Exhibit 99


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                                  NEWS RELEASE
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Release Date:     Tuesday, September 12, 2006

Release Time:     4:02 p.m.

Contact:          Eric E. Stickels, Executive Vice President & CFO

Phone:            (315) 366-3702

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    Oneida Savings Bank to Acquire The National Bank of Vernon

         Oneida, NY, September 12, 2006 - Oneida Financial Corp. (NASDAQ:  ONFC)
("Oneida"),  the parent  company of The Oneida  Savings  Bank,  and Vernon  Bank
Corporation  ("VBC"),  the  holding  company  of The  National  Bank  of  Vernon
("Vernon")  jointly  announced  today that they have  entered  into a definitive
merger agreement providing for the acquisition of VBC by Oneida. The transaction
received  unanimous  approval  of the Boards of  Directors  of Oneida  Financial
Corp.,  Oneida  Savings and VBC and due  diligence  by both  companies  has been
completed.

         Under terms of the  agreement,  Oneida  Savings Bank will pay $54.00 in
cash for each of the 210,447  shares of common stock  outstanding in Vernon Bank
Corporation.  Based on VBC's  most  recent  closing  price of  $29.25,  the deal
represents an 84.6% premium to shareholders. The terms represent a deal value of
approximately  $11.4 million.  As of June 30, 2006, total assets of The National
Bank of Vernon were $61 million;  deposits were $54 million and loans receivable
were $31 million.  It currently  operates three branches in Oneida County in the
towns of Vernon and Westmoreland, and in the city of Utica. Vernon branches will
be re-branded as Oneida Savings Bank facilities.

         The companies  expect to complete the merger early in 2007.  The merger
is subject to approval of the  stockholders  of VBC and regulatory  authorities.
Following the  completion of the merger,  the municipal  deposits of VBC will be
serviced  through  Oneida's  limited  purpose  commercial  banking   subsidiary.
Municipalities, school districts and other public funding sources throughout the
market  area will  utilize the entire  Oneida  Savings  Bank  branch  network to
service their needs.

         "Our  discussions  with The  National  Bank of Vernon were  continually
focused on developing a combination of two highly respected  banking  franchises
that best represents the interests of our collective  bank customers,  employees
and  shareholders."  stated  Michael R. Kallet,  President  and Chief  Executive
Officer of Oneida Financial Corp.  Kallet  continued,  "Greater access to branch
locations,  expanded  products and  services,  and our  community  banking focus
ensure that a local financial institution will be servicing the needs of Central
New York for generations to come."

         Richard A. Thaler, Chairman of the Board of The National Bank of Vernon
stated, "Early

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in our  discussions,  it became apparent that Oneida Savings sought to provide a
`homegrown' banking strategy for our customers.  Our merger is an opportunity to
enhance our technological capabilities,  expand our product line and broaden the
branch network in contiguous  markets for our collective  customer base." Thaler
continued, "Oneida Savings Bank has a proven record of providing opportunity for
employees,  delivering  exceptional  service  to their  customers  and  actively
participating  in the  communities  they serve. We view this as a combination of
two local institutions that share a common philosophy, history and geography."

         Finpro,  Inc. served as financial  advisor to Oneida  Financial  Corp.;
Danielson Associates,  Inc. served as exclusive financial advisor and provided a
fairness  opinion to Vernon Bank Corporation in connection with the transaction.
Legal  counsel for VBC is Bond,  Schoeneck  & King,  PLLC and for Oneida is Luse
Gorman Pomerenk and Schick, P.C..

         Oneida Financial Corp. reported total assets at June 30, 2006 of $436.8
million and  shareholders'  equity of $54.4 million.  The Company's wholly owned
subsidiaries  include;  The Oneida Savings Bank, a New York State chartered FDIC
insured  stock  savings  bank,  State  Bank of  Chittenango,  a state  chartered
limited-purpose  commercial bank, Bailey, Haskell & LaLonde Agency, an insurance
and  financial  services  company  and  Benefit  Consulting  Group,  an employee
benefits consulting and retirement plan administration firm. Oneida Savings Bank
was  established  in 1866 and operates  eight  full-service  banking  offices in
Madison, Oneida and Onondaga counties.

         This release may contain certain forward-looking statements,  which are
based on management's current expectations regarding economic,  legislative, and
regulatory  issues that may impact the  Company's  earnings  in future  periods.
Factors  that  could  cause  future  results  to vary  materially  from  current
management  expectations  include,  but are not  limited  to,  general  economic
conditions,  changes in interest rates,  deposit flows, loan demand, real estate
values,  and  competition;   changes  in  accounting  principles,  policies,  or
guidelines;  changes in legislation or  regulation;  and economic,  competitive,
governmental,  regulatory,  and  technological  factors  affecting the Company's
operations, pricing, products, and services.


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