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ACQUISITIONS (Tables) | 12 Months Ended
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Dec. 31, 2022
ACQUISITIONS |
Schedule of estimated fair value of assets acquired and liabilities assumed | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | 2022 | ​ | 2021 | ​ | 2020
(000s omitted) | Elmira |  | Other (1) |  | Total | ​ | ​ | Total (2) | Steuben
Consideration: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |
Cash | $ | 82,179 | ​ | $ | 3,477 | ​ | $ | 85,656 | ​ | $ | 29,870 | ​ | $ | 21,613
Community Bank System, Inc. common stock |  | 0 | ​ |  | 0 | ​ |  | 0 | ​ | ​ | 0 | ​ |  | 76,942
Contingent consideration | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 2,900 | ​ | ​ | 0
Total net consideration |  | 82,179 | ​ |  | 3,477 | ​ |  | 85,656 | ​ | ​ | 32,770 | ​ |  | 98,555
Recognized amounts of identifiable assets acquired and liabilities assumed: |  |  | ​ |  |  | ​ |  |  | ​ | ​ | ​ | ​ |  |
Cash and cash equivalents |  | 84,988 | ​ |  | 0 | ​ |  | 84,988 | ​ | ​ | 541 | ​ |  | 55,973
Investment securities |  | 11,305 | ​ |  | 0 | ​ |  | 11,305 | ​ | ​ | 0 | ​ |  | 180,497
Loans, net of allowance for credit losses on PCD loans |  | 436,954 | ​ |  | 0 | ​ |  | 436,954 | ​ | ​ | 0 | ​ |  | 339,017
Premises and equipment, net |  | 11,303 | ​ |  | 14 | ​ |  | 11,317 | ​ | ​ | 760 | ​ |  | 7,764
Accrued interest and fees receivable |  | 884 | ​ |  | 0 | ​ |  | 884 | ​ | ​ | 0 | ​ |  | 2,701
Other assets |  | 30,007 | ​ |  | 0 | ​ |  | 30,007 | ​ | ​ | 579 | ​ |  | 17,675
Core deposit intangibles |  | 7,970 | ​ |  | 0 | ​ |  | 7,970 | ​ | ​ | 0 | ​ |  | 2,928
Other intangibles |  | 0 | ​ |  | 3,014 | ​ |  | 3,014 | ​ | ​ | 26,337 | ​ |  | 1,196
Deposits |  | (522,295) | ​ |  | 0 | ​ |  | (522,295) | ​ | ​ | 0 | ​ |  | (516,274)
Other liabilities |  | (3,541) | ​ |  | 0 | ​ |  | (3,541) | ​ | ​ | (1,164) | ​ |  | (4,841)
Other Federal Home Loan Bank borrowings |  | (17,616) | ​ |  | 0 | ​ |  | (17,616) | ​ | ​ | 0 | ​ |  | (6,000)
Subordinated debt held by unconsolidated subsidiary trusts |  | 0 | ​ |  | 0 | ​ |  | 0 | ​ | ​ | 0 | ​ |  | (2,062)
Total identifiable assets, net |  | 39,959 | ​ |  | 3,028 | ​ |  | 42,987 | ​ | ​ | 27,053 | ​ |  | 78,574
Goodwill | $ | 42,220 | ​ | $ | 449 | ​ | $ | 42,669 | ​ | $ | 5,717 | ​ | $ | 19,981
​
(1) | Includes amounts for all OneGroup acquisitions completed in 2022.
(2) | Includes amounts for TGA, FBD, and NuVantage acquisitions completed in 2021.
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
​ ​
​ | ​ | ​ | ​
(000s omitted) |  | PCD Loans
Par value of PCD loans at acquisition | ​ | $ | 35,906
Allowance for credit losses at acquisition | ​ | ​ | (668)
Non-credit premium at acquisition | ​ | ​ | 103
Fair value of PCD loans at acquisition | ​ | $ | 35,341
​
Schedule of pro forma financial information | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Pro Forma (Unaudited)
​ | ​ | Year Ended December 31,
(000s omitted) |  | 2022 |  | 2021 |  | 2020
Total revenue, net of interest expense | ​ | $ | 687,976 | ​ | $ | 646,375 | ​ | $ | 607,382
Net income | ​ |  | 193,417 | ​ |  | 191,450 | ​ |  | 171,147

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