GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2016

GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS [Abstract]

Gross Carrying Amount and Accumulated Amortization for Each Type of Identifiable Intangible Asset

The gross carrying amount and accumulated amortization for each type of identifiable intangible asset are as follows:

	December 31, 2016							December 31, 2015
(000's omitted)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Amortizing intangible assets:
Core deposit intangibles	$	39,688	$	(32,581	)	$	7,107	$	39,688	$	(29,899	)	$	9,789
Other intangibles		17,853		(9,258	)		8,595		17,565		(6,460	)		11,105
Total amortizing intangibles	$	57,541	$	(41,839	)	$	15,702	$	57,253	$	(36,359	)	$	20,894

Estimated Aggregate Amortization Expense

The estimated aggregate amortization expense for each of the five succeeding fiscal years ended December 31 is as follows:

2017	$	4,413
2018		3,566
2019		2,782
2020		2,119
2021		1,531
Thereafter		1,291
Total	$	15,702

Components of Goodwill

Shown below are the components of the Company’s goodwill at December 31, 2016 and 2015:

(000’s omitted)	Year Ended December 31, 2014			Activity		Year Ended December 31, 2015			Activity		Year Ended December 31, 2016
Goodwill	$	379,998		$	88,078	$	468,076		$	1,890	$	469,966
Accumulated impairment		(4,824	)		0		(4,824	)		0		(4,824	)
Goodwill, net	$	375,174		$	88,078	$	463,252		$	1,890	$	465,142

Changes in Carrying Value of MSRs and Associated Valuation Allowance

The following table summarizes the changes in carrying value of MSRs and the associated valuation allowance:

(000’s omitted)	2016			2015
Carrying value before valuation allowance at beginning of period	$	1,472		$	1,089
Additions		481			403
Oneida acquisition		0			389
Amortization		(518	)		(409	)
Carrying value before valuation allowance at end of period		1,435			1,472
Valuation allowance balance at beginning of period		0			0
Impairment charges		(226	)		(133	)
Impairment recoveries		226			133
Valuation allowance balance at end of period		0			0
Net carrying value at end of period	$	1,435		$	1,472
Fair value of MSRs at end of period	$	1,928		$	1,962
Principal balance of loans sold during the year	$	45,852		$	35,491
Principal balance of loans serviced for others	$	365,374		$	377,909
Custodial escrow balances maintained in connection with loans serviced for others	$	5,603		$	5,700

Summary of Key Economic Assumptions Used to Estimate Value of MSRs

The following table summarizes the key economic assumptions used to estimate the value of the MSRs at December 31:

	2016			2015
Weighted-average contractual life (in years)		20.8			19.9
Weighted-average constant prepayment rate (CPR)		15.1	%		14.9	%
Weighted-average discount rate		3.5	%		3.3	%