XML 40 R29.htm IDEA: XBRL DOCUMENT
v3.23.2

FAIR VALUE (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2023
FAIR VALUE |
Schedule of fair value measured on a recurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2023
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Total Fair
(000’s omitted) |  | Level 1 |  | Level 2 |  | Level 3 |  | Value
Available-for-sale investment securities: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S. Treasury and agency securities | ​ | $ | 2,125,720 | ​ | $ | 64,125 | ​ | $ | 0 | ​ | $ | 2,189,845
Obligations of state and political subdivisions | ​ |  | 0 | ​ |  | 491,963 | ​ |  | 0 | ​ |  | 491,963
Government agency mortgage-backed securities | ​ |  | 0 | ​ |  | 365,506 | ​ |  | 0 | ​ |  | 365,506
Corporate debt securities | ​ |  | 0 | ​ |  | 7,097 | ​ |  | 0 | ​ |  | 7,097
Government agency collateralized mortgage obligations | ​ |  | 0 | ​ |  | 10,459 | ​ |  | 0 | ​ |  | 10,459
Total available-for-sale investment securities | ​ |  | 2,125,720 | ​ |  | 939,150 | ​ |  | 0 | ​ |  | 3,064,870
Equity securities | ​ |  | 369 | ​ |  | 0 | ​ |  | 0 | ​ |  | 369
Mortgage loans held for sale | ​ | ​ | 0 | ​ | ​ | 1,401 | ​ | ​ | 0 | ​ | ​ | 1,401
Commitments to originate real estate loans for sale | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 18 | ​ | ​ | 18
Forward sales commitments | ​ | ​ | 0 | ​ | ​ | 21 | ​ | ​ | 0 | ​ | ​ | 21
Total | ​ | $ | 2,126,089 | ​ | $ | 940,572 | ​ | $ | 18 | ​ | $ | 3,066,679
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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
Schedule of assets and liabilities measured on a non-recurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2023 | ​ | December 31, 2022
​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | ​ | Total Fair |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | Total Fair
(000’s omitted) | ​ | Level 1 | ​ | Level 2 | ​ | Level 3 | ​ | Value | ​ | Level 1 | ​ | Level 2 | ​ | Level 3 | ​ | Value
Other real estate owned | ​ | $ | 0 | ​ | $ | 0 | ​ | $ | 623 |  | $ | 623 | ​ | $ | 0 | ​ | $ | 0 | ​ | $ | 503 |  | $ | 503
Mortgage servicing rights | ​ |  | 0 | ​ |  | 0 | ​ |  | 608 |  |  | 608 | ​ |  | 0 | ​ |  | 0 | ​ |  | 1,169 |  |  | 1,169
Contingent consideration | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | (3,800) | ​ | ​ | (3,800) | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | (2,800) | ​ | ​ | (2,800)
Total | ​ | $ | 0 | ​ | $ | 0 | ​ | $ | (2,569) |  | $ | (2,569) | ​ | $ | 0 | ​ | $ | 0 | ​ | $ | (1,128) |  | $ | (1,128)
Schedule of significant unobservable inputs, fair value valuation techniques | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | ​ |  | ​ |  | Significant Unobservable |
​ | ​ | Fair Value at | ​ | ​ | ​ | ​ | ​ | Input Range | ​
(000’s omitted, except per loan data) | ​ | June 30, 2023 | ​ | Valuation Technique | ​ | Significant Unobservable Inputs |  | (Weighted Average) | ​
Other real estate owned | ​ | $ | 623 |  | Fair value of collateral |  | Estimated cost of disposal/market adjustment |  | ​ | 9.0% – 75.1% (47.3%) | ​
Commitments to originate real estate loans for sale | ​ |  | 18 |  | Discounted cash flow |  | Embedded servicing value |  | ​ | 1.0 | %
Mortgage servicing rights | ​ |  | 608 |  | Discounted cash flow |  | Weighted average constant prepayment rate |  | ​ | 4.8% - 5.0% (4.8%) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted average discount rate | ​ | ​ | 4.6% - 4.8% (4.8%) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Adequate compensation | ​ | $ | 7/loan | ​
Contingent consideration | ​ | ​ | (3,800) | ​ | Discounted cash flow | ​ | Discount rate | ​ | ​ | 6.7% - 6.9% (6.9%) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Probability adjusted level of retained revenue | ​ | ​ | $3.3 million - $4.7 million | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Significant Unobservable | ​
​ | ​ | Fair Value at | ​ | ​ | ​ | ​ | ​ | Input Range | ​
(000's omitted, except per loan data) | ​ | December 31, 2022 | ​ | Valuation Technique | ​ | Significant Unobservable 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 | ​
​
Schedule of carrying amounts and estimated fair values of other financial instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2023 | ​ | December 31, 2022
​ |  | Carrying |  | Fair |  | Carrying |  | Fair
(000’s omitted) | ​ | Value | ​ | Value | ​ | Value | ​ | Value
Financial assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Net loans | ​ | $ | 9,107,485 | ​ | $ | 8,886,977 | ​ | $ | 8,748,335 | ​ | $ | 8,696,185
Held-to-maturity securities | ​ | ​ | 1,104,020 | ​ | ​ | 1,063,444 | ​ | ​ | 1,079,695 | ​ | ​ | 1,034,795
Financial liabilities: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Deposits | ​ |  | 12,871,786 | ​ |  | 12,838,912 | ​ |  | 13,012,308 | ​ |  | 12,981,487
Overnight borrowings | ​ |  | 234,000 | ​ |  | 234,000 | ​ |  | 768,400 | ​ |  | 768,400
Securities sold under agreement to repurchase, short-term | ​ |  | 233,469 | ​ |  | 233,469 | ​ |  | 346,652 | ​ |  | 346,652
Other Federal Home Loan Bank borrowings | ​ |  | 17,284 | ​ |  | 17,037 | ​ |  | 19,474 | ​ |  | 19,377
Subordinated notes payable | ​ |  | 0 | ​ |  | 0 | ​ |  | 3,249 | ​ |  | 3,249

X
- 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 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique used to measure similar asset in prior period by class of asset or liability on non-recurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisValuationTechniquesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-11 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration