ACQUISITIONS (Tables)

3 Months Ended

Mar. 31, 2020

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:

	2019
(000s omitted)	Kinderhook			Other (1)		Total
Consideration paid :
Cash	$	93,384		$	1,650	$	95,034
Total net consideration paid		93,384			1,650		95,034
Recognized amounts of identifiable assets acquired and liabilities assumed:
Cash and cash equivalents		90,381			0		90,381
Investment securities		39,770			0		39,770
Loans		479,877			0		479,877
Premises and equipment		13,970			0		13,970
Accrued interest and fees receivable		1,130			0		1,130
Other assets		14,109			0		14,109
Core deposit intangibles		3,573			0		3,573
Other intangibles		0			1,650		1,650
Deposits		(568,161	)		0		(568,161	)
Other liabilities		(2,922	)		0		(2,922	)
Other Federal Home Loan Bank borrowings		(2,420	)		0		(2,420	)
Subordinated notes payable		(13,831	)		0		(13,831	)
Subordinated debt held by unconsolidated subsidiary trusts		(2,062	)		0		(2,062	)
Total identifiable assets, net		53,414			1,650		55,064
Goodwill	$	39,970		$	0	$	39,970

⁽¹⁾ Includes amounts related to both acquisitions completed by CISI in 2019.

Loans Acquired

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

(000s omitted)	Acquired Impaired Loans			Acquired Non-impaired Loans			Total Acquired Loans
Contractually required principal and interest at acquisition	$	13,350		$	636,384		$	649,734
Contractual cash flows not expected to be collected		(4,176	)		(5,472	)		(9,648	)
Expected cash flows at acquisition		9,174			630,912			640,086
Interest component of expected cash flows		(551	)		(159,658	)		(160,209	)
Fair value of acquired loans	$	8,623		$	471,254		$	479,877