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GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS (Tables)

12 Months Ended

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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