SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                    FORM 10-Q

(Mark One)

[X]         QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (D) OF THE SECURITIES
            EXCHANGE ACT OF 1934

                  For the quarterly period ended June 30, 2000

                                       OR

[ ]         TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (D) OF THE SECURITIES
            EXCHANGE ACT OF 1934

                     For the transition period from           to
                                                     ---------  ----------

                    Securities Exchange Act Number 000-25101


                             ONEIDA FINANCIAL CORP.
                        --------------------------------
             (Exact name of registrant as specified in its charter)

          Delaware                                            16-1561678
-------------------------------                         -----------------------
(State or other jurisdiction of                             (IRS Employer)
incorporation or organization)                          Identification Number)


                     182 Main Street, Oneida, New York 13421
                  --------------------------------------------
                    (Address of Principal Executive Offices)


Registrant's telephone number, including area code:  (315) 363-2000
                                                     ----------------

--------------------------------------------------------------------------------
Former name, former address and former fiscal year, if changed since last report

Indicate by check x whether the Registrant has filed all reports  required to be
filed by Sections 13, or 15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the Registrant was required
to file such reports),  and (2) has been subject to such filing requirements for
the past 90 days. Yes [X]   No [_]

                APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                   PROCEEDING DURING THE PRECEDING FIVE YEARS:

Indicate  by check mark  whether  the  Registrant  has filed all  documents  and
reports  required  to be filed by  Sections  12, 13, or 15(d) of the  Securities
Exchange Act of 1934 subsequent to the  distribution of securities  under a plan
confirmed by a court. Yes     No

                      APPLICABLE ONLY TO CORPORATE ISSUERS:

Indicate the number of shares  outstanding  of each of the  issuer's  classes of
common stock, as of the latest  practicable date: There were 3,163,302 shares of
the Registrant's common stock outstanding as of August 1, 2000.
<PAGE>


                             ONEIDA FINANCIAL CORP.
                                      INDEX
<TABLE>
<CAPTION>

                                                                                          Page
                                                                                          ----
PART I.        FINANCIAL INFORMATION

<S>            <C>                                                                          <C>
    Item 1.    Financial Statements                                                         1

               Consolidated Statements of  Condition (unaudited)                            2
               As of  June 30, 2000 and  December 31, 1999 (audited)

               Consolidated Statements of Operations (unaudited)                            3
               For the three months ended and six months ended June 30, 2000 and 1999

               Consolidated Statements of Comprehensive Income (unaudited)                  4
               For the three months ended and six months ended June 30, 2000 and 1999

               Consolidated Statements of Cash Flows (unaudited)                            5
               For the three months ended and six months ended June 30, 2000 and 1999

               Notes to Consolidated Financial Statements (unaudited)                       6

   Item 2.     Management's Discussion and Analysis of Financial Condition                  8
                  and Results of Operations

   Item 3.     Quantitative and Qualitative Disclosures About Market Risk                   13

PART II.       OTHER INFORMATION                                                            14
</TABLE>


<PAGE>


PART I.            FINANCIAL INFORMATION
                                 Item I.    Financial Statements




                                        1

<PAGE>

ONEIDA FINANCIAL CORP. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CONDITION
At June 30, 2000 and December 31, 1999
<TABLE>
<CAPTION>

                                                               (unaudited)      (audited)
                                                                   At              At
                                                                June 30,       December 31,
                                                                  2000            1999
                                                                  ----            ----
                                                                     (in thousands)
<S>                                                           <C>               <C>
ASSETS
               Cash and due from banks                        $   5,986         $   8,815
               Federal funds sold
                                                         --------------------------------
  TOTAL CASH AND CASH EQUIVALENTS                                 5,986             8,815

               Investment securities, at fair value              87,881            85,543
               Mortgage-backed securities, at fair value         35,275            26,355
                                                         --------------------------------
   TOTAL INVESTMENT SECURITIES                                  123,156           111,898

               Mortgage loans held for sale                       1,280               341
               Loans receivable                                 160,262           150,328
               Allowance for credit losses                       (1,590)           (1,523)
                                                         --------------------------------
   LOANS RECEIVABLE, NET                                        158,672           148,805

               Bank premises and equipment, net                   5,526             5,301
               Accrued interest receivable                        1,886             1,766
               Other real estate                                     91                94
               Other assets                                       3,161             3,192
              ---------------------------------------------------------------------------
               TOTAL ASSETS                                   $ 299,758         $ 280,212
              ===========================================================================
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
               Due to Depositors                              $ 194,137         $ 188,271
               Mortgagors' escrow funds                             925               849
               Borrowings                                        64,300            50,200
               Other Liabilities                                    630               941
                                                         --------------------------------
TOTAL LIABILITIES                                               259,992           240,261
Shareholders' equity:
               Common stock ( $.10 par value; 8,000,000
                     shares authorized;  3,663,438 and              366               358
                     3,580,200 shares issued)
               Additional paid-in capital                        16,289            15,413
               Retained earnings                                 30,361            29,682
               Common shares issued under employee
                     stock plans - unearned                      (1,167)           (1,167)
               Accumulated other comprehensive income(loss)      (2,221)           (2,584)
               Treasury stock (at cost, 282,149 and
                                          167,100 shares)        (3,004)           (1,751)
               Unearned stock compensation                         (858)
   --------------------------------------------------------------------------------------
   TOTAL SHAREHOLDERS' EQUITY                                    39,766            39,951
   --------------------------------------------------------------------------------------
               TOTAL LIABILITIES AND
               SHAREHOLDERS' EQUITY                           $ 299,758         $ 280,212
               ==========================================================================
</TABLE>

   The accompanying notes are an integral part of the consolidated financial
                                   statements

                                        2
<PAGE>


ONEIDA FINANCIAL CORP. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
For the Three Months Ended and Six Months  Ended June 30, 2000  (unaudited)  and
1999 (unaudited )

<TABLE>
<CAPTION>

                                                                    Three Months Ended                Six Months Ended
                                                                June 30,           June 30,      June 30,           June 30,
                                                                  2000              1999          2000                1999
                                                                  ----              ----          ----                ----
                                                                    ( in thousands, except Earnings Per Share Data )
<S>                                                             <C>              <C>             <C>              <C>

INTEREST INCOME:
               Interest and fees on loans                       $  3,361         $  2,677        $  6,541         $  5,440
               Interest on investment and mortgage-
                             backed securities                     1,720            1,707           3,338            3,161
               Dividends on equity securities                        334               32             620               55

               Interest on federal fund sold and
                     interest-bearing deposits                        11               78              27              203

--------------------------------------------------------------------------------------------------------------------------
   Total interest and dividend income                              5,426            4,494          10,526            8,859
--------------------------------------------------------------------------------------------------------------------------
INTEREST EXPENSE:
               Savings deposit                                       276              270             551              545
               Money market and Super NOW                            174              155             344              289
               Time deposits                                       1,388            1,375           2,728            2,781
               Borrowings                                            954              401           1,761              603
--------------------------------------------------------------------------------------------------------------------------
                             Total interest expense                2,792            2,201           5,384            4,218
--------------------------------------------------------------------------------------------------------------------------
NET INTEREST INCOME                                                2,634            2,293           5,142            4,641
               Less: Provision for credit losses                      84               45             150               90
--------------------------------------------------------------------------------------------------------------------------
   Net interest income after provision for credit losses           2,550            2,248           4,992            4,551
--------------------------------------------------------------------------------------------------------------------------
OTHER INCOME:
               Investment security gain(loss), net                  (149)             280            (149)             281
               Other operating income                                251              203             509              437
--------------------------------------------------------------------------------------------------------------------------
   Total other income                                                102              483             360              718
--------------------------------------------------------------------------------------------------------------------------
OTHER EXPENSES:
               Compensation and employee benefits                  1,070            1,030           2,155            1,909
               Occupancy expenses, net                               365              316             712              652
               Other operating expense                               364              507             771              836
--------------------------------------------------------------------------------------------------------------------------
   Total other expenses                                            1,799            1,853           3,638            3,397
--------------------------------------------------------------------------------------------------------------------------
INCOME BEFORE INCOME TAXES                                           853              878           1,714            1,872
--------------------------------------------------------------------------------------------------------------------------
   Provision for income taxes                                        236              270             490              659
--------------------------------------------------------------------------------------------------------------------------
NET INCOME                                                      $    617         $    608        $  1,224         $  1,213
==========================================================================================================================

EARNINGS PER SHARE - BASIC and DILUTED                          $   0.19         $   0.17        $   0.38         $   0.34
==========================================================================================================================
</TABLE>

   The accompanying notes are an integral part of the consolidated financial
                                  statements.

                                        3

<PAGE>

ONEIDA FINANCIAL CORP. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
For the Three Months Ended and Six Months  Ended June 30, 2000  (unaudited)  and
1999 (unaudited)

<TABLE>
<CAPTION>
                                                                     Three Months Ended          Six Months Ended
                                                                     June 30,    June 30,     June 30,       June 30,
                                                                      2000        1999          2000           1999
                                                                      ----        ----         -----           ----
                                                                        (in thousands)
<S>                                                                <C>          <C>           <C>           <C>
Net income                                                         $   617      $   608       $ 1,224       $ 1,213
                                                                   --------     --------     ---------     ---------
      Other comprehensive income, net of tax:
        Unrealized gains(losses) on assets available for sale:
      Unrealized holding gains (losses)
          arising during period                                        974       (1,992)          456        (2,612)
      Less: reclassification adjustment for
                   losses (gains) included in net income               149         (280)          149          (281)
                                                                   --------     --------     ---------     ---------
                                                                                  1,123        (2,272)          605
                                                                                                             (2,893)
      Net income tax benefit effect                                   (449)         909          (242)        1,157
                                                                   --------     --------     ---------     ---------
Other comprehensive income(loss), net of tax                           674       (1,363)          363        (1,736)

         Comprehensive Income                                      $ 1,291      $  (755)      $ 1,587       $  (523)
                                                                   ========     ========     =========     =========
</TABLE>

   The accompanying notes are an integral part of the consolidated financial
                                  statements.

                                       40

<PAGE>


ONEIDA FINANCIAL CORP. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF CASH FLOWS
For the Three Months Ended and Six Months  Ended June 30, 2000  (unaudited)  and
1999 (unaudited )
<TABLE>
<CAPTION>
                                                                        Three Months Ended                 Six Months Ended
                                                                     June 30,         June 30,         June 30,         June 30,
                                                                      2000              1999             2000             1999
                                                                      ----              ----             ----             ----
                                                                          (in thousands)
<S>                                                                <C>              <C>                 <C>              <C>
     Operating Activities:
   Net income                                                      $    617         $    608            1,224            1,213
   Adjustments to reconcile net income to net
    cash provided by operating activities:
      Stock based compensation earned                                    26                0               26                0
      Depreciation                                                      170              162              340              327
      Amortization of premiums/discounts on securities, net             (33)             (24)             (28)             (18)
      Provision for credit losses                                        84               45              150               90
      Loss on sale of other real estate                                   0               31                7               31
      Loss (Gain) on sale/call of securities, net                       149             (280)             149             (281)
      (Gain) Loss on sale of loans, net                                  (5)               6               (8)             (22)
      Income tax payable                                               (256)            (408)            (490)             (73)
      Accrued interest receivable                                       387             (106)            (120)            (297)
      Other assets                                                      (74)              26             (211)            (182)
      Other liabilities                                                 (27)             285              179              216
      Origination of loans held for sale                             (2,040)               0           (2,506)          (3,984)
      Proceeds from sales of loans                                    1,266            1,924            1,575            5,678
------------------------------------------------------------------------------------------------------------------------------
          Net cash provided by operating activities                     264            2,269              287            2,698
------------------------------------------------------------------------------------------------------------------------------
Investing Activities:
  Purchase of investment securities                                  (2,855)         (29,828)          (8,813)         (58,293)
  Principal collected on and proceeds of maturities
      or calls from investments                                       6,897           13,927            6,909           24,449
  Purchase of mortgage-backed securities                             (2,450)          (5,182)         (10,432)          (8,215)
  Principal collected from mortgage-backed securities                   869            1,174            1,563            3,006
  Net (increase) decrease in loans                                   (3,362)          (6,170)         (10,089)          (3,875)
  Purchase of bank premises and equipment                              (475)            (400)            (565)            (634)
  Proceeds from sale of other real estate                                25               47               68              130
------------------------------------------------------------------------------------------------------------------------------
          Net cash used in investing activities                      (1,351)         (26,432)         (21,360)         (43,432)
------------------------------------------------------------------------------------------------------------------------------
Financing Activities:
  Net increase (decrease) in demand deposit, savings,
      money market, super now and escrow                               (778)           6.294            4,237            3,707
  Net increase (decrease) in time deposits                              180             (120)           1,705           (4,250)
  Proceeds from  borrowings                                           6,300           20,000           29,500           30,000
  Repayment of borrowings                                            (5,000)          (5,000)         (15,400)          (5,000)
   Cash dividends                                                         0                0             (546)               0
   Purchase of treasury stock                                          (475)               0           (1,253)               0
  Adjust net proceeds                                                     0                0                0             (123)
  Common stock acquired by ESOP                                           0                0                0             (913)
------------------------------------------------------------------------------------------------------------------------------
          Net cash provided by financing activities                     227           21,174           18,243           23,421
------------------------------------------------------------------------------------------------------------------------------
Decrease in cash and cash equivalents                                  (860)          (2,989)          (2,829)         (17,313)
------------------------------------------------------------------------------------------------------------------------------
Cash and cash equivalents at beginning of year                        6,846           11,832            8,815           26,156
------------------------------------------------------------------------------------------------------------------------------
Cash and cash equivalents at end of year                              5,986            8,843            5,986            8,843
                                    ==========================================================================================
Supplemental disclosures of cash flow information:
Cash paid for interest                                                2,861            2,018            5,343            4,034
Cash paid for income taxes                                              497              678              502              678
Non-cash investing activities:
Unrealized gain (loss) on investment and mortgage-backed
     securities designated as available for sale                      1,124           (2,262)             606           (2,882)
Transfer of loans to other real estate                                    0              159               72              201
                                    ==========================================================================================
</TABLE>


   The accompanying notes are an integral part of the consolidated financial
                                  statements.

                                        5

<PAGE>

                             Oneida Financial Corp.
                   Notes to Consolidated Financial Statements

                                   (Unaudited)
                                  June 30, 2000

Note A - Basis of Presentation

The accompanying  unaudited consolidated financial statements have been prepared
in  accordance  with  generally  accepted  accounting   principles  for  interim
financial  information and with the  instructions to Form 10-Q and Rule 10-01 of
Regulation  S-X.  Accordingly,  they do not include all of the  information  and
footnotes  required by generally  accepted  accounting  principles  for complete
financial statements. In the opinion of management,  all adjustments (consisting
of normal  recurring  accruals)  necessary  to fairly  present the  consolidated
financial  position  of the  Company  at June 30,  2000 and the  results  of its
consolidated  operations  and cash  flows for the  period  then  ended have been
included.  Operating results for the three-month period and six month period are
not  necessarily  indicative  of the results  that may be expected  for the year
ended December 31, 2000.

Note B - Earnings Per Share

Basic  earnings  per share is  computed  based on the  weighted  average  shares
outstanding.  Diluted  earnings  per  share is  computed  based on the  weighted
average  shares  outstanding  adjusted  for the  dilutive  effect of the assumed
exercise  of stock  options  and awards  during  the year.  The  following  is a
reconciliation of basic to diluted earnings per share for the three months ended
and six months ended June 30, 2000 and 1999:

<TABLE>
<CAPTION>

                                                   Income           Shares      Per Share
<S>                                             <C>                <C>           <C>
For the Three Months Ended June 30, 2000:
=========================================

Net income (Three Months Ended)                 $  616,537
                                                ==========

Basic Earnings Per Share:                       $  616,537         3,214,476     $   0.19
                                                                                 ========
Effect of dilutive securities:
               Stock options                             0             2,317
                                                ----------------------------
Diluted Earnings Per Share                      $  616,537         3,216,793     $   0.19
                                                                                 ========

For the Six Months Ended June 30, 2000:
========================================

Net income (Six Months Ended)                   $1,224,281
                                                ==========

Basic Earnings Per Share:                       $1,224,281         3,249,308     $   0.38
                                                                                 ========
Effect of dilutive securities:
               Stock options                             0             1,159
                                                ----------------------------
Diluted Earnings Per Share                      $1,224,281         3,250,467     $   0.38
                                                                                 ========


For the Three Months Ended June 30,1999:
========================================

Net income (Three Months Ended)                 $  607,588
                                                ==========

Basic and Diluted Earnings Per Share            $  607,588         3,460,503     $   0.18
                                                                   =========     ========



For the Six Months Ended June 30,1999:

Net income (Three Months Ended)                 $1,212,666
                                                ==========

Basic and Diluted Earnings Per Share            $1,212,666         3,462,073     $   0.35
                                                                   =========     ========
</TABLE>


                                       6
<PAGE>


Note C - Formation of Real Estate Investment Trust Subsidiary

On April 26, 1999,  the Bank funded Oneida  Preferred  Funding  Corp.,  a wholly
owned subsidiary corporation that will elect under Federal tax law to be treated
as a Real Estate  Investment  Trust (REIT).  The REIT was initially  funded with
$43.1 million of 1-4 family  residential  real estate loans and commercial  real
estate loans. The REIT is expected to allow the Bank to more competitively price
real estate  loans and provide  other  benefits in future  periods.  At June 30,
2000, the principal balance outstanding of real estate loans in the REIT totaled
$41.7 million.

Note D - Letter of Intent

On April 25,  2000,  the  Company  announced  that a Letter  of intent  has been
executed  to  acquire  Bailey  and  Haskell  Associates,  Inc.,  an  independent
insurance  agency  located n Central  New York  State.  The  agency  provides  a
diversified  portfolio of insurance  products  and services to  individuals  and
businesses  in Madison,  Oneida,  and  Onondaga  counties.  The  acquisition  is
expected to be completed before the end of the year, subject to the execution of
a definitive purchase agreement and necessary regulatory approval.

Note E - Stock Compensation Plans


On April 25, 2000,  shareholder  approval was obtained for the acceptance of the
Oneida  Financial  Corp.  2000  Recognition  and  Retention  Plan and the Oneida
Financial Corp.  2000 Stock Option Plan. The Plans authorize  83,238 and 166,475
shares  respectively of the Company's common stock to be used for the purpose of
granting  awards  under  the  terms of the  plans.  Under  the  Recognition  and
Retention Plan, the company issued 83,238 shares of stock in April 2000 of which
74,000  shares  have been  awarded.  The Company  recorded  $884,404 in unearned
compensation  expense to be recognized over the five year vesting period.  As of
June 30,  2000,  $26,000 has been  expensed to date.  The Stock  Option plan has
awarded  150,500  shares of the  authorized  shares  available in the Plan.  All
options  granted  have a ten year term with the  options  vesting  on a pro-rata
basis over a five year period.  The exercise price of each option is $10.625 per
share, which was the closing market price of Oneida Financial Corp. common stock
on April 25, 2000 the date of the grant.


                                       7

<PAGE>

                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS


               This section presents Management's discussion and analysis of and
changes  to the  Company's  consolidated  financial  results of  operations  and
condition  and  should  be read in  conjunction  with  the  Company's  financial
statements and notes thereto included herein.

               When used in this  quarterly  report the words or  phrases  "will
likely   result,"  "are  expected  to,"  "will   continue,"  "is   anticipated,"
"estimate,"   "project"  or  similar   expressions   are  intended  to  identify
"forward-looking  statements"  within  the  meaning  of the  Private  Securities
Litigation  Reform Act of 1995. Such statements are subject to certain risks and
uncertainties,  including, among other things, changes in economic conditions in
the  Company's  market  area,  changes  in  policies  by  regulatory   agencies,
fluctuations  in interest rates,  demand for loans in the Company's  market area
and  competition,  that could cause  actual  results to differ  materially  from
historical  earnings and those presently  anticipated or projected.  The Company
wishes  to  caution   readers   not  to  place   undue   reliance  on  any  such
forward-looking  statements,  which speak only as of the date made.  The Company
wishes  to advise  readers  that the  factors  listed  above  could  affect  the
Company's financial performance and could cause the Company's actual results for
future periods to differ  materially  from any opinions or statements  expressed
with respect to future periods in any current statements.

               The Company does not  undertake,  and  specifically  declines any
obligation, to publicly release the result of any revisions which may be made to
any forward-looking statements to reflect events or circumstances after the date
of such statements or to reflect the occurrence of anticipated or  unanticipated
events.

GENERAL

               On December 30, 1998 the Company completed its reorganization and
initial public stock  offering  providing a total of $15.9 million in additional
paid in  capital.  A total of  3,580,200  shares of common  stock were issued of
which  1,915,445  shares were issued to Oneida  Financial MHC the mutual holding
company  parent of the  Company.  Approximately  half of the net proceeds of the
stock offering were invested into the Bank.

               The Company is the parent company of The Oneida Savings Bank (the
"Bank"). The Company conducts no business other than holding the common stock of
the Bank and general investment activities resulting from the capital raised and
retained in the initial public stock offering.  Consequently,  the net income of
the Company is primary  derived from its  investment in the Bank. The Bank's net
income  is  primarily  dependent  on  its  net  interest  income,  which  is the
difference   between  interest  income  earned  on  its  investments  in  loans,
investment  securities  and  mortgage-backed  securities  and its  cost of funds
consisting of interest paid on deposits and borrowings. The Bank's net income is
also  affected by its  provision  for loan  losses,  as well as by the amount of
other  income,  including  income from fees and service  charges,  net gains and
losses  on sales of  investments  and  loans,  and  operating  expenses  such as
employee  compensation  and benefits,  occupancy and equipment  costs and income
taxes. Earnings of the Bank are also affected  significantly by general economic
and competitive conditions, particularly changes in market interest rates, which
tend to be highly  cyclical,  and government  policies and actions of regulatory
authorities, which events are beyond the control of the Bank.


RECENT DEVELOPMENTS

               On April 26,  1999,  the Bank  funded  Oneida  Preferred  Funding
Corp., a wholly owned  subsidiary  corporation that will elect under Federal tax
law to be  treated  as a Real  Estate  Investment  Trust  (REIT).  The  REIT was
initially funded with $43.1 million of 1-4 family  residential real estate loans
and commercial real estate loans. The REIT is expected to allow the Bank to more
competitively  price real  estate  loans and  provide  other  benefits in future
periods. At June 30, 2000 the principal balance outstanding of real estate loans
in the REIT totaled $41.7 million.

               The Bank continues  employing a wholesale  arbitrage  strategy to
compliment  traditional  retail  deposit  and  loan  activities.  The  arbitrage
transactions have involved entering into borrowing transactions with the Federal
Home Loan Bank of New York  ("FHLB")  as a funding  source for the  purchase  of
investment securities and mortgage-backed  securities. At June 30, 2000 the Bank
had total  borrowings of $64.3  million at an average cost of 6.16%.  The Bank's
net income is enhanced  through the positive  spread  between the borrowing rate
and investment returns.

               On July 1,  1999 the  Company  commenced  a 5%  stock  repurchase
program, representing 179,010 shares of common stock. The repurchase program was
completed  during  the  first  quarter  of 2000  with  11,900  remaining  shares
purchased.  The average cost of the shares  purchased in the program was $10.493
per share.

                                        8

<PAGE>

               On  February 2, 2000 the  Company  commenced  its second 5% stock
repurchase program,  representing  170,000 shares of the Company's common stock.
The repurchase  program is expected to be completed  within six months.  Through
June 30, 2000 a total of 103,139 shares were  repurchased at an average price of
$10.916. The Company considers the common stock to be an attractive  investment,
particularly  in view of the current  price at which the common stock is trading
relative to the  Company's  earnings per share,  book value per share and market
and economic factors generally, as well as other factors.

               On April 25, 2000 the Company  announced  that a Letter of Intent
had been executed to acquire Bailey and Haskell Associates,  Inc. an independent
insurance  agency  located  in Central  New York  State.  The agency  provides a
diversified  portfolio of insurance  products  and services to  individuals  and
businesses in Madison, Oneida and Onondaga counties. The acquisition is expected
to be  completed  before  the end of the year,  subject  to the  execution  of a
definitive purchase agreement and necessary regulatory approvals.


               On April 25,  2000,  shareholder  approval  was  obtained for the
acceptance of the Oneida Financial Corp. 2000 Recognition and Retention Plan and
the Oneida  Financial Corp.  2000 Stock Option Plan. The Plans authorize  83,238
and 166,475 shares respectively of the Company's common stock to be used for the
purpose of granting  awards under the terms of the plans.  Under the Recognition
and Retention  Plan,  the company issued 83,238 shares of stock in April 2000 of
which 74,000 shares have been awarded. The company recorded $884,404 in unearned
compensation  expense to be recognized over the five year vesting period.  As of
June 30,  2000,  $26,000 has been  expensed to date.  The Stock  Option plan has
awarded  150,500  shares of the  authorized  shares  available in the Plan.  All
options  granted  have a ten year term with the  options  vesting  on a pro-rata
basis over a five year period.  The exercise price of each option is $10.625 per
share, which was the closing market price of Oneida Financial Corp. common stock
on April 25, 2000 the date of the grant.



FINANCIAL CONDITION

               ASSETS.  Total  assets at June 30, 2000 were $299.8  million,  an
increase of $19.6 million from $280.2 million at December 31, 1999. The increase
in total assets was achieved  through a balance of retail and wholesale  banking
activities. Investment and mortgage-backed securities increased $11.2 million as
a result of the Bank's continuing leveraging  strategies.  Asset growth was also
supported  by an  increase  of $10.8  million  or 7.2% in net loans  receivable.
Management has sought to increase the Bank's  consumer and  commercial  business
loan  portfolios  with the intent of increasing  the average yield on the Bank's
interest-earning  assets.  At June  30,  2000,  total  consumer  and  commercial
business  loans  increased by $5.8 million from December 31, 1999. The Bank also
increased its residential real estate loans by $4.0 as a result of the increased
demand for adjustable rate loan products in the current rate environment.

               LIABILITIES. Total liabilities increased by $19.7 million or 8.2%
to $260.0 million at June 30, 2000 from $240.3 million at December 31, 1999. The
increase is primarily  the result of an increase of $14.1  million in borrowings
as well as an increase of $5.9 million in total deposits. Of the increase,  $5.1
million was in Money Market and Now accounts  which are lower  yielding  deposit
products. The Bank's newest branch addition in Canastota, New York, which opened
in November  1999,  has total  deposits of $3.3 million as of June 30, 2000 with
$2.4 million in deposit growth during the first half of 2000.

               STOCKHOLDERS' EQUITY. Total stockholders' equity at June 30, 2000
was $39.8  million,  a decrease of $185,000  from $40.0  million at December 31,
1999. The decrease in  stockholder's  equity is primarily a result of management
efforts to  effectively  manage the Company's  capital  through a combination of
stock  repurchases and dividends.  The Company has acquired  115,049  additional
shares of its common  stock,  at an average  price of $10.891  per share,  since
December 31, 1999  resulting  in an increase of $1.3  million in Treasury  stock
held. The current stock repurchase program authorizes an additional 66,861shares
for  purchase  by the  Company.  The  Company  also paid its  second  semiannual
dividend at the rate of $0.16 resulting in an equity reduction of $546,000.  The
decreases  in  stockholders'  equity were  partially  offset by the  addition of
after-tax net income and an increase in Accumulated Other  Comprehensive  Income
(Loss). Retained Earnings increased as the result of the addition of $1,224,0000
in  after-tax  net income for the six months  ended June 30,  2000.  Accumulated
Other  Comprehensive  Income  (Loss)  increased  $363,000 from December 31, 1999
primarily as a result of a favorable  adjustment in the net  unrealized  loss on
available  for sale  mortgage-backed  and  other  investment  securities  due to
changes in the market  interest rates at June 30, 2000 as compared with December
31, 1999.  Changes in interest  rates  generally  have an inverse  impact on the
market  value  of  the  Company's  investments  and  mortgage-backed  securities
portfolios.

                                        9

<PAGE>


ANALYSIS OF NET INTEREST INCOME

               Net interest income  represents the difference  between income on
interest-earning  assets  and  expense  on  interest-bearing   liabilities.  Net
interest income also depends on the relative amounts of interest-earning  assets
and  interest-bearing  liabilities  and the interest  rate earned or paid on the
assets or liabilities.

               AVERAGE  BALANCE  SHEET.  The following  tables set forth certain
information  relating to the Company for the three and six months ended June 30,
2000  and 1999  and for the  year  ended  December  31,  1999.  For the  periods
indicated,  the dollar amount of interest  income from average  interest-earning
assets and the  resultant  yields,  as well as the  interest  expense on average
interest-bearing   liabilities,   is  expressed  in  thousands  of  dollars  and
percentages.  No tax equivalent adjustments were made. The average balance is an
average daily balance.

               TABLE 1.  Average Balance Sheet. (Quarterly)
<TABLE>
<CAPTION>


                                                                           Three Months Ended June 30,
                                          ------------------------------------------------------------------------------------------
                                                               2000                                            1999
-
                                            Average          Interest                       Average          Interest
                                          Outstanding        Earned/        Yield/        Outstanding         Earned/    Yield/
                                            Balance            Paid          Rate           Balance            Paid       Rate
                                            -------            ----          ----           -------            ----       ----
<S>                                          <C>                <C>           <C>           <C>               <C>         <C>

Interest-earning Assets:                                                        ( Dollars in Thousands )
------------------------
  Loans Receivable                           $160,788           $3,361        8.36%         $132,860          $2,677      8.06%
  Investment Securities                       122,534            2,002        6.54%          111,347           1,707      6.13%
  Federal Funds                                   569               11        7.73             6,526              78      4.78%
  Equity Securities                             5,515               52        3.77%            3,544              32      3.61%
                                                -----              ---       -----            ------             ---     -----
    Total Interest-earning Assets            289,406             5,426        7.50%          254,277           4,494      7.07%
                                             --------           ------       -----          --------          ------     -----
Interest-bearing Liabilities:
  Money Market Deposits                       $16,504             $137        3.32%          $14,834            $120      3.24%
  Savings Accounts                             47,138              278        2.36%           48,088             270      2.25%
  Interest-bearing Checking                     8,579               38        1.77%            7,806              35      1.79%
  Time Deposits                               101,827            1,388        5.45%          102,321           1,375      5.38%

Borrowings                                    64,009               953        5.96%           30,567             401      5.25%
                                              -------             ----       -----           -------            ----     -----
    Total Interest-bearing Liabs             238,057             2,794        4.69%          203,616           2,201      4.32%
                                             --------           ------       -----          --------          ------     -----
    Net Interest Income                                         $2,632                                        $2,293
                                                               =======                                       =======
    Net Interest Spread                                                       2.80%                                       2.75%
                                                                             =====                                       =====
    Net Earning Assets                       $51,349                                         $50,661
                                             ========                                        ========
   Net yield on average
      Interest-earning assets                                     3.64%                                         3.61%
                                                                 =====                                         =====
    Average interest-earning
      assets to average
      Interest-bearing liabs                                    121.57%                                       124.88%
                                                               =======                                       =======
</TABLE>


<TABLE>
<CAPTION>


                                                 Twelve Months Ended Dec. 31,
                                           ----------------------------------------
                                                             1999

                                            Average          Interest
                                          Outstanding         Earned/        Yield/
                                            Balance            Paid           Rate
                                            -------            ----           ----
<S>                                           <C>              <C>             <C>

Interest-earning Assets:
------------------------
  Loans Receivable                            $136,765         $11,358         8.30%
  Investment Securities                        104,294           6,757         6.48%
  Federal Funds                                  6,565             323         4.92%
  Equity Securities                              3,709             144         3.88%
                                                ------            ----         -----
    Total Interest-earning Assets              251,333          18,582         7.39%
                                              --------         -------         -----
Interest-bearing Liabilities:
  Money Market Deposits                        $14,985            $491         3.28%
  Savings Accounts                              45,824           1,094         2.39%
  Interest-bearing Checking                      7,890             143         1.81%
  Time Deposits                                103,018           5,488         5.33%

Borrowings                                      32,841           1,769          5.39%
                                               -------          ------         -----
    Total Interest-bearing Liabs               204,558           8,985          4.39%
                                              --------          ------         -----
    Net Interest Income                                          $9,597
                                                                ======
    Net Interest Spread                                                         3.00%
                                                                               =====
    Net Earning Assets                         $46,775
                                               =======
   Net yield on average
      Interest-earning assets                                      3.82%
                                                                  =====
    Average interest-earning
      assets to average
      Interest-bearing liabs                                     122.87%
                                                                =======
</TABLE>

<TABLE>
<CAPTION>

                                                                           Six Months Ended June 30,
                                             ---------------------------------------------------------------------------------------
                                                                  2000                                         1999

                                               Average          Interest                      Average        Interest
                                             Outstanding        Earned/       Yield/        Outstanding       Earned/    Yield/
                                               Balance            Paid         Rate           Balance          Paid       Rate
                                               -------            ----         ----           -------          ----       ----
<S>                                           <C>                <C>           <C>            <C>             <C>          <C>
Interest-earning Assets:                                                                            (Dollars in Thousands)
------------------------
  Loans Receivable                            $157,321           $6,541        8.32%          $131,720        $5,440       8.26%
  Investment Securities                        119,202            3,855        6.47%           100,708         3,161       6.28%
  Federal Funds                                  1,376               26        3.78%             8,667           203       4.68%

  Equity Securities                              5,256              103        3.92%             3,333            55       3.30%
                                                 -----             ----       -----             ------           ---      -----
    Total Interest-earning Assets              283,155           10,525        7.43%           244,428         8,859       7.25%
                                              --------          -------       -----           --------        ------      -----
Interest-bearing Liabilities:
  Money Market Deposits                        $16,284             $269        3.30%           $13,840          $221       2.13%
  Savings Accounts                              46,203              553        2.39%            47,138           545       2.31%
  Interest-bearing Checking                      8,449               76        1.80%             7,504            68       1.81%
  Time Deposits                                101,572            2,728        5.37%           101,921         2,781       5.46%
Borrowings                                      59,555            1,760        5.91%            22,965           603       5.25%
                                               -------           ------       -----            -------          ----      -----
</TABLE>

                                       10

<PAGE>
<TABLE>
<CAPTION>
<S>                                           <C>                <C>           <C>            <C>             <C>          <C>
    Total Interest-bearing Liabs               232,063            5,386        4.64%           193,368         4,218       4.36%
                                              --------           ------       -----           --------        ------      -----
    Net Interest Income                                          $5,139                                       $4,641
                                                                =======                                      ======
    Net Interest Spread                                                        2.79%                                       2.89%
                                                                              =====                                       =====
    Net Earning Assets                         $51,092                                         $51,060
                                              ========                                         =======
   Net yield on average
      Interest-earning assets                                     3.63%                                         3.80%
                                                                  =====                                        =====
    Average interest-earning
      Assets to average
      Interest-bearing liabs                                    122.02%                                       126.41%
                                                                =======                                      =======
</TABLE>

RESULTS OF OPERATIONS

               GENERAL.  Net income  for the three  months  ended June 30,  2000
increased  by $9,000 to $617,000 for the second  quarter 2000 from  $608,000 for
the three months  ended June 30, 1999.  Net income for the six months ended June
30, 2000 was $1.2 million,  consistent  with the reported net income for the six
months ended June 30, 1999.  The increases  were due primarily to an increase in
net interest  income and  decreases in other  expenses and in the  provision for
income  taxes.  The  increases in income were  partially  offset by decreases in
other income and an increase in the provision for credit losses.

               INTEREST INCOME.  Interest Income increased by $932,000 or 20.7%,
to $5.4  million for the three  months ended June 30, 2000 from $4.5 million for
three months  ended June 30, 1999.  For the six months ended June 30, 2000 total
interest  income was $10.5  million,  an  increase  of $1.7  million or 18.8% as
compared  with the same period in 1999.  The  increase  in  interest  income was
primarily derived from an increase in income on loans receivable of $684,000 for
the second  quarter of 2000 and $1.1 million for the year to date.  In addition,
income on  investment  and  mortgage-backed  securities  increased  $13,000  and
$177,000  for the  three  months  ended  and six  months  ended  June  30,  2000
respectively.  Dividend income on equity securities  increased  $302,000 for the
quarter and $565,000 year to date.  Interest on federal funds decreased  $67,000
for the second quarter 2000 and $176,000 year to date  partially  offsetting the
increases in interest income.

               The  increase  in loan income is a result of an increase of $27.9
million in the average  balance in loans  receivable  for the three months ended
June 30, 2000 as compared  with the same period in 1999,  as well as an increase
of 30 basis points in average  yield earned,  increasing  from 8.06% at June 30,
1999 to  8.36% at June 30,  2000.  Management's  strategy  is to  emphasize  the
origination  of consumer  and  commercial  business  loans for  retention in the
Bank's portfolio.  Consumer and commercial business loans increased $5.8 million
during the first and second  quarter 2000.  In addition,  the Bank has increased
the residential  real estate portfolio by $3.1 year to date due to the increased
demand for adjustable rate loan products in the current rate environment.

               Investment  income  increased as a result of an increase of $11.2
million in the average balance of investment and mortgage-backed  securities for
the three month period  ended June 30, 2000 as compared  with the same period in
1999.  The increase in  investment  income was also the result of an increase in
the average yield of  investment  securities of 41 basis points to 6.54% for the
period. For the six months ended June 30, 2000 the average balance of investment
and  mortgage-backed  securities  increased $25.6 million with the average yield
increasing  19 basis  points from 6.28%  during the six month  period in 1999 to
6.47% during the 2000 period.

               Income on federal funds  decreased  during the three months ended
June 30,  2000 to $11,000 as compared  with  $78,000  for the 1999  period.  The
decrease in income is due to a decrease of $6.0  million in the average  balance
of federal funds.  The decrease in the average  balance was due to the temporary
investment of stock proceeds during the 1999 quarter  resulting in a higher than
normal  investment  level and significant  loan growth during 2000 quarter which
has employed excess cash.

               INTEREST EXPENSE. Interest expense was $2.8 million for the three
months  ended June 30,  2000;  an  increase  of  $591,000 or 26.9% from the same
period in 1999.  The  increase  in interest  expense is due to interest  paid on
borrowed funds. The average balance  outstanding in borrowings  during the three
months ended June 30, 2000 was $64.0  million  compared to $30.6 million for the
same period in 1999. Borrowed funds resulted in interest expense of $954,000 for
the  second  quarter of 2000  compared  with  $401,000  of  interest  expense on
borrowed  funds for the 1999 period.  Year to date interest  expense on borrowed
funds has increased $1.2 million from $603,000  during the six months ended June
30,  1999 to $1.8  million  for the 2000  period.  Interest  expense on deposits
increased by $38,000 for the three  months ended June 30, 2000 to $1.8  million,
an increase of 2.1%.  The increase in interest  expense on deposits was due to a
24 basis  point  increase in the  average  rate paid on deposits  for the second
quarter 2000 and an increase in the average balance on deposit  accounts of $1.0
million.  The average balance of deposits for the six months ended June 30, 2000
increased $2.1 million as compared with the same period of 1999, resulting in an
increase in interest expense partially offset by a decrease of 5 basis points in
the average rate paid on deposits during the 2000 period.

                                       11
<PAGE>


               PROVISION FOR CREDIT LOSSES.  Total  provisions for credit losses
for the three  months  ended June 30,  2000 were  $84,000 as compared to $45,000
made during the same period of 1999.  The  allowance  for credit losses was $1.6
million or 0.99% of loans  receivable  at June 30,  2000 as  compared  with $1.5
million or 1.16% of loans  receivable  at June 30, 1999.  Although the allowance
for loan  losses  has  decreased,  non-performing  assets  have  also  decreased
representing 0.07% of total assets at June 30, 2000 compared with 0.32% of total
assets at June 30, 1999.  Management  continues  to monitor  changes in the loan
portfolio  mix in  response to the  redirection  of loan asset  origination  and
retention toward consumer and commercial  business loans. The method utilized to
evaluate adequacy of the allowance level accounts for the higher relative degree
of credit  risk  associated  with this  activity as  compared  with  traditional
residential real estate lending.

               OTHER INCOME.  Other operating  income  decreased by $381,000 for
the three month  period  ending June 30, 2000  compared  with the same period in
1999 to $102,000 from  $483,000.  This was primarily due to the  recognition  of
gains and losses upon the sale of certain  investment  securities during the two
periods.  Losses of  $149,000  were  recognized  during the 2000 period as lower
yielding  securities were sold and reinvested at higher current rates of return.
During the 1999 period, security gains of $280,000 were recognized. Other income
adjusted to eliminate  investment  gains and losses increased to $251,000 during
the quarter  ended June 30, 2000  compared  with  $203,000 for the quarter ended
June 30, 1999

               OTHER EXPENSES. Operating and other expenses decreased by $54,000
or 2.9%,  to $1.8  million  for the three  months  ended June 30, 2000 from $1.9
million for the same period in 1999.  The  decrease is  primarily  the result of
$84,000 in expenses recognized for the establishment of a real estate subsidiary
during the 1999 period.  Other operating expenses increased $241,000 for the six
months  ended  June 30,  2000 as  compared  with the same  period  of 1999.  The
increase  was  primarily  due to an increase of  $246,000  in  compensation  and
benefits expense due in part to the timing of recording  certain payroll related
expenses  and the  opening in  November  1999 of the Bank's  sixth  full-service
banking office located in Canastota, New York.

               INCOME TAX.  Income tax expense was $236,000 for the three months
ended  June 30,  2000,  a  decrease  of $34,000  from the  second  quarter  1999
provision of $270,000.  The  effective  tax rate  decreased to 28.6% for 2000 to
date from 35.2% for the six months of 1999 as the Company has  employed  various
strategies to reduce the tax burden in this and future periods.



ONEIDA FINANCIAL CORP.
SELECTED FINANCIAL RATIOS
At and for the Three Months Ended and Six Months Ended June 30, 2000 and June
30, 1999(unaudited)

(annualized where appropriate)
<TABLE>
<CAPTION>

                                                            Three Months Ending               Six Months Ending
                                                                  June 30,                         June 30,
                                                           2000            1999             2000            1999
                                                           -----          -----             ----            ----
<S>                                                        <C>             <C>               <C>             <C>
Performance Ratios:

 Return on average assets                                  0.81%           0.92%             0.83%           1.01%
 Return on average equity                                  6.27%           5.62%             6.22%           5.55%
 Net interest margin
                                                           3.64%           3.61%             3.63%           3.80%
 Efficiency Ratio                                         62.36%          59.75%            64.38%          66.90%

 Ratio of operating expense
      to average total assets                              2.37%           2.80%             2.45%           2.69%
 Ratio of average interest-earning assets
 to average interest-bearing liabilities                 121.57%         124.88%           122.02%         126.41%

 Asset Quality Ratios:

     Non-performing assets to total assets                 0.07%           0.33%             0.07%           0.33%

   Allowance for loan losses
    to non-performing loans                            1,382.61%         249.04%         1,382.61%         249.04%
   Allowance for loan losses
    to loans receivable, net                               0.99%           1.16%             0.99%           1.16%

        Capital Ratios:

 Total shareholders' equity to total assets               13.27%          15.67%            13.27%          15.67%
Average  equity to average assets                         12.99%          16.37%            12.99%          16.37%
</TABLE>


                                       12
<PAGE>


ITEM 3.        Quantitative and Qualitative Disclosure About Market Risk



               Various  forms of market risk are inherent in the business of the
Bank  including  concentration  risk,  liquidity  management,  credit  risk  and
collateral  risk among  others.  However,  the Bank's most  significant  form of
market  risk is interest  rate risk,  as the  majority of the Bank's  assets and
liabilities are sensitive to changes in interest rates.  Ongoing  monitoring and
management  of this risk is an important  component of the  Company's  asset and
liability  management process.  The Bank's interest rate risk management program
focuses  primarily on  evaluating  and managing  the  composition  of the Bank's
assets  and  liabilities  in the  context of various  interest  rate  scenarios.
Factors  beyond  Management's   control,  such  as  market  interest  rates  and
competition,  also have an impact on interest income and interest expense. For a
discussion of the Company's asset and liability  management  policies as well as
the potential  impact of interest rate changes upon the earnings of the Company,
see "Management's  Discussion and Analysis of Financial Condition and Results of
Operations" in the Company's 1999 Annual Report to Stockholders.  There has been
no material change in the Company's risk profile since December 31, 1999.


                                       13

<PAGE>
                             ONEIDA FINANCIAL CORP.
                                AND SUBSIDIARIES

Part II - Other Information

Item 1 Legal Proceedings

               The  Company  and  its   subsidiary   are  not  involved  in  any
litigation, nor is the Company aware of any pending litigation, other than legal
proceedings incident to the business of the Company, such as foreclosure actions
filed on behalf  of the  Company.  The  Oneida  Indian  Nation  (the  "Oneidas")
continues  to pursue  their land claim over  270,000  acres on Central  New York
State  which  includes  much of the Bank's  market  area.  To date  neither  the
original  claim nor the  amended  motion has had an adverse  impact on the local
economy or real property values. Both the State of New York and the Oneidas have
indicated in their respective communications that individual landowners will not
be  adversely  affected by the ongoing  litigation.  Neither the Company nor the
Bank is a named defendant in the pending motion. Management, therefore, believes
the results of any current  litigation  would be immaterial to the  consolidated
financial condition or results of operation of the Company.

Item 2                       Changes in Securities

                             None

Item 3                       Default Upon Senior Securities

                             Not applicable.

Item 4                       Submission of Matters to a Vote of Security Holders

                             At the  Annual  Meeting  of  Shareholders,  held on
April 25, 2000, shareholders voted on the following matters as follows;

Proposal  No.1 - Election of Directors;
                                                 For                 Withheld
                                                 ---                 --------
                   Nicholas J. Christakos     3,006,300               8,100
                   Patricia D. Caprio         3,004,550               9,850
                   Frank O. White, Jr.        2,989,084               25,316

Proposal No.2 - Oneida Financial Corp. 2000 Stock Option Plan:

                      For                     Against               Abstain
                      ---                     -------               -------
                   2,766,967                  20,850                 5,403

Proposal No.3 - Oneida Financial Corp. 2000 Recognition and Retention Plan:

                      For                     Against               Abstain
                      ---                     -------               -------
                   2,761,992                  25,750                 5,478

Proposal No.4 - Ratification of PricewaterhouseCoopers,  LLP as auditors for the
                Company for the fiscal year ended December 31, 2000;

                     For                      Against               Abstain
                     ---                      -------               -------
                   3,008,522                   3,300                 2,578

Item 5                    Other Information

                          None

Item 6                    Exhibits and Reports on Form 8-K

                          (a)    All required  exhibits are included in Part
                                 I  under  Consolidated   Financial  Statements,
                                 Notes  to  Unaudited   Consolidated   Financial
                                 Statements  and  Management's   Discussion  and
                                 Analysis of Financial  Condition and Results of
                                 Operations,  and are incorporated by reference,
                                 herein.

                          (b)    Exhibits

                                 (27)   Financial Data Schedule



                                       14

<PAGE>

                                   SIGNATURES

               Pursuant to the  requirements  of the Securities  Exchange Act of
1934, the Registrant has duly caused this report to be signed by the undersigned
thereunto duly authorized.

                                      ONEIDA FINANCIAL CORP.


Date:    August 9, 2000               By:  /s/ Michael R. Kallet
                                           -------------------------------------
                                           Michael R. Kallet
                                           President and Chief Executive Officer


Date:    August 9, 2000               By:  /s/  Eric E. Stickels
                                           -------------------------------------
                                           Eric E. Stickels
                                           Senior Vice President and Chief
                                           Financial Officer




                                       15