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Acquisitions | 12 Months Ended
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Dec. 31, 2014
Acquisitions [Abstract] |
Acquisitions | (2) Acquisitions Acquisition of Alliance Financial Corporation On March 8, 2013, the Company acquired Alliance Financial Corporation (“Alliance”), the parent company of Alliance Bank, N.A., for total consideration of $226 million. As part of the acquisition, Alliance was merged with and into the Company and Alliance Bank, with 26 branch locations in the central New York counties of Onondaga, Cortland, Madison, Oneida and Oswego, was merged with and into the Bank. The merger with Alliance enabled the Company to expand its footprint into demographically attractive and contiguous markets located in the aforementioned New York counties. Alliance operations were integrated into the Company and were included in the Consolidated Statements of Income from the date of acquisition. Other Goodwill Adjustments During the twelve months ended December 31, 2014, the Company recorded deferred tax adjustments totaling approximately ($1.0) million and valuation adjustments totaling ($0.4) related to the 2013 acquisition of Alliance resulting in a decrease in goodwill of approximately ($1.4) million in 2014. During the twelve months ended December 31, 2013, the Company recorded a deferred tax adjustment related to the 2012 acquisition of Hampshire First Bank resulting in a decrease in goodwill of approximately $(1.0) million. In addition, the Company recorded a goodwill adjustment of approximately $0.1 million related to the 2012 acquisition of a financial services company.

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