<SEC-DOCUMENT>0000723188-17-000023-index.html : 20170426
<SEC-HEADER>0000723188-17-000023.hdr.sgml : 20170426
<ACCEPTANCE-DATETIME>20170426153649
ACCESSION NUMBER:		0000723188-17-000023
CONFORMED SUBMISSION TYPE:	425
PUBLIC DOCUMENT COUNT:		5
FILED AS OF DATE:		20170426
DATE AS OF CHANGE:		20170426

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MERCHANTS BANCSHARES INC
		CENTRAL INDEX KEY:			0000726517
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				030287342
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		425
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-11595
		FILM NUMBER:		17783996

	BUSINESS ADDRESS:	
		STREET 1:		275 KENNEDY DRIVE
		CITY:			SOUTH BURLINGTON
		STATE:			VT
		ZIP:			05403
		BUSINESS PHONE:		8026583400

	MAIL ADDRESS:	
		STREET 1:		275 KENNEDY DRIVE
		CITY:			SOUTH BURLINGTON
		STATE:			VT
		ZIP:			05403

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COMMUNITY BANK SYSTEM, INC.
		CENTRAL INDEX KEY:			0000723188
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				161213679
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		425

	BUSINESS ADDRESS:	
		STREET 1:		5790 WIDEWATERS PKWY
		CITY:			DEWITT
		STATE:			NY
		ZIP:			13214
		BUSINESS PHONE:		8007242262

	MAIL ADDRESS:	
		STREET 1:		5790 WIDEWATERS PARKWAY
		CITY:			DEWITT
		STATE:			NY
		ZIP:			13214

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COMMUNITY BANK NA, a subsidiary of Community Bank System Inc
		DATE OF NAME CHANGE:	20130729

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COMMUNITY BANK NA, a subsidiary of Community Bank System Inc.
		DATE OF NAME CHANGE:	20130726

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COMMUNITY BANK SYSTEM INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>425
<SEQUENCE>1
<FILENAME>cbna8k2017pressrelease042617.htm
<TEXT>
Document 1 - file: cbna8k2017pressrelease042617.htm

</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>cbna8kpressrelease.htm
<TEXT>
Document 2 - file: cbna8kpressrelease.htm

</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>cbulogo2.jpg
<TEXT>
Document 3 - file: cbulogo2.jpg

</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>cbulogo.jpg
<TEXT>
Document 4 - file: cbulogo.jpg

</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>merchantslogo.jpg
<TEXT>
Document 5 - file: merchantslogo.jpg

</DOCUMENT>
</SEC-DOCUMENT>