PARENT COMPANY STATEMENTS (Tables)

12 Months Ended

Dec. 31, 2015

The condensed balance sheets of the parent company at December 31 are as follows:

(000's omitted)	2015		2014
Assets:
Cash and cash equivalents	$	97,317	$	106,957
Investment securities		3,576		3,622
Investment in and advances to subsidiaries		1,148,062		984,561
Other assets		9,996		9,608
Total assets	$	1,258,951	$	1,104,748

Liabilities and shareholders' equity:
Accrued interest and other liabilities	$	16,158	$	14,722
Borrowings		102,146		102,122
Shareholders' equity		1,140,647		987,904
Total liabilities and shareholders' equity	$	1,258,951	$	1,104,748

The condensed statements of income of the parent company for the years ended December 31 is as follows:

(000's omitted)	2015			2014		2013
Revenues:
Dividends from subsidiaries	$	76,000		$	61,100	$	66,000
Interest and dividends on investments		94			88		91
Other income		0			0		9
Total revenues		76,094			61,188		66,100
Expenses:
Interest on borrowings		2,537			2,477		2,520
Other expenses		19			37		61
Total expenses		2,556			2,514		2,581

Income before tax benefit and equity in undistributed net income of subsidiaries		73,538			58,674		63,519
Income tax (expense)/benefit		(572	)		581		862
Income before equity in undistributed net income of subsidiaries		72,966			59,255		64,381
Equity in undistributed net income of subsidiaries		18,264			32,098		14,448
Net income	$	91,230		$	91,353	$	78,829
Comprehensive income/(loss)	$	79,745		$	148,619	$	(2,051	)

The statements of cash flows of the parent company for the years ended December 31 is as follows:

(000's omitted)	2015			2014			2013
Operating activities:
Net income	$	91,230		$	91,353		$	78,829
Adjustments to reconcile net income to net cash provided by operating activities (Gain)/loss on sale of investments		0			0			(9	)
Equity in undistributed net income of subsidiaries		(18,264	)		(32,098	)		(14,448	)
Net change in other assets and other liabilities		(27	)		(479	)		(221	)
Net cash provided by operating activities		72,939			58,776			64,151
Investing activities:
Proceeds from sale of investment securities		0			3			114
Cash received for acquisition, net of cash acquired of $81,772, 0, and 0, respectively		25,505			0			0
Capital contributions to subsidiaries		(80,231	)		0			0
Net cash (used in) provided by investing activities		(54,726	)		3			114
Financing activities:
Issuance of common stock		13,975			13,410			19,200
Purchase of treasury stock		(9,126	)		(4,368	)		0
Sale of treasury stock		16,571			1,531			0
Cash dividends paid		(49,273	)		(46,178	)		(43,482	)
Net cash provided by (used in) financing activities		(27,853	)		(35,605	)		(24,282	)
Change in cash and cash equivalents		(9,640	)		23,174			39,983
Cash and cash equivalents at beginning of year		106,957			83,783			43,800
Cash and cash equivalents at end of year	$	97,317		$	106,957		$	83,783

Supplemental disclosures of cash flow information:
Cash paid for interest	$	2,523		$	2,473		$	2,521
Supplemental disclosures of noncash financing activities
Dividends declared and unpaid	$	13,605		$	12,254		$	11,332
Capital contributions to subsidiaries		76,461			0			0
Common stock issued for acquisition		102,202			0			0