Canandaigua National (CNND) 8-K Completion of Acquisition or Disposition of Assets

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): January 2, 2008

CANANDAIGUA NATIONAL CORPORATION
(Exact name of registrant as specified in its charter)

2-94863

(Commission File Number)

New York (State or other jurisdiction of incorporation or organization)	16-1234823 (IRS Employer Identification Number)
72 South Main Street Canandaigua, New York (Address of principal executive offices)	14424 (Zip code)

(585) 394-4260
(Registrant's telephone number, including area code)

NOT APPLICABLE
(Former name, former address and former fiscal year, if changed since last report)

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.01  Completion of Acquisition or Disposition of Assets

Effective January 2, 2008, Canandaigua National Corporation (CNC), parent company of The Canandaigua National Bank and Trust Company (CNB), acquired Genesee Valley Trust Company (GVT). The acquisition created a combined entity with over $1.6 billion in assets under management. Genesee Valley Trust will continue to operate as a wholly owned subsidiary of Canandaigua National Corporation.

Under the terms of the agreement, CNC acquired all of the outstanding shares of GVT capital stock for cash.  The transaction was structured with a portion of the purchase price paid at closing, with additional minimum and contingent amounts to be paid depending on certain operating results of GVT during the next three years.

A copy of the press release is attached as Exhibit 99.1 and is incorporated by reference herein.

Item 9.01  Financial Statements and Exhibit

  (c) Exhibits

        99.1  Press Release dated January 3, 2008

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	CANANDAIGUA NATIONAL CORPORATION
	(Registrant)
January 7, 2008	/s/ Lawrence A. Heilbronner
Date	Lawrence A. Heilbronner
	Executive Vice President and Chief Financial Officer