1. Passion. Discipline. Respect. The qualities that contribute to our success. March 2009

2. Forward-looking Statement This presentation contains certain “forward-looking statements,” within the meaning of the Private Securities Litigation Reform Act of 1995, that are based on current expectations, estimates and projections about the industry, markets and economic environment in which the Company operates. Such statements involve risks and uncertainties that could cause actual results to differ materially from the results discussed in these statements. These risks are detailed in the Company’s periodic reports filed with the Securities and Exchange Commission. Annualized, pro forma, projected and estimated amounts are presented for illustrative purposes only and may not reflect actual results.

3. Company Profile Successful, growing community bank headquartered outside of Syracuse, N.Y. One of the largest community banks based in Upstate New York with $5.2 billion in assets. More than 150 customer facilities across Upstate New York and Northeast Pennsylvania. –NY: Community Bank, N.A. –PA: First Liberty Bank & Trust Dominant market share: 1 st or 2 nd in 70% of the towns where we do business.

4. Company Profile Diversified financial services products via branches and subsidiaries: –Wealth Management Group Personal Trust Dept. Nottingham Advisors (offices in Buffalo, NY and North Palm Beach, FL) Community Investment Services, Inc. (Broker Dealer) CBNA Insurance Agency (Northern New York) –Benefit Plans Administration and Consulting Benefit Plans Administrative Services, Harbridge Consulting Group, and Hand Benefits & Trust –Employee benefit plans administration, actuarial and consulting services, collective investment trust administration –Offices in Syracuse and Utica, NY; Pittsburgh and Philadelphia, PA; Houston, TX

5. Company Profile As of December 31, 2008: Assets $ 5.2 billion Loans $ 3.1 billion Deposits $ 3.7 billion Shareholders’ Equity $545 million Market Capitalization $573 million (at 2/26/09 closing price of $17.51)

6. Shareholder Profile # of Shares % Shares Outstanding Dollars # of Owners December 31, 2008 or Most Recent Data Available (in thousands, except # of shareholders) Total Shares Outstanding32,742$ 573,312 –– Shares Held by Institutions19,873$ 347,97660.7%154 Insiders912$ 15,9692.8%13 401(k) Plan 752 $ 13,168 2.3%1,592 Pension Plan105$ 1,8390.3%1 767$ 13,4302.3%1,486Dividend Reinvestment Plan CBU Price at February 26, 2009:$ 17.51 ––

7. Operating Strategy Market-leading branch system serving predominantly non- urban markets; decentralized decision-making; focus on core accounts. Investment in noninterest revenues. Growth model that leverages both organic and acquired opportunities.

8. Consistent and Favorable Financial Results CAGR Net income 13.4% Net income per share (diluted) 9.1% Non-interest income 15.8% (excluding securities and debt restructuring gains and losses) Dividends per share 7.0% (2001— 2008)

9. Asset Growth 6-year CAGR: 7.1% (in billions)

10. Deposit Growth 6-year CAGR: 6.8% (in billions)

11. 2008 Performance Summary 2008 Results % Change (In Millions) From 2007 Net interest income $148.5 9.2% Non-interest income $ 73.2 15.8% (excluding securities gains) Financial services revenue $ 34.4 23.1% Operating expenses $158.6 11.6% Provision for loan losses $ 6.7 335.8% Net income $ 45.9 7.1% Earnings per share (diluted) $ 1.49 5.0%

12. Cash Earnings Per Share $1.62 $1.73 Cash Return on Total Equity (2008): 11.2%

13. Capital Flexibility Tangible Equity/Assets Tier I Leverage Ratio Shareholders’ Equity (in millions)

14. Strategy Element #1 Market-leading Branch System Focused on Core Accounts Emphasize responsive, local decision-making and customer support. Focus on generating and retaining core deposit accounts. Mostly non-urban markets where leadership positions can be earned.

15. Customer Service Focus Ranked in the top 10 in the ENTIRE NATION by J.D. Power & Associates in both its 2007 and 2008 Retail Banking Satisfaction Studies!

16. Branching Out Community Bank, N.A. Branches First Liberty Bank & Trust Branches Administrative/Operations Centers Financial Services Centers Recently Completed Acquisition

17. Northern New York Region Branches: 55 Deposits: $1.3 billion Recently Completed Acquisition

18. Southern New York Region Branches: 69 Deposits: $1.6 billion

19. Pennsylvania Region Branches: 26 Deposits: $0.8 billion

20. Core Account Growth Deposit Type4Q 2008 4Q 2007 $ change % change Demand Deposits$615,540 $574,266 $41,274 7.2% Interest Checking$571,540 $464,996 $106,544 22.9% Savings/Money Market$971,916 $780,714 $191,202 24.5% Subtotal $2,158,996 $1,819,976 $339,020 18.6% (Dollars in thousands, average period balances)(7% organic growth)

21. Core Deposit Strength and Focus 61% of Funding in Core Accounts

22. Loan Growth Consumer LoansBusiness Loans6-year CAGR = 9.6% (in millions)

23. Loan Portfolio Balance

24. Asset Quality Nonperforming Loans to Total Loans

25. Asset Quality Net Charge-offs to Average Loans

26. Strategy Element #2 Continue to Grow Noninterest Revenues Banking Services Benefits Administration and Consulting Wealth Management

27. Growth In Noninterest Income (excluding securities gains/losses and debt extinguishment) 6-year CAGR: 15.9% Wealth Management Banking Services Noninterest Income/ Operating Income = 33.0% in 2008. Benefit Plan Services (in millions)

28. Banking Services Revenue Electronic Banking Depository Fees Lending Fees Mortgage Banking

29. Banking Services Revenue (in millions) 6-year CAGR: 13.3%

30. Defined Contribution Plan Benefit Administration Actuarial Services Health Care and Benefit Plan Consulting Collective Investment Fund Administration Flex Plan Administration Benefit Plan Administration & Consulting Revenue

31. (in millions) 6-year CAGR: 30.1%

32. Wealth Management Revenue Trust Services Broker-Dealer Investment Advisory Insurance Agency

33. Wealth Management Revenue (In millions) 6-year CAGR: 4.7%

34. Strategy Element #3: Growth Model Banking Acquisitions Assets # of Branches (in millions) Branch Acquisitions November 2008 18$ 575 December 2004 1$ 32 November 200136 $ 473 Whole-bank Acquisitions June 2007 5$ 100 December 2006 4 $ 95 August 2006 2 $ 208 May 2004 3 $ 275 November 2003 12$ 280 September 2003 1 $ 29 May 2001 13$ 648 January 2001 5 $ 111

35. Strategy Element #3: Growth Model Financial Services Acquisitions Year Alliance Benefit Group – MidAtlantic2008 CBNA Insurance Agency2007 Hand Benefits & Trust2007 Harbridge Consulting Group2003 Nottingham Advisors1999 Benefits Plans Administrative Services1997

36. Total Shareholder Returns (Through December 31, 2008, Including Reinvestment of Dividends) 1 Year 5 Years 10 Years 15 Years CBU 27.5% 3.5% 9.1% 12.6% S&P 600 (19.9%) (6.7%) 3.5% NA Comm. Bank NASDAQ (21.5%) (4.4%) 3.5% 7.5% Bank S&P 500 (36.9%) (2.2%) (1.4%) 6.5% Dow Jones (31.9%) (1.1%) 1.7% 8.1% Ind. Ave. Source: Bloomberg

37. Total Shareholder Returns (Through February 26, 2009, Including Reinvestment of Dividends) YTD 1 Year 3 Years 5 Years CBU (27.9%) (17.6%) (4.1%) (2.1%) S&P 600 (39.3%) (49.9%) (27.8%) (16.2%) Comm. Bank NASDAQ (29.5%) (44.2%) (21.5%) (11.4%) Bank S&P 500 (16.2%) (42.1%) (14.7%) (6.2%) Dow Jones (17.6%) (39.8%) (11.2%) (5.2%) Ind. Ave. Source: Bloomberg

38. Consistent Dividend Focus Strong Dividend Payment –4.8% increase in August 2008 –$0.88 per share annualized Excellent Dividend Yield: –5.0% as of February 26, 2009 Outstanding Track Record of Payment Increases –16 straight years; included in Mergent Index –One of just 326 – or 3% – of over 10,000 U.S. public companies to do so!

39. Investment Merits NYSE-listed Company with Significant Liquidity. Long-term Growth Focus. Successful and Effective Operating Strategy. Strong Fundamentals with Excellent Asset Quality. Superior Return to Shareholders.

40. Thank you!