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FAIR VALUE (Tables) | 9 Months Ended
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Sep. 30, 2024
FAIR VALUE |
Schedule of fair value measured on a recurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2024
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Total Fair
(000’s omitted) |  | Level 1 |  | Level 2 |  | Level 3 |  | Value
Available-for-sale investment securities: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S. Treasury and agency securities | ​ | $ | 2,081,293 | ​ | $ | 61,329 | ​ | $ | 0 | ​ | $ | 2,142,622
Obligations of state and political subdivisions | ​ |  | 0 | ​ |  | 401,952 | ​ |  | 0 | ​ |  | 401,952
Government agency mortgage-backed securities | ​ |  | 0 | ​ |  | 326,509 | ​ |  | 0 | ​ |  | 326,509
Corporate debt securities | ​ |  | 0 | ​ |  | 7,673 | ​ |  | 0 | ​ |  | 7,673
Government agency collateralized mortgage obligations | ​ |  | 0 | ​ |  | 7,187 | ​ |  | 0 | ​ |  | 7,187
Total available-for-sale investment securities | ​ |  | 2,081,293 | ​ |  | 804,650 | ​ |  | 0 | ​ |  | 2,885,943
Equity securities | ​ |  | 2,106 | ​ |  | 0 | ​ |  | 0 | ​ |  | 2,106
Mortgage loans held for sale | ​ | ​ | 0 | ​ | ​ | 739 | ​ | ​ | 0 | ​ | ​ | 739
Commitments to originate real estate loans for sale | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 329 | ​ | ​ | 329
Interest rate swap agreements asset | ​ |  | 0 | ​ |  | 5,017 | ​ |  | 0 | ​ |  | 5,017
Interest rate swap agreements liability | ​ |  | 0 | ​ |  | (5,017) | ​ |  | 0 | ​ |  | (5,017)
Total | ​ | $ | 2,083,399 | ​ | $ | 805,389 | ​ | $ | 329 | ​ | $ | 2,889,117
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2023
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Total Fair
(000’s omitted) |  | Level 1 |  | Level 2 |  | Level 3 |  | Value
Available-for-sale investment securities: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S. Treasury and agency securities | ​ | $ | 2,019,089 | ​ | $ | 61,694 | ​ | $ | 0 | ​ | $ | 2,080,783
Obligations of state and political subdivisions | ​ |  | 0 | ​ |  | 474,363 | ​ |  | 0 | ​ |  | 474,363
Government agency mortgage-backed securities | ​ |  | 0 | ​ |  | 348,526 | ​ |  | 0 | ​ |  | 348,526
Corporate debt securities | ​ |  | 0 | ​ |  | 7,394 | ​ |  | 0 | ​ |  | 7,394
Government agency collateralized mortgage obligations | ​ |  | 0 | ​ |  | 8,926 | ​ |  | 0 | ​ |  | 8,926
Total available-for-sale investment securities | ​ |  | 2,019,089 | ​ |  | 900,903 | ​ |  | 0 | ​ |  | 2,919,992
Equity securities | ​ |  | 372 | ​ |  | 0 | ​ |  | 0 | ​ |  | 372
Mortgage loans held for sale | ​ |  | 0 | ​ |  | 414 | ​ |  | 0 | ​ |  | 414
Commitments to originate real estate loans for sale | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 2 | ​ | ​ | 2
Forward sales commitments | ​ | ​ | 0 | ​ | ​ | 6 | ​ | ​ | 0 | ​ | ​ | 6
Total | ​ | $ | 2,019,461 | ​ | $ | 901,323 | ​ | $ | 2 | ​ | $ | 2,920,786
Schedule of assets and liabilities measured on a non-recurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2024 | ​ | December 31, 2023
​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | ​ | Total Fair |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | Total Fair
(000’s omitted) | ​ | Level 1 | ​ | Level 2 | ​ | Level 3 | ​ | Value | ​ | Level 1 | ​ | Level 2 | ​ | Level 3 | ​ | Value
Individually assessed loans | ​ | $ | 0 | ​ | $ | 0 | ​ | $ | 11,767 |  | $ | 11,767 | ​ | $ | 0 | ​ | $ | 0 | ​ | $ | 3,014 |  | $ | 3,014
Other real estate owned | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 2,279 |  | ​ | 2,279 | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 1,159 |  | ​ | 1,159
Mortgage servicing rights | ​ |  | 0 | ​ |  | 0 | ​ |  | 493 |  |  | 493 | ​ |  | 0 | ​ |  | 0 | ​ |  | 162 |  |  | 162
Contingent consideration | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | (3,737) | ​ | ​ | (3,737) | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | (5,150) | ​ | ​ | (5,150)
Total | ​ | $ | 0 | ​ | $ | 0 | ​ | $ | 10,802 |  | $ | 10,802 | ​ | $ | 0 | ​ | $ | 0 | ​ | $ | (815) |  | $ | (815)
Schedule of significant unobservable inputs, fair value valuation techniques | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | ​ |  | ​ |  | Significant Unobservable |
​ | ​ | Fair Value at | ​ | ​ | ​ | ​ | ​ | Input Range | ​
(000’s omitted, except per loan data) | ​ | September 30, 2024 | ​ | Valuation Technique | ​ | Significant Unobservable Inputs |  | (Weighted Average) | ​
Individually assessed loans | ​ | $ | 11,767 |  | Fair value of collateral |  | Estimated cost of disposal/market adjustment |  | ​ | 27.2 | %
Other real estate owned | ​ | ​ | 2,279 |  | Fair value of collateral |  | Estimated cost of disposal/market adjustment |  | ​ | 9.0% - 93.1% (48.2%) | ​
Commitments to originate real estate loans for sale | ​ |  | 329 |  | Discounted cash flow |  | Embedded servicing value |  | ​ | 1.0 | %
Mortgage servicing rights | ​ |  | 493 |  | Discounted cash flow |  | Weighted average constant prepayment rate |  | ​ | 8.5% - 16.6% (9.1%) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted average discount rate | ​ | ​ | 4.6% - 4.9% (4.9%) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Adequate compensation | ​ | $ | 7/loan | ​
Contingent consideration | ​ | ​ | (3,737) | ​ | Discounted cash flow | ​ | Discount rate | ​ | ​ | 18.4% (18.4%) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Probability of achievement | ​ | ​ | 82.0% (82.0%) | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Significant Unobservable | ​
​ | ​ | Fair Value at | ​ | ​ | ​ | ​ | ​ | Input Range | ​
(000’s omitted, except per loan data) | ​ | December 31, 2023 | ​ | Valuation Technique | ​ | Significant Unobservable Inputs | ​ | (Weighted Average) |
Individually assessed loans | ​ | $ | 3,014 |  | Fair value of collateral |  | Estimated cost of disposal/market adjustment |  | ​ | 27.2 | %
Other real estate owned | ​ | ​ | 1,159 |  | Fair value of collateral |  | Estimated cost of disposal/market adjustment |  | ​ | 9.0% - 73.8% (45.8%) | ​
Commitments to originate real estate loans for sale | ​ | ​ | 2 | ​ | Discounted cash flow | ​ | Embedded servicing value | ​ | ​ | 1.0 | %
Mortgage servicing rights | ​ |  | 162 |  | Discounted cash flow |  | Weighted average constant prepayment rate |  | ​ | 4.2% - 5.1% (4.2%) | ​
​ | ​ |  | ​ |  |  |  | Weighted average discount rate |  | ​ | 4.6% - 5.0% (4.9%) | ​
​ | ​ | ​ | ​ | ​ | ​ |  | Adequate compensation | ​ | $ | 7/loan | ​
Contingent consideration | ​ | ​ | (5,150) | ​ | Discounted cash flow | ​ | Discount rate | ​ | ​ | 6.7% - 6.9% (6.9%) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Probability of achievement | ​ | ​ | 100% | ​
​
Schedule of carrying amounts and estimated fair values of other financial instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2024 | ​ | December 31, 2023
​ |  | Carrying |  | Fair |  | Carrying |  | Fair
(000’s omitted) | ​ | Value | ​ | Value | ​ | Value | ​ | Value
Financial assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Net loans | ​ | $ | 10,175,507 | ​ | $ | 9,897,287 | ​ | $ | 9,637,929 | ​ | $ | 9,293,902
Held-to-maturity securities | ​ | ​ | 1,319,050 | ​ | ​ | 1,276,676 | ​ | ​ | 1,172,174 | ​ | ​ | 1,121,816
Financial liabilities: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Deposits | ​ |  | 13,476,171 | ​ |  | 13,463,479 | ​ |  | 12,928,121 | ​ |  | 12,907,605
Overnight borrowings | ​ |  | 0 | ​ |  | 0 | ​ |  | 53,000 | ​ |  | 53,000
Securities sold under agreement to repurchase, short-term | ​ |  | 317,448 | ​ |  | 317,448 | ​ |  | 304,595 | ​ |  | 304,595
Other Federal Home Loan Bank borrowings | ​ |  | 622,273 | ​ |  | 628,532 | ​ |  | 407,603 | ​ |  | 410,385

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique used to measure similar asset in prior period by class of asset or liability on non-recurring basis. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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