SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                    FILED PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

                       DATE OF REPORT:  November 22, 1995


                         COMMISSION FILE NUMBER 0-14703


                                NBT BANCORP INC.
             (Exact Name of Registrant as Specified in its Charter)

                DELAWARE                        16-1268674
        (State of Incorporation)     (I.R.S. Employer Identification No.)

                  52 SOUTH BROAD STREET NORWICH, NEW YORK 13815
               (Address of Principal Executive Offices)(Zip Code)

       Registrant's Telephone Number, Including Area Code: (607)-337-6000

                                       N/A
          (Former Name or Former Address, If changed since last Report)





There are no exhibits to this Form 8-K.

This report includes a total of 3 pages.
                                      -1-

Item 5 -- Other Events

On November 22, 1995, NBT BANCORP INC. issued the following press
release declaring stock and cash dividends and describing the
repurchase of up to 500,000 shares of the Registrant's Common Stock in
the open market.

NBT Bancorp Inc.
52 South Broad Street
Norwich, NY  13815

Joe C. Minor
SVP/CFO
607/337-6262

ATTENTION:  FINANCIAL/BUSINESS EDITORS
FOR IMMEDIATE RELEASE:  NOVEMBER 22, 1995

NBT BANCORP DECLARES STOCK AND CASH DIVIDENDS;
AUTHORIZES REPURCHASE OF COMPANY STOCK

       NORWICH, NY -- NBT Bancorp Inc. (NASDAQ:  NBTB) today announced
that the Board of Directors has declared a 5% stock dividend and a
regular quarterly cash dividend of 13 cents per share.  This represents
an increase of one cent per share over the regular third quarter
dividend paid by the company.  The stock dividend will be paid on
December 15, 1995 to shareholders of record as of the record date of
December 1, 1995; the cash dividend will be paid on the increased
number of shares on December 15, 1995 to shareholders of record as of
December 1, 1995.

       Daryl R. Forsythe, President and Chief Executive Officer of NBT
Bancorp Inc. and its subsidiary, NBT Bank, N.A., said the effective
cash dividend increase of 13.8% was in line with the company's solid
earnings performance for the year to date, and its strong capital
position.

       The directors also authorized the repurchase of up to 500,000
shares, or approximately 6% of the company's common stock.

       Mr. Forsythe said the repurchased shares may be reissued in the
future in connection with the company's dividend reinvestment plan, its
Employee Stock Ownership Plan, and its 401 (K) plan, to satisfy the
exercise of outstanding stock options, for other corporate purposes,
or else held indefinitely in the treasury or retired.

       Mr. Forsythe added, "The Board of Directors views the company's
common stock as an attractive long-term investment.  NBT's repurchase
program is an important component of our ability to meet the needs of
the company's stock programs while delivering value to our
stockholders."

       Based on current market conditions, the stock repurchase program
is expected to be completed within the next 12 months.  "The
repurchases of common stock will be made from time-to-time in the open
market in accordance with market conditions,"  Mr. Forsythe said.
                                      -2-

       NBT Bancorp is a registered bank holding company whose common
shares are listed on the National Market System of NASDAQ under the
symbol "NBTB."  Its principal office is in Norwich, New York.  Its
subsidiary, NBT Bank, N.A., has operated since 1856 and currently
conducts business through 35 branches in Norwich, in other Chenango
County communities, and in the New York counties of Broome, Clinton,
Delaware, Essex, Fulton, Oneida and Tioga.  NBT Bank has recently
received approval to acquire three branches from Community Bank System,
Inc. in Chenango and Oneida counties.  NBT Bank is a full service,
independent community bank that offers a full range of retail and
commercial banking, as well as personal and business trust services.

                            *****END OF RELEASE*****


                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report on Form 8-K to be signed on
its behalf by the undersigned thereunto duly authorized, this 22nd day
of November, 1995.




                               NBT BANCORP INC.



                               /s/ JOE C. MINOR
           By: ____________________________________________________
                                   Joe C. Minor
                                  Vice-President
                     Chief Financial Officer and Treasurer
                                      -3-