Ownership Submission
FORM 5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Form 3 Holdings Reported
Form 4 Transactions Reported
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL 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
OMB APPROVAL
OMB Number: 3235-0362
Expires: January 31, 2005
Estimated average burden hours per response... 1.0

1. Name and Address of Reporting Person *
RAVEN DAVID E
 2. Issuer Name and Ticker or Trading Symbol
NBT BANCORP INC [NBTB] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President & CEO Pennstar
(Last)
(First)
(Middle)

52 SOUTH BROAD STREET		 3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/2007
(Street)


NORWICH, NY 13815		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Reporting
(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 at end of Issuer's Fiscal Year
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Amount (A) or (D) Price
NBT Bancorp Inc. Common Stock 12/31/2007   J 1,255.338 A $ 0 (1) 13,075.4379 I 401k
NBT Bancorp Inc. Common Stock 12/31/2007   J 101.731 A $ 0 (2) 1,565.6567 I NBT Bancorp ESOP
NBT Bancorp Inc. Common Stock             18,802 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 2270 (9-02)

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 at End of Issuer's Fiscal Year
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
(A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Qualified Stock Option (right to buy) $ 11.6424           01/28/1998(3) 01/28/2007 NBT Bancorp Inc. Common Stock
0.5
  0.5
D
 
Non-Qualified Stock Option (right to buy) $ 16.0625           01/22/2002(3) 01/22/2011 NBT Bancorp Inc. Common Stock
17,400
  17,400
D
 
Non-Qualified Stock Option (right to buy) $ 17.538           01/01/2004(3) 01/01/2013 NBT Bancorp Inc. Common Stock
18,450
  18,450
D
 
Non-Qualified Stock Option (right to buy) $ 19.4886           07/07/2001(4) 07/07/2009 NBT Bancorp Inc. Common Stock
2,315.25
  2,315.25
D
 
Non-Qualified Stock Option (right to buy) $ 20.5952           01/26/2000(3) 01/26/2009 NBT Bancorp Inc. Common Stock
5,145
  5,145
D
 
Non-Qualified Stock Option (right to buy) $ 22.1715           01/01/2005(3) 01/01/2014 NBT Bancorp Inc. Common Stock
15,831
  15,831
D
 
Non-Qualified Stock Option (right to buy) $ 22.352           01/01/2007(3) 01/01/2016 NBT Bancorp Inc. Common Stock
20,000
  20,000
D
 
Non-Qualified Stock Option (right to buy) $ 23.1133           01/26/2007(4) 01/26/2015 NBT Bancorp Inc. Common Stock
1,543
  1,543
D
 
Non-Qualified Stock Option (right to buy) $ 23.2708           01/20/2006(3) 01/20/2015 NBT Bancorp Inc. Common Stock
16,289
  16,289
D
 
Non-Qualified Stock Option (right to buy) $ 25.762           01/01/2008(3) 01/01/2017 NBT Bancorp Inc. Common Stock
19,000
  19,000
D
 

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
RAVEN DAVID E
52 SOUTH BROAD STREET
NORWICH, NY 13815		       President & CEO Pennstar  

Signatures

By: Michael J. Chewens, Power of Attorney For: David E. Raven 01/15/2008
**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) Shares were purchased from 1/1/2007 through 12/31/2007 through NBT Bancorp Inc. 401k Plan.
(2) Shares were purchased from 1/1/2007 through 12/31/2007 through NBT Bancorp Inc. ESOP Plan.
(3) Pursuant to NBT Bancorp Inc. 1993 Stock Option Plan grant vests 40% for first year, 20% annually for following years.
(4) Pursuant to NBT Bancorp Inc. 1993 Stock Option Plan reload grant vests 100% two years after date of its grant.

Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.