GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2014

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, 2014							December 31, 2013
	Gross					Net		Gross					Net
	Carrying		Accumulated			Carrying		Carrying		Accumulated			Carrying
(000's omitted)	Amount		Amortization			Amount		Amount		Amortization			Amount
Amortizing intangible assets:
Core deposit intangibles	$	40,326	$	(30,303	)	$	10,023	$	40,326	$	(26,866	)	$	13,460
Other intangibles		10,019		(8,243	)		1,776		9,441		(7,393	)		2,048
Total amortizing intangibles	$	50,345	$	(38,546	)	$	11,799	$	49,767	$	(34,259	)	$	15,508

Estimated Aggregate Amortization Expense for Each of Five Succeeding Fiscal Years

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

2015	$	3,408
2016		2,612
2017		1,908
2018		1,424
2019		1,002
Thereafter		1,445
Total	$	11,799

Components of Goodwill

Shown below are the components of the Company’s goodwill at December 31, 2014 and 2013:

	Year Ended					Year Ended					Year Ended
(000’s omitted)	December 31, 2012			Activity		December 31, 2013			Activity		December 31, 2014
Goodwill	$	374,527		$	5,288	$	379,815		$	183	$	379,998
Accumulated impairment		(4,824	)		0		(4,824	)		0		(4,824	)
Goodwill, net	$	369,703		$	5,288	$	374,991		$	183	$	375,174

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)	2014			2013
Carrying value before valuation allowance at beginning of period	$	1,218		$	1,458
Additions		315			289
Amortization		(444	)		(529	)
Carrying value before valuation allowance at end of period		1,089			1,218
Valuation allowance balance at beginning of period		0			(430	)
Impairment charges		0			(111	)
Impairment recoveries		0			541
Valuation allowance balance at end of period		0			0
Net carrying value at end of period	$	1,089		$	1,218
Fair value of MSRs at end of period	$	1,616		$	1,495
Principal balance of loans sold during the year	$	25,728		$	25,179
Principal balance of loans serviced for others	$	302,895		$	322,030
Custodial escrow balances maintained in connection with loans serviced for others	$	4,320		$	4,519

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:

	2014			2013
Weighted-average contractual life (in years)		19.6			19.2
Weighted-average constant prepayment rate (CPR)		12.8	%		18.0	%
Weighted-average discount rate		3.2	%		4.5	%