UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
POST-EFFECTIVE AMENDMENT NO. 1 TO FORM
S-3 REGISTRATION STATEMENT NO. 333-151572
POST-EFFECTIVE AMENDMENT NO. 1 TO FORM S-3 REGISTRATION STATEMENT
NO. 333-41051
POST-EFFECTIVE AMENDMENT NO.
1 TO FORM S-3D REGISTRATION STATEMENT NO. 333-20375
UNDER THE SECURITIES ACT OF 1933
MERCHANTS BANCSHARES, INC.
(Community Bank System, Inc. as successor
by merger to Merchants Bancshares, Inc.)
(Exact Name of Registrant as Specified
in Its Charter)
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Delaware
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03-0287342
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(State or Other Jurisdiction of
Incorporation or Organization)
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(I.R.S. Employer
Identification Number)
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275 Kennedy Drive
South Burlington, Vermont 05403
(802) 658-3400
(Address, Including Zip Code, and Telephone
Number, Including Area Code, of Registrant’s Principal Executive Offices)
Mark E. Tryniski
c/o Community Bank System, Inc.
President and Chief Executive Officer
Community Bank System, Inc.
5790 Widewaters Parkway
DeWitt, New York 13214
(315) 445-2282
(Name, Address, Including Zip Code, and
Telephone Number, Including Area Code, of Agent For Service)
Copies to:
Andrew P. Alin, Esq.
Cadwalader, Wickersham & Taft
LLP
200 Liberty Street
New York, New York 10281
(212) 504-6000
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George J. Getman, Esq.
EVP and General Counsel
Community Bank System, Inc.
5790 Widewaters Parkway
DeWitt, New York 13214
(315) 445-2282
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Not Applicable
(Approximate date of commencement of proposed
sale to the public)
If the only securities being registered on this Form are being
offered pursuant to dividend or interest reinvestment plans, please check the following box:
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If any of the securities being registered on this Form are
to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, other than securities offered
only in connection with dividend or interest reinvestment plans, check the following box:
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If this Form is filed to register additional securities for
an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration
statement number of the earlier effective registration statement for the same offering.
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If this Form is a post-effective amendment filed pursuant to
Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the
earlier effective registration statement for the same offering.
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If this Form is a registration statement pursuant to General
Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to
Rule 462(e) under the Securities Act, check the following box.
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If this Form is a post-effective amendment to a registration
statement filed pursuant to General Instruction I.D. filed to register additional securities or additional classes of securities
pursuant to Rule 413(b) under the Securities Act, check the following box.
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Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated
filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company”
in Rule 12b-2 of the Exchange Act.
Large
accelerated filer
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Accelerated filer
x
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Non-accelerated filer
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(Do not check if a smaller reporting company)
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Smaller reporting company
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Emerging Growth company
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If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 7(a)(2)(B) of the Securities Act.
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DEREGISTRATION OF SECURITIES
These post-effective amendments (the “Post-Effective
Amendments”) remove from registration all securities registered under the following Registration Statements on Form S-3 and
Form S-3D (collectively, the “Registration Statements”) filed by Merchants Bancshares, Inc., a Delaware corporation
(the “Company”), with the U.S. Securities and Exchange Commission (the “SEC”):
File No. 333-151572, which was filed with the SEC
on June 11, 2008, registering common stock to be issued pursuant to the terms of the Company’s Dividend Reinvestment and
Stock Purchase Plan that provides for adjustments in the amount of securities being issued to prevent dilution resulting from stock
splits, stock dividends or similar transactions;
File No. 333-126153, which was filed with the SEC
on November 11, 1997, registering common stock sold to the Company’s wholly-owned subsidiary Merchants Trust Company in a
private transaction and at the market price of $14.125 per share (the average of the closing bid ($13.25) and asked ($15.00) prices
on December 20, 1995) in connection with the amendment and termination of certain obligations of the Company to certain of its
former officers and directors under two benefit and compensation plans of the Company; and
File No. 333-20375, which was filed with the SEC on
January 24, 1997, registering common stock to be issued pursuant to the terms of the Company’s Dividend Reinvestment and
Stock Purchase Plan that provides for adjustments in the amount of securities being issued to prevent dilution resulting from stock
splits, stock dividends or similar transactions.
On May 12, 2017, pursuant to the terms
of the Agreement and Plan of Merger, dated as of October 22, 2016, by and between Community Bank System, Inc., a Delaware corporation
(“Community Bank System”), and the Company, the Company merged with and into Community Bank System as the surviving
corporation (the “Merger”), whereupon the separate corporate existence of the Company ceased.
As a result of the Merger, any and all offerings
of securities registered pursuant to the Registration Statements have been terminated. In accordance with undertakings made by
the Company in the Registration Statements to remove from registration by means of post-effective amendments any of the securities
that remain unsold at the termination of the offerings, Community Bank System, as successor to the Company, hereby removes from
registration the securities registered, but not sold as of the date hereof, under the Registration Statements.
SIGNATURES
Pursuant to the requirements of the Securities
Act of 1933, as amended, and Rule 478 thereunder, the Registrant certifies that it has reasonable grounds to believe that it meets
all of the requirements for filing on Form S-3 and has duly caused these Post-Effective Amendments to the Registration Statements
to be signed on its behalf by the undersigned, thereunto duly authorized, in the Town of DeWitt, State of New York on May 15, 2017.
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COMMUNITY BANK SYSTEM, INC. (as successor by merger to Merchants Bancshares, Inc.)
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By:
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/s/ George J. Getman
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George J. Getman
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EVP and General Counsel
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*Pursuant to Rule 478 under the Securities Act of 1933, as amended, no other person is required to sign this Post-Effective Amendment.
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