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INVESTMENT SECURITIES (Tables) | 9 Months Ended
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Sep. 30, 2021
INVESTMENT SECURITIES |
Schedule of amortized cost and estimated fair value of investment securities | The amortized cost and estimated fair value of investment securities as of September 30, 2021 and December 31, 2020 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2021 | ​ | December 31, 2020
​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Fair | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Fair
(000’s omitted) |  | Cost |  | Gains |  | Losses |  | Value |  | Cost |  | Gains |  | Losses |  | Value
Available-for-Sale Portfolio: | ​ | ​ | ​ |  | ​ |  |  | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ |  | ​ |  |  | ​ |  | ​ | ​ | ​
U.S. Treasury and agency securities | ​ | $ | 3,467,053 | ​ | $ | 44,279 | ​ | $ | 118,072 | ​ | $ | 3,393,260 | ​ | $ | 2,423,236 | ​ | $ | 94,741 | ​ | $ | 16,595 | ​ | $ | 2,501,382
Obligations of state and political subdivisions | ​ |  | 404,531 | ​ |  | 17,654 | ​ |  | 220 | ​ |  | 421,965 | ​ |  | 451,028 | ​ |  | 24,632 | ​ |  | 0 | ​ |  | 475,660
Government agency mortgage-backed securities | ​ |  | 503,548 | ​ |  | 11,232 | ​ |  | 4,104 | ​ |  | 510,676 | ​ |  | 506,540 | ​ |  | 16,280 | ​ |  | 182 | ​ |  | 522,638
Corporate debt securities | ​ |  | 8,000 | ​ |  | 84 | ​ |  | 6 | ​ |  | 8,078 | ​ |  | 4,499 | ​ |  | 137 | ​ |  | 1 | ​ |  | 4,635
Government agency collateralized mortgage obligations | ​ |  | 23,746 | ​ |  | 647 | ​ |  | 1 | ​ |  | 24,392 | ​ |  | 42,476 | ​ |  | 1,111 | ​ |  | 10 | ​ |  | 43,577
Total available-for-sale portfolio | ​ | $ | 4,406,878 | ​ | $ | 73,896 | ​ | $ | 122,403 | ​ | $ | 4,358,371 | ​ | $ | 3,427,779 | ​ | $ | 136,901 | ​ | $ | 16,788 | ​ | $ | 3,547,892
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Equity and other Securities: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Equity securities, at fair value | ​ | $ | 251 | ​ | $ | 208 | ​ | $ | 0 | ​ | $ | 459 | ​ | $ | 251 | ​ | $ | 194 | ​ | $ | 0 | ​ | $ | 445
Federal Home Loan Bank common stock | ​ |  | 7,251 | ​ |  | 0 | ​ |  | 0 | ​ |  | 7,251 | ​ |  | 7,468 | ​ |  | 0 | ​ |  | 0 | ​ |  | 7,468
Federal Reserve Bank common stock | ​ |  | 33,916 | ​ |  | 0 | ​ |  | 0 | ​ |  | 33,916 | ​ |  | 33,916 | ​ |  | 0 | ​ |  | 0 | ​ |  | 33,916
Other equity securities, at adjusted cost | ​ |  | 2,651 | ​ |  | 750 | ​ |  | 0 | ​ |  | 3,401 | ​ |  | 4,876 | ​ |  | 750 | ​ |  | 0 | ​ |  | 5,626
Total equity and other securities | ​ | $ | 44,069 | ​ | $ | 958 | ​ | $ | 0 | ​ | $ | 45,027 | ​ | $ | 46,511 | ​ | $ | 944 | ​ | $ | 0 | ​ | $ | 47,455
Schedule 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 September 30, 2021 ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Less than 12 Months |  | 12 Months or Longer |  | Total
​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | ​ | ​ | ​ | ​ | ​ | Gross
​ | ​ | ​ | ​ | Fair | ​ | Unrealized | ​ | ​ | ​ | Fair | ​ | Unrealized | ​ | ​ | ​ | Fair | ​ | Unrealized
(000’s omitted) |  | # |  | Value |  | Losses |  | # |  | Value |  | Losses |  | # |  | Value |  | Losses
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Available-for-Sale Portfolio: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ |  | ​ | ​ |  | ​ | ​ |
U.S. Treasury and agency securities | ​ | 38 | ​ | $ | 1,223,230 | ​ | $ | 41,243 | ​ | 8 | ​ | $ | 579,793 | ​ | $ | 76,829 | ​ | 46 | ​ | $ | 1,803,023 | ​ | $ | 118,072
Obligations of state and political subdivisions | ​ | 21 | ​ |  | 16,608 | ​ |  | 220 | ​ | 0 | ​ |  | 0 | ​ |  | 0 | ​ | 21 | ​ |  | 16,608 | ​ |  | 220
Government agency mortgage-backed securities | ​ | 117 | ​ |  | 169,915 | ​ |  | 3,528 | ​ | 20 | ​ |  | 18,069 | ​ |  | 576 | ​ | 137 | ​ |  | 187,984 | ​ |  | 4,104
Corporate debt securities | ​ | 1 | ​ | ​ | 4,994 | ​ | ​ | 6 | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 0 | ​ | 1 | ​ | ​ | 4,994 | ​ | ​ | 6
Government agency collateralized mortgage obligations | ​ | 5 | ​ |  | 1,088 | ​ |  | 1 | ​ | 1 | ​ |  | 73 | ​ |  | 0 | ​ | 6 | ​ |  | 1,161 | ​ |  | 1
Total available-for-sale investment portfolio | ​ | 182 | ​ | $ | 1,415,835 | ​ | $ | 44,998 | ​ | 29 | ​ | $ | 597,935 | ​ | $ | 77,405 | ​ | 211 | ​ | $ | 2,013,770 | ​ | $ | 122,403
​ As of December 31, 2020 ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Less than 12 Months |  | 12 Months or Longer |  | Total
​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | ​ | ​ | ​ | ​ | ​ | Gross
​ | ​ | ​ | ​ | Fair | ​ | Unrealized | ​ | ​ | ​ | Fair | ​ | Unrealized | ​ | ​ | ​ | Fair | ​ | Unrealized
(000’s omitted) |  | # |  | Value |  | Losses |  | # |  | Value |  | Losses |  | # |  | Value |  | Losses
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Available-for-Sale Portfolio: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ |  | ​ | ​ | ​ | ​ | ​ |
U.S. Treasury and agency securities | ​ | 13 | ​ | $ | 831,015 | ​ | $ | 16,595 | ​ | 0 | ​ | $ | 0 | ​ | $ | 0 | ​ | 13 | ​ | $ | 831,015 | ​ | $ | 16,595
Obligations of state and political subdivisions | ​ | 1 | ​ |  | 358 | ​ |  | 0 | ​ | 0 | ​ |  | 0 | ​ |  | 0 | ​ | 1 | ​ |  | 358 | ​ |  | 0
Government agency mortgage-backed securities | ​ | 89 | ​ |  | 75,992 | ​ |  | 182 | ​ | 2 | ​ |  | 14 | ​ |  | 0 | ​ | 91 | ​ |  | 76,006 | ​ |  | 182
Corporate debt securities | ​ | 1 | ​ | ​ | 1,001 | ​ | ​ | 1 | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 0 | ​ | 1 | ​ | ​ | 1,001 | ​ | ​ | 1
Government agency collateralized mortgage obligations | ​ | 13 | ​ |  | 5,246 | ​ |  | 10 | ​ | 1 | ​ |  | 0 | ​ |  | 0 | ​ | 14 | ​ |  | 5,246 | ​ |  | 10
Total available-for-sale investment portfolio | ​ | 117 | ​ | $ | 913,612 | ​ | $ | 16,788 | ​ | 3 | ​ | $ | 14 | ​ | $ | 0 | ​ | 120 | ​ | $ | 913,626 | ​ | $ | 16,788
​
Schedule of amortized cost and estimated fair value of debt securities by contractual maturity | The amortized cost and estimated fair value of debt securities at September 30, 2021, 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
​ | ​ | Amortized | ​ | Fair
(000’s omitted) |  | Cost |  | Value
Due in one year or less | ​ | $ | 187,457 | ​ | $ | 189,642
Due after one through five years | ​ |  | 693,642 | ​ |  | 715,779
Due after five years through ten years | ​ |  | 1,506,410 | ​ |  | 1,515,582
Due after ten years | ​ |  | 1,492,075 | ​ |  | 1,402,300
Subtotal | ​ |  | 3,879,584 | ​ |  | 3,823,303
Government agency mortgage-backed securities | ​ |  | 503,548 | ​ |  | 510,676
Government agency collateralized mortgage obligations | ​ |  | 23,746 | ​ |  | 24,392
Total | ​ | $ | 4,406,878 | ​ | $ | 4,358,371

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