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PARENT COMPANY STATEMENTS (Tables) | 12 Months Ended
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Dec. 31, 2022
PARENT COMPANY STATEMENTS |
Condensed Statements of Condition of Parent Company | 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
​
Condensed Statements of Income of Parent Company | 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
​
Statements of Cash Flows of Parent Company | 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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