INVESTMENT SECURITIES (Tables)

6 Months Ended

Jun. 30, 2012

INVESTMENT SECURITIES [Abstract]

Amortized Cost and Estimated Fair Value of Investment Securities

The amortized cost and estimated fair value of investment securities as of June 30, 2012 and December 31, 2011 are as follows:

	June 30, 2012								December 31, 2011
			Gross		Gross		Estimated				Gross		Gross		Estimated
	Amortized		Unrealized		Unrealized		Fair		Amortized		Unrealized		Unrealized		Fair
(000's omitted)	Cost		Gains		Losses		Value		Cost		Gains		Losses		Value
Held-to-Maturity Portfolio:
U.S. Treasury and agency securities	$	547,294	$	62,053	$	0	$	609,347	$	448,260	$	56,800	$	0	$	505,060
Obligations of state and political subdivisions		69,669		5,707		0		75,376		69,623		5,088		0		74,711
Government agency mortgage-backed securities		27,822		1,669		0		29,491		35,576		2,452		0		38,028
Corporate debt securities		2,935		3		0		2,938		0		0		0		0
Other securities		27		0		0		27		36		0		0		36
Total held-to-maturity portfolio	$	647,747	$	69,432	$	0	$	717,179	$	553,495	$	64,340	$	0	$	617,835
Available-for-Sale Portfolio:
U.S. Treasury and agency securities	$	994,415	$	94,877	$	0	$	1,089,292	$	463,922	$	56,626	$	0	$	520,548
Obligations of state and political subdivisions		685,086		29,560		1,414		713,232		543,527		29,721		236		573,012
Government agency mortgage-backed securities		277,971		20,364		21		298,314		310,541		20,840		2		331,379
Pooled trust preferred securities		64,688		0		15,902		48,786		68,115		0		24,269		43,846
Government agency collateralized mortgage obligations		38,713		1,258		61		39,910		45,481		1,572		110		46,943
Corporate debt securities		14,995		1,236		0		16,231		21,495		1,360		0		22,855
Marketable equity securities		381		80		79		382		380		92		82		390
Total available-for-sale portfolio	$	2,076,249	$	147,375	$	17,477	$	2,206,147	$	1,453,461	$	110,211	$	24,699	$	1,538,973
Other Securities:
Federal Home Loan Bank common stock	$	57,452					$	57,452	$	38,343					$	38,343
Federal Reserve Bank common stock		15,451						15,451		15,451						15,451
Other equity securities		5,121						5,121		5,108						5,108
Total other securities	$	78,024					$	78,024	$	58,902					$	58,902

Summary of Investment Securities That Have Been in a Continuous Unrealized Loss Position for Less Than or Greater Than Twelve Months

A summary of investment securities that have been in a continuous unrealized loss position for less than, or greater, than twelve months is as follows:

As of June 30, 2012

	Less than 12 Months						12 Months or Longer						Total
					Gross						Gross						Gross
			Fair		Unrealized				Fair		Unrealized				Fair		Unrealized
(000's omitted)		#	Value		Losses			#	Value		Losses			#	Value		Losses
Available-for-Sale Portfolio:
Obligations of state and political subdivisions		156	$	109,974	$	1,413		1	$	561	$	1		157	$	110,535	$	1,414
Government agency mortgage-backed securities		2		4,826		21		1		23		0		3		4,849		21
Pooled trust preferred securities		0		0		0		3		48,786		15,902		3		48,786		15,902
Government agency collateralized mortgage obligations		2		432		2		9		4,562		59		11		4,994		61
Marketable equity securities		2		137		76		3		13		3		5		150		79
Total available-for-sale/investment portfolio		162	$	115,369	$	1,512		17	$	53,945	$	15,965		179	$	169,314	$	17,477

As of December 31, 2011

	Less than 12 Months						12 Months or Longer						Total
					Gross						Gross						Gross
			Fair		Unrealized				Fair		Unrealized				Fair		Unrealized
(000's omitted)		#	Value		Losses			#	Value		Losses			#	Value		Losses
Available-for-Sale Portfolio:
Obligations of state and political subdivisions		2	$	211	$	0		6	$	6,038	$	236		8	$	6,249	$	236
Government agency mortgage-backed securities		3		2,415		2		0		0		0		3		2,415		2
Pooled trust preferred securities		0		0		0		3		43,846		24,269		3		43,846		24,269
Government agency collateralized mortgage obligations		17		6,648		110		0		0		0		17		6,648		110
Marketable equity securities		1		123		78		3		12		4		4		135		82
Total available-for sale/investment portfolio		23	$	9,397	$	190		12	$	49,896	$	24,509		35	$	59,293	$	24,699

Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity

The amortized cost and estimated fair value of debt securities at June 30, 2012, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.  Securities not due at a single maturity date are shown separately.

	Held-to-Maturity				Available-for-Sale
	Amortized		Fair		Amortized		Fair
(000's omitted)	Cost		Value		Cost		Value
Due in one year or less	$	22,134	$	22,631	$	31,757	$	32,476
Due after one through five years		270,054		299,848		226,808		243,177
Due after five years through ten years		164,044		187,712		979,205		1,046,438
Due after ten years		163,693		177,497		521,414		545,450
Subtotal		619,925		687,688		1,759,184		1,867,541
Government agency collateralized mortgage obligations		0		0		38,713		39,910
Government agency mortgage-backed securities		27,822		29,491		277,971		298,314
Total	$	647,747	$	717,179	$	2,075,868	$	2,205,765