Market Overview

Community Bank System, Inc. Announces Quarterly Common Stock Dividend and Results of Annual Shareholders Meeting

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Community Bank System, Inc. (NYSE:CBU) announced that it has declared a
quarterly cash dividend of $0.34 per share on its common stock. The
dividend will be payable on July 10, 2018 to shareholders of record as
of June 15, 2018. The $0.34 cash dividend represents an annualized yield
of 2.26% based on the closing share price of $60.21 on May 15, 2018.

The Company also announced that the Shareholders voted in line with the
Board of Directors' recommendations on all proposals and elected the
four directors standing for re-election at its Annual Shareholders
Meeting on May 16, 2018. Directors Neil E. Fesette, Raymond C. Pecor,
III, Sally A. Steele, and Mark E. Tryniski were elected to hold office
until the 2021 Annual Meeting of Shareholders or until their successors
are duly elected and qualified. The Shareholders also approved, on an
advisory basis, the Company's executive compensation programs and
ratified the appointment of PricewaterhouseCoopers LLP to serve as the
Company's independent registered public accounting firm.

Community Bank System, Inc. operates more than 230 customer facilities
across Upstate New York, Northeastern Pennsylvania, Vermont, and Western
Massachusetts through its banking subsidiary, Community Bank, N.A. With
assets of approximately $11.0 billion, the DeWitt, N.Y. headquartered
company is among the country's 150 largest financial institutions. In
addition to a full range of retail, business, and municipal banking
services, the Company offers comprehensive financial planning, insurance
and wealth management services through its' Community Bank Wealth
Management Group and OneGroup NY, Inc. operating subsidiaries. The
Company's Benefit Plans Administrative Services, Inc. subsidiary (which
includes Northeast Retirement Services, LLC) is a leading provider of
employee benefits administration, trust services, fund administration
and actuarial consulting services to customers on a national scale.
Community Bank System, Inc. is listed on the New York Stock Exchange and
the Company's stock trades under the symbol CBU. For more information
about Community Bank visit www.communitybankna.com
or http://ir.communitybanksystem.com.

This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
The
following factors, among others, could cause the actual results of CBU's
operations to differ materially from CBU's expectations: the successful
integration of operations of its acquisitions; competition; changes in
economic conditions, interest rates and financial markets; and changes
in legislation or regulatory requirements.
These statements are
based on the current beliefs and expectations of CBU's management and
CBU does not assume any duty to update forward-looking statements.

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