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ACQUISITIONS (Tables) | 6 Months Ended
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Jun. 30, 2018
ACQUISITIONS [Abstract] |
Estimated Fair Value of Assets Acquired and Liabilities Assumed | The following table summarizes the estimated fair value of the assets acquired and liabilities assumed after considering the measurement period adjustments described above:
|  | 2018 |  |  | 2017 |
(000s omitted) |  | Other (1) |  |  | NRS |  |  | Merchants |  |  | Other (2) |  |  | Total |
Consideration paid : |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash |  | $ | 1,753 |  |  | $ | 70,073 |  |  | $ | 82,898 |  |  | $ | 6,775 |  |  | $ | 159,746 |
Community Bank System, Inc. common stock |  |  | 0 |  |  |  | 78,483 |  |  |  | 262,254 |  |  |  | 2,395 |  |  |  | 343,132 |
Total net consideration paid |  |  | 1,753 |  |  |  | 148,556 |  |  |  | 345,152 |  |  |  | 9,170 |  |  |  | 502,878 |
Recognized amounts of identifiable assets acquired and liabilities assumed: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 16 |  |  |  | 11,063 |  |  |  | 40,730 |  |  |  | 339 |  |  |  | 52,132 |
Investment securities |  |  | 0 |  |  |  | 20,294 |  |  |  | 370,648 |  |  |  | 0 |  |  |  | 390,942 |
Loans |  |  | 0 |  |  |  | 0 |  |  |  | 1,488,157 |  |  |  | 0 |  |  |  | 1,488,157 |
Premises and equipment |  |  | 10 |  |  |  | 411 |  |  |  | 16,608 |  |  |  | 27 |  |  |  | 17,046 |
Accrued interest receivable |  |  | 0 |  |  |  | 72 |  |  |  | 4,773 |  |  |  | 0 |  |  |  | 4,845 |
Other assets |  |  | 105 |  |  |  | 8,088 |  |  |  | 51,585 |  |  |  | 583 |  |  |  | 60,256 |
Core deposit intangibles |  |  | 0 |  |  |  | 0 |  |  |  | 23,214 |  |  |  | 0 |  |  |  | 23,214 |
Other intangibles |  |  | 1,343 |  |  |  | 60,200 |  |  |  | 2,857 |  |  |  | 5,626 |  |  |  | 68,683 |
Deposits |  |  | 0 |  |  |  | 0 |  |  |  | (1,448,406 | ) |  |  | 0 |  |  |  | (1,448,406 | )
Other liabilities |  |  | (31 | ) |  |  | (26,828 | ) |  |  | (11,750 | ) |  |  | (1,131 | ) |  |  | (39,709 | )
Short-term advances |  |  | 0 |  |  |  | 0 |  |  |  | (80,000 | ) |  |  | 0 |  |  |  | (80,000 | )
Securities sold under agreement to repurchase, short-term |  |  | 0 |  |  |  | 0 |  |  |  | (278,076 | ) |  |  | 0 |  |  |  | (278,076 | )
Long-term debt |  |  | 0 |  |  |  | 0 |  |  |  | (3,615 | ) |  |  | 0 |  |  |  | (3,615 | )
Subordinated debt held by unconsolidated subsidiary trusts |  |  | 0 |  |  |  | 0 |  |  |  | (20,619 | ) |  |  | 0 |  |  |  | (20,619 | )
Total identifiable assets, net |  |  | 1,443 |  |  |  | 73,300 |  |  |  | 156,106 |  |  |  | 5,444 |  |  |  | 234,850 |
Goodwill |  | $ | 310 |  |  | $ | 75,256 |  |  | $ | 189,046 |  |  | $ | 3,726 |  |  | $ | 268,028 |
(1) | Includes amounts related to the Penna, Styles Bridges and HR Consultants acquisitions.
(2) | Includes amounts related to the BAS, Dryfoos, NECM and GBR acquisitions.
Summary of Loans Acquired | The following is a summary of the loans acquired from Merchants at the date of acquisition:
(000s omitted) |  | Acquired Impaired Loans |  |  | Acquired Non-impaired Loans |  |  | Total Acquired Loans |
Contractually required principal and interest at acquisition |  | $ | 15,454 |  |  | $ | 1,872,574 |  |  | $ | 1,888,028 |
Contractual cash flows not expected to be collected |  |  | (5,385 | ) |  |  | (14,753 | ) |  |  | (20,138 | )
Expected cash flows at acquisition |  |  | 10,069 |  |  |  | 1,857,821 |  |  |  | 1,867,890 |
Interest component of expected cash flows |  |  | (793 | ) |  |  | (378,940 | ) |  |  | (379,733 | )
Fair value of acquired loans |  | $ | 9,276 |  |  | $ | 1,478,881 |  |  | $ | 1,488,157 |

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472 + Details
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