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

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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(Print or Type Responses)
1. Name and Address of Reporting Person *
DIETRICH MARTIN A
   2. Issuer Name and Ticker or Trading Symbol
NBT BANCORP INC [NBTB] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President NBT Bancorp
(Last)
(First)
(Middle)
52 SOUTH BROAD STREET		 3. Date of Earliest Transaction (Month/Day/Year)
07/29/2005
(Street)

NORWICH, NY 13815		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(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 Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
NBT Bancorp Inc. Common Stock 07/29/2005   M   32,430 A $ 16.0625 59,206.529 D  
NBT Bancorp Inc. Common Stock 07/29/2005   S   32,430 D $ 24.7046 26,776.529 D  
NBT Bancorp Inc. Common Stock 08/01/2005   M   6,470 A $ 16.0625 33,246.529 D  
NBT Bancorp Inc. Common Stock               12,461.783 I 401k
NBT Bancorp Inc. Common Stock               237.603 I Custodian for Minor
NBT Bancorp Inc. Common Stock               7,673.143 I NBT Bancorp ESOP
NBT Bancorp Inc. Common Stock               7,000 I by Mother
NBT Bancorp Inc. Common Stock               848 I by Spouse

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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 Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Qualified Stock Option (right to buy) $ 16.0625 07/29/2005   M     32,430 01/22/2002(1) 01/22/2011 NBT Bancorp Inc. Common Stock 32,430 $ 0 6,470 D  
Non-Qualified Stock Option (right to buy) $ 16.0625 08/01/2005   M     6,470 01/22/2002(1) 01/22/2011 NBT Bancorp Inc. Common Stock 6,470 $ 0 0 D  
Non-Qualified Stock Option (right to buy) $ 24.4458 08/01/2005   A   6,470   08/01/2007(2) 08/01/2015 NBT Bancorp Inc. Common Stock 6,470 $ 0 6,470 D  
Non-Qualified Stock Option (right to buy) $ 14.3492             01/28/2003(1) 01/28/2012 NBT Bancorp Inc. Common Stock 36,200   36,200 D  
Non-Qualified Stock Option (right to buy) $ 16.227             08/03/2003(2) 08/03/2011 NBT Bancorp Inc. Common Stock 4,346   4,346 D  
Non-Qualified Stock Option (right to buy) $ 17.538             01/01/2004(1) 01/01/2013 NBT Bancorp Inc. Common Stock 24,000   24,000 D  
Non-Qualified Stock Option (right to buy) $ 18.1632             01/27/1999(1) 01/27/2008 NBT Bancorp Inc. Common Stock 12,641.99   12,641.99 D  
Non-Qualified Stock Option (right to buy) $ 20.5952             01/26/2000(1) 01/26/2009 NBT Bancorp Inc. Common Stock 15,540   15,540 D  
Non-Qualified Stock Option (right to buy) $ 22.1715             01/01/2005(1) 01/01/2014 NBT Bancorp Inc. Common Stock 21,311   21,311 D  
Non-Qualified Stock Option (right to buy) $ 22.205             02/11/2006(2) 02/11/2014 NBT Bancorp Inc. Common Stock 3,840   3,840 D  
Non-Qualified Stock Option (right to buy) $ 23.2708             01/20/2006(1) 01/20/2015 NBT Bancorp Inc. Common Stock 22,423   22,423 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
DIETRICH MARTIN A
52 SOUTH BROAD STREET
NORWICH, NY 13815		   X     President NBT Bancorp  

Signatures

 By: Michael J. Chewens, Power of Attorney For: Martin A Dietrich   08/02/2005
**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) Pursuant to NBT Bancorp Inc. 1993 Stock Option Plan grant vests 40% for first year, 20% annually for following years.
(2) Pursuant to NBT Bancorp Inc. 1993 Stock Option Plan reload grant vests 100% two years after date of its grant.

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