U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
FORM 4
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Hammond, J. David
231 Beach Road
RD #4
Auburn, NY 13021
US
2. Issuer Name and Ticker or Trading Symbol
Center Banks Incorporated
CTBK
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
January 1997
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Executive Vice President & Secretary
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Year |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock | | | | | | |2,965 |D | |
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Common Stock | | | | | | |732 |I |By 401K |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Year |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Employee Stock Options|$15.25 | | | | | |** |10/10|Common Stock|5,000 |* |5,000 |D | |
| | | | | | | |/05 | | | | | | |
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Employee Stock Options|$13.75 | | | | | |** |4/16/|Common Stock|1,000 |* |1,000 |D | |
| | | | | | | |06 | | | | | | |
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Employee Stock Options|$16.25 |1/21/|J***| | | |**** |1/21/|Common Stock|2,000 |*** |2,000 |D | |
| |97 | | | | | |97 | | | | | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
* Granted under the Center Banks Incorporated Long-term Incentive & Capital
Accumulation Plan.
** Options become exercisable 20% per year after the date of grant.
*** Options granted under the Center Banks Incorporated 1991 Long-term
Incentive & Capital Accumulation Plan.
**** Options become exercisable 50% per year after the date of
grant.
SIGNATURE OF REPORTING PERSON
/s/ J. David Hammond
DATE
February 10, 1997
