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INVESTMENT SECURITIES (Tables)

6 Months Ended

Jun. 30, 2024

INVESTMENT SECURITIES

Schedule of amortized cost and estimated fair value of investment securities


		June 30, 2024												December 31, 2023
					Gross			Gross									Gross			Gross
		Amortized			Unrealized			Unrealized			Fair			Amortized			Unrealized			Unrealized			Fair
(000’s omitted)		Cost			Gains			Losses			Value			Cost			Gains			Losses			Value
Available-for-Sale Portfolio:
U.S. Treasury and agency securities		$	2,385,193		$	0		$	329,145		$	2,056,048		$	2,381,168		$	0		$	300,385		$	2,080,783
Obligations of state and political subdivisions			459,849			330			42,736			417,443			502,879			1,469			29,985			474,363
Government agency mortgage-backed securities			380,373			23			60,101			320,295			400,062			76			51,612			348,526
Corporate debt securities			8,000			0			503			7,497			8,000			0			606			7,394
Government agency collateralized mortgage obligations			8,195			0			525			7,670			9,498			0			572			8,926
Total available-for-sale portfolio		$	3,241,610		$	353		$	433,010		$	2,808,953		$	3,301,607		$	1,545		$	383,160		$	2,919,992

Held-to-Maturity Portfolio:
U.S. Treasury and agency securities		$	1,123,825		$	0		$	102,042		$	1,021,783		$	1,109,101		$	0		$	50,866		$	1,058,235
Government agency mortgage-backed securities			147,284			343			1,655			145,972			63,073			688			180			63,581
Total held-to-maturity portfolio		$	1,271,109		$	343		$	103,697		$	1,167,755		$	1,172,174		$	688		$	51,046		$	1,121,816

Schedule of gains and losses on equity and other securities


		Three Months Ended						Six Months Ended
		June 30,						June 30,
(000’s omitted)		2024			2023			2024			2023
Net gain (loss) recognized on equity securities		$	867		$	(50)		$	883		$	(50)
Less: Net gain (loss) recognized on equity securities sold during the period			0			0			0			0
Unrealized gain (loss) recognized on equity securities still held		$	867		$	(50)		$	883		$	(50)

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

As of June 30, 2024


		Less than 12 Months						12 Months or Longer						Total
					Gross						Gross						Gross
		Fair			Unrealized			Fair			Unrealized			Fair			Unrealized
(000’s omitted)		Value			Losses			Value			Losses			Value			Losses
Available-for-Sale Portfolio:
U.S. Treasury and agency securities		$	0		$	0		$	2,056,048		$	329,145		$	2,056,048		$	329,145
Obligations of state and political subdivisions			65,434			1,524			317,221			41,212			382,655			42,736
Government agency mortgage-backed securities			1,562			17			316,377			60,084			317,939			60,101
Corporate debt securities			0			0			7,497			503			7,497			503
Government agency collateralized mortgage obligations			0			0			7,656			525			7,656			525
Total available-for-sale investment portfolio		$	66,996		$	1,541		$	2,704,799		$	431,469		$	2,771,795		$	433,010

Held-to-Maturity Portfolio:
U.S Treasury and agency securities		$	0		$	0		$	1,021,783		$	102,042		$	1,021,783		$	102,042
Government agency mortgage-backed securities			114,305			1,518			6,507			137			120,812			1,655
Total held-to-maturity portfolio		$	114,305		$	1,518		$	1,028,290		$	102,179		$	1,142,595		$	103,697

As of December 31, 2023


		Less than 12 Months						12 Months or Longer						Total
					Gross						Gross						Gross
		Fair			Unrealized			Fair			Unrealized			Fair			Unrealized
(000’s omitted)		Value			Losses			Value			Losses			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

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


		Held-to-Maturity						Available-for-Sale
		Amortized			Fair			Amortized			Fair
(000’s omitted)		Cost			Value			Cost			Value
Due in one year or less		$	0		$	0		$	13,680		$	13,537
Due after one through five years			0			0			1,681,466			1,519,060
Due after five years through ten years			559,346			525,818			485,462			427,416
Due after ten years			564,479			495,965			672,434			520,975
Subtotal			1,123,825			1,021,783			2,853,042			2,480,988
Government agency mortgage-backed securities			147,284			145,972			380,373			320,295
Government agency collateralized mortgage obligations			0			0			8,195			7,670
Total		$	1,271,109		$	1,167,755		$	3,241,610		$	2,808,953