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ACQUISITIONS (Tables) | 6 Months Ended
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Jun. 30, 2023
ACQUISITIONS |
Summary of the estimated fair value of assets acquired and liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2023 | ​ | 2022
(000s omitted) |  | Axiom |  | Other(1) | ​ | Total |  | Elmira |  | Other(2) |  | Total
Consideration: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  |  | ​ |
Cash | ​ | $ | 1,819 | ​ | $ | 4,557 | ​ | $ | 6,376 | ​ | $ | 82,179 | ​ | $ | 3,477 | ​ | $ | 85,656
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Recognized amounts of identifiable assets acquired and liabilities assumed: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Cash and cash equivalents | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 0 | ​ |  | 84,988 | ​ |  | 0 | ​ |  | 84,988
Investment securities | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 0 | ​ |  | 11,305 | ​ |  | 0 | ​ |  | 11,305
Loans, net of allowance for credit losses on PCD loans | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 0 | ​ |  | 436,796 | ​ |  | 0 | ​ |  | 436,796
Premises and equipment, net | ​ | ​ | 25 | ​ | ​ | 33 | ​ | ​ | 58 | ​ |  | 11,303 | ​ |  | 14 | ​ |  | 11,317
Accrued interest and fees receivable | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 0 | ​ |  | 882 | ​ |  | 0 | ​ |  | 882
Other assets | ​ | ​ | 2 | ​ | ​ | 0 | ​ | ​ | 2 | ​ |  | 30,337 | ​ |  | 0 | ​ |  | 30,337
Core deposit intangibles | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 0 | ​ |  | 7,970 | ​ |  | 0 | ​ |  | 7,970
Other intangibles | ​ | ​ | 1,176 | ​ | ​ | 2,949 | ​ | ​ | 4,125 | ​ |  | 0 | ​ |  | 3,014 | ​ |  | 3,014
Deposits | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 0 | ​ |  | (522,295) | ​ |  | 0 | ​ |  | (522,295)
Other liabilities | ​ | ​ | (9) | ​ | ​ | 0 | ​ | ​ | (9) | ​ |  | (3,596) | ​ |  | (34) | ​ |  | (3,630)
Other Federal Home Loan Bank borrowings | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 0 | ​ |  | (17,616) | ​ |  | 0 | ​ |  | (17,616)
Total identifiable assets, net | ​ | ​ | 1,194 | ​ | ​ | 2,982 | ​ | ​ | 4,176 | ​ |  | 40,074 | ​ |  | 2,994 | ​ |  | 43,068
Goodwill | ​ | $ | 625 | ​ | $ | 1,575 | ​ | $ | 2,200 | ​ | $ | 42,105 | ​ | $ | 483 | ​ | $ | 42,588
(1) | Includes amounts for all OneGroup acquisitions completed in 2023, including immaterial acquisitions not described above.
(2) | 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)
​ | ​ | Three Months Ended | ​ | Six Months Ended
(000’s omitted) |  | June 30, 2022 |  | June 30, 2022
Total revenue, net of interest expense | ​ | $ | 170,242 | ​ | $ | 337,102
Net income | ​ |  | 43,426 | ​ |  | 92,021

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