<SEC-DOCUMENT>0001104659-16-164061-index.html : 20161228
<SEC-HEADER>0001104659-16-164061.hdr.sgml : 20161228
<ACCEPTANCE-DATETIME>20161228160204
ACCESSION NUMBER:		0001104659-16-164061
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20161215
FILED AS OF DATE:		20161228
DATE AS OF CHANGE:		20161228

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MERCHANTS BANCSHARES INC
		CENTRAL INDEX KEY:			0000726517
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				030287342
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		275 KENNEDY DRIVE
		CITY:			SOUTH BURLINGTON
		STATE:			VT
		ZIP:			05403
		BUSINESS PHONE:		8026583400

	MAIL ADDRESS:	
		STREET 1:		275 KENNEDY DRIVE
		CITY:			SOUTH BURLINGTON
		STATE:			VT
		ZIP:			05403

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Donovan Richard M
		CENTRAL INDEX KEY:			0001692357

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-11595
		FILM NUMBER:		162072662

	MAIL ADDRESS:	
		STREET 1:		C/O MERCHANTS BANK
		STREET 2:		275 KENNEDY DRIVE
		CITY:			SOUTH BURLINGTON
		STATE:			VT
		ZIP:			05402
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>a3.xml
<DESCRIPTION>3
<TEXT>
Document 1 - file: a3.html

Document 1 - RAW XML: a3.xml

</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>ex-24.htm
<DESCRIPTION>EX-24
<TEXT>
Document 2 - file: ex-24.htm

</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>g238641ksi001.gif
<DESCRIPTION>GRAPHIC
<TEXT>
Document 3 - file: g238641ksi001.gif

</DOCUMENT>
</SEC-DOCUMENT>