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ACQUISITIONS (Tables) | 9 Months Ended
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Sep. 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 | ​ | $ | 6,482 | ​ | $ | 8,301 | ​ | $ | 82,179 | ​ | $ | 3,477 | ​ | $ | 85,656
Contingent consideration | ​ | ​ | 0 | ​ | ​ | 1,450 | ​ | ​ | 1,450 | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 0
Total net consideration | ​ | ​ | 1,819 | ​ | ​ | 7,932 | ​ | ​ | 9,751 | ​ | ​ | 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 | ​ | ​ | 41 | ​ | ​ | 66 | ​ |  | 11,303 | ​ |  | 14 | ​ |  | 11,317
Accrued interest and fees receivable | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 0 | ​ |  | 882 | ​ |  | 0 | ​ |  | 882
Other assets | ​ | ​ | 2 | ​ | ​ | 175 | ​ | ​ | 177 | ​ |  | 30,337 | ​ |  | 0 | ​ |  | 30,337
Core deposit intangibles | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 0 | ​ |  | 7,970 | ​ |  | 0 | ​ |  | 7,970
Other intangibles | ​ | ​ | 1,176 | ​ | ​ | 4,714 | ​ | ​ | 5,890 | ​ |  | 0 | ​ |  | 3,014 | ​ |  | 3,014
Deposits | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 0 | ​ |  | (522,295) | ​ |  | 0 | ​ |  | (522,295)
Other liabilities | ​ | ​ | (9) | ​ | ​ | (9) | ​ | ​ | (18) | ​ |  | (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 | ​ | ​ | 4,921 | ​ | ​ | 6,115 | ​ |  | 40,074 | ​ |  | 2,994 | ​ |  | 43,068
Goodwill | ​ | $ | 625 | ​ | $ | 3,011 | ​ | $ | 3,636 | ​ | $ | 42,105 | ​ | $ | 483 | ​ | $ | 42,588
(1) | Includes amounts for four OneGroup acquisitions and one Wealth Partners acquisition completed in 2023.
(2) | Includes amounts for four 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 | ​ | Nine Months Ended
(000’s omitted) |  | September 30, 2022 |  | September 30, 2022
Total revenue, net of interest expense | ​ | $ | 175,595 | ​ | $ | 512,687
Net income | ​ |  | 49,016 | ​ |  | 141,138
​

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
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