XML 57 R41.htm IDEA: XBRL DOCUMENT v3.20.4

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2020

INCOME TAXES

Schedule of provision for income taxes

The provision for income taxes for the years ended December 31 is as follows:

​

​	​	​	​	​	​	​	​	​	​
(000’s omitted)		2020			2019			2018
Current:		​			​			​
Federal	​	$	35,728	​	$	34,804	​	$	32,504
State and other	​		8,008	​		7,773	​		9,180
Deferred:	​		​	​			​
Federal	​		(2,005)	​		(699)	​		2,122
State and other	​		(331)	​		(1,603)	​		541
Provision for income taxes	​	$	41,400	​	$	40,275	​	$	44,347

​

Schedule of net deferred tax liability

Components of the net deferred tax liability, included in other liabilities, as of December 31 are as follows:

​

​	​	​	​	​	​	​
(000’s omitted)		2020			2019
Allowance for credit losses	​	$	15,004	​	$	12,059
Employee benefits	​		7,552	​		5,393
Operating lease liabilities	​		8,601	​		9,801
Other, net	​		900	​		837
Deferred tax asset	​		32,057	​		28,090
​	​	​	​	​	​	​
Investment securities	​		43,325	​		21,547
Goodwill and intangibles	​		40,802	​		39,189
Operating lease right-of-use assets	​		8,384	​		9,566
Loan origination costs	​		7,904	​		7,639
Depreciation	​		3,089	​		2,736
Mortgage servicing rights	​		291	​		162
Pension	​		16,987	​		13,769
Deferred tax liability	​		120,782	​		94,608
Net deferred tax liability	​	$	(88,725)	​	$	(66,518)

​

Schedule of reconciliation of the differences between the federal statutory income tax rate

A reconciliation of the differences between the federal statutory income tax rate and the effective tax rate for the years ended December 31 is shown in the following table:

​

​	​	​	​	​	​	​	​
​		2020		2019		2018
Federal statutory income tax rate		21.0	%	21.0	%	21.0	%
Increase (reduction) in taxes resulting from:		​					​
Tax-exempt interest		(1.5)		(1.5)		(1.6)	​
State income taxes, net of federal benefit		3.0		2.5		3.4	​
Stock-based compensation		(0.8)		(1.6)		(0.9)	​
Federal tax credits		(1.3)		(1.3)		(1.4)	​
Other, net		(0.3)		0.1		0.3	​
Effective income tax rate		20.1	%	19.2	%	20.8	%

Schedule of reconciliation of the unrecognized tax benefits

A reconciliation of the unrecognized tax benefits for the years ended December 31 is shown in the following table:

​

​	​	​	​	​	​	​	​	​	​
(000’s omitted)		2020			2019			2018
Unrecognized tax benefits at beginning of year	​	$	0	​	$	0	​	$	24
Changes related to:	​			​		​	​
Lapse of statutes of limitations	​		0	​		0	​		(24)
Unrecognized tax benefits at end of year	​	$	0	​	$	0	​	$	0

​

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15A
-URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319

+ Details

Name:	us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration