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FAIR VALUE (Tables) | 12 Months Ended
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Dec. 31, 2022
FAIR VALUE |
Fair Value Measured on a Recurring Basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Total Fair
(000’s omitted) |  | Level 1 |  | Level 2 |  | Level 3 |  | Value
Available-for-sale investment securities: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S. Treasury and agency securities | ​ | $ | 3,178,189 | ​ | $ | 65,348 | ​ | $ | 0 | ​ | $ | 3,243,537
Obligations of state and political subdivisions | ​ |  | 0 | ​ |  | 504,297 | ​ |  | 0 | ​ |  | 504,297
Government agency mortgage-backed securities | ​ |  | 0 | ​ |  | 384,633 | ​ |  | 0 | ​ |  | 384,633
Corporate debt securities | ​ |  | 0 | ​ |  | 7,114 | ​ |  | 0 | ​ |  | 7,114
Government agency collateralized mortgage obligations | ​ |  | 0 | ​ |  | 12,270 | ​ |  | 0 | ​ |  | 12,270
Total available-for-sale investment securities | ​ |  | 3,178,189 | ​ |  | 973,662 | ​ |  | 0 | ​ |  | 4,151,851
Equity securities | ​ |  | 419 | ​ |  | 0 | ​ |  | 0 | ​ |  | 419
Commitments to originate real estate loans for sale | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 5 | ​ | ​ | 5
Forward sales commitments | ​ | ​ | 0 | ​ | ​ | 5 | ​ | ​ | 0 | ​ | ​ | 5
Interest rate swap agreements asset | ​ |  | 0 | ​ |  | 1 | ​ |  | 0 | ​ |  | 1
Interest rate swap agreements liability | ​ |  | 0 | ​ |  | (1) | ​ |  | 0 | ​ |  | (1)
Total | ​ | $ | 3,178,608 | ​ | $ | 973,667 | ​ | $ | 5 | ​ | $ | 4,152,280
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Total Fair
(000’s omitted) |  | Level 1 |  | Level 2 |  | Level 3 |  | Value
Available-for-sale investment securities: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S. Treasury and agency securities | ​ | $ | 3,900,924 | ​ | $ | 97,640 | ​ | $ | 0 | ​ | $ | 3,998,564
Obligations of state and political subdivisions | ​ |  | 0 | ​ |  | 430,289 | ​ |  | 0 | ​ |  | 430,289
Government agency mortgage-backed securities | ​ |  | 0 | ​ |  | 477,056 | ​ |  | 0 | ​ |  | 477,056
Corporate debt securities | ​ |  | 0 | ​ |  | 7,962 | ​ |  | 0 | ​ |  | 7,962
Government agency collateralized mortgage obligations | ​ |  | 0 | ​ |  | 20,339 | ​ |  | 0 | ​ |  | 20,339
Total available-for-sale investment securities | ​ |  | 3,900,924 | ​ |  | 1,033,286 | ​ |  | 0 | ​ |  | 4,934,210
Equity securities | ​ |  | 463 | ​ |  | 0 | ​ |  | 0 | ​ |  | 463
Commitments to originate real estate loans for sale | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 51 | ​ | ​ | 51
Forward sales commitments | ​ | ​ | 0 | ​ | ​ | 32 | ​ | ​ | 0 | ​ | ​ | 32
Interest rate swap agreements asset | ​ |  | 0 | ​ |  | 296 | ​ |  | 0 | ​ |  | 296
Interest rate swap agreements liability | ​ |  | 0 | ​ |  | (3) | ​ | ​ | 0 | ​ |  | (3)
Total | ​ | $ | 3,901,387 | ​ | $ | 1,033,611 | ​ | $ | 51 | ​ | $ | 4,935,049
​
Assets and Liabilities Measured on a Non-Recurring Basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022 | ​ | December 31, 2021
​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | ​ | Total Fair |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | Total Fair
(000's omitted) | ​ | Level 1 | ​ | Level 2 | ​ | Level 3 | ​ | Value | ​ | Level 1 | ​ | Level 2 | ​ | Level 3 | ​ | Value
Individually assessed loans | ​ | $ | 0 | ​ | $ | 0 | ​ | $ | 0 |  | $ | 0 | ​ | $ | 0 | ​ | $ | 0 | ​ | $ | 1,820 |  | $ | 1,820
Other real estate owned | ​ |  | 0 | ​ |  | 0 | ​ |  | 503 |  |  | 503 | ​ |  | 0 | ​ |  | 0 | ​ |  | 718 |  |  | 718
Mortgage servicing rights | ​ |  | 0 | ​ |  | 0 | ​ |  | 1,169 |  |  | 1,169 | ​ |  | 0 | ​ |  | 0 | ​ |  | 810 |  |  | 810
Contingent consideration | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | (2,800) | ​ | ​ | (2,800) | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | (3,100) | ​ | ​ | (3,100)
Total | ​ | $ | 0 | ​ | $ | 0 | ​ | $ | (1,128) |  | $ | (1,128) | ​ | $ | 0 | ​ | $ | 0 | ​ | $ | 248 |  | $ | 248
​
Significant Unobservable Inputs, Fair Value Valuation Techniques | The significant unobservable inputs used in the determination of fair value of assets classified as Level 3 on a recurring or non-recurring basis as of December 31, 2022 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ |  | Significant |  | Significant Unobservable |
​ | ​ | ​ | ​ | ​ | Valuation | ​ | Unobservable | ​ | Input Range |
(000's omitted, except per loan data) | ​ | Fair Value | ​ | Technique | ​ | Inputs | ​ | (Weighted Average) |
Other real estate owned | ​ | $ | 503 |  | Fair value of collateral |  | Estimated cost of disposal/market adjustment |  | ​ | 9.0% - 72.8% (35.7%) | ​
Commitments to originate real estate loans for sale | ​ | ​ | 5 | ​ | Discounted cash flow | ​ | Embedded servicing value | ​ | ​ | 1.0 | %
Mortgage servicing rights | ​ |  | 1,169 |  | Discounted cash flow |  | Weighted average constant prepayment rate |  | ​ | 2.9% - 3.3% (2.9%) | ​
​ | ​ | ​ | ​ | ​ | ​ |  | Weighted average discount rate |  | ​ | 4.6% - 4.9% (4.9%) | ​
​ | ​ | ​ | ​ | ​ | ​ |  | Adequate compensation | ​ | ​ | $7/loan | ​
Contingent consideration | ​ | ​ | (2,800) | ​ | Discounted cash flow | ​ | Discount rate | ​ | ​ | 5.9% - 6.2% (6.1%) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Probability adjusted level of retained revenue | ​ | ​ | $3.1 million - $5.1 million | ​
​ The significant unobservable inputs used in the determination of fair value of assets classified as Level 3 on a recurring or non-recurring basis as of December 31, 2021 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ |  | Significant |  | Significant Unobservable |
​ | ​ | ​ | ​ | ​ | Valuation | ​ | Unobservable | ​ | Input Range |
(000's omitted, except per loan data) | ​ | Fair Value | ​ | Technique | ​ | Inputs | ​ | (Weighted Average) |
Individually assessed loans | ​ | $ | 1,820 |  | Fair value of collateral |  | Estimated cost of disposal/market adjustment |  | ​ | 9.0% - 43.1% (43.1%) | ​
Other real estate owned | ​ |  | 718 |  | Fair value of collateral |  | Estimated cost of disposal/market adjustment |  | ​ | 31.8% - 42.3% (33.3%) | ​
Commitments to originate real estate loans for sale | ​ | ​ | 51 | ​ | Discounted cash flow | ​ | Embedded servicing value | ​ | ​ | 1.0 | %
Mortgage servicing rights | ​ |  | 810 |  | Discounted cash flow |  | Weighted average constant prepayment rate |  | ​ | 6.4% - 15.2% (14.0%) | ​
​ | ​ | ​ | ​ | ​ | ​ |  | Weighted average discount rate |  | ​ | 2.3% - 2.7% (2.6%) | ​
​ | ​ | ​ | ​ | ​ | ​ |  | Adequate compensation | ​ | ​ | $7/loan | ​
Contingent consideration | ​ | ​ | (3,100) | ​ | Discounted cash flow | ​ | Discount rate | ​ | ​ | 1.4% - 1.7% (1.5%) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Probability adjusted level of retained revenue | ​ | ​ | $3.0 million - $5.8 million | ​
​
Carrying Amounts and Estimated Fair Values of Other Financial Instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022 | ​ | December 31, 2021
​ |  | Carrying |  | ​ |  | Carrying |  | ​
(000’s omitted) | ​ | Value | ​ | Fair Value | ​ | Value | ​ | Fair Value
Financial assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Net loans | ​ | $ | 8,748,335 | ​ | $ | 8,696,185 | ​ | $ | 7,323,770 | ​ | $ | 7,523,024
Held-to-maturity securities | ​ | ​ | 1,079,695 | ​ | ​ | 1,034,795 | ​ | ​ | 0 | ​ | ​ | 0
Financial liabilities: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Deposits | ​ |  | 13,012,308 | ​ |  | 12,981,487 | ​ |  | 12,911,168 | ​ |  | 12,911,197
Overnight borrowings | ​ |  | 768,400 | ​ |  | 768,400 | ​ |  | 0 | ​ |  | 0
Securities sold under agreement to repurchase, short-term | ​ |  | 346,652 | ​ |  | 346,652 | ​ |  | 324,720 | ​ |  | 324,720
Other Federal Home Loan Bank borrowings | ​ |  | 19,474 | ​ |  | 19,377 | ​ |  | 1,888 | ​ |  | 1,907
Subordinated notes payable | ​ |  | 3,249 | ​ |  | 3,249 | ​ |  | 3,277 | ​ |  | 3,277
​

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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