NBT Bank Merger

10/8/2012 (Updated 10:57:16 PM)

Banking is getting a boost in the Southern Tier.

Norwich-based NBT Bank is acquiring the Syracuse-based Alliance Financial in a merger valued at over $223 million.

NBT will add Alliance's 28 locations in Central New York to it's 135 branches throughout the northeast.

The Alliance branches will take the NBT name after the merger, which is still subject to regulatory approval and the approval of shareholders.

Investors liked the idea.  Shares of Alliance Financial jumped over 16% on the announcement.