Passion Discipline Respect The qualities that contribute to

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

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.

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.

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

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 (at 2/26/09 closing price of $17. 51) $573 million

Shareholder Profile December 31, 2008 or Most Recent Data Available # of Shares (in thousands, except # of shareholders) Dollars % Shares Outstanding # of Owners Total Shares Outstanding 32, 742 $ 573, 312 Shares Held by Institutions 19, 873 $ 347, 976 60. 7% 154 Insiders 912 $ 15, 969 2. 8% 13 401(k) Plan 752 $ 13, 168 2. 3% 1, 592 Pension Plan 105 $ 1, 839 0. 3% 1 Dividend Reinvestment Plan 767 $ 13, 430 2. 3% 1, 486 CBU Price at February 26, 2009: $ 17. 51 –– ––

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

Consistent and Favorable Financial Results (2001— 2008) • Net income per share (diluted) • Non-interest income CAGR 13. 4% 9. 1% 15. 8% (excluding securities and debt restructuring gains and losses) • Dividends per share 7. 0%

Asset Growth (in billions) 6 -year CAGR: 7. 1%

Deposit Growth (in billions) 6 -year CAGR: 6. 8%

2008 Performance Summary 2008 Results (In Millions) % Change 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%

Cash Earnings Per Share $1. 62 $1. 73 Cash Return on Total Equity (2008): 11. 2%

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

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.

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!

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

Northern New York Region Branches: 55 Deposits: $1. 3 billion Recently Completed Acquisition

Southern New York Region Branches: 69 Deposits: $1. 6 billion

Pennsylvania Region Branches: 26 Deposits: $0. 8 billion

Core Account Growth Deposit Type 4 Q 2008 4 Q 2007 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% $1, 819, 976 $339, 020 18. 6% Subtotal $2, 158, 996 (Dollars in thousands, average period balances) $ change % change (7% organic growth)

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

Loan Growth (in millions) Consumer Loans Business Loans 6 -year CAGR = 9. 6%

Loan Portfolio Balance

Asset Quality Nonperforming Loans to Total Loans

Asset Quality Net Charge-offs to Average Loans

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

Growth In Noninterest Income (excluding securities gains/losses and debt extinguishment) (in millions) Benefit Plan Services Wealth Management Banking Services 6 -year CAGR: 15. 9% Noninterest Income/ Operating Income = 33. 0% in 2008.

Banking Services Revenue • Electronic Banking • Depository Fees • Lending Fees • Mortgage Banking

Banking Services Revenue (in millions) 6 -year CAGR: 13. 3%

Benefit Plan Administration & Consulting Revenue • 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 (in millions) 6 -year CAGR: 30. 1%

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

Wealth Management Revenue (In millions) 6 -year CAGR: 4. 7%

Strategy Element #3: Growth Model Banking Acquisitions # of Branches Assets (in millions) November 2008 December 2004 18 1 $ 575 $ 32 November 2001 36 $ 473 June 2007 5 $ 100 December 2006 4 $ 95 August 2006 2 $ 208 May 2004 3 $ 275 November 2003 12 $ 280 September 2003 1 $ 29 13 $ 648 5 $ 111 Branch Acquisitions Whole-bank Acquisitions May 2001 January 2001

Strategy Element #3: Growth Model Financial Services Acquisitions Year • Alliance Benefit Group – Mid. Atlantic 2008 • CBNA Insurance Agency 2007 • Hand Benefits & Trust 2007 • Harbridge Consulting Group 2003 • Nottingham Advisors 1999 • Benefits Plans Administrative Services 1997

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 Comm. Bank (19. 9%) (6. 7%) 3. 5% NA NASDAQ Bank (21. 5%) (4. 4%) 3. 5% 7. 5% S&P 500 (36. 9%) (2. 2%) (1. 4%) 6. 5% Dow Jones Ind. Ave. (31. 9%) (1. 1%) 1. 7% 8. 1% Source: Bloomberg

Total Shareholder Returns (Through February 26, 2009, Including Reinvestment of Dividends) YTD 1 Year 3 Years 5 Years (27. 9%) (17. 6%) (4. 1%) (2. 1%) S&P 600 Comm. Bank (39. 3%) (49. 9%) (27. 8%) (16. 2%) NASDAQ Bank (29. 5%) (44. 2%) (21. 5%) (11. 4%) S&P 500 (16. 2%) (42. 1%) (14. 7%) (6. 2%) Dow Jones Ind. Ave. (17. 6%) (39. 8%) (11. 2%) (5. 2%) CBU Source: Bloomberg

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!

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.

Thank you!