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INVESTMENT SECURITIES (Tables) | 3 Months Ended
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Mar. 31, 2022
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 March 31, 2022 and December 31, 2021 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2022 | ​ | December 31, 2021
​ | ​ | ​ | ​ | ​ | 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 | ​ | $ | 5,200,931 | ​ | $ | 4,301 | ​ | $ | 373,145 | ​ | $ | 4,832,087 | ​ | $ | 4,064,624 | ​ | $ | 39,997 | ​ | $ | 106,057 | ​ | $ | 3,998,564
Obligations of state and political subdivisions | ​ |  | 488,659 | ​ |  | 4,220 | ​ |  | 16,724 | ​ |  | 476,155 | ​ |  | 413,019 | ​ |  | 17,326 | ​ |  | 56 | ​ |  | 430,289
Government agency mortgage-backed securities | ​ |  | 476,790 | ​ |  | 1,213 | ​ |  | 23,756 | ​ |  | 454,247 | ​ |  | 474,506 | ​ |  | 7,615 | ​ |  | 5,065 | ​ |  | 477,056
Corporate debt securities | ​ |  | 8,000 | ​ |  | 0 | ​ |  | 503 | ​ |  | 7,497 | ​ |  | 8,000 | ​ |  | 39 | ​ |  | 77 | ​ |  | 7,962
Government agency collateralized mortgage obligations | ​ |  | 17,429 | ​ |  | 32 | ​ |  | 289 | ​ |  | 17,172 | ​ |  | 19,953 | ​ |  | 410 | ​ |  | 24 | ​ |  | 20,339
Total available-for-sale portfolio | ​ | $ | 6,191,809 | ​ | $ | 9,766 | ​ | $ | 414,417 | ​ | $ | 5,787,158 | ​ | $ | 4,980,102 | ​ | $ | 65,387 | ​ | $ | 111,279 | ​ | $ | 4,934,210
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Equity and Other Securities: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Equity securities, at fair value | ​ | $ | 251 | ​ | $ | 214 | ​ | $ | 0 | ​ | $ | 465 | ​ | $ | 251 | ​ | $ | 212 | ​ | $ | 0 | ​ | $ | 463
Federal Home Loan Bank common stock | ​ |  | 7,181 | ​ |  | 0 | ​ |  | 0 | ​ |  | 7,181 | ​ |  | 7,188 | ​ |  | 0 | ​ |  | 0 | ​ |  | 7,188
Federal Reserve Bank common stock | ​ |  | 33,568 | ​ |  | 0 | ​ |  | 0 | ​ |  | 33,568 | ​ |  | 33,916 | ​ |  | 0 | ​ |  | 0 | ​ |  | 33,916
Other equity securities, at adjusted cost | ​ |  | 2,494 | ​ |  | 750 | ​ |  | 0 | ​ |  | 3,244 | ​ |  | 2,562 | ​ |  | 750 | ​ |  | 0 | ​ |  | 3,312
Total equity and other securities | ​ | $ | 43,494 | ​ | $ | 964 | ​ | $ | 0 | ​ | $ | 44,458 | ​ | $ | 43,917 | ​ | $ | 962 | ​ | $ | 0 | ​ | $ | 44,879
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 March 31, 2022 ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Less than 12 Months |  | 12 Months or Longer |  | Total
​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | ​ | ​ | ​ | ​ | ​ | Gross
​ | ​ | ​ | ​ | ​ | ​ | Unrealized | ​ | ​ | ​ | ​ | ​ | Unrealized | ​ | ​ | ​ | ​ | ​ | Unrealized
(000’s omitted) |  | # |  | Fair Value |  | Losses |  | # |  | Fair Value |  | Losses |  | # |  | Fair Value |  | Losses
Available-for-Sale Portfolio: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ |  | ​ | ​ | ​ | ​ | ​ |
U.S. Treasury and agency securities | ​ | 94 | ​ | $ | 3,308,837 | ​ | $ | 179,251 | ​ | 18 | ​ | $ | 894,753 | ​ | $ | 193,894 | ​ | 112 | ​ | $ | 4,203,590 | ​ | $ | 373,145
Obligations of state and political subdivisions | ​ | 292 | ​ |  | 244,080 | ​ |  | 16,724 | ​ | 0 | ​ |  | 0 | ​ |  | 0 | ​ | 292 | ​ |  | 244,080 | ​ |  | 16,724
Government agency mortgage-backed securities | ​ | 431 | ​ |  | 289,183 | ​ |  | 12,368 | ​ | 85 | ​ |  | 107,216 | ​ |  | 11,388 | ​ | 516 | ​ |  | 396,399 | ​ |  | 23,756
Corporate debt securities | ​ | 2 | ​ | ​ | 7,497 | ​ | ​ | 503 | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 0 | ​ | 2 | ​ | ​ | 7,497 | ​ | ​ | 503
Government agency collateralized mortgage obligations | ​ | 38 | ​ |  | 14,289 | ​ |  | 289 | ​ | 1 | ​ |  | 31 | ​ |  | 0 | ​ | 39 | ​ |  | 14,320 | ​ |  | 289
Total available-for-sale investment portfolio | ​ | 857 | ​ | $ | 3,863,886 | ​ | $ | 209,135 | ​ | 104 | ​ | $ | 1,002,000 | ​ | $ | 205,282 | ​ | 961 | ​ | $ | 4,865,886 | ​ | $ | 414,417
​ As of December 31, 2021 ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Less than 12 Months |  | 12 Months or Longer |  | Total
​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | ​ | ​ | ​ | ​ | ​ | Gross
​ | ​ | ​ | ​ | ​ | ​ | Unrealized | ​ | ​ | ​ | ​ | ​ | Unrealized | ​ | ​ | ​ | ​ | ​ | Unrealized
(000’s omitted) |  | # |  | Fair Value |  | Losses |  | # |  | Fair Value |  | Losses |  | # |  | Fair Value |  | Losses
Available-for-Sale Portfolio: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ |  | ​ | ​ |  | ​ | ​ |
U.S. Treasury and agency securities | ​ | 47 | ​ | $ | 1,224,101 | ​ | $ | 14,873 | ​ | 13 | ​ | $ | 900,462 | ​ | $ | 91,184 | ​ | 60 | ​ | $ | 2,124,563 | ​ | $ | 106,057
Obligations of state and political subdivisions | ​ | 27 | ​ |  | 23,966 | ​ |  | 56 | ​ | 0 | ​ |  | 0 | ​ |  | 0 | ​ | 27 | ​ |  | 23,966 | ​ |  | 56
Government agency mortgage-backed securities | ​ | 147 | ​ |  | 139,442 | ​ |  | 2,475 | ​ | 52 | ​ |  | 67,273 | ​ |  | 2,590 | ​ | 199 | ​ |  | 206,715 | ​ |  | 5,065
Corporate debt securities | ​ | 1 | ​ | ​ | 4,923 | ​ | ​ | 77 | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 0 | ​ | 1 | ​ | ​ | 4,923 | ​ | ​ | 77
Government agency collateralized mortgage obligations | ​ | 18 | ​ |  | 3,146 | ​ |  | 24 | ​ | 1 | ​ |  | 53 | ​ |  | 0 | ​ | 19 | ​ |  | 3,199 | ​ |  | 24
Total available-for-sale investment portfolio | ​ | 240 | ​ | $ | 1,395,578 | ​ | $ | 17,505 | ​ | 66 | ​ | $ | 967,788 | ​ | $ | 93,774 | ​ | 306 | ​ | $ | 2,363,366 | ​ | $ | 111,279
​
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 March 31, 2022, 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, including government agency mortgage-backed securities and government agency collateralized mortgage obligations, are shown separately. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Available-for-Sale
​ | ​ | Amortized | ​ | ​
(000’s omitted) |  | Cost |  | Fair Value
Due in one year or less | ​ | $ | 152,902 | ​ | $ | 153,690
Due after one through five years | ​ |  | 1,801,393 | ​ |  | 1,757,237
Due after five years through ten years | ​ |  | 2,163,695 | ​ |  | 2,038,048
Due after ten years | ​ |  | 1,579,600 | ​ |  | 1,366,764
Subtotal | ​ |  | 5,697,590 | ​ |  | 5,315,739
Government agency mortgage-backed securities | ​ |  | 476,790 | ​ |  | 454,247
Government agency collateralized mortgage obligations | ​ |  | 17,429 | ​ |  | 17,172
Total | ​ | $ | 6,191,809 | ​ | $ | 5,787,158

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- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123581744&loc=d3e27290-111563 + Details
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