THURSDAY, OCTOBER 29, 1998

NEW YORK—The Federal Reserve Bank of New York Thursday approved the application by Oneida Financial, MHC, and its subsidiary, Oneida Financial Corp., both of Oneida, NY, for Oneida Financial, MHC to acquire a majority of Oneida Financial Corp.’s common stock and, immediately thereafter, for Oneida Financial Corp. to acquire 100 percent of the common stock of The Oneida Savings Bank, Oneida, NY.

According to standard procedure, the proposal cannot be completed for 15 days.

The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.