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GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS (Tables) | 12 Months Ended
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Dec. 31, 2017
GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS [Abstract] |
Gross Carrying Amount and Accumulated Amortization for Each Type of Identifiable Intangible Asset | The gross carrying amount and accumulated amortization for each type of identifiable intangible asset are as follows:
|  | December 31, 2017 |  |  | December 31, 2016 |
(000's omitted) |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Amortizing intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Core deposit intangibles |  | $ | 62,902 |  |  | $ | (37,877 | ) |  | $ | 25,025 |  |  | $ | 39,688 |  |  | $ | (32,581 | ) |  | $ | 7,107 |
Other intangibles |  |  | 86,535 |  |  |  | (20,902 | ) |  |  | 65,633 |  |  |  | 17,853 |  |  |  | (9,258 | ) |  |  | 8,595 |
Total amortizing intangibles |  | $ | 149,437 |  |  | $ | (58,779 | ) |  | $ | 90,658 |  |  | $ | 57,541 |  |  | $ | (41,839 | ) |  | $ | 15,702 |
Estimated Aggregate Amortization Expense | The estimated aggregate amortization expense for each of the five succeeding fiscal years ended December 31 is as follows:
2018 |  | $ | 17,872 |
2019 |  |  | 15,033 |
2020 |  |  | 12,497 |
2021 |  |  | 10,665 |
2022 |  |  | 9,165 |
Thereafter |  |  | 25,426 |
Total |  | $ | 90,658 |
Components of Goodwill | Shown below are the components of the Company’s goodwill at December 31, 2017 and 2016:
(000’s omitted) |  | Year Ended December 31, 2015 |  |  | Activity |  |  | Year Ended December 31, 2016 |  |  | Activity |  |  | Year Ended December 31, 2017 |
Goodwill |  | $ | 468,076 |  |  | $ | 1,890 |  |  | $ | 469,966 |  |  | $ | 269,288 |  |  | $ | 739,254 |
Accumulated impairment |  |  | (4,824 | ) |  |  | 0 |  |  |  | (4,824 | ) |  |  | 0 |  |  |  | (4,824 | )
Goodwill, net |  | $ | 463,252 |  |  | $ | 1,890 |  |  | $ | 465,142 |  |  | $ | 269,288 |  |  | $ | 734,430 |
Changes in Carrying Value of MSRs and Associated Valuation Allowance | The following table summarizes the changes in carrying value of MSRs and the associated valuation allowance:
(000’s omitted) |  | 2017 |  |  | 2016 |
Carrying value before valuation allowance at beginning of period |  | $ | 1,435 |  |  | $ | 1,472 |
Additions |  |  | 358 |  |  |  | 481 |
Merchants acquisition |  |  | 64 |  |  |  | 0 |
Amortization |  |  | (499 | ) |  |  | (518 | )
Carrying value before valuation allowance at end of period |  |  | 1,358 |  |  |  | 1,435 |
Valuation allowance balance at beginning of period |  |  | 0 |  |  |  | 0 |
Impairment charges |  |  | 0 |  |  |  | (226 | )
Impairment recoveries |  |  | 0 |  |  |  | 226 |
Valuation allowance balance at end of period |  |  | 0 |  |  |  | 0 |
Net carrying value at end of period |  | $ | 1,358 |  |  | $ | 1,435 |
Fair value of MSRs at end of period |  | $ | 2,473 |  |  | $ | 1,928 |
Principal balance of loans sold during the year |  | $ | 32,937 |  |  | $ | 45,852 |
Principal balance of loans serviced for others |  | $ | 358,518 |  |  | $ | 365,374 |
Custodial escrow balances maintained in connection with loans serviced for others |  | $ | 5,363 |  |  | $ | 5,603 |
Summary of Key Economic Assumptions Used to Estimate Value of MSRs | The following table summarizes the key economic assumptions used to estimate the value of the MSRs at December 31:
|  | 2017 |  |  | 2016 |
Weighted-average contractual life (in years) |  |  | 21.3 |  |  |  | 20.8 |
Weighted-average constant prepayment rate (CPR) |  |  | 11.1 | % |  |  | 15.1 | %
Weighted-average discount rate |  |  | 3.3 | % |  |  | 3.5 | %

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- Definition Tabular disclosure of all information related to the key inputs and assumptions used in measuring the fair value of assets obtained or liabilities incurred, as the result of a sale of financial assets, relating to the transferor's continuing involvement, if any, at the time of securitization, asset-backed financing arrangement, or similar transfer (including at a minimum, but not limited to, and if applicable, quantitative information about discount rates, expected prepayments including the expected weighted-average life of prepayable financial assets, and anticipated credit losses, including expected static pool losses). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=82924980&loc=d3e107207-111719 + Details
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