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INVESTMENT SECURITIES (Tables)
 12 Months Ended
Dec. 31, 2015
INVESTMENT SECURITIES [Abstract]  
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:

  
2015
  
2014
 
(000's omitted)
 
Amortized
Cost
  
Gross
 Unrealized
Gains
  
Gross
Unrealized
Losses
  
Estimated
Fair
Value
  
Amortized
Cost
  
Gross
Unrealized
 Gains
  
Gross
Unrealized
Losses
  
Estimated
 Fair
Value
 
Available-for-Sale Portfolio:
                        
U.S. Treasury and agency securities
 
$
1,866,819
  
$
35,186
  
$
2,027
  
$
1,899,978
  
$
1,479,134
  
$
39,509
  
$
910
  
$
1,517,733
 
Obligations of state and political subdivisions
  
640,455
   
26,487
   
59
   
666,883
   
645,398
   
26,749
   
244
   
671,903
 
Government agency mortgage-backed securities
  
205,220
   
6,906
   
1,261
   
210,865
   
228,971
   
9,782
   
1,025
   
237,728
 
Corporate debt securities
  
16,672
   
66
   
58
   
16,680
   
26,803
   
363
   
75
   
27,091
 
Government agency collateralized mortgage obligations
  
12,862
   
446
   
0
   
13,308
   
17,330
   
695
   
0
   
18,025
 
Marketable equity securities
  
250
   
163
   
14
   
399
   
250
   
195
   
0
   
445
 
Total available-for-sale portfolio
 
$
2,742,278
  
$
69,254
  
$
3,419
  
$
2,808,113
  
$
2,397,886
  
$
77,293
  
$
2,254
  
$
2,472,925
 
                                 
Other Securities:
                                
Federal Home Loan Bank common stock
 
$
19,317
          
$
19,317
  
$
19,553
          
$
19,553
 
Federal Reserve Bank common stock
  
16,050
           
16,050
   
16,050
           
16,050
 
Other equity securities
  
4,460
           
4,460
   
4,446
           
4,446
 
Total other securities
 
$
39,827
          
$
39,827
  
$
40,049
          
$
40,049
 
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, 2015
 
 
Less than 12 Months
  
12 Months or Longer
  
Total
 
(000's omitted)
  
#
  
Fair
Value
  
Gross
Unrealized
Losses
   
#
  
Fair
Value
  
Gross
Unrealized
Losses
   
#
  
Fair
Value
  
Gross
Unrealized
Losses
 
                               
Available-for-Sale Portfolio:
                              
U.S. Treasury and agency obligations
  
9
  
$
353,844
  
$
2,027
   
0
  
$
0
  
$
0
   
9
  
$
353,844
  
$
2,027
 
Obligations of state and political subdivisions
  
18
   
8,804
   
34
   
2
   
735
   
25
   
20
   
9,539
   
59
 
Government agency mortgage-backed securities
  
17
   
24,178
   
161
   
19
   
30,103
   
1,100
   
36
   
54,281
   
1,261
 
Corporate debt securities
  
1
   
3,024
   
0
   
1
   
2,710
   
58
   
2
   
5,734
   
58
 
Government agency collateralized mortgage obligations
  
0
   
0
   
0
   
2
   
3
   
0
   
2
   
3
   
0
 
Marketable equity securities
  
1
   
87
   
14
   
0
   
0
   
0
   
1
   
87
   
14
 
Total available-for-sale/investment portfolio
  
46
  
$
389,937
  
$
2,236
   
24
  
$
33,551
  
$
1,183
   
70
  
$
423,488
  
$
3,419
 
 
As of December 31, 2014
 
 
Less than 12 Months
  
12 Months or Longer
  
Total
 
(000's omitted)
  
#
  
Fair
Value
  
Gross
Unrealized
Losses
   
#
  
Fair
Value
  
Gross
Unrealized
Losses
   
#
  
Fair
Value
  
Gross
Unrealized
Losses
 
                               
Available-for-Sale Portfolio:
                              
U.S. Treasury and agency obligations
  
0
  
$
0
  
$
0
   
4
  
$
102,363
  
$
910
   
4
  
$
102,363
  
$
910
 
Obligations of state and political subdivisions
  
23
   
13,413
   
34
   
46
   
26,490
   
210
   
69
   
39,903
   
244
 
Government agency mortgage-backed securities
  
3
   
5
   
0
   
19
   
34,770
   
1,025
   
22
   
34,775
   
1,025
 
Corporate debt securities
  
1
   
3,040
   
1
   
1
   
2,755
   
74
   
2
   
5,795
   
75
 
Government agency collateralized mortgage obligations
  
1
   
0
   
0
   
1
   
5
   
0
   
2
   
5
   
0
 
Total available-for-sale/investment portfolio
  
28
  
$
16,458
  
$
35
   
71
  
$
166,383
  
$
2,219
   
99
  
$
182,841
  
$
2,254
 
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, 2015, 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
Cost
  
Fair
Value
 
(000's omitted)
Due in one year or less
 
$
41,806
  
$
42,150
 
Due after one through five years
  
726,690
   
744,452
 
Due after five years through ten years
  
1,517,966
   
1,547,677
 
Due after ten years
  
237,484
   
249,262
 
Subtotal
  
2,523,946
   
2,583,541
 
Government agency mortgage-backed securities
  
205,220
   
210,865
 
Government agency collateralized mortgage obligations
  
12,862
   
13,308
 
Total
 
$
2,742,028
  
$
2,807,714
 
Cash Flow Information on Investment Securities
Cash flow information on investment securities for the years ended December 31 is as follows:

(000's omitted)
 
2015
  
2014
  
2013
 
Gross gains on sales of investment securities
 
$
3
  
$
0
  
$
96,258
 
Gross losses on sales of investment securities
  
7
   
0
   
15,490
 
Proceeds from the maturities of mortgage-backed securities and CMO's
  
45,432
   
46,791
   
83,232
 
Purchases of mortgage-backed securities and CMO's
  
18,477
   
22,234
   
51,194