COMMUNITY FINANCIAL SYSTEM, INC. — Director's Dealing 2012

Jan 31, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMUNITY BANK SYSTEM INC (CBU)
CIK: 0000723188
Period of Report: 2012-01-30

Reporting Person: DICERBO NICHOLAS A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-01-30	Common Stock	P	200	$27.00	Acquired	122359.8974	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	115534.9016	Indirect
Common Stock	840.701	Indirect