v3.26.1
FAIR VALUE (Tables)
6 Months Ended
Jun. 30, 2026
FAIR VALUE  
Schedule of fair value measured on a recurring basis

June 30, 2026

Total Fair

(000’s omitted)

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

  ​ ​ ​

Value

Available-for-sale investment securities:

 

  ​

 

  ​

 

  ​

 

  ​

U.S. Treasury and agency securities

$

2,143,656

$

75,725

$

0

$

2,219,381

Obligations of state and political subdivisions

 

0

 

435,993

 

0

 

435,993

Government agency mortgage-backed securities

 

0

 

284,451

 

0

 

284,451

Corporate debt securities

 

0

 

8,471

 

0

 

8,471

Government agency collateralized mortgage obligations

 

0

 

9,667

 

0

 

9,667

Total available-for-sale investment securities

 

2,143,656

 

814,307

 

0

 

2,957,963

Equity securities

 

3,661

 

0

 

0

 

3,661

Mortgage loans held for sale

 

0

1,571

0

1,571

Commitments to originate real estate loans for sale

0

0

391

391

Interest rate swap agreements asset

 

0

 

4,137

 

0

 

4,137

Interest rate swap agreements liability

 

0

 

(8,054)

 

0

 

(8,054)

Total

$

2,147,317

$

811,961

$

391

$

2,959,669

December 31, 2025

Total Fair

(000’s omitted)

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

  ​ ​ ​

Value

Available-for-sale investment securities:

 

  ​

 

  ​

 

  ​

 

  ​

U.S. Treasury and agency securities

$

2,133,932

$

61,294

$

0

$

2,195,226

Obligations of state and political subdivisions

 

0

 

391,917

 

0

 

391,917

Government agency mortgage-backed securities

 

0

 

278,885

 

0

 

278,885

Corporate debt securities

 

0

 

4,912

 

0

 

4,912

Government agency collateralized mortgage obligations

 

0

 

4,401

 

0

 

4,401

Total available-for-sale investment securities

 

2,133,932

 

741,409

 

0

 

2,875,341

Equity securities

 

4,414

 

0

 

0

 

4,414

Mortgage loans held for sale

0

 

108

 

0

 

108

Commitments to originate real estate loans for sale

0

0

154

154

Forward sales commitments

0

15

0

15

Interest rate swap agreements asset

 

0

 

7,524

 

0

 

7,524

Interest rate swap agreements liability

 

0

 

(7,524)

0

 

(7,524)

Total

$

2,138,346

$

741,532

$

154

$

2,880,032

Schedule of assets and liabilities measured on a non-recurring basis

June 30, 2026

December 31, 2025

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

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

$

2,402

 

$

2,402

$

0

$

0

$

14,361

 

$

14,361

Other real estate owned

 

0

0

5,354

 

5,354

0

0

5,778

 

5,778

Mortgage servicing rights

 

0

 

0

 

908

 

 

908

 

0

 

0

 

853

 

 

853

Contingent consideration

0

0

(7,345)

(7,345)

0

0

(9,220)

(9,220)

Total

$

0

$

0

$

1,319

 

$

1,319

$

0

$

0

$

11,772

 

$

11,772

Schedule of significant unobservable inputs, fair value valuation techniques

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

Significant Unobservable

 

Fair Value at

Input Range

 

(000's omitted, except per loan data)

June 30, 2026

Valuation Technique

Significant Unobservable Inputs

(Weighted Average)

 

Individually assessed loans

$

2,402

 

Fair value of collateral

 

Estimated cost of disposal/market adjustment

 

23.3% - 89.0% (33.8%)

Other real estate owned

5,354

 

Fair value of collateral

 

Estimated cost of disposal/market adjustment

 

27.2

%

Commitments to originate real estate loans for sale

391

Discounted cash flow

Embedded servicing value

1.0

%

Mortgage servicing rights

 

908

 

Discounted cash flow

 

Weighted average constant prepayment rate

 

23.8% - 24.7% (24.6%)

 

Weighted average discount rate

 

5.2% - 5.7% (5.6%)

Contingent consideration

(7,345)

Discounted cash flow

Discount rate

11.9% - 18.4% (13.0%)

Probability of achievement

30.0% - 82.0% (57.0%)

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

Significant Unobservable

 

Fair Value at

Input Range

 

(000's omitted, except per loan data)

December 31, 2025

Valuation Technique

Significant Unobservable Inputs

(Weighted Average)

 

Individually assessed loans

$

14,361

 

Fair value of collateral

 

Estimated cost of disposal/market adjustment

 

27.2

%

Other real estate owned

5,778

 

Fair value of collateral

 

Estimated cost of disposal/market adjustment

 

9.0% - 27.2% (26.8%)

Commitments to originate real estate loans for sale

154

Discounted cash flow

Embedded servicing value

1.0

%

Mortgage servicing rights

 

853

 

Discounted cash flow

 

Weighted average constant prepayment rate

 

22.6% - 25.5% (22.8%)

 

Weighted average discount rate

 

4.9% - 5.5% (5.5%)

Contingent consideration

(9,220)

Discounted cash flow

Discount rate

12.2% - 18.4% (13.6%)

Probability of achievement

30.0% - 82.0% (65.6%)

Schedule of carrying amounts and estimated fair values of other financial instruments

June 30, 2026

December 31, 2025

  ​ ​ ​

Carrying

  ​ ​ ​

Fair

  ​ ​ ​

Carrying

  ​ ​ ​

Fair

(000’s omitted)

Value

Value

Value

Value

Financial assets:

 

  ​

 

  ​

 

  ​

 

  ​

Net loans

$

11,191,128

$

10,995,577

$

10,861,836

$

10,745,154

Held-to-maturity securities

1,478,386

1,372,481

1,454,166

1,370,464

Other investment securities

5,194

5,194

0

0

Financial liabilities:

 

 

 

 

Deposits

 

14,710,409

 

14,699,447

 

14,387,085

 

14,377,084

Securities sold under agreement to repurchase, short-term

 

157,577

 

157,577

 

231,163

 

231,163

Other Federal Home Loan Bank borrowings

 

425,576

 

427,624

 

450,439

 

456,821