| FAIR VALUE [Abstract] | Period [Axis] |
|---|
2016-01-01 - 2016-12-31 |
|---|
FAIR VALUE [Abstract] | |
Summary of Fair Value Measured on a Recurring Basis | There were no transfers between any of the levels for the periods presented. | | | December 31, 2016 | | (000's omitted) | | Level 1 | | | Level 2 | | | Level 3 | | | Total Fair Value | | Available-for-sale investment securities: | | | | | | | | | | | | | U.S. Treasury and agency securities | | $ | 1,902,762 | | | $ | 0 | | | $ | 0 | | | $ | 1,902,762 | | Obligations of state and political subdivisions | | | 0 | | | | 594,990 | | | | 0 | | | | 594,990 | | Government agency mortgage-backed securities | | | 0 | | | | 235,230 | | | | 0 | | | | 235,230 | | Corporate debt securities | | | 0 | | | | 5,687 | | | | 0 | | | | 5,687 | | Government agency collateralized mortgage obligations | | | 0 | | | | 9,535 | | | | 0 | | | | 9,535 | | Marketable equity securities | | | 452 | | | | 0 | | | | 0 | | | | 452 | | Total available-for-sale investment securities | | | 1,903,214 | | | | 845,442 | | | | 0 | | | | 2,748,656 | | Mortgage loans held for sale | | | 0 | | | | 2,416 | | | | 0 | | | | 2,416 | | Commitments to originate real estate loans for sale | | | 0 | | | | 0 | | | | 54 | | | | 54 | | Forward sales commitments | | | 0 | | | | 3 | | | | 0 | | | | 3 | | Total | | $ | 1,903,214 | | | $ | 847,861 | | | $ | 54 | | | $ | 2,751,129 | |
| | | December 31, 2015 | | (000's omitted) | | Level 1 | | | Level 2 | | | Level 3 | | | Total Fair Value | | Available-for-sale investment securities: | | | | | | | | | | | | | | | | | U.S. Treasury and agency securities | | $ | 1,899,978 | | | $ | 0 | | | $ | 0 | | | $ | 1,899,978 | | Obligations of state and political subdivisions | | | 0 | | | | 666,883 | | | | 0 | | | | 666,883 | | Government agency mortgage-backed securities | | | 0 | | | | 210,865 | | | | 0 | | | | 210,865 | | Corporate debt securities | | | 0 | | | | 16,680 | | | | 0 | | | | 16,680 | | Government agency collateralized mortgage obligations | | | 0 | | | | 13,308 | | | | 0 | | | | 13,308 | | Marketable equity securities | | | 399 | | | | 0 | | | | 0 | | | | 399 | | Total available-for-sale investment securities | | | 1,900,377 | | | | 907,736 | | | | 0 | | | | 2,808,113 | | Mortgage loans held for sale | | | 0 | | | | 932 | | | | 0 | | | | 932 | | Commitments to originate real estate loans for sale | | | 0 | | | | 0 | | | | 117 | | | | 117 | | Forward sales commitments | | | 0 | | | | (37 | ) | | | 0 | | | | (37 | ) | Total | | $ | 1,900,377 | | | $ | 908,631 | | | $ | 117 | | | $ | 2,809,125 | |
|
Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis | The changes in Level 3 assets measured at fair value on a recurring basis are summarized in the following tables:
| | | For the Year Ending December 31, | | | | | 2016 | | | 2015 | | (000's omitted) | | Commitments to Originate Real Estate Loans for Sale | | | Commitments to Originate Real Estate Loans for Sale | | Beginning balance | | $ | 117 | | | $ | 185 | | Total (losses)/gains included in earnings (1) | | | (1,234 | ) | | | (808 | ) | Commitments to originate real estate loans held for sale, net | | | 1,171 | | | | 740 | | Ending balance | | $ | 54 | | | $ | 117 | |
(1) | Amounts included in earnings associated with the commitments to originate real estate loans for sale are reported as a component of other banking services in the Consolidated Statement of Income. |
|
Assets and Liabilities Measured on a Non-Recurring Basis | Assets and liabilities measured on a non-recurring basis:
| | | December 31, 2016 | | | December 31, 2015 | | (000's omitted) | | Level 1 | | | Level 2 | | | Level 3 | | | Total Fair Value | | | Level 1 | | | Level 2 | | | Level 3 | | | Total Fair Value | | Impaired loans | | $ | 0 | | | $ | 0 | | | $ | 633 | | | $ | 633 | | | $ | 0 | | | $ | 0 | | | $ | 1,765 | | | $ | 1,765 | | Other real estate owned | | | 0 | | | | 0 | | | | 1,966 | | | | 1,966 | | | | 0 | | | | 0 | | | | 2,088 | | | | 2,088 | | Total | | $ | 0 | | | $ | 0 | | | $ | 2,599 | | | $ | 2,599 | | | $ | 0 | | | $ | 0 | | | $ | 3,853 | | | $ | 3,853 | |
|
Significant Unobservable Inputs, Fair Value Valuation Techniques | The significant unobservable inputs used in the determination of fair value of assets classified as Level 3 on a recurring or non-recurring basis as of December 31, 2016 are as follows: (000's omitted) | | Fair Value | | Valuation Technique | Significant Unobservable Inputs | | Significant Unobservable Input Range (Weighted Average) | | | | | | | | | | | | Other real estate owned | | $ | 1,966 | | Fair value of collateral | Estimated cost of disposal/market adjustment | | | 9.0% - 97.0% (29.6 | %) | Impaired loans | | | 633 | | Fair value of collateral | Estimated cost of disposal/market adjustment | | | 15.0% - 50.0% (36.5 | %) | Commitments to originate real estate loans for sale | | | 54 | | Discounted cash flow | Embedded servicing value | | | 1 | % |
The significant unobservable inputs used in the determination of fair value of assets classified as Level 3 on a recurring or non-recurring basis as of December 31, 2015 are as follows: (000's omitted) | | Fair Value | | Valuation Technique | Significant Unobservable Inputs | | Significant Unobservable Input Range (Weighted Average) | | | | | | | | | | | | Other real estate owned | | $ | 2,088 | | Fair value of collateral | Estimated cost of disposal/market adjustment | | | 5.3% - 74.0% (27.7 | %) | Impaired loans | | | 1,765 | | Fair value of collateral | Estimated cost of disposal/market adjustment | | | 9.0% - 20.0% (17.9 | %) | Commitments to originate real estate loans for sale | | | 117 | | Discounted cash flow | Embedded servicing value | | | 1 | % |
|
Carrying Amounts and Estimated Fair Values of Other Financial Instruments | The carrying amounts and estimated fair values of the Company’s other financial instruments that are not accounted for at fair value at December 31, 2016 and 2015 are as follows: | | | December 31, 2016 | | | December 31, 2015 | | (000's omitted) | | Carrying Value | | | Fair Value | | | Carrying Value | | | Fair Value | | Financial assets: | | | | | | | | | | | | | Net loans | | $ | 4,901,329 | | | | 4,935,140 | | | $ | 4,755,974 | | | $ | 4,808,856 | | Financial liabilities: | | | | | | | | | | | | | | | | | Deposits | | | 7,075,954 | | | | 7,071,191 | | | | 6,873,474 | | | | 6,871,098 | | Borrowings | | | 146,200 | | | | 146,200 | | | | 301,300 | | | | 301,300 | | Subordinated debt held by unconsolidated subsidiary trusts | | | 102,170 | | | | 90,144 | | | | 102,146 | | | | 84,680 | |
|