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PARENT COMPANY STATEMENTS | 12 Months Ended
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Dec. 31, 2016
PARENT COMPANY STATEMENTS [Abstract] |
PARENT COMPANY STATEMENTS | NOTE Q: PARENT COMPANY STATEMENTS The condensed balance sheets of the parent company at December 31 are as follows:
(000's omitted) |  | 2016 |  |  | 2015 |
Assets: |  |  |  |  |  |
Cash and cash equivalents |  | $ | 151,127 |  |  | $ | 97,317 |
Investment securities |  |  | 3,628 |  |  |  | 3,576 |
Investment in and advances to: |  |  |  |  |  |  |  |
Bank subsidiary |  |  | 1,116,554 |  |  |  | 1,117,419 |
Non-bank subsidiaries |  |  | 35,566 |  |  |  | 30,643 |
Other assets |  |  | 10,345 |  |  |  | 9,996 |
Total assets |  | $ | 1,317,220 |  |  | $ | 1,258,951 |
Liabilities and shareholders' equity: |  |  |  |  |  |  |  |
Accrued interest and other liabilities |  | $ | 16,950 |  |  | $ | 16,158 |
Borrowings |  |  | 102,170 |  |  |  | 102,146 |
Shareholders' equity |  |  | 1,198,100 |  |  |  | 1,140,647 |
Total liabilities and shareholders' equity |  | $ | 1,317,220 |  |  | $ | 1,258,951 |
The condensed statements of income of the parent company for the years ended December 31 is as follows:
(000's omitted) |  | 2016 |  |  | 2015 |  |  | 2014 |
Revenues: |  |  |  |  |  |  |  |  |
Dividends from subsidiaries: |  |  |  |  |  |  |  |  |
Bank subsidiary |  | $ | 89,000 |  |  | $ | 70,000 |  |  | $ | 57,200 |
Non-bank subsidiaries |  |  | 1,750 |  |  |  | 6,000 |  |  |  | 3,900 |
Interest and dividends on investments |  |  | 102 |  |  |  | 94 |  |  |  | 88 |
Total revenues |  |  | 90,852 |  |  |  | 76,094 |  |  |  | 61,188 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Interest on borrowings |  |  | 2,949 |  |  |  | 2,537 |  |  |  | 2,477 |
Acquisition expenses |  |  | 429 |  |  |  | 0 |  |  |  | 0 |
Other expenses |  |  | 11 |  |  |  | 19 |  |  |  | 37 |
Total expenses |  |  | 3,389 |  |  |  | 2,556 |  |  |  | 2,514 |
Income before tax benefit and equity in undistributed net income of subsidiaries |  |  | 87,463 |  |  |  | 73,538 |  |  |  | 58,674 |
Income tax benefit/(expense) |  |  | 866 |  |  |  | (572 | ) |  |  | 581 |
Income before equity in undistributed net income of subsidiaries |  |  | 88,329 |  |  |  | 72,966 |  |  |  | 59,255 |
Equity in undistributed net income of subsidiaries |  |  | 15,483 |  |  |  | 18,264 |  |  |  | 32,098 |
Net income |  | $ | 103,812 |  |  | $ | 91,230 |  |  | $ | 91,353 |
Other comprehensive (loss)/income, net of tax: |  |  |  |  |  |  |  |  |  |  |  |
Other comprehensive income/(loss) related to pension and other post retirement obligations |  |  | 3,322 |  |  |  | (4,567 | ) |  |  | (9,571 | )
Other comprehensive (loss)/income related to unrealized (losses)/gains on available-for-sale securities |  |  | (14,714 | ) |  |  | (6,918 | ) |  |  | 66,837 |
Other comprehensive (loss)/income |  |  | (11,392 | ) |  |  | (11,485 | ) |  |  | 57,266 |
Comprehensive income |  | $ | 92,420 |  |  | $ | 79,745 |  |  | $ | 148,619
The statements of cash flows of the parent company for the years ended December 31 is as follows:
(000's omitted) |  | 2016 |  |  | 2015 |  |  | 2014 |
Operating activities: |  |  |  |  |  |  |  |  |
Net income |  | $ | 103,812 |  |  | $ | 91,230 |  |  | $ | 91,353 |
Adjustments to reconcile net income to net cash provided by operating activities |  |  |  |  |  |  |  |  |  |  |  |
Equity in undistributed net income of subsidiaries |  |  | (15,483 | ) |  |  | (18,264 | ) |  |  | (32,098 | )
Net change in other assets and other liabilities |  |  | (215 | ) |  |  | (27 | ) |  |  | (479 | )
Net cash provided by operating activities |  |  | 88,114 |  |  |  | 72,939 |  |  |  | 58,776 |
Investing activities: |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from sale of investment securities |  |  | 0 |  |  |  | 0 |  |  |  | 3 |
Cash received for acquisitions, net of cash acquired of $0, $81,772, and $0, respectively |  |  | 0 |  |  |  | 25,505 |  |  |  | 0 |
Capital contributions to subsidiaries |  |  | 0 |  |  |  | (80,231 | ) |  |  | 0 |
Net cash (used in) provided by investing activities |  |  | 0 |  |  |  | (54,726 | ) |  |  | 3 |
Financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Issuance of common stock |  |  | 15,326 |  |  |  | 13,975 |  |  |  | 13,410 |
Purchase of treasury stock |  |  | (3,470 | ) |  |  | (9,126 | ) |  |  | (4,368 | )
Sale of treasury stock |  |  | 8,888 |  |  |  | 16,571 |  |  |  | 1,531 |
Cash dividends paid |  |  | (55,048 | ) |  |  | (49,273 | ) |  |  | (46,178 | )
Net cash used in financing activities |  |  | (34,304 | ) |  |  | (27,853 | ) |  |  | (35,605 | )
Change in cash and cash equivalents |  |  | 53,810 |  |  |  | (9,640 | ) |  |  | 23,174 |
Cash and cash equivalents at beginning of year |  |  | 97,317 |  |  |  | 106,957 |  |  |  | 83,783 |
Cash and cash equivalents at end of year |  | $ | 151,127 |  |  | $ | 97,317 |  |  | $ | 106,957 |
Supplemental disclosures of cash flow information: |  |  |  |  |  |  |  |  |  |  |  |
Cash paid for interest |  | $ | 2,909 |  |  | $ | 2,523 |  |  | $ | 2,473 |
Supplemental disclosures of noncash financing activities |  |  |  |  |  |  |  |  |  |  |  |
Dividends declared and unpaid |  | $ | 14,268 |  |  | $ | 13,605 |  |  | $ | 12,254 |
Capital contributions to subsidiaries |  |  | 0 |  |  |  | 76,461 |  |  |  | 0 |
Common stock issued for acquisition |  |  | 0 |  |  |  | 102,202 |  |  |  | 0 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.7-05(c)(Schedule II)) -URI http://asc.fasb.org/extlink&oid=6879921&loc=d3e569147-122900 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=68079674&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(c)(Schedule I)) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 + Details
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