EXHIBIT 99.1
PRESS RELEASE
Business Editors
NORWICH, NY - (BUSINESS WIRE) - October 4, 2000 -- NBT Bancorp
Inc. (NASDAQ: NBTB) today announced that it and BSB Bancorp, Inc. (NASDAQ: BSBN)
have agreed to terminate their merger agreement. The reciprocal stock option
agreements have also been terminated and no termination fees will be paid by
either party.
The principal office of NBT is located in Norwich, NY. NBT is
listed on the NASDAQ under the symbol NBTB. Its principal banking subsidiary,
NBT Bank, N.A. conducts business from 36 offices in nine counties in central and
northern New York.
Forward-Looking Information
This news release contains statements which constitute forward-looking
information within the meaning of the Private Securities Litigation Reform Act
of 1995. Actual results may differ materially from the statements made in this
release since such statements involve significant risks and uncertainties.
Factors that might cause such differences include, but are not limited to: the
expenses involved in the proposed merger being different from what management
had anticipated; competitive pressures among financial institutions increasing
significantly; economic conditions, either nationally or locally in areas which
NBT conducts its operations, being less favorable than expected; and legislation
or regulatory changes which adversely affect the ability of NBT to conduct its
current or future operations. NBT disclaims any obligation to update any such
factors or to publicly announce the result of any revisions to any of the
forward-looking statements included herein to reflect future events or
developments.
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