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PARENT COMPANY STATEMENTS | 12 Months Ended
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Dec. 31, 2021
PARENT COMPANY STATEMENTS |
PARENT COMPANY STATEMENTS | NOTE Q: PARENT COMPANY STATEMENTS The condensed statements of condition of the parent company, Community Bank System, Inc., at December 31 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(000's omitted) |  | 2021 |  | 2020
Assets: |  | ​ |  |  | ​ |
Cash and cash equivalents | ​ | $ | 154,374 | ​ | $ | 196,021
Investment securities | ​ |  | 8,679 | ​ |  | 6,043
Investment in and advances to: | ​ |  | ​ | ​ |  |
Bank subsidiary | ​ |  | 1,721,520 | ​ |  | 1,802,150
Non-bank subsidiaries | ​ |  | 232,096 | ​ |  | 196,090
Other assets | ​ |  | 18,462 | ​ |  | 15,290
Total assets | ​ | $ | 2,135,131 | ​ | $ | 2,215,594
​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities and shareholders' equity: | ​ |  | ​ | ​ |  |
Accrued interest and other liabilities | ​ | $ | 31,047 | ​ | $ | 30,864
Borrowings | ​ |  | 3,277 | ​ |  | 80,623
Shareholders' equity | ​ |  | 2,100,807 | ​ |  | 2,104,107
Total liabilities and shareholders' equity | ​ | $ | 2,135,131 | ​ | $ | 2,215,594
​ The condensed statements of income of the parent company for the years ended December 31 is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(000's omitted) |  | 2021 |  | 2020 |  | 2019
Revenues: |  | ​ |  |  | ​ |  |  | ​ |
Dividends from subsidiaries: |  | ​ |  |  | ​ |  |  | ​ |
Bank subsidiary | ​ | $ | 125,000 | ​ | $ | 105,000 | ​ | $ | 115,000
Non-bank subsidiaries | ​ |  | 14,000 | ​ |  | 13,500 | ​ |  | 27,600
Interest and dividends on investments | ​ |  | 245 | ​ |  | 168 | ​ |  | 134
Total revenues | ​ |  | 139,245 | ​ |  | 118,668 | ​ |  | 142,734
Expenses: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Interest on borrowings | ​ |  | 446 | ​ |  | 2,546 | ​ |  | 4,244
Acquisition expenses | ​ |  | 0 | ​ |  | 450 | ​ |  | 1,248
Gain on debt extinguishment | ​ |  | 0 | ​ |  | (421) | ​ |  | 0
Other expenses | ​ |  | 5,717 | ​ |  | 4,945 | ​ |  | 477
Total expenses | ​ |  | 6,163 | ​ |  | 7,520 | ​ |  | 5,969
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income before tax benefit and equity in undistributed net income of subsidiaries | ​ |  | 133,082 | ​ |  | 111,148 | ​ |  | 136,765
Income tax benefit | ​ |  | 3,964 | ​ |  | 3,739 | ​ |  | 4,545
Income before equity in undistributed net income of subsidiaries | ​ |  | 137,046 | ​ |  | 114,887 | ​ |  | 141,310
Equity in undistributed net income of subsidiaries | ​ |  | 52,648 | ​ |  | 49,789 | ​ |  | 27,753
Net income | ​ | $ | 189,694 | ​ | $ | 164,676 | ​ | $ | 169,063
Other comprehensive (loss) income, net of tax: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Changes in other comprehensive income (loss) related to pension and other post retirement obligations | ​ |  | 13,403 | ​ |  | 6,009 | ​ |  | (2,045)
Changes in other comprehensive (loss) income related to unrealized (losses) gains on available-for-sale securities | ​ |  | (126,107) | ​ |  | 66,294 | ​ |  | 37,124
Other comprehensive (loss) income | ​ |  | (112,704) | ​ |  | 72,303 | ​ |  | 35,079
Comprehensive income | ​ | $ | 76,990 | ​ | $ | 236,979 | ​ | $ | 204,142
​ The statements of cash flows of the parent company for the years ended December 31 is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(000's omitted) |  | 2021 |  | 2020 |  | 2019
Operating activities: |  | ​ |  |  | ​ |  |  | ​ |
Net income | ​ | $ | 189,694 | ​ | $ | 164,676 | ​ | $ | 169,063
Adjustments to reconcile net income to net cash provided by operating activities | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Equity in undistributed net income of subsidiaries | ​ |  | (52,648) | ​ |  | (49,789) | ​ |  | (27,753)
Net change in other assets and other liabilities | ​ |  | (3,050) | ​ |  | 1,740 | ​ |  | 86
Net cash provided by operating activities | ​ |  | 133,996 | ​ |  | 116,627 | ​ |  | 141,396
Investing activities: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Purchases of investment securities | ​ | ​ | (5,173) | ​ | ​ | (3,000) | ​ | ​ | 0
Cash paid for acquisitions, net of cash acquired of $0, $448, and $1,328, respectively | ​ |  | 0 | ​ |  | (20,892) | ​ |  | (92,056)
(Capital contributions to)/Return of capital from | ​ |  | (12,918) | ​ |  | 2 | ​ |  | 100,680
Net cash (used in)/provided by investing activities | ​ |  | (18,091) | ​ |  | (23,890) | ​ |  | 8,624
Financing activities: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Repayment of advances from subsidiaries | ​ |  | (482) | ​ |  | (482) | ​ |  | (1,652)
Repayment of borrowings | ​ |  | (77,320) | ​ |  | (12,062) | ​ |  | (22,681)
Issuance of common stock | ​ |  | 16,155 | ​ |  | 22,211 | ​ |  | 12,200
Purchase of treasury stock | ​ |  | (5,106) | ​ |  | (271) | ​ |  | (286)
Sale of treasury stock | ​ |  | 0 | ​ |  | 85 | ​ |  | 6,884
Increase in deferred compensation arrangements | ​ |  | 252 | ​ |  | 271 | ​ |  | 286
Cash dividends paid | ​ |  | (91,051) | ​ |  | (87,131) | ​ |  | (80,241)
Net cash used in financing activities | ​ |  | (157,552) | ​ |  | (77,379) | ​ |  | (85,490)
Change in cash and cash equivalents | ​ |  | (41,647) | ​ |  | 15,358 | ​ |  | 64,530
Cash and cash equivalents at beginning of year | ​ |  | 196,021 | ​ |  | 180,663 | ​ |  | 116,133
Cash and cash equivalents at end of year | ​ | $ | 154,374 | ​ | $ | 196,021 | ​ | $ | 180,663
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Supplemental disclosures of cash flow information: | ​ |  |  | ​ |  | ​ | ​ |  |
Cash paid for interest | ​ | $ | 560 | ​ | $ | 2,555 | ​ | $ | 4,306
Supplemental disclosures of noncash financing activities: | ​ |  |  | ​ |  |  | ​ |  |
Dividends declared and unpaid | ​ | $ | 23,235 | ​ | $ | 22,695 | ​ | $ | 21,342
Advances from subsidiaries | ​ |  | 482 | ​ |  | 932 | ​ |  | 1,691
Common stock issued for acquisition | ​ |  | 0 | ​ |  | 76,942 | ​ |  | 0
​

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI http://asc.fasb.org/extlink&oid=120391182&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=123454820&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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