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<P style="font-size: 14pt" align="center"><B>UNITED STATES<BR>
SECURITIES AND
EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P style="font-size: 18pt" align="center"><B>FORM 8-K</B>

<P style="font-size: 12pt" align="center"><B>CURRENT REPORT<BR>
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P style="font-size: 10pt" align="center"><B>Date of Report (Date of earliest
event reported): February 24, 2009</B>

<P style="font-size: 24pt" align="center"><B>CORTLAND BANCORP<BR>
</B><FONT
style="font-size: 10pt">(Exact name of registrant as specified in its charter)
</FONT>
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cellpadding="0" width="100%" border="0">

 <TR>
  <TD width="32%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="33%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="32%">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>Ohio</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>000-13814</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>34-1451118</B></TD>
 </TR>
 <TR valign="top">
  <TD>(State or other Jurisdiction of Incorporation)</TD>
  <TD>&nbsp;</TD>
  <TD>(Commission File Number)</TD>
  <TD>&nbsp;</TD>
  <TD>(IRS Employer Identification No.)</TD>
 </TR>

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cellpadding="0" width="100%" border="0">

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  <TD width="49%">&nbsp;</TD>
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  <TD width="49%">&nbsp;</TD>
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 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>194 West Main Street,
Cortland, Ohio <BR>
</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>44410</B></TD>
 </TR>
 <TR valign="top">
  <TD>(Address of Principal Executive Offices)</TD>
  <TD>&nbsp;</TD>
  <TD>(Zip Code)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="center">Registrant&#8217;s telephone number,
including area code: <B>(330) 637-8040</B>
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cellpadding="0" width="30%" border="0">

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  <TD width="100%">&nbsp;</TD>
 </TR>
 <TR>
  <TD style="border-bottom: #000000 1px solid" nowrap><B>Not
Applicable<BR>
</B></TD>
 </TR>
 <TR>
  <TD nowrap>(Former name or former address if changed since last report.)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="left">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:

<P style="font-size: 10pt" align="left"><FONT face="Wingdings">o</FONT> Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)<BR>
<BR>
<FONT face="Wingdings">o</FONT> Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>



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<P style="font-size: 10pt"
align="left"><U>Item&nbsp;2.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Results of
Operations and Financial Condition.</U> <BR>
&nbsp;

<P style="font-size: 10pt; text-indent: 4%" align="left">Chairman K. Ray Mahan
announced that at the February&nbsp;24, 2009 meeting of the Board of Directors
of Cortland Bancorp (the &#8220;Company&#8221;) a 1% stock dividend was
declared. The dividend is payable to shareholders of record as of March&nbsp;9,
2009. Distribution to shareholders will occur on April&nbsp;1, 2009. The press
release regarding this dividend is attached hereto as Exhibit&nbsp;99.

<P style="font-size: 10pt; text-indent: 4%" align="left">This announcement may
contain forward-looking statements that involve risk and uncertainties,
including changes in general economic and financial market conditions and the
Company&#8217;s ability to execute its business plans. Although management
believes the expectations reflected in such statements are reasonable, actual
results may differ materially. &nbsp;

<P style="font-size: 10pt; text-indent: 4%" align="left">The information in
this Current Report on Form&nbsp;8-K, including Exhibit&nbsp;99 included
herewith, is being furnished and shall not be deemed to be &#8220;filed&#8221;
for purposes of Section&nbsp;18 of the Securities Exchange Act of 1934 (the
&#8220;Exchange Act&#8221;) or otherwise subject to the liability of that
Section, nor shall such information be deemed to be incorporated by reference
in any registration statement or other document filed under the Securities Act
of 1933 or the Exchange Act, except as otherwise stated in such filing. &nbsp;

<P style="font-size: 10pt; text-indent: 4%" align="left">Exhibit&nbsp;99
&#8211; Press Release dated March&nbsp;2, 2009.

<P style="font-size: 10pt; text-indent: 4%" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">2
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<P style="font-size: 10pt" align="center">SIGNATURES

<P style="font-size: 10pt; text-indent: 4%" align="left">Pursuant to the
requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.


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  <TD>&nbsp;</TD>
  <TD colspan="2" align="left">CORTLAND BANCORP</TD>
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<TR><TD>&nbsp;</TD></TR>


<TR valign="bottom">
  <TD>&nbsp;</TD>
  <TD align="left">By: </TD>
  <TD align="left" style="border-bottom: #000000 1px solid">/s/Lawrence A. Fantauzzi</TD>
</TR>

<TR valign="bottom">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align="left">Lawrence A. Fantauzzi, President</TD>
</TR>
</TABLE>

<P style="font-size: 10pt" align="left">Date: March&nbsp;2, 2009

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">3
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<P style="font-size: 10pt" align="center">EXHIBIT INDEX



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  <TD align="left" style="border-bottom: #000000 1px solid"><B>Exhibit<BR>Number</B></TD>
  <TD>&nbsp;</TD>
  <TD align="left" style="border-bottom: #000000 1px solid"><B>Description</B></TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

 <TR valign="bottom">
  <TD align ="left">Exhibit 99</TD>
  <TD>&nbsp;</TD>
  <TD align ="left">Press Release dated March&nbsp;2, 2009.</TD>
</TR>
</TABLE>

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">4
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{"company-data": {"conformed-name": "CORTLAND BANCORP INC", "cik": "0000774569", "assigned-sic": "6035", "irs-number": "341451118", "state-of-incorporation": "OH", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-13814", "film-number": "09647413"}, "business-address": {"street1": "194 W MAIN ST", "city": "CORTLAND", "state": "OH", "zip": "44410", "phone": "2166378040"}, "mail-address": {"street1": "194 WEST MAIN STREET", "city": "CORTLAND", "state": "OH", "zip": "44410"}}
Filed by Bowne Pure Compliance
UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest
event reported): February 24, 2009
CORTLAND BANCORP
(Exact name of registrant as specified in its charter)
Ohio
000-13814
34-1451118
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
194 West Main Street,
Cortland, Ohio
44410
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number,
including area code:
(330) 637-8040
Not
Applicable
(Former name or former address if changed since last report.)
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.02.      Results of
Operations and Financial Condition.
Chairman K. Ray Mahan
announced that at the February 24, 2009 meeting of the Board of Directors
of Cortland Bancorp (the "Company") a 1% stock dividend was
declared. The dividend is payable to shareholders of record as of March 9,
2009. Distribution to shareholders will occur on April 1, 2009. The press
release regarding this dividend is attached hereto as Exhibit 99.
This announcement may
contain forward-looking statements that involve risk and uncertainties,
including changes in general economic and financial market conditions and the
Company's ability to execute its business plans. Although management
believes the expectations reflected in such statements are reasonable, actual
results may differ materially.
The information in
this Current Report on Form 8-K, including Exhibit 99 included
herewith, is being furnished and shall not be deemed to be "filed"
for purposes of Section 18 of the Securities Exchange Act of 1934 (the
"Exchange Act") or otherwise subject to the liability of that
Section, nor shall such information be deemed to be incorporated by reference
in any registration statement or other document filed under the Securities Act
of 1933 or the Exchange Act, except as otherwise stated in such filing.
Exhibit 99
– Press Release dated March 2, 2009.
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
CORTLAND BANCORP
By:
/s/Lawrence A. Fantauzzi
Lawrence A. Fantauzzi, President
Date: March 2, 2009
EXHIBIT INDEX
Exhibit
Number
Description
Exhibit 99
Press Release dated March 2, 2009.