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 *
GUMBLE WILLIAM C
  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
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
52 SOUTH BROAD STREET
3. Date of Earliest Transaction (Month/Day/Year)
12/31/2005
(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 12/31/2005   M   1,500 A $ 16.0625 103,432 D  
NBT Bancorp Inc. Common Stock 12/31/2005   M   1,200 A $ 14.3492 104,632 D  
NBT Bancorp Inc. Common Stock 12/31/2005   M   900 A $ 17.6008 105,532 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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) $ 14.3492 12/31/2005   M     1,200 01/28/2003(1) 01/28/2012 NBT Bancorp Inc. Common Stock 1,200 $ 0 300 D  
Non-Qualified Stock Option (right to buy) $ 16.0625 12/31/2005   M     1,500 01/22/2002(1) 01/22/2011 NBT Bancorp Inc. Common Stock 1,500 $ 0 0 D  
Non-Qualified Stock Option (right to buy) $ 17.6008 12/31/2005   M     900 01/01/2004(1) 01/01/2013 NBT Bancorp Inc. Common Stock 900 $ 0 600 D  
Non-Qualified Stock Option (right to buy) $ 22.4092 12/31/2005   A   1,500   12/31/2007(2) 12/31/2015 NBT Bancorp Inc. Common Stock 1,500 $ 0 1,500 D  
Non-Qualified Stock Option (right to buy) $ 22.4092 12/31/2005   A   1,200   12/31/2007(2) 12/31/2015 NBT Bancorp Inc. Common Stock 1,200 $ 0 2,700 D  
Non-Qualified Stock Option (right to buy) $ 22.4092 12/31/2005   A   900   12/31/2007(2) 12/31/2015 NBT Bancorp Inc. Common Stock 900 $ 0 3,600 D  
Non-Qualified Stock Option (right to buy) $ 20.7492             05/01/2006(1) 05/01/2015 NBT Bancorp Inc. Common Stock 1,500   1,500 D  
Non-Qualified Stock Option (right to buy) $ 22.1388             01/01/2005(1) 01/01/2014 NBT Bancorp Inc. Common Stock 1,500   1,500 D  
Non-Qualified Stock Option (right to buy) $ 23.2708             01/20/2006(1) 01/20/2015 NBT Bancorp Inc. Common Stock 588   588 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
GUMBLE WILLIAM C
52 SOUTH BROAD STREET
NORWICH, NY 13815
  X      

Signatures

 By: Michael J. Chewens, Power of Attorney For: William C. Gumble   01/03/2006
**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 Non-Employee Director, Divisional Director and Subsidiary Director Stock Option Plan grant vests 40% for first year, 20% annually for following years.
(2) Pursuant to NBT Non-Employee Director, Divisional Director and Subsidiary Director Stock Option Plan reload grant vests 100% two years after date of its grant.

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