Document_and_Entity_Informatio
Document and Entity Information Document (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Feb. 27, 2015 | Jun. 30, 2014 | |
Entity Information [Line Items] | |||
Entity Registrant Name | Arrow Financial Corporation | ||
Entity Central Index Key | 717538 | ||
Current Fiscal Year End Date | -19 | ||
Entity Filer Category | Accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | 31-Dec-14 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | FALSE | ||
Entity Common Stock, Shares Outstanding | 12,625,734 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $319,738,450 |
Consolidated_Balance_Sheet
Consolidated Balance Sheet (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
ASSETS | ||
Cash and Due from Banks | $35,081 | $37,275 |
Interest-Bearing Deposits at Banks | 11,214 | 12,705 |
Investment Securities: | ||
Available-for-sale Securities | 366,139 | 457,606 |
Held-to-Maturity Securities | 302,024 | 299,261 |
Federal Home Loan Bank and Federal Reserve Bank Stock | 4,851 | 6,281 |
Loans | 1,413,268 | 1,266,472 |
Allowance for Loan Losses | -15,570 | -14,434 |
Net Loans | 1,397,698 | 1,252,038 |
Premises and Equipment, Net | 28,488 | 29,154 |
Goodwill | 22,003 | 22,003 |
Other Intangible Assets, Net | 3,625 | 4,140 |
Other Assets | 46,297 | 43,235 |
Total Assets | 2,217,420 | 2,163,698 |
LIABILITIES | ||
Noninterest-Bearing Deposits | 300,786 | 278,958 |
NOW Accounts | 871,671 | 817,366 |
Savings Deposits | 524,648 | 498,779 |
Time Deposits of $100,000 or More | 61,797 | 78,928 |
Other Time Deposits | 144,046 | 168,299 |
Total Deposits | 1,902,948 | 1,842,330 |
Short-term Borrowings | 60,421 | 64,777 |
Federal Home Loan Bank Term Advances | 10,000 | 20,000 |
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts | 20,000 | 20,000 |
Other Liabilities | 23,125 | 24,437 |
Total Liabilities | 2,016,494 | 1,971,544 |
STOCKHOLDERS' EQUITY | ||
Preferred Stock | 0 | 0 |
Common Stock | 17,079 | 16,744 |
Additional Paid-in Capital | 239,721 | 229,290 |
Retained Earnings | 29,458 | 27,457 |
Unallocated ESOP Shares | -1,450 | -1,800 |
Accumulated Other Comprehensive Loss | -7,166 | -4,373 |
Treasury Stock | -76,716 | -75,164 |
Total Stockholders' Equity | 200,926 | 192,154 |
Total Liabilities and Stockholders' Equity | $2,217,420 | $2,163,698 |
Balance_Sheet_Parenthetical_Pa
Balance Sheet Parenthetical (Parentheticals) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Held-to-maturity Securities, at Fair Value | $308,566 | $302,305 |
Preferred Stock, Par Value | $5 | $5 |
Preferred Stock, Shares Authorized | 1,000,000 | 1,000,000 |
Common Stock, Par Value | $1 | $1 |
Common Stock, Shares Authorized | 20,000,000 | 20,000,000 |
Common Stock, Shares Issued | 17,079,376 | 16,744,486 |
Unallocated ESOP Shares - Shares | 71,748 | 87,641 |
Treasury Stock, Shares | 4,386,022 | 4,296,723 |
Consolidated_Income_Statement
Consolidated Income Statement (USD $) | 12 Months Ended | ||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||
INTEREST AND DIVIDEND INCOME | |||||
Interest and Fees on Loans | $53,194 | $51,319 | $54,511 | ||
Interest on Deposits at Banks | 80 | 89 | 108 | ||
Interest and Dividends on Investment Securities: | |||||
Fully Taxable | 7,954 | 6,903 | 9,269 | ||
Exempt from Federal Taxes | 5,633 | 5,827 | 5,491 | ||
Total Interest and Dividend Income | 66,861 | 64,138 | 69,379 | ||
INTEREST EXPENSE | |||||
NOW Accounts | 1,722 | 2,461 | 3,564 | ||
Savings Deposits | 839 | 1,024 | 1,287 | ||
Time Deposits of $100,000 or More | 770 | 1,198 | 2,007 | ||
Other Time Deposits | 1,354 | 1,962 | 3,730 | ||
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase | 22 | 18 | 22 | ||
Federal Home Loan Bank Advances | 490 | 680 | 729 | ||
Junior Subordinated Obligations Issued to Unconsolidated Subsidary Trusts | 570 | 579 | 618 | ||
Total Interest Expense | 5,767 | 7,922 | 11,957 | ||
NET INTEREST INCOME | 61,094 | 56,216 | 57,422 | ||
Provision for Loan Losses | 1,848 | 200 | 845 | ||
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 59,246 | 56,016 | 56,577 | ||
NONINTEREST INCOME | |||||
Income from Fiduciary Activities | 7,468 | 6,735 | 6,290 | ||
Fees for Other Services to Customers | 9,261 | 9,407 | 8,245 | ||
Insurance Commissions | 9,455 | 8,895 | 8,247 | ||
Net Gains on Securities Transactions | 110 | 540 | 865 | ||
Net Gains on Sale of Loans | 784 | 1,460 | 2,282 | ||
Other Operating Income | 1,238 | 1,024 | 1,170 | ||
Total Noninterest Income | 28,316 | 28,061 | 27,099 | ||
NONINTEREST EXPENSE | |||||
Salaries and Employee Benefits | 30,941 | 31,182 | 31,703 | ||
Occupancy Expense, Net | 8,990 | 8,285 | 7,467 | ||
FDIC Assessments | 1,117 | 1,080 | 1,026 | ||
Other Operating Expense | 12,980 | 12,656 | 11,640 | ||
Total Noninterest Expense | 54,028 | 53,203 | 51,836 | ||
INCOME BEFORE PROVISION FOR INCOME TAXES | 33,534 | 30,874 | 31,840 | ||
Provision for Income Taxes | 10,174 | 9,079 | 9,661 | ||
Net Income | $23,360 | $21,795 | $22,179 | ||
Average Shares Outstanding: | |||||
Basic Shares, in Shares | 12,604 | 12,542 | [1] | 12,492 | [1] |
Diluted Shares, in Shares | 12,633 | 12,573 | [1] | 12,502 | [1] |
Per Common Share | |||||
Basic Earnings, in Earnings Per Share | $1.85 | $1.74 | [1] | $1.78 | [1] |
Diluted Earnings, In Earnings Per Share | $1.85 | $1.73 | [1] | $1.77 | [1] |
[1] | Share and Per Share Amounts have been restated for the September 2014 2% stock dividend. |
Consolidated_Statement_of_Comp
Consolidated Statement of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Net Income | $23,360 | $21,795 | $22,179 |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | -2,961 | 3,500 | -2,246 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 168 | 589 | 479 |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | -2,793 | 4,089 | -1,767 |
Comprehensive Income (Loss), Net of Tax | 20,567 | 25,884 | 20,412 |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | |||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 232 | -2,925 | -661 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | -67 | -326 | -522 |
Accumulated Defined Benefit Plans Adjustment, Net Unamortized Gain (Loss) [Member] | |||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | -2,846 | 6,425 | -1,340 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 288 | 914 | 1,013 |
Accumulated Defined Benefit Plans Adjustment, Net Prior Service Cost (Credit) [Member] | |||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | -347 | 0 | -245 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | ($53) | $1 | ($12) |
Statement_of_Stockholders_Equi
Statement of Stockholders' Equity (USD $) | Total | Common Stock | Additional Paid in Capital | Retained Earnings | Unallocated ESOP Shares | Accumulated Other Comprehensive Income (Loss) | Treasury Stock | ||
Stockholder's Equity Beginning Balance at Dec. 31, 2011 | $166,385,000 | $16,094,000 | $207,600,000 | $23,947,000 | ($2,500,000) | ($6,695,000) | ($72,061,000) | ||
Net Income | 22,179,000 | 0 | 0 | 22,179,000 | 0 | 0 | 0 | ||
Other Comprehensive (Loss) Income | -1,767,000 | 0 | 0 | 0 | 0 | -1,767,000 | 0 | ||
Stock Dividend | 0 | 322,000 | 7,738,000 | -8,060,000 | 0 | 0 | 0 | ||
Cash Dividends Paid | [1] | -11,815,000 | 0 | 0 | 11,815,000 | 0 | 0 | 0 | |
Stock Options Exercised | 2,105,000 | 0 | 1,152,000 | 0 | 0 | 0 | 953,000 | ||
Shares Issued Under the Directors' Stock Plan | 175,000 | 0 | 104,000 | 0 | 0 | 0 | 71,000 | ||
Shares Issued Under the Employee Stock Purchase Plan | 484,000 | 0 | 279,000 | 0 | 0 | 0 | 205,000 | ||
Shares Issued for Dividend Reinvestment Plans | 1,822,000 | 0 | 1,086,000 | 0 | 0 | 0 | 736,000 | ||
Stock-Based Compensation Expense | 424,000 | 0 | 424,000 | 0 | 0 | 0 | 0 | ||
Tax Benefit for Disposition of Stock Options | 68,000 | 0 | 68,000 | 0 | 0 | 0 | 0 | ||
Purchases of Treasury Stock | -4,877,000 | 0 | 0 | 0 | 0 | 0 | -4,877,000 | ||
Shares Issued for Acquisition of Subsidiary | 233,000 | 0 | 140,000 | 0 | 0 | 0 | 93,000 | ||
Allocation of ESOP Stock | 409,000 | 0 | -59,000 | 0 | -350,000 | 0 | 0 | ||
Stockholder's Equity Ending Balance at Dec. 31, 2012 | 175,825,000 | 16,416,000 | 218,650,000 | 26,251,000 | -2,150,000 | -8,462,000 | -74,880,000 | ||
Net Income | 21,795,000 | 0 | 0 | 21,795,000 | 0 | 0 | 0 | ||
Other Comprehensive (Loss) Income | 4,089,000 | 0 | 0 | 0 | 0 | 4,089,000 | 0 | ||
Stock Dividend | 0 | 328,000 | 8,152,000 | -8,480,000 | 0 | 0 | 0 | ||
Cash Dividends Paid | [1] | -12,109,000 | 0 | 0 | 12,109,000 | 0 | 0 | 0 | |
Stock Options Exercised | 1,254,000 | 0 | 676,000 | 0 | 0 | 0 | 578,000 | ||
Shares Issued Under the Directors' Stock Plan | 198,000 | 0 | 123,000 | 0 | 0 | 0 | 75,000 | ||
Shares Issued Under the Employee Stock Purchase Plan | 477,000 | 0 | 283,000 | 0 | 0 | 0 | 194,000 | ||
Shares Issued for Dividend Reinvestment Plans | 1,280,000 | 0 | 796,000 | 0 | 0 | 0 | 484,000 | ||
Stock-Based Compensation Expense | 372,000 | 0 | 372,000 | 0 | 0 | 0 | 0 | ||
Tax Benefit for Disposition of Stock Options | 23,000 | 0 | 23,000 | 0 | 0 | 0 | 0 | ||
Purchases of Treasury Stock | -1,709,000 | 0 | 0 | 0 | 0 | 0 | -1,709,000 | ||
Shares Issued for Acquisition of Subsidiary | 233,000 | 0 | 139,000 | 0 | 0 | 0 | 94,000 | ||
Allocation of ESOP Stock | 426,000 | 0 | -76,000 | 0 | -350,000 | 0 | 0 | ||
Stockholder's Equity Ending Balance at Dec. 31, 2013 | 192,154,000 | 16,744,000 | 229,290,000 | 27,457,000 | -1,800,000 | -4,373,000 | -75,164,000 | ||
Net Income | 23,360,000 | 0 | 0 | 23,360,000 | 0 | 0 | 0 | ||
Other Comprehensive (Loss) Income | -2,793,000 | 0 | 0 | 0 | 0 | -2,793,000 | 0 | ||
Stock Dividend | 0 | 335,000 | [2] | 8,617,000 | -8,952,000 | 0 | 0 | 0 | |
Cash Dividends Paid | [1] | -12,407,000 | 0 | 0 | 12,407,000 | 0 | 0 | 0 | |
Stock Options Exercised | 1,454,000 | 0 | 852,000 | 0 | 0 | 0 | 602,000 | ||
Shares Issued Under the Directors' Stock Plan | 197,000 | 0 | 123,000 | 0 | 0 | 0 | 74,000 | ||
Shares Issued Under the Employee Stock Purchase Plan | 488,000 | 0 | 296,000 | 0 | 0 | 0 | 192,000 | ||
Stock-Based Compensation Expense | 360,000 | 0 | 360,000 | 0 | 0 | 0 | 0 | ||
Tax Benefit for Disposition of Stock Options | 25,000 | 0 | 25,000 | 0 | 0 | 0 | 0 | ||
Purchases of Treasury Stock | -2,455,000 | 0 | 0 | 0 | 0 | 0 | -2,455,000 | ||
Shares Issued for Acquisition of Subsidiary | 91,000 | 0 | 56,000 | 0 | 0 | 0 | 35,000 | ||
Allocation of ESOP Stock | 452,000 | 0 | -102,000 | 0 | -350,000 | 0 | 0 | ||
Stockholder's Equity Ending Balance at Dec. 31, 2014 | $200,926,000 | $17,079,000 | $239,721,000 | $29,458,000 | ($1,450,000) | ($7,166,000) | ($76,716,000) | ||
[1] | Cash dividends paid per share have been adjusted for the September 2014 2% stock dividend. | ||||||||
[2] | Included in the shares issued for the 2% stock dividend in 2014 were treasury shares of 86,353 and unallocated ESOP shares of 1,407. |
Stockholders_Equity_Parentheti
Stockholder's Equity Parenthetical (Parentheticals) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Cash Dividends Paid, per Share | $0.99 | $0.97 | $0.95 |
Stock Dividends - Shares | 334,890 | 328,323 | 321,886 |
Stock Options Exercised - Shares | 61,364 | 58,719 | 96,471 |
Shares Issued Under Directors Stock Plan - Shares | 7,584 | 7,643 | 7,226 |
Shares Issued Under the Employee Stock Purchase Plan - Shares | 19,575 | 19,679 | 20,687 |
Shares Issued for Dividend Reinvestment Plans - Shares | 0 | 49,574 | 74,260 |
Purchase of Treasury Stock - Shares | 95,064 | 68,361 | 199,323 |
Acquisition of Subsidiary - Shares | 3,595 | 9,503 | 9,356 |
Allocation of ESOP Stock - Shares | 17,300 | 16,969 | 16,629 |
Consolidated_Statement_of_Cash
Consolidated Statement of Cash Flows (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Cash Flows from Operating Activities: | ||||||
Net Income | $23,360 | $21,795 | $22,179 | |||
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: | ||||||
Provision for Loan Losses | 1,848 | 200 | 845 | |||
Depreciation and Amortization | 7,042 | 8,870 | 8,856 | |||
Allocation of ESOP Stock | 452 | 426 | 409 | |||
Gains on the Sale of Securities Available-for-Sale | -137 | -527 | -949 | |||
Held-to-maturity Securities, Sold Security, Realized Gain (Loss) | 0 | -18 | 0 | |||
Losses on the Sale of Securities Available-for-Sale | 27 | 0 | 84 | |||
Held-to-Maturity Securities, Sold, Realized Loss | 0 | 5 | 0 | |||
Loans Originated and Held-for-Sale | -23,156 | -46,101 | -60,668 | |||
Proceeds from the Sale of Loans Held-for-Sale | 23,606 | 50,298 | 61,041 | |||
Net Gains on the Sale of Loans | -784 | -1,460 | -2,282 | |||
Net Loss (Gains) on the Sale of Premises and Equipment, Other Real Estate Owned and Repossessed Assets | 77 | 120 | -71 | |||
Contributions to Pension Plans | -921 | -473 | -328 | |||
Deferred Income Tax Expense (Benefit) Expense | -299 | 294 | -353 | |||
Stock-Based Compensation Expense | 197 | 198 | 175 | |||
Stock-Based Compensation Expense | 360 | 372 | 424 | |||
Net Decrease in Other Assets | -806 | 1,888 | 2,108 | |||
Net Increase (Decrease) in Other Liabilities | -225 | 786 | 990 | |||
Net Cash Provided By Operating Activities | 30,641 | 36,673 | 32,460 | |||
Cash Flows from Investing Activities: | ||||||
Proceeds from the Sale of Securities Available-for-Sale | 49,928 | 16,295 | 58,718 | |||
Proceeds from the Maturities and Calls of Securities Available-for-Sale | 153,127 | 132,228 | 210,224 | |||
Purchases of Securities Available-for-Sale | -113,953 | -136,416 | -197,029 | |||
Proceeds from Sale and Maturity of Held-to-maturity Securities | 0 | 1,181 | 0 | |||
Proceeds from the Maturities and Calls of Securities Held-to-Maturity | 56,714 | 47,228 | 49,983 | |||
Purchases of Securities Held-to-Maturity | -60,906 | -109,620 | -140,635 | |||
Net (Increase) Decrease in Loans | -148,482 | -98,903 | -40,951 | |||
Proceeds from the Sales of Premises and Equipment, Other Real Estate Owned and Repossessed Assets | 1,237 | 1,789 | 1,263 | |||
Purchases of Premises and Equipment | -1,468 | -2,233 | -8,073 | |||
Cash Paid for Subsidiaries | -75 | -75 | -75 | |||
Net Decrease (Increase) in Other Investments | 1,430 | -489 | 930 | |||
Purchase of Bank Owned Life Insurance | -5,245 | 0 | 0 | |||
Net Cash Used In Investing Activities | -67,693 | -149,015 | -65,645 | |||
Cash Flows from Financing Activities: | ||||||
Net Increase in Deposits | 60,618 | 111,175 | 87,109 | |||
Net (Decrease) Increase in Short-Term Borrowings | -4,356 | 23,099 | -26,615 | |||
Federal Home Loan Bank Repayments | -10,000 | -10,000 | -10,000 | |||
Purchases of Treasury Stock | -2,455 | -1,709 | -4,877 | |||
Stock Options Exercised | 1,454 | 1,254 | 2,105 | |||
Shares Issued Under the Employee Stock Purchase Plan | 488 | 477 | 484 | |||
Tax Benefit from Exercise of Stock Options | 25 | 23 | 68 | |||
Shares Issued for Dividend Reinvestment Plans | 0 | 1,280 | 1,822 | |||
Cash Dividends Paid | -12,407 | [1] | -12,109 | [1] | -11,815 | [1] |
Net Cash Provided By Financing Activities | 33,367 | 113,490 | 38,281 | |||
Net Increase (Decrease) in Cash and Cash Equivalents | -3,685 | 1,148 | 5,096 | |||
Cash and Cash Equivalents at Beginning of Year | 49,980 | 48,832 | 43,736 | |||
Cash and Cash Equivalents at End of Year | 46,295 | 49,980 | 48,832 | |||
Supplemental Disclosures to Statements of Cash Flow Information: | ||||||
Interest on Deposits and Borrowings | 5,932 | 8,067 | 12,520 | |||
Income Taxes | 10,060 | 8,336 | 8,866 | |||
Non-cash Investing and Financing Activities: | ||||||
Transfer of Loans to Other Real Estate Owned and Repossessed Assets | 1,308 | 971 | 1,426 | |||
Shares Issued for Acquisition of Subsidiary | $91 | $233 | $233 | |||
[1] | Cash dividends paid per share have been adjusted for the September 2014 2% stock dividend. |
Risks_and_Uncertainties
Risks and Uncertainties | 12 Months Ended |
Dec. 31, 2014 | |
Risks and Uncertainties [Abstract] | |
Concentration Risk Disclosure [Text Block] | RISKS AND UNCERTAINTIES |
Nature of Operations - Arrow Financial Corporation, a New York corporation, was incorporated on March 21, 1983 and is registered as a bank holding company within the meaning of the Bank Holding Company Act of 1956. Arrow derives most of its earnings from the ownership of two nationally chartered commercial banks and through the ownership of four insurance agencies. The two banks provide a full range of services to individuals and small to mid-size businesses in northeastern New York State from just north of Albany, the State's capitol, to the Canadian border. Both banks have trust departments which provide investment management and administrative services. The insurance agencies specialize in property and casualty insurance, group health insurance, sports accident and health insurance, and individual life insurance. | |
Management’s Use of Estimates - The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of income and expenses during the reporting period. Our most significant estimates are the allowance for loan losses, the evaluation of other-than-temporary impairment of investment securities, goodwill impairment, pension and other postretirement liabilities, analysis of a need for a valuation allowance for deferred tax assets and other fair value calculations. Actual results could differ from those estimates. | |
A material estimate that is particularly susceptible to significant change in the near term is the allowance for loan losses. The allowance for loan losses is management’s best estimate of probable loan losses incurred as of the balance sheet date. While management uses available information to recognize losses on loans, future adjustments to the allowance for loan losses may be necessary based on changes in economic conditions. | |
Concentrations of Credit - Virtually all of Arrow's loans are with customers in upstate New York. Although the loan portfolios of the subsidiary banks are well diversified, tourism has a substantial impact on the northeastern New York economy. The commitments to extend credit are fairly consistent with the distribution of loans presented in Note 5, generally have the same credit risk and are subject to normal credit policies. Generally, the loans are secured by assets and are expected to be repaid from cash flow or the sale of selected assets of the borrowers. Arrow evaluates each customer's creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by Arrow upon extension of credit, is based upon management's credit evaluation of the counterparty. The nature of the collateral varies with the type of loan and may include: residential real estate, cash and securities, inventory, accounts receivable, property, plant and equipment, income producing commercial properties and automobiles. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | |
Dec. 31, 2014 | ||
Accounting Policies [Abstract] | ||
Significant Accounting Policies [Text Block] | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Principles of Consolidation - The financial statements of Arrow and its wholly owned subsidiaries are consolidated and all material inter-company transactions have been eliminated. In the “Parent Company Only” financial statements in Note 20, the investment in wholly owned subsidiaries is carried under the equity method of accounting. When necessary, prior years’ consolidated financial statements have been reclassified to conform to the current-year financial statement presentation. | ||
The Company determines whether it has a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a variable interest entity under GAAP. Voting interest entities are entities in which the total equity investment at risk is sufficient to enable the entity to finance itself independently and provides the equity holders with the obligation to absorb losses, the right to receive residual returns and the right to make decisions about the entity’s activities. The Company consolidates voting interest entities in which it has all, or at least a majority of, the voting interest. As defined in applicable accounting standards, variable interest entities (VIE) are entities that lack one or more of the characteristics of a voting interest entity. A controlling financial interest in a VIE is present when the Company has both the power and ability to direct the activities of the VIE that most significantly impact the VIE's economic performance and an obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The Company’s wholly owned subsidiaries Arrow Capital Statutory Trust II and Arrow Capital Statutory Trust III are VIEs for which the Company is not the primary beneficiary. Accordingly, the accounts of these entities are not included in the Company’s consolidated financial statements. | ||
Segment Reporting - Arrow operations are primarily in the community banking industry, which constitutes Arrow’s only segment for financial reporting purposes. Arrow provides other services, such as trust administration, retirement plan administration, advice to our proprietary mutual funds and insurance products, but these services do not rise to the quantitative thresholds for separate disclosure. Arrow operates primarily in the northeastern region of New York State in Warren, Washington, Saratoga, Essex, Clinton and Albany counties and surrounding areas. | ||
Cash and Cash Equivalents - Cash and cash equivalents include the following items: cash at branches, due from bank balances, cash items in the process of collection, interest-bearing bank balances and federal funds sold. | ||
Securities - Management determines the appropriate classification of securities at the time of purchase. Securities reported as held-to-maturity are those debt securities which Arrow has both the positive intent and ability to hold to maturity and are stated at amortized cost. Securities available-for-sale are reported at fair value, with unrealized gains and losses reported in accumulated other comprehensive income or loss, net of taxes. Realized gains and losses are based upon the amortized cost of the specific security sold. A decline in the fair value of any available-for-sale or held-to-maturity security below cost that is deemed to be other-than-temporary results in an impairment to reduce the carrying amount to fair value. To determine whether an impairment is other-than-temporary, we consider all available information relevant to the collectibility of the security, including past events, current conditions, and reasonable and supportable forecasts when developing an estimate of cash flows expected to be collected. Evidence considered in this assessment includes the reasons for impairment, the severity and duration of the impairment, changes in value subsequent to year-end, forecasted performance of the investee, and the general market condition in the geographic area or industry the investee operates in. When an other-than-temporary impairment has occurred on a debt security, the amount of the other-than-temporary impairment recognized in earnings depends on whether we intend to sell the debt security or more likely than not will be required to sell the debt security before recovery of its amortized cost basis less any current-period credit loss. If we intend to sell the debt security or it is more likely than not that we will be required to sell the debt security before recovery of its amortized cost basis less any current-period credit loss, the other-than-temporary impairment is recognized in earnings equal to the entire difference between the investment’s amortized cost basis and its fair value at the balance sheet date. If we do not intend to sell the debt security and it is not more likely than not that we will be required to sell the debt security before recovery of its amortized cost basis, the other-than-temporary impairment is separated into the amount representing the credit loss and the amount related to all other factors. The amount of the total other-than-temporary impairment related to the credit loss is recognized in earnings. The amount of the total other-than-temporary impairment related to other factors is recognized in other comprehensive income, net of applicable income taxes. | ||
Loans and Allowance for Loan Losses - Interest income on loans is accrued and credited to income based upon the principal amount outstanding. Loan fees and costs directly associated with loan originations are deferred and amortized/accreted as an adjustment to yield over the lives of the loans originated. | ||
From time-to-time, Arrow has sold (most with servicing retained) residential real estate loans at or shortly after origination. Any gain or loss on the sale of loans, along with the value of the servicing right, is recognized at the time of sale as the difference between the recorded basis in the loan and net proceeds from the sale. Loans held for sale are recorded at the lower of cost or fair value on an aggregate basis. | ||
Loans are placed on nonaccrual status either due to the delinquency status of principal and/or interest or a judgment by management that the full repayment of principal and interest is unlikely. Unless already placed on nonaccrual status, loans secured by home equity lines of credit are put on nonaccrual status when 120 days past due; residential real estate loans when 150 days past due; commercial and commercial real estate loans are evaluated on a loan-by-loan basis and are placed on nonaccrual status when 90 days past due if the full collection of principal and interest is uncertain. The balance of any accrued interest deemed uncollectible at the date the loan is placed on nonaccrual status is reversed, generally against interest income. A loan is returned to accrual status at the later of the date when the past due status of the loan falls below the threshold for nonaccrual status or management deems that it is likely that the borrower will repay all interest and principal. For payments received while the loan is on nonaccrual status, we may recognize interest income on a cash basis if the repayment of the remaining principal and accrued interest is deemed likely. | ||
The allowance for loan losses is maintained by charges to operations based upon our best estimate of the probable amount of loans that we will be unable to collect based on current information and events. Provisions to the allowance for loan losses are offset by actual loan charge-offs (net of any recoveries). We evaluate the loan portfolio for potential charge-offs on a monthly basis. In general, automobile and other consumer loans are charged-off when 120 days delinquent. Residential real estate loans are charged-off when a loss becomes known or based on a new appraisal at the earlier of 180 days past due or repossession. Commercial and commercial real estate loans loans are evaluated early in their delinquency status and are charged-off when management concludes that not all principal will be repaid from on-going cash flows or liquidation of collateral. An evaluation of estimated proceeds from the liquidation of the loan’s collateral is compared to the loan carrying amount and a charge to the allowance for loan losses is taken for any deficiency. While management uses available information to recognize losses on loans, future additions to the allowance may be necessary based on changes in economic conditions in Arrow's market area. In addition, various Federal regulatory agencies, as an integral part of their examination process, review Arrow's allowance for loan losses. Such agencies may require Arrow to recognize additions to the allowance in future periods, based on their judgments about information available to them at the time of their examination, which may not be currently available to management. | ||
We consider nonaccrual loans over $250 thousand and all troubled debt restructured loans to be impaired loans and we evaluate these loans individually to determine the amount of impairment, if any. The amount of impairment, if any, related to individual impaired loans is measured based on either the present value of expected future cash flows discounted at the loan's effective interest rate, the loan's observable market price or the fair value of the collateral if the loan is collateral dependent. Arrow determines impairment for collateral dependent loans based on the fair value of the collateral less estimated costs to sell. Any excess of the recorded investment in the collateral dependent impaired loan over the estimated collateral value, less costs to sell, is typically charged off. For impaired loans which are not collateral dependent, impairment is measured by comparing the recorded investment in the loan to the present value of the expected cash flows, discounted at the loan’s effective interest rate. If this amount is less than the recorded investment in the loan, an impairment reserve is recognized as part of the allowance for loan losses, or based upon the judgment of management all or a portion of the excess of the recorded investment in the loan over the present value of the estimated future cash flow may be charged off. | ||
The allowance for loan losses on the remaining loans is primarily determined based upon consideration of the historical net loss experience of the respective portfolios that have occurred within each pool of loans over the loss emergence period (LEP), adjusted as necessary based upon consideration of qualitative considerations impacting the inherent risk of loss in the respective loan portfolios. The LEP is an estimate of the average amount of time from the point at which a loss is incurred on a loan to the point at which the loss is recognized in the financial statements. Since the LEP may change under various economic environments, we update the LEP calculation on a semiannual basis. | ||
In management’s opinion, the balance of the allowance for loan losses, at each balance sheet date, is sufficient to provide for probable loan losses inherent in the corresponding loan portfolio. | ||
Other Real Estate Owned and Repossessed Assets - Real estate acquired by foreclosure and assets acquired by repossession are recorded at the fair value of the property less estimated costs to sell at the time of repossession. Subsequent declines in fair value, after transfer to other real estate owned and repossessed assets are recognized through a valuation allowance. Such declines in fair value along with related operating expenses to administer such properties or assets are charged directly to operating expense. | ||
Premises and Equipment - Premises and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation and amortization included in operating expenses are computed largely on the straight-line method. Depreciation is based on the estimated useful lives of the assets (buildings and improvements 20-40 years; furniture and equipment 7-10 years; data processing equipment 5-7 years) and, in the case of leasehold improvements, amortization is computed over the terms of the respective leases or their estimated useful lives, whichever is shorter. Gains or losses on disposition are reflected in earnings. | ||
Income Taxes - Arrow accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income tax expense in the period that includes the enactment date. Arrow’s policy is that deferred tax assets are reduced by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. | ||
Goodwill and Other Intangible Assets - Identifiable intangible assets acquired in a business combination are capitalized and amortized. Any remaining unidentifiable intangible asset is classified as goodwill, for which amortization is not required but which must be evaluated for impairment. Arrow tests for impairment of goodwill on an annual basis, or when events and circumstances indicate potential impairment. In evaluating goodwill for impairment, Arrow first assesses certain qualitative factors to determine if it is more likely than not that the fair value of the reporting unit is less than its carrying value. If it is more likely than not that the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired. If the carrying amount of a reporting unit exceeds its fair value, the second step of the goodwill impairment test is performed to measure the amount of impairment loss, if any. | ||
The carrying amounts of other recognized intangible assets that meet recognition criteria and for which separate accounting records have been maintained (core deposit intangibles and mortgage servicing rights), have been included in the consolidated balance sheet as “Other Intangible Assets, Net.” Core deposit intangibles are being amortized on a straight-line basis over a period of ten to fifteen years. | ||
Arrow has sold residential real estate loans, primarily to Freddie Mac, with servicing retained. Mortgage servicing rights are recognized as an asset when loans are sold with servicing retained, by allocating the cost of an originated mortgage loan between the loan and servicing right based on estimated relative fair values. The cost allocated to the servicing right is capitalized as a separate asset and amortized in proportion to, and over the period of, estimated net servicing income. Capitalized mortgage servicing rights are evaluated for impairment by comparing the asset’s carrying value to its current estimated fair value. Fair values are estimated using a discounted cash flow approach, which considers future servicing income and costs, current market interest rates, and anticipated prepayment, and default rates. Impairment losses are recognized through a valuation allowance for servicing rights having a current fair value that is less than amortized cost on an aggregate basis. Adjustments to increase or decrease the valuation allowance are charged or credited to income as a component of other operating income. | ||
Pension and Postretirement Benefits - Arrow maintains a non-contributory, defined benefit pension plan covering substantially all employees, a supplemental pension plan covering certain executive officers selected by the Board of Directors, and certain post-retirement medical, dental and life insurance benefits for employees and retirees. The costs of these plans, based on actuarial computations of current and future benefits for employees, are charged to current operating expenses. The cost of post-retirement benefits other than pensions is recognized on an accrual basis as employees perform services to earn the benefits. Arrow recognizes the overfunded or underfunded status of our single employer defined benefit pension plan as an asset or liability on its consolidated balance sheet and recognizes changes in the funded status in comprehensive income in the year in which the change occurred. | ||
Prior service costs or credits are amortized on a straight-line basis over the average remaining service period of active participants. Gains and losses in excess of 10% of the greater of the benefit obligation or the fair value of assets are amortized over the average remaining service period of active participants. | ||
The discount rate assumption is determined by preparing an analysis of the respective plan’s expected future cash flows and high-quality fixed-income investments currently available and expected to be available during the period to maturity of the pension benefits. | ||
Stock-Based Compensation Plans - Arrow has two stock option plans, which are described more fully in Note 12. The Company expenses the grant date fair value of options granted. The expense is recognized over the vesting period of the grant, typically four years, on a straight-line basis. Shares are generally issued from treasury for the exercise of stock options. | ||
Arrow sponsors an Employee Stock Purchase Plan ("ESPP") under which employees may purchase Arrow’s common stock at a 5% discount below market price at the time of purchase. This stock purchase plan is not considered a compensatory plan. | ||
Arrow sponsors an Employee Stock Ownership Plan ("ESOP"), a qualified defined contribution plan. The ESOP has borrowed funds from one of Arrow’s subsidiary banks to purchase Arrow common stock. The shares pledged as collateral are reported as a reduction of Arrow’s stockholders’ equity. Compensation expense is recognized as shares are released for allocation to individual employee accounts equal to the current average market price. | ||
Securities Sold Under Agreements to Repurchase - In securities repurchase agreements, Arrow receives cash from a counterparty in exchange for the transfer of securities to a third party custodian’s account that explicitly recognizes Arrow’s interest in the securities. These agreements are accounted for by Arrow as secured financing transactions, since it maintains effective control over the transferred securities, and meets other criteria for such accounting. Accordingly, the cash proceeds are recorded as borrowed funds, and the underlying securities continue to be carried in Arrow’s securities available-for-sale portfolio. | ||
Earnings Per Share (“EPS”) - Basic EPS excludes dilution and is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity (such as Arrow’s stock options), computed using the treasury stock method. Unallocated common shares held by Arrow’s Employee Stock Ownership Plan are not included in the weighted average number of common shares outstanding for either the basic or diluted EPS calculation. | ||
Financial Instruments - Arrow is a party to certain financial instruments with off-balance sheet risk, such as: commercial lines of credit, construction lines of credit, overdraft protection, home equity lines of credit and standby letters of credit. Arrow's policy is to record such instruments when funded. Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time Arrow's entire holdings of a particular financial instrument. Because no market exists for a significant portion of Arrow's financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. | ||
Fair value estimates are based on existing on- and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. For example, Arrow has a trust department that contributes net fee income annually. The value of trust department customer relationships is not considered a financial instrument of the Company, and therefore this value has not been incorporated into the fair value estimates. Other significant assets and liabilities that are not considered financial assets or liabilities include deferred taxes, premises and equipment, the value of low-cost, long-term core deposits and goodwill. In addition, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in any of the estimates. | ||
The carrying amount of the following short-term assets and liabilities is a reasonable estimate of fair value: cash and due from banks, federal funds sold and purchased, securities sold under agreements to repurchase, demand deposits, savings, N.O.W. and money market deposits, other short-term borrowings, accrued interest receivable and accrued interest payable. The fair value estimates of other on- and off-balance sheet financial instruments, as well as the method of arriving at fair value estimates, are included in the related footnotes and summarized in Note 17. | ||
Fair Value Measures - We determine the fair value of financial instruments under the following hierarchy: | ||
• | Level 1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; | |
• | Level 2 – Quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; | |
• | Level 3 – Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). | |
A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. | ||
Management’s Use of Estimates -The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of income and expenses during the reporting period. Our most significant estimates are the allowance for loan losses, the evaluation of other-than-temporary impairment of investment securities, goodwill impairment, pension and other postretirement liabilities, analysis of a need for a valuation allowance for deferred tax assets and other fair value calculations. Actual results could differ from those estimates. | ||
A material estimate that is particularly susceptible to significant change in the near term is the allowance for loan losses. In connection with the determination of the allowance for loan losses, management obtains appraisals for properties. The allowance for loan losses is management’s best estimate of probable loan losses incurred as of the balance sheet date. While management uses available information to recognize losses on loans, future adjustments to the allowance for loan losses may be necessary based on changes in economic conditions. | ||
Recent Accounting Pronouncements | ||
During 2014 the FASB issued eighteen accounting standards updates and, through the date of this report, one additional update in 2015. For those updates that apply to Arrow, the following paragraphs provide a brief description, the effective date and the estimated impact on our financial condition or results of operations. | ||
ASU 2014-01 "Investments-Equity Method and Joint Ventures" allows an entity that invests in affordable housing projects that qualify for low-income housing tax credits to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense. The standard is effective for annual years beginning after December 15, 2014, with earlier adoption allowed. We are evaluating the impact of adopting this election and do not expect that this will have a material impact on our financial condition or results of operations. | ||
ASU 2014-04 "Receivables - Trouble Debt Restructurings by Creditors" provides additional guidance on when an in substance repossession or foreclosure occurs and is effective for annual periods beginning after December 15, 2014. We are evaluating the impact of adopting this standard, and we do not expect that it will have a material impact on our financial condition or results of operations. | ||
ASU 2014-14 "Receivables - Trouble Debt Restructurings by Creditors - Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure" requires an entity to report a separate other receivable for the amount of the expected guarantee upon foreclosure. For Arrow, the standard is effective for the first quarter of 2015. The adoption will not have a material impact on our financial condition or results of operations. | ||
ASU 2015-01 "Income Statement - Extraordinary and Unusual Items" eliminates the concept of extraordinary items. |
Cash_and_Cash_Equivalents
Cash and Cash Equivalents | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Cash and Cash Equivalents [Abstract] | ||||||||
Cash and Cash Equivalents Disclosure [Text Block] | CASH AND CASH EQUIVALENTS (Dollars In Thousands) | |||||||
The following table is the schedule of cash and cash equivalents at December 31, 2014 and 2013: | ||||||||
2014 | 2013 | |||||||
Cash and Due From Banks | $ | 35,081 | $ | 37,275 | ||||
Interest-Bearing Deposits at Banks | 11,214 | 12,705 | ||||||
Total Cash and Cash Equivalents | $ | 46,295 | $ | 49,980 | ||||
Supplemental Information: | ||||||||
Total required reserves, including vault cash and Federal Reserve Bank deposits | $ | 19,989 | $ | 18,879 | ||||
The Company is required to maintain reserve balances with the Federal Reserve Bank of New York. The required reserve is calculated on a fourteen day average and the amounts presented in the table above represent the average for the period that includes December 31. |
Investment_Securities
Investment Securities | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | |||||||||||||||||||||||||
INVESTMENT SECURITIES (Dollars In Thousands) | |||||||||||||||||||||||||
The following table is the schedule of Available-For-Sale Securities at December 31, 2014 and 2013: | |||||||||||||||||||||||||
Available-For-Sale Securities | |||||||||||||||||||||||||
U.S. Agency | State and | Mortgage- | Corporate | Mutual Funds | Total | ||||||||||||||||||||
Obligations | Municipal | Backed | and Other | and Equity | Available- | ||||||||||||||||||||
Obligations | Securities - | Debt | Securities | For-Sale | |||||||||||||||||||||
Residential | Securities | Securities | |||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Available-For-Sale Securities, | $ | 137,540 | $ | 81,582 | $ | 124,732 | $ | 16,988 | $ | 1,120 | $ | 361,962 | |||||||||||||
at Amortized Cost | |||||||||||||||||||||||||
Available-For-Sale Securities, | 137,603 | 81,730 | 128,827 | 16,725 | 1,254 | 366,139 | |||||||||||||||||||
at Fair Value | |||||||||||||||||||||||||
Gross Unrealized Gains | 208 | 187 | 4,100 | 7 | 134 | 4,636 | |||||||||||||||||||
Gross Unrealized Losses | 145 | 39 | 5 | 270 | — | 459 | |||||||||||||||||||
Available-For-Sale Securities, | 267,384 | ||||||||||||||||||||||||
Pledged as Collateral | |||||||||||||||||||||||||
Available-For-Sale Securities | |||||||||||||||||||||||||
U.S. Agency | State and | Mortgage- | Corporate | Mutual Funds | Total | ||||||||||||||||||||
Obligations | Municipal | Backed | and Other | and Equity | Available- | ||||||||||||||||||||
Obligations | Securities - | Debt | Securities | For-Sale | |||||||||||||||||||||
Residential | Securities | Securities | |||||||||||||||||||||||
Maturities of Debt Securities, | |||||||||||||||||||||||||
at Amortized Cost: | |||||||||||||||||||||||||
Within One Year | — | 28,273 | 2,878 | 2,303 | 33,454 | ||||||||||||||||||||
From 1 - 5 Years | 137,540 | 51,384 | 100,428 | 13,685 | 303,037 | ||||||||||||||||||||
From 5 - 10 Years | — | 1,285 | 21,426 | — | 22,711 | ||||||||||||||||||||
Over 10 Years | — | 640 | — | 1,000 | 1,640 | ||||||||||||||||||||
Maturities of Debt Securities, | |||||||||||||||||||||||||
at Fair Value: | |||||||||||||||||||||||||
Within One Year | — | 28,329 | 2,888 | 2,307 | 33,524 | ||||||||||||||||||||
From 1 - 5 Years | 137,603 | 51,476 | 103,786 | 13,618 | 306,483 | ||||||||||||||||||||
From 5 - 10 Years | — | 1,285 | 22,153 | — | 23,438 | ||||||||||||||||||||
Over 10 Years | — | 640 | — | 800 | 1,440 | ||||||||||||||||||||
Securities in a Continuous | |||||||||||||||||||||||||
Loss Position, at Fair Value: | |||||||||||||||||||||||||
Less than 12 Months | $ | 39,631 | $ | 3,309 | $ | 82 | $ | — | $ | — | $ | 43,022 | |||||||||||||
12 Months or Longer | 28,020 | 14,035 | 1,546 | 10,738 | — | 54,339 | |||||||||||||||||||
Total | $ | 67,651 | $ | 17,344 | $ | 1,628 | $ | 10,738 | $ | — | $ | 97,361 | |||||||||||||
Number of Securities in a | 22 | 65 | 3 | 15 | — | 105 | |||||||||||||||||||
Continuous Loss Position | |||||||||||||||||||||||||
Unrealized Losses on | |||||||||||||||||||||||||
Securities in a Continuous | |||||||||||||||||||||||||
Loss Position: | |||||||||||||||||||||||||
Less than 12 Months | $ | 48 | $ | — | $ | — | $ | — | $ | — | $ | 48 | |||||||||||||
12 Months or Longer | 97 | 39 | 5 | 270 | — | 411 | |||||||||||||||||||
Total | $ | 145 | $ | 39 | $ | 5 | $ | 270 | $ | — | $ | 459 | |||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Available-For-Sale Securities, | $ | 136,868 | $ | 127,224 | $ | 171,321 | $ | 17,142 | $ | 1,120 | $ | 453,675 | |||||||||||||
at Amortized Cost | |||||||||||||||||||||||||
Available-For-Sale Securities, | 136,475 | 127,389 | 175,778 | 16,798 | 1,166 | 457,606 | |||||||||||||||||||
at Fair Value | |||||||||||||||||||||||||
Gross Unrealized Gains | 2 | 306 | 4,714 | 10 | 46 | 5,078 | |||||||||||||||||||
Gross Unrealized Losses | 395 | 141 | 257 | 354 | — | 1,147 | |||||||||||||||||||
Available-For-Sale Securities, | 243,769 | ||||||||||||||||||||||||
Pledged as Collateral | |||||||||||||||||||||||||
Securities in a Continuous | |||||||||||||||||||||||||
Loss Position, at Fair Value: | |||||||||||||||||||||||||
Less than 12 Months | $ | 60,664 | $ | 29,967 | $ | 15,190 | $ | 7,375 | $ | — | $ | 113,196 | |||||||||||||
12 Months or Longer | 33,849 | 4,597 | 11,841 | 6,063 | — | 56,350 | |||||||||||||||||||
Total | $ | 94,513 | $ | 34,564 | $ | 27,031 | $ | 13,438 | $ | — | $ | 169,546 | |||||||||||||
Number of Securities in a | 26 | 107 | 13 | 19 | — | 165 | |||||||||||||||||||
Continuous Loss Position | |||||||||||||||||||||||||
Unrealized Losses on | |||||||||||||||||||||||||
Securities in a Continuous | |||||||||||||||||||||||||
Loss Position: | |||||||||||||||||||||||||
Less than 12 Months | $ | 336 | $ | 120 | $ | 108 | $ | 92 | $ | — | $ | 656 | |||||||||||||
12 Months or Longer | 59 | 21 | 149 | 262 | — | 491 | |||||||||||||||||||
Total | $ | 395 | $ | 141 | $ | 257 | $ | 354 | $ | — | $ | 1,147 | |||||||||||||
The following table is the schedule of Held-To-Maturity Securities at December 31, 2014 and 2013: | |||||||||||||||||||||||||
Held-To-Maturity Securities | |||||||||||||||||||||||||
State and | Mortgage- | Corporate | Total | ||||||||||||||||||||||
Municipal | Backed | and Other | Held-To | ||||||||||||||||||||||
Obligations | Securities - | Debt | Maturity | ||||||||||||||||||||||
Residential | Securities | Securities | |||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Held-To-Maturity Securities, | $ | 188,472 | $ | 112,552 | $ | 1,000 | $ | 302,024 | |||||||||||||||||
at Amortized Cost | |||||||||||||||||||||||||
Held-To-Maturity Securities, | 193,252 | 114,314 | 1,000 | 308,566 | |||||||||||||||||||||
at Fair Value | |||||||||||||||||||||||||
Gross Unrealized Gains | 4,935 | 1,770 | — | 6,705 | |||||||||||||||||||||
Gross Unrealized Losses | 155 | 8 | — | 163 | |||||||||||||||||||||
Held-To-Maturity Securities, | 282,640 | ||||||||||||||||||||||||
Pledged as Collateral | |||||||||||||||||||||||||
Maturities of Debt Securities, | |||||||||||||||||||||||||
at Amortized Cost: | |||||||||||||||||||||||||
Within One Year | 34,163 | — | — | 34,163 | |||||||||||||||||||||
From 1 - 5 Years | 88,866 | 36,649 | — | 125,515 | |||||||||||||||||||||
From 5 - 10 Years | 63,394 | 75,903 | — | 139,297 | |||||||||||||||||||||
Over 10 Years | 2,049 | — | 1,000 | 3,049 | |||||||||||||||||||||
Maturities of Debt Securities, | |||||||||||||||||||||||||
at Fair Value: | |||||||||||||||||||||||||
Within One Year | 34,236 | — | — | 34,236 | |||||||||||||||||||||
From 1 - 5 Years | 91,148 | 37,133 | — | 128,281 | |||||||||||||||||||||
From 5 - 10 Years | 65,728 | 77,181 | — | 142,909 | |||||||||||||||||||||
Over 10 Years | 2,140 | — | 1,000 | 3,140 | |||||||||||||||||||||
Securities in a Continuous | |||||||||||||||||||||||||
Loss Position, at Fair Value: | |||||||||||||||||||||||||
Less than 12 Months | $ | 2,143 | $ | 4,581 | $ | — | $ | 6,724 | |||||||||||||||||
12 Months or Longer | 16,033 | — | — | 16,033 | |||||||||||||||||||||
Total | $ | 18,176 | $ | 4,581 | $ | — | $ | 22,757 | |||||||||||||||||
Number of Securities in a | 74 | 1 | — | 75 | |||||||||||||||||||||
Continuous Loss Position | |||||||||||||||||||||||||
Unrealized Losses on | |||||||||||||||||||||||||
Securities in a Continuous | |||||||||||||||||||||||||
Loss Position: | |||||||||||||||||||||||||
Less than 12 Months | $ | 17 | $ | 8 | $ | — | $ | 25 | |||||||||||||||||
12 Months or Longer | 138 | — | — | 138 | |||||||||||||||||||||
Total | $ | 155 | $ | 8 | $ | — | $ | 163 | |||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Held-To-Maturity Securities, | $ | 198,206 | $ | 100,055 | $ | 1,000 | $ | 299,261 | |||||||||||||||||
at Amortized Cost | |||||||||||||||||||||||||
Held-To-Maturity Securities, | 202,390 | 98,915 | 1,000 | 302,305 | |||||||||||||||||||||
at Fair Value | |||||||||||||||||||||||||
Gross Unrealized Gains | 4,762 | 24 | — | 4,786 | |||||||||||||||||||||
Gross Unrealized Losses | 578 | 1,164 | — | 1,742 | |||||||||||||||||||||
Held-To-Maturity Securities, | 298,261 | ||||||||||||||||||||||||
Pledged as Collateral | |||||||||||||||||||||||||
Held-To-Maturity Securities | |||||||||||||||||||||||||
State and | Mortgage- | Corporate | Total | ||||||||||||||||||||||
Municipal | Backed | and Other | Held-To | ||||||||||||||||||||||
Obligations | Securities - | Debt | Maturity | ||||||||||||||||||||||
Residential | Securities | Securities | |||||||||||||||||||||||
Securities in a Continuous | |||||||||||||||||||||||||
Loss Position, at Fair Value: | |||||||||||||||||||||||||
Less than 12 Months | $ | 23,633 | $ | 85,339 | $ | — | $ | 108,972 | |||||||||||||||||
12 Months or Longer | 5,111 | — | — | 5,111 | |||||||||||||||||||||
Total | $ | 28,744 | $ | 85,339 | $ | — | $ | 114,083 | |||||||||||||||||
Number of Securities in a | 101 | 36 | — | 137 | |||||||||||||||||||||
Continuous Loss Position | |||||||||||||||||||||||||
Unrealized Losses on | |||||||||||||||||||||||||
Securities in a Continuous | |||||||||||||||||||||||||
Loss Position: | |||||||||||||||||||||||||
Less than 12 Months | $ | 519 | $ | 1,164 | $ | — | $ | 1,683 | |||||||||||||||||
12 Months or Longer | 59 | — | — | 59 | |||||||||||||||||||||
Total | $ | 578 | $ | 1,164 | $ | — | $ | 1,742 | |||||||||||||||||
In the tables above, maturities of mortgage-backed-securities - residential are included based on their expected average lives. Actual maturities will differ from the table below because issuers may have the right to call or prepay obligations with or without prepayment penalties. | |||||||||||||||||||||||||
In the available-for-sale category at December 31, 2014, U.S. agency obligations consisted solely of U.S. Government Agency securities with an amortized cost of $137.5 million and a fair value of $137.6 million. Mortgage-backed securities-residential consisted of U.S. Government Agency securities with an amortized cost of $23.0 million and a fair value of $23.6 million and GSE securities with an amortized cost of $101.7 million and a fair value of $105.2 million. In the held-to-maturity category at December 31, 2014, mortgage-backed securities-residential consisted of U.S. Government Agency securities with an amortized cost of $4.4 million and a fair value of $4.5 million and GSE securities with an amortized cost of $108.1 million and a fair value of $109.8 million. | |||||||||||||||||||||||||
In the available-for-sale category at December 31, 2013, U.S. agency obligations consisted solely of U.S. Government Agency securities with an amortized cost of $136.9 million and a fair value of $136.5 million. Mortgage-backed securities-residential consisted of U.S. Government Agency securities with an amortized cost of $31.5 million and a fair value of $32.2 million and GSE securities with an amortized cost of $139.8 million and a fair value of $143.6 million. In the held-to-maturity category at December 31, 2013, mortgage-backed securities-residential consisted of GSEs with an amortized cost of $100.1 million and a fair value of $98.9 million. | |||||||||||||||||||||||||
Securities in a continuous loss position, in the tables above for December 31, 2014 and December 31, 2013 do not reflect any deterioration of the credit worthiness of the issuing entities. U.S. agency issues, including mortgage-backed securities, are all rated Aaa by Moody's and AA+ by Standard and Poor's. The state and municipal obligations are general obligations supported by the general taxing authority of the issuer, and in some cases are insured. Obligations issued by school districts are supported by state aid. For any non-rated municipal securities, credit analysis is performed in-house based upon data that has been submitted by the issuers to the NY State Comptroller. That analysis shows no deterioration in the credit worthiness of the municipalities. Subsequent to December 31, 2014, there were no securities downgraded below investment grade. | |||||||||||||||||||||||||
The unrealized losses on these temporarily impaired securities are primarily the result of changes in interest rates for fixed rate securities where the interest rate received is less than the current rate available for new offerings of similar securities, changes in market spreads as a result of shifts in supply and demand, and/or changes in the level of prepayments for mortgage related securities. Because we do not currently intend to sell any of our temporarily impaired securities, and because it is not more likely-than-not we would be required to sell the securities prior to recovery, the impairment is considered temporary. | |||||||||||||||||||||||||
Schedule of Federal Reserve Bank and Federal Home Loan Bank Stock | |||||||||||||||||||||||||
Federal Reserve Bank and Federal Home Loan Bank Stock are carried at cost. | |||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Federal Reserve Bank Stock | $ | 1,048 | $ | 1,035 | |||||||||||||||||||||
Federal Home Loan Bank Stock | 3,803 | 5,246 | |||||||||||||||||||||||
Total Federal Reserve Bank and Federal Home Loan Bank Stock | $ | 4,851 | $ | 6,281 | |||||||||||||||||||||
Loans
Loans | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Abstract] | ||||||||||||||||||||||||||||||||
Financing Receivables [Text Block] | LOANS (Dollars In Thousands) | |||||||||||||||||||||||||||||||
Loan Categories and Past Due Loans | ||||||||||||||||||||||||||||||||
The following table presents loan balances outstanding as of December 31, 2014 and December 31, 2013 and an analysis of the recorded investment in loans that are past due at these dates. Generally, Arrow considers a loan past due 30 or more days if the borrower is two or more payments past due. | ||||||||||||||||||||||||||||||||
Schedule of Past Due Loans by Loan Category | ||||||||||||||||||||||||||||||||
Commercial | Commercial | Other | ||||||||||||||||||||||||||||||
Commercial | Construction | Real Estate | Consumer | Automobile | Residential | Total | ||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||||||
Loans Past Due 30-59 Days | $ | 124 | $ | — | $ | 432 | $ | 30 | $ | 4,137 | $ | 482 | $ | 5,205 | ||||||||||||||||||
Loans Past Due 60-89 Days | 154 | — | 7 | 4 | 1,221 | 1,495 | 2,881 | |||||||||||||||||||||||||
Loans Past Due 90 or More Days | 345 | — | 1,832 | 3 | 203 | 2,999 | 5,382 | |||||||||||||||||||||||||
Total Loans Past Due | 623 | — | 2,271 | 37 | 5,561 | 4,976 | 13,468 | |||||||||||||||||||||||||
Current Loans | 98,888 | 18,815 | 319,026 | 7,628 | 423,815 | 531,628 | 1,399,800 | |||||||||||||||||||||||||
Total Loans | $ | 99,511 | $ | 18,815 | $ | 321,297 | $ | 7,665 | $ | 429,376 | $ | 536,604 | $ | 1,413,268 | ||||||||||||||||||
Loans 90 or More Days Past Due and Still Accruing Interest | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 537 | $ | 537 | ||||||||||||||||||
Nonaccrual Loans | $ | 473 | $ | — | $ | 2,071 | $ | 4 | $ | 411 | $ | 3,940 | $ | 6,899 | ||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
Loans Past Due 30-59 Days | $ | 304 | $ | — | $ | 200 | $ | 37 | $ | 3,233 | $ | 529 | $ | 4,303 | ||||||||||||||||||
Loans Past Due 60-89 Days | 601 | — | 1,200 | 19 | 1,041 | 1,527 | 4,388 | |||||||||||||||||||||||||
Loans Past Due 90 or more Days | 177 | — | 2,034 | — | 98 | 3,113 | 5,422 | |||||||||||||||||||||||||
Total Loans Past Due | 1,082 | — | 3,434 | 56 | 4,372 | 5,169 | 14,113 | |||||||||||||||||||||||||
Current Loans | 86,811 | 27,815 | 284,685 | 7,593 | 389,832 | 455,623 | 1,252,359 | |||||||||||||||||||||||||
Total Loans | $ | 87,893 | $ | 27,815 | $ | 288,119 | $ | 7,649 | $ | 394,204 | $ | 460,792 | $ | 1,266,472 | ||||||||||||||||||
Loans 90 or More Days Past Due and Still Accruing Interest | $ | 28 | $ | — | $ | — | $ | — | $ | — | $ | 624 | $ | 652 | ||||||||||||||||||
Nonaccrual Loans | $ | 352 | $ | — | $ | 2,048 | $ | — | $ | 219 | $ | 3,860 | $ | 6,479 | ||||||||||||||||||
The Company disaggregates its loan portfolio into the following six categories: | ||||||||||||||||||||||||||||||||
Commercial - The Company offers a variety of loan options to meet the specific needs of our commercial customers including term loans, time notes and lines of credit. Such loans are made available to businesses for working capital needs such as inventory and receivables, business expansion and equipment purchases. Generally, a collateral lien is placed on equipment or other assets owned by the borrower. These loans carry a higher risk than commercial real estate loans due to the nature of the underlying collateral, which can be business assets such as equipment and accounts receivable and generally have a lower liquidation value than real estate. In the event of default by the borrower, the Company may be required to liquidate collateral at deeply discounted values. To reduce the risk, management usually obtains personal guarantees of the borrowers. | ||||||||||||||||||||||||||||||||
Commercial Construction - The Company offers commercial construction and land development loans to finance projects within the communities that we serve. Many projects will ultimately be used by the borrowers’ businesses, while others are developed for resale. These real estate loans are secured by first liens on the real estate, which may include apartments, commercial structures, housing businesses, healthcare facilities, and both owner-occupied and non-owner-occupied facilities. There is enhanced risk during the construction period, since the loan is secured by an incomplete project. | ||||||||||||||||||||||||||||||||
Commercial Real Estate - The Company offers commercial real estate loans to finance real estate purchases, refinancings, expansions and improvements to commercial properties. Commercial real estate loans are made to finance the purchases of real property which generally consists of real estate with completed structures. These commercial real estate loans are secured by first liens on the real estate, which may include apartments, commercial structures, housing businesses, healthcare facilities, and both owner and non owner-occupied facilities. These loans are typically less risky than commercial loans, since they are secured by real estate and buildings, and are generally originated in amounts of no more than 80% of the appraised value of the property. | ||||||||||||||||||||||||||||||||
Other Consumer Loans - The Company offers a variety of consumer installment loans to finance personal expenditures. Most of these loans carry a fixed rate of interest with principal repayment terms typically ranging from one to five years, based upon the nature of the collateral and the size of the loan. In addition to installment loans, the Company also offers personal lines of credit and overdraft protection. Several loans are unsecured, which carry a higher risk of loss. | ||||||||||||||||||||||||||||||||
Automobile - The Company primarily finances the purchases of automobiles indirectly through dealer relationships located throughout upstate New York and Vermont. Most of these loans carry a fixed rate of interest with principal repayment terms typically ranging from three to seven years. The majority of indirect consumer loans are underwritten on a secured basis using the underlying collateral being financed. | ||||||||||||||||||||||||||||||||
Residential Real Estate Mortgages - Residential real estate loans consist primarily of loans secured by first or second mortgages on primary residences. We originate adjustable-rate and fixed-rate one-to-four-family residential real estate loans for the construction, purchase or refinancing of a mortgage. These loans are collateralized primarily by owner-occupied properties generally located in the Company’s market area. Loans on one-to-four-family residential real estate are generally originated in amounts of no more than 85% of the purchase price or appraised value (whichever is lower), or have private mortgage insurance. The Company’s underwriting analysis for residential mortgage loans typically includes credit verification, independent appraisals, and a review of the borrower’s financial condition. Mortgage title insurance and hazard insurance are normally required. Construction loans have a unique risk, because they are secured by an incomplete dwelling. This risk is reduced through periodic site inspections, including one at each loan draw period. In addition, the Company offers fixed home equity loans as well as home equity lines of credit to consumers to finance home improvements, debt consolidation, education and other uses. Our policy allows for a maximum loan to value ratio of 80%. The Company originates home equity lines of credit and second mortgage loans (loans secured by a second junior lien position on one-to-four-family residential real estate). Risk is generally reduced through underwriting criteria, which include credit verification, appraisals, a review of the borrower's financial condition and personal cash flows. A security interest, with title insurance when necessary, is taken in the underlying real estate. | ||||||||||||||||||||||||||||||||
Allowance for Loan Losses | ||||||||||||||||||||||||||||||||
The following table presents a rollforward of the allowance for loan losses and other information pertaining to the allowance for loan losses: | ||||||||||||||||||||||||||||||||
Allowance for Loan Losses | ||||||||||||||||||||||||||||||||
Commercial | Commercial | Other | ||||||||||||||||||||||||||||||
Commercial | Construction | Real Estate | Consumer | Automobile | Residential | Unallocated | Total | |||||||||||||||||||||||||
Rollfoward of the Allowance for Loan Losses for the Year Ended: | ||||||||||||||||||||||||||||||||
31-Dec-13 | $ | 1,886 | $ | 417 | $ | 3,545 | $ | 272 | $ | 4,206 | $ | 3,026 | $ | 1,082 | $ | 14,434 | ||||||||||||||||
Charge-offs | (212 | ) | — | — | (41 | ) | (677 | ) | (91 | ) | (1,021 | ) | ||||||||||||||||||||
Recoveries | 86 | — | — | 6 | 217 | — | 309 | |||||||||||||||||||||||||
Provision | 340 | (135 | ) | 301 | 22 | 1,205 | 434 | (319 | ) | 1,848 | ||||||||||||||||||||||
31-Dec-14 | $ | 2,100 | $ | 282 | $ | 3,846 | $ | 259 | $ | 4,951 | $ | 3,369 | $ | 763 | $ | 15,570 | ||||||||||||||||
31-Dec-12 | $ | 2,344 | $ | 601 | $ | 3,050 | $ | 304 | $ | 4,536 | $ | 3,405 | $ | 1,058 | $ | 15,298 | ||||||||||||||||
Charge-offs | (926 | ) | — | (11 | ) | (28 | ) | (431 | ) | (15 | ) | — | (1,411 | ) | ||||||||||||||||||
Recoveries | 88 | — | — | 3 | 256 | — | — | 347 | ||||||||||||||||||||||||
Provision | 380 | (184 | ) | 506 | (7 | ) | (155 | ) | (364 | ) | 24 | 200 | ||||||||||||||||||||
December 31, 2013 | $ | 1,886 | $ | 417 | $ | 3,545 | $ | 272 | $ | 4,206 | $ | 3,026 | $ | 1,082 | $ | 14,434 | ||||||||||||||||
31-Dec-11 | $ | 1,927 | $ | 602 | $ | 3,136 | $ | 350 | $ | 4,496 | $ | 3,414 | $ | 1,078 | $ | 15,003 | ||||||||||||||||
Charge-offs | (90 | ) | — | (206 | ) | (52 | ) | (401 | ) | (33 | ) | — | (782 | ) | ||||||||||||||||||
Recoveries | 23 | — | — | 9 | 200 | — | — | 232 | ||||||||||||||||||||||||
Provision | 484 | (1 | ) | 120 | (3 | ) | 241 | 24 | (20 | ) | 845 | |||||||||||||||||||||
31-Dec-12 | $ | 2,344 | $ | 601 | $ | 3,050 | $ | 304 | $ | 4,536 | $ | 3,405 | $ | 1,058 | $ | 15,298 | ||||||||||||||||
Allowance for Loan Losses | ||||||||||||||||||||||||||||||||
Commercial | Commercial | Other | ||||||||||||||||||||||||||||||
Commercial | Construction | Real Estate | Consumer | Automobile | Residential | Unallocated | Total | |||||||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||||||||||
Allowance for loan losses - Loans Individually Evaluated for Impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 109 | $ | — | $ | 109 | ||||||||||||||||
Allowance for loan losses - Loans Collectively Evaluated for Impairment | $ | 2,100 | $ | 282 | $ | 3,846 | $ | 259 | $ | 4,951 | $ | 3,260 | $ | 763 | $ | 15,461 | ||||||||||||||||
Ending Loan Balance - Individually Evaluated for Impairment | $ | 494 | $ | — | $ | 1,492 | $ | — | $ | 118 | $ | 2,237 | $ | — | $ | 4,341 | ||||||||||||||||
Ending Loan Balance - Collectively Evaluated for Impairment | $ | 99,017 | $ | 18,815 | $ | 319,805 | $ | 7,665 | $ | 429,258 | $ | 534,367 | $ | — | $ | 1,408,927 | ||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
Allowance for loan losses - Loans Individually Evaluated for Impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Allowance for loan losses - Loans Collectively Evaluated for Impairment | $ | 1,886 | $ | 417 | $ | 3,545 | $ | 272 | $ | 4,206 | $ | 3,026 | $ | 1,082 | $ | 14,434 | ||||||||||||||||
Ending Loan Balance - Individually Evaluated for Impairment | $ | 221 | $ | — | $ | 1,785 | $ | — | $ | 173 | $ | 2,309 | $ | — | $ | 4,488 | ||||||||||||||||
Ending Loan Balance - Collectively Evaluated for Impairment | $ | 87,672 | $ | 27,815 | $ | 286,334 | $ | 7,649 | $ | 394,031 | $ | 458,483 | $ | — | $ | 1,261,984 | ||||||||||||||||
Through the provision for loan losses, an allowance for loan losses is maintained that reflects our best estimate of the inherent risk of loss in the Company’s loan portfolio as of the balance sheet date. Additions are made to the allowance for loan losses through a periodic provision for loan losses. Actual loan losses are charged against the allowance for loan losses when loans are deemed uncollectible and recoveries of amounts previously charged off are recorded as credits to the allowance for loan losses. | ||||||||||||||||||||||||||||||||
Our loan officers and risk managers meet at least quarterly to discuss and review the conditions and risks associated with certain criticized and classified commercial-related relationships. In addition, our independent internal loan review department performs periodic reviews of the credit quality indicators on individual loans in our commercial loan portfolio. | ||||||||||||||||||||||||||||||||
We use a two-step process to determine the provision for loan losses and the amount of the allowance for loan losses. We measure impairment on our impaired loans on a quarterly basis. Our impaired loans are generally nonaccrual loans over $250 thousand and all troubled debt restructured loans. Our impaired loans are generally considered to be collateral dependent with the specific reserve, if any, determined based on the value of the collateral less estimated costs to sell. | ||||||||||||||||||||||||||||||||
The remainder of the portfolio is evaluated on a pooled basis, as described below. For each homogeneous loan pool, we estimate a total loss factor based on the historical net loss rates adjusted for applicable qualitative factors. We update the total loss factors assigned to each loan category on a quarterly basis. Our indirect automobile loan portfolio reflects a modest shift, since mid 2013, to a slightly larger percentage of loans within the portfolio comprised of loans to individuals with lower credit scores. For the commercial, commercial construction, and commercial real estate categories, we further segregate the loan categories by credit risk profile (pools of loans graded pass, special mention and accruing substandard). Additional description of the credit risk classifications is detailed in the Credit Quality Indicators section of this note. | ||||||||||||||||||||||||||||||||
We determine the historical net loss rate for each loan category using a trailing three-year net charge-off average. While historical net loss experience provides a reasonable starting point for our analysis, historical net losses, or even recent trends in net losses, do not by themselves form a sufficient basis to determine the appropriate level of the allowance for loan losses. Therefore, we also consider and adjust historical net loss factors for qualitative factors that impact the inherent risk of loss associated with our loan categories within our total loan portfolio. These include: | ||||||||||||||||||||||||||||||||
• | Changes in the volume and severity of past due, nonaccrual and adversely classified loans | |||||||||||||||||||||||||||||||
• | Changes in the nature and volume of the portfolio and in the terms of loans | |||||||||||||||||||||||||||||||
• | Changes in the value of the underlying collateral for collateral dependent loans | |||||||||||||||||||||||||||||||
• | Changes in lending policies and procedures, including changes in underwriting standards and collection, charge-off, and recovery practices not considered elsewhere in estimating credit losses | |||||||||||||||||||||||||||||||
• | Changes in the quality of the loan review system | |||||||||||||||||||||||||||||||
• | Changes in the experience, ability, and depth of lending management and other relevant staff | |||||||||||||||||||||||||||||||
• | Changes in international, national, regional, and local economic and business conditions and developments that affect the collectability of the portfolio | |||||||||||||||||||||||||||||||
• | The existence and effect of any concentrations of credit, and changes in the level of such concentrations | |||||||||||||||||||||||||||||||
• | The effect of other external factors such as competition and legal and regulatory requirements on the level of estimated credit losses in the existing portfolio or pool | |||||||||||||||||||||||||||||||
While not a significant part of the allowance for loan losses methodology, we also maintain an unallocated portion of the total allowance for loan losses related to the overall level of imprecision inherent in the estimation of the appropriate level of allowance for loan losses. | ||||||||||||||||||||||||||||||||
Loan Credit Quality Indicators | ||||||||||||||||||||||||||||||||
The following table presents the credit quality indicators by loan category at December 31, 2014 and December 31, 2013: | ||||||||||||||||||||||||||||||||
Loan Credit Quality Indicators | ||||||||||||||||||||||||||||||||
Commercial | Commercial | Other | ||||||||||||||||||||||||||||||
Commercial | Construction | Real Estate | Consumer | Automobile | Residential | Total | ||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||||||
Credit Risk Profile by Creditworthiness Category: | ||||||||||||||||||||||||||||||||
Satisfactory | $ | 85,949 | $ | 18,815 | $ | 298,932 | $ | 403,696 | ||||||||||||||||||||||||
Special Mention | 2,442 | — | 3,718 | 6,160 | ||||||||||||||||||||||||||||
Substandard | 11,120 | — | 18,647 | 29,767 | ||||||||||||||||||||||||||||
Doubtful | — | — | — | — | ||||||||||||||||||||||||||||
Credit Risk Profile Based on Payment Activity: | ||||||||||||||||||||||||||||||||
Performing | $ | 7,661 | $ | 428,965 | $ | 532,127 | 968,753 | |||||||||||||||||||||||||
Nonperforming | 4 | 411 | 4,477 | 4,892 | ||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
Credit Risk Profile by Creditworthiness Category: | ||||||||||||||||||||||||||||||||
Satisfactory | $ | 79,966 | $ | 27,815 | $ | 267,612 | $ | 375,393 | ||||||||||||||||||||||||
Special Mention | 204 | — | 634 | 838 | ||||||||||||||||||||||||||||
Substandard | 7,723 | — | 19,873 | 27,596 | ||||||||||||||||||||||||||||
Doubtful | — | — | — | — | ||||||||||||||||||||||||||||
Credit Risk Profile Based on Payment Activity: | ||||||||||||||||||||||||||||||||
Performing | $ | 7,649 | $ | 393,985 | $ | 456,308 | $ | 857,942 | ||||||||||||||||||||||||
Nonperforming | — | 219 | 4,484 | 4,703 | ||||||||||||||||||||||||||||
For the purposes of the table above, nonperforming automobile, residential and other consumer loans are those loans on nonaccrual status or are 90 days or more past due and still accruing interest. | ||||||||||||||||||||||||||||||||
For the allowance calculation, we use an internally developed system of five credit quality indicators to rate the credit worthiness of each commercial loan defined as follows: | ||||||||||||||||||||||||||||||||
1) Satisfactory - "Satisfactory" borrowers have acceptable financial condition with satisfactory record of earnings and sufficient historical and projected cash flow to service the debt. Borrowers have satisfactory repayment histories and primary and secondary sources of repayment can be clearly identified; | ||||||||||||||||||||||||||||||||
2) Special Mention - Loans in this category have potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the institution’s credit position at some future date. "Special mention" assets are not adversely classified and do not expose an institution to sufficient risk to warrant adverse classification. Loans which might be assigned this credit quality indicator include loans to borrowers with deteriorating financial strength and/or earnings record and loans with potential for problems due to weakening economic or market conditions; | ||||||||||||||||||||||||||||||||
3) Substandard - Loans classified as “substandard” are inadequately protected by the current sound net worth or paying capacity of the borrower or the collateral pledged, if any. Loans in this category have well defined weaknesses that jeopardize the repayment. They are characterized by the distinct possibility that the bank will sustain some loss if the deficiencies are not corrected. “Substandard” loans may include loans which are likely to require liquidation of collateral to effect repayment, and other loans where character or ability to repay has become suspect. Loss potential, while existing in the aggregate amount of substandard assets, does not have to exist in individual assets classified substandard; | ||||||||||||||||||||||||||||||||
4) Doubtful - Loans classified as “doubtful” have all of the weaknesses inherent in those classified as “substandard” with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of current existing facts, conditions, and values highly questionable and improbable. Although possibility of loss is extremely high, classification of these loans as “loss” has been deferred due to specific pending factors or events which may strengthen the value (i.e. possibility of additional collateral, injection of capital, collateral liquidation, debt restructure, economic recovery, etc). Loans classified as “doubtful” need to be placed on non-accrual; and | ||||||||||||||||||||||||||||||||
5) Loss - Loans classified as “loss” are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. As of the date of the balance sheet, all loans in this category have been charged-off to the allowance for loan losses. | ||||||||||||||||||||||||||||||||
Commercial loans are generally evaluated on an annual basis depending on the size and complexity of the loan relationship, unless the credit related quality indicator falls to a level of "special mention" or below, when the loan is evaluated quarterly. The credit quality indicator is one of the factors used in assessing the level of inherent risk of loss in our commercial related loan portfolios. | ||||||||||||||||||||||||||||||||
Impaired Loans | ||||||||||||||||||||||||||||||||
The following table presents information on impaired loans based on whether the impaired loan has a recorded allowance or no recorded allowance: | ||||||||||||||||||||||||||||||||
Impaired Loans | ||||||||||||||||||||||||||||||||
Commercial | Commercial | Other | ||||||||||||||||||||||||||||||
Commercial | Construction | Real Estate | Consumer | Automobile | Residential | Total | ||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||||||
Recorded Investment: | ||||||||||||||||||||||||||||||||
With No Related Allowance | $ | 494 | $ | — | $ | 1,492 | $ | — | $ | 118 | $ | 1,678 | $ | 3,782 | ||||||||||||||||||
With a Related Allowance | — | — | — | — | — | 559 | 559 | |||||||||||||||||||||||||
Unpaid Principal Balance: | ||||||||||||||||||||||||||||||||
With No Related Allowance | $ | 494 | $ | — | $ | 1,492 | $ | — | $ | 118 | $ | 1,678 | $ | 3,782 | ||||||||||||||||||
With a Related Allowance | — | — | — | — | — | 559 | 559 | |||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
Recorded Investment: | ||||||||||||||||||||||||||||||||
With No Related Allowance | $ | 221 | $ | — | $ | 1,785 | $ | — | $ | 173 | $ | 2,309 | $ | 4,488 | ||||||||||||||||||
With a Related Allowance | — | — | — | — | — | — | $ | — | ||||||||||||||||||||||||
Unpaid Principal Balance: | ||||||||||||||||||||||||||||||||
With No Related Allowance | $ | 221 | $ | — | $ | 1,785 | $ | — | $ | 173 | $ | 2,309 | $ | 4,488 | ||||||||||||||||||
With a Related Allowance | — | — | — | — | — | — | $ | — | ||||||||||||||||||||||||
For the Year-To-Date Period Ended: | ||||||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||||||
Average Recorded Balance: | ||||||||||||||||||||||||||||||||
With No Related Allowance | $ | 348 | $ | — | $ | 1,492 | $ | — | $ | 121 | $ | 1,673 | $ | 3,634 | ||||||||||||||||||
With a Related Allowance | — | — | — | — | — | 546 | $ | 546 | ||||||||||||||||||||||||
Interest Income Recognized: | ||||||||||||||||||||||||||||||||
With No Related Allowance | $ | 11 | $ | — | $ | — | $ | — | $ | 7 | $ | 1 | $ | 19 | ||||||||||||||||||
With a Related Allowance | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Cash Basis Income: | ||||||||||||||||||||||||||||||||
With No Related Allowance | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
With a Related Allowance | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Related Allowance | — | — | — | — | — | 109 | $ | 109 | ||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
Average Recorded Balance: | ||||||||||||||||||||||||||||||||
With No Related Allowance | $ | 133 | $ | — | $ | 2,157 | $ | — | $ | 188 | $ | 1,700 | $ | 4,178 | ||||||||||||||||||
With a Related Allowance | 694 | — | — | — | — | — | $ | 694 | ||||||||||||||||||||||||
Interest Income Recognized: | ||||||||||||||||||||||||||||||||
With No Related Allowance | $ | 4 | $ | — | $ | — | $ | — | $ | 9 | $ | 8 | $ | 21 | ||||||||||||||||||
With a Related Allowance | — | — | — | — | — | — | $ | — | ||||||||||||||||||||||||
Cash Basis Income: | ||||||||||||||||||||||||||||||||
With No Related Allowance | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
With a Related Allowance | — | — | — | — | — | — | $ | — | ||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||
Average Recorded Balance: | ||||||||||||||||||||||||||||||||
With No Related Allowance | $ | 56 | $ | — | $ | 2,241 | $ | — | $ | 236 | $ | 1,599 | $ | 4,132 | ||||||||||||||||||
With a Related Allowance | $ | 694 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 694 | ||||||||||||||||||
Interest Income Recognized: | ||||||||||||||||||||||||||||||||
With No Related Allowance | $ | 6 | $ | — | $ | 64 | $ | — | $ | 12 | $ | 9 | $ | 91 | ||||||||||||||||||
With a Related Allowance | — | — | — | — | — | — | $ | — | ||||||||||||||||||||||||
Cash Basis Income: | ||||||||||||||||||||||||||||||||
With No Related Allowance | $ | — | $ | — | $ | 64 | $ | — | $ | — | $ | — | $ | 64 | ||||||||||||||||||
With a Related Allowance | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
At December 31, 2014 and December 31, 2013, all impaired loans were considered to be collateral dependent and were therefore evaluated for impairment based on the fair value of collateral less estimated cost to sell. Interest income recognized in the table above, represents income earned after the loans became impaired and includes restructured loans in compliance with their modified terms and nonaccrual loans where we have recognized interest income on a cash basis. | ||||||||||||||||||||||||||||||||
Loans Modified in Trouble Debt Restructurings | ||||||||||||||||||||||||||||||||
The following table presents information on loans modified in trouble debt restructurings during the periods indicated: | ||||||||||||||||||||||||||||||||
Loans Modified in Trouble Debt Restructurings During the Period | ||||||||||||||||||||||||||||||||
Commercial | Commercial | Other | ||||||||||||||||||||||||||||||
Commercial | Construction | Real Estate | Consumer | Automobile | Residential | Total | ||||||||||||||||||||||||||
For the Year Ended: | ||||||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||||||
Number of Loans | — | — | — | — | 4 | 1 | 5 | |||||||||||||||||||||||||
Pre-Modification Outstanding Recorded Investment | $ | — | $ | — | $ | — | $ | — | $ | 36 | $ | 574 | $ | 610 | ||||||||||||||||||
Post-Modification Outstanding Recorded Investment | $ | — | $ | — | $ | — | $ | — | $ | 36 | $ | 574 | $ | 610 | ||||||||||||||||||
Subsequent Default, Number of Contracts | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Subsequent Default, Recorded Investment | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Commitments to lend additional funds to modified loans | — | — | — | — | — | — | — | |||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
Number of Loans | 1 | — | — | — | 9 | — | 10 | |||||||||||||||||||||||||
Pre-Modification Outstanding Recorded Investment | $ | 169 | $ | — | $ | — | $ | — | $ | 88 | $ | — | $ | 257 | ||||||||||||||||||
Post-Modification Outstanding Recorded Investment | $ | 200 | $ | — | $ | — | $ | — | $ | 88 | $ | — | $ | 288 | ||||||||||||||||||
Subsequent Default, Number of Contracts | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Subsequent Default, Recorded Investment | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Commitments to lend additional funds to modified loans | — | — | — | — | — | — | — | |||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||
Number of Loans | — | — | 2 | — | 17 | — | 19 | |||||||||||||||||||||||||
Pre-Modification Outstanding Recorded Investment | $ | — | $ | — | $ | 47 | $ | — | $ | 160 | $ | — | $ | 207 | ||||||||||||||||||
Post-Modification Outstanding Recorded Investment | $ | — | $ | — | $ | 47 | $ | — | $ | 160 | $ | — | $ | 207 | ||||||||||||||||||
Subsequent Default, Number of Contracts | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Subsequent Default, Recorded Investment | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Commitments to lend additional funds to modified loans | — | — | — | — | — | — | — | |||||||||||||||||||||||||
In general, loans requiring modification are restructured to accommodate the projected cash-flows of the borrower. Such modifications may involve a reduction of the interest rate, a significant deferral of payments or forgiveness of a portion of the outstanding principal balance. As indicated in the table above, no loans modified during the preceding twelve months subsequently defaulted as of December 31, 2014 or December 31, 2013. | ||||||||||||||||||||||||||||||||
Schedule of Supplemental Loan Information | ||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
Supplemental Information: | ||||||||||||||||||||||||||||||||
Unamortized deferred loan origination costs, net of deferred loan | $ | 2,771 | $ | 2,152 | ||||||||||||||||||||||||||||
origination fees, included in the above balances | ||||||||||||||||||||||||||||||||
Overdrawn deposit accounts, included in the above balances | 973 | 501 | ||||||||||||||||||||||||||||||
Pledged loans secured by one-to-four family residential mortgages | 313,355 | 270,372 | ||||||||||||||||||||||||||||||
under a blanket collateral agreement to secure borrowings from | ||||||||||||||||||||||||||||||||
the Federal Home Loan Bank of New York | ||||||||||||||||||||||||||||||||
Residential real estate loans serviced for Freddie Mac, not included | 158,598 | 156,593 | ||||||||||||||||||||||||||||||
in the balances above | ||||||||||||||||||||||||||||||||
Loans held for sale at period-end, included in the above balances | 398 | 64 | ||||||||||||||||||||||||||||||
Loans to Related Parties: | ||||||||||||||||||||||||||||||||
Balance at beginning of year | $ | 7,769 | $ | 17,447 | ||||||||||||||||||||||||||||
Adjustment due to change in composition of related parties | — | (8,819 | ) | |||||||||||||||||||||||||||||
New loans and renewals, during the year | 694 | 2,253 | ||||||||||||||||||||||||||||||
Repayments, during the year | (2,460 | ) | (3,112 | ) | ||||||||||||||||||||||||||||
Balance at end of year | $ | 6,003 | $ | 7,769 | ||||||||||||||||||||||||||||
Premises_and_Equipment
Premises and Equipment | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Property, Plant and Equipment [Abstract] | ||||||||
Property, Plant and Equipment Disclosure [Text Block] | PREMISES AND EQUIPMENT (In Thousands) | |||||||
A summary of premises and equipment at December 31, 2014 and 2013 is presented below: | ||||||||
2014 | 2013 | |||||||
Land and Bank Premises | $ | 35,062 | $ | 35,114 | ||||
Equipment, Furniture and Fixtures | 22,003 | 20,851 | ||||||
Leasehold Improvements | 1,218 | 1,190 | ||||||
Total Cost | 58,283 | 57,155 | ||||||
Accumulated Depreciation and Amortization | (29,795 | ) | (28,001 | ) | ||||
Net Premises and Equipment | $ | 28,488 | $ | 29,154 | ||||
Amounts charged to expense for depreciation totaled $2,238, $1,928 and $1,521 in 2014, 2013 and 2012, respectively. |
Other_Intangible_Assets
Other Intangible Assets | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||
Intangible Assets Disclosure [Text Block] | OTHER INTANGIBLE ASSETS (In Thousands) | |||||||||||||||
The following table presents information on Arrow’s other intangible assets (other than goodwill) as of December 31, 2014, 2013 and 2012: | ||||||||||||||||
Depositor | Mortgage | Customer Intangibles1 | Total | |||||||||||||
Intangibles1 | Servicing | |||||||||||||||
Rights2 | ||||||||||||||||
Gross Carrying Amount, December 31, 2014 | $ | 2,247 | $ | 1,715 | $ | 4,451 | $ | 8,413 | ||||||||
Accumulated Amortization | (2,237 | ) | (883 | ) | (1,668 | ) | (4,788 | ) | ||||||||
Net Carrying Amount, December 31, 2014 | $ | 10 | $ | 832 | $ | 2,783 | $ | 3,625 | ||||||||
Gross Carrying Amount, December 31, 2013 | $ | 2,247 | $ | 1,582 | $ | 4,451 | $ | 8,280 | ||||||||
Accumulated Amortization | (2,186 | ) | (622 | ) | (1,332 | ) | (4,140 | ) | ||||||||
Net Carrying Amount, December 31, 2013 | $ | 61 | $ | 960 | $ | 3,119 | $ | 4,140 | ||||||||
Rollforward of Intangible Assets: | ||||||||||||||||
Balance, December 31, 2011 | $ | 286 | $ | 599 | $ | 3,864 | $ | 4,749 | ||||||||
Intangible Assets Acquired | — | 417 | — | 417 | ||||||||||||
Amortization of Intangible Assets | (133 | ) | (157 | ) | (384 | ) | (674 | ) | ||||||||
Balance, December 31, 2012 | 153 | 859 | 3,480 | 4,492 | ||||||||||||
Intangible Assets Acquired | — | 331 | — | 331 | ||||||||||||
Amortization of Intangible Assets | (92 | ) | (230 | ) | (361 | ) | (683 | ) | ||||||||
Balance, December 31, 2013 | 61 | 960 | 3,119 | 4,140 | ||||||||||||
Intangible Assets Acquired | — | 133 | — | 133 | ||||||||||||
Amortization of Intangible Assets | (51 | ) | (261 | ) | (336 | ) | (648 | ) | ||||||||
Balance, December 31, 2014 | $ | 10 | $ | 832 | $ | 2,783 | $ | 3,625 | ||||||||
1 Amortization of depositor intangibles and customer intangibles are reported in the consolidated statements of income as a component of other operating expense. | ||||||||||||||||
2 Amortization of mortgage servicing rights is reported in the consolidated statements of income as a reduction of mortgage servicing fee income, which is included with fees for other services to customers. | ||||||||||||||||
The following table presents the remaining estimated annual amortization expense for Arrow's intangible assets as of December 31, 2014: | ||||||||||||||||
Depositor | Mortgage | Customer Intangibles1 | Total | |||||||||||||
Intangibles1 | Servicing | |||||||||||||||
Rights2 | ||||||||||||||||
Estimated Annual Amortization Expense: | ||||||||||||||||
2015 | $ | 10 | $ | 252 | $ | 319 | $ | 581 | ||||||||
2016 | — | 232 | 301 | 533 | ||||||||||||
2017 | — | 172 | 281 | 453 | ||||||||||||
2018 | — | 118 | 263 | 381 | ||||||||||||
2019 | — | 45 | 245 | 290 | ||||||||||||
Later Years | — | 13 | 1,374 | 1,387 | ||||||||||||
Total | $ | 10 | $ | 832 | $ | 2,783 | $ | 3,625 | ||||||||
1 Amortization of depositor intangibles and customer intangibles are reported in the consolidated statements of income as a component of other operating expense. | ||||||||||||||||
2 Amortization of mortgage servicing rights is reported in the consolidated statements of income as a reduction of mortgage servicing fee income, which is included with fees for other services to customers. |
Guarantees
Guarantees | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Guarantees [Abstract] | ||||||||
Guarantees [Text Block] | GUARANTEES (Dollars In Thousands) | |||||||
The following table presents the notional amount and fair value of Arrow's off-balance sheet commitments to extend credit and commitments under standby letters of credit as of December 31, 2014 and 2013: | ||||||||
Balance at December 31, | 2014 | 2013 | ||||||
Notional Amount: | ||||||||
Commitments to Extend Credit | $ | 249,803 | $ | 237,940 | ||||
Standby Letters of Credit | 3,317 | 3,345 | ||||||
Fair Value: | ||||||||
Commitments to Extend Credit | $ | — | $ | — | ||||
Standby Letters of Credit | 39 | 65 | ||||||
Arrow is party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. Commitments to extend credit include home equity lines of credit, commitments for residential and commercial construction loans and other personal and commercial lines of credit. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated balance sheets. The contract or notional amounts of those instruments reflect the extent of the involvement Arrow has in particular classes of financial instruments. | ||||||||
Arrow's exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit is represented by the contractual notional amount of those instruments. Arrow uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. | ||||||||
Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Arrow evaluates each customer's creditworthiness on a case-by-case basis. Home equity lines of credit are secured by residential real estate. Construction lines of credit are secured by underlying real estate. For other lines of credit, the amount of collateral obtained, if deemed necessary by Arrow upon extension of credit, is based on management's credit evaluation of the counterparty. Collateral held varies, but may include accounts receivable, inventory, property, plant and equipment, and income-producing commercial properties. Most of the commitments are variable rate instruments. | ||||||||
Arrow does not issue any guarantees that would require liability-recognition or disclosure, other than its standby letters of credit. | ||||||||
Arrow has issued conditional commitments in the form of standby letters of credit to guarantee payment on behalf of a customer and guarantee the performance of a customer to a third party. Standby letters of credit generally arise in connection with lending relationships. The credit risk involved in issuing these instruments is essentially the same as that involved in extending loans to customers. Contingent obligations under standby letters of credit at December 31, 2014 and 2013 represent the maximum potential future payments Arrow could be required to make. Typically, these instruments have terms of 12 months or less and expire unused; therefore, the total amounts do not necessarily represent future cash requirements. Each customer is evaluated individually for creditworthiness under the same underwriting standards used for commitments to extend credit and on-balance sheet instruments. Company policies governing loan collateral apply to standby letters of credit at the time of credit extension. Loan-to-value ratios will generally range from 50% for movable assets, such as inventory, to 100% for liquid assets, such as bank CD's. Fees for standby letters of credit range from 1% to 3% of the notional amount. Fees are collected upfront and amortized over the life of the commitment. The carrying amount and fair value of Arrow's standby letters of credit at December 31, 2014 and 2013 were insignificant. The fair value of standby letters of credit is based on the fees currently charged for similar agreements or the cost to terminate the arrangement with the counterparties. | ||||||||
The fair value of commitments to extend credit is determined by estimating the fees to enter into similar agreements, taking into account the remaining terms and present creditworthiness of the counterparties, and for fixed rate loan commitments, the difference between the current and committed interest rates. Arrow provides several types of commercial lines of credit and standby letters of credit to its commercial customers. The pricing of these services is not isolated as Arrow considers the customer's complete deposit and borrowing relationship in pricing individual products and services. The commitments to extend credit also include commitments under home equity lines of credit, for which Arrow charges no fee. The carrying value and fair value of commitments to extend credit are not material and Arrow does not expect to incur any material loss as a result of these commitments. | ||||||||
In the normal course of business, Arrow and its subsidiary banks become involved in a variety of routine legal proceedings. At present, there are no legal proceedings pending or threatened, which in the opinion of management and counsel, would result in a material loss to Arrow. |
Time_Deposits
Time Deposits | 12 Months Ended | |||
Dec. 31, 2014 | ||||
Time Deposits [Abstract] | ||||
Deposit Liabilities Disclosures [Text Block] | TIME DEPOSITS (Dollars In Thousands) | |||
The following summarizes the contractual maturities of time deposits during years subsequent to December 31, 2014: | ||||
Year of Maturity | Total Time | |||
Deposits | ||||
2015 | $ | 124,406 | ||
2016 | 28,487 | |||
2017 | 19,869 | |||
2018 | 11,845 | |||
2019 | 17,126 | |||
2020 and Beyond | 4,110 | |||
Total | $ | 205,843 | ||
Debt
Debt | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||
Debt [Text Block] | DEBT (Dollars in Thousands) | ||||||||||||||
Schedule of Short-Term Borrowings: | |||||||||||||||
2014 | 2013 | ||||||||||||||
Balances at December 31: | |||||||||||||||
Overnight Advances from the Federal Home Loan Bank of New York | $ | 41,000 | $ | 53,000 | |||||||||||
Securities Sold Under Agreements to Repurchase | 19,421 | 11,777 | |||||||||||||
Total Short-Term Borrowings | $ | 60,421 | $ | 64,777 | |||||||||||
Maximum Borrowing Capacity at December 31: | |||||||||||||||
Federal Funds Purchased | $ | 35,000 | $ | 30,000 | |||||||||||
Overnight Advances from the Federal Home Loan Bank of New York | 203,885 | 214,000 | |||||||||||||
Federal Reserve Bank of New York | 307,159 | 302,000 | |||||||||||||
Securities sold under agreements to repurchase mature in one day. Arrow maintains effective control over the securities underlying the agreements. | |||||||||||||||
Arrow's subsidiary banks have in place unsecured federal funds lines of credit with three correspondent banks. As a member of the FHLBNY, we participate in the advance program which allows for overnight and term advances up to the limit of pledged collateral, including FHLBNY stock, mortgage-backed securities and residential real estate loans (see Note 4. "Investment Securities" and Note 5. "Loans"). Our investment in FHLBNY stock is proportional to the total of our overnight and term advances (see the Schedule of Federal Reserve Bank and Federal Home Loan Bank Stock in Note 4. "Investment Securities"). Our bank subsidiaries have also established borrowing facilities with the Federal Reserve Bank of New York for potential “discount window” advances, pledging certain consumer loans as collateral (see Note 5. "Loans"). | |||||||||||||||
Long Term Debt - FHLBNY Term Advances | |||||||||||||||
In addition to overnight advances, Arrow also borrows longer-term funds from the FHLBNY. Certain borrowings are in the form of “convertible advances.” These advances have a set final maturity, but are callable by the FHLBNY at certain dates beginning no earlier than one year from the issuance date. If the advances are called, Arrow may elect to have the funds replaced by the FHLBNY at the then prevailing market rate of interest. | |||||||||||||||
Maturity Schedule of FHBLNY Term Advances: | |||||||||||||||
Balances | Weighted Average Rate | ||||||||||||||
Final Maturity | 2014 | 2013 | 2014 | 2013 | |||||||||||
First Year | $ | 10,000 | $ | 10,000 | 3.88 | % | 1.43 | % | |||||||
Second Year | — | 10,000 | — | % | 3.88 | % | |||||||||
Third Year | — | — | — | % | — | % | |||||||||
Total | $ | 10,000 | $ | 20,000 | 3.88 | % | 2.66 | % | |||||||
Long Term Debt - Guaranteed Preferred Beneficial Interests in Corporation's Junior Subordinated Debentures | |||||||||||||||
During 2014, there were outstanding two classes of financial instruments issued by two separate subsidiary business trusts of Arrow, identified as “Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts” on the Consolidated Balance Sheets and the Consolidated Statements of Income. | |||||||||||||||
The first of the two classes of trust-issued instruments outstanding at year-end was issued by Arrow Capital Statutory Trust II ("ACST II"), a Delaware business trust established on July 16, 2003, upon the filing of a certificate of trust with the Delaware Secretary of State. In July 2003, ACST II issued all of its voting (common) stock to Arrow and issued and sold to an unaffiliated purchaser 30-year guaranteed preferred beneficial interests in the trust's assets ("ACST II trust preferred securities"). The rate on the securities is variable, adjusting quarterly to the 3-month LIBOR plus 3.15%. ACST II used the proceeds of the sale of its trust preferred securities to purchase an identical amount of junior subordinated debentures issued by Arrow that bear an interest rate identical at all times to the rate payable on the ACST II trust preferred securities. The ACST II trust preferred securities became redeemable after July 23, 2008 and mature on July 23, 2033. | |||||||||||||||
The second of the two classes of trust-issued instruments outstanding at year-end was issued by Arrow Capital Statutory Trust III ("ACST III"), a Delaware business trust established on December 23, 2004, upon the filing of a certificate of trust with the Delaware Secretary of State. On December 28, 2004, the ACST III issued all of its voting (common) stock to Arrow and issued and sold to an unaffiliated purchaser 30-year guaranteed preferred beneficial interests in the trust's assets ("ACST III"). The rate on the ACST III trust preferred securities is a variable rate, adjusted quarterly, equal to the 3-month LIBOR plus 2.00%. ACST III used the proceeds of the sale of its trust preferred securities to purchase an identical amount of junior subordinated debentures issued by Arrow that bear an interest rate identical at all times to the rate payable on the ACST III trust preferred securities. The ACST III trust preferred securities became redeemable on or after March 31, 2010 and mature on December 28, 2034. | |||||||||||||||
The primary assets of the two subsidiary trusts having trust preferred securities outstanding at year-end, ACST II and ACST III (the “Trusts”), are Arrow's junior subordinated debentures discussed above, and the sole revenues of the Trusts are payments received by them from Arrow with respect to the junior subordinated debentures. The trust preferred securities issued by the Trusts are non-voting. All common voting securities of the Trusts are owned by Arrow. Arrow used the net proceeds from its sale of junior subordinated debentures to the Trusts, facilitated by the Trust’s sale of their trust preferred securities to the purchasers thereof, for general corporate purposes. The trust preferred securities and underlying junior subordinated debentures, with associated expense that is tax deductible, qualify as Tier I capital under regulatory definitions. | |||||||||||||||
Arrow's primary source of funds to pay interest on the debentures that are held by the Trusts are current dividends received by Arrow from its subsidiary banks. Accordingly, Arrow's ability to make payments on the debentures, and the ability of the Trusts to make payments on their trust preferred securities, are dependent upon the continuing ability of Arrow's subsidiary banks to pay dividends to Arrow. Since the trust preferred securities issued by the subsidiary trusts and the underlying junior subordinated debentures issued by Arrow at December 31, 2014, 2013 and 2012 are classified as debt for financial statement purposes, the expense associated with these securities is recorded as interest expense in the consolidated statements of income for the three years. | |||||||||||||||
Schedule of Guaranteed Preferred Beneficial Interests in Corporation's Junior Subordinated Debentures | |||||||||||||||
2014 | 2013 | ||||||||||||||
ACST II | |||||||||||||||
Balance at December 31, | $ | 10,000 | $ | 10,000 | |||||||||||
Period-End Interest Rate | 3.38 | % | 3.4 | % | |||||||||||
ACST III | |||||||||||||||
Balance at December 31, | $ | 10,000 | $ | 10,000 | |||||||||||
Period-End Interest Rate | 2.23 | % | 2.25 | % |
Comprehensive_Income
Comprehensive Income | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||||||||||||||
Other Comprehensive Income, Noncontrolling Interest [Text Block] | COMPREHENSIVE INCOME (Dollars In Thousands) | |||||||||||||||
The following table presents the components of other comprehensive income for the years ended December 31, 2014, 2013 and 2012: | ||||||||||||||||
Schedule of Comprehensive Income | ||||||||||||||||
Before-Tax | Tax | Net-of-Tax | ||||||||||||||
Amount | (Expense) | Amount | ||||||||||||||
Benefit | ||||||||||||||||
2014 | ||||||||||||||||
Net Unrealized Securities Holding Gains Arising During the Period | $ | 356 | $ | (124 | ) | $ | 232 | |||||||||
Reclassification Adjustment for Securities Gains Included in Net Income | (110 | ) | 43 | (67 | ) | |||||||||||
Net Retirement Plan Loss | (4,610 | ) | 1,764 | (2,846 | ) | |||||||||||
Net Retirement Plan Prior Service Credit | (570 | ) | 223 | (347 | ) | |||||||||||
Amortization of Net Retirement Plan Actuarial Loss | 474 | (186 | ) | 288 | ||||||||||||
Accretion of Net Retirement Plan Prior Service Credit | (87 | ) | 34 | (53 | ) | |||||||||||
Other Comprehensive Income | $ | (4,547 | ) | $ | 1,754 | $ | (2,793 | ) | ||||||||
2013 | ||||||||||||||||
Net Unrealized Securities Holding Gains Arising During the Period | $ | (4,843 | ) | $ | 1,918 | $ | (2,925 | ) | ||||||||
Reclassification Adjustment for Securities Gains Included in Net Income | (540 | ) | 214 | (326 | ) | |||||||||||
Net Retirement Plan Gain | 10,640 | (4,215 | ) | 6,425 | ||||||||||||
Amortization of Net Retirement Plan Actuarial Loss | 1,513 | (599 | ) | 914 | ||||||||||||
Accretion of Net Retirement Plan Prior Service Credit | 2 | (1 | ) | 1 | ||||||||||||
Other Comprehensive Income | $ | 6,772 | $ | (2,683 | ) | $ | 4,089 | |||||||||
2012 | ||||||||||||||||
Net Unrealized Securities Holding Gains Arising During the Period | $ | (1,094 | ) | $ | 433 | $ | (661 | ) | ||||||||
Reclassification Adjustment for Securities Gains Included in Net Income | (865 | ) | 343 | (522 | ) | |||||||||||
Net Retirement Plan Loss | (2,218 | ) | 878 | (1,340 | ) | |||||||||||
Net Retirement Plan Prior Service Credit | (405 | ) | 160 | (245 | ) | |||||||||||
Amortization of Net Retirement Plan Actuarial Loss | 1,677 | (664 | ) | 1,013 | ||||||||||||
Accretion of Net Retirement Plan Prior Service Credit | (20 | ) | 8 | (12 | ) | |||||||||||
Other Comprehensive Income | $ | (2,925 | ) | $ | 1,158 | $ | (1,767 | ) | ||||||||
The following table presents the changes in accumulated other comprehensive income by component: | ||||||||||||||||
Changes in Accumulated Other Comprehensive Income (Loss) by Component (1) | ||||||||||||||||
Unrealized | Defined Benefit Plan Items | |||||||||||||||
Gains and | ||||||||||||||||
Losses on | Net Prior | |||||||||||||||
Available-for- | Net Gain | Service | ||||||||||||||
Sale Securities | (Loss) | (Cost ) Credit | Total | |||||||||||||
For the Year-To-Date periods ended: | ||||||||||||||||
31-Dec-13 | $ | 2,374 | $ | (6,697 | ) | $ | (50 | ) | $ | (4,373 | ) | |||||
Other comprehensive income (loss) before reclassifications | 232 | (2,846 | ) | (347 | ) | (2,961 | ) | |||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (67 | ) | 288 | (53 | ) | 168 | ||||||||||
Net current-period other comprehensive income | 165 | (2,558 | ) | (400 | ) | (2,793 | ) | |||||||||
December 31, 2014 | $ | 2,539 | $ | (9,255 | ) | $ | (450 | ) | $ | (7,166 | ) | |||||
December 31, 2012 | $ | 5,625 | $ | (14,036 | ) | $ | (51 | ) | $ | (8,462 | ) | |||||
Other comprehensive income (loss) before reclassifications | (2,925 | ) | 6,425 | — | 3,500 | |||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (326 | ) | 914 | 1 | 589 | |||||||||||
Net current-period other comprehensive income | (3,251 | ) | 7,339 | 1 | 4,089 | |||||||||||
December 31, 2013 | $ | 2,374 | $ | (6,697 | ) | $ | (50 | ) | $ | (4,373 | ) | |||||
December 31, 2011 | $ | 6,808 | $ | (13,709 | ) | $ | 206 | $ | (6,695 | ) | ||||||
Other comprehensive income (loss) before reclassifications | (661 | ) | (1,340 | ) | (245 | ) | (2,246 | ) | ||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (522 | ) | 1,013 | (12 | ) | 479 | ||||||||||
Net current-period other comprehensive income | (1,183 | ) | (327 | ) | (257 | ) | (1,767 | ) | ||||||||
December 31, 2012 | $ | 5,625 | $ | (14,036 | ) | $ | (51 | ) | $ | (8,462 | ) | |||||
(1) All amounts are net of tax. Amounts in parentheses indicate debits. | ||||||||||||||||
The following table presents the reclassifications out of accumulated other comprehensive income: | ||||||||||||||||
Reclassifications Out of Accumulated Other Comprehensive Income (1) | ||||||||||||||||
Amounts Reclassified | ||||||||||||||||
Details about Accumulated Other | from Accumulated Other | Affected Line Item in the Statement | ||||||||||||||
Comprehensive Income Components | Comprehensive Income | Where Net Income Is Presented | ||||||||||||||
For the Year-to-date periods ended: | ||||||||||||||||
December 31, 2014 | ||||||||||||||||
Unrealized gains and losses on available-for-sale securities | ||||||||||||||||
$ | 110 | Gain on Securities Transactions, Net | ||||||||||||||
110 | Total before tax | |||||||||||||||
(43 | ) | Provision for Income Taxes | ||||||||||||||
$ | 67 | Net of tax | ||||||||||||||
Amortization of defined benefit pension items | ||||||||||||||||
Prior-service costs | $ | 87 | (2) | Salaries and Employee Benefits | ||||||||||||
Actuarial gains/(losses) | (474 | ) | (2) | Salaries and Employee Benefits | ||||||||||||
(387 | ) | Total before tax | ||||||||||||||
152 | Provision for Income Taxes | |||||||||||||||
$ | (235 | ) | Net of tax | |||||||||||||
Total reclassifications for the period | $ | (168 | ) | Net of tax | ||||||||||||
December 31, 2013 | ||||||||||||||||
Unrealized gains and losses on available-for-sale securities | ||||||||||||||||
$ | 540 | Gain on Securities Transactions, Net | ||||||||||||||
540 | Total before tax | |||||||||||||||
(214 | ) | Provision for Income Taxes | ||||||||||||||
$ | 326 | Net of tax | ||||||||||||||
Amortization of defined benefit pension items | ||||||||||||||||
Prior-service costs | (2 | ) | (2) | Salaries and Employee Benefits | ||||||||||||
Actuarial gains/(losses) | $ | (1,513 | ) | (2) | Salaries and Employee Benefits | |||||||||||
(1,515 | ) | Total before tax | ||||||||||||||
600 | Provision for Income Taxes | |||||||||||||||
$ | (915 | ) | Net of tax | |||||||||||||
Total reclassifications for the period | $ | (589 | ) | Net of tax | ||||||||||||
Reclassifications Out of Accumulated Other Comprehensive Income (1) | ||||||||||||||||
Amounts Reclassified | ||||||||||||||||
Details about Accumulated Other | from Accumulated Other | Affected Line Item in the Statement | ||||||||||||||
Comprehensive Income Components | Comprehensive Income | Where Net Income Is Presented | ||||||||||||||
December 31, 2012 | ||||||||||||||||
Unrealized gains and losses on available-for-sale securities | ||||||||||||||||
$ | 865 | Gain on Securities Transactions, Net | ||||||||||||||
865 | Total before tax | |||||||||||||||
(343 | ) | Provision for Income Taxes | ||||||||||||||
$ | 522 | Net of tax | ||||||||||||||
Amortization of defined benefit pension items | ||||||||||||||||
Prior-service costs | 20 | (2) | Salaries and Employee Benefits | |||||||||||||
Actuarial gains/(losses) | $ | (1,677 | ) | (2) | Salaries and Employee Benefits | |||||||||||
(1,657 | ) | Total before tax | ||||||||||||||
656 | Provision for Income Taxes | |||||||||||||||
$ | (1,001 | ) | Net of tax | |||||||||||||
Total reclassifications for the period | $ | (479 | ) | Net of tax | ||||||||||||
(1) Amounts in parentheses indicate debits to profit/loss. | ||||||||||||||||
(2) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see pension footnote for additional details). |
Stock_Based_Compensation
Stock Based Compensation | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | STOCK BASED COMPENSATION (Dollars In Thousands, Except Share and Per Share Amounts) | ||||||||||||||||||
Arrow has established two stock based compensation plans: an Incentive and Non-qualified Stock Option Plan (Stock Option Plan) and an Employee Stock Ownership Plan (ESOP). All share and per share data have been adjusted for the September 2014 2% stock dividend. | |||||||||||||||||||
Stock Option Plan | |||||||||||||||||||
Options may be granted at a price no less than the greater of the par value or fair market value of such shares on the date on which such option is granted, and generally expire ten years from the date of grant. The options usually vest over a four-year period. | |||||||||||||||||||
Roll Forward Schedule of Stock Option Plan by Shares and Weighted Average Exercise Prices | |||||||||||||||||||
Stock Option Plans | |||||||||||||||||||
Roll Forward of Shares Outstanding: | |||||||||||||||||||
Outstanding at January 1, 2014 | 397,177 | ||||||||||||||||||
Granted | 75,518 | ||||||||||||||||||
Exercised | (62,269 | ) | |||||||||||||||||
Forfeited | (8,984 | ) | |||||||||||||||||
Outstanding at December 31, 2014 | 401,442 | ||||||||||||||||||
Exercisable at December 31, 2014 | 266,654 | ||||||||||||||||||
Vested and Expected to Vest | 134,788 | ||||||||||||||||||
Roll Forward of Shares Outstanding - Weighted Average Exercise Price: | |||||||||||||||||||
Outstanding at January 1, 2014 | $ | 22.44 | |||||||||||||||||
Granted | 24.51 | ||||||||||||||||||
Exercised | 23.35 | ||||||||||||||||||
Forfeited | 23.89 | ||||||||||||||||||
Outstanding at December 31, 2014 | 22.66 | ||||||||||||||||||
Exercisable at December 31, 2014 | 21.74 | ||||||||||||||||||
Vested and Expected to Vest | 24.47 | ||||||||||||||||||
Weighted Average Remaining Contractual Life (in years): | |||||||||||||||||||
Outstanding at December 31, 2014 | 5.83 | ||||||||||||||||||
Exercisable at December 31, 2014 | 4.67 | ||||||||||||||||||
Vested and Expected to Vest | 8.13 | ||||||||||||||||||
Aggregate Intrinsic Value: | |||||||||||||||||||
Outstanding at December 31, 2014 | $ | 1,939 | |||||||||||||||||
Exercisable at December 31, 2014 | 1,533 | ||||||||||||||||||
Vested and Expected to Vest | 406 | ||||||||||||||||||
Shares Available for Grant at Period-End | 445,000 | ||||||||||||||||||
Schedule of Shares Authorized Under the Stock Option Plan by Exercise Price Range | |||||||||||||||||||
Exercise Price Ranges | |||||||||||||||||||
$18.71 to $19.48 | $20.82 | $21.83 | $23.30 to $23.95 | $24.51 to $25.27 | Total | ||||||||||||||
Outstanding Options at | |||||||||||||||||||
31-Dec-14 | |||||||||||||||||||
Number of Shares Outstanding | 72,516 | 27,470 | 64,829 | 153,236 | 83,391 | 401,442 | |||||||||||||
Weighted-Average Remaining Contractual Life (in years) | 3.69 | 1.92 | 5.08 | 6.66 | 8.05 | 5.83 | |||||||||||||
Weighted-Average Exercise Price | $ | 19.24 | $ | 20.82 | $ | 21.83 | $ | 23.61 | $ | 24.6 | $ | 22.55 | |||||||
Exercisable Options at | |||||||||||||||||||
31-Dec-14 | |||||||||||||||||||
Number of Shares Outstanding | 72,516 | 27,470 | 64,829 | 92,333 | 9,506 | 266,654 | |||||||||||||
Weighted-Average Remaining Contractual Life (in years) | 3.69 | 1.92 | 5.08 | 6.44 | 8.05 | 4.67 | |||||||||||||
Weighted-Average Exercise Price | $ | 19.24 | $ | 20.82 | $ | 21.83 | $ | 23.56 | $ | 25.27 | $ | 21.74 | |||||||
Schedule of Other Stock Option Plan Information | |||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||
Shares Granted | 75,518 | 10,404 | 78,848 | ||||||||||||||||
Weighted Average Grant Date Information: | |||||||||||||||||||
Fair Value of Options Granted | $ | 5.92 | $ | 5.35 | $ | 5.77 | |||||||||||||
Fair Value Assumptions: | |||||||||||||||||||
Dividend Yield | 3.97 | % | 4.2 | % | 3.93 | % | |||||||||||||
Expected Volatility | 35.3 | % | 36.57 | % | 37.43 | % | |||||||||||||
Risk Free Interest Rate | 2.19 | % | 1.31 | % | 1.22 | % | |||||||||||||
Expected Lives (in years) | 6.85 | 6.71 | 6.46 | ||||||||||||||||
Amount Expensed During the Year | $ | 360 | $ | 372 | $ | 424 | |||||||||||||
Compensation Costs for Non-vested Awards Not Yet Recognized | 478 | 420 | 737 | ||||||||||||||||
Weighted Average Expected Vesting Period, In Years | 1.68 | 1.45 | 1.71 | ||||||||||||||||
Proceeds From Stock Options Exercised | $ | 1,454 | $ | 1,254 | $ | 2,105 | |||||||||||||
Tax Benefits Related to Stock Options Exercised | 25 | 23 | 68 | ||||||||||||||||
Intrinsic Value of Stock Options Exercised | 170 | 267 | 2,434 | ||||||||||||||||
Employee Stock Ownership Plan | |||||||||||||||||||
Arrow maintains an employee stock ownership plan (“ESOP”). Substantially all employees of Arrow and its subsidiaries are eligible to participate upon satisfaction of applicable service requirements. The ESOP borrowed funds from one of Arrow’s subsidiary banks to purchase outstanding shares of Arrow’s common stock. The notes require annual payments of principal and interest through 2018. As the debt is repaid, shares are released from collateral based on the proportion of debt paid to total debt outstanding for the year and allocated to active employees. In addition, the Company makes additional cash contributions to the Plan each year. | |||||||||||||||||||
Schedule of ESOP Compensation Expense | |||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||
ESOP Compensation Expense | $ | 800 | $ | 600 | $ | 550 | |||||||||||||
As the debt is repaid, shares are released from collateral based on the proportion of debt paid to total debt outstanding for the year and allocated to active employees. | |||||||||||||||||||
Shares pledged as collateral are reported as unallocated ESOP shares in stockholders’ equity. As shares are released from collateral, Arrow reports compensation expense equal to the current average market price of the shares, and the shares become outstanding for earnings per share computations. The ESOP shares as of December 31, 2014 were as follows: | |||||||||||||||||||
Schedule of Shares in ESOP Plan | |||||||||||||||||||
ESOP Plan Shares: | 2014 | ||||||||||||||||||
Allocated Shares | 690,853 | ||||||||||||||||||
Shares Released for Allocation During 2013 | 17,300 | ||||||||||||||||||
Unallocated Shares | 71,748 | ||||||||||||||||||
Total ESOP Shares | 779,901 | ||||||||||||||||||
Market Value of Unallocated Shares | $ | 1,972 | |||||||||||||||||
Retirement_Benefit_Plans
Retirement Benefit Plans | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | |||||||||||||||||||||||||
Pension and Other Postretirement Benefits Disclosure [Text Block] | |||||||||||||||||||||||||
: | RETIREMENT BENEFIT PLANS (Dollars in Thousands) | ||||||||||||||||||||||||
Arrow sponsors qualified and nonqualified defined benefit pension plans and other postretirement benefit plans for its employees. Arrow maintains a non-contributory pension plan, which covers substantially all employees. Effective December 1, 2002, all active participants in the qualified defined benefit pension plan were given a one-time irrevocable election to continue participating in the traditional plan design, for which benefits were based on years of service and the participant’s final compensation (as defined), or to begin participating in the new cash balance plan design. All employees who participate in the plan after December 1, 2002 automatically participate in the cash balance plan design. The interest credits under the cash balance plan are based on the 30-year U.S. Treasury rate in effect for November of the prior year. The service credits under the cash balance plan are equal to 6.0% of eligible salaries for employees who become participants on or after January 1, 2003. For employees in the plan prior to January 1, 2003, the service credits are scaled based on the age of the participant, and range from 6.0% to 12.0%. The funding policy is to contribute up to the maximum amount that can be deducted for federal income tax purposes and to make all payments required under ERISA. Arrow also maintains a supplemental non-qualified unfunded retirement plan to provide eligible employees of Arrow and its subsidiaries with benefits in excess of qualified plan limits imposed by federal tax law. | |||||||||||||||||||||||||
Arrow has multiple non-pension postretirement benefit plans. The health care, dental and life insurance plans are contributory, with participants’ contributions adjusted annually. Arrow’s policy is to fund the cost of postretirement benefits based on the current cost of the underlying policies. However, the health care plan provision for automatic increases of Company contributions each year is based on the increase in inflation and is limited to a maximum of 5%. | |||||||||||||||||||||||||
As of December 31, 2014, Arrow updated its mortality assumption to the RP-2014 Mortality Table for annuitants and non-annuitants with projected generational mortality improvements using Scale MP-2014. The revised assumption resulted in an increase in postretirement liabilities. | |||||||||||||||||||||||||
The following tables set forth changes in the plans’ benefit obligations (projected benefit obligation for pension benefits and accumulated benefit obligation for postretirement benefits) and changes in the plans’ assets and the funded status of the pension plans and other postretirement benefit plan at December 31: | |||||||||||||||||||||||||
Schedule of Defined Benefit Plan Disclosures | |||||||||||||||||||||||||
Employees' | Select | Postretirement | |||||||||||||||||||||||
Pension | Executive | Benefit | |||||||||||||||||||||||
Plan | Retirement | Plans | |||||||||||||||||||||||
Plan | |||||||||||||||||||||||||
Defined Benefit Plan Funded Status | |||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Fair Value of Plan Assets | $ | 45,704 | $ | — | $ | — | |||||||||||||||||||
Benefit Obligation | 36,966 | 5,072 | 9,170 | ||||||||||||||||||||||
Funded Status of Plan | $ | 8,738 | $ | (5,072 | ) | $ | (9,170 | ) | |||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Fair Value of Plan Assets | $ | 44,653 | $ | — | $ | — | |||||||||||||||||||
Benefit Obligation | 33,259 | 4,459 | 7,619 | ||||||||||||||||||||||
Funded Status of Plan | $ | 11,394 | $ | (4,459 | ) | $ | (7,619 | ) | |||||||||||||||||
Change in Benefit Obligation | |||||||||||||||||||||||||
Benefit Obligation, at January 1, 2014 | $ | 33,259 | $ | 4,459 | $ | 7,619 | |||||||||||||||||||
Service Cost | 1,410 | 10 | 173 | ||||||||||||||||||||||
Interest Cost | 1,621 | 206 | 374 | ||||||||||||||||||||||
Plan Participants' Contributions | — | — | 383 | ||||||||||||||||||||||
Amendments | — | — | 570 | ||||||||||||||||||||||
Actuarial Gain | 2,909 | 870 | 884 | ||||||||||||||||||||||
Benefits Paid | (2,233 | ) | (473 | ) | (833 | ) | |||||||||||||||||||
Benefit Obligation, at December 31, 2014 | $ | 36,966 | $ | 5,072 | $ | 9,170 | |||||||||||||||||||
Schedule of Defined Benefit Plan Disclosures | |||||||||||||||||||||||||
Employees' | Select | Postretirement | |||||||||||||||||||||||
Pension | Executive | Benefit | |||||||||||||||||||||||
Plan | Retirement | Plans | |||||||||||||||||||||||
Plan | |||||||||||||||||||||||||
Benefit Obligation, at January 1, 2013 | $ | 37,046 | $ | 5,324 | $ | 9,213 | |||||||||||||||||||
Service Cost | 1,506 | — | 211 | ||||||||||||||||||||||
Interest Cost | 1,261 | 163 | 308 | ||||||||||||||||||||||
Plan Participants' Contributions | — | — | 368 | ||||||||||||||||||||||
Amendments | — | — | — | ||||||||||||||||||||||
Actuarial Loss | (3,820 | ) | (555 | ) | (1,648 | ) | |||||||||||||||||||
Benefits Paid | (2,734 | ) | (473 | ) | (833 | ) | |||||||||||||||||||
Benefit Obligation, at December 31, 2013 | $ | 33,259 | $ | 4,459 | $ | 7,619 | |||||||||||||||||||
Change in Fair Value of Plan Assets | |||||||||||||||||||||||||
Fair Value of Plan Assets, at January 1, 2014 | $ | 44,653 | $ | — | $ | — | |||||||||||||||||||
Actual Return on Plan Assets | 3,284 | — | — | ||||||||||||||||||||||
Employer Contributions | — | 473 | 450 | ||||||||||||||||||||||
Plan Participants' Contributions | — | — | 383 | ||||||||||||||||||||||
Benefits Paid | (2,233 | ) | (473 | ) | (833 | ) | |||||||||||||||||||
Fair Value of Plan Assets, at December 31, 2014 | $ | 45,704 | $ | — | $ | — | |||||||||||||||||||
Change in Fair Value of Plan Assets, continued | |||||||||||||||||||||||||
Fair Value of Plan Assets, at January 1, 2013 | $ | 39,880 | $ | — | $ | — | |||||||||||||||||||
Actual Return on Plan Assets | 7,507 | — | — | ||||||||||||||||||||||
Employer Contributions | — | 473 | 465 | ||||||||||||||||||||||
Plan Participants' Contributions | — | — | 368 | ||||||||||||||||||||||
Benefits Paid | (2,734 | ) | (473 | ) | (833 | ) | |||||||||||||||||||
Fair Value of Plan Assets, at December 31, 2013 | $ | 44,653 | $ | — | $ | — | |||||||||||||||||||
Accumulated Benefit Obligation at December 31, 2014 | $ | 36,530 | $ | 5,072 | $ | 9,170 | |||||||||||||||||||
Amounts Recognized in the Consolidated Balance Sheets | |||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Prepaid Pension Asset | $ | 8,738 | $ | — | — | ||||||||||||||||||||
Accrued Benefit Liability | — | (5,072 | ) | (9,170 | ) | ||||||||||||||||||||
Net Benefit Recognized | $ | 8,738 | $ | (5,072 | ) | $ | (9,170 | ) | |||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Prepaid Pension Asset | $ | 11,394 | $ | — | — | ||||||||||||||||||||
Accrued Benefit Liability | — | (4,459 | ) | (7,619 | ) | ||||||||||||||||||||
Net Benefit Recognized | $ | 11,394 | $ | (4,459 | ) | $ | (7,619 | ) | |||||||||||||||||
Amounts Recognized in Other Comprehensive Income (Loss) | |||||||||||||||||||||||||
For the Year Ended December 31, 2014 | |||||||||||||||||||||||||
Net Unamortized Gain Arising During the Period | $ | 2,855 | $ | 871 | $ | 884 | |||||||||||||||||||
Net Prior Service Cost Arising During the Period | — | — | 570 | ||||||||||||||||||||||
Amortization of Net Loss | (356 | ) | (93 | ) | (25 | ) | |||||||||||||||||||
Amortization of Prior Service (Cost) Credit | 45 | (72 | ) | 114 | |||||||||||||||||||||
Total Other Comprehensive (Loss) Income for Pension and | $ | 2,544 | $ | 706 | $ | 1,543 | |||||||||||||||||||
Other Postretirement Benefit Plans | |||||||||||||||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||||||
Net Unamortized Loss Arising During the Period | $ | (8,438 | ) | $ | (554 | ) | $ | (1,648 | ) | ||||||||||||||||
Net Prior Service Cost Arising During the Period | — | — | — | ||||||||||||||||||||||
Amortization of Net Loss | (1,231 | ) | (140 | ) | (142 | ) | |||||||||||||||||||
Amortization of Prior Service (Cost) Credit | (37 | ) | (79 | ) | 114 | ||||||||||||||||||||
Total Other Comprehensive (Loss) Income for Pension and | $ | (9,706 | ) | $ | (773 | ) | $ | (1,676 | ) | ||||||||||||||||
Other Postretirement Benefit Plans | |||||||||||||||||||||||||
Schedule of Defined Benefit Plan Disclosures | |||||||||||||||||||||||||
Employees' | Select | Postretirement | |||||||||||||||||||||||
Pension | Executive | Benefit | |||||||||||||||||||||||
Plan | Retirement | Plans | |||||||||||||||||||||||
Plan | |||||||||||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||||||
Net Unamortized Loss Arising During the Period | $ | 1,286 | $ | 441 | $ | 491 | |||||||||||||||||||
Net Prior Service Cost Arising During the Period | — | 405 | — | ||||||||||||||||||||||
Amortization of Net Loss | (1,387 | ) | (156 | ) | (134 | ) | |||||||||||||||||||
Amortization of Prior Service (Cost) Credit | (41 | ) | (53 | ) | 114 | ||||||||||||||||||||
Total Other Comprehensive (Loss) Income for Pension and | $ | (142 | ) | $ | 637 | $ | 471 | ||||||||||||||||||
Other Postretirement Benefit Plans | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income | |||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Net Actuarial Loss | $ | 10,856 | $ | 2,452 | $ | 1,919 | |||||||||||||||||||
Prior Service (Credit) Cost | (210 | ) | 570 | 379 | |||||||||||||||||||||
Total Accumulated Other Comprehensive Income, Before Tax | $ | 10,646 | $ | 3,022 | $ | 2,298 | |||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Net Actuarial Loss | $ | 8,357 | $ | 1,674 | $ | 1,060 | |||||||||||||||||||
Prior Service (Credit) Cost | (255 | ) | 642 | (305 | ) | ||||||||||||||||||||
Total Accumulated Other Comprehensive Income, Before Tax | $ | 8,102 | $ | 2,316 | $ | 755 | |||||||||||||||||||
Amounts that will be Amortized from Accumulated | |||||||||||||||||||||||||
Other Comprehensive Income the Next Year | |||||||||||||||||||||||||
Net Actuarial Loss | $ | 556 | $ | 121 | $ | 95 | |||||||||||||||||||
Prior Service (Credit) Cost | $ | (83 | ) | $ | 58 | $ | (31 | ) | |||||||||||||||||
Net Periodic Benefit Cost | |||||||||||||||||||||||||
For the Year Ended December 31, 2014 | |||||||||||||||||||||||||
Service Cost | $ | 1,410 | $ | 10 | $ | 173 | |||||||||||||||||||
Interest Cost | 1,621 | 206 | 374 | ||||||||||||||||||||||
Expected Return on Plan Assets | (3,230 | ) | — | — | |||||||||||||||||||||
Amortization of Prior Service (Credit) Cost | (45 | ) | 72 | (114 | ) | ||||||||||||||||||||
Amortization of Net Loss | 356 | 93 | 25 | ||||||||||||||||||||||
Net Periodic Benefit Cost | $ | 112 | $ | 381 | $ | 458 | |||||||||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||||||
Service Cost | $ | 1,506 | $ | — | $ | 211 | |||||||||||||||||||
Interest Cost | 1,261 | 163 | 308 | ||||||||||||||||||||||
Expected Return on Plan Assets | (2,889 | ) | — | — | |||||||||||||||||||||
Amortization of Prior Service (Credit) Cost | 37 | 79 | (114 | ) | |||||||||||||||||||||
Amortization of Net Loss | 1,232 | 139 | 142 | ||||||||||||||||||||||
Net Periodic Benefit Cost | $ | 1,147 | $ | 381 | $ | 547 | |||||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||||||
Service Cost | $ | 1,467 | $ | 87 | $ | 202 | |||||||||||||||||||
Interest Cost | 1,436 | 190 | 338 | ||||||||||||||||||||||
Expected Return on Plan Assets | (2,865 | ) | — | — | |||||||||||||||||||||
Amortization of Prior Service (Credit) Cost | 41 | 53 | (114 | ) | |||||||||||||||||||||
Amortization of Net Loss | 1,387 | 156 | 134 | ||||||||||||||||||||||
Net Periodic Benefit Cost | $ | 1,466 | $ | 486 | $ | 560 | |||||||||||||||||||
Weighted-Average Assumptions Used in | |||||||||||||||||||||||||
Calculating Benefit Obligation | |||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Discount Rate | 4.31 | % | 4.26 | % | 4.31 | % | |||||||||||||||||||
Rate of Compensation Increase | 3.5 | % | 3.5 | % | 3.5 | % | |||||||||||||||||||
Schedule of Defined Benefit Plan Disclosures | |||||||||||||||||||||||||
Employees' | Select | Postretirement | |||||||||||||||||||||||
Pension | Executive | Benefit | |||||||||||||||||||||||
Plan | Retirement | Plans | |||||||||||||||||||||||
Plan | |||||||||||||||||||||||||
Interest Rate Credit for Determining | 3.04 | % | |||||||||||||||||||||||
Projected Cash Balance Account | |||||||||||||||||||||||||
Interest Rate to Annuitize Cash | 4.75 | % | |||||||||||||||||||||||
Balance Account | |||||||||||||||||||||||||
Interest Rate to Convert Annuities to Actuarially | 4.75 | % | 4.75 | % | |||||||||||||||||||||
Equivalent Lump Sum Amounts | |||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Discount Rate | 5.1 | % | 4.85 | % | 5.1 | % | |||||||||||||||||||
Rate of Compensation Increase | 3.5 | % | 3.5 | % | 3.5 | % | |||||||||||||||||||
Interest Rate Credit for Determining | 4 | % | |||||||||||||||||||||||
Projected Cash Balance Account | |||||||||||||||||||||||||
Interest Rate to Annuitize Cash | 5.25 | % | |||||||||||||||||||||||
Balance Account | |||||||||||||||||||||||||
Interest Rate to Convert Annuities to Actuarially | 5.25 | % | 5.25 | % | |||||||||||||||||||||
Equivalent Lump Sum Amounts | |||||||||||||||||||||||||
Weighted-Average Assumptions Used in | |||||||||||||||||||||||||
Calculating Net Periodic Benefit Cost | |||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Discount Rate | 5.1 | % | 4.85 | % | 5.1 | % | |||||||||||||||||||
Expected Long-Term Return on Plan Assets | 7.5 | % | |||||||||||||||||||||||
Rate of Compensation Increase | 3.5 | % | 3.5 | % | 3.5 | % | |||||||||||||||||||
Interest Rate Credit for Determining | 4 | % | |||||||||||||||||||||||
Projected Cash Balance Account | |||||||||||||||||||||||||
Interest Rate to Annuitize Cash | 5.25 | % | |||||||||||||||||||||||
Balance Account | |||||||||||||||||||||||||
Interest Rate to Convert Annuities to Actuarially | 5.25 | % | 5.25 | % | |||||||||||||||||||||
Equivalent Lump Sum Amounts | |||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Discount Rate | 3.55 | % | 3.15 | % | 3.55 | % | |||||||||||||||||||
Expected Long-Term Return on Plan Assets | 7.5 | % | |||||||||||||||||||||||
Rate of Compensation Increase | 3.5 | % | 3.5 | % | 3.5 | % | |||||||||||||||||||
Interest Rate Credit for Determining | 3 | % | |||||||||||||||||||||||
Projected Cash Balance Account | |||||||||||||||||||||||||
Interest Rate to Annuitize Cash | 4.5 | % | |||||||||||||||||||||||
Balance Account | |||||||||||||||||||||||||
Interest Rate to Convert Annuities to Actuarially | 4.5 | % | 4.5 | % | |||||||||||||||||||||
Equivalent Lump Sum Amounts | |||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||
Discount Rate | 4.05 | % | 4.05 | % | 4.05 | % | |||||||||||||||||||
Expected Long-Term Return on Plan Assets | 7.5 | % | |||||||||||||||||||||||
Rate of Compensation Increase | 3.5 | % | 3.5 | % | 3.5 | % | |||||||||||||||||||
Interest Rate Credit for Determining | 3.25 | % | |||||||||||||||||||||||
Projected Cash Balance Account | |||||||||||||||||||||||||
Interest Rate to Annuitize Cash | 5 | % | |||||||||||||||||||||||
Balance Account | |||||||||||||||||||||||||
Interest Rate to Convert Annuities to Actuarially | 5 | % | 5 | % | |||||||||||||||||||||
Equivalent Lump Sum Amounts | |||||||||||||||||||||||||
Schedule of Defined Benefit Plan Disclosures | |||||||||||||||||||||||||
Information about Defined Benefit Plan Assets - Employees' Pension Plan | |||||||||||||||||||||||||
Fair Value Measurements Using: | |||||||||||||||||||||||||
Asset Category | Quoted Prices | Significant Other Observable Inputs | Significant Unobservable Inputs | Total | Percent of Total | Target Allocation Minimum | Target Allocation Maximum | ||||||||||||||||||
in Active Markets | (Level 2) | (Level 3) | |||||||||||||||||||||||
for Identical Assets | |||||||||||||||||||||||||
(Level 1) | |||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Cash | $ | 20 | $ | — | $ | — | $ | 20 | — | % | — | % | 15 | % | |||||||||||
Interest-Bearing Money Market Fund | 4,322 | — | — | 4,322 | 9.5 | % | — | % | 15 | % | |||||||||||||||
Arrow Common Stock1 | 4,551 | — | — | 4,551 | 10 | % | — | % | 10 | % | |||||||||||||||
North Country Funds - Equity 2 | 18,975 | — | — | 18,975 | 41.4 | % | |||||||||||||||||||
Other Mutual Funds - Equity | 10,954 | — | — | 10,954 | 24 | % | |||||||||||||||||||
Total Equity Funds | 29,929 | — | — | 29,929 | 65.4 | % | 66 | % | 85 | % | |||||||||||||||
North Country Funds - Fixed income 2 | 5,436 | — | — | 5,436 | 11.9 | % | |||||||||||||||||||
Other Mutual Funds - Fixed Income | 1,446 | — | — | 1,446 | 3.2 | % | |||||||||||||||||||
Total Fixed Income Funds | 6,882 | — | — | 6,882 | 15.1 | % | 15 | % | 30 | % | |||||||||||||||
Total | $ | 45,704 | $ | — | $ | — | $ | 45,704 | 100 | % | |||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Cash | $ | 7 | $ | — | $ | — | $ | 7 | — | % | — | % | 15 | % | |||||||||||
Interest-Bearing Money Market Fund | 3,941 | — | — | 3,941 | 8.8 | % | — | % | 15 | % | |||||||||||||||
Arrow Common Stock1 | 4,291 | — | — | 4,291 | 9.6 | % | — | % | 10 | % | |||||||||||||||
North Country Funds - Equity 2 | 17,419 | — | — | 17,419 | 39.1 | % | |||||||||||||||||||
Other Mutual Funds - Equity | 14,338 | — | — | 14,338 | 32.1 | % | |||||||||||||||||||
Total Equity Funds | 31,757 | — | — | 31,757 | 71.2 | % | 55 | % | 85 | % | |||||||||||||||
North Country Funds - Fixed income 2 | 4,309 | — | — | 4,309 | 9.6 | % | |||||||||||||||||||
Other Mutual Funds - Fixed Income | 348 | — | — | 348 | 0.8 | % | |||||||||||||||||||
Total Fixed Income Funds | 4,657 | — | — | 4,657 | 10.4 | % | 10 | % | 30 | % | |||||||||||||||
Total | $ | 44,653 | $ | — | $ | — | $ | 44,653 | 100 | % | |||||||||||||||
1 Acquisition of Arrow Financial Corporation common stock was under 10% of the total fair value of the employee's pension plan assets at the time of acquisition. | |||||||||||||||||||||||||
2 The North Country Funds - Equity and the North Country Funds - Fixed Income are publicly traded mutual funds advised by Arrow's subsidiary, North Country Investment Advisers, Inc. | |||||||||||||||||||||||||
Schedule of Defined Benefit Plan Disclosures | |||||||||||||||||||||||||
Employees' | Select | Postretirement | |||||||||||||||||||||||
Pension | Executive | Benefit | |||||||||||||||||||||||
Plan | Retirement | Plans | |||||||||||||||||||||||
Plan | |||||||||||||||||||||||||
Expected Future Benefit Payments | |||||||||||||||||||||||||
2015 | $ | 2,163 | $ | 438 | $ | 536 | |||||||||||||||||||
2016 | 2,334 | 429 | 554 | ||||||||||||||||||||||
2017 | 2,356 | 419 | 565 | ||||||||||||||||||||||
2018 | 2,253 | 409 | 584 | ||||||||||||||||||||||
2019 | 2,256 | 399 | 615 | ||||||||||||||||||||||
2020 - 2024 | 12,799 | 1,826 | 3,323 | ||||||||||||||||||||||
Estimated Contributions During 2015 | $ | — | $ | 438 | $ | 536 | |||||||||||||||||||
Assumed Health Care Cost Trend Rates | |||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Health Care Cost Trend | 8 | % | |||||||||||||||||||||||
Rate Assumed for Next Year | |||||||||||||||||||||||||
Rate to which the Cost Trend | 3.89 | % | |||||||||||||||||||||||
Rate is Assumed to Decline | |||||||||||||||||||||||||
(the Ultimate Trend Rate) | |||||||||||||||||||||||||
Year that the Rate Reaches | 2075 | ||||||||||||||||||||||||
the Ultimate Trend Rate | |||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Health Care Cost Trend | 8.5 | % | |||||||||||||||||||||||
Rate Assumed for Next Year | |||||||||||||||||||||||||
Rate to which the Cost Trend | 5 | % | |||||||||||||||||||||||
Rate is Assumed to Decline | |||||||||||||||||||||||||
(the Ultimate Trend Rate) | |||||||||||||||||||||||||
Year that the Rate Reaches | 2021 | ||||||||||||||||||||||||
the Ultimate Trend Rate | |||||||||||||||||||||||||
Effect of a One-Percentage Point Change in Assumed | |||||||||||||||||||||||||
Health Care Cost Trend Rates | |||||||||||||||||||||||||
Effect of a One Percentage Point Increase on | $ | 60 | |||||||||||||||||||||||
Service and Interest Cost Components | |||||||||||||||||||||||||
Effect of a One Percentage Point Decrease on | (49 | ) | |||||||||||||||||||||||
Service and Interest Cost Components | |||||||||||||||||||||||||
Effect of a One Percentage Point Increase on | 782 | ||||||||||||||||||||||||
Accumulated Postretirement Benefit Obligation | |||||||||||||||||||||||||
Effect of a One Percentage Point Decrease on | (664 | ) | |||||||||||||||||||||||
Accumulated Postretirement Benefit Obligation | |||||||||||||||||||||||||
Fair Value of Plan Assets (Defined Benefit Plan): | |||||||||||||||||||||||||
For information on fair value measurements, including descriptions of level 1, 2 and 3 of the fair value hierarchy and the valuation methods employed by Arrow, see Note 2 - “Summary of Significant Accounting Policies” and Note 17 - “Fair Values.” | |||||||||||||||||||||||||
The fair value of level 1 financial instruments in the table above are based on unadjusted, quoted market prices from exchanges in active markets. | |||||||||||||||||||||||||
In accordance with ERISA guidelines, the Board authorized the purchase of Arrow common stock up to 10% of the fair market value of the plan's assets at the time of acquisition. | |||||||||||||||||||||||||
Pension Plan Investment Policies and Strategies: | |||||||||||||||||||||||||
The Company maintains a non-contributory pension benefit plan covering substantially all employees for the purpose of rewarding long and loyal service to the Company. The pension assets are held in trust and are invested in a prudent manner for the exclusive purpose of providing benefits to participants. The investment objective is to achieve an inflation-protected rate of return that meets the actuarial assumption which is used for funding purposes. The investment strategy attempts to maximize the investment return on assets at a level of risk deemed appropriate by the Company while complying with ERISA and any applicable regulations and laws. The investment strategy utilizes asset allocation as a principal determinant for establishing the risk/reward profile of the assets. Asset allocation ranges are established, periodically reviewed, and adjusted as funding levels, and participant benefit characteristics change. Active and passive investment management is employed to help enhance the risk/return profile of the assets. | |||||||||||||||||||||||||
The Plan’s assets are invested in a diversified portfolio of equity securities comprised of companies with small, mid, and large capitalizations. Both domestic and international equities are allowed to provide further diversification and opportunity for return in potentially higher growth economies with lower correlation of returns. Growth and value styles of investment are employed to increase the diversification and offer varying opportunities for appreciation. The fixed income portion of the plan may be invested in U.S. dollar denominated debt securities that shall be rated within the top four ratings categories by nationally recognized ratings agencies. The fixed income portion will be invested without regard to industry or sector based on analysis of each target security’s structural and repayment features, current pricing and trading opportunities as well as credit quality of the issuer. Individual bonds with ratings that fall below the Plan’s rating requirements will be sold only when it is in the best interests of the Plan. Hybrid investments, such as convertible bonds, may be used to provide growth characteristics while offering some protection to declining equity markets by having a fixed income component. Alternative investments such as Treasury Inflation Protected Securities, commodities, and REITs may be used to further enhance diversification while offering opportunities for return. In accordance with ERISA guidelines, common stock of the Company may be purchased up to 10% of the fair market value of the Plan’s assets at the time of acquisition. Derivative investments are prohibited in the plan. | |||||||||||||||||||||||||
The return on assets assumption was developed through review of historical market returns, historical asset class volatility and correlations, current market conditions, the Plan’s past experience, and expectations on potential future market returns. The assumption represents a long-term average view of the performance of the assets in the Plan, a return that may or may not be achieved during any one calendar year. The assumption is based on the return of the Plan using the historical 15 year return adjusted for the potential for lower than historical returns due to low interest rates, and an expected modest recovery in global economic growth as a result of the deep recession. | |||||||||||||||||||||||||
Cash Flows - We were not required to make any contribution to our qualified pension plan in 2014. Arrow makes contributions for its postretirement benefits in an amount equal to actual expenses for the year. |
Other_Expenses
Other Expenses | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Other Income and Expenses [Abstract] | ||||||||||||
Schedule of Other Operating Cost and Expense, by Component [Table Text Block] | OTHER EXPENSES (Dollars In Thousands) | |||||||||||
Other operating expenses included in the consolidated statements of income are as follows: | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Computer Services | $ | 3,659 | $ | 3,261 | $ | 2,263 | ||||||
Legal and Other Professional Fees | 1,836 | 1,823 | 1,962 | |||||||||
Postage and Courier | 1,084 | 1,046 | 1,040 | |||||||||
Stationery and Printing | 851 | 905 | 975 | |||||||||
Advertising and Promotion | 886 | 879 | 831 | |||||||||
Telephone and Communications | 746 | 804 | 808 | |||||||||
Intangible Asset Amortization | 387 | 452 | 518 | |||||||||
All Other | 3,531 | 3,486 | 3,243 | |||||||||
Total Other Operating Expense | $ | 12,980 | $ | 12,656 | $ | 11,640 | ||||||
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||
Income Tax Disclosure [Text Block] | INCOME TAXES (Dollars In Thousands) | |||||||||||
The provision for income taxes is summarized below: | ||||||||||||
Current Tax Expense: | 2014 | 2013 | 2012 | |||||||||
Federal | $ | 9,270 | $ | 7,933 | $ | 8,763 | ||||||
State | 1,203 | 852 | 1,251 | |||||||||
Total Current Tax Expense | 10,473 | 8,785 | 10,014 | |||||||||
Deferred Tax Expense (Benefit): | ||||||||||||
Federal | (315 | ) | 172 | (290 | ) | |||||||
State | 16 | 122 | (63 | ) | ||||||||
Total Deferred Tax Expense (Benefit) | (299 | ) | 294 | (353 | ) | |||||||
Total Provision for Income Taxes | $ | 10,174 | $ | 9,079 | $ | 9,661 | ||||||
The provisions for income taxes differed from the amounts computed by applying the U.S. Federal Income Tax Rate of 35% for 2014, 2013 and 2012 to pre-tax income as a result of the following: | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Computed Tax Expense at Statutory Rate | $ | 11,737 | $ | 10,806 | $ | 11,144 | ||||||
Increase (Decrease) in Income Taxes Resulting From: | ||||||||||||
Tax-Exempt Income | (2,215 | ) | (2,238 | ) | (2,132 | ) | ||||||
Nondeductible Interest Expense | 51 | 80 | 95 | |||||||||
State Taxes, Net of Federal Income Tax Benefit | 791 | 633 | 814 | |||||||||
Other Items, Net | (190 | ) | (202 | ) | (260 | ) | ||||||
Total Provision for Income Taxes | $ | 10,174 | $ | 9,079 | $ | 9,661 | ||||||
The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2014 and 2013 are presented below: | ||||||||||||
2014 | 2013 | |||||||||||
Deferred Tax Assets: | ||||||||||||
Allowance for Loan Losses | $ | 6,113 | $ | 5,794 | ||||||||
Pension and Deferred Compensation Plans | 3,885 | 3,999 | ||||||||||
Pension Liability Included in Accumulated Other Comprehensive Income | 6,263 | 4,426 | ||||||||||
Other | 614 | 566 | ||||||||||
Total Gross Deferred Tax Assets | 16,875 | 14,785 | ||||||||||
Valuation Allowance for Deferred Tax Assets | — | — | ||||||||||
Total Gross Deferred Tax Assets, Net of Valuation Allowance | $ | 16,875 | $ | 14,785 | ||||||||
Deferred Tax Liabilities: | ||||||||||||
Pension Plans | $ | 7,604 | $ | 7,724 | ||||||||
Depreciation | 1,222 | 1,561 | ||||||||||
Deferred Income | 3,927 | 3,526 | ||||||||||
Net Unrealized Gains on Securities Available-for-Sale Included in | 1,638 | 1,557 | ||||||||||
Accumulated Other Comprehensive Income | ||||||||||||
Goodwill | 5,242 | 5,230 | ||||||||||
Total Gross Deferred Tax Liabilities | $ | 19,633 | $ | 19,598 | ||||||||
Management believes that the realization of the recognized net deferred tax assets at December 31, 2014 and 2013 is more likely than not, based on existing loss carryback ability, available tax planning strategies and expectations as to future taxable income. | ||||||||||||
Interest and penalties are recorded as a component of the provision for income taxes, if any. Tax years 2011 through 2014 are subject to Federal examination. Tax years 2013 and 2014 are subject to New York State examination. Tax years 2010 to 2012 are currently under New York State examination. We do not expect any material changes to our provisions for state taxes for those years as a result of the examination. |
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ||||||||||||
Earnings Per Share [Text Block] | EARNINGS PER SHARE (In Thousands, Except Per Share Amounts) | |||||||||||
The following table presents a reconciliation of the numerator and denominator used in the calculation of basic and diluted earnings per common share ("EPS") for each of the years in the three-year period ended December 31, 2014. All share and per share amounts have been adjusted for the 2014 2% stock dividend. | ||||||||||||
Earnings Per Share | ||||||||||||
Year-to-Date Period Ended: | ||||||||||||
12/31/14 | 12/31/13 | 12/31/12 | ||||||||||
Earnings Per Share - Basic: | ||||||||||||
Net Income | $ | 23,360 | $ | 21,795 | $ | 22,179 | ||||||
Weighted Average Shares - Basic | 12,604 | 12,542 | 12,492 | |||||||||
Earnings Per Share - Basic | $ | 1.85 | $ | 1.74 | $ | 1.78 | ||||||
Earnings Per Share - Diluted: | ||||||||||||
Net Income | $ | 23,360 | $ | 21,795 | $ | 22,179 | ||||||
Weighted Average Shares - Basic | 12,604 | 12,542 | 12,492 | |||||||||
Dilutive Average Shares Attributable to Stock Options | 29 | 31 | 10 | |||||||||
Weighted Average Shares - Diluted | 12,633 | 12,573 | 12,502 | |||||||||
Earnings Per Share - Diluted | $ | 1.85 | $ | 1.73 | $ | 1.77 | ||||||
Antidilutive Shares Excluded from the Calculation | — | 47 | 203 | |||||||||
of Earnings Per Share |
Fair_Values
Fair Values | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||
Fair Value Disclosures [Text Block] | FAIR VALUES (Dollars In Thousands) | |||||||||||||||||||
FASB ASC Subtopic 820-10 defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles (GAAP) and requires certain disclosures about fair value measurements. We do not have any nonfinancial assets or liabilities measured at fair value on a recurring basis. The only assets or liabilities that Arrow measured at fair value on a recurring basis at December 31, 2014 and 2013 were securities available-for-sale. Arrow held no securities or liabilities for trading on such date. For information on fair value measurements, including descriptions of level 1, 2 and 3 of the fair value hierarchy and the valuation methods employed by Arrow, see Note 2 - “Summary of Significant Accounting Policies.” | ||||||||||||||||||||
The table below presents the financial instrument's fair value and the amounts within the fair value hierarchy based on the lowest level of input that is significant to the fair value measurement: | ||||||||||||||||||||
Fair Value of Assets and Liabilities Measured on a Recurring and Nonrecurring Basis | ||||||||||||||||||||
Fair Value Measurements at Reporting Date Using: | ||||||||||||||||||||
Fair Value of Assets and Liabilities Measured on a Recurring Basis: | Fair Value | Quoted Prices | Significant Other | Significant Unobservable Inputs | Total Gains (Losses) | |||||||||||||||
In Active Markets for Identical Assets | Observable Inputs | (Level 3) | ||||||||||||||||||
(Level 1) | (Level 2) | |||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||
Securities Available-for Sale: | ||||||||||||||||||||
U.S. Agency Obligations | $ | 137,603 | $ | — | $ | 137,603 | $ | — | ||||||||||||
State and Municipal Obligations | 81,730 | — | 81,730 | — | ||||||||||||||||
Mortgage-Backed Securities - Residential | 128,827 | — | 128,827 | — | ||||||||||||||||
Corporate and Other Debt Securities | 16,725 | — | 16,725 | — | ||||||||||||||||
Mutual Funds and Equity Securities | 1,254 | — | 1,254 | — | ||||||||||||||||
Total Securities Available-for-Sale | $ | 366,139 | $ | — | $ | 366,139 | $ | — | ||||||||||||
December 31, 2013 | ||||||||||||||||||||
Securities Available-for Sale: | ||||||||||||||||||||
U.S. Agency Obligations | $ | 136,475 | $ | — | $ | 136,475 | $ | — | ||||||||||||
State and Municipal Obligations | 127,389 | — | 127,389 | — | ||||||||||||||||
Mortgage-Backed Securities - Residential | 175,778 | — | 175,778 | — | ||||||||||||||||
Corporate and Other Debt Securities | 16,798 | — | 16,798 | — | ||||||||||||||||
Mutual Funds and Equity Securities | 1,166 | — | 1,166 | — | ||||||||||||||||
Total Securities Available-for Sale | $ | 457,606 | $ | — | $ | 457,606 | $ | — | ||||||||||||
Fair Value of Assets and Liabilities Measured on a Nonrecurring Basis: | ||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||
Collateral Dependent Impaired Loans | $ | 574 | $ | — | $ | — | $ | 574 | $ | (109 | ) | |||||||||
Other Real Estate Owned and Repossessed Assets, Net | $ | 393 | $ | — | $ | — | $ | 393 | $ | (15 | ) | |||||||||
December 31, 2013 | ||||||||||||||||||||
Other Real Estate Owned and Repossessed Assets, Net | $ | 144 | $ | — | $ | — | $ | 144 | $ | (79 | ) | |||||||||
We determine the fair value of financial instruments under the following hierarchy: | ||||||||||||||||||||
• | Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; | |||||||||||||||||||
• | Level 2 - Quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; | |||||||||||||||||||
• | Level 3 - Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). | |||||||||||||||||||
Fair Value Methodology for Assets and Liabilities Measured on a Recurring Basis | ||||||||||||||||||||
The fair value of level 1 securities available-for-sale are based on unadjusted, quoted market prices from exchanges in active markets. The fair value of level 2 securities available-for-sale are based on an independent bond and equity pricing service for identical assets or significantly similar securities and an independent equity pricing service for equity securities not actively traded. The pricing services use a variety of techniques to arrive at fair value including market maker bids, quotes and pricing models. Inputs to the pricing models include recent trades, benchmark interest rates, spreads and actual and projected cash flows. | ||||||||||||||||||||
Fair Value Methodology for Assets and Liabilities Measured on a Nonrecurring Basis | ||||||||||||||||||||
The fair value of collateral dependent impaired loans and other real estate owned was based on third-party appraisals. The appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. | ||||||||||||||||||||
Other assets which might have been included in this table include mortgage servicing rights, goodwill and other intangible assets. Arrow evaluates each of these assets for impairment on an annual basis, with no impairment recognized for these assets at December 31, 2014 and December 31, 2013. | ||||||||||||||||||||
Fair Value by Balance Sheet Grouping | ||||||||||||||||||||
The following table presents a summary of the carrying amount, the fair value or an amount approximating fair value and the fair value hierarchy of Arrow’s financial instruments: | ||||||||||||||||||||
Schedule of Fair Values by Balance Sheet Grouping | ||||||||||||||||||||
Fair Value Hierarchy | ||||||||||||||||||||
Carrying | Fair | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Amount | Value | |||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||
Cash and Cash Equivalents | $ | 46,295 | $ | 46,295 | $ | 46,295 | $ | — | $ | — | ||||||||||
Securities Available-for-Sale | 366,139 | 366,139 | — | 366,139 | — | |||||||||||||||
Securities Held-to-Maturity | 302,024 | 308,566 | — | 308,566 | — | |||||||||||||||
Federal Home Loan Bank and Federal Reserve Bank Stock | 4,851 | 4,851 | 4,851 | — | — | |||||||||||||||
Net Loans | 1,397,698 | 1,405,454 | — | — | 1,405,454 | |||||||||||||||
Accrued Interest Receivable | 5,834 | 5,834 | 5,834 | — | — | |||||||||||||||
Deposits | 1,902,948 | 1,899,682 | 1,697,105 | 202,577 | — | |||||||||||||||
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase | 19,421 | 19,421 | 19,421 | — | — | |||||||||||||||
Federal Home Loan Bank Term Advances | 51,000 | 51,258 | 41,000 | 10,258 | — | |||||||||||||||
Junior Subordinated Obligations Issued | 20,000 | 20,000 | — | 20,000 | — | |||||||||||||||
to Unconsolidated Subsidiary Trusts | ||||||||||||||||||||
Accrued Interest Payable | 274 | 274 | 274 | — | — | |||||||||||||||
December 31, 2013 | ||||||||||||||||||||
Cash and Cash Equivalents | $ | 49,980 | $ | 49,980 | $ | 49,980 | $ | — | $ | — | ||||||||||
Securities Available-for-Sale | 457,606 | 457,606 | — | 457,606 | — | |||||||||||||||
Securities Held-to-Maturity | 299,261 | 302,305 | — | 302,305 | — | |||||||||||||||
Federal Home Loan Bank and Federal Reserve Bank Stock | 6,281 | 6,281 | 6,281 | — | — | |||||||||||||||
Net Loans | 1,252,038 | 1,266,020 | — | — | 1,266,020 | |||||||||||||||
Accrued Interest Receivable | 5,745 | 5,745 | 5,745 | — | — | |||||||||||||||
Deposits | 1,842,330 | 1,839,613 | 1,595,103 | 244,510 | — | |||||||||||||||
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase | 11,777 | 11,777 | 11,777 | — | — | |||||||||||||||
Federal Home Loan Bank Term Advances | 73,000 | 74,629 | 53,000 | 21,629 | — | |||||||||||||||
Junior Subordinated Obligations Issued | 20,000 | 20,000 | — | 20,000 | — | |||||||||||||||
to Unconsolidated Subsidiary Trusts | ||||||||||||||||||||
Accrued Interest Payable | 439 | 439 | 439 | — | — | |||||||||||||||
Fair Value Methodology for Financial Instruments Not Measured on a Recurring or Nonrecurring Basis | ||||||||||||||||||||
Securities held-to-maturity are fair valued utilizing an independent bond pricing service for identical assets or significantly similar securities. The pricing service uses a variety of techniques to arrive at fair value including market maker bids, quotes and pricing models. Inputs to the pricing models include recent trades, benchmark interest rates, spreads and actual and projected cash flows. | ||||||||||||||||||||
Fair values for loans are estimated for portfolios of loans with similar financial characteristics. Loans are segregated by type such as commercial, commercial real estate, residential mortgage, indirect and other consumer loans. Each loan category is further segmented into fixed and adjustable interest rate terms and by performing and nonperforming categories. The fair value methodology does not use an exit price methodology. The fair value of performing loans is calculated by discounting scheduled cash flows through the estimated maturity using estimated market discount rates that reflect the credit and interest rate risk inherent in the loan. The estimate of maturity is based on historical experience with repayments for each loan classification, modified, as required, by an estimate of the effect of current economic and lending conditions. Fair value for nonperforming loans is generally based on recent external appraisals. If appraisals are not available, estimated cash flows are discounted using a rate commensurate with the risk associated with the estimated cash flows. Assumptions regarding credit risk, cash flows and discount rates are judgmentally determined using available market information and specific borrower information. | ||||||||||||||||||||
The fair value of time deposits is based on the discounted value of contractual cash flows, except that the fair value is limited to the extent that the customer could redeem the certificate after imposition of a premature withdrawal penalty. The discount rates are estimated using the FHLBNY yield curve, which is considered representative of Arrow’s time deposit rates. The fair value of all other deposits is equal to the carrying value. | ||||||||||||||||||||
The fair value of FHLBNY advances is estimated based on the discounted value of contractual cash flows. The discount rate is estimated using current rates on FHLBNY advances with similar maturities and call features. | ||||||||||||||||||||
Based on Arrow’s capital adequacy, the book value of the outstanding trust preferred securities (Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts) are considered to approximate fair value since the interest rates are variable (indexed to LIBOR) and Arrow is well-capitalized. |
Leases
Leases | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | ||||||||||
Leases of Lessee Disclosure [Text Block] | LEASES (Dollars In Thousands) | |||||||||
At December 31, 2014, Arrow was obligated under a number of noncancellable operating leases for buildings and equipment. Certain of these leases provide for escalation clauses and contain renewal options calling for increased rentals if the lease is renewed. | ||||||||||
Net rental expense for the years ended December 31, 2014, 2013 and 2012 was as follows: | ||||||||||
2014 | 2013 | 2012 | ||||||||
Net Rental Expense | $ | 784 | $ | 671 | $ | 597 | ||||
Future minimum lease payments on operating leases at December 31, 2014 were as follows: | ||||||||||
Operating | ||||||||||
Leases | ||||||||||
2015 | $ | 686 | ||||||||
2016 | 483 | |||||||||
2017 | 389 | |||||||||
2018 | 318 | |||||||||
2019 | 266 | |||||||||
Later Years | 372 | |||||||||
Total Minimum Lease Payments | $ | 2,514 | ||||||||
Arrow leases five of its branch offices, at market rates, from Stewart’s Shops Corp. Mr. Gary C. Dake, President of Stewart’s Shops Corp., serves on both the boards of Arrow and Saratoga National Bank and Trust Company. |
Regulatory_Matters
Regulatory Matters | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Banking and Thrift [Abstract] | |||||||||||||||||||||
Regulatory Capital Requirements under Banking Regulations [Text Block] | REGULATORY MATTERS (Dollars in Thousands) | ||||||||||||||||||||
In the normal course of business, Arrow and its subsidiaries operate under certain regulatory restrictions, such as the extent and structure of covered inter-company borrowings and maintenance of reserve requirement balances. | |||||||||||||||||||||
The principal source of the funds for the payment of stockholder dividends by Arrow has been from dividends declared and paid to Arrow by its bank subsidiaries. As of December 31, 2014, the maximum amount that could have been paid by subsidiary banks to Arrow, without prior regulatory approval, was approximately $29.2. | |||||||||||||||||||||
Under current Federal Reserve regulations, Arrow is prohibited from borrowing from the subsidiary banks unless such borrowings are secured by specific obligations. Additionally, the maximum of any such borrowing is limited to 10% of an affiliate’s capital and surplus. | |||||||||||||||||||||
Arrow and its subsidiary banks are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory--and possibly additional discretionary--actions by regulators that, if undertaken, could have a direct material effect on an institution’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, Arrow and its subsidiary banks must meet specific capital guidelines that involve quantitative measures of assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. Capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. | |||||||||||||||||||||
Quantitative measures established by regulation to ensure capital adequacy require Arrow and its subsidiary banks to maintain minimum capital amounts and ratios (set forth in the table below) of total and Tier I capital (as defined in the regulations) to risk-weighted assets (as defined), and of Tier I capital (as defined) to average assets (as defined). Management believes, as of December 31, 2014 and 2013, that Arrow and both subsidiary banks meet all capital adequacy requirements to which they are subject. | |||||||||||||||||||||
As of December 31, 2014, Arrow and both subsidiary banks qualified as well-capitalized under the regulatory framework for prompt corrective action. To be categorized as “well-capitalized,” Arrow and its subsidiary banks must maintain minimum total risk-based, Tier I risk-based, and Tier I leverage ratios as set forth in the table below. There are no conditions or events that management believes have changed Arrow’s or its subsidiary banks’ categories. | |||||||||||||||||||||
Arrow’s and its subsidiary banks’, Glens Falls National Bank and Trust Company (“Glens Falls National”) and Saratoga National Bank and Trust Company (“Saratoga National”), actual capital amounts and ratios are presented in the table below as of December 31, 2014 and 2013: | |||||||||||||||||||||
Actual | Minimum Amounts For Capital Adequacy Purposes | Minimum Amounts To Be Well-Capitalized | |||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||
As of December 31, 2014: | |||||||||||||||||||||
Total Capital | |||||||||||||||||||||
(to Risk Weighted Assets): | |||||||||||||||||||||
Arrow | $ | 225,766 | 15.5 | % | $ | 116,524 | 8 | % | $ | 145,655 | 10 | % | |||||||||
Glens Falls National | 183,446 | 15.5 | % | 94,682 | 8 | % | 118,352 | 10 | % | ||||||||||||
Saratoga National | 35,217 | 13.3 | % | 21,183 | 8 | % | 26,479 | 10 | % | ||||||||||||
Tier I Capital | |||||||||||||||||||||
(to Risk Weighted Assets): | |||||||||||||||||||||
Arrow | 210,136 | 14.5 | % | 57,969 | 4 | % | 86,953 | 6 | % | ||||||||||||
Glens Falls National | 170,497 | 14.4 | % | 47,360 | 4 | % | 71,040 | 6 | % | ||||||||||||
Saratoga National | 32,596 | 12.3 | % | 10,600 | 4 | % | 15,900 | 6 | % | ||||||||||||
Tier I Capital | |||||||||||||||||||||
(to Average Assets): | |||||||||||||||||||||
Arrow | 210,136 | 9.4 | % | 89,420 | 4 | % | 89,420 | 4 | % | ||||||||||||
Glens Falls National | 170,497 | 9.1 | % | 74,944 | 4 | % | 93,680 | 5 | % | ||||||||||||
Saratoga National | 32,596 | 9.4 | % | 13,871 | 4 | % | 17,338 | 5 | % | ||||||||||||
Actual | Minimum Amounts For Capital | Minimum Amounts To Be Well-Capitalized | |||||||||||||||||||
Adequacy Purposes | |||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||
As of December 31, 2013: | |||||||||||||||||||||
Total Capital | |||||||||||||||||||||
(to Risk Weighted Assets): | |||||||||||||||||||||
Arrow | $ | 212,360 | 15.8 | % | 107,524 | 8 | % | 134,405 | 10 | % | |||||||||||
Glens Falls National | 172,720 | 15.4 | % | 89,725 | 8 | % | 112,156 | 10 | % | ||||||||||||
Saratoga National | 33,396 | 14.8 | % | 18,052 | 8 | % | 22,565 | 10 | % | ||||||||||||
Tier I Capital | |||||||||||||||||||||
(to Risk Weighted Assets): | |||||||||||||||||||||
Arrow | 197,906 | 14.7 | % | 53,852 | 4 | % | 80,778 | 6 | % | ||||||||||||
Glens Falls National | 160,849 | 14.4 | % | 44,680 | 4 | % | 67,020 | 6 | % | ||||||||||||
Saratoga National | 30,833 | 13.7 | % | 9,002 | 4 | % | 13,504 | 6 | % | ||||||||||||
Tier I Capital | |||||||||||||||||||||
(to Average Assets): | |||||||||||||||||||||
Arrow | 197,906 | 9.2 | % | 86,046 | 4 | % | 86,046 | 4 | % | ||||||||||||
Glens Falls National | 160,849 | 8.8 | % | 73,113 | 4 | % | 91,391 | 5 | % | ||||||||||||
Saratoga National | 30,833 | 9.7 | % | 12,715 | 4 | % | 15,893 | 5 | % | ||||||||||||
Parent_Only_Financial_Informat
Parent Only Financial Information | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | PARENT ONLY FINANCIAL INFORMATION (Dollars In Thousands) | |||||||||||
Condensed financial information for Arrow Financial Corporation is as follows: | ||||||||||||
BALANCE SHEETS | December 31, | |||||||||||
ASSETS | 2014 | 2013 | ||||||||||
Interest-Bearing Deposits with Subsidiary Banks | $ | 3,013 | $ | 3,349 | ||||||||
Available-for-Sale Securities | 1,254 | 1,166 | ||||||||||
Held-to-Maturity Securities | 1,000 | 1,000 | ||||||||||
Investment in Subsidiaries at Equity | 214,813 | 206,680 | ||||||||||
Other Assets | 6,538 | 5,807 | ||||||||||
Total Assets | $ | 226,618 | $ | 218,002 | ||||||||
LIABILITIES | ||||||||||||
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts | $ | 20,000 | $ | 20,000 | ||||||||
Other Liabilities | 5,692 | 5,848 | ||||||||||
Total Liabilities | 25,692 | 25,848 | ||||||||||
STOCKHOLDERS’ EQUITY | ||||||||||||
Total Stockholders’ Equity | 200,926 | 192,154 | ||||||||||
Total Liabilities and Stockholders’ Equity | $ | 226,618 | $ | 218,002 | ||||||||
STATEMENTS OF INCOME | Years Ended December 31, | |||||||||||
Income: | 2014 | 2013 | 2012 | |||||||||
Dividends from Bank Subsidiaries | $ | 13,300 | $ | 12,900 | $ | 12,700 | ||||||
Interest and Dividends on Investments | 116 | 116 | 123 | |||||||||
Other Income (Including Management Fees) | 578 | 549 | 776 | |||||||||
Net Gains on Securities Transactions | — | — | 63 | |||||||||
Total Income | 13,994 | 13,565 | 13,662 | |||||||||
Expense: | ||||||||||||
Interest Expense | 620 | 640 | 692 | |||||||||
Salaries and Employee Benefits | 77 | 59 | 75 | |||||||||
Other Expense | 754 | 860 | 957 | |||||||||
Total Expense | 1,451 | 1,559 | 1,724 | |||||||||
Income Before Income Tax Benefit and Equity | ||||||||||||
in Undistributed Net Income of Subsidiaries | 12,543 | 12,006 | 11,938 | |||||||||
Income Tax Benefit | 473 | 634 | 575 | |||||||||
Equity in Undistributed Net Income of Subsidiaries | 10,344 | 9,155 | 9,666 | |||||||||
Net Income | $ | 23,360 | $ | 21,795 | $ | 22,179 | ||||||
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, | |||||||||||
2014 | 2013 | 2012 | ||||||||||
Cash Flows from Operating Activities: | ||||||||||||
Net Income | $ | 23,360 | $ | 21,795 | $ | 22,179 | ||||||
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: | ||||||||||||
Undistributed Net Income of Subsidiaries | (10,344 | ) | (9,155 | ) | (9,666 | ) | ||||||
Net Gains on the Sale of Securities Available-for-Sale | — | — | (63 | ) | ||||||||
Shares Issued Under the Directors’ Stock Plan | 197 | 198 | 175 | |||||||||
Stock-Based Compensation Expense | 360 | 372 | 424 | |||||||||
Changes in Other Assets and Other Liabilities | (1,014 | ) | (990 | ) | (1,640 | ) | ||||||
Net Cash Provided by Operating Activities | 12,559 | 12,220 | 11,409 | |||||||||
Cash Flows from Investing Activities: | ||||||||||||
Proceeds from the Sale of Securities Available-for-Sale | 45 | 45 | 681 | |||||||||
Purchases of Securities Available-for-Sale | (45 | ) | (45 | ) | (359 | ) | ||||||
Net Cash Provided by Investing Activities | — | — | 322 | |||||||||
Cash Flows from Financing Activities: | ||||||||||||
Stock Options Exercised | 1,942 | 1,254 | 2,105 | |||||||||
Shares Issued Under the Employee Stock Purchase Plan | — | 477 | 484 | |||||||||
Shares Issued for Dividend Reinvestment Plans | — | 1,280 | 1,822 | |||||||||
Tax Benefit for Exercises of Stock Options | 25 | 23 | 68 | |||||||||
Purchase of Treasury Stock | (2,455 | ) | (1,709 | ) | (4,877 | ) | ||||||
Cash Dividends Paid | (12,407 | ) | (12,109 | ) | (11,815 | ) | ||||||
Net Cash Used in Financing Activities | (12,895 | ) | (10,784 | ) | (12,213 | ) | ||||||
Net (Decrease) Increase in Cash and Cash Equivalents | (336 | ) | 1,436 | (482 | ) | |||||||
Cash and Cash Equivalents at Beginning of the Year | 3,349 | 1,913 | 2,395 | |||||||||
Cash and Cash Equivalents at End of the Year | $ | 3,013 | $ | 3,349 | $ | 1,913 | ||||||
Supplemental Disclosures to Statements of | ||||||||||||
Cash Flow Information: | ||||||||||||
Interest Paid | $ | 620 | $ | 640 | $ | 692 | ||||||
Non-cash Investing and Financing Activities: | ||||||||||||
Shares Issued for Acquisition of Subsidiary | 91 | 233 | 233 | |||||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies Significant Accounting (Policies) | 12 Months Ended | |
Dec. 31, 2014 | ||
Accounting Policies [Abstract] | ||
Principles of Consolidation [Text Block] | Principles of Consolidation - The financial statements of Arrow and its wholly owned subsidiaries are consolidated and all material inter-company transactions have been eliminated. In the “Parent Company Only” financial statements in Note 20, the investment in wholly owned subsidiaries is carried under the equity method of accounting. When necessary, prior years’ consolidated financial statements have been reclassified to conform to the current-year financial statement presentation. | |
The Company determines whether it has a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a variable interest entity under GAAP. Voting interest entities are entities in which the total equity investment at risk is sufficient to enable the entity to finance itself independently and provides the equity holders with the obligation to absorb losses, the right to receive residual returns and the right to make decisions about the entity’s activities. The Company consolidates voting interest entities in which it has all, or at least a majority of, the voting interest. As defined in applicable accounting standards, variable interest entities (VIE) are entities that lack one or more of the characteristics of a voting interest entity. A controlling financial interest in a VIE is present when the Company has both the power and ability to direct the activities of the VIE that most significantly impact the VIE's economic performance and an obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The Company’s wholly owned subsidiaries Arrow Capital Statutory Trust II and Arrow Capital Statutory Trust III are VIEs for which the Company is not the primary beneficiary. Accordingly, the accounts of these entities are not included in the Company’s consolidated financial statements. | ||
Segment Reporting [Policy Text Block] | Segment Reporting - Arrow operations are primarily in the community banking industry, which constitutes Arrow’s only segment for financial reporting purposes. Arrow provides other services, such as trust administration, retirement plan administration, advice to our proprietary mutual funds and insurance products, but these services do not rise to the quantitative thresholds for separate disclosure. Arrow operates primarily in the northeastern region of New York State in Warren, Washington, Saratoga, Essex, Clinton and Albany counties and surrounding areas. | |
Cash and Cash Equivalents [Policy Text Block] | Cash and Cash Equivalents - Cash and cash equivalents include the following items: cash at branches, due from bank balances, cash items in the process of collection, interest-bearing bank balances and federal funds sold. | |
Securities [Policy Text Block] | Securities - Management determines the appropriate classification of securities at the time of purchase. Securities reported as held-to-maturity are those debt securities which Arrow has both the positive intent and ability to hold to maturity and are stated at amortized cost. Securities available-for-sale are reported at fair value, with unrealized gains and losses reported in accumulated other comprehensive income or loss, net of taxes. Realized gains and losses are based upon the amortized cost of the specific security sold. A decline in the fair value of any available-for-sale or held-to-maturity security below cost that is deemed to be other-than-temporary results in an impairment to reduce the carrying amount to fair value. To determine whether an impairment is other-than-temporary, we consider all available information relevant to the collectibility of the security, including past events, current conditions, and reasonable and supportable forecasts when developing an estimate of cash flows expected to be collected. Evidence considered in this assessment includes the reasons for impairment, the severity and duration of the impairment, changes in value subsequent to year-end, forecasted performance of the investee, and the general market condition in the geographic area or industry the investee operates in. When an other-than-temporary impairment has occurred on a debt security, the amount of the other-than-temporary impairment recognized in earnings depends on whether we intend to sell the debt security or more likely than not will be required to sell the debt security before recovery of its amortized cost basis less any current-period credit loss. If we intend to sell the debt security or it is more likely than not that we will be required to sell the debt security before recovery of its amortized cost basis less any current-period credit loss, the other-than-temporary impairment is recognized in earnings equal to the entire difference between the investment’s amortized cost basis and its fair value at the balance sheet date. If we do not intend to sell the debt security and it is not more likely than not that we will be required to sell the debt security before recovery of its amortized cost basis, the other-than-temporary impairment is separated into the amount representing the credit loss and the amount related to all other factors. The amount of the total other-than-temporary impairment related to the credit loss is recognized in earnings. The amount of the total other-than-temporary impairment related to other factors is recognized in other comprehensive income, net of applicable income taxes. | |
Loans and Allowance for Loan Losses [Policy Text Block] | Loans and Allowance for Loan Losses - Interest income on loans is accrued and credited to income based upon the principal amount outstanding. Loan fees and costs directly associated with loan originations are deferred and amortized/accreted as an adjustment to yield over the lives of the loans originated. | |
From time-to-time, Arrow has sold (most with servicing retained) residential real estate loans at or shortly after origination. Any gain or loss on the sale of loans, along with the value of the servicing right, is recognized at the time of sale as the difference between the recorded basis in the loan and net proceeds from the sale. Loans held for sale are recorded at the lower of cost or fair value on an aggregate basis. | ||
Loans are placed on nonaccrual status either due to the delinquency status of principal and/or interest or a judgment by management that the full repayment of principal and interest is unlikely. Unless already placed on nonaccrual status, loans secured by home equity lines of credit are put on nonaccrual status when 120 days past due; residential real estate loans when 150 days past due; commercial and commercial real estate loans are evaluated on a loan-by-loan basis and are placed on nonaccrual status when 90 days past due if the full collection of principal and interest is uncertain. The balance of any accrued interest deemed uncollectible at the date the loan is placed on nonaccrual status is reversed, generally against interest income. A loan is returned to accrual status at the later of the date when the past due status of the loan falls below the threshold for nonaccrual status or management deems that it is likely that the borrower will repay all interest and principal. For payments received while the loan is on nonaccrual status, we may recognize interest income on a cash basis if the repayment of the remaining principal and accrued interest is deemed likely. | ||
The allowance for loan losses is maintained by charges to operations based upon our best estimate of the probable amount of loans that we will be unable to collect based on current information and events. Provisions to the allowance for loan losses are offset by actual loan charge-offs (net of any recoveries). We evaluate the loan portfolio for potential charge-offs on a monthly basis. In general, automobile and other consumer loans are charged-off when 120 days delinquent. Residential real estate loans are charged-off when a loss becomes known or based on a new appraisal at the earlier of 180 days past due or repossession. Commercial and commercial real estate loans loans are evaluated early in their delinquency status and are charged-off when management concludes that not all principal will be repaid from on-going cash flows or liquidation of collateral. An evaluation of estimated proceeds from the liquidation of the loan’s collateral is compared to the loan carrying amount and a charge to the allowance for loan losses is taken for any deficiency. While management uses available information to recognize losses on loans, future additions to the allowance may be necessary based on changes in economic conditions in Arrow's market area. In addition, various Federal regulatory agencies, as an integral part of their examination process, review Arrow's allowance for loan losses. Such agencies may require Arrow to recognize additions to the allowance in future periods, based on their judgments about information available to them at the time of their examination, which may not be currently available to management. | ||
We consider nonaccrual loans over $250 thousand and all troubled debt restructured loans to be impaired loans and we evaluate these loans individually to determine the amount of impairment, if any. The amount of impairment, if any, related to individual impaired loans is measured based on either the present value of expected future cash flows discounted at the loan's effective interest rate, the loan's observable market price or the fair value of the collateral if the loan is collateral dependent. Arrow determines impairment for collateral dependent loans based on the fair value of the collateral less estimated costs to sell. Any excess of the recorded investment in the collateral dependent impaired loan over the estimated collateral value, less costs to sell, is typically charged off. For impaired loans which are not collateral dependent, impairment is measured by comparing the recorded investment in the loan to the present value of the expected cash flows, discounted at the loan’s effective interest rate. If this amount is less than the recorded investment in the loan, an impairment reserve is recognized as part of the allowance for loan losses, or based upon the judgment of management all or a portion of the excess of the recorded investment in the loan over the present value of the estimated future cash flow may be charged off. | ||
The allowance for loan losses on the remaining loans is primarily determined based upon consideration of the historical net loss experience of the respective portfolios that have occurred within each pool of loans over the loss emergence period (LEP), adjusted as necessary based upon consideration of qualitative considerations impacting the inherent risk of loss in the respective loan portfolios. The LEP is an estimate of the average amount of time from the point at which a loss is incurred on a loan to the point at which the loss is recognized in the financial statements. Since the LEP may change under various economic environments, we update the LEP calculation on a semiannual basis. | ||
In management’s opinion, the balance of the allowance for loan losses, at each balance sheet date, is sufficient to provide for probable loan losses inherent in the corresponding loan portfolio. | ||
Other Real Estate Owned and Repossessed Assets [Policy Text Block] | Other Real Estate Owned and Repossessed Assets - Real estate acquired by foreclosure and assets acquired by repossession are recorded at the fair value of the property less estimated costs to sell at the time of repossession. Subsequent declines in fair value, after transfer to other real estate owned and repossessed assets are recognized through a valuation allowance. Such declines in fair value along with related operating expenses to administer such properties or assets are charged directly to operating expense. | |
Premises and Equipment [Policy Text Block] | Premises and Equipment - Premises and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation and amortization included in operating expenses are computed largely on the straight-line method. Depreciation is based on the estimated useful lives of the assets (buildings and improvements 20-40 years; furniture and equipment 7-10 years; data processing equipment 5-7 years) and, in the case of leasehold improvements, amortization is computed over the terms of the respective leases or their estimated useful lives, whichever is shorter. Gains or losses on disposition are reflected in earnings. | |
Income Taxes [Policy Text Block] | Income Taxes - Arrow accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income tax expense in the period that includes the enactment date. Arrow’s policy is that deferred tax assets are reduced by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. | |
Goodwill and Other Intangible Assets [Policy Text Block] | Goodwill and Other Intangible Assets - Identifiable intangible assets acquired in a business combination are capitalized and amortized. Any remaining unidentifiable intangible asset is classified as goodwill, for which amortization is not required but which must be evaluated for impairment. Arrow tests for impairment of goodwill on an annual basis, or when events and circumstances indicate potential impairment. In evaluating goodwill for impairment, Arrow first assesses certain qualitative factors to determine if it is more likely than not that the fair value of the reporting unit is less than its carrying value. If it is more likely than not that the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired. If the carrying amount of a reporting unit exceeds its fair value, the second step of the goodwill impairment test is performed to measure the amount of impairment loss, if any. | |
The carrying amounts of other recognized intangible assets that meet recognition criteria and for which separate accounting records have been maintained (core deposit intangibles and mortgage servicing rights), have been included in the consolidated balance sheet as “Other Intangible Assets, Net.” Core deposit intangibles are being amortized on a straight-line basis over a period of ten to fifteen years. | ||
Arrow has sold residential real estate loans, primarily to Freddie Mac, with servicing retained. Mortgage servicing rights are recognized as an asset when loans are sold with servicing retained, by allocating the cost of an originated mortgage loan between the loan and servicing right based on estimated relative fair values. The cost allocated to the servicing right is capitalized as a separate asset and amortized in proportion to, and over the period of, estimated net servicing income. Capitalized mortgage servicing rights are evaluated for impairment by comparing the asset’s carrying value to its current estimated fair value. Fair values are estimated using a discounted cash flow approach, which considers future servicing income and costs, current market interest rates, and anticipated prepayment, and default rates. Impairment losses are recognized through a valuation allowance for servicing rights having a current fair value that is less than amortized cost on an aggregate basis. Adjustments to increase or decrease the valuation allowance are charged or credited to income as a component of other operating income. | ||
Pension and Postretirement Benefits [Policy Text Block] | Pension and Postretirement Benefits - Arrow maintains a non-contributory, defined benefit pension plan covering substantially all employees, a supplemental pension plan covering certain executive officers selected by the Board of Directors, and certain post-retirement medical, dental and life insurance benefits for employees and retirees. The costs of these plans, based on actuarial computations of current and future benefits for employees, are charged to current operating expenses. The cost of post-retirement benefits other than pensions is recognized on an accrual basis as employees perform services to earn the benefits. Arrow recognizes the overfunded or underfunded status of our single employer defined benefit pension plan as an asset or liability on its consolidated balance sheet and recognizes changes in the funded status in comprehensive income in the year in which the change occurred. | |
Prior service costs or credits are amortized on a straight-line basis over the average remaining service period of active participants. Gains and losses in excess of 10% of the greater of the benefit obligation or the fair value of assets are amortized over the average remaining service period of active participants. | ||
The discount rate assumption is determined by preparing an analysis of the respective plan’s expected future cash flows and high-quality fixed-income investments currently available and expected to be available during the period to maturity of the pension benefits. | ||
Share-Based Compensation Plans [Policy Text Block] | Stock-Based Compensation Plans - Arrow has two stock option plans, which are described more fully in Note 12. The Company expenses the grant date fair value of options granted. The expense is recognized over the vesting period of the grant, typically four years, on a straight-line basis. Shares are generally issued from treasury for the exercise of stock options. | |
Arrow sponsors an Employee Stock Purchase Plan ("ESPP") under which employees may purchase Arrow’s common stock at a 5% discount below market price at the time of purchase. This stock purchase plan is not considered a compensatory plan. | ||
Arrow sponsors an Employee Stock Ownership Plan ("ESOP"), a qualified defined contribution plan. The ESOP has borrowed funds from one of Arrow’s subsidiary banks to purchase Arrow common stock. The shares pledged as collateral are reported as a reduction of Arrow’s stockholders’ equity. Compensation expense is recognized as shares are released for allocation to individual employee accounts equal to the current average market price. | ||
Securities Sold Under Agreements to Repurchase [Policy Text Block] | Securities Sold Under Agreements to Repurchase - In securities repurchase agreements, Arrow receives cash from a counterparty in exchange for the transfer of securities to a third party custodian’s account that explicitly recognizes Arrow’s interest in the securities. These agreements are accounted for by Arrow as secured financing transactions, since it maintains effective control over the transferred securities, and meets other criteria for such accounting. Accordingly, the cash proceeds are recorded as borrowed funds, and the underlying securities continue to be carried in Arrow’s securities available-for-sale portfolio. | |
Earnings Per Share [Policy Text Block] | Earnings Per Share (“EPS”) - Basic EPS excludes dilution and is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity (such as Arrow’s stock options), computed using the treasury stock method. Unallocated common shares held by Arrow’s Employee Stock Ownership Plan are not included in the weighted average number of common shares outstanding for either the basic or diluted EPS calculation. | |
Financial Instruments [Policy Text Block] | Financial Instruments - Arrow is a party to certain financial instruments with off-balance sheet risk, such as: commercial lines of credit, construction lines of credit, overdraft protection, home equity lines of credit and standby letters of credit. Arrow's policy is to record such instruments when funded. Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time Arrow's entire holdings of a particular financial instrument. Because no market exists for a significant portion of Arrow's financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. | |
Fair value estimates are based on existing on- and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. For example, Arrow has a trust department that contributes net fee income annually. The value of trust department customer relationships is not considered a financial instrument of the Company, and therefore this value has not been incorporated into the fair value estimates. Other significant assets and liabilities that are not considered financial assets or liabilities include deferred taxes, premises and equipment, the value of low-cost, long-term core deposits and goodwill. In addition, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in any of the estimates. | ||
The carrying amount of the following short-term assets and liabilities is a reasonable estimate of fair value: cash and due from banks, federal funds sold and purchased, securities sold under agreements to repurchase, demand deposits, savings, N.O.W. and money market deposits, other short-term borrowings, accrued interest receivable and accrued interest payable. The fair value estimates of other on- and off-balance sheet financial instruments, as well as the method of arriving at fair value estimates, are included in the related footnotes and summarized in Note 17. | ||
Fair Value Measures - We determine the fair value of financial instruments under the following hierarchy: | ||
• | Level 1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; | |
• | Level 2 – Quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; | |
• | Level 3 – Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). | |
A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. | ||
Management's Use of Estimates [Policy Text Block] | Management’s Use of Estimates -The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of income and expenses during the reporting period. Our most significant estimates are the allowance for loan losses, the evaluation of other-than-temporary impairment of investment securities, goodwill impairment, pension and other postretirement liabilities, analysis of a need for a valuation allowance for deferred tax assets and other fair value calculations. Actual results could differ from those estimates. | |
A material estimate that is particularly susceptible to significant change in the near term is the allowance for loan losses. In connection with the determination of the allowance for loan losses, management obtains appraisals for properties. The allowance for loan losses is management’s best estimate of probable loan losses incurred as of the balance sheet date. While management uses available information to recognize losses on loans, future adjustments to the allowance for loan losses may be necessary based on changes in economic conditions. | ||
Recent Accounting Pronouncements [Policy Text Block] | Recent Accounting Pronouncements | |
During 2014 the FASB issued eighteen accounting standards updates and, through the date of this report, one additional update in 2015. For those updates that apply to Arrow, the following paragraphs provide a brief description, the effective date and the estimated impact on our financial condition or results of operations. | ||
ASU 2014-01 "Investments-Equity Method and Joint Ventures" allows an entity that invests in affordable housing projects that qualify for low-income housing tax credits to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense. The standard is effective for annual years beginning after December 15, 2014, with earlier adoption allowed. We are evaluating the impact of adopting this election and do not expect that this will have a material impact on our financial condition or results of operations. | ||
ASU 2014-04 "Receivables - Trouble Debt Restructurings by Creditors" provides additional guidance on when an in substance repossession or foreclosure occurs and is effective for annual periods beginning after December 15, 2014. We are evaluating the impact of adopting this standard, and we do not expect that it will have a material impact on our financial condition or results of operations. | ||
ASU 2014-14 "Receivables - Trouble Debt Restructurings by Creditors - Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure" requires an entity to report a separate other receivable for the amount of the expected guarantee upon foreclosure. For Arrow, the standard is effective for the first quarter of 2015. The adoption will not have a material impact on our financial condition or results of operations. | ||
ASU 2015-01 "Income Statement - Extraordinary and Unusual Items" eliminates the concept of extraordinary items. |
Cash_and_Cash_Equivalents_Tabl
Cash and Cash Equivalents (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Cash and Cash Equivalents [Abstract] | ||||||||
Schedule of Cash and Cash Equivalents [Table Text Block] | The following table is the schedule of cash and cash equivalents at December 31, 2014 and 2013: | |||||||
2014 | 2013 | |||||||
Cash and Due From Banks | $ | 35,081 | $ | 37,275 | ||||
Interest-Bearing Deposits at Banks | 11,214 | 12,705 | ||||||
Total Cash and Cash Equivalents | $ | 46,295 | $ | 49,980 | ||||
Supplemental Information: | ||||||||
Total required reserves, including vault cash and Federal Reserve Bank deposits | $ | 19,989 | $ | 18,879 | ||||
Investment_Securities_Tables
Investment Securities (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||
Available-for-sale Securities [Table Text Block] | The following table is the schedule of Available-For-Sale Securities at December 31, 2014 and 2013: | ||||||||||||||||||||||||
Available-For-Sale Securities | |||||||||||||||||||||||||
U.S. Agency | State and | Mortgage- | Corporate | Mutual Funds | Total | ||||||||||||||||||||
Obligations | Municipal | Backed | and Other | and Equity | Available- | ||||||||||||||||||||
Obligations | Securities - | Debt | Securities | For-Sale | |||||||||||||||||||||
Residential | Securities | Securities | |||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Available-For-Sale Securities, | $ | 137,540 | $ | 81,582 | $ | 124,732 | $ | 16,988 | $ | 1,120 | $ | 361,962 | |||||||||||||
at Amortized Cost | |||||||||||||||||||||||||
Available-For-Sale Securities, | 137,603 | 81,730 | 128,827 | 16,725 | 1,254 | 366,139 | |||||||||||||||||||
at Fair Value | |||||||||||||||||||||||||
Gross Unrealized Gains | 208 | 187 | 4,100 | 7 | 134 | 4,636 | |||||||||||||||||||
Gross Unrealized Losses | 145 | 39 | 5 | 270 | — | 459 | |||||||||||||||||||
Available-For-Sale Securities, | 267,384 | ||||||||||||||||||||||||
Pledged as Collateral | |||||||||||||||||||||||||
Available-For-Sale Securities | |||||||||||||||||||||||||
U.S. Agency | State and | Mortgage- | Corporate | Mutual Funds | Total | ||||||||||||||||||||
Obligations | Municipal | Backed | and Other | and Equity | Available- | ||||||||||||||||||||
Obligations | Securities - | Debt | Securities | For-Sale | |||||||||||||||||||||
Residential | Securities | Securities | |||||||||||||||||||||||
Maturities of Debt Securities, | |||||||||||||||||||||||||
at Amortized Cost: | |||||||||||||||||||||||||
Within One Year | — | 28,273 | 2,878 | 2,303 | 33,454 | ||||||||||||||||||||
From 1 - 5 Years | 137,540 | 51,384 | 100,428 | 13,685 | 303,037 | ||||||||||||||||||||
From 5 - 10 Years | — | 1,285 | 21,426 | — | 22,711 | ||||||||||||||||||||
Over 10 Years | — | 640 | — | 1,000 | 1,640 | ||||||||||||||||||||
Maturities of Debt Securities, | |||||||||||||||||||||||||
at Fair Value: | |||||||||||||||||||||||||
Within One Year | — | 28,329 | 2,888 | 2,307 | 33,524 | ||||||||||||||||||||
From 1 - 5 Years | 137,603 | 51,476 | 103,786 | 13,618 | 306,483 | ||||||||||||||||||||
From 5 - 10 Years | — | 1,285 | 22,153 | — | 23,438 | ||||||||||||||||||||
Over 10 Years | — | 640 | — | 800 | 1,440 | ||||||||||||||||||||
Securities in a Continuous | |||||||||||||||||||||||||
Loss Position, at Fair Value: | |||||||||||||||||||||||||
Less than 12 Months | $ | 39,631 | $ | 3,309 | $ | 82 | $ | — | $ | — | $ | 43,022 | |||||||||||||
12 Months or Longer | 28,020 | 14,035 | 1,546 | 10,738 | — | 54,339 | |||||||||||||||||||
Total | $ | 67,651 | $ | 17,344 | $ | 1,628 | $ | 10,738 | $ | — | $ | 97,361 | |||||||||||||
Number of Securities in a | 22 | 65 | 3 | 15 | — | 105 | |||||||||||||||||||
Continuous Loss Position | |||||||||||||||||||||||||
Unrealized Losses on | |||||||||||||||||||||||||
Securities in a Continuous | |||||||||||||||||||||||||
Loss Position: | |||||||||||||||||||||||||
Less than 12 Months | $ | 48 | $ | — | $ | — | $ | — | $ | — | $ | 48 | |||||||||||||
12 Months or Longer | 97 | 39 | 5 | 270 | — | 411 | |||||||||||||||||||
Total | $ | 145 | $ | 39 | $ | 5 | $ | 270 | $ | — | $ | 459 | |||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Available-For-Sale Securities, | $ | 136,868 | $ | 127,224 | $ | 171,321 | $ | 17,142 | $ | 1,120 | $ | 453,675 | |||||||||||||
at Amortized Cost | |||||||||||||||||||||||||
Available-For-Sale Securities, | 136,475 | 127,389 | 175,778 | 16,798 | 1,166 | 457,606 | |||||||||||||||||||
at Fair Value | |||||||||||||||||||||||||
Gross Unrealized Gains | 2 | 306 | 4,714 | 10 | 46 | 5,078 | |||||||||||||||||||
Gross Unrealized Losses | 395 | 141 | 257 | 354 | — | 1,147 | |||||||||||||||||||
Available-For-Sale Securities, | 243,769 | ||||||||||||||||||||||||
Pledged as Collateral | |||||||||||||||||||||||||
Securities in a Continuous | |||||||||||||||||||||||||
Loss Position, at Fair Value: | |||||||||||||||||||||||||
Less than 12 Months | $ | 60,664 | $ | 29,967 | $ | 15,190 | $ | 7,375 | $ | — | $ | 113,196 | |||||||||||||
12 Months or Longer | 33,849 | 4,597 | 11,841 | 6,063 | — | 56,350 | |||||||||||||||||||
Total | $ | 94,513 | $ | 34,564 | $ | 27,031 | $ | 13,438 | $ | — | $ | 169,546 | |||||||||||||
Number of Securities in a | 26 | 107 | 13 | 19 | — | 165 | |||||||||||||||||||
Continuous Loss Position | |||||||||||||||||||||||||
Unrealized Losses on | |||||||||||||||||||||||||
Securities in a Continuous | |||||||||||||||||||||||||
Loss Position: | |||||||||||||||||||||||||
Less than 12 Months | $ | 336 | $ | 120 | $ | 108 | $ | 92 | $ | — | $ | 656 | |||||||||||||
12 Months or Longer | 59 | 21 | 149 | 262 | — | 491 | |||||||||||||||||||
Total | $ | 395 | $ | 141 | $ | 257 | $ | 354 | $ | — | $ | 1,147 | |||||||||||||
Held-to-maturity Securities [Table Text Block] | The following table is the schedule of Held-To-Maturity Securities at December 31, 2014 and 2013: | ||||||||||||||||||||||||
Held-To-Maturity Securities | |||||||||||||||||||||||||
State and | Mortgage- | Corporate | Total | ||||||||||||||||||||||
Municipal | Backed | and Other | Held-To | ||||||||||||||||||||||
Obligations | Securities - | Debt | Maturity | ||||||||||||||||||||||
Residential | Securities | Securities | |||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Held-To-Maturity Securities, | $ | 188,472 | $ | 112,552 | $ | 1,000 | $ | 302,024 | |||||||||||||||||
at Amortized Cost | |||||||||||||||||||||||||
Held-To-Maturity Securities, | 193,252 | 114,314 | 1,000 | 308,566 | |||||||||||||||||||||
at Fair Value | |||||||||||||||||||||||||
Gross Unrealized Gains | 4,935 | 1,770 | — | 6,705 | |||||||||||||||||||||
Gross Unrealized Losses | 155 | 8 | — | 163 | |||||||||||||||||||||
Held-To-Maturity Securities, | 282,640 | ||||||||||||||||||||||||
Pledged as Collateral | |||||||||||||||||||||||||
Maturities of Debt Securities, | |||||||||||||||||||||||||
at Amortized Cost: | |||||||||||||||||||||||||
Within One Year | 34,163 | — | — | 34,163 | |||||||||||||||||||||
From 1 - 5 Years | 88,866 | 36,649 | — | 125,515 | |||||||||||||||||||||
From 5 - 10 Years | 63,394 | 75,903 | — | 139,297 | |||||||||||||||||||||
Over 10 Years | 2,049 | — | 1,000 | 3,049 | |||||||||||||||||||||
Maturities of Debt Securities, | |||||||||||||||||||||||||
at Fair Value: | |||||||||||||||||||||||||
Within One Year | 34,236 | — | — | 34,236 | |||||||||||||||||||||
From 1 - 5 Years | 91,148 | 37,133 | — | 128,281 | |||||||||||||||||||||
From 5 - 10 Years | 65,728 | 77,181 | — | 142,909 | |||||||||||||||||||||
Over 10 Years | 2,140 | — | 1,000 | 3,140 | |||||||||||||||||||||
Securities in a Continuous | |||||||||||||||||||||||||
Loss Position, at Fair Value: | |||||||||||||||||||||||||
Less than 12 Months | $ | 2,143 | $ | 4,581 | $ | — | $ | 6,724 | |||||||||||||||||
12 Months or Longer | 16,033 | — | — | 16,033 | |||||||||||||||||||||
Total | $ | 18,176 | $ | 4,581 | $ | — | $ | 22,757 | |||||||||||||||||
Number of Securities in a | 74 | 1 | — | 75 | |||||||||||||||||||||
Continuous Loss Position | |||||||||||||||||||||||||
Unrealized Losses on | |||||||||||||||||||||||||
Securities in a Continuous | |||||||||||||||||||||||||
Loss Position: | |||||||||||||||||||||||||
Less than 12 Months | $ | 17 | $ | 8 | $ | — | $ | 25 | |||||||||||||||||
12 Months or Longer | 138 | — | — | 138 | |||||||||||||||||||||
Total | $ | 155 | $ | 8 | $ | — | $ | 163 | |||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Held-To-Maturity Securities, | $ | 198,206 | $ | 100,055 | $ | 1,000 | $ | 299,261 | |||||||||||||||||
at Amortized Cost | |||||||||||||||||||||||||
Held-To-Maturity Securities, | 202,390 | 98,915 | 1,000 | 302,305 | |||||||||||||||||||||
at Fair Value | |||||||||||||||||||||||||
Gross Unrealized Gains | 4,762 | 24 | — | 4,786 | |||||||||||||||||||||
Gross Unrealized Losses | 578 | 1,164 | — | 1,742 | |||||||||||||||||||||
Held-To-Maturity Securities, | 298,261 | ||||||||||||||||||||||||
Pledged as Collateral | |||||||||||||||||||||||||
Held-To-Maturity Securities | |||||||||||||||||||||||||
State and | Mortgage- | Corporate | Total | ||||||||||||||||||||||
Municipal | Backed | and Other | Held-To | ||||||||||||||||||||||
Obligations | Securities - | Debt | Maturity | ||||||||||||||||||||||
Residential | Securities | Securities | |||||||||||||||||||||||
Securities in a Continuous | |||||||||||||||||||||||||
Loss Position, at Fair Value: | |||||||||||||||||||||||||
Less than 12 Months | $ | 23,633 | $ | 85,339 | $ | — | $ | 108,972 | |||||||||||||||||
12 Months or Longer | 5,111 | — | — | 5,111 | |||||||||||||||||||||
Total | $ | 28,744 | $ | 85,339 | $ | — | $ | 114,083 | |||||||||||||||||
Number of Securities in a | 101 | 36 | — | 137 | |||||||||||||||||||||
Continuous Loss Position | |||||||||||||||||||||||||
Unrealized Losses on | |||||||||||||||||||||||||
Securities in a Continuous | |||||||||||||||||||||||||
Loss Position: | |||||||||||||||||||||||||
Less than 12 Months | $ | 519 | $ | 1,164 | $ | — | $ | 1,683 | |||||||||||||||||
12 Months or Longer | 59 | — | — | 59 | |||||||||||||||||||||
Total | $ | 578 | $ | 1,164 | $ | — | $ | 1,742 | |||||||||||||||||
Schedule of Cost Method Investments [Table Text Block] | Schedule of Federal Reserve Bank and Federal Home Loan Bank Stock | ||||||||||||||||||||||||
Federal Reserve Bank and Federal Home Loan Bank Stock are carried at cost. | |||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Federal Reserve Bank Stock | $ | 1,048 | $ | 1,035 | |||||||||||||||||||||
Federal Home Loan Bank Stock | 3,803 | 5,246 | |||||||||||||||||||||||
Total Federal Reserve Bank and Federal Home Loan Bank Stock | $ | 4,851 | $ | 6,281 | |||||||||||||||||||||
Loans_Tables
Loans (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Abstract] | ||||||||||||||||||||||||||||||||
Past Due Financing Receivables [Table Text Block] | Loan Categories and Past Due Loans | |||||||||||||||||||||||||||||||
The following table presents loan balances outstanding as of December 31, 2014 and December 31, 2013 and an analysis of the recorded investment in loans that are past due at these dates. Generally, Arrow considers a loan past due 30 or more days if the borrower is two or more payments past due. | ||||||||||||||||||||||||||||||||
Schedule of Past Due Loans by Loan Category | ||||||||||||||||||||||||||||||||
Commercial | Commercial | Other | ||||||||||||||||||||||||||||||
Commercial | Construction | Real Estate | Consumer | Automobile | Residential | Total | ||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||||||
Loans Past Due 30-59 Days | $ | 124 | $ | — | $ | 432 | $ | 30 | $ | 4,137 | $ | 482 | $ | 5,205 | ||||||||||||||||||
Loans Past Due 60-89 Days | 154 | — | 7 | 4 | 1,221 | 1,495 | 2,881 | |||||||||||||||||||||||||
Loans Past Due 90 or More Days | 345 | — | 1,832 | 3 | 203 | 2,999 | 5,382 | |||||||||||||||||||||||||
Total Loans Past Due | 623 | — | 2,271 | 37 | 5,561 | 4,976 | 13,468 | |||||||||||||||||||||||||
Current Loans | 98,888 | 18,815 | 319,026 | 7,628 | 423,815 | 531,628 | 1,399,800 | |||||||||||||||||||||||||
Total Loans | $ | 99,511 | $ | 18,815 | $ | 321,297 | $ | 7,665 | $ | 429,376 | $ | 536,604 | $ | 1,413,268 | ||||||||||||||||||
Loans 90 or More Days Past Due and Still Accruing Interest | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 537 | $ | 537 | ||||||||||||||||||
Nonaccrual Loans | $ | 473 | $ | — | $ | 2,071 | $ | 4 | $ | 411 | $ | 3,940 | $ | 6,899 | ||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
Loans Past Due 30-59 Days | $ | 304 | $ | — | $ | 200 | $ | 37 | $ | 3,233 | $ | 529 | $ | 4,303 | ||||||||||||||||||
Loans Past Due 60-89 Days | 601 | — | 1,200 | 19 | 1,041 | 1,527 | 4,388 | |||||||||||||||||||||||||
Loans Past Due 90 or more Days | 177 | — | 2,034 | — | 98 | 3,113 | 5,422 | |||||||||||||||||||||||||
Total Loans Past Due | 1,082 | — | 3,434 | 56 | 4,372 | 5,169 | 14,113 | |||||||||||||||||||||||||
Current Loans | 86,811 | 27,815 | 284,685 | 7,593 | 389,832 | 455,623 | 1,252,359 | |||||||||||||||||||||||||
Total Loans | $ | 87,893 | $ | 27,815 | $ | 288,119 | $ | 7,649 | $ | 394,204 | $ | 460,792 | $ | 1,266,472 | ||||||||||||||||||
Loans 90 or More Days Past Due and Still Accruing Interest | $ | 28 | $ | — | $ | — | $ | — | $ | — | $ | 624 | $ | 652 | ||||||||||||||||||
Nonaccrual Loans | $ | 352 | $ | — | $ | 2,048 | $ | — | $ | 219 | $ | 3,860 | $ | 6,479 | ||||||||||||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Allowance for Loan Losses | |||||||||||||||||||||||||||||||
The following table presents a rollforward of the allowance for loan losses and other information pertaining to the allowance for loan losses: | ||||||||||||||||||||||||||||||||
Allowance for Loan Losses | ||||||||||||||||||||||||||||||||
Commercial | Commercial | Other | ||||||||||||||||||||||||||||||
Commercial | Construction | Real Estate | Consumer | Automobile | Residential | Unallocated | Total | |||||||||||||||||||||||||
Rollfoward of the Allowance for Loan Losses for the Year Ended: | ||||||||||||||||||||||||||||||||
31-Dec-13 | $ | 1,886 | $ | 417 | $ | 3,545 | $ | 272 | $ | 4,206 | $ | 3,026 | $ | 1,082 | $ | 14,434 | ||||||||||||||||
Charge-offs | (212 | ) | — | — | (41 | ) | (677 | ) | (91 | ) | (1,021 | ) | ||||||||||||||||||||
Recoveries | 86 | — | — | 6 | 217 | — | 309 | |||||||||||||||||||||||||
Provision | 340 | (135 | ) | 301 | 22 | 1,205 | 434 | (319 | ) | 1,848 | ||||||||||||||||||||||
31-Dec-14 | $ | 2,100 | $ | 282 | $ | 3,846 | $ | 259 | $ | 4,951 | $ | 3,369 | $ | 763 | $ | 15,570 | ||||||||||||||||
31-Dec-12 | $ | 2,344 | $ | 601 | $ | 3,050 | $ | 304 | $ | 4,536 | $ | 3,405 | $ | 1,058 | $ | 15,298 | ||||||||||||||||
Charge-offs | (926 | ) | — | (11 | ) | (28 | ) | (431 | ) | (15 | ) | — | (1,411 | ) | ||||||||||||||||||
Recoveries | 88 | — | — | 3 | 256 | — | — | 347 | ||||||||||||||||||||||||
Provision | 380 | (184 | ) | 506 | (7 | ) | (155 | ) | (364 | ) | 24 | 200 | ||||||||||||||||||||
December 31, 2013 | $ | 1,886 | $ | 417 | $ | 3,545 | $ | 272 | $ | 4,206 | $ | 3,026 | $ | 1,082 | $ | 14,434 | ||||||||||||||||
31-Dec-11 | $ | 1,927 | $ | 602 | $ | 3,136 | $ | 350 | $ | 4,496 | $ | 3,414 | $ | 1,078 | $ | 15,003 | ||||||||||||||||
Charge-offs | (90 | ) | — | (206 | ) | (52 | ) | (401 | ) | (33 | ) | — | (782 | ) | ||||||||||||||||||
Recoveries | 23 | — | — | 9 | 200 | — | — | 232 | ||||||||||||||||||||||||
Provision | 484 | (1 | ) | 120 | (3 | ) | 241 | 24 | (20 | ) | 845 | |||||||||||||||||||||
31-Dec-12 | $ | 2,344 | $ | 601 | $ | 3,050 | $ | 304 | $ | 4,536 | $ | 3,405 | $ | 1,058 | $ | 15,298 | ||||||||||||||||
Allowance for Loan Losses | ||||||||||||||||||||||||||||||||
Commercial | Commercial | Other | ||||||||||||||||||||||||||||||
Commercial | Construction | Real Estate | Consumer | Automobile | Residential | Unallocated | Total | |||||||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||||||||||
Allowance for loan losses - Loans Individually Evaluated for Impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 109 | $ | — | $ | 109 | ||||||||||||||||
Allowance for loan losses - Loans Collectively Evaluated for Impairment | $ | 2,100 | $ | 282 | $ | 3,846 | $ | 259 | $ | 4,951 | $ | 3,260 | $ | 763 | $ | 15,461 | ||||||||||||||||
Ending Loan Balance - Individually Evaluated for Impairment | $ | 494 | $ | — | $ | 1,492 | $ | — | $ | 118 | $ | 2,237 | $ | — | $ | 4,341 | ||||||||||||||||
Ending Loan Balance - Collectively Evaluated for Impairment | $ | 99,017 | $ | 18,815 | $ | 319,805 | $ | 7,665 | $ | 429,258 | $ | 534,367 | $ | — | $ | 1,408,927 | ||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
Allowance for loan losses - Loans Individually Evaluated for Impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Allowance for loan losses - Loans Collectively Evaluated for Impairment | $ | 1,886 | $ | 417 | $ | 3,545 | $ | 272 | $ | 4,206 | $ | 3,026 | $ | 1,082 | $ | 14,434 | ||||||||||||||||
Ending Loan Balance - Individually Evaluated for Impairment | $ | 221 | $ | — | $ | 1,785 | $ | — | $ | 173 | $ | 2,309 | $ | — | $ | 4,488 | ||||||||||||||||
Ending Loan Balance - Collectively Evaluated for Impairment | $ | 87,672 | $ | 27,815 | $ | 286,334 | $ | 7,649 | $ | 394,031 | $ | 458,483 | $ | — | $ | 1,261,984 | ||||||||||||||||
Financing Receivable Credit Quality Indicators [Table Text Block] | Loan Credit Quality Indicators | |||||||||||||||||||||||||||||||
The following table presents the credit quality indicators by loan category at December 31, 2014 and December 31, 2013: | ||||||||||||||||||||||||||||||||
Loan Credit Quality Indicators | ||||||||||||||||||||||||||||||||
Commercial | Commercial | Other | ||||||||||||||||||||||||||||||
Commercial | Construction | Real Estate | Consumer | Automobile | Residential | Total | ||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||||||
Credit Risk Profile by Creditworthiness Category: | ||||||||||||||||||||||||||||||||
Satisfactory | $ | 85,949 | $ | 18,815 | $ | 298,932 | $ | 403,696 | ||||||||||||||||||||||||
Special Mention | 2,442 | — | 3,718 | 6,160 | ||||||||||||||||||||||||||||
Substandard | 11,120 | — | 18,647 | 29,767 | ||||||||||||||||||||||||||||
Doubtful | — | — | — | — | ||||||||||||||||||||||||||||
Credit Risk Profile Based on Payment Activity: | ||||||||||||||||||||||||||||||||
Performing | $ | 7,661 | $ | 428,965 | $ | 532,127 | 968,753 | |||||||||||||||||||||||||
Nonperforming | 4 | 411 | 4,477 | 4,892 | ||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
Credit Risk Profile by Creditworthiness Category: | ||||||||||||||||||||||||||||||||
Satisfactory | $ | 79,966 | $ | 27,815 | $ | 267,612 | $ | 375,393 | ||||||||||||||||||||||||
Special Mention | 204 | — | 634 | 838 | ||||||||||||||||||||||||||||
Substandard | 7,723 | — | 19,873 | 27,596 | ||||||||||||||||||||||||||||
Doubtful | — | — | — | — | ||||||||||||||||||||||||||||
Credit Risk Profile Based on Payment Activity: | ||||||||||||||||||||||||||||||||
Performing | $ | 7,649 | $ | 393,985 | $ | 456,308 | $ | 857,942 | ||||||||||||||||||||||||
Nonperforming | — | 219 | 4,484 | 4,703 | ||||||||||||||||||||||||||||
Impaired Financing Receivables [Table Text Block] | Impaired Loans | |||||||||||||||||||||||||||||||
The following table presents information on impaired loans based on whether the impaired loan has a recorded allowance or no recorded allowance: | ||||||||||||||||||||||||||||||||
Impaired Loans | ||||||||||||||||||||||||||||||||
Commercial | Commercial | Other | ||||||||||||||||||||||||||||||
Commercial | Construction | Real Estate | Consumer | Automobile | Residential | Total | ||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||||||
Recorded Investment: | ||||||||||||||||||||||||||||||||
With No Related Allowance | $ | 494 | $ | — | $ | 1,492 | $ | — | $ | 118 | $ | 1,678 | $ | 3,782 | ||||||||||||||||||
With a Related Allowance | — | — | — | — | — | 559 | 559 | |||||||||||||||||||||||||
Unpaid Principal Balance: | ||||||||||||||||||||||||||||||||
With No Related Allowance | $ | 494 | $ | — | $ | 1,492 | $ | — | $ | 118 | $ | 1,678 | $ | 3,782 | ||||||||||||||||||
With a Related Allowance | — | — | — | — | — | 559 | 559 | |||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
Recorded Investment: | ||||||||||||||||||||||||||||||||
With No Related Allowance | $ | 221 | $ | — | $ | 1,785 | $ | — | $ | 173 | $ | 2,309 | $ | 4,488 | ||||||||||||||||||
With a Related Allowance | — | — | — | — | — | — | $ | — | ||||||||||||||||||||||||
Unpaid Principal Balance: | ||||||||||||||||||||||||||||||||
With No Related Allowance | $ | 221 | $ | — | $ | 1,785 | $ | — | $ | 173 | $ | 2,309 | $ | 4,488 | ||||||||||||||||||
With a Related Allowance | — | — | — | — | — | — | $ | — | ||||||||||||||||||||||||
For the Year-To-Date Period Ended: | ||||||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||||||
Average Recorded Balance: | ||||||||||||||||||||||||||||||||
With No Related Allowance | $ | 348 | $ | — | $ | 1,492 | $ | — | $ | 121 | $ | 1,673 | $ | 3,634 | ||||||||||||||||||
With a Related Allowance | — | — | — | — | — | 546 | $ | 546 | ||||||||||||||||||||||||
Interest Income Recognized: | ||||||||||||||||||||||||||||||||
With No Related Allowance | $ | 11 | $ | — | $ | — | $ | — | $ | 7 | $ | 1 | $ | 19 | ||||||||||||||||||
With a Related Allowance | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Cash Basis Income: | ||||||||||||||||||||||||||||||||
With No Related Allowance | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
With a Related Allowance | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Related Allowance | — | — | — | — | — | 109 | $ | 109 | ||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
Average Recorded Balance: | ||||||||||||||||||||||||||||||||
With No Related Allowance | $ | 133 | $ | — | $ | 2,157 | $ | — | $ | 188 | $ | 1,700 | $ | 4,178 | ||||||||||||||||||
With a Related Allowance | 694 | — | — | — | — | — | $ | 694 | ||||||||||||||||||||||||
Interest Income Recognized: | ||||||||||||||||||||||||||||||||
With No Related Allowance | $ | 4 | $ | — | $ | — | $ | — | $ | 9 | $ | 8 | $ | 21 | ||||||||||||||||||
With a Related Allowance | — | — | — | — | — | — | $ | — | ||||||||||||||||||||||||
Cash Basis Income: | ||||||||||||||||||||||||||||||||
With No Related Allowance | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
With a Related Allowance | — | — | — | — | — | — | $ | — | ||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||
Average Recorded Balance: | ||||||||||||||||||||||||||||||||
With No Related Allowance | $ | 56 | $ | — | $ | 2,241 | $ | — | $ | 236 | $ | 1,599 | $ | 4,132 | ||||||||||||||||||
With a Related Allowance | $ | 694 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 694 | ||||||||||||||||||
Interest Income Recognized: | ||||||||||||||||||||||||||||||||
With No Related Allowance | $ | 6 | $ | — | $ | 64 | $ | — | $ | 12 | $ | 9 | $ | 91 | ||||||||||||||||||
With a Related Allowance | — | — | — | — | — | — | $ | — | ||||||||||||||||||||||||
Cash Basis Income: | ||||||||||||||||||||||||||||||||
With No Related Allowance | $ | — | $ | — | $ | 64 | $ | — | $ | — | $ | — | $ | 64 | ||||||||||||||||||
With a Related Allowance | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Loans Modified in Trouble Debt Restructurings | |||||||||||||||||||||||||||||||
The following table presents information on loans modified in trouble debt restructurings during the periods indicated: | ||||||||||||||||||||||||||||||||
Loans Modified in Trouble Debt Restructurings During the Period | ||||||||||||||||||||||||||||||||
Commercial | Commercial | Other | ||||||||||||||||||||||||||||||
Commercial | Construction | Real Estate | Consumer | Automobile | Residential | Total | ||||||||||||||||||||||||||
For the Year Ended: | ||||||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||||||
Number of Loans | — | — | — | — | 4 | 1 | 5 | |||||||||||||||||||||||||
Pre-Modification Outstanding Recorded Investment | $ | — | $ | — | $ | — | $ | — | $ | 36 | $ | 574 | $ | 610 | ||||||||||||||||||
Post-Modification Outstanding Recorded Investment | $ | — | $ | — | $ | — | $ | — | $ | 36 | $ | 574 | $ | 610 | ||||||||||||||||||
Subsequent Default, Number of Contracts | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Subsequent Default, Recorded Investment | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Commitments to lend additional funds to modified loans | — | — | — | — | — | — | — | |||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
Number of Loans | 1 | — | — | — | 9 | — | 10 | |||||||||||||||||||||||||
Pre-Modification Outstanding Recorded Investment | $ | 169 | $ | — | $ | — | $ | — | $ | 88 | $ | — | $ | 257 | ||||||||||||||||||
Post-Modification Outstanding Recorded Investment | $ | 200 | $ | — | $ | — | $ | — | $ | 88 | $ | — | $ | 288 | ||||||||||||||||||
Subsequent Default, Number of Contracts | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Subsequent Default, Recorded Investment | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Commitments to lend additional funds to modified loans | — | — | — | — | — | — | — | |||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||
Number of Loans | — | — | 2 | — | 17 | — | 19 | |||||||||||||||||||||||||
Pre-Modification Outstanding Recorded Investment | $ | — | $ | — | $ | 47 | $ | — | $ | 160 | $ | — | $ | 207 | ||||||||||||||||||
Post-Modification Outstanding Recorded Investment | $ | — | $ | — | $ | 47 | $ | — | $ | 160 | $ | — | $ | 207 | ||||||||||||||||||
Subsequent Default, Number of Contracts | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Subsequent Default, Recorded Investment | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Commitments to lend additional funds to modified loans | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Financing Receivable Supplemental Information [Table Text Block] | Schedule of Supplemental Loan Information | |||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
Supplemental Information: | ||||||||||||||||||||||||||||||||
Unamortized deferred loan origination costs, net of deferred loan | $ | 2,771 | $ | 2,152 | ||||||||||||||||||||||||||||
origination fees, included in the above balances | ||||||||||||||||||||||||||||||||
Overdrawn deposit accounts, included in the above balances | 973 | 501 | ||||||||||||||||||||||||||||||
Pledged loans secured by one-to-four family residential mortgages | 313,355 | 270,372 | ||||||||||||||||||||||||||||||
under a blanket collateral agreement to secure borrowings from | ||||||||||||||||||||||||||||||||
the Federal Home Loan Bank of New York | ||||||||||||||||||||||||||||||||
Residential real estate loans serviced for Freddie Mac, not included | 158,598 | 156,593 | ||||||||||||||||||||||||||||||
in the balances above | ||||||||||||||||||||||||||||||||
Loans held for sale at period-end, included in the above balances | 398 | 64 | ||||||||||||||||||||||||||||||
Loans to Related Parties: | ||||||||||||||||||||||||||||||||
Balance at beginning of year | $ | 7,769 | $ | 17,447 | ||||||||||||||||||||||||||||
Adjustment due to change in composition of related parties | — | (8,819 | ) | |||||||||||||||||||||||||||||
New loans and renewals, during the year | 694 | 2,253 | ||||||||||||||||||||||||||||||
Repayments, during the year | (2,460 | ) | (3,112 | ) | ||||||||||||||||||||||||||||
Balance at end of year | $ | 6,003 | $ | 7,769 | ||||||||||||||||||||||||||||
Premises_and_Equipment_Tables
Premises and Equipment (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Property, Plant and Equipment [Abstract] | ||||||||
Property, Plant and Equipment [Table Text Block] | A summary of premises and equipment at December 31, 2014 and 2013 is presented below: | |||||||
2014 | 2013 | |||||||
Land and Bank Premises | $ | 35,062 | $ | 35,114 | ||||
Equipment, Furniture and Fixtures | 22,003 | 20,851 | ||||||
Leasehold Improvements | 1,218 | 1,190 | ||||||
Total Cost | 58,283 | 57,155 | ||||||
Accumulated Depreciation and Amortization | (29,795 | ) | (28,001 | ) | ||||
Net Premises and Equipment | $ | 28,488 | $ | 29,154 | ||||
Amounts charged to expense for depreciation totaled $2,238, $1,928 and $1,521 in 2014, 2013 and 2012, respectively. |
Other_Intangible_Assets_Tables
Other Intangible Assets (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | The following table presents information on Arrow’s other intangible assets (other than goodwill) as of December 31, 2014, 2013 and 2012: | |||||||||||||||
Depositor | Mortgage | Customer Intangibles1 | Total | |||||||||||||
Intangibles1 | Servicing | |||||||||||||||
Rights2 | ||||||||||||||||
Gross Carrying Amount, December 31, 2014 | $ | 2,247 | $ | 1,715 | $ | 4,451 | $ | 8,413 | ||||||||
Accumulated Amortization | (2,237 | ) | (883 | ) | (1,668 | ) | (4,788 | ) | ||||||||
Net Carrying Amount, December 31, 2014 | $ | 10 | $ | 832 | $ | 2,783 | $ | 3,625 | ||||||||
Gross Carrying Amount, December 31, 2013 | $ | 2,247 | $ | 1,582 | $ | 4,451 | $ | 8,280 | ||||||||
Accumulated Amortization | (2,186 | ) | (622 | ) | (1,332 | ) | (4,140 | ) | ||||||||
Net Carrying Amount, December 31, 2013 | $ | 61 | $ | 960 | $ | 3,119 | $ | 4,140 | ||||||||
Rollforward of Intangible Assets: | ||||||||||||||||
Balance, December 31, 2011 | $ | 286 | $ | 599 | $ | 3,864 | $ | 4,749 | ||||||||
Intangible Assets Acquired | — | 417 | — | 417 | ||||||||||||
Amortization of Intangible Assets | (133 | ) | (157 | ) | (384 | ) | (674 | ) | ||||||||
Balance, December 31, 2012 | 153 | 859 | 3,480 | 4,492 | ||||||||||||
Intangible Assets Acquired | — | 331 | — | 331 | ||||||||||||
Amortization of Intangible Assets | (92 | ) | (230 | ) | (361 | ) | (683 | ) | ||||||||
Balance, December 31, 2013 | 61 | 960 | 3,119 | 4,140 | ||||||||||||
Intangible Assets Acquired | — | 133 | — | 133 | ||||||||||||
Amortization of Intangible Assets | (51 | ) | (261 | ) | (336 | ) | (648 | ) | ||||||||
Balance, December 31, 2014 | $ | 10 | $ | 832 | $ | 2,783 | $ | 3,625 | ||||||||
1 Amortization of depositor intangibles and customer intangibles are reported in the consolidated statements of income as a component of other operating expense. | ||||||||||||||||
2 Amortization of mortgage servicing rights is reported in the consolidated statements of income as a reduction of mortgage servicing fee income, which is included with fees for other services to customers. | ||||||||||||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | The following table presents the remaining estimated annual amortization expense for Arrow's intangible assets as of December 31, 2014: | |||||||||||||||
Depositor | Mortgage | Customer Intangibles1 | Total | |||||||||||||
Intangibles1 | Servicing | |||||||||||||||
Rights2 | ||||||||||||||||
Estimated Annual Amortization Expense: | ||||||||||||||||
2015 | $ | 10 | $ | 252 | $ | 319 | $ | 581 | ||||||||
2016 | — | 232 | 301 | 533 | ||||||||||||
2017 | — | 172 | 281 | 453 | ||||||||||||
2018 | — | 118 | 263 | 381 | ||||||||||||
2019 | — | 45 | 245 | 290 | ||||||||||||
Later Years | — | 13 | 1,374 | 1,387 | ||||||||||||
Total | $ | 10 | $ | 832 | $ | 2,783 | $ | 3,625 | ||||||||
1 Amortization of depositor intangibles and customer intangibles are reported in the consolidated statements of income as a component of other operating expense. | ||||||||||||||||
2 Amortization of mortgage servicing rights is reported in the consolidated statements of income as a reduction of mortgage servicing fee income, which is included with fees for other services to customers. |
Guarantees_Tables
Guarantees (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Guarantees [Abstract] | ||||||||
Schedule of Guarantor Obligations [Table Text Block] | The following table presents the notional amount and fair value of Arrow's off-balance sheet commitments to extend credit and commitments under standby letters of credit as of December 31, 2014 and 2013: | |||||||
Balance at December 31, | 2014 | 2013 | ||||||
Notional Amount: | ||||||||
Commitments to Extend Credit | $ | 249,803 | $ | 237,940 | ||||
Standby Letters of Credit | 3,317 | 3,345 | ||||||
Fair Value: | ||||||||
Commitments to Extend Credit | $ | — | $ | — | ||||
Standby Letters of Credit | 39 | 65 | ||||||
Time_Deposits_Tables
Time Deposits (Tables) | 12 Months Ended | |||
Dec. 31, 2014 | ||||
Time Deposits [Abstract] | ||||
Maturities of Time Deposits [Table Text Block] | The following summarizes the contractual maturities of time deposits during years subsequent to December 31, 2014: | |||
Year of Maturity | Total Time | |||
Deposits | ||||
2015 | $ | 124,406 | ||
2016 | 28,487 | |||
2017 | 19,869 | |||
2018 | 11,845 | |||
2019 | 17,126 | |||
2020 and Beyond | 4,110 | |||
Total | $ | 205,843 | ||
Debt_Tables
Debt (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||
Schedule of Short-term Debt [Table Text Block] | Schedule of Short-Term Borrowings: | ||||||||||||||
2014 | 2013 | ||||||||||||||
Balances at December 31: | |||||||||||||||
Overnight Advances from the Federal Home Loan Bank of New York | $ | 41,000 | $ | 53,000 | |||||||||||
Securities Sold Under Agreements to Repurchase | 19,421 | 11,777 | |||||||||||||
Total Short-Term Borrowings | $ | 60,421 | $ | 64,777 | |||||||||||
Maximum Borrowing Capacity at December 31: | |||||||||||||||
Federal Funds Purchased | $ | 35,000 | $ | 30,000 | |||||||||||
Overnight Advances from the Federal Home Loan Bank of New York | 203,885 | 214,000 | |||||||||||||
Federal Reserve Bank of New York | 307,159 | 302,000 | |||||||||||||
Schedule of Maturities of Long-term Debt [Table Text Block] | Maturity Schedule of FHBLNY Term Advances: | ||||||||||||||
Balances | Weighted Average Rate | ||||||||||||||
Final Maturity | 2014 | 2013 | 2014 | 2013 | |||||||||||
First Year | $ | 10,000 | $ | 10,000 | 3.88 | % | 1.43 | % | |||||||
Second Year | — | 10,000 | — | % | 3.88 | % | |||||||||
Third Year | — | — | — | % | — | % | |||||||||
Total | $ | 10,000 | $ | 20,000 | 3.88 | % | 2.66 | % | |||||||
Schedule of Long-term Debt Instruments [Table Text Block] | Schedule of Guaranteed Preferred Beneficial Interests in Corporation's Junior Subordinated Debentures | ||||||||||||||
2014 | 2013 | ||||||||||||||
ACST II | |||||||||||||||
Balance at December 31, | $ | 10,000 | $ | 10,000 | |||||||||||
Period-End Interest Rate | 3.38 | % | 3.4 | % | |||||||||||
ACST III | |||||||||||||||
Balance at December 31, | $ | 10,000 | $ | 10,000 | |||||||||||
Period-End Interest Rate | 2.23 | % | 2.25 | % |
Comprehensive_Income_Tables
Comprehensive Income (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||||||||||||||
Schedule of Comprehensive Income (Loss) [Table Text Block] | The following table presents the components of other comprehensive income for the years ended December 31, 2014, 2013 and 2012: | |||||||||||||||
Schedule of Comprehensive Income | ||||||||||||||||
Before-Tax | Tax | Net-of-Tax | ||||||||||||||
Amount | (Expense) | Amount | ||||||||||||||
Benefit | ||||||||||||||||
2014 | ||||||||||||||||
Net Unrealized Securities Holding Gains Arising During the Period | $ | 356 | $ | (124 | ) | $ | 232 | |||||||||
Reclassification Adjustment for Securities Gains Included in Net Income | (110 | ) | 43 | (67 | ) | |||||||||||
Net Retirement Plan Loss | (4,610 | ) | 1,764 | (2,846 | ) | |||||||||||
Net Retirement Plan Prior Service Credit | (570 | ) | 223 | (347 | ) | |||||||||||
Amortization of Net Retirement Plan Actuarial Loss | 474 | (186 | ) | 288 | ||||||||||||
Accretion of Net Retirement Plan Prior Service Credit | (87 | ) | 34 | (53 | ) | |||||||||||
Other Comprehensive Income | $ | (4,547 | ) | $ | 1,754 | $ | (2,793 | ) | ||||||||
2013 | ||||||||||||||||
Net Unrealized Securities Holding Gains Arising During the Period | $ | (4,843 | ) | $ | 1,918 | $ | (2,925 | ) | ||||||||
Reclassification Adjustment for Securities Gains Included in Net Income | (540 | ) | 214 | (326 | ) | |||||||||||
Net Retirement Plan Gain | 10,640 | (4,215 | ) | 6,425 | ||||||||||||
Amortization of Net Retirement Plan Actuarial Loss | 1,513 | (599 | ) | 914 | ||||||||||||
Accretion of Net Retirement Plan Prior Service Credit | 2 | (1 | ) | 1 | ||||||||||||
Other Comprehensive Income | $ | 6,772 | $ | (2,683 | ) | $ | 4,089 | |||||||||
2012 | ||||||||||||||||
Net Unrealized Securities Holding Gains Arising During the Period | $ | (1,094 | ) | $ | 433 | $ | (661 | ) | ||||||||
Reclassification Adjustment for Securities Gains Included in Net Income | (865 | ) | 343 | (522 | ) | |||||||||||
Net Retirement Plan Loss | (2,218 | ) | 878 | (1,340 | ) | |||||||||||
Net Retirement Plan Prior Service Credit | (405 | ) | 160 | (245 | ) | |||||||||||
Amortization of Net Retirement Plan Actuarial Loss | 1,677 | (664 | ) | 1,013 | ||||||||||||
Accretion of Net Retirement Plan Prior Service Credit | (20 | ) | 8 | (12 | ) | |||||||||||
Other Comprehensive Income | $ | (2,925 | ) | $ | 1,158 | $ | (1,767 | ) | ||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The following table presents the changes in accumulated other comprehensive income by component: | |||||||||||||||
Changes in Accumulated Other Comprehensive Income (Loss) by Component (1) | ||||||||||||||||
Unrealized | Defined Benefit Plan Items | |||||||||||||||
Gains and | ||||||||||||||||
Losses on | Net Prior | |||||||||||||||
Available-for- | Net Gain | Service | ||||||||||||||
Sale Securities | (Loss) | (Cost ) Credit | Total | |||||||||||||
For the Year-To-Date periods ended: | ||||||||||||||||
31-Dec-13 | $ | 2,374 | $ | (6,697 | ) | $ | (50 | ) | $ | (4,373 | ) | |||||
Other comprehensive income (loss) before reclassifications | 232 | (2,846 | ) | (347 | ) | (2,961 | ) | |||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (67 | ) | 288 | (53 | ) | 168 | ||||||||||
Net current-period other comprehensive income | 165 | (2,558 | ) | (400 | ) | (2,793 | ) | |||||||||
December 31, 2014 | $ | 2,539 | $ | (9,255 | ) | $ | (450 | ) | $ | (7,166 | ) | |||||
December 31, 2012 | $ | 5,625 | $ | (14,036 | ) | $ | (51 | ) | $ | (8,462 | ) | |||||
Other comprehensive income (loss) before reclassifications | (2,925 | ) | 6,425 | — | 3,500 | |||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (326 | ) | 914 | 1 | 589 | |||||||||||
Net current-period other comprehensive income | (3,251 | ) | 7,339 | 1 | 4,089 | |||||||||||
December 31, 2013 | $ | 2,374 | $ | (6,697 | ) | $ | (50 | ) | $ | (4,373 | ) | |||||
December 31, 2011 | $ | 6,808 | $ | (13,709 | ) | $ | 206 | $ | (6,695 | ) | ||||||
Other comprehensive income (loss) before reclassifications | (661 | ) | (1,340 | ) | (245 | ) | (2,246 | ) | ||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (522 | ) | 1,013 | (12 | ) | 479 | ||||||||||
Net current-period other comprehensive income | (1,183 | ) | (327 | ) | (257 | ) | (1,767 | ) | ||||||||
December 31, 2012 | $ | 5,625 | $ | (14,036 | ) | $ | (51 | ) | $ | (8,462 | ) | |||||
(1) All amounts are net of tax. Amounts in parentheses indicate debits. | ||||||||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | The following table presents the reclassifications out of accumulated other comprehensive income: | |||||||||||||||
Reclassifications Out of Accumulated Other Comprehensive Income (1) | ||||||||||||||||
Amounts Reclassified | ||||||||||||||||
Details about Accumulated Other | from Accumulated Other | Affected Line Item in the Statement | ||||||||||||||
Comprehensive Income Components | Comprehensive Income | Where Net Income Is Presented | ||||||||||||||
For the Year-to-date periods ended: | ||||||||||||||||
December 31, 2014 | ||||||||||||||||
Unrealized gains and losses on available-for-sale securities | ||||||||||||||||
$ | 110 | Gain on Securities Transactions, Net | ||||||||||||||
110 | Total before tax | |||||||||||||||
(43 | ) | Provision for Income Taxes | ||||||||||||||
$ | 67 | Net of tax | ||||||||||||||
Amortization of defined benefit pension items | ||||||||||||||||
Prior-service costs | $ | 87 | (2) | Salaries and Employee Benefits | ||||||||||||
Actuarial gains/(losses) | (474 | ) | (2) | Salaries and Employee Benefits | ||||||||||||
(387 | ) | Total before tax | ||||||||||||||
152 | Provision for Income Taxes | |||||||||||||||
$ | (235 | ) | Net of tax | |||||||||||||
Total reclassifications for the period | $ | (168 | ) | Net of tax | ||||||||||||
December 31, 2013 | ||||||||||||||||
Unrealized gains and losses on available-for-sale securities | ||||||||||||||||
$ | 540 | Gain on Securities Transactions, Net | ||||||||||||||
540 | Total before tax | |||||||||||||||
(214 | ) | Provision for Income Taxes | ||||||||||||||
$ | 326 | Net of tax | ||||||||||||||
Amortization of defined benefit pension items | ||||||||||||||||
Prior-service costs | (2 | ) | (2) | Salaries and Employee Benefits | ||||||||||||
Actuarial gains/(losses) | $ | (1,513 | ) | (2) | Salaries and Employee Benefits | |||||||||||
(1,515 | ) | Total before tax | ||||||||||||||
600 | Provision for Income Taxes | |||||||||||||||
$ | (915 | ) | Net of tax | |||||||||||||
Total reclassifications for the period | $ | (589 | ) | Net of tax | ||||||||||||
Reclassifications Out of Accumulated Other Comprehensive Income (1) | ||||||||||||||||
Amounts Reclassified | ||||||||||||||||
Details about Accumulated Other | from Accumulated Other | Affected Line Item in the Statement | ||||||||||||||
Comprehensive Income Components | Comprehensive Income | Where Net Income Is Presented | ||||||||||||||
December 31, 2012 | ||||||||||||||||
Unrealized gains and losses on available-for-sale securities | ||||||||||||||||
$ | 865 | Gain on Securities Transactions, Net | ||||||||||||||
865 | Total before tax | |||||||||||||||
(343 | ) | Provision for Income Taxes | ||||||||||||||
$ | 522 | Net of tax | ||||||||||||||
Amortization of defined benefit pension items | ||||||||||||||||
Prior-service costs | 20 | (2) | Salaries and Employee Benefits | |||||||||||||
Actuarial gains/(losses) | $ | (1,677 | ) | (2) | Salaries and Employee Benefits | |||||||||||
(1,657 | ) | Total before tax | ||||||||||||||
656 | Provision for Income Taxes | |||||||||||||||
$ | (1,001 | ) | Net of tax | |||||||||||||
Total reclassifications for the period | $ | (479 | ) | Net of tax | ||||||||||||
(1) Amounts in parentheses indicate debits to profit/loss. | ||||||||||||||||
(2) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see pension footnote for additional details). |
Stock_Based_Compensation_Table
Stock Based Compensation (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | Roll Forward Schedule of Stock Option Plan by Shares and Weighted Average Exercise Prices | ||||||||||||||||||
Stock Option Plans | |||||||||||||||||||
Roll Forward of Shares Outstanding: | |||||||||||||||||||
Outstanding at January 1, 2014 | 397,177 | ||||||||||||||||||
Granted | 75,518 | ||||||||||||||||||
Exercised | (62,269 | ) | |||||||||||||||||
Forfeited | (8,984 | ) | |||||||||||||||||
Outstanding at December 31, 2014 | 401,442 | ||||||||||||||||||
Exercisable at December 31, 2014 | 266,654 | ||||||||||||||||||
Vested and Expected to Vest | 134,788 | ||||||||||||||||||
Roll Forward of Shares Outstanding - Weighted Average Exercise Price: | |||||||||||||||||||
Outstanding at January 1, 2014 | $ | 22.44 | |||||||||||||||||
Granted | 24.51 | ||||||||||||||||||
Exercised | 23.35 | ||||||||||||||||||
Forfeited | 23.89 | ||||||||||||||||||
Outstanding at December 31, 2014 | 22.66 | ||||||||||||||||||
Exercisable at December 31, 2014 | 21.74 | ||||||||||||||||||
Vested and Expected to Vest | 24.47 | ||||||||||||||||||
Weighted Average Remaining Contractual Life (in years): | |||||||||||||||||||
Outstanding at December 31, 2014 | 5.83 | ||||||||||||||||||
Exercisable at December 31, 2014 | 4.67 | ||||||||||||||||||
Vested and Expected to Vest | 8.13 | ||||||||||||||||||
Aggregate Intrinsic Value: | |||||||||||||||||||
Outstanding at December 31, 2014 | $ | 1,939 | |||||||||||||||||
Exercisable at December 31, 2014 | 1,533 | ||||||||||||||||||
Vested and Expected to Vest | 406 | ||||||||||||||||||
Shares Available for Grant at Period-End | 445,000 | ||||||||||||||||||
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | Schedule of Shares Authorized Under the Stock Option Plan by Exercise Price Range | ||||||||||||||||||
Exercise Price Ranges | |||||||||||||||||||
$18.71 to $19.48 | $20.82 | $21.83 | $23.30 to $23.95 | $24.51 to $25.27 | Total | ||||||||||||||
Outstanding Options at | |||||||||||||||||||
31-Dec-14 | |||||||||||||||||||
Number of Shares Outstanding | 72,516 | 27,470 | 64,829 | 153,236 | 83,391 | 401,442 | |||||||||||||
Weighted-Average Remaining Contractual Life (in years) | 3.69 | 1.92 | 5.08 | 6.66 | 8.05 | 5.83 | |||||||||||||
Weighted-Average Exercise Price | $ | 19.24 | $ | 20.82 | $ | 21.83 | $ | 23.61 | $ | 24.6 | $ | 22.55 | |||||||
Exercisable Options at | |||||||||||||||||||
31-Dec-14 | |||||||||||||||||||
Number of Shares Outstanding | 72,516 | 27,470 | 64,829 | 92,333 | 9,506 | 266,654 | |||||||||||||
Weighted-Average Remaining Contractual Life (in years) | 3.69 | 1.92 | 5.08 | 6.44 | 8.05 | 4.67 | |||||||||||||
Weighted-Average Exercise Price | $ | 19.24 | $ | 20.82 | $ | 21.83 | $ | 23.56 | $ | 25.27 | $ | 21.74 | |||||||
Other Stock Based Compensation Disclosure Table [Table Text Block] | Schedule of Other Stock Option Plan Information | ||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||
Shares Granted | 75,518 | 10,404 | 78,848 | ||||||||||||||||
Weighted Average Grant Date Information: | |||||||||||||||||||
Fair Value of Options Granted | $ | 5.92 | $ | 5.35 | $ | 5.77 | |||||||||||||
Fair Value Assumptions: | |||||||||||||||||||
Dividend Yield | 3.97 | % | 4.2 | % | 3.93 | % | |||||||||||||
Expected Volatility | 35.3 | % | 36.57 | % | 37.43 | % | |||||||||||||
Risk Free Interest Rate | 2.19 | % | 1.31 | % | 1.22 | % | |||||||||||||
Expected Lives (in years) | 6.85 | 6.71 | 6.46 | ||||||||||||||||
Amount Expensed During the Year | $ | 360 | $ | 372 | $ | 424 | |||||||||||||
Compensation Costs for Non-vested Awards Not Yet Recognized | 478 | 420 | 737 | ||||||||||||||||
Weighted Average Expected Vesting Period, In Years | 1.68 | 1.45 | 1.71 | ||||||||||||||||
Proceeds From Stock Options Exercised | $ | 1,454 | $ | 1,254 | $ | 2,105 | |||||||||||||
Tax Benefits Related to Stock Options Exercised | 25 | 23 | 68 | ||||||||||||||||
Intrinsic Value of Stock Options Exercised | 170 | 267 | 2,434 | ||||||||||||||||
Schedule of Employee Stock Ownership Plan (ESOP) Disclosures [Table Text Block] | Schedule of ESOP Compensation Expense | ||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||
ESOP Compensation Expense | $ | 800 | $ | 600 | $ | 550 | |||||||||||||
As the debt is repaid, shares are released from collateral based on the proportion of debt paid to total debt outstanding for the year and allocated to active employees. | |||||||||||||||||||
Shares pledged as collateral are reported as unallocated ESOP shares in stockholders’ equity. As shares are released from collateral, Arrow reports compensation expense equal to the current average market price of the shares, and the shares become outstanding for earnings per share computations. The ESOP shares as of December 31, 2014 were as follows: | |||||||||||||||||||
Schedule of Shares in ESOP Plan | |||||||||||||||||||
ESOP Plan Shares: | 2014 | ||||||||||||||||||
Allocated Shares | 690,853 | ||||||||||||||||||
Shares Released for Allocation During 2013 | 17,300 | ||||||||||||||||||
Unallocated Shares | 71,748 | ||||||||||||||||||
Total ESOP Shares | 779,901 | ||||||||||||||||||
Market Value of Unallocated Shares | $ | 1,972 | |||||||||||||||||
Retirement_Benefit_Plans_Table
Retirement Benefit Plans (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | |||||||||||||||||||||||||
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | The following tables set forth changes in the plans’ benefit obligations (projected benefit obligation for pension benefits and accumulated benefit obligation for postretirement benefits) and changes in the plans’ assets and the funded status of the pension plans and other postretirement benefit plan at December 31: | ||||||||||||||||||||||||
Schedule of Defined Benefit Plan Disclosures | |||||||||||||||||||||||||
Employees' | Select | Postretirement | |||||||||||||||||||||||
Pension | Executive | Benefit | |||||||||||||||||||||||
Plan | Retirement | Plans | |||||||||||||||||||||||
Plan | |||||||||||||||||||||||||
Defined Benefit Plan Funded Status | |||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Fair Value of Plan Assets | $ | 45,704 | $ | — | $ | — | |||||||||||||||||||
Benefit Obligation | 36,966 | 5,072 | 9,170 | ||||||||||||||||||||||
Funded Status of Plan | $ | 8,738 | $ | (5,072 | ) | $ | (9,170 | ) | |||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Fair Value of Plan Assets | $ | 44,653 | $ | — | $ | — | |||||||||||||||||||
Benefit Obligation | 33,259 | 4,459 | 7,619 | ||||||||||||||||||||||
Funded Status of Plan | $ | 11,394 | $ | (4,459 | ) | $ | (7,619 | ) | |||||||||||||||||
Change in Benefit Obligation | |||||||||||||||||||||||||
Benefit Obligation, at January 1, 2014 | $ | 33,259 | $ | 4,459 | $ | 7,619 | |||||||||||||||||||
Service Cost | 1,410 | 10 | 173 | ||||||||||||||||||||||
Interest Cost | 1,621 | 206 | 374 | ||||||||||||||||||||||
Plan Participants' Contributions | — | — | 383 | ||||||||||||||||||||||
Amendments | — | — | 570 | ||||||||||||||||||||||
Actuarial Gain | 2,909 | 870 | 884 | ||||||||||||||||||||||
Benefits Paid | (2,233 | ) | (473 | ) | (833 | ) | |||||||||||||||||||
Benefit Obligation, at December 31, 2014 | $ | 36,966 | $ | 5,072 | $ | 9,170 | |||||||||||||||||||
Schedule of Defined Benefit Plan Disclosures | |||||||||||||||||||||||||
Employees' | Select | Postretirement | |||||||||||||||||||||||
Pension | Executive | Benefit | |||||||||||||||||||||||
Plan | Retirement | Plans | |||||||||||||||||||||||
Plan | |||||||||||||||||||||||||
Benefit Obligation, at January 1, 2013 | $ | 37,046 | $ | 5,324 | $ | 9,213 | |||||||||||||||||||
Service Cost | 1,506 | — | 211 | ||||||||||||||||||||||
Interest Cost | 1,261 | 163 | 308 | ||||||||||||||||||||||
Plan Participants' Contributions | — | — | 368 | ||||||||||||||||||||||
Amendments | — | — | — | ||||||||||||||||||||||
Actuarial Loss | (3,820 | ) | (555 | ) | (1,648 | ) | |||||||||||||||||||
Benefits Paid | (2,734 | ) | (473 | ) | (833 | ) | |||||||||||||||||||
Benefit Obligation, at December 31, 2013 | $ | 33,259 | $ | 4,459 | $ | 7,619 | |||||||||||||||||||
Change in Fair Value of Plan Assets | |||||||||||||||||||||||||
Fair Value of Plan Assets, at January 1, 2014 | $ | 44,653 | $ | — | $ | — | |||||||||||||||||||
Actual Return on Plan Assets | 3,284 | — | — | ||||||||||||||||||||||
Employer Contributions | — | 473 | 450 | ||||||||||||||||||||||
Plan Participants' Contributions | — | — | 383 | ||||||||||||||||||||||
Benefits Paid | (2,233 | ) | (473 | ) | (833 | ) | |||||||||||||||||||
Fair Value of Plan Assets, at December 31, 2014 | $ | 45,704 | $ | — | $ | — | |||||||||||||||||||
Change in Fair Value of Plan Assets, continued | |||||||||||||||||||||||||
Fair Value of Plan Assets, at January 1, 2013 | $ | 39,880 | $ | — | $ | — | |||||||||||||||||||
Actual Return on Plan Assets | 7,507 | — | — | ||||||||||||||||||||||
Employer Contributions | — | 473 | 465 | ||||||||||||||||||||||
Plan Participants' Contributions | — | — | 368 | ||||||||||||||||||||||
Benefits Paid | (2,734 | ) | (473 | ) | (833 | ) | |||||||||||||||||||
Fair Value of Plan Assets, at December 31, 2013 | $ | 44,653 | $ | — | $ | — | |||||||||||||||||||
Accumulated Benefit Obligation at December 31, 2014 | $ | 36,530 | $ | 5,072 | $ | 9,170 | |||||||||||||||||||
Amounts Recognized in the Consolidated Balance Sheets | |||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Prepaid Pension Asset | $ | 8,738 | $ | — | — | ||||||||||||||||||||
Accrued Benefit Liability | — | (5,072 | ) | (9,170 | ) | ||||||||||||||||||||
Net Benefit Recognized | $ | 8,738 | $ | (5,072 | ) | $ | (9,170 | ) | |||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Prepaid Pension Asset | $ | 11,394 | $ | — | — | ||||||||||||||||||||
Accrued Benefit Liability | — | (4,459 | ) | (7,619 | ) | ||||||||||||||||||||
Net Benefit Recognized | $ | 11,394 | $ | (4,459 | ) | $ | (7,619 | ) | |||||||||||||||||
Amounts Recognized in Other Comprehensive Income (Loss) | |||||||||||||||||||||||||
For the Year Ended December 31, 2014 | |||||||||||||||||||||||||
Net Unamortized Gain Arising During the Period | $ | 2,855 | $ | 871 | $ | 884 | |||||||||||||||||||
Net Prior Service Cost Arising During the Period | — | — | 570 | ||||||||||||||||||||||
Amortization of Net Loss | (356 | ) | (93 | ) | (25 | ) | |||||||||||||||||||
Amortization of Prior Service (Cost) Credit | 45 | (72 | ) | 114 | |||||||||||||||||||||
Total Other Comprehensive (Loss) Income for Pension and | $ | 2,544 | $ | 706 | $ | 1,543 | |||||||||||||||||||
Other Postretirement Benefit Plans | |||||||||||||||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||||||
Net Unamortized Loss Arising During the Period | $ | (8,438 | ) | $ | (554 | ) | $ | (1,648 | ) | ||||||||||||||||
Net Prior Service Cost Arising During the Period | — | — | — | ||||||||||||||||||||||
Amortization of Net Loss | (1,231 | ) | (140 | ) | (142 | ) | |||||||||||||||||||
Amortization of Prior Service (Cost) Credit | (37 | ) | (79 | ) | 114 | ||||||||||||||||||||
Total Other Comprehensive (Loss) Income for Pension and | $ | (9,706 | ) | $ | (773 | ) | $ | (1,676 | ) | ||||||||||||||||
Other Postretirement Benefit Plans | |||||||||||||||||||||||||
Schedule of Defined Benefit Plan Disclosures | |||||||||||||||||||||||||
Employees' | Select | Postretirement | |||||||||||||||||||||||
Pension | Executive | Benefit | |||||||||||||||||||||||
Plan | Retirement | Plans | |||||||||||||||||||||||
Plan | |||||||||||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||||||
Net Unamortized Loss Arising During the Period | $ | 1,286 | $ | 441 | $ | 491 | |||||||||||||||||||
Net Prior Service Cost Arising During the Period | — | 405 | — | ||||||||||||||||||||||
Amortization of Net Loss | (1,387 | ) | (156 | ) | (134 | ) | |||||||||||||||||||
Amortization of Prior Service (Cost) Credit | (41 | ) | (53 | ) | 114 | ||||||||||||||||||||
Total Other Comprehensive (Loss) Income for Pension and | $ | (142 | ) | $ | 637 | $ | 471 | ||||||||||||||||||
Other Postretirement Benefit Plans | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income | |||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Net Actuarial Loss | $ | 10,856 | $ | 2,452 | $ | 1,919 | |||||||||||||||||||
Prior Service (Credit) Cost | (210 | ) | 570 | 379 | |||||||||||||||||||||
Total Accumulated Other Comprehensive Income, Before Tax | $ | 10,646 | $ | 3,022 | $ | 2,298 | |||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Net Actuarial Loss | $ | 8,357 | $ | 1,674 | $ | 1,060 | |||||||||||||||||||
Prior Service (Credit) Cost | (255 | ) | 642 | (305 | ) | ||||||||||||||||||||
Total Accumulated Other Comprehensive Income, Before Tax | $ | 8,102 | $ | 2,316 | $ | 755 | |||||||||||||||||||
Amounts that will be Amortized from Accumulated | |||||||||||||||||||||||||
Other Comprehensive Income the Next Year | |||||||||||||||||||||||||
Net Actuarial Loss | $ | 556 | $ | 121 | $ | 95 | |||||||||||||||||||
Prior Service (Credit) Cost | $ | (83 | ) | $ | 58 | $ | (31 | ) | |||||||||||||||||
Net Periodic Benefit Cost | |||||||||||||||||||||||||
For the Year Ended December 31, 2014 | |||||||||||||||||||||||||
Service Cost | $ | 1,410 | $ | 10 | $ | 173 | |||||||||||||||||||
Interest Cost | 1,621 | 206 | 374 | ||||||||||||||||||||||
Expected Return on Plan Assets | (3,230 | ) | — | — | |||||||||||||||||||||
Amortization of Prior Service (Credit) Cost | (45 | ) | 72 | (114 | ) | ||||||||||||||||||||
Amortization of Net Loss | 356 | 93 | 25 | ||||||||||||||||||||||
Net Periodic Benefit Cost | $ | 112 | $ | 381 | $ | 458 | |||||||||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||||||
Service Cost | $ | 1,506 | $ | — | $ | 211 | |||||||||||||||||||
Interest Cost | 1,261 | 163 | 308 | ||||||||||||||||||||||
Expected Return on Plan Assets | (2,889 | ) | — | — | |||||||||||||||||||||
Amortization of Prior Service (Credit) Cost | 37 | 79 | (114 | ) | |||||||||||||||||||||
Amortization of Net Loss | 1,232 | 139 | 142 | ||||||||||||||||||||||
Net Periodic Benefit Cost | $ | 1,147 | $ | 381 | $ | 547 | |||||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||||||
Service Cost | $ | 1,467 | $ | 87 | $ | 202 | |||||||||||||||||||
Interest Cost | 1,436 | 190 | 338 | ||||||||||||||||||||||
Expected Return on Plan Assets | (2,865 | ) | — | — | |||||||||||||||||||||
Amortization of Prior Service (Credit) Cost | 41 | 53 | (114 | ) | |||||||||||||||||||||
Amortization of Net Loss | 1,387 | 156 | 134 | ||||||||||||||||||||||
Net Periodic Benefit Cost | $ | 1,466 | $ | 486 | $ | 560 | |||||||||||||||||||
Weighted-Average Assumptions Used in | |||||||||||||||||||||||||
Calculating Benefit Obligation | |||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Discount Rate | 4.31 | % | 4.26 | % | 4.31 | % | |||||||||||||||||||
Rate of Compensation Increase | 3.5 | % | 3.5 | % | 3.5 | % | |||||||||||||||||||
Schedule of Defined Benefit Plan Disclosures | |||||||||||||||||||||||||
Employees' | Select | Postretirement | |||||||||||||||||||||||
Pension | Executive | Benefit | |||||||||||||||||||||||
Plan | Retirement | Plans | |||||||||||||||||||||||
Plan | |||||||||||||||||||||||||
Interest Rate Credit for Determining | 3.04 | % | |||||||||||||||||||||||
Projected Cash Balance Account | |||||||||||||||||||||||||
Interest Rate to Annuitize Cash | 4.75 | % | |||||||||||||||||||||||
Balance Account | |||||||||||||||||||||||||
Interest Rate to Convert Annuities to Actuarially | 4.75 | % | 4.75 | % | |||||||||||||||||||||
Equivalent Lump Sum Amounts | |||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Discount Rate | 5.1 | % | 4.85 | % | 5.1 | % | |||||||||||||||||||
Rate of Compensation Increase | 3.5 | % | 3.5 | % | 3.5 | % | |||||||||||||||||||
Interest Rate Credit for Determining | 4 | % | |||||||||||||||||||||||
Projected Cash Balance Account | |||||||||||||||||||||||||
Interest Rate to Annuitize Cash | 5.25 | % | |||||||||||||||||||||||
Balance Account | |||||||||||||||||||||||||
Interest Rate to Convert Annuities to Actuarially | 5.25 | % | 5.25 | % | |||||||||||||||||||||
Equivalent Lump Sum Amounts | |||||||||||||||||||||||||
Weighted-Average Assumptions Used in | |||||||||||||||||||||||||
Calculating Net Periodic Benefit Cost | |||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Discount Rate | 5.1 | % | 4.85 | % | 5.1 | % | |||||||||||||||||||
Expected Long-Term Return on Plan Assets | 7.5 | % | |||||||||||||||||||||||
Rate of Compensation Increase | 3.5 | % | 3.5 | % | 3.5 | % | |||||||||||||||||||
Interest Rate Credit for Determining | 4 | % | |||||||||||||||||||||||
Projected Cash Balance Account | |||||||||||||||||||||||||
Interest Rate to Annuitize Cash | 5.25 | % | |||||||||||||||||||||||
Balance Account | |||||||||||||||||||||||||
Interest Rate to Convert Annuities to Actuarially | 5.25 | % | 5.25 | % | |||||||||||||||||||||
Equivalent Lump Sum Amounts | |||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Discount Rate | 3.55 | % | 3.15 | % | 3.55 | % | |||||||||||||||||||
Expected Long-Term Return on Plan Assets | 7.5 | % | |||||||||||||||||||||||
Rate of Compensation Increase | 3.5 | % | 3.5 | % | 3.5 | % | |||||||||||||||||||
Interest Rate Credit for Determining | 3 | % | |||||||||||||||||||||||
Projected Cash Balance Account | |||||||||||||||||||||||||
Interest Rate to Annuitize Cash | 4.5 | % | |||||||||||||||||||||||
Balance Account | |||||||||||||||||||||||||
Interest Rate to Convert Annuities to Actuarially | 4.5 | % | 4.5 | % | |||||||||||||||||||||
Equivalent Lump Sum Amounts | |||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||
Discount Rate | 4.05 | % | 4.05 | % | 4.05 | % | |||||||||||||||||||
Expected Long-Term Return on Plan Assets | 7.5 | % | |||||||||||||||||||||||
Rate of Compensation Increase | 3.5 | % | 3.5 | % | 3.5 | % | |||||||||||||||||||
Interest Rate Credit for Determining | 3.25 | % | |||||||||||||||||||||||
Projected Cash Balance Account | |||||||||||||||||||||||||
Interest Rate to Annuitize Cash | 5 | % | |||||||||||||||||||||||
Balance Account | |||||||||||||||||||||||||
Interest Rate to Convert Annuities to Actuarially | 5 | % | 5 | % | |||||||||||||||||||||
Equivalent Lump Sum Amounts | |||||||||||||||||||||||||
Schedule of Defined Benefit Plan Disclosures | |||||||||||||||||||||||||
Information about Defined Benefit Plan Assets - Employees' Pension Plan | |||||||||||||||||||||||||
Fair Value Measurements Using: | |||||||||||||||||||||||||
Asset Category | Quoted Prices | Significant Other Observable Inputs | Significant Unobservable Inputs | Total | Percent of Total | Target Allocation Minimum | Target Allocation Maximum | ||||||||||||||||||
in Active Markets | (Level 2) | (Level 3) | |||||||||||||||||||||||
for Identical Assets | |||||||||||||||||||||||||
(Level 1) | |||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Cash | $ | 20 | $ | — | $ | — | $ | 20 | — | % | — | % | 15 | % | |||||||||||
Interest-Bearing Money Market Fund | 4,322 | — | — | 4,322 | 9.5 | % | — | % | 15 | % | |||||||||||||||
Arrow Common Stock1 | 4,551 | — | — | 4,551 | 10 | % | — | % | 10 | % | |||||||||||||||
North Country Funds - Equity 2 | 18,975 | — | — | 18,975 | 41.4 | % | |||||||||||||||||||
Other Mutual Funds - Equity | 10,954 | — | — | 10,954 | 24 | % | |||||||||||||||||||
Total Equity Funds | 29,929 | — | — | 29,929 | 65.4 | % | 66 | % | 85 | % | |||||||||||||||
North Country Funds - Fixed income 2 | 5,436 | — | — | 5,436 | 11.9 | % | |||||||||||||||||||
Other Mutual Funds - Fixed Income | 1,446 | — | — | 1,446 | 3.2 | % | |||||||||||||||||||
Total Fixed Income Funds | 6,882 | — | — | 6,882 | 15.1 | % | 15 | % | 30 | % | |||||||||||||||
Total | $ | 45,704 | $ | — | $ | — | $ | 45,704 | 100 | % | |||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Cash | $ | 7 | $ | — | $ | — | $ | 7 | — | % | — | % | 15 | % | |||||||||||
Interest-Bearing Money Market Fund | 3,941 | — | — | 3,941 | 8.8 | % | — | % | 15 | % | |||||||||||||||
Arrow Common Stock1 | 4,291 | — | — | 4,291 | 9.6 | % | — | % | 10 | % | |||||||||||||||
North Country Funds - Equity 2 | 17,419 | — | — | 17,419 | 39.1 | % | |||||||||||||||||||
Other Mutual Funds - Equity | 14,338 | — | — | 14,338 | 32.1 | % | |||||||||||||||||||
Total Equity Funds | 31,757 | — | — | 31,757 | 71.2 | % | 55 | % | 85 | % | |||||||||||||||
North Country Funds - Fixed income 2 | 4,309 | — | — | 4,309 | 9.6 | % | |||||||||||||||||||
Other Mutual Funds - Fixed Income | 348 | — | — | 348 | 0.8 | % | |||||||||||||||||||
Total Fixed Income Funds | 4,657 | — | — | 4,657 | 10.4 | % | 10 | % | 30 | % | |||||||||||||||
Total | $ | 44,653 | $ | — | $ | — | $ | 44,653 | 100 | % | |||||||||||||||
Other_Expenses_Tables
Other Expenses (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Other Income and Expenses [Abstract] | ||||||||||||
Other Income and Other Expense Disclosure [Text Block] | Other operating expenses included in the consolidated statements of income are as follows: | |||||||||||
2014 | 2013 | 2012 | ||||||||||
Computer Services | $ | 3,659 | $ | 3,261 | $ | 2,263 | ||||||
Legal and Other Professional Fees | 1,836 | 1,823 | 1,962 | |||||||||
Postage and Courier | 1,084 | 1,046 | 1,040 | |||||||||
Stationery and Printing | 851 | 905 | 975 | |||||||||
Advertising and Promotion | 886 | 879 | 831 | |||||||||
Telephone and Communications | 746 | 804 | 808 | |||||||||
Intangible Asset Amortization | 387 | 452 | 518 | |||||||||
All Other | 3,531 | 3,486 | 3,243 | |||||||||
Total Other Operating Expense | $ | 12,980 | $ | 12,656 | $ | 11,640 | ||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The provision for income taxes is summarized below: | |||||||||||
Current Tax Expense: | 2014 | 2013 | 2012 | |||||||||
Federal | $ | 9,270 | $ | 7,933 | $ | 8,763 | ||||||
State | 1,203 | 852 | 1,251 | |||||||||
Total Current Tax Expense | 10,473 | 8,785 | 10,014 | |||||||||
Deferred Tax Expense (Benefit): | ||||||||||||
Federal | (315 | ) | 172 | (290 | ) | |||||||
State | 16 | 122 | (63 | ) | ||||||||
Total Deferred Tax Expense (Benefit) | (299 | ) | 294 | (353 | ) | |||||||
Total Provision for Income Taxes | $ | 10,174 | $ | 9,079 | $ | 9,661 | ||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | The provisions for income taxes differed from the amounts computed by applying the U.S. Federal Income Tax Rate of 35% for 2014, 2013 and 2012 to pre-tax income as a result of the following: | |||||||||||
2014 | 2013 | 2012 | ||||||||||
Computed Tax Expense at Statutory Rate | $ | 11,737 | $ | 10,806 | $ | 11,144 | ||||||
Increase (Decrease) in Income Taxes Resulting From: | ||||||||||||
Tax-Exempt Income | (2,215 | ) | (2,238 | ) | (2,132 | ) | ||||||
Nondeductible Interest Expense | 51 | 80 | 95 | |||||||||
State Taxes, Net of Federal Income Tax Benefit | 791 | 633 | 814 | |||||||||
Other Items, Net | (190 | ) | (202 | ) | (260 | ) | ||||||
Total Provision for Income Taxes | $ | 10,174 | $ | 9,079 | $ | 9,661 | ||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2014 and 2013 are presented below: | |||||||||||
2014 | 2013 | |||||||||||
Deferred Tax Assets: | ||||||||||||
Allowance for Loan Losses | $ | 6,113 | $ | 5,794 | ||||||||
Pension and Deferred Compensation Plans | 3,885 | 3,999 | ||||||||||
Pension Liability Included in Accumulated Other Comprehensive Income | 6,263 | 4,426 | ||||||||||
Other | 614 | 566 | ||||||||||
Total Gross Deferred Tax Assets | 16,875 | 14,785 | ||||||||||
Valuation Allowance for Deferred Tax Assets | — | — | ||||||||||
Total Gross Deferred Tax Assets, Net of Valuation Allowance | $ | 16,875 | $ | 14,785 | ||||||||
Deferred Tax Liabilities: | ||||||||||||
Pension Plans | $ | 7,604 | $ | 7,724 | ||||||||
Depreciation | 1,222 | 1,561 | ||||||||||
Deferred Income | 3,927 | 3,526 | ||||||||||
Net Unrealized Gains on Securities Available-for-Sale Included in | 1,638 | 1,557 | ||||||||||
Accumulated Other Comprehensive Income | ||||||||||||
Goodwill | 5,242 | 5,230 | ||||||||||
Total Gross Deferred Tax Liabilities | $ | 19,633 | $ | 19,598 | ||||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | The following table presents a reconciliation of the numerator and denominator used in the calculation of basic and diluted earnings per common share ("EPS") for each of the years in the three-year period ended December 31, 2014. All share and per share amounts have been adjusted for the 2014 2% stock dividend. | |||||||||||
Earnings Per Share | ||||||||||||
Year-to-Date Period Ended: | ||||||||||||
12/31/14 | 12/31/13 | 12/31/12 | ||||||||||
Earnings Per Share - Basic: | ||||||||||||
Net Income | $ | 23,360 | $ | 21,795 | $ | 22,179 | ||||||
Weighted Average Shares - Basic | 12,604 | 12,542 | 12,492 | |||||||||
Earnings Per Share - Basic | $ | 1.85 | $ | 1.74 | $ | 1.78 | ||||||
Earnings Per Share - Diluted: | ||||||||||||
Net Income | $ | 23,360 | $ | 21,795 | $ | 22,179 | ||||||
Weighted Average Shares - Basic | 12,604 | 12,542 | 12,492 | |||||||||
Dilutive Average Shares Attributable to Stock Options | 29 | 31 | 10 | |||||||||
Weighted Average Shares - Diluted | 12,633 | 12,573 | 12,502 | |||||||||
Earnings Per Share - Diluted | $ | 1.85 | $ | 1.73 | $ | 1.77 | ||||||
Antidilutive Shares Excluded from the Calculation | — | 47 | 203 | |||||||||
of Earnings Per Share |
Fair_Values_Tables
Fair Values (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | The table below presents the financial instrument's fair value and the amounts within the fair value hierarchy based on the lowest level of input that is significant to the fair value measurement: | |||||||||||||||||||
Fair Value of Assets and Liabilities Measured on a Recurring and Nonrecurring Basis | ||||||||||||||||||||
Fair Value Measurements at Reporting Date Using: | ||||||||||||||||||||
Fair Value of Assets and Liabilities Measured on a Recurring Basis: | Fair Value | Quoted Prices | Significant Other | Significant Unobservable Inputs | Total Gains (Losses) | |||||||||||||||
In Active Markets for Identical Assets | Observable Inputs | (Level 3) | ||||||||||||||||||
(Level 1) | (Level 2) | |||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||
Securities Available-for Sale: | ||||||||||||||||||||
U.S. Agency Obligations | $ | 137,603 | $ | — | $ | 137,603 | $ | — | ||||||||||||
State and Municipal Obligations | 81,730 | — | 81,730 | — | ||||||||||||||||
Mortgage-Backed Securities - Residential | 128,827 | — | 128,827 | — | ||||||||||||||||
Corporate and Other Debt Securities | 16,725 | — | 16,725 | — | ||||||||||||||||
Mutual Funds and Equity Securities | 1,254 | — | 1,254 | — | ||||||||||||||||
Total Securities Available-for-Sale | $ | 366,139 | $ | — | $ | 366,139 | $ | — | ||||||||||||
December 31, 2013 | ||||||||||||||||||||
Securities Available-for Sale: | ||||||||||||||||||||
U.S. Agency Obligations | $ | 136,475 | $ | — | $ | 136,475 | $ | — | ||||||||||||
State and Municipal Obligations | 127,389 | — | 127,389 | — | ||||||||||||||||
Mortgage-Backed Securities - Residential | 175,778 | — | 175,778 | — | ||||||||||||||||
Corporate and Other Debt Securities | 16,798 | — | 16,798 | — | ||||||||||||||||
Mutual Funds and Equity Securities | 1,166 | — | 1,166 | — | ||||||||||||||||
Total Securities Available-for Sale | $ | 457,606 | $ | — | $ | 457,606 | $ | — | ||||||||||||
Fair Value of Assets and Liabilities Measured on a Nonrecurring Basis: | ||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||
Collateral Dependent Impaired Loans | $ | 574 | $ | — | $ | — | $ | 574 | $ | (109 | ) | |||||||||
Other Real Estate Owned and Repossessed Assets, Net | $ | 393 | $ | — | $ | — | $ | 393 | $ | (15 | ) | |||||||||
December 31, 2013 | ||||||||||||||||||||
Other Real Estate Owned and Repossessed Assets, Net | $ | 144 | $ | — | $ | — | $ | 144 | $ | (79 | ) | |||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value by Balance Sheet Grouping | |||||||||||||||||||
The following table presents a summary of the carrying amount, the fair value or an amount approximating fair value and the fair value hierarchy of Arrow’s financial instruments: | ||||||||||||||||||||
Schedule of Fair Values by Balance Sheet Grouping | ||||||||||||||||||||
Fair Value Hierarchy | ||||||||||||||||||||
Carrying | Fair | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Amount | Value | |||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||
Cash and Cash Equivalents | $ | 46,295 | $ | 46,295 | $ | 46,295 | $ | — | $ | — | ||||||||||
Securities Available-for-Sale | 366,139 | 366,139 | — | 366,139 | — | |||||||||||||||
Securities Held-to-Maturity | 302,024 | 308,566 | — | 308,566 | — | |||||||||||||||
Federal Home Loan Bank and Federal Reserve Bank Stock | 4,851 | 4,851 | 4,851 | — | — | |||||||||||||||
Net Loans | 1,397,698 | 1,405,454 | — | — | 1,405,454 | |||||||||||||||
Accrued Interest Receivable | 5,834 | 5,834 | 5,834 | — | — | |||||||||||||||
Deposits | 1,902,948 | 1,899,682 | 1,697,105 | 202,577 | — | |||||||||||||||
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase | 19,421 | 19,421 | 19,421 | — | — | |||||||||||||||
Federal Home Loan Bank Term Advances | 51,000 | 51,258 | 41,000 | 10,258 | — | |||||||||||||||
Junior Subordinated Obligations Issued | 20,000 | 20,000 | — | 20,000 | — | |||||||||||||||
to Unconsolidated Subsidiary Trusts | ||||||||||||||||||||
Accrued Interest Payable | 274 | 274 | 274 | — | — | |||||||||||||||
December 31, 2013 | ||||||||||||||||||||
Cash and Cash Equivalents | $ | 49,980 | $ | 49,980 | $ | 49,980 | $ | — | $ | — | ||||||||||
Securities Available-for-Sale | 457,606 | 457,606 | — | 457,606 | — | |||||||||||||||
Securities Held-to-Maturity | 299,261 | 302,305 | — | 302,305 | — | |||||||||||||||
Federal Home Loan Bank and Federal Reserve Bank Stock | 6,281 | 6,281 | 6,281 | — | — | |||||||||||||||
Net Loans | 1,252,038 | 1,266,020 | — | — | 1,266,020 | |||||||||||||||
Accrued Interest Receivable | 5,745 | 5,745 | 5,745 | — | — | |||||||||||||||
Deposits | 1,842,330 | 1,839,613 | 1,595,103 | 244,510 | — | |||||||||||||||
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase | 11,777 | 11,777 | 11,777 | — | — | |||||||||||||||
Federal Home Loan Bank Term Advances | 73,000 | 74,629 | 53,000 | 21,629 | — | |||||||||||||||
Junior Subordinated Obligations Issued | 20,000 | 20,000 | — | 20,000 | — | |||||||||||||||
to Unconsolidated Subsidiary Trusts | ||||||||||||||||||||
Accrued Interest Payable | 439 | 439 | 439 | — | — | |||||||||||||||
Leases_Tables
Leases (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | ||||||||||
Schedule of Rent Expense [Table Text Block] | ental expense for the years ended December 31, 2014, 2013 and 2012 was as follows: | |||||||||
2014 | 2013 | 2012 | ||||||||
Net Rental Expense | $ | 784 | $ | 671 | $ | 597 | ||||
Schedule of Future Minimum Rental Payments for Operationg Leases [Table Text Block] | Future minimum lease payments on operating leases at December 31, 2014 were as follows: | |||||||||
Operating | ||||||||||
Leases | ||||||||||
2015 | $ | 686 | ||||||||
2016 | 483 | |||||||||
2017 | 389 | |||||||||
2018 | 318 | |||||||||
2019 | 266 | |||||||||
Later Years | 372 | |||||||||
Total Minimum Lease Payments | $ | 2,514 | ||||||||
Regulatory_Matters_Tables
Regulatory Matters (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Banking and Thrift [Abstract] | |||||||||||||||||||||
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Arrow’s and its subsidiary banks’, Glens Falls National Bank and Trust Company (“Glens Falls National”) and Saratoga National Bank and Trust Company (“Saratoga National”), actual capital amounts and ratios are presented in the table below as of December 31, 2014 and 2013: | ||||||||||||||||||||
Actual | Minimum Amounts For Capital Adequacy Purposes | Minimum Amounts To Be Well-Capitalized | |||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||
As of December 31, 2014: | |||||||||||||||||||||
Total Capital | |||||||||||||||||||||
(to Risk Weighted Assets): | |||||||||||||||||||||
Arrow | $ | 225,766 | 15.5 | % | $ | 116,524 | 8 | % | $ | 145,655 | 10 | % | |||||||||
Glens Falls National | 183,446 | 15.5 | % | 94,682 | 8 | % | 118,352 | 10 | % | ||||||||||||
Saratoga National | 35,217 | 13.3 | % | 21,183 | 8 | % | 26,479 | 10 | % | ||||||||||||
Tier I Capital | |||||||||||||||||||||
(to Risk Weighted Assets): | |||||||||||||||||||||
Arrow | 210,136 | 14.5 | % | 57,969 | 4 | % | 86,953 | 6 | % | ||||||||||||
Glens Falls National | 170,497 | 14.4 | % | 47,360 | 4 | % | 71,040 | 6 | % | ||||||||||||
Saratoga National | 32,596 | 12.3 | % | 10,600 | 4 | % | 15,900 | 6 | % | ||||||||||||
Tier I Capital | |||||||||||||||||||||
(to Average Assets): | |||||||||||||||||||||
Arrow | 210,136 | 9.4 | % | 89,420 | 4 | % | 89,420 | 4 | % | ||||||||||||
Glens Falls National | 170,497 | 9.1 | % | 74,944 | 4 | % | 93,680 | 5 | % | ||||||||||||
Saratoga National | 32,596 | 9.4 | % | 13,871 | 4 | % | 17,338 | 5 | % | ||||||||||||
Actual | Minimum Amounts For Capital | Minimum Amounts To Be Well-Capitalized | |||||||||||||||||||
Adequacy Purposes | |||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||
As of December 31, 2013: | |||||||||||||||||||||
Total Capital | |||||||||||||||||||||
(to Risk Weighted Assets): | |||||||||||||||||||||
Arrow | $ | 212,360 | 15.8 | % | 107,524 | 8 | % | 134,405 | 10 | % | |||||||||||
Glens Falls National | 172,720 | 15.4 | % | 89,725 | 8 | % | 112,156 | 10 | % | ||||||||||||
Saratoga National | 33,396 | 14.8 | % | 18,052 | 8 | % | 22,565 | 10 | % | ||||||||||||
Tier I Capital | |||||||||||||||||||||
(to Risk Weighted Assets): | |||||||||||||||||||||
Arrow | 197,906 | 14.7 | % | 53,852 | 4 | % | 80,778 | 6 | % | ||||||||||||
Glens Falls National | 160,849 | 14.4 | % | 44,680 | 4 | % | 67,020 | 6 | % | ||||||||||||
Saratoga National | 30,833 | 13.7 | % | 9,002 | 4 | % | 13,504 | 6 | % | ||||||||||||
Tier I Capital | |||||||||||||||||||||
(to Average Assets): | |||||||||||||||||||||
Arrow | 197,906 | 9.2 | % | 86,046 | 4 | % | 86,046 | 4 | % | ||||||||||||
Glens Falls National | 160,849 | 8.8 | % | 73,113 | 4 | % | 91,391 | 5 | % | ||||||||||||
Saratoga National | 30,833 | 9.7 | % | 12,715 | 4 | % | 15,893 | 5 | % | ||||||||||||
Parent_Only_Financial_Informat1
Parent Only Financial Information (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ||||||||||||
Schedule of Condensed Financial Statements [Table Text Block] | Condensed financial information for Arrow Financial Corporation is as follows: | |||||||||||
BALANCE SHEETS | December 31, | |||||||||||
ASSETS | 2014 | 2013 | ||||||||||
Interest-Bearing Deposits with Subsidiary Banks | $ | 3,013 | $ | 3,349 | ||||||||
Available-for-Sale Securities | 1,254 | 1,166 | ||||||||||
Held-to-Maturity Securities | 1,000 | 1,000 | ||||||||||
Investment in Subsidiaries at Equity | 214,813 | 206,680 | ||||||||||
Other Assets | 6,538 | 5,807 | ||||||||||
Total Assets | $ | 226,618 | $ | 218,002 | ||||||||
LIABILITIES | ||||||||||||
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts | $ | 20,000 | $ | 20,000 | ||||||||
Other Liabilities | 5,692 | 5,848 | ||||||||||
Total Liabilities | 25,692 | 25,848 | ||||||||||
STOCKHOLDERS’ EQUITY | ||||||||||||
Total Stockholders’ Equity | 200,926 | 192,154 | ||||||||||
Total Liabilities and Stockholders’ Equity | $ | 226,618 | $ | 218,002 | ||||||||
STATEMENTS OF INCOME | Years Ended December 31, | |||||||||||
Income: | 2014 | 2013 | 2012 | |||||||||
Dividends from Bank Subsidiaries | $ | 13,300 | $ | 12,900 | $ | 12,700 | ||||||
Interest and Dividends on Investments | 116 | 116 | 123 | |||||||||
Other Income (Including Management Fees) | 578 | 549 | 776 | |||||||||
Net Gains on Securities Transactions | — | — | 63 | |||||||||
Total Income | 13,994 | 13,565 | 13,662 | |||||||||
Expense: | ||||||||||||
Interest Expense | 620 | 640 | 692 | |||||||||
Salaries and Employee Benefits | 77 | 59 | 75 | |||||||||
Other Expense | 754 | 860 | 957 | |||||||||
Total Expense | 1,451 | 1,559 | 1,724 | |||||||||
Income Before Income Tax Benefit and Equity | ||||||||||||
in Undistributed Net Income of Subsidiaries | 12,543 | 12,006 | 11,938 | |||||||||
Income Tax Benefit | 473 | 634 | 575 | |||||||||
Equity in Undistributed Net Income of Subsidiaries | 10,344 | 9,155 | 9,666 | |||||||||
Net Income | $ | 23,360 | $ | 21,795 | $ | 22,179 | ||||||
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, | |||||||||||
2014 | 2013 | 2012 | ||||||||||
Cash Flows from Operating Activities: | ||||||||||||
Net Income | $ | 23,360 | $ | 21,795 | $ | 22,179 | ||||||
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: | ||||||||||||
Undistributed Net Income of Subsidiaries | (10,344 | ) | (9,155 | ) | (9,666 | ) | ||||||
Net Gains on the Sale of Securities Available-for-Sale | — | — | (63 | ) | ||||||||
Shares Issued Under the Directors’ Stock Plan | 197 | 198 | 175 | |||||||||
Stock-Based Compensation Expense | 360 | 372 | 424 | |||||||||
Changes in Other Assets and Other Liabilities | (1,014 | ) | (990 | ) | (1,640 | ) | ||||||
Net Cash Provided by Operating Activities | 12,559 | 12,220 | 11,409 | |||||||||
Cash Flows from Investing Activities: | ||||||||||||
Proceeds from the Sale of Securities Available-for-Sale | 45 | 45 | 681 | |||||||||
Purchases of Securities Available-for-Sale | (45 | ) | (45 | ) | (359 | ) | ||||||
Net Cash Provided by Investing Activities | — | — | 322 | |||||||||
Cash Flows from Financing Activities: | ||||||||||||
Stock Options Exercised | 1,942 | 1,254 | 2,105 | |||||||||
Shares Issued Under the Employee Stock Purchase Plan | — | 477 | 484 | |||||||||
Shares Issued for Dividend Reinvestment Plans | — | 1,280 | 1,822 | |||||||||
Tax Benefit for Exercises of Stock Options | 25 | 23 | 68 | |||||||||
Purchase of Treasury Stock | (2,455 | ) | (1,709 | ) | (4,877 | ) | ||||||
Cash Dividends Paid | (12,407 | ) | (12,109 | ) | (11,815 | ) | ||||||
Net Cash Used in Financing Activities | (12,895 | ) | (10,784 | ) | (12,213 | ) | ||||||
Net (Decrease) Increase in Cash and Cash Equivalents | (336 | ) | 1,436 | (482 | ) | |||||||
Cash and Cash Equivalents at Beginning of the Year | 3,349 | 1,913 | 2,395 | |||||||||
Cash and Cash Equivalents at End of the Year | $ | 3,013 | $ | 3,349 | $ | 1,913 | ||||||
Supplemental Disclosures to Statements of | ||||||||||||
Cash Flow Information: | ||||||||||||
Interest Paid | $ | 620 | $ | 640 | $ | 692 | ||||||
Non-cash Investing and Financing Activities: | ||||||||||||
Shares Issued for Acquisition of Subsidiary | 91 | 233 | 233 | |||||||||
Cash_and_Cash_Equivalents_Deta
Cash and Cash Equivalents (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
Cash and Cash Equivalents [Abstract] | ||||
Cash and Due from Banks | $35,081 | $37,275 | ||
Interest-Bearing Deposits at Banks | 11,214 | 12,705 | ||
Total Cash and Cash Equivalents | 46,295 | 49,980 | 48,832 | 43,736 |
Total required reserves, including vault cash and Federal Reserve Bank deposits | $19,989 | $18,879 |
Investment_Securities_Schedule
Investment Securities Schedule of Available for Sale Securities (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-For-Sale Securities, at Amortized Cost | $361,962 | $453,675 |
Available-for-sale Securities | 366,139 | 457,606 |
Gross Unrealized Gains | 4,636 | 5,078 |
Gross Unrealized Losses | 459 | 1,147 |
Available-for-sale Securities, Pledged as Collateral | 267,384 | 243,769 |
Maturities of Debt Securities, at Amortized Cost [Abstract] | ||
Within One Year | 33,454 | |
From 1 - 5 Years | 303,037 | |
From 5 - 10 Years | 22,711 | |
Over 10 Years | 1,640 | |
Maturities of Debt Securities, at Fair Value [Abstract] | ||
Within One Year | 33,524 | |
From 1 - 5 Years | 306,483 | |
From 5 - 10 Years | 23,438 | |
Over 10 Years | 1,440 | |
Securities in a Continuous Loss Position, at Fair Value [Abstract] | ||
Less than 12 Months | 43,022 | 113,196 |
12 Months of Longer | 54,339 | 56,350 |
Total | 97,361 | 169,546 |
Number of Securities in a Continuous Loss Position | 105 | 165 |
Unrealized Losses on Securities in a Continuous Loss Position [Abstract] | ||
Less than 12 Months | 48 | 656 |
12 Months or Longer | 411 | 491 |
Total | 459 | 1,147 |
U.S. Agency Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Gains | 208 | 2 |
Gross Unrealized Losses | 145 | 395 |
Maturities of Debt Securities, at Amortized Cost [Abstract] | ||
Within One Year | 0 | |
From 1 - 5 Years | 137,540 | |
From 5 - 10 Years | 0 | |
Over 10 Years | 0 | |
Maturities of Debt Securities, at Fair Value [Abstract] | ||
Within One Year | 0 | |
From 1 - 5 Years | 137,603 | |
From 5 - 10 Years | 0 | |
Over 10 Years | 0 | |
Securities in a Continuous Loss Position, at Fair Value [Abstract] | ||
Less than 12 Months | 39,631 | 60,664 |
12 Months of Longer | 28,020 | 33,849 |
Total | 67,651 | 94,513 |
Number of Securities in a Continuous Loss Position | 22 | 26 |
Unrealized Losses on Securities in a Continuous Loss Position [Abstract] | ||
Less than 12 Months | 48 | 336 |
12 Months or Longer | 97 | 59 |
Total | 145 | 395 |
U.S. Agency Obligations [Member] | Agency Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-For-Sale Securities, at Amortized Cost | 137,540 | 136,868 |
Available-for-sale Securities | 137,603 | 136,475 |
State and Municipal Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-For-Sale Securities, at Amortized Cost | 81,582 | 127,224 |
Available-for-sale Securities | 81,730 | 127,389 |
Gross Unrealized Gains | 187 | 306 |
Gross Unrealized Losses | 39 | 141 |
Maturities of Debt Securities, at Amortized Cost [Abstract] | ||
Within One Year | 28,273 | |
From 1 - 5 Years | 51,384 | |
From 5 - 10 Years | 1,285 | |
Over 10 Years | 640 | |
Maturities of Debt Securities, at Fair Value [Abstract] | ||
Within One Year | 28,329 | |
From 1 - 5 Years | 51,476 | |
From 5 - 10 Years | 1,285 | |
Over 10 Years | 640 | |
Securities in a Continuous Loss Position, at Fair Value [Abstract] | ||
Less than 12 Months | 3,309 | 29,967 |
12 Months of Longer | 14,035 | 4,597 |
Total | 17,344 | 34,564 |
Number of Securities in a Continuous Loss Position | 65 | 107 |
Unrealized Losses on Securities in a Continuous Loss Position [Abstract] | ||
Less than 12 Months | 0 | 120 |
12 Months or Longer | 39 | 21 |
Total | 39 | 141 |
Mortgage-Backed Securities - Residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-For-Sale Securities, at Amortized Cost | 124,732 | 171,321 |
Available-for-sale Securities | 128,827 | 175,778 |
Gross Unrealized Gains | 4,100 | 4,714 |
Gross Unrealized Losses | 5 | 257 |
Maturities of Debt Securities, at Amortized Cost [Abstract] | ||
Within One Year | 2,878 | |
From 1 - 5 Years | 100,428 | |
From 5 - 10 Years | 21,426 | |
Over 10 Years | 0 | |
Maturities of Debt Securities, at Fair Value [Abstract] | ||
Within One Year | 2,888 | |
From 1 - 5 Years | 103,786 | |
From 5 - 10 Years | 22,153 | |
Over 10 Years | 0 | |
Securities in a Continuous Loss Position, at Fair Value [Abstract] | ||
Less than 12 Months | 82 | 15,190 |
12 Months of Longer | 1,546 | 11,841 |
Total | 1,628 | 27,031 |
Number of Securities in a Continuous Loss Position | 3 | 13 |
Unrealized Losses on Securities in a Continuous Loss Position [Abstract] | ||
Less than 12 Months | 0 | 108 |
12 Months or Longer | 5 | 149 |
Total | 5 | 257 |
Mortgage-Backed Securities - Residential [Member] | Agency Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-For-Sale Securities, at Amortized Cost | 23,000 | 31,500 |
Available-for-sale Securities | 23,600 | 32,200 |
Mortgage-Backed Securities - Residential [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-For-Sale Securities, at Amortized Cost | 101,700 | 139,800 |
Available-for-sale Securities | 105,200 | 143,600 |
Corporate and Other Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-For-Sale Securities, at Amortized Cost | 16,988 | 17,142 |
Available-for-sale Securities | 16,725 | 16,798 |
Gross Unrealized Gains | 7 | 10 |
Gross Unrealized Losses | 270 | 354 |
Maturities of Debt Securities, at Amortized Cost [Abstract] | ||
Within One Year | 2,303 | |
From 1 - 5 Years | 13,685 | |
From 5 - 10 Years | 0 | |
Over 10 Years | 1,000 | |
Maturities of Debt Securities, at Fair Value [Abstract] | ||
Within One Year | 2,307 | |
From 1 - 5 Years | 13,618 | |
From 5 - 10 Years | 0 | |
Over 10 Years | 800 | |
Securities in a Continuous Loss Position, at Fair Value [Abstract] | ||
Less than 12 Months | 0 | 7,375 |
12 Months of Longer | 10,738 | 6,063 |
Total | 10,738 | 13,438 |
Number of Securities in a Continuous Loss Position | 15 | 19 |
Unrealized Losses on Securities in a Continuous Loss Position [Abstract] | ||
Less than 12 Months | 0 | 92 |
12 Months or Longer | 270 | 262 |
Total | 270 | 354 |
Mututal Funds and Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-For-Sale Securities, at Amortized Cost | 1,120 | 1,120 |
Available-for-sale Securities | 1,254 | 1,166 |
Gross Unrealized Gains | 134 | 46 |
Gross Unrealized Losses | 0 | 0 |
Maturities of Debt Securities, at Amortized Cost [Abstract] | ||
Within One Year | ||
From 1 - 5 Years | ||
From 5 - 10 Years | ||
Over 10 Years | ||
Maturities of Debt Securities, at Fair Value [Abstract] | ||
Within One Year | ||
From 1 - 5 Years | ||
From 5 - 10 Years | ||
Over 10 Years | ||
Securities in a Continuous Loss Position, at Fair Value [Abstract] | ||
Less than 12 Months | 0 | 0 |
12 Months of Longer | 0 | 0 |
Total | 0 | 0 |
Number of Securities in a Continuous Loss Position | 0 | 0 |
Unrealized Losses on Securities in a Continuous Loss Position [Abstract] | ||
Less than 12 Months | 0 | 0 |
12 Months or Longer | 0 | 0 |
Total | $0 | $0 |
Investment_Securities_Schedule1
Investment Securities Schedule of Held to Maturity Securities (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-Maturity Securities | $302,024 | $299,261 |
Held-to-maturity Securities, at Fair Value | 308,566 | 302,305 |
Gross Unrealized Gains | 6,705 | 4,786 |
Gross Unrealized Losses | 163 | 1,742 |
Held-to-maturity Securities, Pledged as Collateral | 282,640 | 298,261 |
Maturities of Debt Securities, at Amortized Cost [Abstract] | ||
Within One Year | 34,163 | |
From 1 - 5 Years | 125,515 | |
From 5 - 10 Years | 139,297 | |
Over 10 Years | 3,049 | |
Maturities of Debt Securities, at Fair Value [Abstract] | ||
Within One Year | 34,236 | |
From 1 - 5 Years | 128,281 | |
From 5 - 10 Years | 142,909 | |
Over 10 Years | 3,140 | |
Securities in a Continuous Loss Position, at Fair Value [Abstract] | ||
Less than 12 Months | 6,724 | 108,972 |
12 Months or Longer | 16,033 | 5,111 |
Total | 22,757 | 114,083 |
Number of Securities in a Continuous Loss Position | 75 | 137 |
Unrealized Losses on Securities in a Continuous Loss Position [Abstract] | ||
Less than 12 Months | 25 | 1,683 |
12 Months or Longer | 138 | 59 |
Total | 163 | 1,742 |
State and Municipal Obligations [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-Maturity Securities | 188,472 | 198,206 |
Held-to-maturity Securities, at Fair Value | 193,252 | 202,390 |
Gross Unrealized Gains | 4,935 | 4,762 |
Gross Unrealized Losses | 155 | 578 |
Maturities of Debt Securities, at Amortized Cost [Abstract] | ||
Within One Year | 34,163 | |
From 1 - 5 Years | 88,866 | |
From 5 - 10 Years | 63,394 | |
Over 10 Years | 2,049 | |
Maturities of Debt Securities, at Fair Value [Abstract] | ||
Within One Year | 34,236 | |
From 1 - 5 Years | 91,148 | |
From 5 - 10 Years | 65,728 | |
Over 10 Years | 2,140 | |
Securities in a Continuous Loss Position, at Fair Value [Abstract] | ||
Less than 12 Months | 2,143 | 23,633 |
12 Months or Longer | 16,033 | 5,111 |
Total | 18,176 | 28,744 |
Number of Securities in a Continuous Loss Position | 74 | 101 |
Unrealized Losses on Securities in a Continuous Loss Position [Abstract] | ||
Less than 12 Months | 17 | 519 |
12 Months or Longer | 138 | 59 |
Total | 155 | 578 |
Mortgage-Backed Securities - Residential [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-Maturity Securities | 112,552 | |
Held-to-maturity Securities, at Fair Value | 114,314 | |
Gross Unrealized Gains | 1,770 | 24 |
Gross Unrealized Losses | 8 | 1,164 |
Maturities of Debt Securities, at Amortized Cost [Abstract] | ||
Within One Year | 0 | |
From 1 - 5 Years | 36,649 | |
From 5 - 10 Years | 75,903 | |
Over 10 Years | 0 | |
Maturities of Debt Securities, at Fair Value [Abstract] | ||
Within One Year | 0 | |
From 1 - 5 Years | 37,133 | |
From 5 - 10 Years | 77,181 | |
Over 10 Years | 0 | |
Securities in a Continuous Loss Position, at Fair Value [Abstract] | ||
Less than 12 Months | 4,581 | 85,339 |
12 Months or Longer | 0 | 0 |
Total | 4,581 | 85,339 |
Number of Securities in a Continuous Loss Position | 1 | 36 |
Unrealized Losses on Securities in a Continuous Loss Position [Abstract] | ||
Less than 12 Months | 8 | 1,164 |
12 Months or Longer | 0 | 0 |
Total | 8 | 1,164 |
Mortgage-Backed Securities - Residential [Member] | Agency Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-Maturity Securities | 4,400 | |
Held-to-maturity Securities, at Fair Value | 4,500 | |
Mortgage-Backed Securities - Residential [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-Maturity Securities | 108,100 | 100,055 |
Held-to-maturity Securities, at Fair Value | 109,800 | 98,915 |
Corporate and Other Debt Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-Maturity Securities | 1,000 | 1,000 |
Held-to-maturity Securities, at Fair Value | 1,000 | 1,000 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Maturities of Debt Securities, at Amortized Cost [Abstract] | ||
Within One Year | 0 | |
From 1 - 5 Years | 0 | |
From 5 - 10 Years | 0 | |
Over 10 Years | 1,000 | |
Maturities of Debt Securities, at Fair Value [Abstract] | ||
Within One Year | 0 | |
From 1 - 5 Years | 0 | |
From 5 - 10 Years | 0 | |
Over 10 Years | 1,000 | |
Securities in a Continuous Loss Position, at Fair Value [Abstract] | ||
Less than 12 Months | 0 | 0 |
12 Months or Longer | 0 | 0 |
Total | 0 | 0 |
Number of Securities in a Continuous Loss Position | 0 | 0 |
Unrealized Losses on Securities in a Continuous Loss Position [Abstract] | ||
Less than 12 Months | 0 | 0 |
12 Months or Longer | 0 | 0 |
Total | $0 | $0 |
Investment_Securities_CostMeth
Investment Securities Cost-Method Investments (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Investments, All Other Investments [Abstract] | ||
Federal Reserve Bank Stock | $1,048 | $1,035 |
Federal Home Loan Bank Stock | 3,803 | 5,246 |
Federal Home Loan Bank and Federal Reserve Bank Stock | $4,851 | $6,281 |
Loans_Loan_Categories_and_Past
Loans Loan Categories and Past Due Loans(Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due 30 - 59 Days | $5,205 | $4,303 |
Loans Past Due 60 - 89 Days | 2,881 | 4,388 |
Loans Past Due 90 or More Days | 5,382 | 5,422 |
Total Loans Past Due | 13,468 | 14,113 |
Current Loans | 1,399,800 | 1,252,359 |
Total Loans | 1,413,268 | 1,266,472 |
Loans 90 or More Days Past Due and Still Accruing Interest | 537 | 652 |
Nonaccrual Loans | 6,899 | 6,479 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due 30 - 59 Days | 124 | 304 |
Loans Past Due 60 - 89 Days | 154 | 601 |
Loans Past Due 90 or More Days | 345 | 177 |
Total Loans Past Due | 623 | 1,082 |
Current Loans | 98,888 | 86,811 |
Total Loans | 99,511 | 87,893 |
Loans 90 or More Days Past Due and Still Accruing Interest | 0 | 28 |
Nonaccrual Loans | 473 | 352 |
Commercial Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due 30 - 59 Days | 0 | 0 |
Loans Past Due 60 - 89 Days | 0 | 0 |
Loans Past Due 90 or More Days | 0 | 0 |
Total Loans Past Due | 0 | 0 |
Current Loans | 18,815 | 27,815 |
Total Loans | 18,815 | 27,815 |
Loans 90 or More Days Past Due and Still Accruing Interest | 0 | 0 |
Nonaccrual Loans | 0 | 0 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due 30 - 59 Days | 432 | 200 |
Loans Past Due 60 - 89 Days | 7 | 1,200 |
Loans Past Due 90 or More Days | 1,832 | 2,034 |
Total Loans Past Due | 2,271 | 3,434 |
Current Loans | 319,026 | 284,685 |
Total Loans | 321,297 | 288,119 |
Loans 90 or More Days Past Due and Still Accruing Interest | 0 | 0 |
Nonaccrual Loans | 2,071 | 2,048 |
Other Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due 30 - 59 Days | 30 | 37 |
Loans Past Due 60 - 89 Days | 4 | 19 |
Loans Past Due 90 or More Days | 3 | 0 |
Total Loans Past Due | 37 | 56 |
Current Loans | 7,628 | 7,593 |
Total Loans | 7,665 | 7,649 |
Loans 90 or More Days Past Due and Still Accruing Interest | 0 | 0 |
Nonaccrual Loans | 4 | 0 |
Automobile [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due 30 - 59 Days | 4,137 | 3,233 |
Loans Past Due 60 - 89 Days | 1,221 | 1,041 |
Loans Past Due 90 or More Days | 203 | 98 |
Total Loans Past Due | 5,561 | 4,372 |
Current Loans | 423,815 | 389,832 |
Total Loans | 429,376 | 394,204 |
Loans 90 or More Days Past Due and Still Accruing Interest | 0 | 0 |
Nonaccrual Loans | 411 | 219 |
Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due 30 - 59 Days | 482 | 529 |
Loans Past Due 60 - 89 Days | 1,495 | 1,527 |
Loans Past Due 90 or More Days | 2,999 | 3,113 |
Total Loans Past Due | 4,976 | 5,169 |
Current Loans | 531,628 | 455,623 |
Total Loans | 536,604 | 460,792 |
Loans 90 or More Days Past Due and Still Accruing Interest | 537 | 624 |
Nonaccrual Loans | $3,940 | $3,860 |
Loans_Allowance_for_Loan_Losse
Loans Allowance for Loan Losses (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Rollfoward of the Allowance for Loan Losses for the Quarterly Report [Roll Forward] | |||
Allowance for Credit Losses, Beginning Balance | $14,434 | $15,298 | $15,003 |
Charge-offs | -1,021 | -1,411 | -782 |
Recoveries | 309 | 347 | 232 |
Provision | 1,848 | 200 | 845 |
Allowance for Credit Losses, Ending Balance | 15,570 | 14,434 | 15,298 |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Allowance for Loan Losses - Individually Evaluated for Impairment | 109 | 0 | |
Allowance for Loan Losses - Collectively Evaluated for Impairment | 15,461 | 14,434 | |
Ending Loan Balance - Individually Evaluated for Impairment | 4,341 | 4,488 | |
Ending Loan Balance - Collectively Evaluated for Impairment | 1,408,927 | 1,261,984 | |
Commercial [Member] | |||
Rollfoward of the Allowance for Loan Losses for the Quarterly Report [Roll Forward] | |||
Allowance for Credit Losses, Beginning Balance | 1,886 | 2,344 | 1,927 |
Charge-offs | -212 | -926 | -90 |
Recoveries | 86 | 88 | 23 |
Provision | 340 | 380 | 484 |
Allowance for Credit Losses, Ending Balance | 2,100 | 1,886 | 2,344 |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Allowance for Loan Losses - Individually Evaluated for Impairment | 0 | 0 | |
Allowance for Loan Losses - Collectively Evaluated for Impairment | 2,100 | 1,886 | |
Ending Loan Balance - Individually Evaluated for Impairment | 494 | 221 | |
Ending Loan Balance - Collectively Evaluated for Impairment | 99,017 | 87,672 | |
Commercial Construction [Member] | |||
Rollfoward of the Allowance for Loan Losses for the Quarterly Report [Roll Forward] | |||
Allowance for Credit Losses, Beginning Balance | 417 | 601 | 602 |
Charge-offs | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 |
Provision | -135 | -184 | -1 |
Allowance for Credit Losses, Ending Balance | 282 | 417 | 601 |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Allowance for Loan Losses - Individually Evaluated for Impairment | 0 | 0 | |
Allowance for Loan Losses - Collectively Evaluated for Impairment | 282 | 417 | |
Ending Loan Balance - Individually Evaluated for Impairment | 0 | 0 | |
Ending Loan Balance - Collectively Evaluated for Impairment | 18,815 | 27,815 | |
Commercial Real Estate [Member] | |||
Rollfoward of the Allowance for Loan Losses for the Quarterly Report [Roll Forward] | |||
Allowance for Credit Losses, Beginning Balance | 3,545 | 3,050 | 3,136 |
Charge-offs | 0 | -11 | -206 |
Recoveries | 0 | 0 | 0 |
Provision | 301 | 506 | 120 |
Allowance for Credit Losses, Ending Balance | 3,846 | 3,545 | 3,050 |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Allowance for Loan Losses - Individually Evaluated for Impairment | 0 | 0 | |
Allowance for Loan Losses - Collectively Evaluated for Impairment | 3,846 | 3,545 | |
Ending Loan Balance - Individually Evaluated for Impairment | 1,492 | 1,785 | |
Ending Loan Balance - Collectively Evaluated for Impairment | 319,805 | 286,334 | |
Other Consumer [Member] | |||
Rollfoward of the Allowance for Loan Losses for the Quarterly Report [Roll Forward] | |||
Allowance for Credit Losses, Beginning Balance | 272 | 304 | 350 |
Charge-offs | -41 | -28 | -52 |
Recoveries | 6 | 3 | 9 |
Provision | 22 | -7 | -3 |
Allowance for Credit Losses, Ending Balance | 259 | 272 | 304 |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Allowance for Loan Losses - Individually Evaluated for Impairment | 0 | 0 | |
Allowance for Loan Losses - Collectively Evaluated for Impairment | 259 | 272 | |
Ending Loan Balance - Individually Evaluated for Impairment | 0 | 0 | |
Ending Loan Balance - Collectively Evaluated for Impairment | 7,665 | 7,649 | |
Automobile [Member] | |||
Rollfoward of the Allowance for Loan Losses for the Quarterly Report [Roll Forward] | |||
Allowance for Credit Losses, Beginning Balance | 4,206 | 4,536 | 4,496 |
Charge-offs | -677 | -431 | -401 |
Recoveries | 217 | 256 | 200 |
Provision | 1,205 | -155 | 241 |
Allowance for Credit Losses, Ending Balance | 4,951 | 4,206 | 4,536 |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Allowance for Loan Losses - Individually Evaluated for Impairment | 0 | 0 | |
Allowance for Loan Losses - Collectively Evaluated for Impairment | 4,951 | 4,206 | |
Ending Loan Balance - Individually Evaluated for Impairment | 118 | 173 | |
Ending Loan Balance - Collectively Evaluated for Impairment | 429,258 | 394,031 | |
Residential [Member] | |||
Rollfoward of the Allowance for Loan Losses for the Quarterly Report [Roll Forward] | |||
Allowance for Credit Losses, Beginning Balance | 3,026 | 3,405 | 3,414 |
Charge-offs | -91 | -15 | -33 |
Recoveries | 0 | 0 | 0 |
Provision | 434 | -364 | 24 |
Allowance for Credit Losses, Ending Balance | 3,369 | 3,026 | 3,405 |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Allowance for Loan Losses - Individually Evaluated for Impairment | 109 | 0 | |
Allowance for Loan Losses - Collectively Evaluated for Impairment | 3,260 | 3,026 | |
Ending Loan Balance - Individually Evaluated for Impairment | 2,237 | 2,309 | |
Ending Loan Balance - Collectively Evaluated for Impairment | 534,367 | 458,483 | |
Unallocated [Member] | |||
Rollfoward of the Allowance for Loan Losses for the Quarterly Report [Roll Forward] | |||
Allowance for Credit Losses, Beginning Balance | 1,082 | 1,058 | 1,078 |
Charge-offs | 0 | 0 | |
Recoveries | 0 | 0 | |
Provision | -319 | 24 | -20 |
Allowance for Credit Losses, Ending Balance | 763 | 1,082 | 1,058 |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Allowance for Loan Losses - Individually Evaluated for Impairment | 0 | 0 | |
Allowance for Loan Losses - Collectively Evaluated for Impairment | 763 | 1,082 | |
Ending Loan Balance - Individually Evaluated for Impairment | 0 | 0 | |
Ending Loan Balance - Collectively Evaluated for Impairment | $0 | $0 |
Loans_Loan_Credit_Quality_Indi
Loans Loan Credit Quality Indicators (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Satisfactory [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Net | $403,696 | $375,393 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Net | 6,160 | 838 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Net | 29,767 | 27,596 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Net | 968,753 | 857,942 |
Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Net | 4,892 | 4,703 |
Commercial [Member] | Satisfactory [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Net | 85,949 | 79,966 |
Commercial [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Net | 2,442 | 204 |
Commercial [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Net | 11,120 | 7,723 |
Commercial [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Commercial Construction [Member] | Satisfactory [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Net | 18,815 | 27,815 |
Commercial Construction [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Commercial Construction [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Commercial Construction [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Commercial Real Estate [Member] | Satisfactory [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Net | 298,932 | 267,612 |
Commercial Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Net | 3,718 | 634 |
Commercial Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Net | 18,647 | 19,873 |
Commercial Real Estate [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Other Consumer [Member] | Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Net | 7,661 | 7,649 |
Other Consumer [Member] | Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Net | 4 | 0 |
Automobile [Member] | Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Net | 428,965 | 393,985 |
Automobile [Member] | Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Net | 411 | 219 |
Residential [Member] | Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Net | 532,127 | 456,308 |
Residential [Member] | Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Net | $4,477 | $4,484 |
Loans_Impaired_Loans_Details
Loans Impaired Loans (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Recorded Investment [Abstract] | |||
With No Related Allowance | $3,782 | $4,488 | |
With a Related Allowance | 559 | 0 | |
Unpaid Principal Balance [Abstract] | |||
With No Related Allowance | 3,782 | 4,488 | |
With a Related Allowance | 559 | 0 | |
Average Recorded Balance [Abstract] | |||
With No Related Allowance | 3,634 | 4,178 | 4,132 |
With a Related Allowance | 546 | 694 | 694 |
Interest Income Recognized [Abstract] | |||
With No Related Allowance | 19 | 21 | 91 |
With a Related Allowance | 0 | 0 | 0 |
Cash Basis Income [Abstract] | |||
With No Related Allowance | 0 | 0 | 64 |
With a Related Allowance | 0 | 0 | 0 |
Impaired Financing Receivable, Related Allowance | 109 | ||
Commercial [Member] | |||
Recorded Investment [Abstract] | |||
With No Related Allowance | 494 | 221 | |
With a Related Allowance | 0 | 0 | |
Unpaid Principal Balance [Abstract] | |||
With No Related Allowance | 494 | 221 | |
With a Related Allowance | 0 | 0 | |
Average Recorded Balance [Abstract] | |||
With No Related Allowance | 348 | 133 | 56 |
With a Related Allowance | 0 | 694 | 694 |
Interest Income Recognized [Abstract] | |||
With No Related Allowance | 11 | 4 | 6 |
With a Related Allowance | 0 | 0 | 0 |
Cash Basis Income [Abstract] | |||
With No Related Allowance | 0 | 0 | 0 |
With a Related Allowance | 0 | 0 | 0 |
Impaired Financing Receivable, Related Allowance | 0 | ||
Commercial Construction [Member] | |||
Recorded Investment [Abstract] | |||
With No Related Allowance | 0 | 0 | |
With a Related Allowance | 0 | 0 | |
Unpaid Principal Balance [Abstract] | |||
With No Related Allowance | 0 | 0 | |
With a Related Allowance | 0 | 0 | |
Average Recorded Balance [Abstract] | |||
With No Related Allowance | 0 | 0 | 0 |
With a Related Allowance | 0 | 0 | 0 |
Interest Income Recognized [Abstract] | |||
With No Related Allowance | 0 | 0 | 0 |
With a Related Allowance | 0 | 0 | 0 |
Cash Basis Income [Abstract] | |||
With No Related Allowance | 0 | 0 | 0 |
With a Related Allowance | 0 | 0 | 0 |
Impaired Financing Receivable, Related Allowance | 0 | ||
Commercial Real Estate [Member] | |||
Recorded Investment [Abstract] | |||
With No Related Allowance | 1,492 | 1,785 | |
With a Related Allowance | 0 | 0 | |
Unpaid Principal Balance [Abstract] | |||
With No Related Allowance | 1,492 | 1,785 | |
With a Related Allowance | 0 | 0 | |
Average Recorded Balance [Abstract] | |||
With No Related Allowance | 1,492 | 2,157 | 2,241 |
With a Related Allowance | 0 | 0 | 0 |
Interest Income Recognized [Abstract] | |||
With No Related Allowance | 0 | 0 | 64 |
With a Related Allowance | 0 | 0 | 0 |
Cash Basis Income [Abstract] | |||
With No Related Allowance | 0 | 0 | 64 |
With a Related Allowance | 0 | 0 | 0 |
Impaired Financing Receivable, Related Allowance | 0 | ||
Other Consumer [Member] | |||
Recorded Investment [Abstract] | |||
With No Related Allowance | 0 | 0 | |
With a Related Allowance | 0 | 0 | |
Unpaid Principal Balance [Abstract] | |||
With No Related Allowance | 0 | 0 | |
With a Related Allowance | 0 | 0 | |
Average Recorded Balance [Abstract] | |||
With No Related Allowance | 0 | 0 | 0 |
With a Related Allowance | 0 | 0 | 0 |
Interest Income Recognized [Abstract] | |||
With No Related Allowance | 0 | 0 | 0 |
With a Related Allowance | 0 | 0 | 0 |
Cash Basis Income [Abstract] | |||
With No Related Allowance | 0 | 0 | 0 |
With a Related Allowance | 0 | 0 | 0 |
Impaired Financing Receivable, Related Allowance | 0 | ||
Automobile [Member] | |||
Recorded Investment [Abstract] | |||
With No Related Allowance | 118 | 173 | |
With a Related Allowance | 0 | 0 | |
Unpaid Principal Balance [Abstract] | |||
With No Related Allowance | 118 | 173 | |
With a Related Allowance | 0 | 0 | |
Average Recorded Balance [Abstract] | |||
With No Related Allowance | 121 | 188 | 236 |
With a Related Allowance | 0 | 0 | 0 |
Interest Income Recognized [Abstract] | |||
With No Related Allowance | 7 | 9 | 12 |
With a Related Allowance | 0 | 0 | 0 |
Cash Basis Income [Abstract] | |||
With No Related Allowance | 0 | 0 | 0 |
With a Related Allowance | 0 | 0 | 0 |
Impaired Financing Receivable, Related Allowance | 0 | ||
Residential [Member] | |||
Recorded Investment [Abstract] | |||
With No Related Allowance | 1,678 | 2,309 | |
With a Related Allowance | 559 | 0 | |
Unpaid Principal Balance [Abstract] | |||
With No Related Allowance | 1,678 | 2,309 | |
With a Related Allowance | 559 | 0 | |
Average Recorded Balance [Abstract] | |||
With No Related Allowance | 1,673 | 1,700 | 1,599 |
With a Related Allowance | 546 | 0 | 0 |
Interest Income Recognized [Abstract] | |||
With No Related Allowance | 1 | 8 | 9 |
With a Related Allowance | 0 | 0 | 0 |
Cash Basis Income [Abstract] | |||
With No Related Allowance | 0 | 0 | 0 |
With a Related Allowance | 0 | 0 | 0 |
Impaired Financing Receivable, Related Allowance | $109 |
Loans_Loans_Modified_in_Troubl
Loans Loans Modified in Trouble Debt Restructurings (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | 5 | 10 | 19 |
Pre-Modification Outstanding Recorded Investment | $610 | $257 | $207 |
Post-Modification Outstanding Recorded Investment | 610 | 288 | 207 |
Subsequent Default, Number of Contracts | 0 | 0 | 0 |
Subsequent Default, Recorded Investment | 0 | 0 | 0 |
Commitments to lend additional funds to modified loans | 0 | 0 | 0 |
Commercial [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | 0 | 1 | 0 |
Pre-Modification Outstanding Recorded Investment | 0 | 169 | 0 |
Post-Modification Outstanding Recorded Investment | 0 | 200 | 0 |
Subsequent Default, Number of Contracts | 0 | 0 | 0 |
Subsequent Default, Recorded Investment | 0 | 0 | 0 |
Commitments to lend additional funds to modified loans | 0 | 0 | 0 |
Commercial Construction [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | 0 | 0 | 0 |
Pre-Modification Outstanding Recorded Investment | 0 | 0 | 0 |
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 |
Subsequent Default, Number of Contracts | 0 | 0 | 0 |
Subsequent Default, Recorded Investment | 0 | 0 | 0 |
Commitments to lend additional funds to modified loans | 0 | 0 | 0 |
Commercial Real Estate [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | 0 | 0 | 2 |
Pre-Modification Outstanding Recorded Investment | 0 | 0 | 47 |
Post-Modification Outstanding Recorded Investment | 0 | 0 | 47 |
Subsequent Default, Number of Contracts | 0 | 0 | 0 |
Subsequent Default, Recorded Investment | 0 | 0 | 0 |
Commitments to lend additional funds to modified loans | 0 | 0 | 0 |
Other Consumer [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | 0 | 0 | 0 |
Pre-Modification Outstanding Recorded Investment | 0 | 0 | 0 |
Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 |
Subsequent Default, Number of Contracts | 0 | 0 | 0 |
Subsequent Default, Recorded Investment | 0 | 0 | 0 |
Commitments to lend additional funds to modified loans | 0 | 0 | 0 |
Automobile [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | 4 | 9 | 17 |
Pre-Modification Outstanding Recorded Investment | 36 | 88 | 160 |
Post-Modification Outstanding Recorded Investment | 36 | 88 | 160 |
Subsequent Default, Number of Contracts | 0 | 0 | 0 |
Subsequent Default, Recorded Investment | 0 | 0 | 0 |
Commitments to lend additional funds to modified loans | 0 | 0 | 0 |
Residential [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | 1 | 0 | 0 |
Pre-Modification Outstanding Recorded Investment | 574 | 0 | 0 |
Post-Modification Outstanding Recorded Investment | 574 | 0 | 0 |
Subsequent Default, Number of Contracts | 0 | 0 | 0 |
Subsequent Default, Recorded Investment | 0 | 0 | 0 |
Commitments to lend additional funds to modified loans | $0 | $0 | $0 |
Loans_Supplemental_Loan_Inform
Loans Supplemental Loan Information (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Loans and Leases Receivable, Related Parties Disclosure [Abstract] | ||
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums | $2,771 | $2,152 |
Deposit Liabilities Reclassified as Loans Receivable | 973 | 501 |
Loans Pledged as Collateral | 313,355 | 270,372 |
Residential Real Estate Loans Serviced for Freddie Mac | 158,598 | 156,593 |
Disposal Group, Including Discontinued Operation, Mortgage Loans | 398 | 64 |
Loans to Related Parties [Roll Forward] | ||
Balance at beginning of year | 7,769 | 17,447 |
Adjustment due to change in composition of related parties | 0 | -8,819 |
New loans and renewals, during the year | 694 | 2,253 |
Repayments, during the year | -2,460 | -3,112 |
Balance at end of year | $6,003 | $7,769 |
Premises_and_Equipment_Details
Premises and Equipment (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ||
Total Cost | $58,283 | $57,155 |
Accumulated Depreciation and Amortization | -29,795 | -28,001 |
Net Premises and Equipment | 28,488 | 29,154 |
Land and Bank Premises [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total Cost | 35,062 | 35,114 |
Equipment, Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total Cost | 22,003 | 20,851 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total Cost | $1,218 | $1,190 |
Premises_and_Equipment_Supplem
Premises and Equipment Supplemental Information (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment [Abstract] | |||
Depreciation | $2,238 | $1,928 | $1,521 |
Other_Intangible_Assets_Schedu
Other Intangible Assets Schedule of Finite-Lived Intangible Assets (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Finite-Lived Intangible Assets [Line Items] | ||||||
Gross Carrying Amount | $8,413 | $8,280 | ||||
Accumulated Amortization | -4,788 | -4,140 | ||||
Net Carrying Amount | 3,625 | 4,140 | 4,492 | |||
Finite-lived Intangible Assets [Roll Forward] | ||||||
Finite-Lived Intangible Assets, Beginning Balance | 4,140 | 4,492 | 4,749 | |||
Intangible Assets Acquired | 133 | 331 | 417 | |||
Amortization of Intangible Assets | -648 | -683 | -674 | |||
Finite-Lived Intangible Assets, Ending Balance | 3,625 | 4,140 | 4,492 | |||
Depositor Intangibles [Member] | ||||||
Finite-Lived Intangible Assets [Line Items] | ||||||
Gross Carrying Amount | 2,247 | [1] | 2,247 | [1] | ||
Accumulated Amortization | -2,237 | [1] | -2,186 | [1] | ||
Net Carrying Amount | 10 | [1] | 61 | [1] | 153 | [1] |
Finite-lived Intangible Assets [Roll Forward] | ||||||
Finite-Lived Intangible Assets, Beginning Balance | 61 | [1] | 153 | [1] | 286 | [1] |
Intangible Assets Acquired | 0 | [1] | 0 | [1] | 0 | [1] |
Amortization of Intangible Assets | -51 | [1] | -92 | [1] | -133 | [1] |
Finite-Lived Intangible Assets, Ending Balance | 10 | [1] | 61 | [1] | 153 | [1] |
Mortgage Servicing Rights [Member] | ||||||
Finite-Lived Intangible Assets [Line Items] | ||||||
Gross Carrying Amount | 1,715 | [2] | 1,582 | [2] | ||
Accumulated Amortization | -883 | [2] | -622 | [2] | ||
Net Carrying Amount | 832 | [2] | 960 | [2] | 859 | [2] |
Finite-lived Intangible Assets [Roll Forward] | ||||||
Finite-Lived Intangible Assets, Beginning Balance | 960 | [2] | 859 | [2] | 599 | [2] |
Intangible Assets Acquired | 133 | [2] | 331 | [2] | 417 | [2] |
Amortization of Intangible Assets | -261 | [2] | -230 | [2] | -157 | [2] |
Finite-Lived Intangible Assets, Ending Balance | 832 | [2] | 960 | [2] | 859 | [2] |
Customer Intangibles [Member] | ||||||
Finite-Lived Intangible Assets [Line Items] | ||||||
Gross Carrying Amount | 4,451 | [1] | 4,451 | [1] | ||
Accumulated Amortization | -1,668 | [1] | -1,332 | [1] | ||
Net Carrying Amount | 2,783 | [1] | 3,119 | [1] | 3,480 | [1] |
Finite-lived Intangible Assets [Roll Forward] | ||||||
Finite-Lived Intangible Assets, Beginning Balance | 3,119 | [1] | 3,480 | [1] | 3,864 | [1] |
Intangible Assets Acquired | 0 | [1] | 0 | [1] | 0 | [1] |
Amortization of Intangible Assets | -336 | [1] | -361 | [1] | -384 | [1] |
Finite-Lived Intangible Assets, Ending Balance | $2,783 | [1] | $3,119 | [1] | $3,480 | [1] |
[1] | Amortization of depositor intangibles and customer intangibles are reported in the consolidated statements of income as a component of other operating expense. | |||||
[2] | Amortization of mortgage servicing rights is reported in the consolidated statements of income as a reduction of mortgage servicing fee income, which is included with fees for other services to customers. |
Other_Intangible_Assets_Schedu1
Other Intangible Assets Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||
In Thousands, unless otherwise specified | ||||||||
Estimated Annual Amoritzation Expense: [Abstract] | ||||||||
2015 | $581 | |||||||
2016 | 533 | |||||||
2017 | 453 | |||||||
2018 | 381 | |||||||
2019 | 290 | |||||||
Later Years | 1,387 | |||||||
Net Carrying Amount | 3,625 | 4,140 | 4,492 | 4,749 | ||||
Depositor Intangibles [Member] | ||||||||
Estimated Annual Amoritzation Expense: [Abstract] | ||||||||
2015 | 10 | [1] | ||||||
2016 | 0 | [1] | ||||||
2017 | 0 | [1] | ||||||
2018 | 0 | [1] | ||||||
2019 | 0 | [1] | ||||||
Later Years | 0 | [1] | ||||||
Net Carrying Amount | 10 | [1] | 61 | [1] | 153 | [1] | 286 | [1] |
Mortgage Servicing Rights [Member] | ||||||||
Estimated Annual Amoritzation Expense: [Abstract] | ||||||||
2015 | 252 | [2] | ||||||
2016 | 232 | [2] | ||||||
2017 | 172 | [2] | ||||||
2018 | 118 | [2] | ||||||
2019 | 45 | [2] | ||||||
Later Years | 13 | [2] | ||||||
Net Carrying Amount | 832 | [2] | 960 | [2] | 859 | [2] | 599 | [2] |
Customer Intangibles [Member] | ||||||||
Estimated Annual Amoritzation Expense: [Abstract] | ||||||||
2015 | 319 | [1] | ||||||
2016 | 301 | [1] | ||||||
2017 | 281 | [1] | ||||||
2018 | 263 | [1] | ||||||
2019 | 245 | [1] | ||||||
Later Years | 1,374 | [1] | ||||||
Net Carrying Amount | $2,783 | [1] | $3,119 | [1] | $3,480 | [1] | $3,864 | [1] |
[1] | Amortization of depositor intangibles and customer intangibles are reported in the consolidated statements of income as a component of other operating expense. | |||||||
[2] | Amortization of mortgage servicing rights is reported in the consolidated statements of income as a reduction of mortgage servicing fee income, which is included with fees for other services to customers. |
Guarantees_Details
Guarantees (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Guarantees [Abstract] | ||
Commitments to Extend Credit, Nominal Amount | $249,803 | $237,940 |
Standby Letters of Credit, Nominal Amount | 3,317 | 3,345 |
Commitments to Extend Credit, Fair Value | 0 | 0 |
Standby Letters of Credit, Fair Value | $39 | $65 |
Time_Deposits_Details
Time Deposits (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Year of Maturity | |
2015 | $124,406 |
2016 | 28,487 |
2017 | 19,869 |
2018 | 11,845 |
2019 | 17,126 |
2020 and Beyond | 4,110 |
Total | $205,843 |
Debt_Schedule_of_Short_Term_De
Debt Schedule of Short Term Debt (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Short-term Debt [Line Items] | ||
Short-term Borrowings | $60,421 | $64,777 |
Overnight Advances from the Federal Home Loan Bank of New York [Member] | ||
Short-term Debt [Line Items] | ||
Short-term Borrowings | 41,000 | 53,000 |
Maximum Borrowing Capacity | 203,885 | 214,000 |
Securities Sold under Agreements to Repurchase [Member] | ||
Short-term Debt [Line Items] | ||
Short-term Borrowings | 19,421 | 11,777 |
Federal Funds Purchased [Member] | ||
Short-term Debt [Line Items] | ||
Maximum Borrowing Capacity | 35,000 | 30,000 |
Federal Reserve Bank of New York [Member] | ||
Short-term Debt [Line Items] | ||
Maximum Borrowing Capacity | $307,159 | $302,000 |
Debt_Maturities_of_Long_Term_D
Debt Maturities of Long Term Debt (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Final Maturity Balances - First Year | $10,000 | $10,000 |
Final Maturity Balances - Second Year | 0 | 10,000 |
Final Maturity Balances - Third Year | 0 | 0 |
Final Maturity Balances - Total | $10,000 | $20,000 |
Final Maturity Weighted Average Rate - First Year | 3.88% | 1.43% |
Final Maturity Weighted Average Rate - Second Year | 0.00% | 3.88% |
Final Maturity Weighted Average Rate - Third Year | 0.00% | 0.00% |
Final Maturity Weighted Average Rate - Total | 3.88% | 2.66% |
Debt_Schedule_of_Longterm_Debt
Debt Schedule of Long-term Debt instruments (Details) (Junior Subordinated Debt [Member], USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
ACST II [Member] | ||
Debt Instrument [Line Items] | ||
Balance at December 31, | $10,000 | $10,000 |
Period-End Interest Rate | 3.38% | 3.40% |
ACST III [Member] | ||
Debt Instrument [Line Items] | ||
Balance at December 31, | $10,000 | $10,000 |
Period-End Interest Rate | 2.23% | 2.25% |
Comprehensive_Income_Other_Com
Comprehensive Income Other Comprehensive Income (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Schedule of Comprehensive Income [Line Items] | |||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | ($2,961) | $3,500 | ($2,246) |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 168 | 589 | 479 |
Other Comprehensive Income (Loss), before Tax | -4,547 | 6,772 | -2,925 |
Other Comprehensive Income (Loss), Tax | 1,754 | -2,683 | 1,158 |
Other Comprehensive (Loss) Income | -2,793 | 4,089 | -1,767 |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | |||
Schedule of Comprehensive Income [Line Items] | |||
Other Comprehensive Income (Loss), before Reclassifications, before Tax | 356 | -4,843 | -1,094 |
Other Comprehensive Income Loss Before Reclassifications Tax (Expense) Benefit | -124 | 1,918 | 433 |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 232 | -2,925 | -661 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | -110 | -540 | -865 |
Reclassification From Accumulated Other Comprehensive Income Current Period Tax (Expense) Benefit | 43 | 214 | 343 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | -67 | -326 | -522 |
Other Comprehensive (Loss) Income | 165 | -3,251 | -1,183 |
Accumulated Defined Benefit Plans Adjustment, Net Unamortized Gain (Loss) [Member] | |||
Schedule of Comprehensive Income [Line Items] | |||
Other Comprehensive Income (Loss), before Reclassifications, before Tax | -4,610 | 10,640 | -2,218 |
Other Comprehensive Income Loss Before Reclassifications Tax (Expense) Benefit | 1,764 | -4,215 | 878 |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | -2,846 | 6,425 | -1,340 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | 474 | 1,513 | 1,677 |
Reclassification From Accumulated Other Comprehensive Income Current Period Tax (Expense) Benefit | -186 | -599 | -664 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 288 | 914 | 1,013 |
Other Comprehensive (Loss) Income | -2,558 | 7,339 | -327 |
Accumulated Defined Benefit Plans Adjustment, Net Prior Service Cost (Credit) [Member] | |||
Schedule of Comprehensive Income [Line Items] | |||
Other Comprehensive Income (Loss), before Reclassifications, before Tax | -570 | -405 | |
Other Comprehensive Income Loss Before Reclassifications Tax (Expense) Benefit | 223 | 160 | |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | -347 | 0 | -245 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | -87 | 2 | -20 |
Reclassification From Accumulated Other Comprehensive Income Current Period Tax (Expense) Benefit | 34 | -1 | 8 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | -53 | 1 | -12 |
Other Comprehensive (Loss) Income | ($400) | $1 | ($257) |
Comprehensive_Income_Changes_i
Comprehensive Income Changes in Accumulated Other Comprehensive Income By Componenet (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated Other Comprehensive Loss | ($7,166) | ($4,373) | ($8,462) | $6,695 |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | -2,961 | 3,500 | -2,246 | |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 168 | 589 | 479 | |
Other Comprehensive (Loss) Income | -2,793 | 4,089 | -1,767 | |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated Other Comprehensive Loss | 2,539 | 2,374 | 5,625 | 6,808 |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 232 | -2,925 | -661 | |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | -67 | -326 | -522 | |
Other Comprehensive (Loss) Income | 165 | -3,251 | -1,183 | |
Accumulated Defined Benefit Plans Adjustment, Net Unamortized Gain (Loss) [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated Other Comprehensive Loss | -9,255 | -6,697 | -14,036 | -13,709 |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | -2,846 | 6,425 | -1,340 | |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 288 | 914 | 1,013 | |
Other Comprehensive (Loss) Income | -2,558 | 7,339 | -327 | |
Accumulated Defined Benefit Plans Adjustment, Net Prior Service Cost (Credit) [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated Other Comprehensive Loss | -450 | -50 | -51 | 206 |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | -347 | 0 | -245 | |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | -53 | 1 | -12 | |
Other Comprehensive (Loss) Income | ($400) | $1 | ($257) |
Comprehensive_Income_Reclassif
Comprehensive Income Reclassification Out of Accumulated Other Comprehensive Income (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Provision for Income Taxes | $10,174 | $9,079 | $9,661 |
Net Income (Loss) Available to Common Stockholders, Basic | -168 | -589 | -479 |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax | 110 | 540 | 865 |
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest | 110 | 540 | 865 |
Provision for Income Taxes | -43 | -214 | -343 |
Net Income (Loss) Available to Common Stockholders, Basic | 67 | 326 | 522 |
Accumulated Defined Benefit Plans Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Other Comprehensive (Income) Loss, Amortization Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Prior Service Cost (Credit), before Tax | 87 | -2 | 20 |
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, before Tax | -474 | -1,513 | -1,677 |
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest | -387 | -1,515 | -1,657 |
Provision for Income Taxes | 152 | 600 | 656 |
Net Income (Loss) Available to Common Stockholders, Basic | ($235) | ($915) | ($1,001) |
Stock_Based_Compensation_Roll_
Stock Based Compensation Roll Forward Schedule of Stock Option Plan by Shares and Weighted Average Exercise Prices (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Roll Forward of Shares Outstanding [Roll Forward] | |||
Outstanding, Beginning Balance, in shares | 397,177 | ||
Granted, in shares | 75,518 | 10,404 | 78,848 |
Exercised, in shares | -62,269 | ||
Forfeited, in shares | -8,984 | ||
Outstanding, Ending Balance, in shares | 401,442 | 397,177 | |
Exercisable at December 31, 2014, in shares | 266,654 | ||
Vested and Expected to Vest, in shares | 134,788 | ||
Roll Forward of Shares Outstanding - Weighted Average Exercise Price: [Roll Forward] | |||
Outstanding, Beginning Balance, in Weighted Average Exercise Price, | $22.44 | ||
Granted, in Weighted Average Exercise Price | $24.51 | ||
Exercised, in Weighted Average Exercise Price | $23.35 | ||
Forfeited, in Weighted Average Exercise Price | $23.89 | ||
Outstanding, Ending Balance, in Weighted Average Exercise Price, | $22.66 | $22.44 | |
Exercisable at December 31, 2014, in Weighted Average Exercise Price | $21.74 | ||
Vested and Expected to Vest, in Weighted Average Exercise Price | $24.47 | ||
Outstanding at December 31, 2014, Weighted Average Remaining Contractual Life, in years | 5 years 9 months 28 days | ||
Exercisable at December 31, 2014, Weighted Average Remaining Contractual Life, in years | 4 years 8 months 3 days | ||
Vested and Expected to Vest, Weighted Average Remaining Contractual Life, in years | 8 years 1 month 16 days | ||
Outstanding at December 31, 2014, Aggregate Intrinsic Value | $1,939 | ||
Exercisable at December 31, 2014, Aggregate Intrinsic Value | 1,533 | ||
Vested and Expected to Vest, Aggregate Intrinsic Value | $406 | ||
Shares Available for Grant at Period End, in shares | 445,000 |
Stock_Based_Compensation_Sched
Stock Based Compensation Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Number of Shares Outstanding, Outstanding Options, in shares | 401,442 |
Weighted-Average Remaining Contractual Life, Outstanding Options, in years | 5 years 9 months 28 days |
Weighted Average Exercise Price, Outstanding Options, in Weighted Average Exercise Price | $22.55 |
Number of Shares Outstanding, Exercisable Options, in shares | 266,654 |
Weighted-Average Remaining Contractual Life, Exercisable Options, in years | 4 years 8 months 3 days |
Weighted-Average Exercise Price, Exercisable Options, in Weighted Average Exercise Price | $21.74 |
Exercise Price Range $18.71 to $19.48 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Number of Shares Outstanding, Outstanding Options, in shares | 72,516 |
Weighted-Average Remaining Contractual Life, Outstanding Options, in years | 3 years 8 months 10 days |
Weighted Average Exercise Price, Outstanding Options, in Weighted Average Exercise Price | $19.24 |
Number of Shares Outstanding, Exercisable Options, in shares | 72,516 |
Weighted-Average Remaining Contractual Life, Exercisable Options, in years | 3 years 8 months 10 days |
Weighted-Average Exercise Price, Exercisable Options, in Weighted Average Exercise Price | $19.24 |
Exercise Price Range $20.82 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Number of Shares Outstanding, Outstanding Options, in shares | 27,470 |
Weighted-Average Remaining Contractual Life, Outstanding Options, in years | 1 year 11 months 2 days |
Weighted Average Exercise Price, Outstanding Options, in Weighted Average Exercise Price | $20.82 |
Number of Shares Outstanding, Exercisable Options, in shares | 27,470 |
Weighted-Average Remaining Contractual Life, Exercisable Options, in years | 1 year 11 months 2 days |
Weighted-Average Exercise Price, Exercisable Options, in Weighted Average Exercise Price | $20.82 |
Exercise Price Range $21.83 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Number of Shares Outstanding, Outstanding Options, in shares | 64,829 |
Weighted-Average Remaining Contractual Life, Outstanding Options, in years | 5 years 0 months 28 days |
Weighted Average Exercise Price, Outstanding Options, in Weighted Average Exercise Price | $21.83 |
Number of Shares Outstanding, Exercisable Options, in shares | 64,829 |
Weighted-Average Remaining Contractual Life, Exercisable Options, in years | 5 years 0 months 28 days |
Weighted-Average Exercise Price, Exercisable Options, in Weighted Average Exercise Price | $21.83 |
Exercise Price Range $23.30 to $23.95 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Number of Shares Outstanding, Outstanding Options, in shares | 153,236 |
Weighted-Average Remaining Contractual Life, Outstanding Options, in years | 6 years 7 months 27 days |
Weighted Average Exercise Price, Outstanding Options, in Weighted Average Exercise Price | $23.61 |
Number of Shares Outstanding, Exercisable Options, in shares | 92,333 |
Weighted-Average Remaining Contractual Life, Exercisable Options, in years | 6 years 5 months 10 days |
Weighted-Average Exercise Price, Exercisable Options, in Weighted Average Exercise Price | $23.56 |
Exercise Price Range $24.51 to $25.27 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Number of Shares Outstanding, Outstanding Options, in shares | 83,391 |
Weighted-Average Remaining Contractual Life, Outstanding Options, in years | 8 years 0 months 18 days |
Weighted Average Exercise Price, Outstanding Options, in Weighted Average Exercise Price | $24.60 |
Number of Shares Outstanding, Exercisable Options, in shares | 9,506 |
Weighted-Average Remaining Contractual Life, Exercisable Options, in years | 8 years 0 months 18 days |
Weighted-Average Exercise Price, Exercisable Options, in Weighted Average Exercise Price | $25.27 |
Stock_Based_Compensation_Sched1
Stock Based Compensation Schedule of Other Stock Option Plan Information (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | |||
Granted, in shares | 75,518 | 10,404 | 78,848 |
Fair Value of Options Granted, Weighted Average Grant Date, in dollars per share | $5.92 | $5.35 | $5.77 |
Dividend Yield | 3.97% | 4.20% | 3.93% |
Expected Volatility | 35.30% | 36.57% | 37.43% |
Risk Free Interest Rate | 2.19% | 1.31% | 1.22% |
Expected Life, in years | 6 years 10 months 6 days | 6 years 8 months 15 days | 6 years 5 months 16 days |
Stock-Based Compensation Expense | $360 | $372 | $424 |
Compensation Costs for Non-vested Awards Not Yet Recognized | 478 | 420 | 737 |
Weighted Average Expected Vesting Period, In Years | 1 year 8 months 5 days | 1 year 5 months 13 days | 1 year 8 months 15 days |
Proceeds From Stock Options Exercised | 1,454 | 1,254 | 2,105 |
Tax Benefit for Disposition of Stock Options | 25 | 23 | 68 |
Intrinsic Value of Stock Options Exercised | $170 | $267 | $2,434 |
Stock_Based_Compensation_Sched2
Stock Based Compensation Schedule of Employee Stock Ownership Plans (ESOP) Disclosure (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Employee Stock Ownership Plan (ESOP), Shares in ESOP [Abstract] | |||
ESOP Compensation Expense | $800 | $600 | $550 |
Allocated Shares, in shares | 690,853 | ||
Shares Released for Allocation During 2012, in shares | 17,300 | ||
Unallocated Shares, in shares | 71,748 | ||
Total ESOP Shares, in shares | 779,901 | ||
Market Value of Unallocated ESOP Shares | $1,972 |
Retirement_Benefit_Plans_Detai
Retirement Benefit Plans (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | $45,704 | $44,653 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, Beginning of Period | 44,653 | |||||
Fair Value of Plan Assets, End of Period | 45,704 | 44,653 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 45,704 | 44,653 | ||||
Percent of Total | 100.00% | 100.00% | ||||
Expected Future Benefit Payments [Abstract] | ||||||
Health Care Cost Trend Rate Assumed for Next Year | 8.00% | 8.50% | ||||
Rate to which the Cost Trend Rate is Assumed to Decline (the Ultimate Trend Rate) | 3.89% | 5.00% | ||||
Year that the Rate Reaches the Ultimate Trend Rate | 2075 | 2021 | ||||
Effect of One Percentage Point Increase on Service and Interest Cost Components | 60 | |||||
Effect of One Percentage Point Decrease on Service and Interest Cost Components | -49 | |||||
Effect of One Percentage Point Increase on Accumulated Postretirement Benefit Obligation | 782 | |||||
Effect of One Percentage Point Decrease on Accumulated Postretirement Benefit Obligation | -664 | |||||
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 45,704 | 44,653 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, End of Period | 45,704 | 44,653 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 45,704 | 44,653 | ||||
Significant Other Observable Inputs (Level 2) [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, End of Period | 0 | 0 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Significant Unobservable Inputs (Level 3) [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, End of Period | 0 | 0 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Cash and Cash Equivalents [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 20 | 7 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, Beginning of Period | 7 | |||||
Fair Value of Plan Assets, End of Period | 20 | 7 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 20 | 7 | ||||
Percent of Total | 0.00% | 0.00% | ||||
Target Allocation Minimum, Percentage | 0.00% | 0.00% | ||||
Target Allocation Maximum, Percentage | 15.00% | 15.00% | ||||
Cash and Cash Equivalents [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 20 | 7 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, End of Period | 20 | 7 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 20 | 7 | ||||
Cash and Cash Equivalents [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, End of Period | 0 | 0 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Cash and Cash Equivalents [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, End of Period | 0 | 0 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Money Market Funds [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 4,322 | 3,941 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, Beginning of Period | 3,941 | |||||
Fair Value of Plan Assets, End of Period | 4,322 | 3,941 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 4,322 | 3,941 | ||||
Percent of Total | 9.50% | 8.80% | ||||
Target Allocation Minimum, Percentage | 0.00% | 0.00% | ||||
Target Allocation Maximum, Percentage | 15.00% | 15.00% | ||||
Money Market Funds [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 4,322 | 3,941 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, End of Period | 4,322 | 3,941 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 4,322 | 3,941 | ||||
Money Market Funds [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, End of Period | 0 | 0 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Money Market Funds [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, End of Period | 0 | 0 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Common Stock | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 4,551 | 4,291 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, Beginning of Period | 4,291 | |||||
Fair Value of Plan Assets, End of Period | 4,551 | 4,291 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 4,551 | 4,291 | ||||
Percent of Total | 10.00% | [1] | 9.60% | |||
Target Allocation Minimum, Percentage | 0.00% | 0.00% | ||||
Target Allocation Maximum, Percentage | 10.00% | 10.00% | ||||
Common Stock | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 4,551 | 4,291 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, End of Period | 4,551 | 4,291 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 4,551 | 4,291 | ||||
Common Stock | Significant Other Observable Inputs (Level 2) [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, End of Period | 0 | 0 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Common Stock | Significant Unobservable Inputs (Level 3) [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, End of Period | 0 | 0 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Equity Funds [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 29,929 | 31,757 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, Beginning of Period | 31,757 | |||||
Fair Value of Plan Assets, End of Period | 29,929 | 31,757 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 29,929 | 31,757 | ||||
Percent of Total | 65.40% | 71.20% | ||||
Target Allocation Minimum, Percentage | 66.00% | 55.00% | ||||
Target Allocation Maximum, Percentage | 85.00% | 85.00% | ||||
Equity Funds [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 29,929 | 31,757 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, End of Period | 29,929 | 31,757 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 29,929 | 31,757 | ||||
Equity Funds [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, End of Period | 0 | 0 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Equity Funds [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, End of Period | 0 | 0 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Equity Funds [Member] | North Country Funds - Equity [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 18,975 | [2] | 17,419 | [2] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, Beginning of Period | 17,419 | [2] | ||||
Fair Value of Plan Assets, End of Period | 18,975 | [2] | 17,419 | [2] | ||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 18,975 | [2] | 17,419 | [2] | ||
Percent of Total | 41.40% | [2] | 39.10% | [2] | ||
Target Allocation Minimum, Percentage | ||||||
Target Allocation Maximum, Percentage | ||||||
Equity Funds [Member] | North Country Funds - Equity [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 18,975 | [2] | 17,419 | [2] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, End of Period | 18,975 | [2] | 17,419 | [2] | ||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 18,975 | [2] | 17,419 | [2] | ||
Equity Funds [Member] | North Country Funds - Equity [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 0 | [2] | 0 | [2] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, End of Period | 0 | [2] | 0 | [2] | ||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 0 | [2] | 0 | [2] | ||
Equity Funds [Member] | North Country Funds - Equity [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 0 | [2] | 0 | [2] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, End of Period | 0 | [2] | 0 | [2] | ||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 0 | [2] | 0 | [2] | ||
Equity Funds [Member] | Other Mutual Funds - Equity [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 10,954 | 14,338 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, Beginning of Period | 14,338 | |||||
Fair Value of Plan Assets, End of Period | 10,954 | 14,338 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 10,954 | 14,338 | ||||
Percent of Total | 24.00% | 32.10% | ||||
Target Allocation Minimum, Percentage | ||||||
Target Allocation Maximum, Percentage | ||||||
Equity Funds [Member] | Other Mutual Funds - Equity [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 10,954 | 14,338 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, End of Period | 10,954 | 14,338 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 10,954 | 14,338 | ||||
Equity Funds [Member] | Other Mutual Funds - Equity [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, End of Period | 0 | 0 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Equity Funds [Member] | Other Mutual Funds - Equity [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, End of Period | 0 | 0 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Fixed Income Funds [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 6,882 | 4,657 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, Beginning of Period | 4,657 | |||||
Fair Value of Plan Assets, End of Period | 6,882 | 4,657 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 6,882 | 4,657 | ||||
Percent of Total | 15.10% | 10.40% | ||||
Target Allocation Minimum, Percentage | 15.00% | 10.00% | ||||
Target Allocation Maximum, Percentage | 30.00% | 30.00% | ||||
Fixed Income Funds [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 6,882 | 4,657 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, End of Period | 6,882 | 4,657 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 6,882 | 4,657 | ||||
Fixed Income Funds [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, End of Period | 0 | 0 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Fixed Income Funds [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, End of Period | 0 | 0 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Fixed Income Funds [Member] | North Country Funds - Fixed Income [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 5,436 | [2] | 4,309 | [2] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, Beginning of Period | 4,309 | [2] | ||||
Fair Value of Plan Assets, End of Period | 5,436 | [2] | 4,309 | [2] | ||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 5,436 | [2] | 4,309 | [2] | ||
Percent of Total | 11.90% | [2] | 9.60% | [2] | ||
Target Allocation Minimum, Percentage | ||||||
Target Allocation Maximum, Percentage | ||||||
Fixed Income Funds [Member] | North Country Funds - Fixed Income [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 5,436 | [2] | 4,309 | [2] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, End of Period | 5,436 | [2] | 4,309 | [2] | ||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 5,436 | [2] | 4,309 | [2] | ||
Fixed Income Funds [Member] | North Country Funds - Fixed Income [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 0 | [2] | 0 | [2] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, End of Period | 0 | [2] | 0 | [2] | ||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 0 | [2] | 0 | [2] | ||
Fixed Income Funds [Member] | North Country Funds - Fixed Income [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 0 | [2] | 0 | [2] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, End of Period | 0 | [2] | 0 | [2] | ||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 0 | [2] | 0 | [2] | ||
Fixed Income Funds [Member] | Other Mutual Funds - Fixed Income [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 1,446 | 348 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, Beginning of Period | 348 | |||||
Fair Value of Plan Assets, End of Period | 1,446 | 348 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 1,446 | 348 | ||||
Percent of Total | 3.20% | 0.80% | ||||
Target Allocation Minimum, Percentage | ||||||
Target Allocation Maximum, Percentage | ||||||
Fixed Income Funds [Member] | Other Mutual Funds - Fixed Income [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 1,446 | 348 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, End of Period | 1,446 | 348 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 1,446 | 348 | ||||
Fixed Income Funds [Member] | Other Mutual Funds - Fixed Income [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, End of Period | 0 | 0 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Fixed Income Funds [Member] | Other Mutual Funds - Fixed Income [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, End of Period | 0 | 0 | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | ||||
Employees' Pension Plan [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 45,704 | 44,653 | 39,880 | |||
Benefit Obligation | 36,966 | 33,259 | 37,046 | |||
Funded Status of Plan | 8,738 | 11,394 | ||||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ||||||
Benefit Obligation, Beginning of Period | 36,966 | 33,259 | 37,046 | |||
Service Cost | 1,410 | 1,506 | 1,467 | |||
Interest Cost | 1,621 | 1,261 | 1,436 | |||
Plan Participants' Contributions | 0 | 0 | ||||
Amendments | 0 | 0 | ||||
Actuarial Loss | 2,909 | -3,820 | ||||
Benefits Paid | -2,233 | -2,734 | ||||
Benefit Obligation, End of Period | 36,966 | 33,259 | 37,046 | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, Beginning of Period | 45,704 | 44,653 | 39,880 | |||
Actual Return on Plan Assets | 3,284 | 7,507 | ||||
Contributions to Pension Plans | 0 | 0 | ||||
Plan Participants' Contributions | 0 | 0 | ||||
Benefits Paid | -2,233 | -2,734 | ||||
Fair Value of Plan Assets, End of Period | 45,704 | 44,653 | 39,880 | |||
Accumulated Benefit Obligation at December 31, 2012 | 36,530 | |||||
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | ||||||
Prepaid Benefit Cost | 8,738 | 11,394 | ||||
Accrued Benefit Liability | 0 | 0 | ||||
Net Benefit Cost Recognized | 8,738 | 11,394 | ||||
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract] | ||||||
Net Retirement Plan Loss, Before-Tax Amount | 2,855 | -8,438 | 1,286 | |||
Net prior Service Cost Arising During the Period | 0 | 0 | 0 | |||
Amortization of Net Loss | -356 | -1,231 | -1,387 | |||
Accretion of Net Retirement Plan Prior Service Credit, Tax (Expense) Benefit | 45 | -37 | -41 | |||
Total Other Comprehensive (Loss) Income for Pension and Other Postretirement Benefit Plans | 2,544 | -9,706 | -142 | |||
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax [Abstract] | ||||||
Net Actuarial Loss | 10,856 | 8,357 | ||||
Prior Service (Credit) Cost | -210 | -255 | ||||
Total Accumulated Other Comprehensive Income, Before Tax | 10,646 | 8,102 | ||||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ||||||
Service Cost | 1,410 | 1,506 | 1,467 | |||
Interest Cost | 1,621 | 1,261 | 1,436 | |||
Expected Return on Plan Assets | -3,230 | -2,889 | -2,865 | |||
Amortization of Prior Service (Credit) Cost | -45 | 37 | 41 | |||
Amortization of Net Loss | 356 | 1,232 | 1,387 | |||
Net Periodic Benefit Cost | 112 | 1,147 | 1,466 | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | ||||||
Discount Rate | 4.31% | 5.10% | ||||
Rate of Compensation Increase | 3.50% | 3.50% | ||||
Interest Rate Credit for Determining Projected Cash Balance Account | 3.04% | 4.00% | ||||
Interest Rate to Annuitize Cash Balance Account | 4.75% | 5.25% | ||||
Interest Rate to Convert Annuities to Actuarially Equivalent Lump Sum Account | 4.75% | 5.25% | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Discount Rate | 5.10% | 3.55% | 4.05% | |||
Expected Long-Term Return on Assets | 7.50% | 7.50% | 7.50% | |||
Rate of Compensation Increase | 3.50% | 3.50% | 3.50% | |||
Interest Rate Credit for Determining Projected Cash Balance Account | 4.00% | 3.00% | 3.25% | |||
Interest Rate to Annuitize Cash Balance Account | 5.25% | 4.50% | 5.00% | |||
Interest Rate to Convert Accuities to Actuarially Equivalent Lump Sum Amounts | 5.25% | 4.50% | 5.00% | |||
Fair Value of Plan Assets | 45,704 | 44,653 | 39,880 | |||
Expected Future Benefit Payments [Abstract] | ||||||
2015 | 2,163 | |||||
2016 | 2,334 | |||||
2017 | 2,356 | |||||
2018 | 2,253 | |||||
2019 | 2,256 | |||||
2020 - 2024 | 12,799 | |||||
Estimated Contributions During 2015 | 0 | |||||
Employees' Pension Plan [Member] | Scenario, Forecast [Member] | ||||||
Pension and Other Postretirement Benefit Plans, Amounts that Will be Amortized from Accumulated Other Comprehensive Income (Loss) in Next Fiscal Year [Abstract] | ||||||
Net Actuarial Loss | 556 | |||||
Prior Service (Credit) Cost | -83 | |||||
Select Executive Retirement Plan [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | 0 | |||
Benefit Obligation | 5,072 | 4,459 | 5,324 | |||
Funded Status of Plan | -5,072 | -4,459 | ||||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ||||||
Benefit Obligation, Beginning of Period | 5,072 | 4,459 | 5,324 | |||
Service Cost | 10 | 0 | 87 | |||
Interest Cost | 206 | 163 | 190 | |||
Plan Participants' Contributions | 0 | 0 | ||||
Amendments | 0 | 0 | ||||
Actuarial Loss | 870 | -555 | ||||
Benefits Paid | -473 | -473 | ||||
Benefit Obligation, End of Period | 5,072 | 4,459 | 5,324 | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, Beginning of Period | 0 | 0 | 0 | |||
Actual Return on Plan Assets | 0 | 0 | ||||
Contributions to Pension Plans | 473 | 473 | ||||
Plan Participants' Contributions | 0 | 0 | ||||
Benefits Paid | -473 | -473 | ||||
Fair Value of Plan Assets, End of Period | 0 | 0 | 0 | |||
Accumulated Benefit Obligation at December 31, 2012 | 5,072 | |||||
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | ||||||
Prepaid Benefit Cost | 0 | 0 | ||||
Accrued Benefit Liability | -5,072 | -4,459 | ||||
Net Benefit Cost Recognized | -5,072 | -4,459 | ||||
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract] | ||||||
Net Retirement Plan Loss, Before-Tax Amount | 871 | -554 | 441 | |||
Net prior Service Cost Arising During the Period | 0 | 0 | 405 | |||
Amortization of Net Loss | -93 | -140 | -156 | |||
Accretion of Net Retirement Plan Prior Service Credit, Tax (Expense) Benefit | -72 | -79 | -53 | |||
Total Other Comprehensive (Loss) Income for Pension and Other Postretirement Benefit Plans | 706 | -773 | 637 | |||
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax [Abstract] | ||||||
Net Actuarial Loss | 2,452 | 1,674 | ||||
Prior Service (Credit) Cost | 570 | 642 | ||||
Total Accumulated Other Comprehensive Income, Before Tax | 3,022 | 2,316 | ||||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ||||||
Service Cost | 10 | 0 | 87 | |||
Interest Cost | 206 | 163 | 190 | |||
Expected Return on Plan Assets | 0 | 0 | 0 | |||
Amortization of Prior Service (Credit) Cost | 72 | 79 | 53 | |||
Amortization of Net Loss | 93 | 139 | 156 | |||
Net Periodic Benefit Cost | 381 | 381 | 486 | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | ||||||
Discount Rate | 4.26% | 4.85% | ||||
Rate of Compensation Increase | 3.50% | 3.50% | ||||
Interest Rate to Convert Annuities to Actuarially Equivalent Lump Sum Account | 4.75% | 5.25% | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Discount Rate | 4.85% | 3.15% | 4.05% | |||
Rate of Compensation Increase | 3.50% | 3.50% | 3.50% | |||
Interest Rate to Convert Accuities to Actuarially Equivalent Lump Sum Amounts | 5.25% | 4.50% | 5.00% | |||
Fair Value of Plan Assets | 0 | 0 | 0 | |||
Expected Future Benefit Payments [Abstract] | ||||||
2015 | 438 | |||||
2016 | 429 | |||||
2017 | 419 | |||||
2018 | 409 | |||||
2019 | 399 | |||||
2020 - 2024 | 1,826 | |||||
Estimated Contributions During 2015 | 438 | |||||
Select Executive Retirement Plan [Member] | Scenario, Forecast [Member] | ||||||
Pension and Other Postretirement Benefit Plans, Amounts that Will be Amortized from Accumulated Other Comprehensive Income (Loss) in Next Fiscal Year [Abstract] | ||||||
Net Actuarial Loss | 121 | |||||
Prior Service (Credit) Cost | 58 | |||||
Postretirement Benefit Plans [Member] | ||||||
Defined Benefit Plan, Funded Status of Plan [Abstract] | ||||||
Fair Value of Plan Assets | 0 | 0 | 0 | |||
Benefit Obligation | 9,170 | 7,619 | 9,213 | |||
Funded Status of Plan | -9,170 | -7,619 | ||||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ||||||
Benefit Obligation, Beginning of Period | 9,170 | 7,619 | 9,213 | |||
Service Cost | 173 | 211 | 202 | |||
Interest Cost | 374 | 308 | 338 | |||
Plan Participants' Contributions | 383 | 368 | ||||
Amendments | 570 | 0 | ||||
Actuarial Loss | 884 | -1,648 | ||||
Benefits Paid | -833 | -833 | ||||
Benefit Obligation, End of Period | 9,170 | 7,619 | 9,213 | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair Value of Plan Assets, Beginning of Period | 0 | 0 | 0 | |||
Actual Return on Plan Assets | 0 | 0 | ||||
Contributions to Pension Plans | 450 | 465 | ||||
Plan Participants' Contributions | 383 | 368 | ||||
Benefits Paid | -833 | -833 | ||||
Fair Value of Plan Assets, End of Period | 0 | 0 | 0 | |||
Accumulated Benefit Obligation at December 31, 2012 | 9,170 | |||||
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | ||||||
Prepaid Benefit Cost | 0 | 0 | ||||
Accrued Benefit Liability | -9,170 | -7,619 | ||||
Net Benefit Cost Recognized | -9,170 | -7,619 | ||||
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract] | ||||||
Net Retirement Plan Loss, Before-Tax Amount | 884 | -1,648 | 491 | |||
Net prior Service Cost Arising During the Period | 570 | 0 | 0 | |||
Amortization of Net Loss | -25 | -142 | -134 | |||
Accretion of Net Retirement Plan Prior Service Credit, Tax (Expense) Benefit | 114 | 114 | 114 | |||
Total Other Comprehensive (Loss) Income for Pension and Other Postretirement Benefit Plans | 1,543 | -1,676 | 471 | |||
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax [Abstract] | ||||||
Net Actuarial Loss | 1,919 | 1,060 | ||||
Prior Service (Credit) Cost | 379 | -305 | ||||
Total Accumulated Other Comprehensive Income, Before Tax | 2,298 | 755 | ||||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ||||||
Service Cost | 173 | 211 | 202 | |||
Interest Cost | 374 | 308 | 338 | |||
Expected Return on Plan Assets | 0 | 0 | 0 | |||
Amortization of Prior Service (Credit) Cost | -114 | -114 | -114 | |||
Amortization of Net Loss | 25 | 142 | 134 | |||
Net Periodic Benefit Cost | 458 | 547 | 560 | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | ||||||
Discount Rate | 4.31% | 5.10% | ||||
Rate of Compensation Increase | 3.50% | 3.50% | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||||
Discount Rate | 5.10% | 3.55% | 4.05% | |||
Rate of Compensation Increase | 3.50% | 3.50% | 3.50% | |||
Fair Value of Plan Assets | 0 | 0 | 0 | |||
Expected Future Benefit Payments [Abstract] | ||||||
2015 | 536 | |||||
2016 | 554 | |||||
2017 | 565 | |||||
2018 | 584 | |||||
2019 | 615 | |||||
2020 - 2024 | 3,323 | |||||
Estimated Contributions During 2015 | 536 | |||||
Postretirement Benefit Plans [Member] | Scenario, Forecast [Member] | ||||||
Pension and Other Postretirement Benefit Plans, Amounts that Will be Amortized from Accumulated Other Comprehensive Income (Loss) in Next Fiscal Year [Abstract] | ||||||
Net Actuarial Loss | 95 | |||||
Prior Service (Credit) Cost | ($31) | |||||
[1] | Acquisition of Arrow Financial Corporation common stock was under 10% of the total fair value of the employee's pension plan assets at the time of acquisition. | |||||
[2] | The North Country Funds - Equity and the North Country Funds - Fixed Income are publicly traded mutual funds advised by Arrow's subsidiary, North Country Investment Advisers, Inc. |
Other_Expenses_Details
Other Expenses (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Other Income and Expenses [Abstract] | |||
Computer Services | $3,659 | $3,261 | $2,263 |
Legal and Other Professional Fees | 1,836 | 1,823 | 1,962 |
Postage and Courier | 1,084 | 1,046 | 1,040 |
Stationery and Printing | 851 | 905 | 975 |
Advertising and Promotion | 886 | 879 | 831 |
Telephone and Communications | 746 | 804 | 808 |
Intangible Asset Amortization | 387 | 452 | 518 |
All Other | 3,531 | 3,486 | 3,243 |
Total Other Operating Expense | $12,980 | $12,656 | $11,640 |
Income_Taxes_Current_Income_Ta
Income Taxes Current Income Tax Expense (Benefit), Continuing Operations(Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current Tax Expense: Federal | $9,270 | $7,933 | $8,763 |
Current Tax Expense: State | 1,203 | 852 | 1,251 |
Total Current Tax Expense | 10,473 | 8,785 | 10,014 |
Deferred Tax Expense: Federal | -315 | 172 | -290 |
Deferred Tax Expense: State | 16 | 122 | -63 |
Total Deferred Tax Expense (Benefit) | -299 | 294 | -353 |
Income Tax Expense (Benefit), Continuing Operations | $10,174 | $9,079 | $9,661 |
Income_Taxes_Effective_Income_
Income Taxes Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | |||
Computed Tax Expense at Statutory Rate | $11,737 | $10,806 | $11,144 |
Tax-Exempt Income | -2,215 | -2,238 | -2,132 |
Nondeductible Interest Expense | 51 | 80 | 95 |
State Taxes, Net of Federal Income Tax Benefit | 791 | 633 | 814 |
Other Items, Net | -190 | -202 | -260 |
Income Tax Expense (Benefit), Continuing Operations | $10,174 | $9,079 | $9,661 |
Income_Taxes_Components_of_Def
Income Taxes Components of Deferred Tax Assets and Liabilities (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deferred Tax Assets, Gross [Abstract] | ||
Allowance for Loan Losses | $6,113 | $5,794 |
Pension and Deferred Compensation Plans | 3,885 | 3,999 |
Pension Liability Included in Accumulated Other Comprehensive Income | 6,263 | 4,426 |
Other | 614 | 566 |
Total Gross Deferred Tax Assets | 16,875 | 14,785 |
Valuation Allowance for Deferred Tax Assets | 0 | 0 |
Total Gross Deferred Tax Assets, Net of Valuation Allowance | 16,875 | 14,785 |
Deferred Tax Liabilities, Gross [Abstract] | ||
Pension Plans | 7,604 | 7,724 |
Depreciation | 1,222 | 1,561 |
Deferred Income | 3,927 | 3,526 |
Net Unrealized Gains on Securities Available-for-Sale Included in Accumulated Other Comprehensive Income | 1,638 | 1,557 |
Goodwill | 5,242 | 5,230 |
Total Gross Deferred Tax Liabilites | $19,633 | $19,598 |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 12 Months Ended | ||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||
Earnings Per Share [Abstract] | |||||
Net Income | $23,360 | $21,795 | $22,179 | ||
Basic Shares, in Shares | 12,604 | 12,542 | [1] | 12,492 | [1] |
Basic Earnings, in Earnings Per Share | $1.85 | $1.74 | [1] | $1.78 | [1] |
Dilutive Average Shares Attributable to Stock Options, in Shares | 29 | 31 | 10 | ||
Weighted Average Shares - Diluted, in Shares | 12,633 | 12,573 | [1] | 12,502 | [1] |
Diluted Earnings, In Earnings Per Share | $1.85 | $1.73 | [1] | $1.77 | [1] |
Antidilutive Shares Excluded from the Calculation of Earnings Per Share, in Shares | 0 | 47 | 203 | ||
[1] | Share and Per Share Amounts have been restated for the September 2014 2% stock dividend. |
Fair_Values_Fair_Value_Recurri
Fair Values Fair Value - Recurring and Nonrecurring (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | $366,139 | $457,606 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 366,139 | 457,606 |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 366,139 | 457,606 |
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral Dependent Impaired Loans | 574 | |
Other Real Estate and Repossessed Assets, Net | 393 | 144 |
Fair Value, Measurements, Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral Dependent Impaired Loans | 0 | |
Other Real Estate and Repossessed Assets, Net | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral Dependent Impaired Loans | 0 | |
Other Real Estate and Repossessed Assets, Net | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral Dependent Impaired Loans | 574 | |
Other Real Estate and Repossessed Assets, Net | 393 | 144 |
Fair Value, Measurements, Nonrecurring [Member] | Total Gains (Losses) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral Dependent Impaired Loans | -109 | |
Other Real Estate and Repossessed Assets, Net | -15 | -79 |
U.S. Agency Obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 137,603 | 136,475 |
U.S. Agency Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 0 | 0 |
U.S. Agency Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 137,603 | 136,475 |
U.S. Agency Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 0 | 0 |
State and Municipal Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 81,730 | 127,389 |
State and Municipal Obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 81,730 | 127,389 |
State and Municipal Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 0 | 0 |
State and Municipal Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 81,730 | 127,389 |
State and Municipal Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 0 | 0 |
Mortgage-Backed Securities - Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 128,827 | 175,778 |
Mortgage-Backed Securities - Residential [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 128,827 | 175,778 |
Mortgage-Backed Securities - Residential [Member] | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 0 | 0 |
Mortgage-Backed Securities - Residential [Member] | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 128,827 | 175,778 |
Mortgage-Backed Securities - Residential [Member] | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 0 | 0 |
Corporate and Other Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 16,725 | 16,798 |
Corporate and Other Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 16,725 | 16,798 |
Corporate and Other Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 0 | 0 |
Corporate and Other Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 16,725 | 16,798 |
Corporate and Other Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 0 | 0 |
Mututal Funds and Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 1,254 | 1,166 |
Mututal Funds and Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 1,254 | 1,166 |
Mututal Funds and Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 0 | 0 |
Mututal Funds and Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 1,254 | 1,166 |
Mututal Funds and Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | $0 | $0 |
Fair_Values_Fair_Value_By_Bala
Fair Values Fair Value By Balance Sheet Grouping (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and Cash Equivalents | $46,295 | $49,980 | $48,832 | $43,736 |
Available-for-sale Securities | 366,139 | 457,606 | ||
Held-to-Maturity Securities | 302,024 | 299,261 | ||
Held-to-maturity Securities, at Fair Value | 308,566 | 302,305 | ||
Federal Home Loan Bank and Federal Reserve Bank Stock | 4,851 | 6,281 | ||
Net Loans | 1,397,698 | 1,252,038 | ||
Deposits | 1,902,948 | 1,842,330 | ||
Federal Home Loan Bank Term Advances | 10,000 | 20,000 | ||
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts | 20,000 | 20,000 | ||
Carrying Amount [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and Cash Equivalents | 46,295 | 49,980 | ||
Available-for-sale Securities | 366,139 | 457,606 | ||
Held-to-Maturity Securities | 302,024 | 299,261 | ||
Federal Home Loan Bank and Federal Reserve Bank Stock | 4,851 | 6,281 | ||
Net Loans | 1,397,698 | 1,252,038 | ||
Accrued Interest Receivable | 5,834 | 5,745 | ||
Deposits | 1,902,948 | 1,842,330 | ||
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase | 19,421 | 11,777 | ||
Federal Home Loan Bank Term Advances | 51,000 | 73,000 | ||
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts | 20,000 | 20,000 | ||
Accrued Interest Payable | 274 | 439 | ||
Fair Value [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 46,295 | 49,980 | ||
Available-for-sale Securities | 366,139 | 457,606 | ||
Held-to-maturity Securities, at Fair Value | 308,566 | 302,305 | ||
Federal Home Loan Bank Stock and Federal Reserve Bank Stock, Fair Value Disclosure | 4,851 | 6,281 | ||
Net Loans, Fair Value Disclosure | 1,405,454 | 1,266,020 | ||
Accrued Interest Receivable, Fair Value Disclosure | 5,834 | 5,745 | ||
Deposits, Fair Value Disclosure | 1,899,682 | 1,839,613 | ||
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase, Fair Value Disclosure | 19,421 | 11,777 | ||
Federal Home Loan Bank Term Advances, Fair Value Disclosure | 51,258 | 74,629 | ||
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts, Fair Value Disclosure | 20,000 | 20,000 | ||
Accrued Interest Payable, Fair Value Disclosure | 274 | 439 | ||
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 46,295 | 49,980 | ||
Available-for-sale Securities | 0 | 0 | ||
Held-to-maturity Securities, at Fair Value | 0 | 0 | ||
Federal Home Loan Bank Stock and Federal Reserve Bank Stock, Fair Value Disclosure | 4,851 | 6,281 | ||
Net Loans, Fair Value Disclosure | 0 | 0 | ||
Accrued Interest Receivable, Fair Value Disclosure | 5,834 | 5,745 | ||
Deposits, Fair Value Disclosure | 1,697,105 | 1,595,103 | ||
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase, Fair Value Disclosure | 19,421 | 11,777 | ||
Federal Home Loan Bank Term Advances, Fair Value Disclosure | 41,000 | 53,000 | ||
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts, Fair Value Disclosure | 0 | 0 | ||
Accrued Interest Payable, Fair Value Disclosure | 274 | 439 | ||
Significant Other Observable Inputs (Level 2) [Member] | Fair Value [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 | ||
Available-for-sale Securities | 366,139 | 457,606 | ||
Held-to-maturity Securities, at Fair Value | 308,566 | 302,305 | ||
Federal Home Loan Bank Stock and Federal Reserve Bank Stock, Fair Value Disclosure | 0 | 0 | ||
Net Loans, Fair Value Disclosure | 0 | 0 | ||
Accrued Interest Receivable, Fair Value Disclosure | 0 | 0 | ||
Deposits, Fair Value Disclosure | 202,577 | 244,510 | ||
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase, Fair Value Disclosure | 0 | 0 | ||
Federal Home Loan Bank Term Advances, Fair Value Disclosure | 10,258 | 21,629 | ||
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts, Fair Value Disclosure | 20,000 | 20,000 | ||
Accrued Interest Payable, Fair Value Disclosure | 0 | 0 | ||
Significant Unobservable Inputs (Level 3) [Member] | Fair Value [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 | ||
Available-for-sale Securities | 0 | 0 | ||
Held-to-maturity Securities, at Fair Value | 0 | 0 | ||
Federal Home Loan Bank Stock and Federal Reserve Bank Stock, Fair Value Disclosure | 0 | 0 | ||
Net Loans, Fair Value Disclosure | 1,405,454 | 1,266,020 | ||
Accrued Interest Receivable, Fair Value Disclosure | 0 | 0 | ||
Deposits, Fair Value Disclosure | 0 | 0 | ||
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase, Fair Value Disclosure | 0 | 0 | ||
Federal Home Loan Bank Term Advances, Fair Value Disclosure | 0 | 0 | ||
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts, Fair Value Disclosure | 0 | 0 | ||
Accrued Interest Payable, Fair Value Disclosure | $0 | $0 |
Leases_Rent_Expense_Details
Leases Rent Expense (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Leases [Abstract] | |||
Rent Expense | $784 | $671 | $597 |
Leases_Details
Leases (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |
2015 | $686 |
2016 | 483 |
2017 | 389 |
2018 | 318 |
2019 | 266 |
Later Years | 372 |
Total Minimum Lease Payments | $2,514 |
Regulatory_Matters_Details
Regulatory Matters (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Arrow Financial Corporation [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total Capital (to Risk Weighted Assets) - Actual Amount | $225,766 | $212,360 |
Total Capital (to Risk Weighted Assets) - Actual Ratio | 15.50% | 15.80% |
Total Capital (to Risk Weighted Assets) - Minimum Amounts For Capital Adequacy Purposes Amount | 116,524 | 107,524 |
Total Capital (to Risk Weighted Assets) - Minimum Amounts For Capital Adequacy Purposes Ratio | 8.00% | 8.00% |
Total Capital (to Risk Weighted Assets) - Minimum Amounts To Be Well-Capitalized Amount | 145,655 | 134,405 |
Total Capital (to Risk Weighted Assets) - Minimum Amounts To Be Well-Capitalized Ratio | 10.00% | 10.00% |
Tier I Capital (to Risk Weighted Assets) - Actual Amount | 210,136 | 197,906 |
Tier I Capital (to Risk Weighted Assets) - Actual Ratio | 14.50% | 14.70% |
Tier I Capital (to Risk Weighted Assets) - Minimum Acounts For Capital Adequacy Purposes Amount | 57,969 | 53,852 |
Tier I Capital (to Risk Weighted Assets) - Minimum Amounts For Capital Adequacy Purposes Ratio | 4.00% | 4.00% |
Tier I Capital (to Risk Weighted Assets) - Minimum Amounts To Be Well-Capitalized Ratio | 86,953 | 80,778 |
Tier I Capital (to Risk Weighted Assets) - Minimum Amounts To Be Well-Capitalized Ratio | 6.00% | 6.00% |
Tier I Capital (to Average Assets) - Actual Amount | 210,136 | 197,906 |
Tier I Capital (to Average Assets) - Actual Ratio | 9.40% | 9.20% |
Tier I Capital (to Average Assets) - Minimum Amounts For Capital Adequacy Purposes Amount | 89,420 | 86,046 |
Tier I Capital (to Average Assets) - Minimum Amounts For Capital Adequacy Purposes Ratio | 4.00% | 4.00% |
Tier I Capital (to Average Assets) - Minimum Amounts To Be Well-Capitalized Amount | 89,420 | 86,046 |
Tier I Capital (to Average Assets) - Minimum Amounts To Be Well-Capitalized Ratio | 4.00% | 4.00% |
Glens Falls National [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total Capital (to Risk Weighted Assets) - Actual Amount | 183,446 | 172,720 |
Total Capital (to Risk Weighted Assets) - Actual Ratio | 15.50% | 15.40% |
Total Capital (to Risk Weighted Assets) - Minimum Amounts For Capital Adequacy Purposes Amount | 94,682 | 89,725 |
Total Capital (to Risk Weighted Assets) - Minimum Amounts For Capital Adequacy Purposes Ratio | 8.00% | 8.00% |
Total Capital (to Risk Weighted Assets) - Minimum Amounts To Be Well-Capitalized Amount | 118,352 | 112,156 |
Total Capital (to Risk Weighted Assets) - Minimum Amounts To Be Well-Capitalized Ratio | 10.00% | 10.00% |
Tier I Capital (to Risk Weighted Assets) - Actual Amount | 170,497 | 160,849 |
Tier I Capital (to Risk Weighted Assets) - Actual Ratio | 14.40% | 14.40% |
Tier I Capital (to Risk Weighted Assets) - Minimum Acounts For Capital Adequacy Purposes Amount | 47,360 | 44,680 |
Tier I Capital (to Risk Weighted Assets) - Minimum Amounts For Capital Adequacy Purposes Ratio | 4.00% | 4.00% |
Tier I Capital (to Risk Weighted Assets) - Minimum Amounts To Be Well-Capitalized Ratio | 71,040 | 67,020 |
Tier I Capital (to Risk Weighted Assets) - Minimum Amounts To Be Well-Capitalized Ratio | 6.00% | 6.00% |
Tier I Capital (to Average Assets) - Actual Amount | 170,497 | 160,849 |
Tier I Capital (to Average Assets) - Actual Ratio | 9.10% | 8.80% |
Tier I Capital (to Average Assets) - Minimum Amounts For Capital Adequacy Purposes Amount | 74,944 | 73,113 |
Tier I Capital (to Average Assets) - Minimum Amounts For Capital Adequacy Purposes Ratio | 4.00% | 4.00% |
Tier I Capital (to Average Assets) - Minimum Amounts To Be Well-Capitalized Amount | 93,680 | 91,391 |
Tier I Capital (to Average Assets) - Minimum Amounts To Be Well-Capitalized Ratio | 5.00% | 5.00% |
Saratoga National [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total Capital (to Risk Weighted Assets) - Actual Amount | 35,217 | 33,396 |
Total Capital (to Risk Weighted Assets) - Actual Ratio | 13.30% | 14.80% |
Total Capital (to Risk Weighted Assets) - Minimum Amounts For Capital Adequacy Purposes Amount | 21,183 | 18,052 |
Total Capital (to Risk Weighted Assets) - Minimum Amounts For Capital Adequacy Purposes Ratio | 8.00% | 8.00% |
Total Capital (to Risk Weighted Assets) - Minimum Amounts To Be Well-Capitalized Amount | 26,479 | 22,565 |
Total Capital (to Risk Weighted Assets) - Minimum Amounts To Be Well-Capitalized Ratio | 10.00% | 10.00% |
Tier I Capital (to Risk Weighted Assets) - Actual Amount | 32,596 | 30,833 |
Tier I Capital (to Risk Weighted Assets) - Actual Ratio | 12.30% | 13.70% |
Tier I Capital (to Risk Weighted Assets) - Minimum Acounts For Capital Adequacy Purposes Amount | 10,600 | 9,002 |
Tier I Capital (to Risk Weighted Assets) - Minimum Amounts For Capital Adequacy Purposes Ratio | 4.00% | 4.00% |
Tier I Capital (to Risk Weighted Assets) - Minimum Amounts To Be Well-Capitalized Ratio | 15,900 | 13,504 |
Tier I Capital (to Risk Weighted Assets) - Minimum Amounts To Be Well-Capitalized Ratio | 6.00% | 6.00% |
Tier I Capital (to Average Assets) - Actual Amount | 32,596 | 30,833 |
Tier I Capital (to Average Assets) - Actual Ratio | 9.40% | 9.70% |
Tier I Capital (to Average Assets) - Minimum Amounts For Capital Adequacy Purposes Amount | 13,871 | 12,715 |
Tier I Capital (to Average Assets) - Minimum Amounts For Capital Adequacy Purposes Ratio | 4.00% | 4.00% |
Tier I Capital (to Average Assets) - Minimum Amounts To Be Well-Capitalized Amount | $17,338 | $15,893 |
Tier I Capital (to Average Assets) - Minimum Amounts To Be Well-Capitalized Ratio | 5.00% | 5.00% |
Regulatory_Matters_Other_Regul
Regulatory Matters Other Regulation Disclosures (Details) (USD $) | Dec. 31, 2014 |
Banking and Thrift [Abstract] | |
Maximum Subsidiary Dividend | $29,200 |
Parent_Only_Financial_Informat2
Parent Only Financial Information Parent Only Balance Sheet (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
ASSETS | ||||
Interest-Bearing Deposits at Banks | $11,214 | $12,705 | ||
Available-for-sale Securities | 366,139 | 457,606 | ||
Held-to-Maturity Securities | 302,024 | 299,261 | ||
Other Assets | 46,297 | 43,235 | ||
Total Assets | 2,217,420 | 2,163,698 | ||
LIABILITIES | ||||
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts | 20,000 | 20,000 | ||
Other Liabilities | 23,125 | 24,437 | ||
Total Liabilities | 2,016,494 | 1,971,544 | ||
Equity [Abstract] | ||||
Stockholders' Equity Attributable to Parent | 200,926 | 192,154 | 175,825 | 166,385 |
Total Liabilities and Stockholders' Equity | 2,217,420 | 2,163,698 | ||
Arrow Financial Corporation [Member] | ||||
ASSETS | ||||
Interest-Bearing Deposits at Banks | 3,013 | 3,349 | ||
Available-for-sale Securities | 1,254 | 1,166 | ||
Held-to-Maturity Securities | 1,000 | 1,000 | ||
Equity Method Investments | 214,813 | 206,680 | ||
Other Assets | 6,538 | 5,807 | ||
Total Assets | 226,618 | 218,002 | ||
LIABILITIES | ||||
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts | 20,000 | 20,000 | ||
Other Liabilities | 5,692 | 5,848 | ||
Total Liabilities | 25,692 | 25,848 | ||
Equity [Abstract] | ||||
Stockholders' Equity Attributable to Parent | 200,926 | 192,154 | ||
Total Liabilities and Stockholders' Equity | $226,618 | $218,002 |
Parent_Only_Financial_Informat3
Parent Only Financial Information Parent Only Income Statement (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Condensed Financial Statements, Captions [Line Items] | |||
Interest and Dividends on Investments | $66,861 | $64,138 | $69,379 |
Other Operating Income | 1,238 | 1,024 | 1,170 |
Net Gains on Securities Transactions | 110 | 540 | 865 |
Interest Expense | 5,767 | 7,922 | 11,957 |
Salaries and Employee Benefits | 30,941 | 31,182 | 31,703 |
Other Operating Expense | 12,980 | 12,656 | 11,640 |
Income Tax Benefit | -10,174 | -9,079 | -9,661 |
Net Income | 23,360 | 21,795 | 22,179 |
Arrow Financial Corporation [Member] | |||
Condensed Financial Statements, Captions [Line Items] | |||
Dividends from Bank Subsidiaries | 13,300 | 12,900 | 12,700 |
Interest and Dividends on Investments | 116 | 116 | 123 |
Other Operating Income | 578 | 549 | 776 |
Net Gains on Securities Transactions | 0 | 0 | 63 |
Total Income | 13,994 | 13,565 | 13,662 |
Interest Expense | 620 | 640 | 692 |
Salaries and Employee Benefits | 77 | 59 | 75 |
Other Operating Expense | 754 | 860 | 957 |
Total Expense | 1,451 | 1,559 | 1,724 |
Income Before Income Tax Benefit and Equity in Undistributed Net Income of Subsidiaries | 12,543 | 12,006 | 11,938 |
Income Tax Benefit | -473 | -634 | -575 |
Equity in Undistributed Net Income of Subsidiaries | 10,344 | 9,155 | 9,666 |
Net Income | $23,360 | $21,795 | $22,179 |
Parent_Only_Financial_Informat4
Parent Only Financial Information Parent Only Statement of Cash Flows (Details) (USD $) | 12 Months Ended | |||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
Cash Flows from Operating Activities: | ||||||
Net Income | $23,360,000 | $21,795,000 | $22,179,000 | |||
Gains on the Sale of Securities Available-for-Sale | 137,000 | 527,000 | 949,000 | |||
Stock-Based Compensation Expense | 360,000 | 372,000 | 424,000 | |||
Stock-Based Compensation Expense | 360,000 | 372,000 | 424,000 | |||
Net Cash Provided By Operating Activities | 30,641,000 | 36,673,000 | 32,460,000 | |||
Cash Flows from Investing Activities: | ||||||
Proceeds from the Sale of Securities Available-for-Sale | 49,928,000 | 16,295,000 | 58,718,000 | |||
Purchases of Securities Available-for-Sale | -113,953,000 | -136,416,000 | -197,029,000 | |||
Net Cash Used In Investing Activities | -67,693,000 | -149,015,000 | -65,645,000 | |||
Cash Flows from Financing Activities: | ||||||
Stock Options Exercised | 1,454,000 | 1,254,000 | 2,105,000 | |||
Shares Issued Under the Employee Stock Purchase Plan | 488,000 | 477,000 | 484,000 | |||
Shares Issued for Dividend Reinvestment Plans | -1,280,000 | -1,822,000 | ||||
Tax Benefit from Exercise of Stock Options | 25,000 | 23,000 | 68,000 | |||
Purchases of Treasury Stock | 2,455,000 | 1,709,000 | 4,877,000 | |||
Cash Dividends Paid | -12,407,000 | [1] | -12,109,000 | [1] | -11,815,000 | [1] |
Net Cash Provided By Financing Activities | 33,367,000 | 113,490,000 | 38,281,000 | |||
Net Increase (Decrease) in Cash and Cash Equivalents | -3,685,000 | 1,148,000 | 5,096,000 | |||
Cash and Cash Equivalents at Beginning of Year | 49,980,000 | 48,832,000 | 43,736,000 | |||
Cash and Cash Equivalents at End of Year | 46,295,000 | 49,980,000 | 48,832,000 | |||
Interest on Deposits and Borrowings | 5,932,000 | 8,067,000 | 12,520,000 | |||
Shares Issued for Acquisition of Subsidiary | 91,000 | 233,000 | 233,000 | |||
Arrow Financial Corporation [Member] | ||||||
Cash Flows from Operating Activities: | ||||||
Net Income | 23,360,000 | 21,795,000 | 22,179,000 | |||
Undistributed Net Income of Subsidiaries | -10,344,000 | -9,155,000 | -9,666,000 | |||
Gains on the Sale of Securities Available-for-Sale | 0 | 0 | -63,000 | |||
Stock-Based Compensation Expense | 197,000 | 198,000 | 175,000 | |||
Stock-Based Compensation Expense | 360,000 | 372,000 | 424,000 | |||
Changes in Other Assets and Other Liabilities | -1,014,000 | -990,000 | -1,640,000 | |||
Net Cash Provided By Operating Activities | 12,559,000 | 12,220,000 | 11,409,000 | |||
Cash Flows from Investing Activities: | ||||||
Proceeds from the Sale of Securities Available-for-Sale | 45,000 | 45,000 | 681,000 | |||
Purchases of Securities Available-for-Sale | -45,000 | -45,000 | -359,000 | |||
Net Cash Used In Investing Activities | 0 | 0 | 322,000 | |||
Cash Flows from Financing Activities: | ||||||
Stock Options Exercised | 1,942,000 | 1,254,000 | 2,105,000 | |||
Shares Issued Under the Employee Stock Purchase Plan | 0 | 477,000 | 484,000 | |||
Shares Issued for Dividend Reinvestment Plans | 0 | 1,280,000 | 1,822,000 | |||
Tax Benefit from Exercise of Stock Options | 25,000 | 23,000 | 68,000 | |||
Purchases of Treasury Stock | -2,455,000 | -1,709,000 | -4,877,000 | |||
Cash Dividends Paid | -12,407,000 | -12,109,000 | -11,815,000 | |||
Net Cash Provided By Financing Activities | -12,895,000 | -10,784,000 | -12,213,000 | |||
Net Increase (Decrease) in Cash and Cash Equivalents | -336,000 | 1,436,000 | -482,000 | |||
Cash and Cash Equivalents at Beginning of Year | 3,349,000 | 1,913,000 | 2,395,000 | |||
Cash and Cash Equivalents at End of Year | 3,013,000 | 3,349,000 | 1,913,000 | |||
Interest on Deposits and Borrowings | 620,000 | 640,000 | 692,000 | |||
Shares Issued for Acquisition of Subsidiary | $91,000 | $233,000 | $233,000 | |||
[1] | Cash dividends paid per share have been adjusted for the September 2014 2% stock dividend. |