BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2014

Funded Status of Plans Reconciled with Amounts Reported in Consolidated Statements of Condition

Using a measurement date of December 31, the following table shows the funded status of the Company's plans reconciled with amounts reported in the Company's consolidated statements of condition:

	Pension Benefits						Post-retirement Benefits
(000's omitted)	2014			2013			2014			2013
Change in benefit obligation:
Benefit obligation at the beginning of year	$	111,174		$	123,739		$	2,340		$	3,051
Service cost		3,530			3,988			0			0
Interest cost		5,271			4,120			102			88
Plan amendment		2,091			0			0			0
Participant contributions		0			0			551			608
Deferred actuarial loss (gain)		13,005			(14,610	)		55			(301	)
Benefits paid		(7,558	)		(6,063	)		(792	)		(1,106	)
Benefit obligation at end of year		127,513			111,174			2,256			2,340
Change in plan assets:
Fair value of plan assets at beginning of year		173,416			143,661			0			0
Actual return of plan assets		11,391			25,196			0			0
Participant contributions		0			0			551			608
Employer contributions		616			10,622			241			498
Benefits paid		(7,558	)		(6,063	)		(792	)		(1,106	)
Fair value of plan assets at end of year		177,865			173,416			0			0
Over/(Under) funded status at year end	$	50,352		$	62,242		$	(2,256	)	$	(2,340	)

Amounts recognized in the consolidated balance sheet were:
Other assets	$	61,437		$	73,790		$	0		$	0
Other liabilities		(11,085	)		(11,548	)		(2,256	)		(2,340	)

Amounts recognized in accumulated other comprehensive income (loss) (“AOCI”) were:
Net loss (gain)	$	26,748		$	12,905		$	36		$	(25	)
Net prior service cost (credit)		2,316			797			(2,159	)		(2,338	)
Pre-tax AOCI		29,064			13,702			(2,123	)		(2,363	)
Taxes		(11,033	)		(5,095	)		808			901
AOCI at year end	$	18,031		$	8,607		$	(1,315	)	$	(1,462	)

Amounts Recognized in Accumulated Other Comprehensive Income, Net of Tax

Amounts recognized in accumulated other comprehensive income, net of tax, for the year ended December 31, are as follows:

	Pension Benefits					Post-retirement Benefits
(000's omitted)	2014		2013			2014		2013
Prior service cost	$	932	$	(46	)	$	109	$	109
Net (gain) loss		8,492		(20,513	)		38		(190	)
Total	$	9,424	$	(20,559	)	$	147	$	(81	)

Estimated Costs, Net of Tax, That Will Be Amortized from Accumulated Other Comprehensive (Income) Loss into Net Periodic (Income) Cost over Next Fiscal Year

The estimated costs, net of tax, that will be amortized from accumulated other comprehensive (income) loss into net periodic (income) cost over the next fiscal year are as follows:

	Pension		Post-retirement
(000's omitted)	Benefits		Benefits
Prior service credit	$	9	$	(179	)
Net loss		1,447		5
Total	$	1,456	$	(174	)

Weighted-Average Assumptions Used to Determine Benefit Obligations

The weighted-average assumptions used to determine the benefit obligations as of December 31 are as follows:

	Pension Benefits						Post-retirement Benefits
	2014			2013			2014			2013
Discount rate		4.50	%		5.00	%		4.50	%		4.80	%
Expected return on plan assets		7.00	%		7.00	%		N/	A		N/	A
Rate of compensation increase		3.50	%		3.50	%		N/	A		N/	A

Net Periodic Benefit Cost

The net periodic benefit cost as of December 31 is as follows:

	Pension Benefits									Post-retirement Benefits
(000's omitted)	2014			2013			2012			2014			2013			2012
Service cost	$	3,530		$	3,988		$	3,392		$	0		$	0		$	0
Interest cost		5,271			4,120			4,393			102			88			114
Expected return on plan assets		(11,922	)		(10,149	)		(9,196	)		0			0			0
Amortization of unrecognized net (gain) loss		(307	)		4,028			3,687			(7	)		12			11
Amortization of prior service cost		5			75			(147	)		(179	)		(179	)		(822	)
Net periodic benefit cost	$	(3,423	)	$	2,062		$	2,129		$	(84	)	$	(79	)	$	(697	)

Weighted-Average Assumptions Used to Determine Net Periodic Pension Cost

The weighted-average assumptions used to determine the net periodic pension cost for the years ended December 31 are as follows:

	Pension Benefits									Post-retirement Benefits
	2014			2013			2012			2014			2013			2012
Discount rate		5.00	%		3.40	%		4.10	%		4.80	%		3.20	%		3.90	%
Expected return on plan assets		7.00	%		7.00	%		7.50	%		N/	A		N/	A		N/	A
Rate of compensation increase		3.50	%		3.50	%		4.00	%		N/	A		N/	A		N/	A

Amount of Expected Benefit Payments

The amount of benefit payments that are expected to be paid over the next ten years are as follows:

	Pension		Post-retirement
(000's omitted)	Benefits		Benefits
2015	$	6,619	$	197
2016		6,851		180
2017		7,236		178
2018		7,589		177
2019		8,092		165
2020-2024		45,520		749

Fair Value of Defined Benefit Plan Assets by Asset Category

The fair values of the Company’s defined benefit pension plan assets at December 31, 2014 by asset category are as follows:

Asset category (000’s omitted)	Quoted Prices in Active Markets for Identical Assets Level 1		Significant Observable Inputs Level 2		Significant Unobservable Inputs Level 3		Total

Money Market Accounts	$	431	$	12,470	$	0	$	12,901
Equity securities:
U.S. large-cap		51,197		0		0		51,197
U.S mid/small cap		14,026		0		0		14,026
CBSI stock		15,354		0		0		15,354
International		28,891		0		0		28,891
		109,468		0		0		109,468

Fixed income securities:
Government securities		6,491		6,646		0		13,137
Investment grade bonds		21,539		0		0		21,539
International bonds		5,085		0		0		5,085
High yield^(a)		7,197		0		0		7,197
		40,312		6,646		0		46,958

Other types of investments:
Other investments ^(b)		8,154		70		0		8,224

Total ^(c)	$	158,365	$	19,186	$	0	$	177,551

The fair values of the Company’s defined benefit pension plan assets at December 31, 2013 by asset category are as follows:

Asset category (000’s omitted)	Quoted Prices in Active Markets for Identical Assets Level 1		Significant Observable Inputs Level 2		Significant Unobservable Inputs Level 3		Total

Money Market Accounts	$	709	$	10,231	$	0	$	10,940
Equity securities:
U.S. large-cap		50,513		0		0		50,513
U.S mid/small cap		19,308		0		0		19,308
CBSI stock		9,913		0		0		9,913
International		33,485		0		0		33,485
		113,219		0		0		113,219

Fixed income securities:
Government securities		7,676		6,814		0		14,490
Investment grade bonds		17,400		0		0		17,400
International bonds		2,712		0		0		2,712
High yield^(a)		14,243		0		0		14,243
		42,031		6,814		0		48,845

Other types of investments:
Other investments ^(b)		0		77		0		77

Total ^(c)	$	155,959	$	17,122	$	0	$	173,081

(a)	This category is exchange-traded funds representing a diversified index of high yield corporate bonds.

(b)	This category is comprised of non-traditional investment classes including private equity funds and alternative exchange funds.

(c)	Excludes dividends and interest receivable totaling $314,000 and $335,000 at December 31, 2014 and 2013, respectively.