Item 7.01. REGULATION FD DISCLOSURE.

On July 29, 2009, representatives of Alliance Financial Corporation ("the Company") delivered a presentation to investors and analysts at the Keefe, Bruyette & Woods 10th Annual Community Bank Investor Conference in New York City. A copy of the presentation is attached as Exhibit 99.1.

The information in this Form 8-K, including Exhibit 99.1 attached hereto, shall not be deemed to be "filed" for purposes of Section 18 of the Securities and Exchange Act of 1934 (the "Exchange Act"), or otherwise subject to the liability of such section, nor shall it be deemed incorporated by reference in any filing of the Company under the Securities Act of 1933 or the Exchange Act, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.

Item 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

(a) Not applicable

(b) Not applicable

(c) Not applicable

(d) Exhibits

Exhibit No. Description

99.1 Alliance Financial Corporation Presentation

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