Arrow Financial Corporation (AROW) financial statements (2022 and earlier)

Company profile

Business Address 250 GLEN ST
GLENS FALLS, NY 12801
State of Incorp. NY
Fiscal Year End December 31
SIC 6021 - National Commercial Banks (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments4593837286735751
Cash and cash equivalents4583817084735751
Short-term investments2222   
Total current assets:4593837286735751
Noncurrent Assets
Finance lease, right-of-use asset555
Operating lease, right-of-use asset756
Property, plant and equipment41383530282727
Intangible assets, net (including goodwill)26242424242525
Goodwill22222222222222
Intangible assets, net (excluding goodwill)4222233
Total noncurrent assets:79727054525252
Other undisclosed assets3,4903,2343,0422,8482,6362,4962,343
TOTAL ASSETS:4,0283,6893,1842,9882,7602,6052,446
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt 17181289170159105
Total current liabilities: 17181289170159105
Noncurrent Liabilities
Other undisclosed liabilities3,6573,3372,7012,4302,3412,2142,127
Total liabilities:3,6573,3542,8832,7192,5112,3722,232
Stockholders' equity
Stockholders' equity attributable to parent371334302270250233214
Common stock21202019181817
Treasury stock, value(82)(81)(80)(79)(79)(77)(77)
Additional paid in capital378354335315290271251
Accumulated other comprehensive income (loss)0(1)(6)(14)(9)(7)(8)
Retained earnings54423329292932
Unearned esop shares   (0)(0)(0)(1)
Total stockholders' equity:371334302270250233214
TOTAL LIABILITIES AND EQUITY:4,0283,6893,1842,9882,7602,6052,446

Income statement (P&L) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues111499282828
Insurance commissions and fees6778
Gain on disposition of assets for financial service operations2410
Other operating income2311111
Financial services revenue272727
Cost of revenue(0)(9)(2)(3)(3)(2)(1)
Provision for loan, lease, and other losses(0)(9)(2)(3)
Financial services costs(3)(2)(1)
Gross profit:10577252627
Operating expenses(10)(11)(11)(22)(58)(54)(52)
Other operating expense, net
(Other Expenses)
(4)(3)(5)(4) (4)(4)
Operating loss:(4)(9)(8)(18)(33)(32)(29)
Nonoperating income
(Investment Income, Nonoperating)
11611211097857771
Interest and debt expense(5)(13)(22)(12)(7)(5)(5)
Income from continuing operations before income taxes:106908066453937
Income tax expense(15)(11)(10)(9)(11)(11)(11)
Net income:92797057342826
Other undisclosed net loss attributable to parent(42)(38)(33)(20)(5)(1)(2)
Net income attributable to parent:50413736292725
Other undisclosed net loss available to common stockholders, basic  (38) (30)(27)(25)
Net income (loss) available to common stockholders, diluted:5041(1)36(1)(0)(0)

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:92797057342826
Other comprehensive income (loss)  7(5)(0)1(1)
Comprehensive income:92797852342925
Other undisclosed comprehensive loss, net of tax, attributable to parent(41)(32)(33)(20)(5)(1)(2)
Comprehensive income, net of tax, attributable to parent:51464531292824

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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