BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2015

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)	2015			2014			2015			2014
Change in benefit obligation:
Benefit obligation at the beginning of year	$	127,513		$	111,174		$	2,256		$	2,340
Service cost		3,324			3,530			0			0
Interest cost		5,506			5,271			87			102
Plan acquisition / amendment		2,395			2,091			0			0
Participant contributions		0			0			509			551
Deferred actuarial (gain)/loss		(2,091	)		13,005			(45	)		55
Benefits paid		(9,513	)		(7,558	)		(889	)		(792	)
Benefit obligation at end of year		127,134			127,513			1,918			2,256
Change in plan assets:
Fair value of plan assets at beginning of year		177,865			173,416			0			0
Actual return of plan assets		1,125			11,391			0			0
Participant contributions		0			0			509			551
Employer contributions		616			616			380			241
Plan acquisition		1,933			0			0			0
Benefits paid		(9,513	)		(7,558	)		(889	)		(792	)
Fair value of plan assets at end of year		172,026			177,865			0			0
Over/(Under) funded status at year end	$	44,892		$	50,352		$	(1,918	)	$	(2,256	)

Amounts recognized in the consolidated statement of condition were:
Other assets	$	56,361		$	61,437		$	0		$	0
Other liabilities		(11,469	)		(11,085	)		(1,918	)		(2,256	)
Amounts recognized in accumulated other comprehensive income (loss) (“AOCI”) were:
Net loss	$	34,016		$	26,748		$	4		$	36
Net prior service cost (credit)		2,307			2,316			(1,980	)		(2,159	)
Pre-tax AOCI		36,323			29,064			(1,976	)		(2,123	)
Taxes		(13,815	)		(11,033	)		751			808
AOCI at year end	$	22,508		$	18,031		$	(1,225	)	$	(1,315	)

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)	2015			2014		2015			2014
Prior service cost	$	(5	)	$	932	$	110		$	109
Net (gain) loss		4,482			8,492		(20	)		38
Total	$	4,477		$	9,424	$	90		$	147

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:

(000's omitted)	Pension Benefits		Post-retirement Benefits
Prior service credit	$	44	$	(179	)
Net loss		1,636		1
Total	$	1,680	$	(178	)

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
	2015			2014			2015			2014
Discount rate		4.70	%		4.50	%		4.70	%		4.50	%
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)	2015			2014			2013			2015			2014			2013
Service cost	$	3,324		$	3,530		$	3,988		$	0		$	0		$	0
Interest cost		5,506			5,271			4,120			87			102			88
Expected return on plan assets		(12,169	)		(11,922	)		(10,149	)		0			0			0
Amortization of unrecognized net loss/(gain)		1,466			(307	)		4,028			(13	)		(7	)		12
Amortization of prior service cost		8			5			75			(179	)		(179	)		(179	)
Net periodic (benefit) cost	$	(1,865	)	$	(3,423	)	$	2,062		$	(105	)	$	(84	)	$	(79	)

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
	2015			2014			2013			2015			2014			2013
Discount rate		4.50	%		5.00	%		3.40	%		4.50	%		4.80	%		3.20	%
Expected return on plan assets		7.00	%		7.00	%		7.00	%		N/A			N/A			N/A
Rate of compensation increase		3.50	%		3.50	%		3.50	%		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:

(000's omitted)	Pension Benefits		Post-retirement Benefits
2016	$	7,035	$	158
2017		7,455		156
2018		7,746		154
2019		8,241		149
2020		8,590		146
2021-2025		49,302		676

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, 2015 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	$	2,240	$	5,750	$	0	$	7,990
Equity securities:
U.S. large-cap		34,985		0		0		34,985
U.S mid/small cap		12,354		0		0		12,354
CBSI stock		8,393		0		0		8,393
International		28,136		0		0		28,136
		83,868		0		0		83,868
Fixed income securities:
Government securities		31,397		6,488		0		37,885
Investment grade bonds		14,517		0		0		14,517
High yield^(a)		17,365		0		0		17,365
		63,279		6,488		0		69,767

Other investments ^(b)		9,937		63		0		10,000

Total ^(c)	$	159,324	$	12,301	$	0	$	171,625

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 investments ^(b)		8,154		70		0		8,224

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

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

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

(c)	Excludes dividends and interest receivable totaling $0.4 million and $0.3 million at December 31, 2015 and 2014, respectively.