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): August 2, 2006
Community Bank System, Inc.
(Exact name of registrant as specified in its charter)
Delaware 001-13695 16-1213679
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) 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
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(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:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
Section 8 - Other Events
Item 8.01 Other Events
On August 2, 2006, Community Bank System, Inc. (the "Company") entered into an
Agreement and Plan of Merger with ONB Corporation, a bank holding company
headquartered in Clifton Springs, New York, to acquire Ontario National Bank in
an all-cash transaction valued at $210 per share, or approximately $15.7 million
in the aggregate. This acquisition, which is subject to regulatory approval and
vote of ONB Corporation shareholders, is expected to close during the fourth
quarter of 2006.
Further details are contained in the press release attached hereto as Exhibit
99.1.
Section 9 - Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits
The following Exhibit is filed as an exhibit to this Form 8-K.
Exhibit No. Description
99.1 Press Release, dated August 3, 2006, announcing
the execution of a definitive merger agreement with
ONB Corporation.
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
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Name: Mark E. Tryniski
Title: President and Chief Executive Officer
Dated: August 7, 2006
EXHIBIT INDEX
Exhibit No. Description
99.1 Press Release, dated August 3, 2006, announcing the
execution of a definitive merger agreement with
ONB Corporation.