Ownership Submission
FORM 5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Form 3 Holdings Reported
Form 4 Transactions Reported
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person *
CHEWENS MICHAEL J
 2. Issuer Name and Ticker or Trading Symbol
NBT BANCORP INC [NBTB] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Sr EVP & CFO
(Last)
(First)
(Middle)

52 SOUTH BROAD STREET		 3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/2010
(Street)


NORWICH, NY 13815		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Reporting
(check applicable line)

_X_ Form Filed by One Reporting Person
___ Form Filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Amount (A) or (D) Price
NBT Bancorp Inc. Common Stock 12/31/2010   J 458.553 A $ 0 (1) 13,532.801 I 401k
NBT Bancorp Inc. Common Stock 12/31/2010   J 334.636 A $ 0 (2) 3,490.001 I NBT Bancorp ESOP
NBT Bancorp Inc. Common Stock             20,900 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 2270 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
(A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Qualified Stock Option (right to buy) $ 20.19           01/15/2011(3) 01/15/2020 NBT Bancorp Inc. Common Stock
18,000
  18,000
D
 
Non-Qualified Stock Option (right to buy) $ 20.3617           01/15/2009(4) 01/15/2018 NBT Bancorp Inc. Common Stock
18,000
  18,000
D
 
Non-Qualified Stock Option (right to buy) $ 22.1715           01/01/2005(4) 01/01/2014 NBT Bancorp Inc. Common Stock
715
  715
D
 
Non-Qualified Stock Option (right to buy) $ 22.352           01/01/2007(4) 01/01/2016 NBT Bancorp Inc. Common Stock
22,000
  22,000
D
 
Non-Qualified Stock Option (right to buy) $ 23.2708           01/20/2006(4) 01/20/2015 NBT Bancorp Inc. Common Stock
17,507
  17,507
D
 
Non-Qualified Stock Option (right to buy) $ 25.38           01/15/2010(3) 01/15/2019 NBT Bancorp Inc. Common Stock
18,000
  18,000
D
 
Non-Qualified Stock Option (right to buy) $ 25.762           01/01/2008(4) 01/01/2017 NBT Bancorp Inc. Common Stock
20,000
  20,000
D
 

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
CHEWENS MICHAEL J
52 SOUTH BROAD STREET
NORWICH, NY 13815		       Sr EVP & CFO  

Signatures

Michael J Chewens 02/11/2011
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Shares were purchased from 1/1/2010 through 12/31/2010 through NBT Bancorp Inc. 401k Plan.
(2) Shares were purchased from 1/1/2010 through 12/31/2010 through NBT Bancorp Inc. ESOP Plan.
(3) Pursuant to NBT Bancorp Inc. Omnibus Stock Option Agreement the grant vests 40% for first year, 20% annually for following years.
(4) Pursuant to NBT Bancorp Inc. 1993 Stock Option Plan grant vests 40% for first year, 20% annually for following years.

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