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GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS (Tables) | 12 Months Ended
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Dec. 31, 2021
GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS |
Schedule of gross carrying amount and accumulated amortization for each type of identifiable intangible asset | The gross carrying amount and accumulated amortization for each type of identifiable intangible asset are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021 |  | December 31, 2020
​ | ​ | Gross | ​ | ​ | ​ | ​ | Net | ​ | Gross | ​ | ​ | ​ | ​ | Net
​ |  | Carrying |  | Accumulated |  | Carrying |  | Carrying |  | Accumulated |  | Carrying
(000’s omitted) | ​ | Amount |  | Amortization |  | Amount |  | Amount |  | Amortization |  | Amount
Amortizing intangible assets: | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Core deposit intangibles | ​ | $ | 69,403 | ​ | $ | (60,316) | ​ | $ | 9,087 | ​ | $ | 69,403 | ​ | $ | (55,572) | ​ | $ | 13,831
Other intangibles | ​ |  | 116,799 | ​ |  | (60,660) | ​ |  | 56,139 | ​ |  | 90,462 | ​ |  | (51,353) | ​ |  | 39,109
Total amortizing intangibles | ​ | $ | 186,202 | ​ | $ | (120,976) | ​ | $ | 65,226 | ​ | $ | 159,865 | ​ | $ | (106,925) | ​ | $ | 52,940
​
Schedule of estimated aggregate amortization expense for each of five succeeding fiscal years | The estimated aggregate amortization expense for each of the five succeeding fiscal years ended December 31 is as follows (000’s omitted): ​
​ | ​ | ​ | ​
Year |  | Amount
2022 | ​ | $ | 13,668
2023 | ​ | ​ | 11,595
2024 | ​ |  | 9,782
2025 | ​ |  | 8,349
2026 | ​ |  | 7,494
Thereafter | ​ |  | 14,338
Total | ​ | $ | 65,226
​
Schedule of components of goodwill | Shown below are the components of the Company’s goodwill at December 31, 2021, 2020, and 2019: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | December 31, | ​ | ​ | ​ | ​ | December 31, | ​ | ​ | ​ | ​ | December 31,
(000’s omitted) |  | ​ | 2019 |  | Activity |  | 2020 |  | Activity |  | 2021
Goodwill, net | ​ | $ | 773,810 | ​ | $ | 19,898 | ​ | $ | 793,708 | ​ | $ | 5,401 | ​ | $ | 799,109
​
Schedule of changes in carrying value of MSRs and associated valuation allowance | The following table summarizes the changes in carrying value of MSRs and the associated valuation allowance: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(000’s omitted) | ​ | 2021 | ​ | 2020
Carrying value before valuation allowance at beginning of period | ​ | $ | 1,430 | ​ | $ | 972
Additions | ​ |  | 233 | ​ |  | 715
Acquisitions | ​ |  | 0 | ​ |  | 122
Amortization | ​ |  | (519) | ​ |  | (379)
Carrying value before valuation allowance at end of period | ​ |  | 1,144 | ​ |  | 1,430
Valuation allowance balance at beginning of period | ​ |  | (219) | ​ |  | (298)
Impairment charges | ​ |  | (55) | ​ |  | (150)
Impairment recoveries | ​ |  | 274 | ​ |  | 229
Valuation allowance balance at end of period | ​ |  | 0 | ​ |  | (219)
Net carrying value at end of period | ​ | $ | 1,144 | ​ | $ | 1,211
Fair value of MSRs at end of period | ​ | $ | 1,469 | ​ | $ | 1,384
Principal balance of mortgage loans sold during the year | ​ | $ | 20,133 | ​ | $ | 79,709
Principal balance of loans serviced for others | ​ | $ | 296,506 | ​ | $ | 351,759
Custodial escrow balances maintained in connection with loans serviced for others | ​ | $ | 4,934 | ​ | $ | 5,583
​
Schedule of key economic assumptions used to estimate value of MSRs | The following table summarizes the key economic assumptions used to estimate the value of the MSRs at December 31: ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2021 | ​ | 2020 |
Weighted-average contractual life (in years) |  | 21.4 |  | 21.5 | ​
Weighted-average constant prepayment rate (CPR) |  | 24.5 | % | 30.4 | %
Weighted-average discount rate |  | 2.6 | % | 2.1 | %

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