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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2023
INCOME TAXES |
Schedule of provision for income taxes | The provision for income taxes for the years ended December 31 is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(000’s omitted) |  | 2023 |  | 2022 |  | 2021
Current: |  | ​ |  |  | ​ |  |  | ​ |
Federal | ​ | $ | 36,617 | ​ | $ | 41,025 | ​ | $ | 35,507
State and other | ​ |  | 7,193 | ​ |  | 9,899 | ​ |  | 8,158
Deferred: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Federal | ​ |  | (4,877) | ​ |  | 1,163 | ​ |  | 5,493
State and other | ​ |  | (2,626) | ​ |  | 146 | ​ |  | 2,496
Provision for income taxes | ​ | $ | 36,307 | ​ | $ | 52,233 | ​ | $ | 51,654
​
Schedule of net deferred tax liability | Components of the net deferred tax asset, included in other assets, as of December 31, 2023 and 2022 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(000’s omitted) |  | 2023 |  | 2022
Investment securities | ​ | $ | 157,456 | ​ | $ | 191,953
Allowance for credit losses | ​ | ​ | 16,398 | ​ | ​ | 15,346
Employee benefits | ​ |  | 5,727 | ​ |  | 5,775
Operating lease liabilities | ​ |  | 10,211 | ​ |  | 7,552
Other, net | ​ |  | 6,023 | ​ |  | 4,385
Deferred tax asset | ​ |  | 195,815 | ​ |  | 225,011
​ | ​ | ​ | ​ | ​ | ​ | ​
Goodwill and intangibles | ​ |  | 39,366 | ​ |  | 39,454
Operating lease right-of-use assets | ​ |  | 9,872 | ​ |  | 7,303
Loan origination costs | ​ |  | 10,777 | ​ |  | 9,731
Depreciation | ​ |  | 383 | ​ |  | 96
Mortgage servicing rights | ​ |  | 306 | ​ |  | 640
Pension | ​ |  | 19,181 | ​ |  | 18,154
Deferred tax liability | ​ |  | 79,885 | ​ |  | 75,378
Net deferred tax asset | ​ | $ | 115,930 | ​ | $ | 149,633
​
Schedule of reconciliation of the differences between the federal statutory income tax rate | A reconciliation of the differences between the federal statutory income tax rate and the effective tax rate for the years ended December 31 is shown in the following table: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021 |
Federal statutory income tax rate |  | 21.0 | % | 21.0 | % | 21.0 | %
Increase (reduction) in taxes resulting from: |  | ​ |  |  |  |  | ​
Tax-exempt interest |  | (1.7) |  | (1.3) |  | (1.1) | ​
State income taxes, net of federal benefit |  | 2.2 |  | 3.3 |  | 3.6 | ​
Stock-based compensation |  | (0.2) |  | (0.3) |  | (0.9) | ​
Federal tax credits |  | (0.5) |  | (1.0) |  | (1.0) | ​
Other, net |  | 0.8 |  | 0.0 |  | (0.2) | ​
Effective income tax rate |  | 21.6 | % | 21.7 | % | 21.4 | %

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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
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