INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2013

Amortized cost and estimated fair value of investment securities

The amortized cost and estimated fair value of investment securities as of December 31 are as follows:

	2013								2012
			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	$	0	$	0	$	0	$	0	$	548,634	$	59,081	$	0	$	607,715
Obligations of state and political subdivisions		0		0		0		0		65,742		5,850		0		71,592
Government agency mortgage-backed securities		0		0		0		0		20,578		1,079		0		21,657
Corporate debt securities		0		0		0		0		2,924		53		0		2,977
Other securities		0		0		0		0		16		0		0		16
Total held-to-maturity portfolio	$	0	$	0	$	0	$	0	$	637,894	$	66,063	$	0	$	703,957

Available-for-Sale Portfolio:
U.S. Treasury and agency securities	$	1,252,332	$	1,119	$	41,304	$	1,212,147	$	988,217	$	91,040	$	0	$	1,079,257
Obligations of state and political subdivisions		665,441		15,919		12,378		668,982		629,883		33,070		61		662,892
Government agency mortgage-backed securities		250,431		8,660		4,113		254,978		253,013		16,989		51		269,951
Pooled trust preferred securities		0		0		0		0		61,979		0		12,379		49,600
Corporate debt securities		26,932		873		218		27,587		24,136		1,265		44		25,357
Government agency collateralized mortgage obligations		21,779		362		93		22,048		32,359		1,579		3		33,935
Marketable equity securities		250		171		0		421		351		94		43		402
Total available-for-sale portfolio	$	2,217,165	$	27,104	$	58,106	$	2,186,163	$	1,989,938	$	144,037	$	12,581	$	2,121,394

Other Securities:
Federal Reserve Bank common stock	$	16,050					$	16,050	$	16,050					$	16,050
Federal Home Loan Bank common stock		12,053						12,053		38,111						38,111
Other equity securities		4,459						4,459		5,078						5,078
Total other securities	$	32,562					$	32,562	$	59,239					$	59,239

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 December 31, 2013

	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:
U.S. Treasury and agency obligations	43	$1,181,214	$41,304	0	$0	$0	43	$1,181,214	$41,304
Obligations of state and political subdivisions	302	195,526	11,774	9	4,974	604	311	200,500	12,378
Government agency mortgage-backed securities	43	68,917	3,262	6	8,713	851	49	77,630	4,113
Corporate debt securities	1	3,026	31	1	2,703	187	2	5,729	218
Government agency collateralized mortgage obligations	1	2,601	93	1	7	0	2	2,608	93
Total available-for-sale/investment portfolio	390	$1,451,284	$56,464	17	$16,397	$1,642	407	$1,467,681	$58,106

As of December 31, 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	19	$11,503	$61	0	$0	$0	19	$11,503	$61
Pooled trust preferred securities	0	0	0	3	49,600	12,379	3	49,600	12,379
Government agency mortgage-backed securities	8	14,354	51	0	0	0	8	14,354	51
Corporate debt securities	1	2,905	44	0	0	0	1	2,905	44
Government agency collateralized mortgage obligations	4	426	2	2	1,041	1	6	1,467	3
Marketable equity securities	0	0	0	1	158	43	1	158	43
Total available-for-sale/investment portfolio	32	$29,188	$158	6	$50,799	$12,423	38	$79,987	$12,581

Amortized cost and estimated fair value of debt securities by contractual maturity

The amortized cost and estimated fair value of debt securities at December 31, 2013, 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.

	Available-for-Sale
	Amortized		Fair
(000's omitted)	Cost		Value
Due in one year or less	$	40,802	$	41,307
Due after one through five years		177,826		184,053
Due after five years through ten years		1,452,472		1,414,410
Due after ten years		273,605		268,946
Subtotal		1,944,705		1,908,716
Government agency mortgage-backed securities		250,431		254,978
Government agency collateralized mortgage obligations		21,779		22,048
Total	$	2,216,915	$	2,185,742

Cash flow information on investment securities

Cash flow information on investment securities for the years ended December 31 is as follows:

(000's omitted)	2013		2012		2011
Gross gains on sales of investment securities	$	96,258	$	350	$	349
Gross losses on sales of investment securities		15,490		59		319
Proceeds from the maturities of mortgage-backed securities and CMO's		83,232		109,843		97,224
Purchases of mortgage-backed securities and CMO's		51,194		26,292		253,378

Investment securities with a carrying value of $0.978 billion and $1.176 billion at December 31, 2013 and 2012, respectively, were pledged to collateralize certain deposits and borrowings.