbl_4": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nNet Income\t11046\t10067\t28332\t27735\nOther Comprehensive Income Net of Tax:\t\t\t\t\nNet Unrealized Securities Holding (Losses) Gains Arising During the Period\t(296)\t499\t5823\t4323\nNet Unrealized Gain on Cash Flow Hedge Agreements\t238\t0\t37\t0\nAmortization of Net Retirement Plan Actuarial Loss\t42\t127\t127\t381\nAmortization of Net Retirement Plan Prior Service Cost\t39\t42\t117\t127\nOther Comprehensive Income\t23\t668\t6104\t4831\nComprehensive Income\t11069\t10735\t34436\t32566\n", "q10k_tbl_5": "\tNine Month Period Ended September 30 2020\t\t\t\t\t\t\n\tCommon Stock\tAdditional Paid-In Capital\tRetained Earnings\tUnallo-cated ESOP Shares\tAccumu-lated Other Com- prehensive Loss\tTreasury Stock\tTotal\nBalance at December 31 2019\t19606\t335355\t33218\t0\t(6357)\t(80094)\t301728\nNet Income\t0\t0\t28332\t0\t0\t0\t28332\nOther Comprehensive Income\t0\t0\t0\t0\t6104\t0\t6104\n3% Stock Dividend (588025 Shares)\t588\t15818\t(16406)\t0\t0\t0\t0\nCash Dividends Paid $.757 per Share\t0\t0\t(11710)\t0\t0\t0\t(11710)\nStock Options Exercised Net (26039 Shares)\t0\t344\t0\t0\t0\t252\t596\nShares Issued Under the Directors' Stock Plan (4245 Shares)\t0\t83\t0\t0\t0\t42\t125\nShares Issued Under the Employee Stock Purchase Plan (13697 Shares)\t0\t260\t0\t0\t0\t132\t392\nShares Issued for Dividend Reinvestment Plans (48473 Shares)\t0\t887\t0\t0\t0\t462\t1349\nStock-Based Compensation Expense\t0\t315\t0\t0\t0\t0\t315\nPurchase of Treasury Stock (52257 Shares)\t0\t0\t0\t0\t0\t(1571)\t(1571)\nBalance at September 30 2020\t20194\t353062\t33434\t0\t(253)\t(80777)\t325660\n\tThree Month Period Ended September 30 2020\t\t\t\t\t\t\n\tCommon Stock\tAdditional Paid-In Capital\tRetained Earnings\tUnallo-cated ESOP Shares\tAccumu-lated Other Com- prehensive Loss\tTreasury Stock\tTotal\nBalance at June 30 2020\t19606\t336643\t42704\t0\t(276)\t(80990)\t317687\nNet Income\t0\t0\t11046\t0\t0\t0\t11046\nOther Comprehensive Income\t0\t0\t0\t0\t23\t0\t23\n3% Stock Dividend (588025 Shares)\t588\t15818\t(16406)\t0\t0\t0\t0\nCash Dividends Paid $.252 per Share\t0\t0\t(3910)\t0\t0\t0\t(3910)\nStock Options Exercised Net (8884 Shares)\t0\t107\t0\t0\t0\t81\t188\nShares Issued Under the Employee Stock Purchase Plan (4739 Shares)\t0\t84\t0\t0\t0\t43\t127\nShares Issued for Dividend Reinvestment Plans (16443 Shares)\t0\t304\t0\t0\t0\t153\t457\nStock-Based Compensation Expense\t0\t106\t0\t0\t0\t0\t106\nPurchase of Treasury Stock (2236 Shares)\t0\t0\t0\t0\t0\t(64)\t(64)\nBalance at September 30 2020\t20194\t353062\t33434\t0\t(253)\t(80777)\t325660\n", "q10k_tbl_6": "\tNine Month Period Ended September 30 2019\t\t\t\t\t\t\n\tCommon Stock\tAdditional Paid-In Capital\tRetained Earnings\tUnallo-cated ESOP Shares\tAccumu-lated Other Com- prehensive Loss\tTreasury Stock\tTotal\nBalance at December 31 2018\t19035\t314533\t29257\t(100)\t(13810)\t(79331)\t269584\nNet Income\t0\t0\t27735\t0\t0\t0\t27735\nOther Comprehensive Income\t0\t0\t0\t0\t4831\t0\t4831\n3% Stock Dividend (570884 Shares)\t571\t17737\t(18308)\t0\t0\t0\t0\nCash Dividends Paid $.735 per Share 1\t0\t0\t(11309)\t0\t0\t0\t(11309)\nStock Options Exercised Net (76775 Shares)\t0\t802\t0\t0\t0\t838\t1640\nShares Issued Under the Directors' Stock Plan (3997 Shares)\t0\t86\t0\t0\t0\t44\t130\nShares Issued Under the Employee Stock Purchase Plan (11403 Shares)\t0\t236\t0\t0\t0\t124\t360\nShares Issued for Dividend Reinvestment Plans (39078 Shares)\t0\t911\t0\t0\t0\t422\t1333\nStock-Based Compensation Expense\t0\t292\t0\t0\t0\t0\t292\nPurchase of Treasury Stock (70711 Shares)\t0\t0\t0\t0\t0\t(2368)\t(2368)\nBalance at September 30 2019\t19606\t334597\t27375\t(100)\t(8979)\t(80271)\t292228\n", "q10k_tbl_7": "\tThree Month Period Ended September 30 2019\t\t\t\t\t\t\n\tCommon Stock\tAdditional Paid-In Capital\tRetained Earnings\tUnallo-cated ESOP Shares\tAccumu-lated Other Com- prehensive Loss\tTreasury Stock\tTotal\nBalance at June 30 2019\t19035\t316229\t39397\t(100)\t(9647)\t(80265)\t284649\nNet Income\t0\t0\t10067\t0\t0\t0\t10067\nOther Comprehensive Income\t0\t0\t0\t0\t668\t0\t668\n3% Stock Dividend (570884 Shares)\t571\t17737\t(18308)\t0\t0\t0\t0\nCash Dividends Paid $.245 per Share 1\t0\t0\t(3781)\t0\t0\t0\t(3781)\nStock Options Exercised Net (14063 Shares)\t0\t164\t0\t0\t0\t151\t315\nShares Issued Under the Employee Stock Purchase Plan (3455 Shares)\t0\t73\t0\t0\t0\t37\t110\nShares Issued for Dividend Reinvestment Plans (12380 Shares)\t0\t296\t0\t0\t0\t133\t429\nStock-Based Compensation Expense\t0\t98\t0\t0\t0\t0\t98\nPurchase of Treasury Stock (10151 Shares)\t0\t0\t0\t0\t0\t(327)\t(327)\nBalance at September 30 2019\t19606\t334597\t27375\t(100)\t(8979)\t(80271)\t292228\n", "q10k_tbl_8": "\tNine Months Ended September 30\t\nCash Flows from Operating Activities:\t2020\t2019\nNet Income\t28332\t27735\nAdjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:\t\t\nProvision for Loan Losses\t8083\t1445\nDepreciation and Amortization\t4669\t3994\nNet Loss (Gain) on Securities Transactions\t552\t(222)\nLoans Originated and Held-for-Sale\t(60335)\t(20612)\nProceeds from the Sale of Loans Held-for-Sale\t52099\t19424\nNet Gain on the Sale of Loans\t(2193)\t(501)\nNet (Gain) Loss on the Sale of Premises and Equipment Other Real Estate Owned and Repossessed Assets\t(157)\t798\nContributions to Retirement Benefit Plans\t(540)\t(492)\nDeferred Income Tax Benefit\t(2255)\t(644)\nShares Issued Under the Directors' Stock Plan\t125\t130\nStock-Based Compensation Expense\t315\t292\nTax Benefit from Exercise of Stock Options\t41\t199\nNet Increase in Other Assets\t(5924)\t(9302)\nNet Increase in Other Liabilities\t4751\t10480\nNet Cash Provided By Operating Activities\t27563\t32724\nCash Flows from Investing Activities:\t\t\nProceeds from the Maturities and Calls of Securities Available-for-Sale\t75449\t79077\nPurchases of Securities Available-for-Sale\t(86832)\t(70418)\nProceeds from the Maturities and Calls of Securities Held-to-Maturity\t26570\t31161\nPurchases of Securities Held-to-Maturity\t(6848)\t(3398)\nNet Increase in Loans\t(197577)\t(140360)\nProceeds from the Sales of Premises and Equipment Other Real Estate Owned and Repossessed Assets\t2332\t1282\nPurchase of Premises and Equipment\t(3639)\t(6698)\nNet Decrease in Other Investments\t4743\t8879\nPurchase of Bank Owned Life Insurance\t(12000)\t0\nNet Cash Used By Investing Activities\t(197802)\t(100475)\nCash Flows from Financing Activities:\t\t\nNet Increase in Deposits\t648804\t268963\nNet Decrease in Short-Term Federal Home Loan Bank Borrowings\t(130000)\t(186000)\nNet Increase in Short-Term Borrowings\t22850\t18210\nFinance Lease Payments\t(26)\t(19)\nFederal Home Loan Bank Advances\t40000\t0\nRepayments of Federal Home Loan Bank Term Advances\t(20000)\t(15000)\nPurchase of Treasury Stock\t(1571)\t(2368)\nStock Options Exercised Net\t596\t1640\nShares Issued Under the Employee Stock Purchase Plan\t392\t360\nShares Issued for Dividend Reinvestment Plans\t1349\t1333\nCash Dividends Paid\t(11710)\t(11309)\nNet Cash Provided By Financing Activities\t550684\t75810\nNet Increase in Cash and Cash Equivalents\t380445\t8059\nCash and Cash Equivalents at Beginning of Period\t70221\t84239\nCash and Cash Equivalents at End of Period\t450666\t92298\nSupplemental Disclosures to Statements of Cash Flow Information:\t\t\nInterest on Deposits and Borrowings\t11367\t15329\nIncome Taxes\t8369\t7131\nNon-cash Investing and Financing Activity:\t\t\nTransfer of Loans to Other Real Estate Owned and Repossessed Assets\t711\t1530\n", "q10k_tbl_9": "Available-For-Sale Securities\t\t\t\t\n\tU.S. Government & Agency Obligations\tState and Municipal Obligations\tMortgage- Backed Securities\tCorporate and Other Debt Securities\t\t\t\tTotal Available- For-Sale Securities\t\t\nSeptember 30 2020\t\t\t\t\t\t\t\t\t\t\nAvailable-For-Sale Securities at Amortized Cost\t35001\t593\t329887\t1000\t\t\t\t366481\t\t\nGross Unrealized Gains\t184\t0\t8700\t0\t\t\t\t8884\t\t\nGross Unrealized Losses\t(18)\t0\t(219)\t(200)\t\t\t\t(437)\t\t\nAvailable-For-Sale Securities at Fair Value\t35167\t593\t338368\t800\t\t\t\t374928\t\t\nAvailable-For-Sale Securities Pledged as Collateral at Fair Value\t\t\t\t\t\t\t\t308879\t\t\nMaturities of Debt Securities at Amortized Cost:\t\t\t\t\t\t\t\t\t\t\nWithin One Year\t0\t68\t7383\t0\t\t\t\t7451\t\t\nFrom 1 - 5 Years\t20001\t125\t297144\t0\t\t\t\t317270\t\t\nFrom 5 - 10 Years\t15000\t400\t25360\t1000\t\t\t\t41760\t\t\nOver 10 Years\t0\t0\t0\t0\t\t\t\t0\t\t\nMaturities of Debt Securities at Fair Value:\t\t\t\t\t\t\t\t\t\t\nWithin One Year\t0\t68\t7575\t0\t\t\t\t7643\t\t\nFrom 1 - 5 Years\t20171\t125\t305562\t0\t\t\t\t325858\t\t\nFrom 5 - 10 Years\t14996\t400\t25231\t800\t\t\t\t41427\t\t\nOver 10 Years\t0\t0\t0\t0\t\t\t\t0\t\t\nSecurities in a Continuous Loss Position at Fair Value:\t\t\t\t\t\t\t\t\t\t\nLess than 12 Months\t29982\t0\t13847\t0\t\t\t\t43829\t\t\n12 Months or Longer\t0\t0\t54239\t800\t\t\t\t55039\t\t\nTotal\t29982\t0\t68086\t800\t\t\t\t98868\t\t\nNumber of Securities in a Continuous Loss Position\t4\t0\t26\t1\t\t\t\t31\t\t\nUnrealized Losses on Securities in a Continuous Loss Position:\t\t\t\t\t\t\t\t\t\t\nLess than 12 Months\t18\t0\t36\t0\t\t\t\t54\t\t\n12 Months or Longer\t0\t0\t183\t200\t\t\t\t383\t\t\nTotal\t18\t0\t219\t200\t\t\t\t437\t\t\nDisaggregated Details:\t\t\t\t\t\t\t\t\t\t\nUS Agency Obligations at Amortized Cost\t35001\t\t\t\t\t\t\t\t\t\nUS Agency Obligations at Fair Value\t35167\t\t\t\t\t\t\t\t\t\nUS Government Agency Securities at Amortized Cost\t\t\t69575\t\t\t\t\t\t\t\nUS Government Agency Securities at Fair Value\t\t\t69407\t\t\t\t\t\t\t\nGovernment Sponsored Entity Securities at Amortized Cost\t\t\t260312\t\t\t\t\t\t\t\nGovernment Sponsored Entity Securities at Fair Value\t\t\t268961\t\t\t\t\t\t\t\n", "q10k_tbl_10": "Available-For-Sale Securities\t\t\t\t\n\tU.S. Government & Agency Obligations\tState and Municipal Obligations\tMortgage- Backed Securities\tCorporate and Other Debt Securities\t\t\t\tTotal Available- For-Sale Securities\t\t\nDecember 31 2019\t\t\t\t\t\t\t\t\t\t\nAvailable-For-Sale Securities at Amortized Cost\t5002\t764\t349944\t1000\t\t\t\t356710\t\t\nGross Unrealized Gains\t52\t0\t1852\t0\t\t\t\t1904\t\t\nGross Unrealized Losses\t0\t0\t(1080)\t(200)\t\t\t\t(1280)\t\t\nAvailable-For-Sale Securities at Fair Value\t5054\t764\t350716\t800\t\t\t\t357334\t\t\nAvailable-For-Sale Securities Pledged as Collateral at Fair Value\t\t\t\t\t\t\t\t164426\t\t\nSecurities in a Continuous Loss Position at Fair Value:\t\t\t\t\t\t\t\t\t\t\nLess than 12 Months\t0\t0\t52491\t0\t\t\t\t52491\t\t\n12 Months or Longer\t0\t0\t97164\t800\t\t\t\t97964\t\t\nTotal\t0\t0\t149655\t800\t\t\t\t150455\t\t\nNumber of Securities in a Continuous Loss Position\t0\t0\t54\t1\t\t\t\t55\t\t\nUnrealized Losses on Securities in a Continuous Loss Position:\t\t\t\t\t\t\t\t\t\t\nLess than 12 Months\t0\t0\t317\t0\t\t\t\t317\t\t\n12 Months or Longer\t0\t0\t763\t200\t\t\t\t963\t\t\nTotal\t0\t0\t1080\t200\t\t\t\t1280\t\t\nDisaggregated Details:\t\t\t\t\t\t\t\t\t\t\nUS Agency Obligations at Amortized Cost\t5002\t\t\t\t\t\t\t\t\t\nUS Agency Obligations at Fair Value\t5054\t\t\t\t\t\t\t\t\t\nUS Government Agency Securities at Amortized Cost\t\t\t61102\t\t\t\t\t\t\t\nUS Government Agency Securities at Fair Value\t\t\t60616\t\t\t\t\t\t\t\nGovernment Sponsored Entity Securities at Amortized Cost\t\t\t288842\t\t\t\t\t\t\t\nGovernment Sponsored Entity Securities at Fair Value\t\t\t290100\t\t\t\t\t\t\t\n", "q10k_tbl_11": "Available-For-Sale Securities\t\t\t\t\n\tU.S. Government & Agency Obligations\tState and Municipal Obligations\tMortgage- Backed Securities\tCorporate and Other Debt Securities\t\t\t\tTotal Available- For-Sale Securities\t\t\nSeptember 30 2019\t\t\t\t\t\t\t\t\t\t\nAvailable-For-Sale Securities at Amortized Cost\t5003\t965\t306374\t1000\t\t\t\t313342\t\t\nGross Unrealized Gains\t53\t0\t1482\t0\t\t\t\t1535\t\t\nGross Unrealized Losses\t0\t0\t(495)\t(200)\t\t\t\t(695)\t\t\nAvailable-For-Sale Securities at Fair Value\t5056\t965\t307361\t800\t\t\t\t314182\t\t\nAvailable-For-Sale Securities Pledged as Collateral at Fair Value\t\t\t\t\t\t\t\t232043\t\t\nSecurities in a Continuous Loss Position at Fair Value:\t\t\t\t\t\t\t\t\t\t\nLess than 12 Months\t0\t0\t4763\t0\t\t\t\t4763\t\t\n12 Months or Longer\t0\t0\t114483\t800\t\t\t\t115283\t\t\nTotal\t0\t0\t119246\t800\t\t\t\t120046\t\t\nNumber of Securities in a Continuous Loss Position\t0\t0\t48\t1\t\t\t\t49\t\t\nUnrealized Losses on Securities in a Continuous Loss Position:\t\t\t\t\t\t\t\t\t\t\nLess than 12 Months\t0\t0\t70\t0\t\t\t\t70\t\t\n12 Months or Longer\t0\t0\t425\t200\t\t\t\t625\t\t\nTotal\t0\t0\t495\t200\t\t\t\t695\t\t\nDisaggregated Details:\t\t\t\t\t\t\t\t\t\t\nUS Agency Obligations at Amortized Cost\t5003\t\t\t\t\t\t\t\t\t\nUS Agency Obligations at Fair Value\t5056\t\t\t\t\t\t\t\t\t\nUS Government Agency Securities at Amortized Cost\t\t\t64455\t\t\t\t\t\t\t\nUS Government Agency Securities at Fair Value\t\t\t64364\t\t\t\t\t\t\t\nGovernment Sponsored Entity Securities at Amortized Cost\t\t\t241919\t\t\t\t\t\t\t\nGovernment Sponsored Entity Securities at Fair Value\t\t\t242997\t\t\t\t\t\t\t\n", "q10k_tbl_12": "Held-To-Maturity Securities\t\t\n\tState and Municipal Obligations\tMortgage- Backed Securities\t\t\t\tTotal Held-To Maturity Securities\t\t\nSeptember 30 2020\t\t\t\t\t\t\t\t\nHeld-To-Maturity Securities at Amortized Cost\t195735\t29064\t\t\t\t224799\t\t\nGross Unrealized Gains\t7488\t1257\t\t\t\t8745\t\t\nGross Unrealized Losses\t(43)\t0\t\t\t\t(43)\t\t\nHeld-To-Maturity Securities at Fair Value\t203180\t30321\t\t\t\t233501\t\t\nHeld-To-Maturity Securities Pledged as Collateral at Fair Value\t\t\t\t\t\t221844\t\t\nMaturities of Debt Securities at Amortized Cost:\t\t\t\t\t\t\t\t\nWithin One Year\t15605\t4685\t\t\t\t20290\t\t\nFrom 1 - 5 Years\t138412\t24379\t\t\t\t162791\t\t\nFrom 5 - 10 Years\t40656\t0\t\t\t\t40656\t\t\nOver 10 Years\t1062\t0\t\t\t\t1062\t\t\nMaturities of Debt Securities at Fair Value:\t\t\t\t\t\t\t\t\nWithin One Year\t15677\t4812\t\t\t\t20489\t\t\nFrom 1 - 5 Years\t143598\t25509\t\t\t\t169107\t\t\nFrom 5 - 10 Years\t42825\t0\t\t\t\t42825\t\t\nOver 10 Years\t1080\t0\t\t\t\t1080\t\t\nSecurities in a Continuous Loss Position at Fair Value:\t\t\t\t\t\t\t\t\nLess than 12 Months\t1476\t0\t\t\t\t1476\t\t\n12 Months or Longer\t0\t0\t\t\t\t0\t\t\nTotal\t1476\t0\t\t\t\t1476\t\t\nNumber of Securities in a Continuous Loss Position\t4\t0\t\t\t\t4\t\t\nUnrealized Losses on Securities in a Continuous Loss Position:\t\t\t\t\t\t\t\t\nLess than 12 Months\t42\t0\t\t\t\t42\t\t\n12 Months or Longer\t1\t0\t\t\t\t1\t\t\nTotal\t43\t0\t\t\t\t43\t\t\nDisaggregated Details:\t\t\t\t\t\t\t\t\nUS Government Agency Securities at Amortized Cost\t\t10669\t\t\t\t\t\t\nUS Government Agency Securities at Fair Value\t\t11049\t\t\t\t\t\t\nGovernment Sponsored Entity Securities at Amortized Cost\t\t18395\t\t\t\t\t\t\nGovernment Sponsored Entity Securities at Fair Value\t\t19272\t\t\t\t\t\t\n", "q10k_tbl_13": "Held-To-Maturity Securities\t\t\n\tState and Municipal Obligations\tMortgage- Backed Securities\t\t\t\tTotal Held-To Maturity Securities\t\t\nDecember 31 2019\t\t\t\t\t\t\t\t\nHeld-To-Maturity Securities at Amortized Cost\t208243\t36822\t\t\t\t245065\t\t\nGross Unrealized Gains\t4170\t477\t\t\t\t4647\t\t\nGross Unrealized Losses\t(94)\t0\t\t\t\t(94)\t\t\nHeld-To-Maturity Securities at Fair Value\t212319\t37299\t\t\t\t249618\t\t\nHeld-To-Maturity Securities Pledged as Collateral at Fair Value\t\t\t\t\t\t237969\t\t\nSecurities in a Continuous Loss Position at Fair Value:\t\t\t\t\t\t\t\t\nLess than 12 Months\t1438\t0\t\t\t\t1438\t\t\n12 Months or Longer\t1994\t0\t\t\t\t1994\t\t\nTotal\t3432\t0\t\t\t\t3432\t\t\nNumber of Securities in a Continuous Loss Position\t10\t0\t\t\t\t10\t\t\nUnrealized Losses on Securities in a Continuous Loss Position:\t\t\t\t\t\t\t\t\nLess than 12 Months\t85\t0\t\t\t\t85\t\t\n12 Months or Longer\t9\t0\t\t\t\t9\t\t\nTotal\t94\t0\t\t\t\t94\t\t\nDisaggregated Details:\t\t\t\t\t\t\t\t\nUS Government Agency Securities at Amortized Cost\t\t1703\t\t\t\t\t\t\nUS Government Agency Securities at Fair Value\t\t1720\t\t\t\t\t\t\nGovernment Sponsored Entity Securities at Amortized Cost\t\t35119\t\t\t\t\t\t\nGovernment Sponsored Entity Securities at Fair Value\t\t35579\t\t\t\t\t\t\nSeptember 30 2019\t\t\t\t\t\t\t\t\nHeld-To-Maturity Securities at Amortized Cost\t215661\t39434\t\t\t\t255095\t\t\nGross Unrealized Gains\t3669\t408\t\t\t\t4077\t\t\nGross Unrealized Losses\t(34)\t(10)\t\t\t\t(44)\t\t\nHeld-To-Maturity Securities at Fair Value\t219296\t39832\t\t\t\t259128\t\t\nHeld-To-Maturity Securities Pledged as Collateral at Fair Value\t\t\t\t\t\t244373\t\t\nSecurities in a Continuous Loss Position at Fair Value:\t\t\t\t\t\t\t\t\nLess than 12 Months\t763\t3082\t\t\t\t3845\t\t\n12 Months or Longer\t6764\t1711\t\t\t\t8475\t\t\nTotal\t7527\t4793\t\t\t\t12320\t\t\nNumber of Securities in a Continuous Loss Position\t19\t19\t\t\t\t38\t\t\n", "q10k_tbl_14": "Held-To-Maturity Securities\t\t\n\tState and Municipal Obligations\tMortgage- Backed Securities\t\t\t\tTotal Held-To Maturity Securities\t\t\nUnrealized Losses on Securities in a Continuous Loss Position:\t\t\t\t\t\t\t\t\nLess than 12 Months\t1\t9\t\t\t\t10\t\t\n12 Months or Longer\t33\t1\t\t\t\t34\t\t\nTotal\t34\t10\t\t\t\t44\t\t\nDisaggregated Details:\t\t\t\t\t\t\t\t\nUS Government Agency Securities at Amortized Cost\t\t1844\t\t\t\t\t\t\nUS Government Agency Securities at Fair Value\t\t1854\t\t\t\t\t\t\nGovernment Sponsored Entity Securities at Amortized Cost\t\t37590\t\t\t\t\t\t\nGovernment Sponsored Entity Securities at Fair Value\t\t37978\t\t\t\t\t\t\n", "q10k_tbl_15": "Equity Securities\t\t\t\n\tSeptember 30 2020\tDecember 31 2019\tSeptember 30 2019\nEquity Securities at Fair Value\t1511\t2063\t1996\n", "q10k_tbl_16": "\tQuarterly Period Ended:\tYear-to-Date Period Ended:\t\n\tSeptember 30 2020\tSeptember 30 2019\tSeptember 30 2020\t\t\t\tSeptember 30 2019\t\t\t\t\t\t\t\t\nNet (Loss) Gain on Equity Securities\t(72)\t146\t(552)\t\t\t\t222\t\t\t\t\t\t\t\t\nLess: Net gain (loss) recognized during the reporting period on equity securities sold during the period\t0\t0\t0\t\t\t\t0\t\t\t\t\t\t\t\t\nUnrealized net (loss) gain recognized during the reporting period on equity securities still held at the reporting date\t(72)\t146\t(552)\t\t\t\t222\t\t\t\t\t\t\t\t\n", "q10k_tbl_17": "Schedule of Past Due Loans by Loan Category\t\t\t\t\t\n\t\tCommercial\t\t\t\n\tCommercial\tReal Estate\tConsumer\tResidential\tTotal\nSeptember 30 2020\t\t\t\t\t\nLoans Past Due 30-59 Days\t43\t0\t4238\t428\t4709\nLoans Past Due 60-89 Days\t79\t85\t2853\t765\t3782\nLoans Past Due 90 or more Days\t22\t1475\t1303\t1517\t4317\nTotal Loans Past Due\t144\t1560\t8394\t2710\t12808\nCurrent Loans\t275777\t539673\t841132\t923065\t2579647\nTotal Loans\t275921\t541233\t849526\t925775\t2592455\nLoans 90 or More Days Past Due and Still Accruing Interest\t0\t0\t0\t121\t121\nNonaccrual Loans\t72\t1475\t1559\t2898\t6004\nDecember 31 2019\t\t\t\t\t\nLoans Past Due 30-59 Days\t150\t0\t5670\t152\t5972\nLoans Past Due 60-89 Days\t42\t266\t2700\t2027\t5035\nLoans Past Due 90 or more Days\t21\t326\t445\t1807\t2599\nTotal Loans Past Due\t213\t592\t8815\t3986\t13606\nCurrent Loans\t150447\t509949\t802383\t909735\t2372514\nTotal Loans\t150660\t510541\t811198\t913721\t2386120\nLoans 90 or More Days Past Due and Still Accruing Interest\t0\t0\t0\t253\t253\nNonaccrual Loans\t81\t326\t663\t2935\t4005\nSeptember 30 2019\t\t\t\t\t\nLoans Past Due 30-59 Days\t99\t0\t5216\t241\t5556\nLoans Past Due 60-89 Days\t48\t30\t1624\t1011\t2713\nLoans Past Due 90 or more Days\t0\t328\t415\t2387\t3130\nTotal Loans Past Due\t147\t358\t7255\t3639\t11399\nCurrent Loans\t141988\t497725\t798542\t885937\t2324192\nTotal Loans\t142135\t498083\t805797\t889576\t2335591\nLoans 90 or More Days Past Due and Still Accruing Interest\t0\t0\t86\t980\t1066\nNonaccrual Loans\t28\t465\t564\t2408\t3465\n", "q10k_tbl_18": "Allowance for Loan Losses\t\t\t\t\t\n\t\tCommercial\t\t\t\n\tCommercial\tReal Estate\tConsumer\tResidential\tTotal\nRoll-forward of the Allowance for Loan Losses for the Quarterly Periods:\t\t\t\t\t\nJune 30 2020\t1917\t8361\t10639\t5383\t26300\nCharge-offs\t(17)\t(5)\t(370)\t0\t(392)\nRecoveries\t0\t0\t267\t0\t267\nProvision\t419\t1013\t609\t230\t2271\nSeptember 30 2020\t2319\t9369\t11145\t5613\t28446\nJune 30 2019\t1231\t5459\t9654\t4351\t20695\nCharge-offs\t(11)\t0\t(351)\t(40)\t(402)\nRecoveries\t0\t0\t120\t0\t120\nProvision\t42\t162\t263\t51\t518\nSeptember 30 2019\t1262\t5621\t9686\t4362\t20931\n", "q10k_tbl_19": "Allowance for Loan Losses\t\t\t\t\t\n\t\tCommercial\t\t\t\n\tCommercial\tReal Estate\tConsumer\tResidential\tTotal\nRoll-forward of the Allowance for Loan Losses for the Year-to-Date Periods:\t\t\t\t\t\nDecember 31 2019\t1386\t5830\t9408\t4563\t21187\nCharge-offs\t(37)\t(5)\t(1268)\t(50)\t(1360)\nRecoveries\t3\t0\t533\t0\t536\nProvision\t967\t3544\t2472\t1100\t8083\nSeptember 30 2020\t2319\t9369\t11145\t5613\t28446\nDecember 31 2018\t1218\t5644\t8882\t4452\t20196\nCharge-offs\t(12)\t(29)\t(1137)\t(54)\t(1232)\nRecoveries\t98\t0\t424\t0\t522\nProvision\t(42)\t6\t1517\t(36)\t1445\nSeptember 30 2019\t1262\t5621\t9686\t4362\t20931\nSeptember 30 2020\t\t\t\t\t\nAllowance for loan losses - Loans Individually Evaluated for Impairment\t18\t0\t0\t28\t46\nAllowance for loan losses - Loans Collectively Evaluated for Impairment\t2301\t9369\t11145\t5585\t28400\nEnding Loan Balance - Individually Evaluated for Impairment\t47\t1128\t124\t1427\t2726\nEnding Loan Balance - Collectively Evaluated for Impairment\t275874\t540105\t849402\t924348\t2589729\nDecember 31 2019\t\t\t\t\t\nAllowance for loan losses - Loans Individually Evaluated for Impairment\t5\t0\t0\t42\t47\nAllowance for creditlosses - Loans Collectively Evaluated for Impairment\t1381\t5830\t9408\t4521\t21140\nEnding Loan Balance - Individually Evaluated for Impairment\t35\t0\t107\t959\t1101\nEnding Loan Balance - Collectively Evaluated for Impairment\t150625\t510541\t811091\t912762\t2385019\n", "q10k_tbl_20": "Allowance for Loan Losses\t\t\t\t\t\n\t\tCommercial\t\t\t\n\tCommercial\tReal Estate\tConsumer\tResidential\tTotal\nSeptember 30 2019\t\t\t\t\t\nAllowance for loan losses - Loans Individually Evaluated for Impairment\t5\t0\t0\t0\t5\nAllowance for credit losses - Loans Collectively Evaluated for Impairment\t1257\t5621\t9686\t4362\t20926\nEnding Loan Balance - Individually Evaluated for Impairment\t36\t0\t113\t575\t724\nEnding Loan Balance - Collectively Evaluated for Impairment\t142099\t498083\t805684\t889001\t2334867\n", "q10k_tbl_21": "Loan Credit Quality Indicators\t\t\t\t\t\n\t\tCommercial\t\t\t\n\tCommercial\tReal Estate\tConsumer\tResidential\tTotal\nSeptember 30 2020\t\t\t\t\t\nCredit Risk Profile by Creditworthiness Category:\t\t\t\t\t\nSatisfactory\t264094\t493982\t\t\t758076\nSpecial Mention\t1485\t12620\t\t\t14105\nSubstandard\t10342\t34631\t\t\t44973\nDoubtful\t0\t0\t\t\t0\nCredit Risk Profile Based on Payment Activity:\t\t\t\t\t\nPerforming\t\t\t847967\t922756\t1770723\nNonperforming\t\t\t1559\t3019\t4578\nDecember 31 2019\t\t\t\t\t\nCredit Risk Profile by Creditworthiness Category:\t\t\t\t\t\nSatisfactory\t144283\t484267\t\t\t628550\nSpecial Mention\t32\t263\t\t\t295\nSubstandard\t6345\t26011\t\t\t32356\nDoubtful\t0\t0\t\t\t0\nCredit Risk Profile Based on Payment Activity:\t\t\t\t\t\nPerforming\t\t\t810535\t910533\t1721068\nNonperforming\t\t\t663\t3188\t3851\nSeptember 30 2019\t\t\t\t\t\nCredit Risk Profile by Creditworthiness Category:\t\t\t\t\t\nSatisfactory\t135355\t471637\t\t\t606992\nSpecial Mention\t107\t2484\t\t\t2591\nSubstandard\t6673\t23962\t\t\t30635\nDoubtful\t0\t0\t\t\t0\nCredit Risk Profile Based on Payment Activity:\t\t\t\t\t\nPerforming\t\t\t805147\t886188\t1691335\nNonperforming\t\t\t650\t3388\t4038\n", "q10k_tbl_22": "Impaired Loans\t\t\t\t\t\n\t\tCommercial\t\t\t\n\tCommercial\tReal Estate\tConsumer\tResidential\tTotal\nSeptember 30 2020\t\t\t\t\t\nRecorded Investment:\t\t\t\t\t\nWith No Related Allowance\t0\t1124\t124\t1178\t2426\nWith a Related Allowance\t46\t0\t0\t249\t295\nUnpaid Principal Balance:\t\t\t\t\t\nWith No Related Allowance\t0\t1128\t124\t1178\t2430\nWith a Related Allowance\t47\t0\t0\t249\t296\nDecember 31 2019\t\t\t\t\t\nRecorded Investment:\t\t\t\t\t\nWith No Related Allowance\t0\t0\t108\t699\t807\nWith a Related Allowance\t34\t0\t0\t260\t294\nUnpaid Principal Balance:\t\t\t\t\t\nWith No Related Allowance\t0\t0\t107\t699\t806\nWith a Related Allowance\t35\t0\t0\t260\t295\nSeptember 30 2019\t\t\t\t\t\nRecorded Investment:\t\t\t\t\t\nWith No Related Allowance\t0\t0\t114\t575\t689\nWith a Related Allowance\t35\t0\t0\t0\t35\nUnpaid Principal Balance:\t\t\t\t\t\nWith No Related Allowance\t0\t0\t113\t575\t688\nWith a Related Allowance\t36\t0\t0\t0\t36\nFor the Quarter Ended:\t\t\t\t\t\nSeptember 30 2020\t\t\t\t\t\nAverage Recorded Balance:\t\t\t\t\t\nWith No Related Allowance\t2\t1127\t120\t938\t2187\nWith a Related Allowance\t46\t0\t0\t253\t299\nInterest Income Recognized:\t\t\t\t\t\nWith No Related Allowance\t0\t0\t0\t0\t0\nWith a Related Allowance\t0\t0\t0\t0\t0\nCash Basis Income:\t\t\t\t\t\nWith No Related Allowance\t0\t0\t0\t0\t0\nWith a Related Allowance\t0\t0\t0\t0\t0\nSeptember 30 2019\t\t\t\t\t\nAverage Recorded Balance:\t\t\t\t\t\nWith No Related Allowance\t0\t1\t119\t1489\t1609\nWith a Related Allowance\t36\t0\t0\t0\t36\nInterest Income Recognized:\t\t\t\t\t\nWith No Related Allowance\t0\t0\t0\t0\t0\nWith a Related Allowance\t0\t0\t0\t0\t0\nCash Basis Income:\t\t\t\t\t\nWith No Related Allowance\t0\t0\t0\t0\t0\nWith a Related Allowance\t0\t0\t0\t0\t0\n", "q10k_tbl_23": "Commitments to Extend Credit and Letters of Credit\t\t\t\n\tSeptember 30 2020\tDecember 31 2019\tSeptember 30 2019\nNotional Amount:\t\t\t\nCommitments to Extend Credit\t364861\t349718\t340976\nStandby Letters of Credit\t3330\t3129\t3164\nFair Value:\t\t\t\nCommitments to Extend Credit\t0\t0\t0\nStandby Letters of Credit\t30\t31\t26\n", "q10k_tbl_24": "Schedule of Comprehensive Income\t\t\t\t\t\t\n\tThree Months Ended September 30\t\t\tNine Months Ended September 30\t\t\n\t\tTax\t\t\tTax\t\n\tBefore-Tax\t(Expense)\tNet-of-Tax\tBefore-Tax\t(Expense)\tNet-of-Tax\n\tAmount\tBenefit\tAmount\tAmount\tBenefit\tAmount\n2020\t\t\t\t\t\t\nNet Unrealized Securities Holding (Losses) Gains on Securities Available-for-Sale Arising During the Period\t(397)\t101\t(296)\t7823\t(2000)\t5823\nNet Unrealized Gains on Cash Flow Swap\t317\t(79)\t238\t48\t(11)\t37\nAmortization of Net Retirement Plan Actuarial Loss\t57\t(15)\t42\t171\t(44)\t127\nAmortization of Net Retirement Plan Prior Service Cost\t53\t(14)\t39\t159\t(42)\t117\nOther Comprehensive Income\t30\t(7)\t23\t8201\t(2097)\t6104\n2019\t\t\t\t\t\t\nNet Unrealized Securities Holding Gains on Securities Available-for-Sale Arising During the Period\t668\t(169)\t499\t5796\t(1473)\t4323\nAmortization of Net Retirement Plan Actuarial Loss\t172\t(45)\t127\t514\t(133)\t381\nAmortization of Net Retirement Plan Prior Service Cost\t56\t(14)\t42\t169\t(42)\t127\nOther Comprehensive Income\t896\t(228)\t668\t6479\t(1648)\t4831\n", "q10k_tbl_25": "Changes in Accumulated Other Comprehensive Income (Loss) by Component (1)\t\t\t\t\t\n\tUnrealized Gains and Losses on Available-for-Sale Securities\tUnrealized Loss on Cash Flow Swap\tDefined Benefit Plan Items\t\tTotal\n\t\tNet Actuarial Gain (Loss)\tNet Prior Service (Cost) Credit\nFor the Quarter-To-Date periods ended:\t\t\t\t\t\nJune 30 2020\t6584\t(201)\t(5762)\t(897)\t(276)\nOther comprehensive income or loss before reclassifications\t(296)\t238\t0\t0\t(58)\nAmounts reclassified from accumulated other comprehensive income\t0\t0\t42\t39\t81\nNet current-period other comprehensive income\t(296)\t238\t42\t39\t23\nSeptember 30 2020\t6288\t37\t(5720)\t(858)\t(253)\nJune 30 2019\t127\t0\t(8717)\t(1057)\t(9647)\nOther comprehensive loss before reclassifications\t499\t0\t0\t0\t499\nAmounts reclassified from accumulated other comprehensive loss\t0\t0\t127\t42\t169\nNet current-period other comprehensive income\t499\t0\t127\t42\t668\nSeptember 30 2019\t626\t0\t(8590)\t(1015)\t(8979)\nFor the Year-To-Date periods ended:\t\t\t\t\t\nDecember 31 2019\t465\t0\t(5847)\t(975)\t(6357)\nOther comprehensive income or loss before reclassifications\t5823\t37\t0\t0\t5860\nAmounts reclassified from accumulated other comprehensive income\t0\t0\t127\t117\t244\nNet current-period other comprehensive income\t5823\t37\t127\t117\t6104\nSeptember 30 2020\t6288\t37\t(5720)\t(858)\t(253)\nDecember 31 2018\t(3697)\t0\t(8971)\t(1142)\t(13810)\nOther comprehensive income or loss before reclassifications\t4323\t0\t0\t0\t4323\nAmounts reclassified from accumulated other comprehensive income\t0\t0\t381\t127\t508\nNet current-period other comprehensive income\t4323\t0\t381\t127\t4831\nSeptember 30 2019\t626\t0\t(8590)\t(1015)\t(8979)\n", "q10k_tbl_26": "Reclassifications Out of Accumulated Other Comprehensive Income\t\t\t\n\tAmounts Reclassified\t\t\nDetails about Accumulated Other\tfrom Accumulated Other\t\tAffected Line Item in the Statement\nComprehensive Income (Loss) Components\tComprehensive Income\t\tWhere Net Income Is Presented\nFor the Quarter-to-date periods ended:\t\t\t\nSeptember 30 2020\t\t\t\nAmortization of defined benefit pension items:\t\t\t\nPrior-service costs\t(53)\t(1)\tSalaries and Employee Benefits\nActuarial loss\t(57)\t(1)\tSalaries and Employee Benefits\n\t(110)\t\tTotal before Tax\n\t29\t\tProvision for Income Taxes\nTotal reclassifications for the period\t(81)\t\tNet of Tax\nSeptember 30 2019\t\t\t\nAmortization of defined benefit pension items:\t\t\t\nPrior-service costs\t(56)\t(1)\tSalaries and Employee Benefits\nActuarial loss\t(172)\t(1)\tSalaries and Employee Benefits\n\t(228)\t\tTotal before Tax\n\t59\t\tProvision for Income Taxes\nTotal reclassifications for the period\t(169)\t\tNet of Tax\nFor the Year-to-date periods ended:\t\t\t\nSeptember 30 2020\t\t\t\nAmortization of defined benefit pension items:\t\t\t\nPrior-service costs\t(159)\t(1)\tSalaries and Employee Benefits\nActuarial loss\t(171)\t(1)\tSalaries and Employee Benefits\n\t(330)\t\tTotal before Tax\n\t86\t\tProvision for Income Taxes\nTotal reclassifications for the period\t(244)\t\tNet of Tax\nSeptember 30 2019\t\t\t\nAmortization of defined benefit pension items:\t\t\t\nPrior-service costs\t(169)\t(1)\tSalaries and Employee Benefits\nActuarial loss\t(514)\t(1)\tSalaries and Employee Benefits\n\t(683)\t\tTotal before Tax\n\t175\t\tProvision for Income Taxes\nTotal reclassifications for the period\t(508)\t\tNet of Tax\n(1) These accumulated other comprehensive income components are included in the computation of net periodic pension cost.\t\t\t\n", "q10k_tbl_27": "\tShares\tWeighted Average Exercise Price\nOutstanding at January 1 2020\t248495\t26.78\nGranted\t52324\t34.25\nExercised\t(26822)\t22.23\nForfeited\t(2834)\t28.79\nOutstanding at September 30 2020\t271163\t28.65\nVested at Period-End\t147759\t25.84\nExpected to Vest\t123404\t32.01\nStock Options Granted\t\t\nWeighted Average Grant Date Information:\t\t\nFair Value of Options Granted\t4.84\t\nFair Value Assumptions:\t\t\nDividend Yield\t2.90%\t\nExpected Volatility\t20.25%\t\nRisk Free Interest Rate\t1.53%\t\nExpected Lives (in years)\t6.68\t\n", "q10k_tbl_28": "\tFor the Three Months Ended September 30\t\tFor the Nine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nAmount expensed\t76\t79\t227\t237\n", "q10k_tbl_29": "\tRestricted Stock Units\tWeighted Average Grant Date Fair Value\nNon-vested at January 1 2020\t7721\t30.27\nGranted\t3942\t34.25\nNon-vested at September 30 2020\t11663\t31.62\nNon-vested at January 1 2019\t3582\t30.70\nGranted\t4139\t29.89\nNon-vested at September 30 2019\t7721\t30.27\n", "q10k_tbl_30": "\tFor the Three Months Ended September 30\t\tFor the Nine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nAmount expensed\t30\t19\t88\t55\n", "q10k_tbl_31": "\tEmployees'\tSelect Executive\tPostretirement\n\tPension\tRetirement\tBenefit\n\tPlan\tPlan\tPlans\nNet Periodic (Benefit) Cost\t\t\t\nFor the Three Months Ended September 30 2020:\t\t\t\nService Cost 1\t416\t102\t30\nInterest Cost 2\t387\t48\t78\nExpected Return on Plan Assets 2\t(902)\t0\t0\nAmortization of Prior Service Cost 2\t15\t11\t27\nAmortization of Net Loss 2\t20\t37\t0\nNet Periodic (Benefit) Cost\t(64)\t198\t135\nPlan Contributions During the Period\t0\t116\t54\nFor the Three Months Ended September 30 2019:\t\t\t\nService Cost 1\t382\t81\t30\nInterest Cost 2\t513\t54\t91\nExpected Return on Plan Assets 2\t(765)\t0\t0\nAmortization of Prior Service Cost 2\t17\t14\t25\nAmortization of Net Loss (Gain) 2\t153\t29\t(10)\nNet Periodic Cost\t300\t178\t136\nPlan Contributions During the Period\t0\t117\t51\n", "q10k_tbl_32": "Net Periodic Benefit Cost\t\t\t\nFor the Nine Months Ended September 30 2020:\t\t\t\nService Cost 1\t1247\t306\t92\nInterest Cost 2\t1159\t144\t233\nExpected Return on Plan Assets 2\t(2706)\t0\t0\nAmortization of Prior Service Cost 2\t47\t32\t80\nAmortization of Net Loss 2\t61\t110\t0\nNet Periodic (Benefit) Cost\t(192)\t592\t405\nPlan Contributions During the Period\t0\t349\t191\nEstimated Future Contributions in the Current Fiscal Year\t0\t0\t0\nFor the Nine Months Ended September 30 2019:\t\t\t\nService Cost 1\t1146\t243\t91\nInterest Cost 2\t1253\t162\t273\nExpected Return on Plan Assets 2\t(2296)\t0\t0\nAmortization of Prior Service Cost 2\t52\t41\t76\nAmortization of Net Loss (Benefit) 2\t460\t86\t(32)\nNet Periodic Cost\t615\t532\t408\nPlan Contributions During the Period\t0\t350\t142\n", "q10k_tbl_33": "Earnings Per Share\t\t\t\t\n\tThree Months Ended\t\tYear-to-Date Period Ended:\t\n\tSeptember 30 2020\tSeptember 30 2019\tSeptember 30 2020\tSeptember 30 2019\nEarnings Per Share - Basic:\t\t\t\t\nNet Income\t11046\t10067\t28332\t27735\nWeighted Average Shares - Basic\t15472\t15404\t15453\t15375\nEarnings Per Share - Basic\t0.71\t0.65\t1.83\t1.80\nEarnings Per Share - Diluted:\t\t\t\t\nNet Income\t11046\t10067\t28332\t27735\nWeighted Average Shares - Basic\t15472\t15404\t15453\t15375\nDilutive Average Shares Attributable to Stock Options\t9\t37\t14\t42\nWeighted Average Shares - Diluted\t15481\t15441\t15467\t15417\nEarnings Per Share - Diluted\t0.71\t0.65\t1.83\t1.80\n", "q10k_tbl_34": "Fair Value of Assets and Liabilities Measured on a Recurring and Nonrecurring Basis\t\t\t\t\n\t\tFair Value Measurements at Reporting Date Using:\t\t\n\tFair Value\tQuoted Prices In Active Markets for Identical Assets (Level 1)\tSignificant Other Observable Inputs (Level 2)\tSignificant Unobservable Inputs (Level 3)\nFair Value of Assets and Liabilities Measured on a Recurring Basis:\t\t\t\t\nSeptember 30 2020\t\t\t\t\nAssets:\t\t\t\t\nSecurities Available-for Sale:\t\t\t\t\nU.S. Government & Agency Obligations\t35167\t0\t35167\t0\nState and Municipal Obligations\t593\t0\t593\t0\nMortgage-Backed Securities\t338368\t0\t338368\t0\nCorporate and Other Debt Securities\t800\t0\t800\t0\nTotal Securities Available-for-Sale\t374928\t0\t374928\t0\nEquity Securities\t1511\t0\t1511\t0\nTotal Securities Measured on a Recurring Basis\t376439\t0\t376439\t0\nDerivatives included in other assets\t6366\t0\t6366\t0\nTotal Measured on a Recurring Basis\t382805\t0\t382805\t0\nLiabilities:\t\t\t\t\nDerivatives included in other liabilities\t6366\t0\t6366\t0\nTotal Measured on a Recurring Basis\t6366\t0\t6366\t0\nDecember 31 2019\t\t\t\t\nAssets:\t\t\t\t\nSecurities Available-for Sale:\t\t\t\t\nU.S. Government & Agency Obligations\t5054\t0\t5054\t0\nState and Municipal Obligations\t764\t0\t764\t0\nMortgage-Backed Securities\t350716\t0\t350716\t0\nCorporate and Other Debt Securities\t800\t0\t800\t0\nTotal Securities Available-for-Sale\t357334\t0\t357334\t0\nEquity Securities\t2063\t0\t2063\t0\n", "q10k_tbl_35": "Fair Value of Assets and Liabilities Measured on a Recurring and Nonrecurring Basis\t\t\t\t\n\t\tFair Value Measurements at Reporting Date Using:\t\t\n\tFair Value\tQuoted Prices In Active Markets for Identical Assets (Level 1)\tSignificant Other Observable Inputs (Level 2)\tSignificant Unobservable Inputs (Level 3)\nTotal Securities Measured on a Recurring Basis\t359397\t0\t359397\t0\nDerivatives included in other liabilities\t69\t0\t69\t0\nTotal Measured on a Recurring Basis\t359466\t0\t359466\t0\nLiabilities:\t\t\t\t\nDerivatives included in other liabilities\t69\t0\t69\t0\nTotal Measured on a Recurring Basis\t69\t0\t69\t0\nSeptember 30 2019\t\t\t\t\nAssets:\t\t\t\t\nSecurities Available-for Sale:\t\t\t\t\nU.S. Government & Agency Obligations\t5056\t0\t5056\t0\nState and Municipal Obligations\t965\t0\t965\t0\nMortgage-Backed Securities\t307361\t0\t307361\t0\nCorporate and Other Debt Securities\t800\t0\t800\t0\nTotal Securities Available-for-Sale\t314182\t0\t314182\t0\nEquity Securities\t1996\t0\t1996\t0\nTotal Securities Measured on a Recurring Basis\t316178\t0\t316178\t0\nDerivatives included in other assets\t498\t0\t498\t\nTotal Measured on a Recurring Basis\t316676\t0\t316676\t0\nLiabilities:\t\t\t\t\nDerivatives included in other liabilities\t498\t0\t498\t0\nTotal Measured on a Recurring Basis\t498\t0\t498\t0\n", "q10k_tbl_36": "\tFair Value\tQuoted Prices In Active Markets for Identical Assets (Level 1)\tSignificant Other Observable Inputs (Level 2)\tSignificant Unobservable Inputs (Level 3)\tLosses Recognized in Earnings\nFair Value of Assets and Liabilities Measured on a Nonrecurring Basis:\t\t\t\t\t\nSeptember 30 2020\t\t\t\t\t\nCollateral Dependent Impaired Loans\t594\t0\t0\t594\t\nOther Real Estate Owned and Repossessed Assets Net\t126\t0\t0\t126\t0\nDecember 31 2019\t\t\t\t\t\nCollateral Dependent Impaired Loans\t285\t0\t0\t285\t\nOther Real Estate Owned and Repossessed Assets Net\t1261\t0\t0\t1261\t(186)\nSeptember 30 2019\t\t\t\t\t\nCollateral Dependent Impaired Loans\t324\t0\t0\t324\t\nOther Real Estate Owned and Repossessed Assets Net\t1274\t0\t0\t1274\t(111)\n", "q10k_tbl_37": "Schedule of Fair Values by Balance Sheet Grouping\t\t\t\t\t\n\t\t\tFair Value Hierarchy\t\t\n\tCarrying Value\tFair Value\tLevel 1\tLevel 2\tLevel 3\nSeptember 30 2020\t\t\t\t\t\nCash and Cash Equivalents\t450666\t450666\t450666\t0\t0\nSecurities Available-for-Sale\t374928\t374928\t0\t374928\t0\nSecurities Held-to-Maturity\t224799\t233501\t0\t233501\t0\nEquity Securities\t1511\t1511\t0\t1511\t0\nFederal Home Loan Bank and Federal Reserve Bank Stock\t5574\t5574\t0\t5574\t0\nNet Loans\t2564009\t2560043\t0\t0\t2560043\nAccrued Interest Receivable\t7962\t7962\t0\t7962\t0\nDerivatives included in other assets\t6366\t6366\t\t6366\t\nDeposits\t3264858\t3265208\t0\t3265208\t0\nFederal Funds Purchased and Securities Sold Under Agreements to Repurchase\t73949\t73949\t0\t73949\t0\nFederal Home Loan Bank Term Advances\t50000\t51576\t0\t51576\t0\nJunior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts\t20000\t20000\t0\t20000\t0\nAccrued Interest Payable\t841\t841\t0\t841\t0\nDerivatives included in other liabilities\t6366\t6366\t0\t6366\t0\n", "q10k_tbl_38": "Schedule of Fair Values by Balance Sheet Grouping\t\t\t\t\t\n\t\t\tFair Value Hierarchy\t\t\n\tCarrying Value\tFair Value\tLevel 1\tLevel 2\tLevel 3\nDecember 31 2019\t\t\t\t\t\nCash and Cash Equivalents\t70221\t70221\t70221\t0\t0\nSecurities Available-for-Sale\t357334\t357334\t0\t357334\t0\nSecurities Held-to-Maturity\t245065\t249618\t0\t249618\t0\nEquity Securities\t2063\t2063\t0\t2063\t\nFederal Home Loan Bank and Federal Reserve Bank Stock\t10317\t10317\t0\t10317\t0\nNet Loans\t2364933\t2332797\t0\t0\t2332797\nAccrued Interest Receivable\t7377\t7377\t0\t7377\t0\nDerivatives included in other assets\t69\t69\t0\t69\t0\nDeposits\t2616054\t2614170\t0\t2614170\t0\nFederal Funds Purchased and Securities Sold Under Agreements to Repurchase\t51099\t51099\t0\t51099\t0\nFederal Home Loan Bank Overnight Advances\t130000\t130000\t0\t130000\t0\nFederal Home Loan Bank Term Advances\t30000\t29993\t0\t29993\t0\nJunior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts\t20000\t20000\t0\t20000\t0\nAccrued Interest Payable\t1436\t1436\t0\t1436\t0\nDerivatives included in other liabilities\t69\t69\t0\t69\t0\nSeptember 30 2019\t\t\t\t\t\nCash and Cash Equivalents\t92298\t92298\t92298\t0\t0\nSecurities Available-for-Sale\t314182\t314182\t0\t314182\t0\nSecurities Held-to-Maturity\t255095\t259128\t0\t259128\t0\nEquity Securities\t1996\t1996\t0\t1996\t\nFederal Home Loan Bank and Federal Reserve Bank Stock\t6627\t6627\t0\t6627\t0\nNet Loans\t2314660\t2274701\t0\t0\t2274701\nAccrued Interest Receivable\t8097\t8097\t0\t8097\t0\nDerivatives included in other assets\t498\t498\t0\t498\t0\nDeposits\t2614547\t2610404\t0\t2610404\t0\nFederal Funds Purchased and Securities Sold Under Agreements to Repurchase\t72869\t72869\t0\t72869\t0\nFederal Home Loan Bank Overnight Advances\t48000\t48000\t0\t48000\t0\nFederal Home Loan Bank Term Advances\t30000\t29988\t0\t29988\t0\nJunior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts\t20000\t20000\t0\t20000\t0\nAccrued Interest Payable\t1500\t1500\t0\t1500\t0\nDerivatives included in other liabilities\t498\t498\t0\t498\t0\n", "q10k_tbl_39": "\t\tNine Months Ended\t\nFinance Lease Amounts:\tClassification\tSeptember 30 2020\tSeptember 30 2019\nRight-of-Use Assets\tPremises and Equipment Net\t5036\t5199\nLease Liabilities\tFinance Leases\t5228\t5263\nOperating Lease Amounts:\t\t\t\nRight-of-Use Assets\tOther Assets\t5496\t5815\nLease Liabilities\tOther Liabilities\t5577\t5876\nOther Information:\t\t\t\nCash Paid For Amounts Included In The Measurement Of Lease Liabilities:\t\t\t\nOperating Outgoing Cash Flows From Finance Leases\t\t148\t71\nOperating Outgoing Cash Flows From Operating Leases\t\t567\t563\nFinancing Outgoing Cash Flows From Finance Leases\t\t26\t19\nRight-of-Use Assets Obtained In Exchange For New Finance Lease Liabilities\t\t0\t5271\nRight-of-Use Assets Obtained In Exchange For New Operating Lease Liabilities\t\t294\t6266\nWeighted-average Remaining Lease Term - Finance Leases (Yrs.)\t\t29.4\t31.05\nWeighted-average Remaining Lease Term - Operating Leases (Yrs.)\t\t13.1\t13.75\nWeighted-average Discount Rate-Finance Leases\t\t3.75%\t3.75%\nWeighted-average Discount Rate-Operating Leases\t\t3.27%\t3.35%\n", "q10k_tbl_40": "Lease cost information for the Company's leases is as follows:\t\t\t\t\n\tThree Months Ended\t\tNine Months Ended\t\n\tSeptember 30 2020\tSeptember 30 2019\tSeptember 30 2020\tSeptember 30 2019\nLease Cost:\t\t\t\t\nFinance Lease Cost:\t\t\t\t\nReduction of Right-of-Use Assets\t44\t28\t133\t72\nInterest on Lease Liabilities\t49\t28\t148\t71\nOperating Lease Cost\t214\t211\t624\t577\nShort-term Lease Cost\t11\t17\t32\t73\nVariable Lease Cost\t77\t45\t165\t140\nTotal Lease Cost\t395\t329\t1102\t933\n", "q10k_tbl_41": "Future Lease Payments at September 30 2020 are as follows:\t\t\n\tOperating Leases\tFinancing Leases\nTwelve Months Ended:\t\t\n9/30/2021\t781\t243\n9/30/2022\t665\t243\n9/30/2023\t601\t243\n9/30/2024\t590\t247\n9/30/2025\t551\t259\nThereafter\t3773\t7867\nTotal Undiscounted Cash Flows\t6961\t9102\nLess: Net Present Value Adjustment\t1384\t3874\nLease Liability\t5577\t5228\n", "q10k_tbl_42": "Derivatives Not Designated as Hedging Instruments - Interest Rate Swap Agreements\t\t\t\n\tSeptember 30 2020\tDecember 31 2019\tSeptember 30 2019\nFair value adjustment included in other assets\t6366\t69\t498\nFair value adjustment included in other liabilities\t6366\t69\t498\nNotional amount\t166329\t44531\t39577\n", "q10k_tbl_43": "Derivatives Designated as Hedging Instruments - Cash Flow Hedge Agreements\t\t\t\n\tSeptember 30 2020\tDecember 31 2019\tSeptember 30 2019\nAmount of gain recognized in AOCI\t48\t0\t0\nAmount of gain reclassified from AOCI interest expense\t0\t0\t0\n", "q10k_tbl_44": "Quarter Ended\t9/30/2020\t6/30/2020\t3/31/2020\t12/31/2019\t9/30/2019\nNet Income\t11046\t9159\t8127\t9740\t10067\nTransactions in Net Income (Net of Tax):\t\t\t\t\t\nNet Changes in Fair Value of Equity Investments\t(53)\t(80)\t(279)\t50\t109\nShare and Per Share Data:1\t\t\t\t\t\nPeriod End Shares Outstanding\t15489\t15461\t15432\t15448\t15418\nBasic Average Shares Outstanding\t15472\t15441\t15446\t15427\t15404\nDiluted Average Shares Outstanding\t15481\t15448\t15476\t15476\t15441\nBasic Earnings Per Share\t0.71\t0.59\t0.53\t0.63\t0.65\nDiluted Earnings Per Share\t0.71\t0.59\t0.53\t0.63\t0.65\nCash Dividend Per Share\t0.252\t0.252\t0.252\t0.252\t0.245\nSelected Quarterly Average Balances:\t\t\t\t\t\nInterest-Bearing Deposits at Banks\t242928\t155931\t32787\t28880\t27083\nInvestment Securities\t592457\t607094\t603748\t582982\t545073\nLoans\t2582253\t2518198\t2394346\t2358110\t2308879\nDeposits\t3082499\t2952432\t2670009\t2607421\t2472528\nOther Borrowed Funds\t136117\t129383\t170987\t177877\t231291\nStockholders' Equity\t324269\t316380\t306527\t296124\t289016\nTotal Assets\t3583322\t3437155\t3180857\t3113114\t3023043\nReturn on Average Assets annualized\t1.23%\t1.07%\t1.03%\t1.24%\t1.32%\nReturn on Average Equity annualized\t13.55%\t11.64%\t10.66%\t13.05%\t13.82%\nReturn on Average Tangible Equity annualized 2\t14.61%\t12.58%\t11.55%\t14.18%\t15.05%\nAverage Earning Assets\t3417638\t3281223\t3030881\t2969972\t2881035\nAverage Paying Liabilities\t2545435\t2457690\t2362515\t2293804\t2213642\nInterest Income\t27296\t28002\t28226\t28367\t27952\nTax-Equivalent Adjustment 3\t284\t281\t288\t321\t344\nInterest Income Tax-Equivalent 3\t27580\t28283\t28514\t28688\t28296\nInterest Expense\t2396\t3160\t5220\t5449\t5649\nNet Interest Income\t24900\t24842\t23006\t22918\t22303\nNet Interest Income Tax-Equivalent 3\t25184\t25123\t23294\t23239\t22647\nNet Interest Margin annualized\t2.90%\t3.05%\t3.05%\t3.06%\t3.07%\nNet Interest Margin Tax Equivalent annualized 3\t2.93%\t3.08%\t3.09%\t3.10%\t3.12%\nEfficiency Ratio Calculation: 4\t\t\t\t\t\nNoninterest Expense\t17487\t17245\t17754\t17099\t16791\nLess: Intangible Asset Amortization\t56\t57\t58\t60\t61\nNet Noninterest Expense\t17431\t17188\t17696\t17039\t16730\nNet Interest Income Tax-Equivalent 3\t25184\t25123\t23294\t23238\t22647\nNoninterest Income\t8697\t7164\t7694\t7081\t7691\nLess: Net Changes in Fair Value of Equity Invest.\t(72)\t(106)\t(374)\t67\t146\nNet Gross Income\t33953\t32393\t31362\t30252\t30192\nEfficiency Ratio 4\t51.34%\t53.06%\t56.42%\t56.32%\t55.41%\nPeriod-End Capital Information:\t\t\t\t\t\nTotal Stockholders' Equity (i.e. Book Value)\t325660\t317687\t309398\t301728\t292228\nBook Value per Share 1\t21.03\t20.55\t20.05\t19.53\t18.95\nGoodwill and Other Intangible Assets net\t23662\t23535\t23513\t23534\t23586\nTangible Book Value per Share 12\t19.50\t19.03\t18.53\t18.01\t17.42\nCapital Ratios:5\t\t\t\t\t\nTier 1 Leverage Ratio\t9.17%\t9.32%\t9.87%\t9.98%\t10.04%\nCommon Equity Tier 1 Capital Ratio\t13.20%\t13.07%\t12.84%\t12.94%\t12.93%\nTier 1 Risk-Based Capital Ratio\t14.06%\t13.94%\t13.72%\t13.83%\t13.85%\nTotal Risk-Based Capital Ratio\t15.28%\t15.10%\t14.76%\t14.78%\t14.81%\nAssets Under Trust Admin. & Investment Mgmt.\t1537128\t1502866\t1342531\t1543653\t1485116\n", "q10k_tbl_45": "Footnotes:\t\t\t\t\t\t\n1.\tShare and Per Share Data have been restated for the September 25 2020 3% stock dividend.\t\t\t\t\t\n2.\tNon-GAAP Financial Measures Reconciliation: Tangible Book Value Tangible Equity and Return on Tangible Equity exclude goodwill and other intangible assets net from total equity. These are non-GAAP financial measures which the Company believes provide investors with information that is useful in understanding our financial performance. See \"Use of Non-GAAP Financial Measures\" on page 42.\t\t\t\t\t\n\t\t9/30/2020\t6/30/2020\t3/31/2020\t12/31/2019\t9/30/2019\n\tTotal Stockholders' Equity (GAAP)\t325660\t317687\t309398\t301728\t292228\n\tLess: Goodwill and Other Intangible assets net\t23662\t23535\t23513\t23534\t23586\n\tTangible Equity (Non-GAAP)\t301998\t294152\t285885\t278194\t268642\n\tPeriod End Shares Outstanding\t15489\t15461\t15432\t15448\t15418\n\tTangible Book Value per Share (Non-GAAP)\t19.50\t19.03\t18.53\t18.01\t17.42\n\tNet Income\t11046\t9159\t8127\t9740\t10067\n\tReturn on Average Tangible Equity (Net Income/Tangible Equity - Annualized)\t14.61%\t12.58%\t11.55%\t14.18%\t15.05%\n3.\tNon-GAAP Financial Measures Reconciliation: Net Interest Margin Tax-Equivalent is the ratio of our annualized tax-equivalent net interest income to average earning assets. This is also a non-GAAP financial measure which Arrow believes provides investors with information that is useful in understanding our financial performance. See \"Use of Non-GAAP Financial Measures\" on page 42.\t\t\t\t\t\n\t\t9/30/2020\t6/30/2020\t3/31/2020\t12/31/2019\t9/30/2019\n\tInterest Income (GAAP)\t27296\t28002\t28226\t28367\t27952\n\tAdd: Tax-Equivalent adjustment (Non-GAAP)\t284\t281\t288\t321\t344\n\tInterest Income - Tax Equivalent (Non-GAAP)\t27580\t28283\t28514\t28688\t28296\n\tNet Interest Income (GAAP)\t24900\t24842\t23006\t22918\t22303\n\tAdd: Tax-Equivalent adjustment (Non-GAAP)\t284\t281\t288\t321\t344\n\tNet Interest Income - Tax Equivalent (Non-GAAP)\t25184\t25123\t23294\t23239\t22647\n\tAverage Earning Assets\t3417638\t3281223\t3030881\t2969972\t2881035\n\tNet Interest Margin (Non-GAAP)*\t2.93%\t3.08%\t3.09%\t3.10%\t3.12%\n4.\tNon-GAAP Financial Measures: Financial Institutions often use the \"efficiency ratio\" a non-GAAP ratio as a measure of expense control. Arrow believes that the efficiency ratio provides investors with information that is useful in understanding our financial performance. Arrow defines efficiency ratio as the ratio of our noninterest expense to our net gross income (which equals tax-equivalent net interest income plus noninterest income as adjusted). There is no GAAP financial measure that is closely comparable to the efficiency ratio. See \"Use of Non-GAAP Financial Measures\" on page 42.\t\t\t\t\t\n5.\tFor the current quarter all of the regulatory capital ratios in the table above as well as the Total Risk-Weighted Assets and Common Equity Tier 1 Capital amounts listed in the table below are estimates based on and calculated in accordance with bank regulatory capital rules. All prior quarters reflect actual results. The CET1 ratio at September 30 2020 listed in the tables (i.e. 13.20%) exceeds the sum of the required minimum CET1 ratio plus the fully phased-in Capital Conservation Buffer (i.e. 7.00%).\t\t\t\t\t\n\t\t9/30/2020\t6/30/2020\t3/31/2020\t12/31/2019\t9/30/2019\n\tTotal Risk Weighted Assets\t2321637\t2283430\t2275902\t2237127\t2184214\n\tCommon Equity Tier 1 Capital\t306356\t298362\t292165\t289409\t282485\n\tCommon Equity Tier 1 Capital Ratio\t13.20%\t13.07%\t12.84%\t12.94%\t12.93%\n* Quarterly ratios have been annualized.\t\t\t\t\t\t\n", "q10k_tbl_46": "Nine Months Ended\t9/30/2020\t9/30/2019\nNet Income\t28332\t27735\nTransactions Recorded in Net Income (Net of Tax):\t\t\nNet Changes in Fair Value of Equity Investments\t(412)\t166\nShare and Per Share Data: 1\t\t\nPeriod End Shares Outstanding\t15489\t15418\nBasic Average Shares Outstanding\t15453\t15375\nDiluted Average Shares Outstanding\t15467\t15417\nBasic Earnings Per Share\t1.83\t1.80\nDiluted Earnings Per Share\t1.83\t1.80\nCash Dividend Per Share\t0.76\t0.74\nSelected Year-to-Date Average Balances:\t\t\nInterest-Bearing Deposits at Banks\t144244\t26121\nInvestment Securities\t601069\t580062\nLoans\t2498573\t2258633\nDeposits\t2902307\t2419390\nOther Borrowed Funds\t145463\t271198\nStockholders' Equity\t315757\t280769\nTotal Assets\t3401114\t2999354\nReturn on Average Assets annualized\t1.11%\t1.24%\nReturn on Average Equity annualized\t11.99%\t13.21%\nReturn on Average Tangible Equity annualized 2\t12.95%\t14.42%\nAverage Earning Assets\t3243886\t2864816\nAverage Paying Liabilities\t2455544\t2224463\nInterest Income\t83524\t81392\nTax-Equivalent Adjustment 3\t853\t1093\nInterest Income Tax-Equivalent 3\t84377\t82485\nInterest Expense\t10776\t16261\nNet Interest Income\t72748\t65131\nNet Interest Income Tax-Equivalent 3\t73601\t66224\nNet Interest Margin annualized\t3.00%\t3.04%\nNet Interest Margin Tax Equivalent annualized 3\t3.03%\t3.09%\nEfficiency Ratio Calculation: 4\t\t\nNoninterest Expense\t52486\t50351\nLess: Intangible Asset Amortization\t171\t184\nNet Noninterest Expense\t52315\t50167\nNet Interest Income Tax-Equivalent 3\t73601\t66224\nNoninterest Income\t23555\t21474\nLess: Net Changes in Fair Value of Equity Securities\t(552)\t222\nNet Gross Income\t97708\t87476\nEfficiency Ratio 4\t53.54%\t57.35%\n", "q10k_tbl_47": "Footnotes:\t\t\t\n1.\tShare and Per Share Data have been restated for the September 25 2020 3% stock dividend.\t\t\n2.\tTangible Book Value Tangible Equity and Return on Tangible Equity exclude goodwill and other intangible assets net from total equity. These are non-GAAP financial measures which the Company believes provide investors with information that is useful in understanding our financial performance. See \"Use of Non-GAAP Financial Measures\" on page 42.\t\t\n\t\t9/30/2020\t9/30/2019\n\tTotal Stockholders' Equity (GAAP)\t325660\t292228\n\tLess: Goodwill and Other Intangible assets net\t23662\t23586\n\tTangible Equity (Non-GAAP)\t301998\t268642\n\tPeriod End Shares Outstanding\t15489\t15418\n\tTangible Book Value per Share (Non-GAAP)\t19.50\t17.42\n\tNet Income\t28332\t27735\n\tReturn on Average Tangible Equity (Net Income/Tangible Equity - Annualized)\t12.95%\t14.42%\n3.\tNet Interest Margin is the ratio of our annualized tax-equivalent net interest income to average earning assets. This is also a non-GAAP financial measure which the Company believes provides investors with information that is useful in understanding our financial performance. See \"Use of Non-GAAP Financial Measures\" on page 42.\t\t\n\t\t9/30/2020\t9/30/2019\n\tInterest Income (GAAP)\t83524\t81392\n\tAdd: Tax-Equivalent adjustment (Non-GAAP)\t853\t1093\n\tNet Interest Income - Tax Equivalent (Non-GAAP)\t84377\t82485\n\tNet Interest Income (GAAP)\t72748\t65131\n\tAdd: Tax-Equivalent adjustment (Non-GAAP)\t853\t1093\n\tNet Interest Income - Tax Equivalent (Non-GAAP)\t73601\t66224\n\tAverage Earning Assets\t3243886\t2864816\n\tNet Interest Margin (Non-GAAP)*\t3.03%\t3.09%\n4.\tFinancial Institutions often use the \"efficiency ratio\" a non-GAAP ratio as a measure of expense control. The Company believes efficiency ratio provides investors with information that is useful in understanding financial performance. Efficiency ratio is defined as the ratio of our noninterest expense to our net gross income (which equals our tax-equivalent net interest income plus noninterest income as adjusted). See \"Use of Non-GAAP Financial Measures\" on page 42.\t\t\n* Year-to-date ratios have been annualized.\t\t\t\n", "q10k_tbl_48": "Average Consolidated Balance Sheets and Net Interest Income Analysis\t\t\t\t\t\t\n(Dollars In Thousands)\t\t\t\t\t\t\nQuarter Ended September 30:\t2020\t\t\t2019\t\t\n\t\tInterest\tRate\t\tInterest\tRate\n\tAverage\tIncome/\tEarned/\tAverage\tIncome/\tEarned/\n\tBalance\tExpense\tPaid\tBalance\tExpense\tPaid\nInterest-Bearing Deposits at Banks\t242928\t64\t0.10%\t27083\t182\t2.67%\nInvestment Securities:\t\t\t\t\t\t\nFully Taxable\t395349\t1557\t1.57\t328328\t2018\t2.44\nExempt from Federal Taxes\t197108\t969\t1.96\t216745\t1132\t2.07\nLoans\t2582253\t24706\t3.81\t2308879\t24620\t4.23\nTotal Earning Assets\t3417638\t27296\t3.18\t2881035\t27952\t3.85\nAllowance for Credit Losses\t(26310)\t\t\t(20617)\t\t\nCash and Due From Banks\t37905\t\t\t36423\t\t\nOther Assets\t154089\t\t\t126202\t\t\nTotal Assets\t3583322\t\t\t3023043\t\t\nDeposits:\t\t\t\t\t\t\nInterest-Bearing Checking Accounts\t764614\t264\t0.14\t686017\t500\t0.29\nSavings Deposits\t1314241\t806\t0.24\t924868\t2317\t0.99\nTime Deposits of $250000 or More\t121027\t292\t0.96\t86018\t451\t2.08\nOther Time Deposits\t209436\t576\t1.09\t285448\t1255\t1.74\nTotal Interest-Bearing Deposits\t2409318\t1938\t0.32\t1982351\t4523\t0.91\nShort-Term Borrowings\t60894\t17\t0.11\t176028\t703\t1.58\nFHLBNY Term Advances & Other Long-Term Debt\t70000\t392\t2.23\t50000\t395\t3.13\nFinance Leases\t5223\t49\t3.73\t5263\t28\t2.11\nTotal Interest-Bearing Liabilities\t2545435\t2396\t0.37\t2213642\t5649\t1.01\nNoninterest-bearing deposits\t673181\t\t\t490177\t\t\nOther Liabilities\t40437\t\t\t30208\t\t\nTotal Liabilities\t3259053\t\t\t2734027\t\t\nStockholders' Equity\t324269\t\t\t289016\t\t\nTotal Liabilities and Stockholders' Equity\t3583322\t\t\t3023043\t\t\nNet Interest Income\t\t24900\t\t\t22303\t\nNet Interest Spread\t\t\t2.81%\t\t\t2.84%\nNet Interest Margin\t\t\t2.90%\t\t\t3.07%\n", "q10k_tbl_49": "Average Consolidated Balance Sheets and Net Interest Income Analysis\t\t\t\t\t\t\n(Dollars In Thousands)\t\t\t\t\t\t\nNine Months Ended September 30:\t2020\t\t\t2019\t\t\n\t\tInterest\tRate\t\tInterest\tRate\n\tAverage\tIncome/\tEarned/\tAverage\tIncome/\tEarned/\n\tBalance\tExpense\tPaid\tBalance\tExpense\tPaid\nInterest-Bearing Deposits at Banks\t144244\t229\t0.21%\t26121\t572\t2.93%\nInvestment Securities:\t\t\t\t\t\t\nFully Taxable\t399958\t5621\t1.88\t353428\t6671\t2.52\nExempt from Federal Taxes\t201111\t3017\t2.00\t226634\t3606\t2.13\nLoans\t2498573\t74657\t3.99\t2258633\t70543\t4.18\nTotal Earning Assets\t3243886\t83524\t3.44\t2864816\t81392\t3.80\nAllowance for Credit Losses\t(24037)\t\t\t(20352)\t\t\nCash and Due From Banks\t34624\t\t\t34907\t\t\nOther Assets\t146641\t\t\t119983\t\t\nTotal Assets\t3401114\t\t\t2999354\t\t\nDeposits:\t\t\t\t\t\t\nInterest-Bearing Checking Accounts\t737647\t1061\t0.19\t728931\t1435\t0.26\nSavings Deposits\t1207896\t4450\t0.49\t879576\t5926\t0.90\nTime Deposits of $250000 or More\t127659\t1263\t1.32\t87714\t1362\t2.08\nOther Time Deposits\t236879\t2360\t1.33\t257044\t3099\t1.61\nTotal Interest-Bearing Deposits\t2310081\t9134\t0.53\t1953265\t11822\t0.81\nShort-Term Borrowings\t69132\t241\t0.47\t212977\t3102\t1.95\nFHLBNY Term Advances and Other Long-Term Debt\t71095\t1253\t2.35\t54469\t1266\t3.11\nFinance Leases\t5236\t148\t3.78\t3752\t71\t3.72\nTotal Interest-Bearing Liabilities\t2455544\t10776\t0.59\t2224463\t16261\t0.98\nNoninterest-bearing deposits\t592226\t\t\t466125\t\t\nOther Liabilities\t37587\t\t\t27998\t\t\nTotal Liabilities\t3085357\t\t\t2718586\t\t\nStockholders' Equity\t315757\t\t\t280768\t\t\nTotal Liabilities and Stockholders' Equity\t3401114\t\t\t2999354\t\t\nNet Interest Income\t\t72748\t\t\t65131\t\nNet Interest Spread\t\t\t2.85%\t\t\t2.82%\nNet Interest Margin\t\t\t3.00%\t\t\t3.04%\n", "q10k_tbl_50": "\tSeptember 30 2020\tAt Period-End December 31 2019\tSeptember 30 2019\t Change From December\t Change From September\t% Change From December (not annualized)\t% Change From September\nInterest-Bearing Bank Balances\t396380\t23186\t26416\t373194\t369964\t1609.6%\t1400.5%\nSecurities Available-for-Sale\t374928\t357334\t314182\t17594\t60746\t4.9%\t19.3%\nSecurities Held-to-Maturity\t224799\t245065\t255095\t(20266)\t(30296)\t(8.3)%\t(11.9)%\nEquity Securities\t1511\t2063\t1996\t(552)\t(485)\t(26.8)%\t(24.3)%\nLoans (1)\t2592455\t2386120\t2335591\t206335\t256864\t8.6%\t11.0%\nAllowance for loan losses\t28446\t21187\t20931\t7259\t7515\t34.3%\t35.9%\nEarning Assets (1)\t3595647\t3024085\t2939907\t571562\t655740\t18.9%\t22.3%\nTotal Assets\t3777684\t3184275\t3112822\t593409\t664862\t18.6%\t21.4%\nNoninterest-Bearing Deposits\t690232\t484944\t516876\t205288\t173356\t42.3%\t33.5%\nInterest-Bearing Checking Accounts\t912980\t689221\t801446\t223759\t111534\t32.5%\t13.9%\nSavings Deposits\t1354956\t1046568\t929691\t308388\t425265\t29.5%\t45.7%\nTime Deposits over $250000\t112555\t123968\t96770\t(11413)\t15785\t(9.2)%\t16.3%\nOther Time Deposits\t194135\t271353\t269764\t(77218)\t(75629)\t(28.5)%\t(28.0)%\nTotal Deposits\t3264858\t2616054\t2614547\t648804\t650311\t24.8%\t24.9%\nFederal Funds Purchased and Securities Sold Under Agreements to Repurchase\t73949\t51099\t72869\t22850\t1080\t44.7%\t1.5%\nFHLBNY Advances - Overnight\t0\t130000\t48000\t(130000)\t(48000)\t(100.0)%\t(100.0)%\nFHLBNY Advances - Term\t50000\t30000\t30000\t20000\t20000\t66.7%\t66.7%\nJunior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts\t20000\t20000\t20000\t0\t0\t-%\t-%\nStockholders' Equity\t325660\t301728\t292228\t23932\t33432\t7.9%\t11.4%\n", "q10k_tbl_51": "\t(Dollars in Thousands)\t\t\t\t\t\n\tFair Value at Period-End\t\t\tNet Unrealized Gains (Losses) For Period Ended\t\t\n\t9/30/2020\t12/31/2019\tChange\t9/30/2020\t12/31/2019\tChange\nSecurities Available-for-Sale:\t\t\t\t\t\t\nU.S. Agency Securities\t35167\t5054\t30113\t166\t52\t114\nState and Municipal Obligations\t593\t764\t(171)\t0\t0\t0\nMortgage-Backed Securities\t338368\t350716\t(12348)\t8481\t772\t7709\nCorporate and Other Debt Securities\t800\t800\t0\t(200)\t(200)\t0\nTotal\t374928\t357334\t17594\t8447\t624\t7823\nSecurities Held-to-Maturity:\t\t\t\t\t\t\nState and Municipal Obligations\t203180\t212319\t(9139)\t7445\t4076\t3369\nMortgage-Backed Securities\t30321\t37299\t(6978)\t1257\t477\t780\nTotal\t233501\t249618\t(16117)\t8702\t4553\t4149\nEquity Securities\t1511\t2063\t(552)\t0\t0\t0\n", "q10k_tbl_52": "(In Thousands)\tThree Months Ended\t\tNine Months Ended\t\nPurchases:\t9/30/2020\t9/30/2019\t9/30/2020\t9/30/2019\nAvailable-for-Sale Portfolio\t\t\t\t\nMortgage-Backed Securities\t30000\t55028\t86832\t70418\nMaturities & Calls\t32809\t27391\t75449\t79077\n", "q10k_tbl_53": "\tThree Months Ended\t\tNine Months Ended\t\nPurchases:\t9/30/2020\t9/30/2019\t9/30/2020\t9/30/2019\nHeld-to-Maturity Portfolio\t\t\t\t\nState and Municipal Obligations\t1842\t1302\t6848\t3398\nMaturities & Calls\t10384\t8553\t26570\t31161\n", "q10k_tbl_54": "\tQuarter Ended\t\t\t\t\n\t9/30/2020\t6/30/2020\t3/31/2020\t12/31/2019\t9/30/2019\nCommercial\t276296\t234732\t140486\t133550\t125498\nCommercial Real Estate\t538914\t530808\t518931\t505639\t493819\nConsumer\t841009\t840734\t818892\t817463\t809641\nResidential Real Estate\t926034\t911924\t916037\t901458\t879921\nTotal Loans\t2582253\t2518198\t2394346\t2358110\t2308879\n", "q10k_tbl_55": "\tQuarter Ended\t\t\t\t\n\t9/30/2020\t6/30/2020\t3/31/2020\t12/31/2019\t9/30/2019\nCommercial\t9.3%\t9.3%\t5.9%\t5.7%\t5.4%\nCommercial Real Estate\t21.1%\t21.1%\t21.6%\t21.4%\t21.4%\nConsumer\t33.4%\t33.4%\t34.2%\t34.7%\t35.1%\nResidential Real Estate\t36.2%\t36.2%\t38.3%\t38.2%\t38.1%\nTotal Loans\t100.0%\t100.0%\t100.0%\t100.0%\t100.0%\n", "q10k_tbl_56": "\tQuarter Ended\t\t\t\t\n\t9/30/2020\t6/30/2020\t3/31/2020\t12/31/2019\t9/30/2019\nCommercial\t3.73%\t3.84%\t4.52%\t4.54%\t4.60%\nCommercial Real Estate\t3.91%\t4.05%\t4.34%\t4.53%\t4.57%\nConsumer\t3.89%\t3.90%\t3.97%\t4.01%\t3.95%\nResidential Real Estate\t3.86%\t4.08%\t4.20%\t4.20%\t4.27%\nTotal Loans\t3.81%\t4.01%\t4.18%\t4.19%\t4.23%\n", "q10k_tbl_57": "\tQuarter Ended\t\t\t\t\n\t9/30/2020\t6/30/2020\t3/31/2020\t12/31/2019\t9/30/2019\nNoninterest-Bearing Deposits\t673181\t624125\t478481\t491494\t490177\nInterest-Bearing Checking Accounts\t764614\t740284\t707747\t724668\t686017\nSavings Deposits\t1314241\t1215296\t1092980\t1003612\t924868\nTime Deposits over $250000\t121027\t135978\t126046\t120321\t86018\nOther Time Deposits\t209436\t236749\t264755\t267326\t285448\nTotal Deposits\t3082499\t2952432\t2670009\t2607421\t2472528\n", "q10k_tbl_58": "\tQuarter Ended\t\t\t\t\n\t9/30/2020\t6/30/2020\t3/31/2020\t12/31/2019\t9/30/2019\nNoninterest-Bearing Deposits\t21.8%\t21.1%\t17.9%\t18.8%\t19.8%\nInterest-Bearing Checking Accounts\t24.8\t25.1\t26.5\t27.8\t27.7\nSavings Deposits\t42.7\t41.2\t41.0\t38.5\t37.5\nTime Deposits over $250000\t3.9\t4.6\t4.7\t4.6\t3.5\nOther Time Deposits\t6.8\t8.0\t9.9\t10.3\t11.5\nTotal Deposits\t100.0%\t100.0%\t100.0%\t100.0%\t100.0%\n", "q10k_tbl_59": "\tQuarter Ended\t\t\t\t\n\t9/30/2020\t6/30/2020\t3/31/2020\t12/31/2019\t9/30/2019\nDemand Deposits\t-%\t-%\t-%\t-%\t-%\nInterest-Bearing Checking Accounts\t0.14%\t0.17%\t0.28%\t0.30%\t0.29%\nSavings Deposits\t0.24%\t0.39%\t0.91%\t0.98%\t0.99%\nTime Deposits over $250000\t0.96%\t1.30%\t1.70%\t1.88%\t2.08%\nOther Time Deposits\t1.09%\t1.33%\t1.52%\t1.67%\t1.74%\nTotal Deposits\t0.25%\t0.37%\t0.68%\t0.72%\t0.73%\n", "q10k_tbl_60": "\t9/30/2020\t6/30/2020\t3/31/2020\t12/31/2019\t9/30/2019\nLoan Balances:\t\t\t\t\t\nPeriod-End Loans\t2592455\t2561915\t2414193\t2386120\t2335591\nAverage Loans Year-to-Date\t2498573\t2456272\t2394346\t2283707\t2258633\nAverage Loans Quarter-to-Date\t2582253\t2518198\t2394346\t2358110\t2308879\nPeriod-End Assets\t3777684\t3547177\t3291332\t3184275\t3112822\nAllowance for loan losses Year-to-Date:\t\t\t\t\t\nAllowance for loan losses Beginning of Period\t21187\t21187\t21187\t20196\t20196\nProvision for Loan Losses YTD\t8083\t5812\t2772\t2079\t1445\nLoans Charged-off YTD\t(1360)\t(968)\t(481)\t(1735)\t(1232)\nRecoveries of Loans Previously Charged-off\t536\t269\t159\t647\t522\nNet Charge-offs YTD\t(824)\t(699)\t(322)\t(1088)\t(710)\nAllowance for loan losses End of Period\t28446\t26300\t23637\t21187\t20931\nAllowance for loan losses Quarter-to-Date:\t\t\t\t\t\nAllowance for loan losses Beginning of Period\t26300\t23637\t21187\t20931\t20695\nProvision for Loan Losses QTD\t2271\t3040\t2772\t634\t518\nLoans Charged-off QTD\t(392)\t(487)\t(481)\t(503)\t(402)\nRecoveries of Loans Previously Charged-off\t267\t110\t159\t125\t120\nNet Charge-offs QTD\t(125)\t(377)\t(322)\t(378)\t(282)\nAllowance for loan losses End of Period\t28446\t26300\t23637\t21187\t20931\nNonperforming Assets at Period-End:\t\t\t\t\t\nNonaccrual Loans\t6004\t5461\t4943\t4005\t3465\nLoans Past Due 90 or More Days and Still Accruing Interest\t121\t901\t437\t253\t1066\nRestructured and in Compliance with Modified Terms\t157\t150\t136\t143\t150\nTotal Nonperforming Loans\t6282\t6512\t5516\t4401\t4681\nRepossessed Assets\t126\t116\t160\t139\t76\nOther Real Estate Owned\t0\t595\t782\t1122\t1198\nTotal Nonperforming Assets\t6408\t7223\t6458\t5662\t5955\nAsset Quality Ratios:\t\t\t\t\t\nAllowance to Nonperforming Loans\t452.82%\t403.87%\t428.52%\t481.41%\t447.15%\nAllowance to Period-End Loans\t1.10%\t1.03%\t0.98%\t0.89%\t0.90%\nProvision to Average Loans (Quarter) (1)\t0.35%\t0.49%\t0.47%\t0.11%\t0.09%\nProvision to Average Loans (YTD) (1)\t0.43%\t0.48%\t0.47%\t0.09%\t0.09%\nNet Charge-offs to Average Loans (Quarter) (1)\t0.02%\t0.06%\t0.05%\t0.06%\t0.05%\nNet Charge-offs to Average Loans (YTD) (1)\t0.04%\t0.06%\t0.05%\t0.05%\t0.04%\nNonperforming Loans to Total Loans\t0.24%\t0.25%\t0.23%\t0.18%\t0.20%\nNonperforming Assets to Total Assets\t0.17%\t0.20%\t0.20%\t0.18%\t0.19%\n(1) Annualized\t\t\t\t\t\n", "q10k_tbl_61": "Loans Past Due 30-89 Days and Accruing Interest ($ in 000's)\t\t\t\n\t9/30/2020\t12/31/2019\t9/30/2019\nCommercial Loans\t122\t192\t148\nCommercial Real Estate Loans\t85\t266\t30\nResidential Real Estate Loans\t1224\t1960\t1000\nConsumer Loans - Primarily Indirect Automobile\t6963\t8305\t6804\nTotal Loans Past Due 30-89 Days and Accruing Interest\t8394\t10723\t7982\n", "q10k_tbl_62": "COVID-19 Deferrals by Loan Category at September 30 2020 ($ in 000's)\t\t\t\t\n\tBalances by Sector\t\t\tDeferrals\t\t\t\t\t\t\t\t\t\n\t\tTotal\t% of Total Loans\tBalance\t% of Loan Segment\t\t\t\t\t\t% of Total Loans\t\t\nCommercial and Commercial Real Estate Loans:\t\t\t\t\t\t\t\t\t\t\t\t\t\nLessors of Non-Residential Real Estate\t\t141550\t5.5%\t6809\t0.8%\t\t\t\t\t\t0.3%\t\t\nHealth Care and Social Assistance\t\t126126\t4.9%\t0\t-%\t\t\t\t\t\t-%\t\t\nLessors of Residential Real Estate\t\t107377\t4.1%\t105\t-%\t\t\t\t\t\t-%\t\t\nHotels and Motels\t\t105883\t4.1%\t65304\t8.0%\t\t\t\t\t\t2.5%\t\t\nArts/Recreation/Restaurants/Vacation Camps\t\t53268\t2.1%\t12557\t1.5%\t\t\t\t\t\t0.5%\t\t\nRetail\t\t46008\t1.8%\t121\t-%\t\t\t\t\t\t-%\t\t\nConstruction & Related\t\t36671\t1.4%\t0\t-%\t\t\t\t\t\t-%\t\t\nOther\t\t200271\t7.7%\t1180\t-%\t\t\t\t\t\t-%\t\t\nTotal Commercial and Commercial Real Estate Loans\t\t817154\t31.5%\t86076\t10.5%\t\t\t\t\t\t3.3%\t\t\nConsumer Loans\t\t849526\t32.8%\t2810\t0.3%\t\t\t\t\t\t0.1%\t\t\nResidential Real Estate Loans\t\t925775\t35.7%\t11098\t1.2%\t\t\t\t\t\t0.4%\t\t\nTotal Loans\t\t2592455\t\t99984\t\t\t\t\t\t\t3.9%\t\t\n", "q10k_tbl_63": "Capital Ratio\t2020\nMinimum CET1 Ratio\t4.500%\nCapital Conservation Buffer (\"Buffer\")\t2.500%\nMinimum CET1 Ratio Plus Buffer\t7.000%\nMinimum Tier 1 Risk-Based Capital Ratio\t6.000%\nMinimum Tier 1 Risk-Based Capital Ratio Plus Buffer\t8.500%\nMinimum Total Risk-Based Capital Ratio\t8.000%\nMinimum Total Risk-Based Capital Ratio Plus Buffer\t10.500%\nMinimum Leverage Ratio\t4.000%\n", "q10k_tbl_64": "\tCommon\tTier 1\tTotal\t\n\tEquity\tRisk-Based\tRisk-Based\tTier 1\n\tTier 1 Capital\tCapital\tCapital\tLeverage\n\tRatio\tRatio\tRatio\tRatio\nArrow Financial Corporation\t13.20%\t14.06%\t15.28%\t9.17%\nGlens Falls National Bank & Trust Co.\t13.98%\t13.98%\t15.21%\t8.82%\nSaratoga National Bank & Trust Co.\t12.29%\t12.29%\t13.51%\t8.63%\nFDICIA's Prompt Corrective Action - \"Well-Capitalized\" Standard (2019)\t6.50%\t8.00%\t10.00%\t5.00%\nRegulatory Minimum effective 1/1/2019\t7.000%(1)\t8.500%(1)\t10.500%(1)\t4.00%\n(1) Including the fully phased-in 2.50% capital conservation buffer\t\t\t\t\n", "q10k_tbl_65": "\t\t\tCash\n\tMarket Price\t\tDividends\n\tLow\tHigh\tDeclared\n2019\t\t\t\nFirst Quarter\t28.71\t34.17\t0.245\nSecond Quarter\t30.05\t32.94\t0.245\nThird Quarter\t29.38\t34.28\t0.245\nFourth Quarter\t31.09\t37.19\t0.252\n2020\t\t\t\nFirst Quarter\t20.18\t36.93\t0.252\nSecond Quarter\t22.87\t30.76\t0.252\nThird Quarter\t24.58\t29.13\t0.252\nFourth Quarter (dividend payable December 15 2020)\tTBD\tTBD\t\n", "q10k_tbl_66": "\tQuarter Ended September 30\t\n\t2020\t2019\nCash Dividends Per Share\t0.252\t0.245\nDiluted Earnings Per Share\t0.71\t0.65\nDividend Payout Ratio\t35.49%\t37.69%\nTotal Equity (in thousands)\t325660\t292228\nShares Issued and Outstanding (in thousands)\t15489\t15418\nBook Value Per Share\t21.03\t18.95\nIntangible Assets (in thousands)\t23662\t23586\nTangible Book Value Per Share\t19.50\t17.42\n", "q10k_tbl_67": "\tThree Months Ended\t\t\t\n\tSeptember 30 2020\tSeptember 30 2019\tChange\t% Change\nNet Income\t11046\t10067\t979\t9.7%\nDiluted Earnings Per Share\t0.71\t0.65\t0.06\t9.2%\nReturn on Average Assets\t1.23%\t1.32%\t(0.09)%\t(6.8)%\nReturn on Average Equity\t13.55%\t13.82%\t(0.27)%\t(2.0)%\n", "q10k_tbl_68": "\tThree Months Ended\t\t\t\n\tSeptember 30 2020\tSeptember 30 2019\tChange\t% Change\nInterest and Dividend Income\t27296\t27952\t(656)\t(2.3)%\nInterest Expense\t2396\t5649\t(3253)\t(57.6)%\nNet Interest Income\t24900\t22303\t2597\t11.6%\nAverage Earning Assets(1)\t3417638\t2881035\t536603\t18.6%\nAverage Interest-Bearing Liabilities\t2545435\t2213642\t331793\t15.0%\nYield on Earning Assets(1)\t3.18%\t3.85%\t(0.67)\t(17.4)%\nCost of Interest-Bearing Liabilities\t0.37\t1.01\t(0.64)\t(63.4)\nNet Interest Spread\t2.81\t2.84\t(0.03)\t(1.1)\nNet Interest Margin\t2.90\t3.07\t(0.17)\t(5.5)\n", "q10k_tbl_69": "\tThree Months Ended\t\t\t\n\tSeptember 30 2020\tSeptember 30 2019\tChange\t% Change\nIncome From Fiduciary Activities\t2265\t2212\t53\t2.4%\nFees for Other Services to Customers\t2619\t2623\t(4)\t(0.2)%\nInsurance Commissions\t1713\t1936\t(223)\t(11.5)%\nNet (Loss) Gain on Securities Transactions\t(72)\t146\t(218)\t(149.3)%\nNet Gain on the Sale of Loans\t1433\t257\t1176\t457.6%\nOther Operating Income\t739\t517\t222\t42.9%\nTotal Noninterest Income\t8697\t7691\t1006\t13.1%\n", "q10k_tbl_70": "\tThree Months Ended\t\t\t\n\tSeptember 30 2020\tSeptember 30 2019\tChange\t% Change\nSalaries and Employee Benefits\t10408\t10015\t393\t3.9%\nOccupancy Expense of Premises Net\t1427\t1324\t103\t7.8%\nTechnology and Equipment Expense\t3228\t3305\t(77)\t(2.3)%\nFDIC and FICO Assessments\t309\t(480)\t789\t(164.4)%\nAmortization\t56\t61\t(5)\t(8.2)%\nOther Operating Expense\t2059\t2566\t(507)\t(19.8)%\nTotal Noninterest Expense\t17487\t16791\t696\t4.1%\nEfficiency Ratio\t51.34%\t55.41%\t(4.07)\t(7.3)%\n", "q10k_tbl_71": "\tThree Months Ended\t\t\t\n\tSeptember 30 2020\tSeptember 30 2019\tChange\t% Change\nProvision for Income Taxes\t2793\t2618\t175\t6.7%\nEffective Tax Rate\t20.2%\t20.6%\t(0.4)\t(1.9)%\n", "q10k_tbl_72": "\tNine Months Ended\t\t\t\n\tSeptember 30 2020\tSeptember 30 2019\tChange\t% Change\nNet Income\t28332\t27735\t597\t2.2%\nDiluted Earnings Per Share\t1.83\t1.80\t0.03\t1.7\nReturn on Average Assets\t1.11%\t1.24%\t(0.13)%\t(10.5)\nReturn on Average Equity\t11.99%\t13.21%\t(1.22)%\t(9.2)\n", "q10k_tbl_73": "\tNine Months Ended\t\t\t\n\tSeptember 30 2020\tSeptember 30 2019\tChange\t% Change\nInterest and Dividend Income\t83524\t81392\t2132\t2.6%\nInterest Expense\t10776\t16261\t(5485)\t(33.7)%\nNet Interest Income\t72748\t65131\t7617\t11.7%\nAverage Earning Assets (1)\t3243886\t2864816\t379070\t13.2%\nAverage Interest-Bearing Liabilities\t2455544\t2224463\t231081\t10.4%\nYield on Earning Assets (1)\t3.44%\t3.80%\t(0.36)%\t(9.5)%\nCost of Interest-Bearing Liabilities\t0.59\t0.98\t(0.39)%\t(39.8)%\nNet Interest Spread\t2.85\t2.82\t0.03%\t1.1%\nNet Interest Margin\t3.00\t3.04\t(0.04)%\t(1.3)%\n", "q10k_tbl_74": "\tNine Months Ended\t\t\t\n\tSeptember 30 2020\tSeptember 30 2019\tChange\t% Change\nIncome From Fiduciary Activities\t6613\t6571\t42\t0.6%\nFees for Other Services to Customers\t7348\t7570\t(222)\t(2.9)\nInsurance Commissions\t5077\t5590\t(513)\t(9.2)\nNet (Loss) Gain on Securities\t(552)\t222\t(774)\t(348.6)\nNet Gain on the Sale of Loans\t2193\t501\t1692\t337.7\nOther Operating Income\t2876\t1020\t1856\t182.0\nTotal Noninterest Income\t23555\t21474\t2081\t9.7%\n", "q10k_tbl_75": "\tNine Months Ended\t\t\t\n\tSeptember 30 2020\tSeptember 30 2019\tChange\t% Change\nSalaries and Employee Benefits\t31003\t29061\t1942\t6.7%\nOccupancy Expense of Premises Net\t4221\t4023\t198\t4.9\nTechnology and Equipment Expense\t9807\t9689\t118\t1.2\nFDIC and FICO Assessments\t770\t(56)\t826\t(1475.0)\nAmortization\t171\t184\t(13)\t(7.1)\nOther Operating Expense\t6514\t7450\t(936)\t(12.6)\nTotal Noninterest Expense\t52486\t50351\t2135\t4.2\nEfficiency Ratio\t53.54%\t57.35%\t(3.81)\t(6.6)\n", "q10k_tbl_76": "\tNine Months Ended\t\t\t\n\tSeptember 30 2020\tSeptember 30 2019\tChange\t% Change\nProvision for Income Taxes\t7402\t7074\t328\t4.6%\nEffective Tax Rate\t20.7%\t20.3%\t0.4\t2.0\n", "q10k_tbl_77": "\tChange in Interest Rate\t\n\t+ 200 basis points\t- 100 basis points\nCalculated change in Net Interest Income - Year 1\t(0.46)%\t(0.87)%\nCalculated change in Net Interest Income - Year 2\t0.57%\t(12.07)%\n", "q10k_tbl_78": "Third Quarter 2020 Calendar Month\t(A) Total Number of Shares Purchased 1\t(B) Average Price Paid Per Share 1\t(C) Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs 2\t(D) Maximum Approximate Dollar Value of Shares that May Yet be Purchased Under the Plans or Programs 2\nJuly\t971\t27.48\t0\t3493345\nAugust\t1597\t28.00\t0\t3493345\nSeptember\t19811\t26.94\t0\t3493345\nTotal\t22379\t27.04\t0\t\n", "q10k_tbl_79": "Exhibit Number\tExhibit\n3.(i)\tCertificate of Incorporation of the Registrant as Amended through June 3 2019 incorporated by reference from the Registrant's Current Report on Form 8-K filed June 5 2019 Exhibit 3.1\n3.(ii)\tBy-laws of the Registrant as amended incorporated herein by reference from the Registrant's Current Report on Form 8-K filed on November 24 2009 Exhibit 3.(ii)\n15\tAwareness Letter\n31.1\tCertification of Chief Executive Officer under SEC Rule 13a-14(a)/15d-14(a)\n31.2\tCertification of Chief Financial Officer under SEC Rule 13a-14(a)/15d-14(a)\n32\tCertification of Chief Executive Officer under 18 U.S.C. Section 1350 and Certification of Chief Financial Officer under 18 U.S.C. Section 1350\n101.INS\tXBRL Instance Document\n101.SCH\tXBRL Taxonomy Extension Schema Document\n101.CAL\tXBRL Taxonomy Extension Calculation Linkbase Document\n101.DEF\tXBRL Taxonomy Extension Definition Linkbase Document\n101.LAB\tXBRL Taxonomy Extension Labels Linkbase Document\n101.PRE\tXBRL Taxonomy Extension Presentation Linkbase Document\n"}{"bs": "q10k_tbl_2", "is": "q10k_tbl_3", "cf": "q10k_tbl_8"}None
☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the Quarterly Period Ended September 30, 2020
or
☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Commission File Number: 0-12507
ARROW FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
New York
22-2448962
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
250 Glen Street
Glens Falls
New York
12801
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including area code:
518
745-1000
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class
Trading Symbol
Name of Each Exchange on Which Registered
Common Stock, Par Value $1.00 per share
AROW
NASDAQ Global Select Market
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ☒ Yes ☐ No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). ☑Yes ☐ No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer
☐
Accelerated filer
☑
Non-accelerated filer
☐
Smaller reporting company
☐
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standard provided pursuant to Section 13(a) of the Exchange Act. __
☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐ Yes ☑ No
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.
(In Thousands, Except Share and Per Share Amounts)
(Unaudited)
September 30, 2020
December 31, 2019
September 30, 2019
ASSETS
Cash and Due From Banks
$
54,286
$
47,035
$
65,882
Interest-Bearing Deposits at Banks
396,380
23,186
26,416
Investment Securities:
Available-for-Sale at Fair Value
374,928
357,334
314,182
Held-to-Maturity (Approximate Fair Value of $233,501 at September 30, 2020; $249,618 at December 31, 2019; and $259,128 at September 30, 2019)
224,799
245,065
255,095
Equity Securities
1,511
2,063
1,996
FHLB and Federal Reserve Bank Stock
5,574
10,317
6,627
Loans
2,592,455
2,386,120
2,335,591
Allowance for Loan Losses
(28,446)
(21,187)
(20,931)
Net Loans
2,564,009
2,364,933
2,314,660
Premises and Equipment, Net
42,075
40,629
40,228
Goodwill
21,873
21,873
21,873
Other Intangible Assets, Net
1,789
1,661
1,713
Other Assets
90,460
70,179
64,150
Total Assets
$
3,777,684
$
3,184,275
$
3,112,822
LIABILITIES
Noninterest-Bearing Deposits
$
690,232
$
484,944
$
516,876
Interest-Bearing Checking Accounts
912,980
689,221
801,446
Savings Deposits
1,354,956
1,046,568
929,691
Time Deposits over $250,000
112,555
123,968
96,770
Other Time Deposits
194,135
271,353
269,764
Total Deposits
3,264,858
2,616,054
2,614,547
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase
73,949
51,099
72,869
Federal Home Loan Bank Overnight Advances
—
130,000
48,000
Federal Home Loan Bank Term Advances
50,000
30,000
30,000
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts
20,000
20,000
20,000
Finance Leases
5,228
5,254
5,263
Other Liabilities
37,989
30,140
29,915
Total Liabilities
3,452,024
2,882,547
2,820,594
STOCKHOLDERS’ EQUITY
Preferred Stock, $1 Par Value and 1,000,000 Shares Authorized at September 30, 2020, December 31, 2019 and September 30, 2019
—
—
—
Common Stock, $1 Par Value; 30,000,000 Shares Authorized (20,194,474 Shares Issued at September 30, 2020 and 19,606,449 at December 31, 2019 and September 30, 2019)
20,194
19,606
19,606
Additional Paid-in Capital
353,062
335,355
334,597
Retained Earnings
33,434
33,218
27,375
Unallocated ESOP Shares (None at September 30, 2020 and December 31, 2019 and 5,151 Shares at September 30, 2019)
—
—
(100)
Accumulated Other Comprehensive Loss
(253)
(6,357)
(8,979)
Treasury Stock, at Cost (4,705,102 Shares at September 30, 2020; 4,608,258 Shares at December 31, 2019 and 4,632,657 Shares at September 30, 2019)
(80,777)
(80,094)
(80,271)
Total Stockholders’ Equity
325,660
301,728
292,228
Total Liabilities and Stockholders’ Equity
$
3,777,684
$
3,184,275
$
3,112,822
See Notes to Unaudited Interim Consolidated Financial Statements.
3
ARROW FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(In Thousands, Except Per Share Amounts)
(Unaudited)
Three Months Ended September 30
Nine Months Ended September 30,
2020
2019
2020
2019
INTEREST AND DIVIDEND INCOME
Interest and Fees on Loans
$
24,706
$
24,620
$
74,657
$
70,543
Interest on Deposits at Banks
64
182
229
572
Interest and Dividends on Investment Securities:
Fully Taxable
1,557
2,018
5,621
6,671
Exempt from Federal Taxes
969
1,132
3,017
3,606
Total Interest and Dividend Income
27,296
27,952
83,524
81,392
INTEREST EXPENSE
Interest-Bearing Checking Accounts
264
500
1,061
1,435
Savings Deposits
806
2,317
4,450
5,926
Time Deposits over $250,000
292
451
1,263
1,362
Other Time Deposits
576
1,255
2,360
3,099
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase
17
28
55
75
Federal Home Loan Bank Advances
219
820
865
3,513
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts
173
250
574
780
Interest on Financing Leases
49
28
148
71
Total Interest Expense
2,396
5,649
10,776
16,261
NET INTEREST INCOME
24,900
22,303
72,748
65,131
Provision for Loan Losses
2,271
518
8,083
1,445
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES
22,629
21,785
64,665
63,686
NONINTEREST INCOME
Income From Fiduciary Activities
2,265
2,212
6,613
6,571
Fees for Other Services to Customers
2,619
2,623
7,348
7,570
Insurance Commissions
1,713
1,936
5,077
5,590
Net (Loss) Gain on Securities
(72)
146
(552)
222
Net Gain on Sales of Loans
1,433
257
2,193
501
Other Operating Income
739
517
2,876
1,020
Total Noninterest Income
8,697
7,691
23,555
21,474
NONINTEREST EXPENSE
Salaries and Employee Benefits
10,408
10,015
31,003
29,061
Occupancy Expenses, Net
1,427
1,324
4,221
4,023
Technology and Equipment Expense
3,228
3,305
9,807
9,689
FDIC Assessments
309
(480)
770
(56)
Other Operating Expense
2,115
2,627
6,685
7,634
Total Noninterest Expense
17,487
16,791
52,486
50,351
INCOME BEFORE PROVISION FOR INCOME TAXES
13,839
12,685
35,734
34,809
Provision for Income Taxes
2,793
2,618
7,402
7,074
NET INCOME
$
11,046
$
10,067
$
28,332
$
27,735
Average Shares Outstanding 1:
Basic
15,472
15,404
15,453
15,375
Diluted
15,481
15,441
15,467
15,417
Per Common Share:
Basic Earnings
$
0.71
$
0.65
$
1.83
$
1.80
Diluted Earnings
0.71
0.65
1.83
1.80
12019 Share and Per Share Amounts have been restated for the September 25, 2020 3% stock dividend.
See Notes to Unaudited Interim Consolidated Financial Statements.
4
ARROW FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In Thousands)
(Unaudited)
Three Months Ended September 30
Nine Months Ended September 30
2020
2019
2020
2019
Net Income
$
11,046
$
10,067
$
28,332
$
27,735
Other Comprehensive Income, Net of Tax:
Net Unrealized Securities Holding (Losses) Gains Arising During the Period
(296)
499
5,823
4,323
Net Unrealized Gain on Cash Flow Hedge Agreements
238
—
37
—
Amortization of Net Retirement Plan Actuarial Loss
42
127
127
381
Amortization of Net Retirement Plan Prior Service Cost
39
42
117
127
Other Comprehensive Income
23
668
6,104
4,831
Comprehensive Income
$
11,069
$
10,735
$
34,436
$
32,566
See Notes to Unaudited Interim Consolidated Financial Statements.
5
ARROW FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY
(In Thousands, Except Share and Per Share Amounts)