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INVESTMENT SECURITIES (Tables) | 3 Months Ended
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Mar. 31, 2020
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, 2020 and December 31, 2019 are as follows:
|  | March 31, 2020 |  |  | December 31, 2019 |
(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 |  | $ | 2,016,500 |  |  | $ | 122,579 |  |  | $ | 0 |  |  | $ | 2,139,079 |  |  | $ | 2,030,060 |  |  | $ | 21,674 |  |  | $ | 7,975 |  |  | $ | 2,043,759 |
Obligations of state and political subdivisions |  |  | 485,755 |  |  |  | 15,955 |  |  |  | 2 |  |  |  | 501,708 |  |  |  | 497,852 |  |  |  | 14,382 |  |  |  | 26 |  |  |  | 512,208 |
Government agency mortgage-backed securities |  |  | 433,129 |  |  |  | 15,129 |  |  |  | 10 |  |  |  | 448,248 |  |  |  | 428,491 |  |  |  | 5,478 |  |  |  | 1,107 |  |  |  | 432,862 |
Corporate debt securities |  |  | 2,512 |  |  |  | 0 |  |  |  | 4 |  |  |  | 2,508 |  |  |  | 2,527 |  |  |  | 1 |  |  |  | 0 |  |  |  | 2,528 |
Government agency collateralized mortgage obligations |  |  | 48,681 |  |  |  | 1,658 |  |  |  | 0 |  |  |  | 50,339 |  |  |  | 52,621 |  |  |  | 482 |  |  |  | 32 |  |  |  | 53,071 |
Total available-for-sale portfolio |  | $ | 2,986,577 |  |  | $ | 155,321 |  |  | $ | 16 |  |  | $ | 3,141,882 |  |  | $ | 3,011,551 |  |  | $ | 42,017 |  |  | $ | 9,140 |  |  | $ | 3,044,428 |
Equity and other Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities, at fair value |  | $ | 251 |  |  | $ | 198 |  |  | $ | 28 |  |  | $ | 421 |  |  | $ | 251 |  |  | $ | 200 |  |  | $ | 0 |  |  | $ | 451 |
Federal Home Loan Bank common stock |  |  | 6,857 |  |  |  | 0 |  |  |  | 0 |  |  |  | 6,857 |  |  |  | 7,246 |  |  |  | 0 |  |  |  | 0 |  |  |  | 7,246 |
Federal Reserve Bank common stock |  |  | 30,922 |  |  |  | 0 |  |  |  | 0 |  |  |  | 30,922 |  |  |  | 30,922 |  |  |  | 0 |  |  |  | 0 |  |  |  | 30,922 |
Other equity securities, at adjusted cost |  |  | 4,549 |  |  |  | 750 |  |  |  | 0 |  |  |  | 5,299 |  |  |  | 4,546 |  |  |  | 750 |  |  |  | 0 |  |  |  | 5,296 |
Total equity and other securities |  | $ | 42,579 |  |  | $ | 948 |  |  | $ | 28 |  |  | $ | 43,499 |  |  | $ | 42,965 |  |  | $ | 950 |  |  | $ | 0 |  |  | $ | 43,915 |
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, 2020
|  | 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: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligations of state and political subdivisions |  |  | 9 |  |  | $ | 1,444 |  |  | $ | 2 |  |  |  | 0 |  |  | $ | 0 |  |  | $ | 0 |  |  |  | 9 |  |  | $ | 1,444 |  |  | $ | 2 |
Government agency mortgage-backed securities |  |  | 1 |  |  |  | 1,154 |  |  |  | 10 |  |  |  | 3 |  |  |  | 304 |  |  |  | 0 |  |  |  | 4 |  |  |  | 1,458 |  |  |  | 10 |
Corporate debt securities |  |  | 1 |  |  |  | 2,508 |  |  |  | 4 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 1 |  |  |  | 2,508 |  |  |  | 4 |
Government agency collateralized mortgage obligations |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 2 |  |  |  | 27 |  |  |  | 0 |  |  |  | 2 |  |  |  | 27 |  |  |  | 0 |
Total available-for-sale investment portfolio |  |  | 11 |  |  | $ | 5,106 |  |  | $ | 16 |  |  |  | 5 |  |  | $ | 331 |  |  | $ | 0 |  |  |  | 16 |  |  | $ | 5,437 |  |  | $ | 16 |
Equity and other Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities, at fair value |  |  | 1 |  |  | $ | 73 |  |  | $ | 28 |  |  |  | 0 |  |  | $ | 0 |  |  | $ | 0 |  |  |  | 1 |  |  | $ | 73 |  |  | $ | 28 |
Total equity and other securities |  |  | 1 |  |  | $ | 73 |  |  | $ | 28 |  |  |  | 0 |  |  | $ | 0 |  |  | $ | 0 |  |  |  | 1 |  |  | $ | 73 |  |  | $ | 28 |
As of December 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 |  |  | 12 |  |  | $ | 592,678 |  |  | $ | 7,970 |  |  |  | 5 |  |  | $ | 25,998 |  |  | $ | 5 |  |  |  | 17 |  |  | $ | 618,676 |  |  | $ | 7,975 |
Obligations of state and political subdivisions |  |  | 21 |  |  |  | 22,716 |  |  |  | 26 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 21 |  |  |  | 22,716 |  |  |  | 26 |
Government agency mortgage-backed securities |  |  | 50 |  |  |  | 89,237 |  |  |  | 341 |  |  |  | 52 |  |  |  | 52,975 |  |  |  | 766 |  |  |  | 102 |  |  |  | 142,212 |  |  |  | 1,107 |
Government agency collateralized mortgage obligations |  |  | 5 |  |  |  | 5,971 |  |  |  | 14 |  |  |  | 5 |  |  |  | 4,405 |  |  |  | 18 |  |  |  | 10 |  |  |  | 10,376 |  |  |  | 32 |
Total available-for-sale investment portfolio |  |  | 88 |  |  | $ | 710,602 |  |  | $ | 8,351 |  |  |  | 62 |  |  | $ | 83,378 |  |  | $ | 789 |  |  |  | 150 |  |  | $ | 793,980 |  |  | $ | 9,140 |
Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity | The amortized cost and estimated fair value of debt securities at March 31, 2020, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. 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 |  | $ | 662,404 |  |  | $ | 671,422 |
Due after one through five years |  |  | 893,934 |  |  |  | 940,096 |
Due after five years through ten years |  |  | 445,987 |  |  |  | 485,140 |
Due after ten years |  |  | 502,442 |  |  |  | 546,637 |
Subtotal |  |  | 2,504,767 |  |  |  | 2,643,295 |
Government agency mortgage-backed securities |  |  | 433,129 |  |  |  | 448,248 |
Government agency collateralized mortgage obligations |  |  | 48,681 |  |  |  | 50,339 |
Total |  | $ | 2,986,577 |  |  | $ | 3,141,882 |

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- Definition Tabular disclosure of investment. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 325 -URI http://asc.fasb.org/topic&trid=2197064 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 321 -URI http://asc.fasb.org/topic&trid=75115024 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27290-111563 + Details
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