BRIEF-NBT Bancorp to buy Alliance Financial Corp

Oct 8 (Reuters) - NBT Bancorp Inc :

* Nbt bancorp inc., alliance financial corporation enter into merger agreement

* Says merger is valued at approximately $233.4 million

* Each outstanding share of alliance common stock will be converted into right to receive 2.1779 shares of NBT stock

* Says deal will also provide NBT with the addition of $1.4 billion in assets

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