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PARENT COMPANY STATEMENTS | 12 Months Ended
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Dec. 31, 2022
PARENT COMPANY STATEMENTS |
PARENT COMPANY STATEMENTS | NOTE Q: PARENT COMPANY STATEMENTS The condensed statements of condition of the parent company, Community Bank System, Inc., at December 31 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(000's omitted) |  | 2022 |  | 2021
Assets: |  | ​ |  |  | ​ |
Cash and cash equivalents | ​ | $ | 160,045 | ​ | $ | 154,374
Investment securities | ​ |  | 7,881 | ​ |  | 8,679
Investment in and advances to: | ​ |  | ​ | ​ |  | ​
Bank subsidiary | ​ |  | 1,194,314 | ​ |  | 1,721,520
Non-bank subsidiaries | ​ |  | 207,172 | ​ |  | 232,096
Other assets | ​ |  | 17,106 | ​ |  | 18,462
Total assets | ​ | $ | 1,586,518 | ​ | $ | 2,135,131
​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities and shareholders' equity: | ​ |  | ​ | ​ |  | ​
Accrued interest and other liabilities | ​ | $ | 31,564 | ​ | $ | 31,047
Borrowings | ​ |  | 3,249 | ​ |  | 3,277
Shareholders' equity | ​ |  | 1,551,705 | ​ |  | 2,100,807
Total liabilities and shareholders' equity | ​ | $ | 1,586,518 | ​ | $ | 2,135,131
​ The condensed statements of income of the parent company for the years ended December 31 is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(000's omitted) |  | 2022 |  | 2021 |  | 2020
Revenues: |  | ​ |  |  | ​ |  |  | ​ |
Dividends from subsidiaries: |  | ​ |  |  | ​ |  |  | ​ |
Bank subsidiary | ​ | $ | 53,000 | ​ | $ | 125,000 | ​ | $ | 105,000
Non-bank subsidiaries | ​ |  | 55,000 | ​ |  | 14,000 | ​ |  | 13,500
Interest and dividends on investments | ​ |  | 342 | ​ |  | 245 | ​ |  | 168
Total revenues | ​ |  | 108,342 | ​ |  | 139,245 | ​ |  | 118,668
Expenses: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Interest on borrowings | ​ |  | 153 | ​ |  | 446 | ​ |  | 2,546
Acquisition expenses | ​ |  | 0 | ​ |  | 0 | ​ |  | 450
Gain on debt extinguishment | ​ |  | 0 | ​ |  | 0 | ​ |  | (421)
Other expenses | ​ |  | 6,091 | ​ |  | 5,717 | ​ |  | 4,945
Total expenses | ​ |  | 6,244 | ​ |  | 6,163 | ​ |  | 7,520
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income before tax benefit and equity in undistributed net income of subsidiaries | ​ |  | 102,098 | ​ |  | 133,082 | ​ |  | 111,148
Income tax benefit | ​ |  | 2,942 | ​ |  | 3,964 | ​ |  | 3,739
Income before equity in undistributed net income of subsidiaries | ​ |  | 105,040 | ​ |  | 137,046 | ​ |  | 114,887
Equity in undistributed net income of subsidiaries | ​ |  | 83,041 | ​ |  | 52,648 | ​ |  | 49,789
Net income | ​ | $ | 188,081 | ​ | $ | 189,694 | ​ | $ | 164,676
Other comprehensive (loss) income, net of tax: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Changes in other comprehensive (loss) income related to pension and other post retirement obligations | ​ |  | (15,831) | ​ |  | 13,403 | ​ |  | 6,009
Changes in other comprehensive (loss) income related to unrealized (losses) gains on investment securities | ​ |  | (619,981) | ​ |  | (126,107) | ​ |  | 66,294
Other comprehensive (loss) income | ​ |  | (635,812) | ​ |  | (112,704) | ​ |  | 72,303
Comprehensive (loss) income | ​ | $ | (447,731) | ​ | $ | 76,990 | ​ | $ | 236,979
​ The statements of cash flows of the parent company for the years ended December 31 is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(000's omitted) |  | 2022 |  | 2021 |  | 2020
Operating activities: |  | ​ |  |  | ​ |  |  | ​ |
Net income | ​ | $ | 188,081 | ​ | $ | 189,694 | ​ | $ | 164,676
Adjustments to reconcile net income to net cash provided by operating activities | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Equity in undistributed net income of subsidiaries | ​ |  | (83,041) | ​ |  | (52,648) | ​ |  | (49,789)
Net change in other assets and other liabilities | ​ |  | 2,155 | ​ |  | (3,050) | ​ |  | 1,740
Net cash provided by operating activities | ​ |  | 107,195 | ​ |  | 133,996 | ​ |  | 116,627
Investing activities: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Purchases of investment securities | ​ | ​ | (175) | ​ | ​ | (5,173) | ​ | ​ | (3,000)
Cash paid for acquisitions, net of cash acquired of $0, $0, and $448, respectively | ​ |  | 0 | ​ |  | 0 | ​ |  | (20,892)
(Capital contributions to)/Return of capital from | ​ |  | 0 | ​ |  | (12,918) | ​ |  | 2
Net cash used in investing activities | ​ |  | (175) | ​ |  | (18,091) | ​ |  | (23,890)
Financing activities: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Repayment of advances from subsidiaries | ​ |  | (506) | ​ |  | (482) | ​ |  | (482)
Repayment of borrowings | ​ |  | 0 | ​ |  | (77,320) | ​ |  | (12,062)
Issuance of common stock | ​ |  | 8,922 | ​ |  | 16,155 | ​ |  | 22,211
Purchase of treasury stock | ​ |  | (16,614) | ​ |  | (5,106) | ​ |  | (271)
Sale of treasury stock | ​ |  | 0 | ​ |  | 0 | ​ |  | 85
Increase in deferred compensation arrangements | ​ |  | 236 | ​ |  | 252 | ​ |  | 271
Cash dividends paid | ​ |  | (93,387) | ​ |  | (91,051) | ​ |  | (87,131)
Net cash used in financing activities | ​ |  | (101,349) | ​ |  | (157,552) | ​ |  | (77,379)
Change in cash and cash equivalents | ​ |  | 5,671 | ​ |  | (41,647) | ​ |  | 15,358
Cash and cash equivalents at beginning of year | ​ |  | 154,374 | ​ |  | 196,021 | ​ |  | 180,663
Cash and cash equivalents at end of year | ​ | $ | 160,045 | ​ | $ | 154,374 | ​ | $ | 196,021
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Supplemental disclosures of cash flow information: | ​ |  |  | ​ |  |  | ​ |  | ​
Cash paid for interest | ​ | $ | 180 | ​ | $ | 560 | ​ | $ | 2,555
Supplemental disclosures of noncash financing activities: | ​ |  |  | ​ |  |  | ​ |  |
Dividends declared and unpaid | ​ | $ | 23,763 | ​ | $ | 23,235 | ​ | $ | 22,695
Advances from subsidiaries | ​ |  | 506 | ​ |  | 482 | ​ |  | 932
Common stock issued for acquisition | ​ |  | 0 | ​ |  | 0 | ​ |  | 76,942
​

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI https://asc.fasb.org/extlink&oid=126898705&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI https://asc.fasb.org/extlink&oid=126929396&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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