Oneida Financial (ONFC) Acquires NY-Based Schenectady Insuring Agency

December 17, 2012 5:23 PM EST
Oneida Financial Corp. (Nasdaq: ONFC), the parent company of Oneida Savings Bank, announced that the Bank executed a definitive purchase agreement to acquire McMahon, Fenaroli and White, Inc., an insurance agency operating in Schenectady, New York and doing business as Schenectady Insuring Agency ("SIA").

Oneida Financial Corp. currently conducts insurance and risk management service activities through Bailey & Haskell Associates, Inc., an insurance agency that operates as a wholly owned subsidiary of The Oneida Savings Bank. The insurance subsidiary does business as the Bailey Haskell & LaLonde Agency ("BHL"") with New York offices in Oneida, North Syracuse, Cazenovia, Chittenango, New Hartford, Buffalo and Malverne, and a South Carolina office in Fort Mill. McMahon, Fenaroli and White, Inc. will be merged into BHL on December 31, 2012, the effective date of the acquisition, and will continue to operate from their Schenectady, New York offices.

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