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PARENT COMPANY STATEMENTS (Tables) | 12 Months Ended
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Dec. 31, 2021
PARENT COMPANY STATEMENTS |
Condensed Statements of Condition of Parent Company | 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
​
Condensed Statements of Income of Parent Company | 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
​
Statements of Cash Flows of Parent Company | 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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