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ACQUISITIONS (Tables)

6 Months Ended

Jun. 30, 2022

ACQUISITIONS

Schedule of estimated fair value of assets acquired and liabilities assumed

The following table summarizes the estimated fair value of the assets acquired and liabilities assumed:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

2022

​

2021

(000s omitted)

Elmira

​

Other(1)

​

Total

TGA

FBD

NuVantage

Total

Consideration:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Cash

​

$

82,179

​

$

2,464

​

$

84,643

​

$

11,620

​

$

15,350

​

$

2,900

​

$

29,870

Contingent consideration

​

​

0

​

​

0

​

​

0

​

​

1,500

​

​

1,400

​

​

0

​

​

2,900

Total net consideration

​

​

82,179

​

​

2,464

​

​

84,643

​

​

13,120

​

16,750

​

2,900

​

32,770

Recognized amounts of identifiable assets acquired and liabilities assumed:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Cash and cash equivalents

​

​

84,988

​

​

0

​

​

84,988

​

​

0

​

541

​

0

​

541

Investment securities

​

​

11,305

​

​

0

​

​

11,305

​

​

0

​

0

​

0

​

0

Loans, net of allowance for credit losses on PCD loans

​

​

436,948

​

​

0

​

​

436,948

​

​

0

​

0

​

0

​

0

Premises and equipment, net

​

​

12,317

​

​

0

​

​

12,317

​

​

279

​

282

​

199

​

760

Accrued interest and fees receivable

​

​

884

​

​

0

​

​

884

​

​

0

​

0

​

0

​

0

Other assets

​

​

21,984

​

​

0

​

​

21,984

​

​

0

​

579

​

0

​

579

Core deposit intangibles

​

​

7,970

​

​

0

​

​

7,970

​

​

0

​

0

​

0

​

0

Other intangibles

​

​

0

​

​

2,464

​

​

2,464

​

​

10,900

​

14,000

​

1,437

​

26,337

Deposits

​

​

(522,295)

​

​

0

​

​

(522,295)

​

​

0

​

0

​

0

​

0

Other liabilities

​

​

(5,039)

​

​

0

​

​

(5,039)

​

​

(229)

​

(669)

​

(174)

​

(1,072)

Other Federal Home Loan Bank borrowings

​

​

(17,616)

​

​

0

​

​

(17,616)

​

​

0

​

0

​

0

​

0

Total identifiable assets, net

​

​

31,446

​

​

2,464

​

​

33,910

​

​

10,950

​

14,733

​

1,462

​

27,145

Goodwill

​

$

50,733

​

$

0

​

$

50,733

​

$

2,170

​

$

2,017

​

$

1,438

​

$

5,625

(1) Includes amounts for all OneGroup acquisitions completed in 2022.

Schedule of loans acquired

​

​	​	​	​
(000s omitted)		PCD Loans
Par value of PCD loans at acquisition	​	$	2,184
Allowance for credit losses at acquisition	​		(71)
Non-credit discount at acquisition	​		(81)
Fair value of PCD loans at acquisition	​	$	2,032

​

Schedule of pro forma financial information

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Pro Forma (Unaudited)

Pro Forma (Unaudited)

​

​

Three Months Ended

​

Six Months Ended

(000’s omitted)

​

June 30, 2022

​

June 30, 2021

​

June 30, 2022

​

June 30, 2021

Total revenue, net of interest expense

​

$

170,242

​

$

157,683

​

$

337,102

​

$

317,040

Net income

​

43,426

​

49,338

​

92,021

​

100,014

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Tabular disclosure regarding loans acquired during the period.

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- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472

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