GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2015

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, 2015							December 31, 2014
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
(000's omitted)
Amortizing intangible assets:
Core deposit intangibles	$	40,481	$	(30,692	)	$	9,789	$	37,911	$	(27,888	)	$	10,023
Other intangibles		17,565		(6,460	)		11,105		7,377		(5,601	)		1,776
Total amortizing intangibles	$	58,046	$	(37,152	)	$	20,894	$	45,288	$	(33,489	)	$	11,799

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:

2016	$	5,415
2017		4,357
2018		3,518
2019		2,742
2020		2,087
Thereafter		2,775
Total	$	20,894

Components of Goodwill

Shown below are the components of the Company’s goodwill at December 31, 2015 and 2014:

(000’s omitted)	Year Ended December 31, 2013			Activity		Year Ended December 31, 2014			Activity		Year Ended December 31, 2015
Goodwill	$	379,815		$	183	$	379,998		$	88,078	$	468,076
Accumulated impairment		(4,824	)		0		(4,824	)		0		(4,824	)
Goodwill, net	$	374,991		$	183	$	375,174		$	88,078	$	463,252

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)	2015			2014
Carrying value before valuation allowance at beginning of period	$	1,089		$	1,218
Additions		403			315
Oneida acquisition		389			0
Amortization		(409	)		(444	)
Carrying value before valuation allowance at end of period		1,472			1,089
Valuation allowance balance at beginning of period		0			0
Impairment charges		(133	)		0
Impairment recoveries		133			0
Valuation allowance balance at end of period		0			0
Net carrying value at end of period	$	1,472		$	1,089
Fair value of MSRs at end of period	$	1,962		$	1,616
Principal balance of loans sold during the year	$	35,491		$	25,728
Principal balance of loans serviced for others	$	377,909		$	302,895
Custodial escrow balances maintained in connection with loans serviced for others	$	5,700		$	4,320

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:

	2015			2014
Weighted-average contractual life (in years)		19.9			19.6
Weighted-average constant prepayment rate (CPR)		14.9	%		12.8	%
Weighted-average discount rate		3.3	%		3.2	%