ONEIDA FINANCIAL

The Bank was organized in 1866 as a New York-chartered mutual savings bank. At June 30, 1998, the Bank had total assets of $217.6 million, total deposits of $189.2 million, and retained earnings of $28.0 million. The Bank is a community-oriented savings bank that operates from its main office and four branch locations in Camden, Cazenovia, Hamilton and Oneida, New York. Historically, the Bank has emphasized the origination of loans secured by residential real estate. In recent year... s, the Bank also has increased its consumer, commercial real estate and commercial business lending. At June 30, 1998, $88.0 million, or 62.0%, of the Bank's loan portfolio consisted of loans secured by one-to-four family real estate, $16.8 million, or 11.9%, consisted of consumer loans, $14.5 million, or 10.2%, consisted of loans secured by commercial real estate, and $11.6 million, or 8.1%, consisted of commercial business loans. The Bank also invests in investment securities and mortgage- backed securities.More