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ACQUISITIONS (Tables) | 12 Months Ended
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Dec. 31, 2023
ACQUISITIONS |
Summary of the estimated fair value of assets acquired and liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 | ​ | 2022 | ​ | 2021
(000s omitted) | ​ | Axiom |  | Other (1) |  | Total |  | Elmira | ​ | Other (2) | ​ | ​ | Total |  | Total (3)
Consideration: | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |
Cash | ​ | $ | 1,819 | ​ | $ | 6,698 | ​ | $ | 8,517 | ​ | $ | 82,179 | ​ | $ | 3,477 | ​ | $ | 85,656 | ​ | $ | 29,870
Contingent consideration | ​ | ​ | 0 | ​ | ​ | 1,450 | ​ | ​ | 1,450 | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 2,900
Total net consideration | ​ |  | 1,819 | ​ |  | 8,148 | ​ |  | 9,967 | ​ |  | 82,179 | ​ |  | 3,477 | ​ | ​ | 85,656 | ​ |  | 32,770
Recognized amounts of identifiable assets acquired and liabilities assumed: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ | ​ | ​ | ​ |  |
Cash and cash equivalents | ​ |  | 0 | ​ |  | 0 | ​ |  | 0 | ​ |  | 84,988 | ​ |  | 0 | ​ | ​ | 84,988 | ​ |  | 541
Investment securities | ​ |  | 0 | ​ |  | 0 | ​ |  | 0 | ​ |  | 11,305 | ​ |  | 0 | ​ | ​ | 11,305 | ​ |  | 0
Loans, net of allowance for credit losses on PCD loans | ​ |  | 0 | ​ |  | 0 | ​ |  | 0 | ​ |  | 436,796 | ​ |  | 0 | ​ | ​ | 436,796 | ​ |  | 0
Premises and equipment, net | ​ |  | 25 | ​ |  | 41 | ​ |  | 66 | ​ |  | 11,303 | ​ |  | 14 | ​ | ​ | 11,317 | ​ |  | 760
Accrued interest and fees receivable | ​ |  | 0 | ​ |  | 0 | ​ |  | 0 | ​ |  | 882 | ​ |  | 0 | ​ | ​ | 882 | ​ |  | 0
Other assets | ​ |  | 2 | ​ |  | 175 | ​ |  | 177 | ​ | ​ | 30,337 | ​ |  | 0 | ​ | ​ | 30,337 | ​ |  | 579
Core deposit intangibles | ​ |  | 0 | ​ |  | 0 | ​ |  | 0 | ​ |  | 7,970 | ​ |  | 0 | ​ | ​ | 7,970 | ​ |  | 0
Other intangibles | ​ |  | 1,176 | ​ |  | 4,930 | ​ |  | 6,106 | ​ |  | 0 | ​ |  | 3,014 | ​ | ​ | 3,014 | ​ |  | 26,337
Deposits | ​ |  | 0 | ​ |  | 0 | ​ |  | 0 | ​ |  | (522,295) | ​ |  | 0 | ​ | ​ | (522,295) | ​ |  | 0
Other liabilities | ​ |  | (9) | ​ |  | (9) | ​ |  | (18) | ​ |  | (3,596) | ​ |  | (34) | ​ | ​ | (3,630) | ​ |  | (1,164)
Other Federal Home Loan Bank borrowings | ​ |  | 0 | ​ |  | 0 | ​ |  | 0 | ​ |  | (17,616) | ​ |  | 0 | ​ | ​ | (17,616) | ​ |  | 0
Total identifiable assets, net | ​ |  | 1,194 | ​ |  | 5,137 | ​ |  | 6,331 | ​ |  | 40,074 | ​ |  | 2,994 | ​ | ​ | 43,068 | ​ |  | 27,053
Goodwill | ​ | $ | 625 | ​ | $ | 3,011 | ​ | $ | 3,636 | ​ | $ | 42,105 | ​ | $ | 483 | ​ | $ | 42,588 | ​ | $ | 5,717
(1) | Includes amounts for OneGroup, Wealth Partners and BPAS acquisitions completed in 2023.
(2) | Includes amounts for OneGroup acquisitions completed in 2022.
(3) | 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
Schedule of pro forma financial information | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Pro Forma (Unaudited)
​ | ​ | Year Ended December 31,
(000s omitted) |  | 2022 |  | 2021
Total revenue, net of interest expense | ​ | $ | 687,976 | ​ | $ | 646,375
Net income | ​ |  | 193,417 | ​ |  | 191,450
​

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