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INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2023

INVESTMENT SECURITIES

Schedule of amortized cost and estimated fair value of investment securities


		2023												2022
					Gross			Gross									Gross			Gross
		Amortized			Unrealized			Unrealized			Estimated			Amortized			Unrealized			Unrealized			Estimated
(000’s omitted)		Cost			Gains			Losses			Fair Value			Cost			Gains			Losses			Fair Value
Available-for-Sale Portfolio:
U.S. Treasury and agency securities		$	2,381,168		$	0		$	300,385		$	2,080,783		$	3,660,546		$	0		$	417,009		$	3,243,537
Obligations of state and political subdivisions			502,879			1,469			29,985			474,363			549,118			506			45,327			504,297
Government agency mortgage-backed securities			400,062			76			51,612			348,526			444,689			58			60,114			384,633
Corporate debt securities			8,000			0			606			7,394			8,000			0			886			7,114
Government agency collateralized mortgage obligations			9,498			0			572			8,926			13,121			1			852			12,270
Total available-for-sale portfolio		$	3,301,607		$	1,545		$	383,160		$	2,919,992		$	4,675,474		$	565		$	524,188		$	4,151,851
Held-to-Maturity Portfolio:
U.S. Treasury and agency securities		$	1,109,101		$	0		$	50,866		$	1,058,235		$	1,079,695		$	0		$	44,900		$	1,034,795
Government agency mortgage-backed securities			63,073			688			180			63,581			0			0			0			0
Total held-to-maturity portfolio		$	1,172,174		$	688		$	51,046		$	1,121,816		$	1,079,695		$	0		$	44,900		$	1,034,795
Equity and other Securities:
Equity securities, at fair value		$	251		$	121		$	0		$	372		$	251		$	168		$	0		$	419
Federal Home Loan Bank common stock			32,526			0			0			32,526			47,497			0			0			47,497
Federal Reserve Bank common stock			33,568			0			0			33,568			31,144			0			0			31,144
Other equity securities, at adjusted cost			5,930			750			0			6,680			3,532			750			0			4,282
Total equity and other securities		$	72,275		$	871		$	0		$	73,146		$	82,424		$	918		$	0		$	83,342

Schedule of investment securities that have been in a continuous unrealized loss position

As of December 31, 2023


	Less than 12 Months						12 Months or Longer						Total
					Gross						Gross						Gross
					Unrealized						Unrealized						Unrealized
(000’s omitted)		Fair Value			Losses			Fair Value			Losses			Fair Value			Losses
Available-for-Sale Portfolio:
U.S. Treasury and agency securities		$	0		$	0		$	2,080,783		$	300,385		$	2,080,783		$	300,385
Obligations of state and political subdivisions			63,541			878			287,191			29,107			350,732			29,985
Government agency mortgage-backed securities			8,586			55			336,266			51,557			344,852			51,612
Corporate debt securities			0			0			7,394			606			7,394			606
Government agency collateralized mortgage obligations			0			0			8,907			572			8,907			572
Total available-for-sale investment portfolio		$	72,127		$	933		$	2,720,541		$	382,227		$	2,792,668		$	383,160
Held-to-Maturity Portfolio:
U.S Treasury and agency securities		$	536,885		$	15,953		$	521,350		$	34,913		$	1,058,235		$	50,866
Government agency mortgage-backed securities			18,951			158			1,393			22			20,344			180
Total held-to-maturity portfolio		$	555,836		$	16,111		$	522,743		$	34,935		$	1,078,579		$	51,046

As of December 31, 2022


	Less than 12 Months						12 Months or Longer						Total
					Gross						Gross						Gross
					Unrealized						Unrealized						Unrealized
(000’s omitted)		Fair Value			Losses			Fair Value			Losses			Fair Value			Losses
Available-for-Sale Portfolio:
U.S. Treasury and agency securities		$	1,384,075		$	132,511		$	1,859,462		$	284,498		$	3,243,537		$	417,009
Obligations of state and political subdivisions			370,524			35,488			47,923			9,839			418,447			45,327
Government agency mortgage-backed securities			190,727			19,508			189,919			40,606			380,646			60,114
Corporate debt securities			0			0			7,114			886			7,114			886
Government agency collateralized mortgage obligations			9,968			600			2,274			252			12,242			852
Total available-for-sale investment portfolio		$	1,955,294		$	188,107		$	2,106,692		$	336,081		$	4,061,986		$	524,188
Held-to-Maturity Portfolio:
U.S Treasury and agency securities		$	1,034,795		$	44,900		$	0		$	0		$	1,034,795		$	44,900
Total held-to-maturity portfolio		$	1,034,795		$	44,900		$	0		$	0		$	1,034,795		$	44,900

Schedule of amortized cost and estimated fair value of debt securities by contractual maturity


		Held-to-Maturity						Available-for-Sale
(000’s omitted)		Amortized Cost			Fair Value			Amortized Cost			Fair Value
Due in one year or less		$	0		$	0		$	16,671		$	16,566
Due after one through five years			0			0			1,583,809			1,441,328
Due after five years through ten years			552,838			536,885			579,092			523,830
Due after ten years			556,263			521,350			712,475			580,816
Subtotal			1,109,101			1,058,235			2,892,047			2,562,540
Government agency mortgage-backed securities			63,073			63,581			400,062			348,526
Government agency collateralized mortgage obligations			0			0			9,498			8,926
Total		$	1,172,174		$	1,121,816		$	3,301,607		$	2,919,992