GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2022

GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS

Schedule of gross carrying amount and accumulated amortization for each type of identifiable intangible asset

	December 31, 2022						December 31, 2021
	Gross				Net		Gross				Net
	Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
(000’s omitted)	Amount		Amortization		Amount		Amount		Amortization		Amount
Amortizing intangible assets:
Core deposit intangibles	$	77,373	$	(65,069)	$	12,304	$	69,403	$	(60,316)	$	9,087
Other intangibles		119,813		(71,121)		48,692		116,799		(60,660)		56,139
Total amortizing intangibles	$	197,186	$	(136,190)	$	60,996	$	186,202	$	(120,976)	$	65,226

Schedule of 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 (000’s omitted):

Year	Amount
2023	$	13,698
2024		11,601
2025		9,883
2026		8,745
2027		3,333
Thereafter		13,736
Total	$	60,996

Schedule of components of goodwill

		December 31,			December 31,				December 31,
(000’s omitted)		2020	Activity		2021		Activity		2022
Goodwill	$	793,708	$	5,401	$	799,109	$	42,732	$	841,841

Schedule of changes in carrying value of MSRs and associated valuation allowance

(000’s omitted)	2022		2021
Carrying value before valuation allowance at beginning of period	$	1,144	$	1,430
Additions		83		233
Acquisitions		2,879		0
Amortization		(801)		(519)
Carrying value before valuation allowance at end of period		3,305		1,144
Valuation allowance balance at beginning of period		0		(219)
Impairment charges		(676)		(55)
Impairment recoveries		0		274
Valuation allowance balance at end of period		(676)		0
Net carrying value at end of period	$	2,629	$	1,144
Fair value of MSRs at end of period	$	5,107	$	1,469
Principal balance of mortgage loans sold during the year	$	5,309	$	20,133
Principal balance of loans serviced for others	$	583,109	$	296,506
Custodial escrow balances maintained in connection with loans serviced for others	$	10,534	$	4,934

Schedule 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:

	2022		2021
Weighted-average contractual life (in years)	21.6		21.4
Weighted-average constant prepayment rate (CPR)	7.7	%	24.5	%
Weighted-average discount rate	4.9	%	2.6	%