Arrow financial corporation (AROW)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
INTEREST AND DIVIDEND INCOME
Interest and Fees on Loans

95,467

81,647

70,202

62,823

56,856

53,194

51,319

54,511

58,599

64,283

66,427

Interest on Deposits at Banks

722

711

348

152

94

80

89

108

99

157

149

Interest and Dividends on Investment Securities:
Fully Taxable

8,883

8,582

7,884

7,934

8,043

7,954

6,903

9,269

12,402

14,701

14,739

Exempt from Federal Taxes

4,687

5,563

6,223

6,006

5,745

5,633

5,827

5,491

5,691

5,831

5,542

Total Interest and Dividend Income

109,759

96,503

84,657

76,915

70,738

66,861

64,138

69,379

76,791

84,972

86,857

INTEREST EXPENSE
Interest-Bearing Checking Accounts

1,985

1,618

1,510

1,280

1,276

1,722

2,461

3,564

5,052

5,582

5,172

Savings Deposits

8,399

3,457

1,371

932

741

839

1,024

1,287

1,898

2,136

2,101

Time Deposits over $250,000

1,932

1,183

282

187

76

770

1,198

2,007

2,633

2,903

3,718

Other Time Deposits

4,224

1,420

950

924

1,022

1,354

1,962

3,730

5,143

5,900

7,331

Federal Funds Purchased and Securities Sold Under Agreements to Repurchase

100

62

44

33

20

22

18

22

74

124

129

Federal Home Loan Bank Advances

3,952

3,779

2,083

1,340

1,097

490

680

729

3,295

6,458

7,340

Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts

1,019

966

766

660

581

570

579

618

584

592

701

Interest on Financing Leases

99

0

0

-

-

-

-

-

-

-

-

Total Interest Expense

21,710

12,485

7,006

5,356

4,813

5,767

7,922

11,957

18,679

23,695

26,492

NET INTEREST INCOME

88,049

84,018

77,651

71,559

65,925

61,094

56,216

57,422

58,112

61,277

60,365

Provision for Loan Losses

2,079

2,607

2,736

2,033

1,347

1,848

200

845

845

1,302

1,783

NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES

85,970

81,411

74,915

69,526

64,578

59,246

56,016

56,577

57,267

-

-

NONINTEREST INCOME
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES

-

-

-

-

-

-

-

-

-

59,975

58,582

Income From Fiduciary Activities

-

-

-

-

7,762

7,468

6,735

6,290

6,113

5,391

5,009

Fees for Other Services to Customers

-

-

-

-

9,220

9,261

9,407

8,245

8,034

7,864

8,051

Net (Loss) Gain on Securities Transactions

-

-

-

-

129

110

540

865

2,795

1,507

357

Insurance Commissions

7,182

7,888

8,612

8,668

8,967

9,455

8,895

8,247

7,374

2,987

2,412

Net Gain (Loss) on Securities

289

213

-448

-22

-

-

-

-

-

-

-

Net Gain on Sales of Loans

622

135

546

821

692

784

1,460

2,282

866

1,024

418

Other-Than-Temporary Impairment on Investment Securities

-

-

-

-

-

-

-

-

-

-

375

Net Gain on Sale of Merchange Bank Card Processing

-

-

-

-

-

-

-

-

-

-

2,966

Other Operating Income

1,477

1,324

927

1,113

1,354

1,238

1,024

1,170

746

316

754

Total Noninterest Income

28,555

28,949

27,645

27,832

28,124

28,316

28,061

27,099

25,928

19,089

19,592

NONINTEREST EXPENSE
Salaries and Employee Benefits

38,402

38,788

37,677

34,637

33,064

30,941

31,182

31,703

30,205

27,552

27,042

Occupancy Expenses, Net

5,407

5,026

4,911

9,402

9,267

8,990

8,285

7,467

7,369

6,849

6,580

Technology and Equipment Expense

13,054

11,284

10,474

-

-

-

-

-

-

-

-

FDIC Assessments

157

881

891

1,076

1,186

1,117

1,080

1,026

1,292

1,982

2,774

Prepayment Penalty on FHLB Advances

-

-

-

-

-

-

-

-

1,638

0

0

Other Operating Expense

10,430

9,076

8,752

14,494

13,913

12,980

12,656

11,640

11,044

11,035

10,196

Total Noninterest Expense

67,450

65,055

62,705

59,609

57,430

54,028

53,203

51,836

51,548

47,418

46,592

Income (Loss) from Continuing Operations before Income Taxes, Domestic

47,075

45,305

39,855

37,749

35,272

33,534

30,874

31,840

31,647

31,646

31,582

Income Tax Expense (Benefit)

9,600

9,026

10,529

11,215

10,610

10,174

9,079

9,661

9,714

9,754

9,790

Net Income (Loss) Attributable to Parent

37,475

36,279

29,326

26,534

24,662

23,360

21,795

22,179

21,933

21,892

21,792

Average Shares Outstanding:
Basic (in shares)

14,940

14,840

14,739

14,206

13,680

13,242

12,793

12,492

12,209

11,836

11,568

Diluted (in shares)

14,983

14,922

14,838

14,297

13,730

13,272

12,825

12,502

12,221

11,872

11,620

Per Common Share:
Basic Earnings (in dollars per share)

2.51

2.44

1.99

1.87

1.80

1.76

1.70

1.78

1.80

1.85

1.88

Diluted Earnings (in dollars per share)

2.50

2.43

1.98

1.86

1.80

1.76

1.70

1.77

1.79

1.84

1.88

Fiduciary and Trust
Revenue from Contract with Customer

8,809

9,255

8,417

7,783

-

-

-

-

-

-

-

Deposit Account
Revenue from Contract with Customer

10,176

10,134

9,591

9,469

-

-

-

-

-

-

-