Arrow financial corporation (AROW)
Balance Sheet / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10
ASSETS
Cash and Due From Banks

32

47

65

34

36

56

57

38

29

42

55

39

50

43

66

46

30

34

43

31

37

35

46

35

40

37

47

32

23

37

43

31

31

29

43

33

29

25

40

33

Interest-Bearing Deposits at Banks

106

23

26

28

25

27

34

22

70

30

24

26

14

14

35

16

30

16

25

13

73

11

17

16

35

12

24

11

113

11

92

26

106

14

94

24

47

5

83

6

Investment Securities:
Available-for-Sale at Fair Value

378

357

314

285

298

317

340

325

305

300

315

327

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Available-for-Sale

-

-

-

-

-

-

-

-

-

-

-

-

347

346

339

362

388

402

397

391

393

366

374

366

429

457

486

501

478

478

425

431

466

556

472

511

544

517

468

447

Held-to-Maturity (Approximate Fair Value of $242,804 at March 31, 2020; $249,618 at December 31, 2019; and $280,414 at March 31, 2019)

238

245

255

262

279

283

289

297

330

335

341

348

335

345

338

343

315

320

317

324

305

302

296

297

317

299

273

248

251

239

244

252

200

150

146

138

147

159

158

158

Equity Securities

1

2

1

1

1

1

1

1

1

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Equity Securities

1

2

1

1

1

1

1

1

1

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

FHLB and Federal Reserve Bank Stock

5

10

6

8

7

-

10

11

4

-

6

11

6

-

5

9

5

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7

8

9

9

Federal Home Loan Bank Stock and Federal Reserve Bank Stock

-

-

-

-

-

15

-

-

-

9

-

-

-

10

-

-

-

8

5

6

4

4

3

4

3

6

3

6

4

5

4

4

4

6

4

7

-

-

-

-

Loans

2,414

2,386

2,335

2,280

2,235

2,196

2,126

2,057

1,993

1,950

1,908

1,878

1,810

1,753

1,707

1,672

1,622

1,573

1,536

1,479

1,434

1,413

1,381

1,344

1,310

1,266

1,243

1,204

1,164

1,172

1,152

1,146

1,137

1,131

1,120

1,120

1,135

1,145

1,154

1,144

Allowance for Loan Losses

23

21

20

20

20

20

20

19

19

18

17

17

17

17

16

16

16

16

15

15

15

15

15

15

14

14

14

14

14

15

15

15

15

15

14

14

14

14

-14

-14

Net Loans

2,390

2,364

2,314

2,259

2,214

2,176

2,106

2,038

1,973

1,932

1,891

1,861

1,793

1,736

1,690

1,655

1,606

1,557

1,521

1,464

1,419

1,397

1,366

1,329

1,295

1,252

1,228

1,190

1,150

1,157

1,137

1,131

1,122

1,116

1,105

1,105

1,120

1,130

1,140

1,130

Premises and Equipment, Net

40

40

40

38

34

30

28

28

27

27

26

26

26

26

26

26

27

27

28

28

28

28

28

28

28

29

29

29

29

28

26

24

23

22

20

19

19

18

19

19

Other Real Estate and Repossessed Assets, Net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

0

0

0

0

0

0

Goodwill

21

21

21

21

21

21

21

21

21

21

21

21

21

21

21

21

21

21

22

22

22

22

22

22

22

22

22

22

22

22

22

22

22

22

21

20

20

15

15

15

Finite-Lived Intangible Assets, Net

-

-

-

-

-

1

-

-

-

2

-

-

-

2

-

-

-

3

-

-

-

3

-

-

-

4

-

-

-

-

-

-

-

4

-

-

-

-

-

-

Other Intangible Assets, Net

1

1

1

1

1

-

1

2

2

-

2

2

2

-

2

2

2

-

3

3

3

-

3

3

3

-

4

4

4

4

4

4

4

-

4

4

4

1

1

1

Accrued Interest Receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6

5

6

6

6

6

7

6

6

6

Other Assets

73

70

64

62

62

55

59

58

58

57

58

57

57

56

53

53

51

53

55

47

47

46

50

48

44

43

35

36

38

37

31

31

31

32

31

31

29

17

16

17

Total Assets

3,291

3,184

3,112

3,005

2,984

2,988

2,953

2,845

2,826

2,760

2,744

2,721

2,656

2,605

2,580

2,540

2,478

2,446

2,419

2,333

2,335

2,217

2,208

2,153

2,221

2,163

2,156

2,083

2,115

2,022

2,040

1,966

2,020

1,962

1,952

1,901

1,978

1,908

1,960

1,846

LIABILITIES
Noninterest-Bearing Deposits

489

484

516

467

453

472

490

467

452

441

448

433

402

387

381

368

352

358

347

325

310

300

296

286

277

278

280

261

254

247

259

248

230

232

232

219

214

214

217

201

Interest-Bearing Checking Accounts

793

689

801

741

823

790

899

861

944

907

967

905

959

877

993

900

962

887

971

904

967

871

887

820

908

817

839

754

845

758

769

691

758

642

633

545

621

569

578

485

Savings Deposits

1,146

1,046

929

908

866

818

758

735

762

694

696

679

696

651

629

600

611

594

568

547

541

524

524

523

524

498

516

494

476

442

443

437

432

416

419

414

405

382

367

366

Time Deposits over $250,000

135

123

96

97

83

-

76

70

85

-

28

33

30

-

45

37

21

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Time Deposits over $250,000

-

-

-

-

-

73

-

-

-

38

-

-

-

32

-

-

-

59

60

58

59

61

69

70

74

78

83

87

89

93

98

108

115

123

128

123

122

120

129

134

Other Time Deposits

245

271

269

289

263

190

182

169

167

163

166

167

167

166

163

165

167

130

133

136

138

144

156

159

164

168

176

181

185

189

201

219

224

228

235

239

243

248

252

250

Total Deposits

2,811

2,616

2,614

2,503

2,490

2,345

2,407

2,304

2,411

2,245

2,307

2,220

2,256

2,116

2,213

2,072

2,115

2,030

2,082

1,972

2,018

1,902

1,935

1,860

1,948

1,842

1,895

1,779

1,851

1,731

1,771

1,704

1,760

1,644

1,649

1,541

1,608

1,534

1,546

1,439

Federal Funds Purchased and Securities Sold Under Agreements to Repurchase

57

51

72

51

58

54

62

60

74

64

61

40

32

35

38

41

45

23

24

24

15

-

19

16

13

-

15

14

12

-

18

16

16

-

47

60

57

51

67

60

Federal Home Loan Bank Overnight Advances

0

130

48

83

74

234

131

136

0

105

33

122

32

123

0

102

0

82

0

29

0

-

0

24

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Short-term Borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

60

-

-

-

64

-

-

-

41

-

-

-

68

-

-

-

-

-

-

Other Short-Term Borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2

2

1

1

1

1

Federal Home Loan Bank Overnight Advances

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

40

0

-

0

0

0

-

0

0

0

0

-

-

Federal Home Loan Bank Term Advances

50

30

30

30

35

45

45

45

45

55

55

55

55

55

55

55

55

55

55

55

50

10

10

10

20

20

20

30

30

30

30

30

30

40

40

90

-

-

-

150

Federal Home Loan Bank Term Advances

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-110

-130

150

-

Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts

20

20

20

20

20

20

20

20

20

20

20

20

20

20

20

20

20

20

20

20

20

20

20

20

20

20

20

20

20

20

20

20

20

20

20

20

20

20

20

20

Finance Leases

5

5

5

5

2

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued Interest Payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1

1

1

1

1

-

-

Accrued Interest Payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2

2

Other Liabilities

37

30

29

27

27

19

22

19

22

20

23

23

24

22

24

23

22

21

26

25

25

23

23

23

25

24

22

20

24

24

24

23

23

22

24

22

19

16

18

19

Total Liabilities

2,981

2,882

2,820

2,721

2,708

2,718

2,688

2,585

2,573

2,510

2,499

2,480

2,420

2,372

2,351

2,314

2,258

2,232

2,208

2,126

2,130

2,016

2,008

1,955

2,027

1,971

1,974

1,905

1,938

1,846

1,864

1,795

1,851

1,796

1,784

1,738

1,819

1,756

1,806

1,693

STOCKHOLDERS’ EQUITY
Preferred Stock, $1 Par Value and 1,000,000 Shares Authorized at March 31, 2020 and December 31, 2019; $5 Par Value and 1,000,000 Shares Authorized at March 31, 2019

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

-

Common Stock, $1 Par Value; 30,000,000 Shares Authorized at March 31, 2020 and December 31, 2019 and 20,000,000 Shares Authorized at March 31, 2019 (19,606,449 Shares Issued at March 31, 2020 and December 31, 2019 and 19,035,565 at March 31, 2019)

19

19

19

19

19

19

19

18

18

18

18

17

17

17

17

17

17

17

17

17

17

17

17

16

16

16

16

16

16

16

16

16

16

16

16

15

15

15

15

15

Additional Paid-in Capital

336

335

334

316

315

314

313

292

290

290

289

272

271

270

269

252

251

250

249

240

239

239

239

230

229

229

228

219

219

218

217

209

208

207

206

194

193

191

190

179

Retained Earnings

37

33

27

39

34

29

24

40

34

28

22

35

31

28

25

38

35

32

28

35

32

29

26

32

29

27

24

30

28

26

23

28

26

23

21

30

27

24

22

29

Unallocated ESOP Shares (None at March 31, 2020 and December 31, 2019 and 5,501 Shares at March 31, 2019)

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

1

1

1

1

1

1

1

1

1

1

1

2

2

2

2

2

2

2

2

2

2

-2

-1

Accumulated Other Comprehensive Loss

-2

-6

-8

-9

-11

-13

-12

-11

-11

-8

-6

-6

-6

-6

-5

-4

-5

-7

-6

-7

-6

-7

-4

-3

-4

-4

-10

-11

-8

-8

-5

-6

-6

-6

-2

-2

-5

-6

-2

-1

Treasury Stock, at Cost (4,624,348 Shares at March 31, 2020; 4,608,258 Shares at December 31, 2019 and 4,556,083 Shares at March 31, 2019)

81

80

80

80

80

79

79

79

79

79

79

78

78

77

77

77

77

77

77

77

76

76

76

76

76

75

75

75

75

74

73

73

73

72

70

70

69

69

-69

-68

Total Stockholders’ Equity

309

301

292

284

276

269

264

259

252

249

244

240

236

232

229

225

220

213

211

206

204

200

200

197

194

192

182

177

177

175

176

171

168

166

168

163

159

152

153

152

Total Liabilities and Stockholders’ Equity

3,291

3,184

3,112

3,005

2,984

2,988

2,953

2,845

2,826

2,760

2,744

2,721

2,656

2,605

2,580

2,540

2,478

2,446

2,419

2,333

2,335

2,217

2,208

2,153

2,221

2,163

2,156

2,083

2,115

2,022

2,040

1,966

2,020

1,962

1,952

1,901

1,978

1,908

1,960

1,846