UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934
(Amendment No.
)
Filed by the
Registrant
x
Filed by a
Party other than the Registrant
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Check the
appropriate box:
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Preliminary Proxy Statement
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Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
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Definitive Proxy Statement
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Definitive Additional Materials
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Soliciting Material Pursuant to §240.14a-12
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ALLIANCE FINANCIAL CORPORATION
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(Name of Registrant as Specified In Its Charter)
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(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
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Payment of Filing Fee (Check the appropriate box):
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x
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No fee required.
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Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.
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(1)
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Title of each class of securities to which transaction applies:
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(2)
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Aggregate number of securities to which transaction applies:
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(3)
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Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the
filing fee is calculated and state how it was determined):
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(4)
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Proposed maximum aggregate value of transaction:
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(5)
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Total fee paid:
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Fee paid previously with preliminary materials.
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Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify
the previous filing by registration statement number, or the Form or Schedule and the date of its filing.
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(1)
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Amount Previously Paid:
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(2)
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Form, Schedule or Registration Statement No.:
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(3)
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Filing Party:
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Date Filed:
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For Immediate Release
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Contact: Joe Russo
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(315) 475-6710
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Alliance Bank, N.A. Notifies Employees
of Expected Elimination of Certain Positions
Pending Merger with NBT Bank
Syracuse, NY, December 7, 2012
Alliance
Bank, N.A., the primary subsidiary of Alliance Financial Corporation (
NasdaqGS:ALNC
), advised employees at its headquarters in Syracuse and at its operations center in Oneida of the anticipated elimination of certain positions that will be
made duplicative upon Alliances expected merger with NBT Bank, scheduled for March 2013, pending regulatory and shareholder approvals. On October 8, 2012, NBT Bancorp Inc. and Alliance announced that they entered into a definitive
agreement under which Alliance will merge with and into NBT. Alliance expects that 42 positions at its headquarters and 56 in its operations center will be eliminated at the time of closing.
This will be the elimination of duplicate positions, which is typical any time two organizations merge, said Colleen K.
Lefeve, Senior Vice President, Human Resources for Alliance Bank. NBT and Alliance are making every effort to minimize the impact of the elimination of these positions, including holding open other positions that could potentially be filled by
displaced employees.
While duplicate positions will be eliminated in Syracuse and Oneida, Alliance President and Chief
Executive Officer Jack H. Webb said, We will maintain a significant and visible presence in both cities post-merger, and anticipate that no branches will be closed and no customer-service personnel in any of Alliance Banks lines of
business will be affected by these planned eliminations.
Additional Information for Stockholders
NBT filed a registration statement on Form S-4 containing a joint proxy statement/prospectus and other documents regarding the proposed
transaction with the Securities and Exchange Commission (SEC) on November 20, 2012.
NBT and Alliance stockholders and investors are urged to read the joint proxy statement/prospectus when it becomes available, because it
will contain important information about NBT and Alliance and the proposed transaction.
When available, copies of this joint proxy statement/prospectus will be mailed to stockholders. Copies of the joint proxy statement/prospectus also may
be obtained free of charge at the SECs web site at http://www.sec.gov, or by directing a request to NBT Bancorp Inc., Attention Shareholder Relations Department, 20 Mohawk Street, Canajoharie, New York 13317 or on its website at
www.nbtbancorp.com, or to Alliance Financial Corporation, Attention J. Daniel Mohr, 120 Madison Street, 18th Floor, Syracuse, New York 13202 or on its website at www.alliancefinancialcorporation.com. Copies of other documents filed by NBT or
Alliance with the SEC may also be obtained free of charge at the SECs website or by directing a request to NBT or Alliance at the address provided above.
NBT and Alliance and certain of their directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of NBT and Alliance in connection with the
proposed merger. Information about the directors and executive officers of NBT is set forth in the proxy statement, dated March 30, 2012, for NBTs 2012 annual meeting of stockholders, as filed with the SEC on Schedule 14A. Information
about the directors and executive officers of Alliance is set forth in the proxy statement, dated April 6, 2012, for Alliances 2012 annual meeting of stockholders, as filed with the SEC on Schedule 14A. Additional information
regarding the interests of such participants and other persons who may be deemed participants in the transaction may be obtained by reading the joint proxy statement/prospectus included in the Form S-4 when it becomes available.
This press release does not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy
any securities.
Corporate Overviews
NBT Bancorp Inc. is a financial holding company headquartered in Norwich, N.Y., with total assets of $6.0 billion at September 30, 2012. The company primarily operates through NBT Bank, N.A., a
full-service community bank with three divisions, and through two financial services companies. NBT Bank, N.A. has 135 locations, including 95 NBT Bank offices in upstate New York, northwestern Vermont and western Massachusetts, 35 Pennstar Bank
offices in northeastern Pennsylvania, and 5 Hampshire First Bank offices in southern New Hampshire. EPIC Advisors, Inc., based in Rochester, N.Y., is a full-service 401(k) plan recordkeeping firm. Mang Insurance Agency, LLC, based in Norwich, N.Y.,
is a full-service insurance agency.
Alliance Financial Corporation is a financial holding company with Alliance Bank, N.A. as
its principal subsidiary that provides retail, commercial and municipal banking, and trust and investment services through 29 offices in Cortland, Madison, Oneida, Onondaga and Oswego counties. Alliance also operates an investment management
administration center in Buffalo, N.Y. and an equipment lease financing company, Alliance Leasing, Inc.
Forward-Looking Statements
This news release contains forward-looking statements. These forward-looking statements involve risks and uncertainties
and are based on the beliefs and assumptions of the management of NBT and Alliance and their subsidiaries and on the information available to their management at the time that these statements were made. There are a number of factors, many of which
are beyond the control of NBT and Alliance that could cause actual conditions, events or results to differ significantly from those described in the forward-looking statements. Factors that may cause actual results to differ materially from those
contemplated by such forward-looking statements include, among others, the following possibilities: (1) the parties may fail to satisfy the conditions to closing for the proposed merger in a timely manner or at all; (2) the Alliance or NBT
stockholders may fail to approve the proposed merger; (3) the parties may fail to obtain the necessary governmental approvals or adverse regulatory conditions may be imposed in connection with such approvals; (4) the announcement and
pendency of the transaction may result in disruption to the parties businesses; (5) NBT may encounter difficulties related to the integration of the businesses following the merger; (6) competitive pressures among depository and
other financial institutions may increase significantly; (7) revenues may be lower than expected; (8) changes in the interest rate environment may reduce interest margins; (9) general economic conditions, either nationally or
regionally, may be less favorable than expected, resulting in, among other things, a deterioration in credit quality and/or a reduced demand for credit; (10) legislative or regulatory changes, including changes in accounting standards and tax
laws, may adversely affect the businesses in which NBT and Alliance are engaged; (11) competitors may have greater financial resources and develop products that enable such competitors to compete more successfully than NBT and Alliance;
(12) adverse changes that may occur in the securities markets or with respect to inflation; (13) political instability; (14) acts of war or terrorism; (15) natural disasters and (16) other risks and uncertainties disclosed
from time to time in documents that NBT and Alliance file with the SEC. Forward-looking statements speak only as of the date they are made. Except as required by law, NBT and Alliance do not undertake to update forward-looking statements to reflect
subsequent circumstances or events.
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