ACQUISITIONS (Tables)

9 Months Ended

Sep. 30, 2018

ACQUISITIONS [Abstract]

Estimated Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair value of the assets acquired and liabilities assumed after considering the measurement period adjustments described above:

	2018			2017
(000s omitted)	Other (1)			NRS			Merchants			Other (2)			Total
Consideration paid :
Cash	$	1,753		$	70,073		$	82,898		$	6,775		$	159,746
Community Bank System, Inc. common stock		0			78,483			262,254			2,395			343,132
Total net consideration paid		1,753			148,556			345,152			9,170			502,878
Recognized amounts of identifiable assets acquired and liabilities assumed:
Cash and cash equivalents		16			11,063			40,730			339			52,132
Investment securities		0			20,294			370,648			0			390,942
Loans		0			0			1,488,157			0			1,488,157
Premises and equipment		10			411			16,608			27			17,046
Accrued interest receivable		0			72			4,773			0			4,845
Other assets		105			8,088			51,585			583			60,256
Core deposit intangibles		0			0			23,214			0			23,214
Other intangibles		1,343			60,200			2,857			5,626			68,683
Deposits		0			0			(1,448,406	)		0			(1,448,406	)
Other liabilities		(31	)		(26,828	)		(11,750	)		(1,131	)		(39,709	)
Short-term advances		0			0			(80,000	)		0			(80,000	)
Securities sold under agreement to repurchase, short-term		0			0			(278,076	)		0			(278,076	)
Long-term debt		0			0			(3,615	)		0			(3,615	)
Subordinated debt held by unconsolidated subsidiary trusts		0			0			(20,619	)		0			(20,619	)
Total identifiable assets, net		1,443			73,300			156,106			5,444			234,850
Goodwill	$	310		$	75,256		$	189,046		$	3,726		$	268,028

⁽¹⁾ Includes amounts related to the Penna, Styles Bridges and HR Consultants acquisitions.

⁽²⁾ Includes amounts related to the BAS, Dryfoos, NECM and GBR acquisitions.

Summary of Loans Acquired

The following is a summary of the loans acquired from Merchants at the date of acquisition:

(000s omitted)	Acquired Impaired Loans			Acquired Non-impaired Loans			Total Acquired Loans
Contractually required principal and interest at acquisition	$	15,454		$	1,872,574		$	1,888,028
Contractual cash flows not expected to be collected		(5,385	)		(14,753	)		(20,138	)
Expected cash flows at acquisition		10,069			1,857,821			1,867,890
Interest component of expected cash flows		(793	)		(378,940	)		(379,733	)
Fair value of acquired loans	$	9,276		$	1,478,881		$	1,488,157