content: <html>
  <head>
      <title>cbna20118kmergestockelection.htm</title>
      <!-- Licensed to: cbsinc375 -->
      <!-- Document Created using EDGARizer 5.3.1.0 -->
      <!-- Copyright 1995 - 2011 Thomson Reuters. All rights reserved. -->
  </head>
  
  <body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
  <br>
  <br>
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">UNITED STATES</font></div>
  
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">SECURITIES AND EXCHANGE COMMISSION</font></div>
  
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">WASHINGTON, D.C.&#160;&#160;20549</font></div>
  
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">__________________</font></div>
  
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">FORM 8-K</font></div>
  
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CURRENT REPORT</font></div>
  
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></div>
  
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><br>
  &#160;</div>
  
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
  
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
  <div align="center">
  <table bgcolor="white" cellpadding="0" cellspacing="0" width="85%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
  <tr>
  <td colspan="2" width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;Date of Report (Date of earliest event reported):&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">May 16, 2011</font></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  </tr><tr>
  <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  </tr><tr>
  <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  <td width="33%">
  
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Community Bank System, Inc.</font></font></div>
  </td>
  <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  </tr><tr>
  <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  <td width="33%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Exact name of registrant as specified in its charter)</font></font></td>
  <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  </tr><tr>
  <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  </tr><tr>
  <td width="33%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Delaware&#160;</font></font></td>
  <td width="33%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">001-13695</font></font></td>
  <td width="33%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">16-1213679</font></font></td>
  </tr><tr>
  <td width="33%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;(State or other jurisdiction of incorporation)&#160;</font></td>
  <td width="33%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;(Commission File Number)</font></td>
  <td width="33%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;(IRS Employer Identification No.)</font></td>
  </tr><tr>
  <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  </tr><tr>
  <td width="33%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">5790 Widewaters Parkway, DeWitt, New York</font></font></td>
  <td width="33%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">13214</font></font></td>
  <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  </tr><tr>
  <td width="33%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;(Address of principal executive offices)</font></td>
  <td width="33%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;(Zip Code)</font></td>
  <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  </tr><tr>
  <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  </tr><tr>
  <td colspan="2" width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;Registrant&#8217;s telephone number, including area code: <font style="DISPLAY: inline; FONT-WEIGHT: bold">(315) 445-2282</font></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  </tr><tr>
  <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  </tr></table>
  </div>
  </div>
  
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
  <div align="center">
  <table bgcolor="white" cellpadding="0" cellspacing="0" width="85%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
  <tr>
  <td width="100%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;<font style="DISPLAY: inline">Not Applicable</font></font></td>
  </tr><tr>
  <td width="100%">
  
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Former name or former address, if changed since last report)</font></font></div>
  </td>
  </tr><tr>
  <td width="100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  </tr><tr>
  <td width="100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;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:</font></td>
  </tr><tr>
  <td width="100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  </tr><tr>
  <td width="100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;<font style="DISPLAY: inline;" face="Wingdings">o</font><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></td>
  </tr><tr>
  <td width="100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  </tr><tr>
  <td width="100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;<font style="DISPLAY: inline;" face="Wingdings">o</font>&#160;&#160;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></td>
  </tr><tr>
  <td width="100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  </tr><tr>
  <td width="100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;<font style="DISPLAY: inline;" face="Wingdings">o</font>&#160;&#160;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></td>
  </tr><tr>
  <td width="100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  </tr><tr>
  <td width="100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;<font style="DISPLAY: inline;" face="Wingdings">o</font>&#160;&#160;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></td>
  </tr><tr>
  <td width="100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  </tr><tr>
  <td width="100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  </tr><tr>
  <td width="100%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  </tr></table>
  </div>
  
  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
  
  <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
  
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
  
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
  
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
  
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
  
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
  
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
  
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  
  <br>
  <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
  <div id="FTR">
  <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160; </font></div>
  </div>
  
  <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
  <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160; </font></div>
  
  <div style="WIDTH: 100%; TEXT-ALIGN: center">
  <hr style="COLOR: black" noshade size="2">
  </div>
  </div>
  
  <div id="HDR">
  <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160; </font></div>
  </div>
  </div>
  
  <br>
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item 8.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Other Events.</font></div>
  
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Community Bank System, Inc. (the &#8220;Company&#8221;) has completed the election process for the merger consideration in connection with its acquisition of The Wilber Corporation (&#8220;Wilber&#8221;), which was completed on April 8, 2011.</font></div>
  
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Under the terms of the merger agreement, 80% of the outstanding shares of Wilber common stock were exchanged for shares of the Company&#8217;s common stock, and 20% of the outstanding shares of Wilber common stock were exchanged for cash.&#160;&#160;Based on the final election results and applying the adjustment, election and allocation procedures set forth in the merger agreement, the Wilber shareholders will receive the following consideration:</font></div>
  
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  
  <div>
  <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
  <tr valign="top">
  <td align="right" style="WIDTH: 72pt">
  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Wingdings">&#167;&#160;&#160;</font></div>
  </td>
  <td>
  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-DECORATION: underline">All Stock Election</font>.&#160;&#160;In the aggregate, Wilber shareholders made elections to convert more than 80% of their shares into the Company&#8217;s common stock.&#160;&#160;Because the merger agreement provides that no more than 80% of Wilber shares may be converted into the Company&#8217;s stock in the merger, the Company followed the allocation procedure set forth in the merger agreement.&#160;&#160;As a result, the shareholders who made the &#8220;all stock&#8221; election had 96.98% of their Wilber shares converted into the Company&#8217;s common stock, and 3.02% of their Wilber shares were converted into cash at $9.50 per share.</font></div>
  </td>
  </tr></table>
  </div>
  
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
  
  <div>
  <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
  <tr valign="top">
  <td align="right" style="WIDTH: 72pt">
  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Wingdings">&#167;&#160;&#160;</font></div>
  </td>
  <td>
  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-DECORATION: underline">Mixed Election or failure to make a valid election</font>.&#160;&#160;Wilber shareholders who made the mixed election (stock and cash) or failed to submit a valid election, had 80% of their Wilber shares converted into the Company&#8217;s common stock and 20% of their Wilber shares converted into cash at $9.50 per share.</font></div>
  </td>
  </tr></table>
  </div>
  
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
  
  <div>
  <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
  <tr valign="top">
  <td align="right" style="WIDTH: 72pt">
  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Wingdings">&#167;&#160;&#160;</font></div>
  </td>
  <td>
  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-DECORATION: underline">All Cash Election</font>. Wilber shareholders who made the &#8220;all cash&#8221; election, had 100% of their Wilber shares were converted to cash at $9.50 per share.</font></div>
  </td>
  </tr></table>
  </div>
  
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
  
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The cash consideration and/or a Direct Registration Transaction Advice evidencing the number of shares of the Company common stock owned by former shareholders of record of Wilber will be distributed to such shareholders beginning on May 16, 2011.&#160;&#160;Under the merger agreement, fractional shares of the Company&#8217;s common stock will not be issued.&#160;&#160;Instead, former Wilber shareholders will receive cash in lieu of Company fractional shares at a rate of $24.27 per share.</font></div>
  
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNATURES</font></div>
  
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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.</font></div>
  
  <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
  
  <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
  
  <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
  
  <div align="center">
  <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
  <tr>
  <td width="50%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  <td width="50%">
  
  <div align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Community Bank System, Inc.</font></font></div>
  </td>
  </tr><tr>
  <td width="50%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  <td width="50%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  </tr><tr>
  <td width="50%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  <td width="50%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;By:&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">/s/ Mark E. Tryniski</font></font></td>
  </tr><tr>
  <td width="50%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  <td width="50%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;Name:&#160;&#160;Mark E. Tryniski</font></td>
  </tr><tr>
  <td width="50%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  <td width="50%">
  
  <div align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Title:&#160;&#160;President and Chief Executive Officer</font></font></div>
  </td>
  </tr><tr>
  <td width="50%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  <td width="50%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  </tr><tr>
  <td width="50%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  <td width="50%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  </tr><tr>
  <td width="50%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;Dated:&#160;&#160;May 16, 2011</font></td>
  <td width="50%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
  </tr></table>
  </div>
  
  <div>&#160;</div>
  
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  
  <div>&#160;</div>
  
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  
  <div style="DISPLAY: block; MARGIN-LEFT: 225pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
  
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 180pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
  
  <div>&#160;</div>
  
  <div>&#160;</div>
  
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -36pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
  
  <br>
  <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
  <div id="FTR">
  <div style="WIDTH: 100%" align="left">
  <div>
  <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
  <tr>
  <td valign="bottom" width="26%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>
  <td valign="bottom" width="27%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; </font></td>
  <td align="right" valign="bottom" width="27%">
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1845665.1</font></div>
  </td>
  </tr></table>
  </div>
  
  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
  
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  </div>
  
  <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160; </font></div>
  </div>
  
  <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
  <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160; </font></div>
  
  <div style="WIDTH: 100%; TEXT-ALIGN: center">
  <hr style="COLOR: black" noshade size="2">
  </div>
  </div>
  
  <div id="HDR">
  <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160; </font></div>
  </div>
  </div>
  
  <br>
  </body>
  </html>
metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "cbna20118kmergestockelection.htm", "description": "2011 8K MERGER STOCK ELECTION", "secsgml_size_bytes": 25927}]
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": "11847218"}, "business-address": {"street1": "5790 WIDEWATERS PKWY", "city": "DEWITT", "state": "NY", "zip": "13214", "phone": "8007242262"}, "mail-address": {"street1": "5790 WIDEWATERS PARKWAY", "city": "DEWITT", "state": "NY", "zip": "13214"}}
text: cbna20118kmergestockelection.htm
  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):
  May 16, 2011
  Community Bank System, Inc.
  (Exact name of registrant as specified in its charter)
  Delaware
  001-13695
  16-1213679
  (State or other jurisdiction of incorporation)
  (Commission File Number)
  (IRS Employer Identification No.)
  5790 Widewaters Parkway, DeWitt, New York
  13214
  (Address of principal executive offices)
  (Zip Code)
  Registrant's telephone number, including area code:
  (315) 445-2282
  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 8.01                      Other Events.
  Community Bank System, Inc. (the "Company") has completed the election process for the merger consideration in connection with its acquisition of The Wilber Corporation ("Wilber"), which was completed on April 8, 2011.
  Under the terms of the merger agreement, 80% of the outstanding shares of Wilber common stock were exchanged for shares of the Company's common stock, and 20% of the outstanding shares of Wilber common stock were exchanged for cash.  Based on the final election results and applying the adjustment, election and allocation procedures set forth in the merger agreement, the Wilber shareholders will receive the following consideration:
  §
  All Stock Election
  .  In the aggregate, Wilber shareholders made elections to convert more than 80% of their shares into the Company's common stock.  Because the merger agreement provides that no more than 80% of Wilber shares may be converted into the Company's stock in the merger, the Company followed the allocation procedure set forth in the merger agreement.  As a result, the shareholders who made the "all stock" election had 96.98% of their Wilber shares converted into the Company's common stock, and 3.02% of their Wilber shares were converted into cash at $9.50 per share.
  §
  Mixed Election or failure to make a valid election
  .  Wilber shareholders who made the mixed election (stock and cash) or failed to submit a valid election, had 80% of their Wilber shares converted into the Company's common stock and 20% of their Wilber shares converted into cash at $9.50 per share.
  §
  All Cash Election
  . Wilber shareholders who made the "all cash" election, had 100% of their Wilber shares were converted to cash at $9.50 per share.
  The cash consideration and/or a Direct Registration Transaction Advice evidencing the number of shares of the Company common stock owned by former shareholders of record of Wilber will be distributed to such shareholders beginning on May 16, 2011.  Under the merger agreement, fractional shares of the Company's common stock will not be issued.  Instead, former Wilber shareholders will receive cash in lieu of Company fractional shares at a rate of $24.27 per share.
  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.
  Community Bank System, Inc.
  By:
  /s/ Mark E. Tryniski
  Name:  Mark E. Tryniski
  Title:  President and Chief Executive Officer
  Dated:  May 16, 2011
  1845665.1