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INVESTMENT SECURITIES (Tables)

9 Months Ended

Sep. 30, 2025

INVESTMENT SECURITIES

Schedule of amortized cost and estimated fair value of investment securities


		September 30, 2025												December 31, 2024
					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		$	2,396,816		$	0		$	218,906		$	2,177,910		$	2,389,208		$	0		$	305,422		$	2,083,786
Obligations of state and political subdivisions			418,563			298			33,420			385,441			428,204			288			41,997			386,495
Government agency mortgage-backed securities			332,181			85			46,017			286,249			360,102			37			58,915			301,224
Corporate debt securities			5,000			0			125			4,875			8,000			0			303			7,697
Government agency collateralized mortgage obligations			5,050			0			213			4,837			6,878			0			366			6,512
Total available-for-sale portfolio		$	3,157,610		$	383		$	298,681		$	2,859,312		$	3,192,392		$	325		$	407,003		$	2,785,714

Held-to-Maturity Portfolio:
U.S. Treasury and agency securities		$	1,160,978		$	0		$	83,632		$	1,077,346		$	1,138,743		$	0		$	123,194		$	1,015,549
Government agency mortgage-backed securities			281,330			2,502			289			283,543			206,412			448			2,241			204,619
Total held-to-maturity portfolio		$	1,442,308		$	2,502		$	83,921		$	1,360,889		$	1,345,155		$	448		$	125,435		$	1,220,168

Schedule of gains and losses on equity and other securities


		Three Months Ended						Nine Months Ended
		September 30,						September 30,
(000's omitted)		2025			2024			2025			2024
Net gain recognized on equity securities		$	236		$	101		$	480		$	984
Less: Net gain (loss) recognized on equity securities sold during the period			0			0			0			0
Unrealized gain recognized on equity securities still held		$	236		$	101		$	480		$	984

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

As of September 30, 2025


	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		$	2,177,910		$	218,906		$	2,177,910		$	218,906
Obligations of state and political subdivisions			41,792			1,040			281,692			32,380			323,484			33,420
Government agency mortgage-backed securities			106			1			280,461			46,016			280,567			46,017
Corporate debt securities			0			0			4,875			125			4,875			125
Government agency collateralized mortgage obligations			0			0			4,831			213			4,831			213
Total available-for-sale investment portfolio		$	41,898		$	1,041		$	2,749,769		$	297,640		$	2,791,667		$	298,681

Held-to-Maturity Portfolio:
U.S. Treasury and agency securities		$	0		$	0		$	1,077,346		$	83,632		$	1,077,346		$	83,632
Government agency mortgage-backed securities			20,696			112			28,270			177			48,966			289
Total held-to-maturity portfolio		$	20,696		$	112		$	1,105,616		$	83,809		$	1,126,312		$	83,921

As of December 31, 2024


		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		$	2,083,786		$	305,422		$	2,083,786		$	305,422
Obligations of state and political subdivisions			47,144			847			301,202			41,150			348,346			41,997
Government agency mortgage-backed securities			7,943			221			290,786			58,694			298,729			58,915
Corporate debt securities			0			0			7,697			303			7,697			303
Government agency collateralized mortgage obligations			0			0			6,501			366			6,501			366
Total available-for-sale investment portfolio		$	55,087		$	1,068		$	2,689,972		$	405,935		$	2,745,059		$	407,003

Held-to-Maturity Portfolio:
U.S. Treasury and agency securities		$	0		$	0		$	1,015,549		$	123,194		$	1,015,549		$	123,194
Government agency mortgage-backed securities			149,742			2,027			15,281			214			165,023			2,241
Total held-to-maturity portfolio		$	149,742		$	2,027		$	1,030,830		$	123,408		$	1,180,572		$	125,435

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		$	18,051		$	17,938
Due after one through five years			0			0			1,950,886			1,852,880
Due after five years through ten years			575,740			562,180			438,342			381,405
Due after ten years			585,238			515,166			413,100			316,003
Subtotal			1,160,978			1,077,346			2,820,379			2,568,226
Government agency mortgage-backed securities			281,330			283,543			332,181			286,249
Government agency collateralized mortgage obligations			0			0			5,050			4,837
Total		$	1,442,308		$	1,360,889		$	3,157,610		$	2,859,312