Exhibit No. 99.1

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COMMUNITY BANK SYSTEM, INC.                 For further information contact:
5790 Widewaters Parkway                     Scott A. Kingsley
DeWitt, N.Y. 13214                          E.V.P. and Chief Financial Officer
                                                                  (315) 445-3121

Community Bank System Completes ES&L Bancorp Acquisition

      Syracuse, N.Y. - August 14, 2006 - Community Bank System, Inc. (NYSE: CBU)
has completed its acquisition of ES&L Bancorp, Inc., previously announced on
April 21.

      Based in Elmira, N.Y., ES&L Bancorp is the parent company of Elmira
Savings and Loan, F.A., a federally chartered thrift operating as a community
bank. With roots dating back to 1888, the company has two branches in the cities
of Elmira and Ithaca, as well as mortgage and title insurance subsidiaries, all
of which combine to total approximately $210 million in assets, including $190
million in loans.

      An all-cash transaction valued at approximately $39 million, this
acquisition is expected to be immediately accretive to earnings.

      As previously indicated, ES&L Bancorp President William A. McKenzie will
remain with Community Bank System as a Senior Regional Vice President, bringing
his significant market knowledge and experience to work for the company.

      "We are very pleased to welcome ES&L Bancorp's customers and employees
into the Community Bank, N.A. family," said Mark E. Tryniski, President and
Chief Executive Officer of Community Bank System. "We are equally pleased to be
extending our presence in the Elmira region, and to be entering the Ithaca
community for the first time. We're confident that the greater breadth of
banking and financial services products which we offer will be well received by
consumers within these markets. This is an excellent expansion opportunity, and
we look forward to taking an active role within these vibrant communities."

      Community Bank System, Inc. is a registered bank holding company based in
DeWitt, N.Y. (near Syracuse), with $4.4 billion in assets and approximately 130
customer facilities. Its wholly-owned banking subsidiary operates as Community
Bank, N.A. across Upstate New York, and as First Liberty Bank & Trust throughout
Northeastern Pennsylvania. For further information please visit our websites at
www.communitybankna.com or www.firstlibertybank.com.

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