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INVESTMENT SECURITIES (Tables) | 3 Months Ended
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Mar. 31, 2019
INVESTMENT SECURITIES [Abstract] |
Amortized Cost and Estimated Fair Value of Investment Securities | The amortized cost and estimated fair value of investment securities as of March 31, 2019 and December 31, 2018 are as follows:
|  | March 31, 2019 |  |  | December 31, 2018 |
(000's omitted) |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |  |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Available-for-Sale Portfolio: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and agency securities |  | $ | 2,033,399 |  |  | $ | 6,841 |  |  | $ | 5,268 |  |  | $ | 2,034,972 |  |  | $ | 2,036,474 |  |  | $ | 2,190 |  |  | $ | 14,911 |  |  | $ | 2,023,753 |
Obligations of state and political subdivisions |  |  | 423,916 |  |  |  | 9,319 |  |  |  | 76 |  |  |  | 433,159 |  |  |  | 453,640 |  |  |  | 6,563 |  |  |  | 1,049 |  |  |  | 459,154 |
Government agency mortgage-backed securities |  |  | 389,154 |  |  |  | 2,587 |  |  |  | 5,198 |  |  |  | 386,543 |  |  |  | 390,234 |  |  |  | 1,526 |  |  |  | 9,283 |  |  |  | 382,477 |
Corporate debt securities |  |  | 2,572 |  |  |  | 0 |  |  |  | 19 |  |  |  | 2,553 |  |  |  | 2,588 |  |  |  | 0 |  |  |  | 42 |  |  |  | 2,546 |
Government agency collateralized mortgage obligations |  |  | 66,226 |  |  |  | 88 |  |  |  | 598 |  |  |  | 65,716 |  |  |  | 69,342 |  |  |  | 60 |  |  |  | 1,283 |  |  |  | 68,119 |
Total available-for-sale portfolio |  | $ | 2,915,267 |  |  | $ | 18,835 |  |  | $ | 11,159 |  |  | $ | 2,922,943 |  |  | $ | 2,952,278 |  |  | $ | 10,339 |  |  | $ | 26,568 |  |  | $ | 2,936,049 |
Equity and other Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities, at fair value |  | $ | 251 |  |  | $ | 215 |  |  | $ | 2 |  |  | $ | 464 |  |  | $ | 251 |  |  | $ | 200 |  |  | $ | 19 |  |  | $ | 432 |
Federal Home Loan Bank common stock |  |  | 6,308 |  |  |  | 0 |  |  |  | 0 |  |  |  | 6,308 |  |  |  | 8,768 |  |  |  | 0 |  |  |  | 0 |  |  |  | 8,768 |
Federal Reserve Bank common stock |  |  | 30,690 |  |  |  | 0 |  |  |  | 0 |  |  |  | 30,690 |  |  |  | 30,690 |  |  |  | 0 |  |  |  | 0 |  |  |  | 30,690 |
Other equity securities, at adjusted cost |  |  | 4,992 |  |  |  | 750 |  |  |  | 0 |  |  |  | 5,742 |  |  |  | 4,969 |  |  |  | 750 |  |  |  | 0 |  |  |  | 5,719 |
Total equity and other securities |  | $ | 42,241 |  |  | $ | 965 |  |  | $ | 2 |  |  | $ | 43,204 |  |  | $ | 44,678 |  |  | $ | 950 |  |  | $ | 19 |  |  | $ | 45,609 |
Summary of Investment Securities That Have Been in a Continuous Unrealized Loss Position for Less Than or Greater Than Twelve Months | A summary of investment securities that have been in a continuous unrealized loss position is as follows: As of March 31, 2019
|  | Less than 12 Months |  |  | 12 Months or Longer |  |  | Total |
(000's omitted) |  |  | # |  |  | Fair Value |  |  | Gross Unrealized Losses |  |  |  | # |  |  | Fair Value |  |  | Gross Unrealized Losses |  |  |  | # |  |  | Fair Value |  |  | Gross Unrealized Losses |
Available-for-Sale Portfolio: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and agency securities |  |  | 0 |  |  | $ | 0 |  |  | $ | 0 |  |  |  | 48 |  |  | $ | 862,482 |  |  | $ | 5,268 |  |  |  | 48 |  |  | $ | 862,482 |  |  | $ | 5,268 |
Obligations of state and political subdivisions |  |  | 3 |  |  |  | 869 |  |  |  | 2 |  |  |  | 20 |  |  |  | 11,854 |  |  |  | 74 |  |  |  | 23 |  |  |  | 12,723 |  |  |  | 76 |
Government agency mortgage-backed securities |  |  | 9 |  |  |  | 5,241 |  |  |  | 6 |  |  |  | 181 |  |  |  | 242,566 |  |  |  | 5,192 |  |  |  | 190 |  |  |  | 247,807 |  |  |  | 5,198 |
Corporate debt securities |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 1 |  |  |  | 2,553 |  |  |  | 19 |  |  |  | 1 |  |  |  | 2,553 |  |  |  | 19 |
Government agency collateralized mortgage obligations |  |  | 1 |  |  |  | 1 |  |  |  | 0 |  |  |  | 39 |  |  |  | 56,690 |  |  |  | 598 |  |  |  | 40 |  |  |  | 56,691 |  |  |  | 598 |
Total available-for-sale investment portfolio |  |  | 13 |  |  | $ | 6,111 |  |  | $ | 8 |  |  |  | 289 |  |  | $ | 1,176,145 |  |  | $ | 11,151 |  |  |  | 302 |  |  | $ | 1,182,256 |  |  | $ | 11,159 |
Equity and other Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities, at fair value |  |  | 1 |  |  | $ | 98 |  |  | $ | 2 |  |  |  | 0 |  |  | $ | 0 |  |  | $ | 0 |  |  |  | 1 |  |  | $ | 98 |  |  | $ | 2 |
Total equity and other securities |  |  | 1 |  |  | $ | 98 |  |  | $ | 2 |  |  |  | 0 |  |  | $ | 0 |  |  | $ | 0 |  |  |  | 1 |  |  | $ | 98 |  |  | $ | 2 |
As of December 31, 2018
|  | Less than 12 Months |  |  | 12 Months or Longer |  |  | Total |
(000's omitted) |  |  | # |  |  | Fair Value |  |  | Gross Unrealized Losses |  |  |  | # |  |  | Fair Value |  |  | Gross Unrealized Losses |  |  |  | # |  |  | Fair Value |  |  | Gross Unrealized Losses |
Available-for-Sale Portfolio: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and agency securities |  |  | 7 |  |  | $ | 473,082 |  |  | $ | 682 |  |  |  | 64 |  |  | $ | 1,213,276 |  |  | $ | 14,229 |  |  |  | 71 |  |  | $ | 1,686,358 |  |  | $ | 14,911 |
Obligations of state and political subdivisions |  |  | 118 |  |  |  | 55,671 |  |  |  | 216 |  |  |  | 97 |  |  |  | 51,753 |  |  |  | 833 |  |  |  | 215 |  |  |  | 107,424 |  |  |  | 1,049 |
Government agency mortgage-backed securities |  |  | 43 |  |  |  | 47,708 |  |  |  | 258 |  |  |  | 181 |  |  |  | 253,931 |  |  |  | 9,025 |  |  |  | 224 |  |  |  | 301,639 |  |  |  | 9,283 |
Corporate debt securities |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 1 |  |  |  | 2,546 |  |  |  | 42 |  |  |  | 1 |  |  |  | 2,546 |  |  |  | 42 |
Government agency collateralized mortgage obligations |  |  | 1 |  |  |  | 66 |  |  |  | 0 |  |  |  | 41 |  |  |  | 63,112 |  |  |  | 1,283 |  |  |  | 42 |  |  |  | 63,178 |  |  |  | 1,283 |
Total available-for-sale investment portfolio |  |  | 169 |  |  | $ | 576,527 |  |  | $ | 1,156 |  |  |  | 384 |  |  | $ | 1,584,618 |  |  | $ | 25,412 |  |  |  | 553 |  |  | $ | 2,161,145 |  |  | $ | 26,568 |
Equity and other Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities, at fair value |  |  | 1 |  |  | $ | 82 |  |  | $ | 19 |  |  |  | 0 |  |  | $ | 0 |  |  | $ | 0 |  |  |  | 1 |  |  | $ | 82 |  |  | $ | 19 |
Total equity and other securities |  |  | 1 |  |  | $ | 82 |  |  | $ | 19 |  |  |  | 0 |  |  | $ | 0 |  |  | $ | 0 |  |  |  | 1 |  |  | $ | 82 |  |  | $ | 19 |
Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity | Securities not due at a single maturity date are shown separately.
|  | Available-for-Sale |
(000's omitted) |  | Amortized Cost |  |  | Fair Value |
Due in one year or less |  | $ | 76,873 |  |  | $ | 76,767 |
Due after one through five years |  |  | 2,093,361 |  |  |  | 2,096,910 |
Due after five years through ten years |  |  | 152,168 |  |  |  | 156,042 |
Due after ten years |  |  | 137,485 |  |  |  | 140,965 |
Subtotal |  |  | 2,459,887 |  |  |  | 2,470,684 |
Government agency mortgage-backed securities |  |  | 389,154 |  |  |  | 386,543 |
Government agency collateralized mortgage obligations |  |  | 66,226 |  |  |  | 65,716 |
Total |  | $ | 2,915,267 |  |  | $ | 2,922,943 |

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