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DERIVATIVE INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2020

DERIVATIVE INSTRUMENTS

Amounts Related to Cumulative Basis Adjustments for Fair Value Hedges

As of December 31, 2020 and December 31, 2019, the following amounts were recorded in the consolidated statement of condition related to cumulative basis adjustments for fair value hedges:

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(000’s omitted)

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Cumulative Amount of

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Fair Value Hedging

Line Item in the

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Adjustment Included in the

Consolidated Statement

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Carrying Amount

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Carrying Amount of

of Condition in Which the

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of the Hedged Assets

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the Hedged Assets

Hedged Item Is Included

December 31, 2020

December 31, 2019

December 31, 2020

December 31, 2019

Loans

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$

5,675

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$

6,390

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$

(498)

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$

(265)

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Fair Value of Derivative Instruments

Fair values of derivative instruments as of December 31, 2020 are as follows:

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​	​	​	​	​	​	​	​	​	​	​
(000’s omitted)	​	December 31, 2020
​	​	Derivative Assets				​	Derivative Liabilities
​	​	Consolidated Statement	​	​	​	​	Consolidated Statement	​	​	​
​	​	of Condition Location		Fair Value			of Condition Location		Fair Value
Derivatives designated as hedging instruments under Subtopic 815-20			​		​	​		​		​
Interest rate swaps		Other assets	​	$	498					​
​	​	​	​	​	​	​	​	​	​	​
Derivatives not designated as hedging instruments under Subtopic 815-20		​	​		​					​
Interest rate swaps		Other assets	​		1,074		Accrued interest and other liabilities		$	1,074
Commitments to originate real estate loans for sale	​	Other assets	​	​	14	​	​	​	​	​
Forward sales commitments	​	Other assets	​	​	2	​	​	​	​	​
Total derivatives			​	$	1,588				$	1,074

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Fair values of derivative instruments as of December 31, 2019 are as follows:

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​	​	​	​	​	​	​	​	​	​	​	​
(000’s omitted)		December 31, 2019
​	​	Derivative Assets					​	Derivative Liabilities
​		Consolidated Statement of			​	​		Consolidated Statement of Condition		​	​
​		Condition Location			Fair Value			Location		Fair Value
Derivatives designated as hedging instruments under Subtopic 815-20		​			​					​
Interest rate swaps		​	Other assets	​	$	265				​
​	​	​	​	​	​	​	​	​	​	​	​
Derivatives not designated as hedging instruments under Subtopic 815-20		​		​						​
Interest rate swaps		​	Other assets	​		586		Accrued interest and other liabilities	​	$	586
Total derivatives	​	​	​	​	$	851			​	$	586

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- References

No definition available.

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- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959

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- Definition

Tabular disclosure for fair value hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959

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