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                        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): January 26, 2001
  
  
                             COMMUNITY BANK SYSTEM, INC.
                            ----------------------------
              (Exact name of registrant as specified in its charter)
  
  
          Delaware                     0-11716                   16-1213679
        -----------              -------------------         ----------------
  (State or Other Jurisdiction  (Commission File Number)      (I.R.S. Employer
  of Incorporation)                                          Identification No.)
  
  
           5790 Widewaters Parkway, DeWitt, New York                13214
         ---------------------------------------------            --------
           (Address of Principal Executive Offices)               (Zip code)
  
  
                          ---------------------------------
            (Former Name or Former Address, if Changed Since Last Report)
  
  
  Item 5.       Other Events.
  
        Effective as of 5:00 p.m. on January 26, 2001, Community Bank, N.A.
  ("Community Bank"), a wholly-owned banking subsidiary of Community Bank
  System, Inc. (the "Company"), consummated its merger (the "Merger") with The
  Citizens National Bank of Malone ("Citizens National Bank"), with Community
  Bank surviving the Merger as the continuing bank.  In the Merger, the Company
  issued approximately 952,000 shares of its common stock to the former
  shareholders of Citizens National Bank, of which 648,100 shares were issued
  from the Company's treasury stock holdings and the remainder was issued from
  the authorized but unissued shares of the Company's common stock.
  
  Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits.
  (c)   Exhibits.
  
              Exhibit No.                         Description
              -----------                         -----------
  
                 99.1                       Joint Press Release, dated January
                                29, 2001, issued by Community Bank System, Inc.
                                and The Citizens National Bank of Malone.
  
  
  
  
                                    SIGNATURES
  
              Pursuant to the requirements of the Securities Exchange Act of
  1934, as amended, the Registrant has duly caused this report to be signed on
  its behalf by the undersigned hereunto duly authorized.
  
  
                                      COMMUNITY BANK SYSTEM, INC.
  
                                      By: /s/ Sanford A. Belden
                                         ----------------------
                                          Name: Sanford A. Belden
                                          Title: President and Chief Executive
  Officer
  
  Date: February 13, 2001
  
  
  
  
                                                                    Exhibit 99.1
                                                                    ------------
  
                                         For further information please contact:
                            David G. Wallace, S.V.P. and Chief Financial Officer
                                                         Office:  (315) 445-7310
                                                            Fax:  (315) 445-2997
  
                                               James A. Wears, President Banking
                                                          Office: (315) 379-4535
  FOR IMMEDIATE RELEASE                                 Fax:   (315) 379-4622
  
               CITIZENS NATIONAL AND COMMUNITY BANK COMPLETE MERGER
  
        Syracuse, New York, and Malone, New York, January 29,
  2001-----Community Bank, N.A. (CBNA) , a wholly-owned banking subsidiary of
  Community Bank System, Inc. (NYSE: CBU), is pleased to announce the
  successful completion of its merger with Citizens National Bank of  Malone.
  
        Sanford A. Belden, President and Chief Executive Officer of Community
  Bank, stated, "Citizens' five branches, with their $100 million in deposits
  and $60 million in loans, has merged into Community Bank, N.A., extending our
  strong market presence in Northern New York, a region where we have been
  banking very profitably since 1866."  The branches are located in Brushton,
  Chateaugay, Hermon, and Malone (2).  Mr. Belden welcomed the customers and
  employees in these branches, stating that the new locations strategically
  fill in or add adjacent markets to CBNA's existing branch network, strengthen
  service delivery efficiency, enlarge the marketplace for loan and fee income
  products, and bring new products to the former Citizens customers.
  
       Separately,  in late  November  2000,  CBU  announced  its first  strategic
  partnership outside of New York State with the signing of a definitive agreement
  with First  Liberty Bank Corp.  (NASDAQ-OTC:  FLIB),  a $647 million  asset,  13
  branch commercial bank based in Jermyn,  Pennsylvania,  to acquire all the stock
  ofFLIB and merge First Liberty Bank  &amp;&amp;Trust  into Community  Bank, N.A.
  (CBNA),  operating under its present name in Pennsylvania as a division of CBNA.
  Subject to shareholder and regulatory approvals,  the transaction is expected to
  close in second quarter 2001.
  
        CBU is a registered bank holding company based in DeWitt, N.Y.  Its
  wholly-owned banking subsidiary, Community Bank, N.A.
  (http://www.communitybankna.com), is the fifth-largest commercial banking
  franchise headquartered in Upstate New York, now having 72 customer
  facilities and 52 ATM's stretching diagonally from Northern New York to the
  Southern Tier and west to Lake Erie.
  
        Other subsidiaries within the CBU family are Elias Asset Management,
  Inc., an investment management firm based in Williamsville, N.Y.; Benefit
  Plans Administrative Services, Inc. (BPA), a pension administration and
  consulting firm located in Utica, N.Y. which serves sponsors of defined
  benefit and defined contribution plans; Community Investment Services, Inc.
  (CISI), a broker/dealer delivering financial products from selected locations
  within Community Bank's branch system and from offices in Jamestown and
  Lockport, N.Y.; and Community Financial Services, Inc. (CFSI), an insurance
  agency based in Olean, N.Y., specializing in long-term health care and other
  selected products.
  
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metadata_filer: {"company-data": {"conformed-name": "COMMUNITY BANK SYSTEM INC", "cik": "0000723188", "assigned-sic": "6021", "irs-number": "161213679", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-13695", "film-number": "1535557"}, "business-address": {"street1": "5790 WIDEWATERS PKWY", "city": "DEWITT", "state": "NY", "zip": "13214", "phone": "3154452282"}, "mail-address": {"street1": "5790 WIDEWATERS PARKWAY", "city": "DEWITT", "state": "NY", "zip": "13214"}}
text: 8K
  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): January 26, 2001
  
                             COMMUNITY BANK SYSTEM, INC.
                            ----------------------------
              (Exact name of registrant as specified in its charter)
  
          Delaware                     0-11716                   16-1213679
        -----------              -------------------         ----------------
  (State or Other Jurisdiction  (Commission File Number)      (I.R.S. Employer
  of Incorporation)                                          Identification No.)
  
           5790 Widewaters Parkway, DeWitt, New York                13214
         ---------------------------------------------            --------
           (Address of Principal Executive Offices)               (Zip code)
  
                          ---------------------------------
            (Former Name or Former Address, if Changed Since Last Report)
  
  Item 5.       Other Events.
  
        Effective as of 5:00 p.m. on January 26, 2001, Community Bank, N.A.
  ("Community Bank"), a wholly-owned banking subsidiary of Community Bank
  System, Inc. (the "Company"), consummated its merger (the "Merger") with The
  Citizens National Bank of Malone ("Citizens National Bank"), with Community
  Bank surviving the Merger as the continuing bank.  In the Merger, the Company
  issued approximately 952,000 shares of its common stock to the former
  shareholders of Citizens National Bank, of which 648,100 shares were issued
  from the Company's treasury stock holdings and the remainder was issued from
  the authorized but unissued shares of the Company's common stock.
  
  Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits.
  (c)   Exhibits.
  
              Exhibit No.                         Description
              -----------                         -----------
  
                 99.1                       Joint Press Release, dated January
                                29, 2001, issued by Community Bank System, Inc.
                                and The Citizens National Bank of Malone.
  
                                    SIGNATURES
  
              Pursuant to the requirements of the Securities Exchange Act of
  1934, as amended, the Registrant has duly caused this report to be signed on
  its behalf by the undersigned hereunto duly authorized.
  
                                      COMMUNITY BANK SYSTEM, INC.
  
                                      By: /s/ Sanford A. Belden
                                         ----------------------
                                          Name: Sanford A. Belden
                                          Title: President and Chief Executive
  Officer
  
  Date: February 13, 2001
  
                                                                    Exhibit 99.1
                                                                    ------------
  
                                         For further information please contact:
                            David G. Wallace, S.V.P. and Chief Financial Officer
                                                         Office:  (315) 445-7310
                                                            Fax:  (315) 445-2997
  
                                               James A. Wears, President Banking
                                                          Office: (315) 379-4535
  FOR IMMEDIATE RELEASE                                 Fax:   (315) 379-4622
  
               CITIZENS NATIONAL AND COMMUNITY BANK COMPLETE MERGER
  
        Syracuse, New York, and Malone, New York, January 29,
  2001-----Community Bank, N.A. (CBNA) , a wholly-owned banking subsidiary of
  Community Bank System, Inc. (NYSE: CBU), is pleased to announce the
  successful completion of its merger with Citizens National Bank of  Malone.
  
        Sanford A. Belden, President and Chief Executive Officer of Community
  Bank, stated, "Citizens' five branches, with their $100 million in deposits
  and $60 million in loans, has merged into Community Bank, N.A., extending our
  strong market presence in Northern New York, a region where we have been
  banking very profitably since 1866."  The branches are located in Brushton,
  Chateaugay, Hermon, and Malone (2).  Mr. Belden welcomed the customers and
  employees in these branches, stating that the new locations strategically
  fill in or add adjacent markets to CBNA's existing branch network, strengthen
  service delivery efficiency, enlarge the marketplace for loan and fee income
  products, and bring new products to the former Citizens customers.
  
       Separately,  in late  November  2000,  CBU  announced  its first  strategic
  partnership outside of New York State with the signing of a definitive agreement
  with First  Liberty Bank Corp.  (NASDAQ-OTC:  FLIB),  a $647 million  asset,  13
  branch commercial bank based in Jermyn,  Pennsylvania,  to acquire all the stock
  ofFLIB and merge First Liberty Bank  &&Trust  into Community  Bank, N.A.
  (CBNA),  operating under its present name in Pennsylvania as a division of CBNA.
  Subject to shareholder and regulatory approvals,  the transaction is expected to
  close in second quarter 2001.
  
        CBU is a registered bank holding company based in DeWitt, N.Y.  Its
  wholly-owned banking subsidiary, Community Bank, N.A.
  (http://www.communitybankna.com), is the fifth-largest commercial banking
  franchise headquartered in Upstate New York, now having 72 customer
  facilities and 52 ATM's stretching diagonally from Northern New York to the
  Southern Tier and west to Lake Erie.
  
        Other subsidiaries within the CBU family are Elias Asset Management,
  Inc., an investment management firm based in Williamsville, N.Y.; Benefit
  Plans Administrative Services, Inc. (BPA), a pension administration and
  consulting firm located in Utica, N.Y. which serves sponsors of defined
  benefit and defined contribution plans; Community Investment Services, Inc.
  (CISI), a broker/dealer delivering financial products from selected locations
  within Community Bank's branch system and from offices in Jamestown and
  Lockport, N.Y.; and Community Financial Services, Inc. (CFSI), an insurance
  agency based in Olean, N.Y., specializing in long-term health care and other
  selected products.
  
                                    # # # # #