UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

NOTICE OF EFFECTIVENESS

Effective Date: May 18, 2017
Accession Number: 0001144204-17-027573
Submission Type: POS AM
CIK: 0000726517
Company Name: MERCHANTS BANCSHARES INC
File Number: 333-41051
Merchants Bancshares, Inc. (NASDAQ:MBVT)
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