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 September 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 3,140,502 shares
of the Registrant's common stock outstanding as of November 1, 2000.


<PAGE>


                             ONEIDA FINANCIAL CORP.
                                      INDEX

                                                                            Page

PART I.  FINANCIAL INFORMATION

    Item 1.  Financial Statements                                            1

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

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

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

         Consolidated Statements of Cash Flows (unaudited)                   5
         For the three months ended and nine months ended September 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      15

PART II. OTHER INFORMATION                                                   16


<PAGE>



PART I.  FINANCIAL INFORMATION

     Item I.    Financial Statements

ONEIDA FINANCIAL CORP. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CONDITION
At September 30, 2000 and December 31, 1999

<TABLE>
<CAPTION>
                                                          (unaudited)         (audited)
                                                               At                At
                                                          September 30,      December 31,
                                                              2000              1999
                                                              ----              ----
ASSETS                                                            (in thousands)
<S>                                                       <C>                 <C>
         Cash and due from banks                          $   6,494           $   8,815
         Federal funds sold                                     200                   0
                                                          ---------           ---------
  TOTAL CASH AND CASH EQUIVALENTS                             6,694               8,815

         Investment securities, at fair value                88,346              85,543
         Mortgage-backed securities, at fair value           37,999              26,355
                                                          ---------           ---------
   TOTAL INVESTMENT SECURITIES                              126,345             111,898

         Mortgage loans held for sale                         2,223                 341
         Loans receivable                                   165,218             150,328
         Allowance for credit losses                         (1,631)             (1,523)
                                                          ---------           ---------
   LOANS RECEIVABLE, NET                                    163,587             148,805

         Bank premises and equipment, net                     6,136               5,301
         Accrued interest receivable                          2,401               1,766
         Other real estate                                        0                  94
         Other assets                                         2,876               3,192
                                                          ---------           ---------
         TOTAL ASSETS                                     $ 310,262           $ 280,212
                                                          =========           =========
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
         Due to Depositors                                $ 196,612           $ 188,271
         Mortgagors' escrow funds                               515                 849
         Borrowings                                          72,100              50,200
         Other Liabilities                                    1,152                 941
                                                          ---------           ---------
TOTAL LIABILITIES                                           270,379             240,261
Shareholders' equity:
         Common stock ( $.10 par value; 8,000,000
              shares authorized;  3,663,438 and
              3,580,200 shares issued respectively)             366                 358
         Additional paid-in capital                          16,289              15,413
         Retained earnings                                   30,430              29,682
         Common shares issued under employee
               stock plans - unearned                        (1,167)             (1,167)
         Accumulated other comprehensive income (loss)       (1,772)             (2,584)
         Treasury stock (at cost, 323,149
                                    and 167,100 shares)      (3,444)             (1,751)
         Unearned stock compensation                           (819)                  0
                                                          ---------           ---------
   TOTAL SHAREHOLDERS' EQUITY                                39,883              39,951
                                                          ---------           ---------
         TOTAL LIABILITIES AND
         SHAREHOLDERS' EQUITY                             $ 310,262           $ 280,212
                                                          =========           =========
</TABLE>

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

                                  Page 2 of 16
<PAGE>

ONEIDA FINANCIAL CORP. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS

For the Three Months Ended and Nine Months Ended September 30, 2000  (unaudited)
and 1999 (unaudited )

<TABLE>
<CAPTION>

                                                           Three Months Ended     Nine Months Ended
                                                              September 30,         September 30,
                                                            2000        1999      2000        1999
                                                            ----        ----      ----        ----
                                                       ( in thousands, except Earnings Per Share Data )

INTEREST INCOME:
<S>                                                        <C>        <C>       <C>        <C>
         Interest and fees on loans                        $ 3,619    $ 2,872   $10,161    $ 8,312
         Interest on investment and mortgage-
                  backed securities                          1,870      1,846     5,207      5,007
         Dividends on equity securities                        255         37       875         92
         Interest on federal fund sold and
              interest-bearing deposits                          6         66        32        269
   Total interest and dividend income                        5,750      4,821    16,275     13,680
                                                             -----      -----    ------     ------
INTEREST EXPENSE:
         Savings deposit                                       281        277       832        822
         Money market and Super NOW                            179        175       522        464
         Time deposits                                       1,476      1,361     4,204      4,141
         Borrowings                                          1,093        507     2,854      1,110
                                                             -----      -----    ------     ------
                  Total interest expense                     3,029      2,320     8,412      6,537
                                                             -----      -----    ------     ------
NET INTEREST INCOME                                          2,721      2,501     7,863      7,143
         Less: Provision for credit losses                      85         45       235        135
                                                             -----      -----    ------     ------
   Net interest income after provision for credit losses     2,636      2,456     7,628      7,008
                                                             -----      -----    ------     ------
OTHER INCOME:
         Investment security gain(loss), net                   (54)         0      (203)       281
         Other operating income                                269        205       778        641
                                                             -----      -----    ------     ------
   Total other income                                          215        205       575        922
                                                             -----      -----    ------     ------
OTHER EXPENSES:
         Compensation and employee benefits                  1,135      1,017     3,290      2,926
         Occupancy expenses, net                               359        338     1,071        990
         Other operating expense                               413        390     1,183      1,226
   Total other expenses                                      1,907      1,745     5,544      5,142
                                                             -----      -----    ------     ------
INCOME BEFORE INCOME TAXES                                     944        916     2,659      2,788
                                                             -----      -----    ------     ------
   Provision for income taxes                                  305        340       796        999
                                                             -----      -----    ------     ------
NET INCOME                                                 $   639    $   576   $ 1,863    $ 1,789
                                                           =======    =======   =======    =======

EARNINGS PER SHARE - BASIC and DILUTED                     $  0.20    $  0.16   $  0.58    $  0.50
                                                           =======    =======   =======    =======
</TABLE>


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

                                  Page 3 of 16


<PAGE>


ONEIDA FINANCIAL CORP. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

For the Three Months Ended and Nine Months Ended September 30, 2000  (unaudited)
and 1999 (unaudited)

<TABLE>
<CAPTION>
                                                                    Three Months Ended    Nine Months Ended
                                                                      September 30,         September 30,
                                                                     2000        1999      2000       1999
                                                                     ----        ----      ----       ----
                                                                                 (in thousands)
<S>                                                                 <C>        <C>        <C>        <C>
      Net income                                                    $   639    $   576    $ 1,863    $ 1,789
                                                                    -------    -------    -------    -------
         Other comprehensive income, net of tax:
           Unrealized gains(losses) on assets available for sale:
         Unrealized holding gains (losses)
             arising during period                                      694     (1,637)     1,150     (4,249)
         Less: reclassification adjustment for
                   losses (gains) included in net income                 54         (0)       203       (281)
                                                                    -------    -------    -------    -------
                                                                        748     (1,637)     1,353     (4,530)
         Net income tax benefit effect                                 (299)       655       (541)     1,812
                                                                    -------    -------    -------    -------
Other comprehensive income(loss), net of tax                            449       (928)       812     (2,718)

      Comprehensive Income                                          $ 1,088    $  (406)   $ 2,675    $  (929)
                                                                    =======    =======    =======    =======
</TABLE>


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

                                  Page 4 of 16


<PAGE>



ONEIDA FINANCIAL CORP. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF CASH FLOWS
For the Three Months Ended and Nine Months Ended September 30, 2000  (unaudited)
and 1999 (unaudited )

<TABLE>
<CAPTION>
                                                               Three Months Ended         Nine Months Ended
                                                                    Sept 30,                   Sept 30,
                                                                2000        1999          2000        1999
                                                                ----        ----          ----        ----
                                                                 (in thousands)            (in thousands)

Operating Activities:
<S>                                                           <C>         <C>            <C>         <C>
   Net income                                                 $    639    $    576       1,863       1,789
   Adjustments  to  reconcile  net  income  to net
    cash  provided  by  operating  activities:
      Stock based compensation earned                               39           0          65           0
      Depreciation                                                 175         178         515         505
      Amortization of premiums/discounts on securities, net        (34)        (10)        (62)        (32)
      Provision for credit losses                                   85          45         235         135
      Loss on sale of other real estate                              0           0           7          26
      Loss (Gain) on sale/call of securities, net                   54           0         203        (281)
      (Gain) Loss on sale of loans, net                             (8)          0         (16)        (22)
      Income tax payable                                           100         340        (390)        267
      Accrued interest receivable                                 (515)       (223)       (635)       (519)
      Other assets                                                 (15)        147        (226)         78
      Other liabilities                                            422        (148)        601         (48)
      Origination of loans held for sale                        (3,030)          0      (5,536)     (3,984)
      Proceeds from sales of loans                               2,096           0       3,671       5,678
                                                              --------    --------       -----       -----
          Net cash provided by operating activities                  8         905         295       2,698
                                                              --------    --------       -----       -----
 Investing Activities:
  Purchase of investment securities                             (5,385)    (10,225)    (14,198)    (68,488)
  Principal collected on and proceeds of maturities
      or calls from investments                                  4,976      12,942      11,885      37,967
  Purchase of mortgage-backed securities                        (5,123)          0     (15,555)     (8,212)
  Principal collected on and proceeds from
        Sale of mortgage-backed securities                       3,010       1,663       4,633       4,064
  Net increase in loans                                         (5,000)     (7,039)    (15,089)    (10,913)
  Purchase of bank premises and equipment                         (785)       (235)     (1,350)       (869)
  Proceeds from sale of other real estate                           91         137         159         271
                                                              --------    --------     -------     -------
          Net cash used in investing activities                 (8,156)     (2,757)    (29,515)    (46,180)
                                                              --------    --------     -------     -------
Financing Activities:
  Net increase in demand deposit, savings,
      money market, super now and escrow                         1,735         747       5,972       2,514
  Net increase (decrease) in time deposits                         330      (1,603)      2,035      (3,913)
  Proceeds from  borrowings                                     12,600       5,000      42,100      35,000
  Repayment of borrowings                                       (4,800)          0     (20,200)     (5,000)
  Cash dividends                                                  (569)       (537)     (1,115)       (537)
  Purchase of treasury stock                                      (440)     (1,130)     (1,693)     (1,130)
  Adjust net proceeds                                                0           0           0        (123)
  Common stock acquired by ESOP                                      0           0           0        (913)
                                                              --------    --------     -------     -------
          Net cash provided by financing activities              8,856       2,477      27,099      25,898
                                                              --------    --------     -------     -------
Increase (Decrease) in cash and cash equivalents                   708         623      (2,121)    (16,690)
                                                              --------    --------     -------     -------
Cash and cash equivalents at beginning of years                  5,986       8,843       8,815      26,156
                                                              --------    --------     -------     -------
Cash and cash equivalents at end of year                         6,694       9,466       6,694       9,466
                                                              ========    ========     =======     =======
Supplemental disclosures of cash flow information:
Cash paid for interest                                           2,908       2,264       8,251       6,282
Cash paid for income taxes                                         180           0         682         678
Non-cash investing activities:
Unrealized gain (loss) on investment and mortgage-backed
     securities designated as available for sale                   747      (1,637)      1,353      (4,530)
Transfer of loans to other real estate                               0          65          72         266
                                                              ========    ========     =======     ========
</TABLE>


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

                                  Page 5 of 16


<PAGE>

                             Oneida Financial Corp.
                   Notes to Consolidated Financial Statements
                                   (Unaudited)

                               September 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 September  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 nine-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 nine months ended September 30, 2000 and 1999:

<TABLE>
<CAPTION>
                                            Income            Shares           Per Share
                                            ------            ------           ---------
<S>                                         <C>               <C>              <C>
For the Three Months Ended
September 30, 2000:

Net income (Three Months Ended)             $638,594
                                            ========

Basic Earnings Per Share:                   $638,594          3,161,198          $0.20
                                                                                 =====
Effect of diluted securities:
         Stock options and awards                  0              2,847
                                            -----------------------------------------------
Diluted Earnings Per Share                  $638,594          3,164,045          $0.20
                                                                                 =====
<CAPTION>

For the Nine Months Ended
September 30, 2000:
<S>                                         <C>               <C>              <C>
Net income (Nine Months Ended)              $1,862,875
                                            ==========

Basic Earnings Per Share:                   $1,862,875        3,219,724          $0.58
                                                                                 =====
Effect of diluted securities:
         Stock options and awards                    0            1,776
                                            ----------------------------------------------
Diluted Earnings Per Share                  $1,862,875        3,221,500          $0.58
                                                                                 =====

<CAPTION>

For the Three Months Ended
September 30,1999:
<S>                                         <C>               <C>              <C>
Net income (Three Months Ended)             $576,215
                                            ========

Basic and Diluted Earnings Per Share        $576,215          3,524,747          $0.16
                                                              =========          =====

<CAPTION>

For the Nine Months Ended
September 30,1999:
<S>                                         <C>               <C>              <C>
Net income (Nine Months Ended)              $1,788,881
                                            ==========

Basic and Diluted Earnings Per Share        $1,788,881        3,561,512          $0.50
                                                              =========          =====
</TABLE>


                                  Page 6 of 16
<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 September 30,
2000, the principal balance outstanding of real estate loans in the REIT totaled
$40.4 million.

Note D - Acquisition of Insurance Agency

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  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  execution  of a
definitive purchase agreement and closing of the acquisition was held on October
2, 2000.  Necessary  regulatory  approval had been previously received from both
the New York  State  Banking  Department  and the  State  of New York  Insurance
Department. The acquired agency was incorporated as Bailey & Haskell Associates,
Inc. as a wholly-owned subsidiary of The Oneida Savings Bank.

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 of unearned
compensation  expense to be accrued  over the five year  vesting  period.  As of
September 30, 2000, $65,000 has been expensed to date. The Stock Option plan has
awarded  150,500 shares of that  authorized.  All options  granted have ten year
terms and vest and become fully exercisable  evenly over a five year period. The
exercise price for each option share is the fair market value at the date of the
grant, which was $10.625 on April 25, 2000.


                                  Page 7 of 16

<PAGE>

ITEM 2. Management's  Discussion and Analysis of Financial Condition and Results
        Of Operations

                     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

         Oneida  Financial  Corp.  (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  has elected  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
September 30, 2000 the principal balance outstanding of real estate loans in the
REIT totaled $40.4 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 September 30, 2000 the
Bank had total  borrowings  of $72.1  million at an average  cost of 6.41%.  The
Bank's net income is enhanced  through the positive spread between the borrowing
rate and investment returns.

         On  February  2,  2000  the  Company  commenced  its  second  5%  stock
repurchase program,  representing  170,000 shares of the Company's common stock.
Through  September 30, 2000 at total of 144,139  shares were  repurchased  at an
average  price of  $10.861.  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.

         The Company  paid its third  consecutive  semiannual  cash  dividend on
August 8, 2000. The dividend was paid to all  shareholders  of record as of July
25, 2000 for the six-month  period ended June 30, 2000. The dividend


                                  Page 8 of 16
<PAGE>

was paid at the rate of $0.17 per share of common stock,  the third  consecutive
increase in the dividend rate by the Company.

         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  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  execution  of a
definitive purchase agreement and closing of the acquisition was held on October
2, 2000.  Necessary  regulatory  approval had been previously received from both
the New York  State  Banking  Department  and the  State  of New York  Insurance
Department. The acquired agency was incorporated as Bailey & Haskell Associates,
Inc. as a wholly-owned subsidiary of The Oneida Savings Bank.

         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 of unearned
compensation  expense to be accrued  over the five year  vesting  period.  As of
September 30, 2000, $65,000 has been expensed to date. The Stock Option plan has
awarded  150,500 shares of that  authorized.  All options  granted have ten year
terms and vest and become fully exercisable  evenly over a five year period. The
exercise price for each option share is the fair market value at the date of the
grant, which was $10.625 on April 25, 2000.

FINANCIAL CONDITION

         ASSETS.  Total Assets at  September  30, 2000 were $310.3  million,  an
increase of $30.1 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 $14.4 million as
a result of the Bank's continuing leveraging  strategies.  Asset growth was also
supported  by an increase  of $16.7  million,  or 11%, 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 September 30, 2000,  total consumer and commercial
business loans  increased by $10.5 million from December 31, 1999. The Bank also
increased its  residential  real estate loans by $3.2 million as a result of the
increased  demand  for  adjustable  rate  loan  products  in  the  current  rate
environment.

         LIABILITIES.  Total liabilities  increased by $30.1 million or 12.5% to
$270.4  million at September 30, 2000 from $240.3  million at December 31, 1999.
The  increase  is  primarily  the  result of an  increase  of $21.9  million  in
borrowings  as well as an  increase  of $8.0  million  in  total  deposits.  The
majority of the  increase,  $5.6  million,  was derived from  increases in Money
Market,   Super-NOW  and  Checking  accounts,   which  are  lower  yielding  and
non-interest  bearing  deposit  products.  In addition,  Certificate  of Deposit
accounts  increased  $2.0 million  since  December 31, 1999.  The Bank's  newest
branch addition in Canastota, New York, which opened in November 1999, has total
deposits of $4.9 million as of September 30, 2000,  with $4.0 million in net new
deposit account growth achieved during the nine month period ended September 30,
2000.

         STOCKHOLDERS'  EQUITY. Total stockholders' equity at September 30, 2000
was $39.9  million,  a decrease of $68,000  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  156,049  additional
shares of its common  stock,  at an average  price of $10.847  per share,  since
December 31, 1999  resulting  in an increase of $1.7  million in Treasury  stock
held.  The current stock  repurchase  program  authorizes  an additional  25,861
shares for purchase by the Company.  The Company also paid its third  semiannual
dividend at the rate of $0.17  resulting  in an equity  reduction  of  $569,000.
Total  dividends  paid during 2000 were $1.1 million.  The Company also recorded
unearned stock-based  compensation as a reduction in stockholders' equity during
the year,  $819,000 remains  unamortized at September 30, 2000. 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 a result of the addition of  $1,863,000  in after-tax net
income  for  the  nine  months  ended  September   30,2000.   Accumulated  Other
Comprehensive  Income (Loss) increased $812,000 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 September 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.


                                  Page 9 of 16
<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  nine  months  ended
September  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 September 30,              Twelve Months Ended Dec. 31,
                                 --------------------------------------------------------- ----------------------------
                                               2000                         1999                         1999
                                  Average    Interest           Average   Interest           Average   Interest
                                 Outstanding Earned/   Yield/ Outstanding  Earned/  Yield/ Outstanding  Earned/  Yield/
                                  Balance      Paid     Rate    Balance     Paid     Rate    Balance     Paid     Rate
                                  -------      ----     ----    -------     ----     ----    -------     ----     ----
Interest-earning Assets:                                         (Dollars in  Thousands)
------------------------
<S>                                <C>          <C>     <C>      <C>         <C>     <C>      <C>        <C>       <C>
  Loans Receivable                 $165,326     $3,619  8.76%    $138,673    $2,872  8.28%    $136,765   $11,358   8.30%
  Investment Securities             124,711      2,068  6.63%     115,340     1,846  6.40%     104,294     6,757   6.48%
  Federal Funds                         292          6  8.22%       4,808        66  5.49%       6,565       323   4.92%
  Equity Securities                   6,123         57  3.72%       3,811        37  3.88%       3,709       144   3.88%
                                      -----        ---  -----      ------       ---  -----      ------      ----   -----
    Total Interest-earning          296,452     5,750   7.76%     262,632     4,821  7.34%     251,333    18,582   7.39%
                                   --------     ------  -----    --------    ------  -----    --------   -------   -----
Assets

Interest-bearing Liabilities:
-----------------------------
  Money Market Deposits             $16,988       $142  3.34%     $16,375      $137  3.35%     $14,985      $491   3.28%
  Savings Accounts                   46,922        281  2.40%      45,873       277  2.42%      45,824     1,094   2.39%
  Interest-bearing Checking           8,167         37  1.81%       8,328        38  1.83%       7,890       143   1.81%
  Time Deposits                     102,934      1,476  5.74%     102,568     1,361  5.31%     103,018     5,488   5.33%

Borrowings                           70,367      1,093   6.21%     37,365       507   5.43%     32,841     1,769   5.39%
                                   --------     ------  -----    --------    ------  -----    --------    ------   -----
    Total Interest-bearing liabs    245,378      3,029   4.94%    210,509     2,320   4.41%    204,558     8,985   4.39%
                                   --------     ------  -----    --------    ------  -----    --------    ------   -----
    Net Interest Income                         $2,721                       $2,501                       $9,597
                                                ======                       ======                       =====
    Net Interest Spread                                 2.82%                        2.93%                         3.00%
                                                        =====                        =====                         =====
    Net Earning Assets              $51,074                       $52,123                      $46,775
                                   ========                      ========                     =======
   Net yield on average
      Interest-earning assets                    3.67%                        3.81%                        3.82%
                                                 =====                        =====                        =====
    Average interest-earning
      Assets to average

      Interest-bearing liabs                   120.81%                      124.76%                      122.87%
                                               =======                      =======                      =======
</TABLE>

                                 Page 10 of 16
<PAGE>

<TABLE>
<CAPTION>

                                                Nine Months Ended June 30,
                                -----------------------------------------------------------
                                               2000                         1999
                                  Average    Interest           Average   Interest
                                 Outstanding Earned/   Yield/ Outstanding  Earned/  Yield/
                                  Balance      Paid     Rate    Balance     Paid     Rate
                                  -------      ----     ----    -------     ----     ----
                                                   (Dollars  in Thousands)

Interest-earning Assets:
------------------------
<S>                                <C>         <C>      <C>      <C>         <C>     <C>
  Loans Receivable                 $159,989    $10,161  8.47%    $134,037    $8,312  8.27%
  Investment Securities             121,038      5,922  6.52%     105,585     5,007  6.32%
  Federal Funds                       1,014         32  4.21%       7,381       269  4.86%
  Equity Securities                   5,545       161   3.87%      3,492        92   3.51%
                                      -----    -------  -----    --------   -------  -----
    Total Interest-earning         287,586     16,276   7.55%    250,495    13,680   7.28%
                                   --------    -------  -----    --------   -------  -----
Assets

Interest-bearing Liabilities:
-----------------------------
  Money Market Deposits             $16,519       $410  3.31%     $14,685      $358  3.25%
  Savings Accounts                   46,442        832  2.39%      46,716       822  2.35%
  Interest-bearing Checking           8,355        112  1.79%       7,778       106  1.82%
  Time Deposits                     102,026      4,204  5.49%     102,136     4,141  5.41%
Borrowings                           63,159      2,854  6.03%      27,765     1,110  5.33%
                                    -------     ------  -----     -------    ------  -----
    Total Interest-bearing liabs    236,501      8,412   4.74%    199,080     6,537  4.38%
                                    -------     ------  -----     -------    ------  -----
    Net Interest Income                         $7,864                       $7,143
                                                ======                       ======
    Net Interest Spread                                 2.80%                        2.90%
                                                        =====                        =====
    Net Earning Assets             $51,085                       $51,415
                                   ========                      =======
   Net yield on average
      Interest-earning assets                    3.65%                        3.80%
                                                 =====                        =====
    Average interest-earning
      assets to average

      Interest-bearing liabs                   121.60%                      125.83%
                                               =======                      =======
</TABLE>

RESULTS OF OPERATIONS

         GENERAL.  Net income for the three  months  ended  September  30,  2000
increased  $63,000 to $639,000 for the third  quarter 2000 from $576,000 for the
three months  ended  September  30,  1999.  Net income for the nine months ended
September 30, 2000 was $1.9 million, an increase of $74,000 as compared with the
net income for the nine months ended  September 30, 1999. The increases were due
primarily to an increase in net interest  income and a decrease in the provision
for income taxes. The increases in income were partially offset by a decrease in
other  income  and  increases  in the  provision  for  credit  losses  and other
expenses.

         INTEREST INCOME.  Interest Income  increased by $929,000,  or 19.3%, to
$5.8 million for the three months ended  September  30, 2000,  from $4.8 million
for three months ended  September 30, 1999. For the nine months ended  September
30, 2000 total interest income was $16.3 million, an increase of $2.6 million or
19.0% 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 $747,000
for the  third  quarter  of 2000 and  $1.8  million  for the  year to  date.  In
addition, income on investment and mortgage-backed  securities increased $24,000
and  $200,000  for  the  three  and  nine  months  ended   September  30,  2000,
respectively.  Dividend income on equity securities  increased  $218,000 for the
quarter and $783,000 year to date 2000, as compared with the same periods during
1999. Interest on federal funds decreased $60,000 for the third quarter 2000 and
$237,000 year to date partially offsetting the increases in interest income.

         The increase in loan income is a result of an increase of $26.7 million
in the average balance of loans  receivable for the three months ended September
30,  2000 as  compared  with the same  period in 1999.  An  increase of 48 basis
points in average  yield  earned,  from 8.28% at September  30, 1999 to 8.76% at
September  30,  2000,   also   contributed  to  the  increase  in  loan  income.
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 $10.5 million during the first three quarters in 2000.
In addition,  the Bank increased its residential  real estate  portfolio by $3.2
year to date as a result  of the  increased  demand  for  adjustable  rate  loan
products in the current rate environment.

         Investment  income  increased as a result of a $9.4 million increase in
the average balance of investment and  mortgage-backed  securities for the three
month period ended  September 30, 2000 as compared with the same period in 1999.
The increase in investment income was also the result of an increase of 23 basis
points in the average  yield of  investment  securities  to an average  yield of
6.63% for the three months ended  September 30, 2000.  For the nine months ended
September  30,  2000  and  1999,   the  average   balance  of   investment   and
mortgage-backed  securities  increased $15.5 million.  In addition,  the average
yield  increased 20 basis points for the nine months ended September 30, 2000 as
compared with the same period in 1999.

         Income  on  federal  funds  decreased  during  the three  months  ended
September 30, 2000 to $6,000 as compared  with $66,000 for the 1999 period.  The
decrease in income is due to a decrease of $4.5  million in the average  balance
of federal  funds..  The  decrease in 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 the 2000 quarter
which has employed excess cash.

                                 Page 11 of 16
<PAGE>

         INTEREST  EXPENSE.  Interest  expense  was $3.0  million  for the three
months ended  September 30, 2000; an increase of $709,000 or 30.6% from the same
period in 1999.  The increase in interest  expense is primarily  due to interest
paid on borrowed funds. The average balance outstanding in borrowings during the
three  months  ended  September  30,  2000 was $70.4  million  compared to $37.4
million for the same period in 1999. Borrowed funds resulted in interest expense
of $1.1 million for the third quarter of 2000 compared with $507,000 of interest
expense on borrowed funds for the 1999 period.  Year to date interest expense on
borrowed  funds has  increased  $1.7 million to $2.9 million for the nine months
ended September 30, 2000 as compared with the same period during 1999.  Interest
expense on deposits  increased by $123,000 for the three months ended  September
30, 2000 to $1.9 million,  an increase of 6.8%. The increase in interest expense
on  deposits  was due to a 38 basis point  increase in the average  rate paid on
deposits for the third  quarter  2000 and an increase in the average  balance on
deposit  accounts of $1.9 million.  The average balance of deposits for the nine
months ended  September 30, 2000  increased $2.0 million over the same period of
1999 as well as an  increase  in the  average  yield of 15 basis  points in 2000
resulting in the increase in interest expense.

         PROVISION FOR CREDIT LOSSES. Total provisions for credit losses for the
three months ended  September  30, 2000 were $85,000 as compared to $45,000 made
during the same period of 1999. The allowance for credit losses was $1.6 million
or 0.98% of loans receivable at September 30, 2000 as compared with $1.5 million
or 1.08% of loans  receivable at September 30, 1999.  Although the allowance for
loan losses as a percentage of loans  receivable has  decreased,  non-performing
assets have also decreased  representing  0.09% of total assets at September 30,
2000  compared  with 0.30% of total  assets at September  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 increased by $10,000 for the three
month period ending  September 30, 2000 compared with the same period in 1999 to
$215,000  from  $205,000.  Losses of $54,000  were  recognized  during the third
quarter 2000 period as lower  yielding  securities  were sold and  reinvested at
higher  current  rates of return.  Non-interest  income  adjusted  to  eliminate
investment  gains and losses  increased  to $269,000  during the  quarter  ended
September 30, 2000  compared  with $205,000 for the quarter ended  September 30,
1999.  This  increase in other income is primarily  the result of an increase in
mortgage  service fees such as application  fees and an increase in fees charged
on deposit accounts such as NSF and ATM fees.

         OTHER EXPENSES.  Operating and other expenses  increased by $162,000 or
9.3%,  to $1.9 million for the three months ended  September  30, 2000 from $1.7
million  for the same  period in 1999.  The  increase  was  primarily  due to an
increase of $118,000 in compensation  and benefits expense due to the opening in
November  1999 of the  Bank's  sixth  full-service  banking  office  located  in
Canastota, New York as well as increases in other areas.

         INCOME TAX.  Income tax expense was $305,000 for the three months ended
September 30, 2000, a decrease of $35,000 from the third quarter 1999  provision
of $340,000.  The  effective  tax rate  decreased to 29.9% for 2000 to date from
35.8% for the nine months of 1999 as the Company has employed various strategies
to reduce the tax burden in this and future periods.

                                  Page 12 of 16


<PAGE>


ONEIDA FINANCIAL CORP.
SELECTED FINANCIAL RATIOS

At and for the Three Months Ended and Nine Months Ended  September  30, 2000 and
September 30, 1999(unaudited)

(annualized where appropriate)

<TABLE>
<CAPTION>
                                           Three Months Ending   Nine Months Ending
                                              September 30,        September 30,
                                             2000       1999      2000       1999
                                             ----       ----      ----       ----

Performance Ratios:
<S>                                       <C>       <C>       <C>       <C>
   Return on average assets                   0.82%     0.84%     0.82%     0.92%
   Return on average equity                   6.46%     5.50%     6.30%     5.55%
   Net interest margin                        3.67%     3.81%     3.65%     3.80%
   Efficiency Ratio                          63.78%    64.49%    64.16%    66.06%
   Ratio of operating expense
     to average total assets                  2.45%     2.54%     2.45%     2.64%
   Ratio of average interest-earning
     assets to average interest-bearing
     liabilities                            120.81%   124.76%   121.60%   125.83%

Asset Quality Ratios:

   Non-performing assets to total assets      0.09%     0.30%     0.09%     0.30%
   Allowance for loan losses to
    non-performing loans                    595.26%   243.43%   595.26%   243.43%
   Allowance  for loan losses to
    loans receivable, net                     0.98%     1.08%     0.98%     1.08%

Capital Ratios:

   Total shareholders' equity to total
     assets                                  12.85%    14.80%    12.85%    14.80%
   Average equity to average assets          13.08%    15.23%    13.08%    15.23%
</TABLE>


                                  Page 13 of 16


<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  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.

                                  Page 14 of 16

<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

         None

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


                                  Page 15 of 16

<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:    November 5,2000        By:      /s/ Michael R. Kallet
                                         --------------------------------------
                                         Michael R. Kallet
                                         President and Chief Executive Officer




Date:    November 5, 2000       By:      /s/  Eric E. Stickels
                                         --------------------------------------
                                         Eric E. Stickels
                                         Senior Vice President and Chief
                                         Financial Officer

                                 Page 16 of 16