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COMMUNITY BANK SYSTEM COMPLETES MERGER OF BANKS

 COMMUNITY BANK SYSTEM COMPLETES MERGER OF BANKS
 SYRACUSE, N.Y., Dec. 30 /PRNewswire/ -- Edwin J. Lyons, president


and chief executive officer of Community Bank System, Inc. (NASDAQ: CBSI), today announced that final regulatory approval has been received for the consolidation of its five affiliate banks which will be completed as of Jan. 1, 1992. The company has combined its five affiliate banks to create a single streamlined and cost-effective bank known as Community Bank, N.A.
 CBSI is a registered multibank holding company based in DeWitt, N.Y., with total assets of $630 million. Prior to the reorganization, the company owned and operated five affiliate banks consisting of the St. Lawrence National Bank in Canton, the Exchange National Bank in Olean, Community National Bank in Addison, Horizon Bank, N.A. in Waterloo, and the Nichols National Bank in Nichols. Lyons stated that the merger of the banks is part of a major restructuring program to improve the company's profitability by consolidating its five independent commercial banks into a single upstate New York bank and thereby eliminating redundant administrative functions and expense throughout the CBSI network.
 While the name, Community Bank, N.A., will be new, Lyons stated that the bank will continue its steadfast commitment to community banking with personal attention and service to its customers throughout its market areas of northern New York, the Finger Lakes region, the southern tier and southwestern New York.
 -0- 12/30/91
 /CONTACT: Edwin J. Lyons, president and chief executive officer of Community Bank System, 315-445-2282/
 (CBSI) CO: Community Bank System, Inc. ST: New York IN: FIN SU: TNM


CK-OS -- NY024 -- 5646 12/30/91 12:30 EST
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Publication:PR Newswire
Date:Dec 30, 1991
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