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Oneida Financial Q4 profit rises nearly 11 percent

By Traci DeLore

Date:

ONEIDA — Oneida Financial Corp. (NASDAQ: ONFC), parent company of Oneida Savings Bank,  reported that its fourth-quarter profit rose almost 11 percent as net interest income and non-interest income increased and credit quality improved.

Oneida Financial announced Tuesday after the close of trading that its fourth-quarter net income rose to $1.7 million, or 24 cents per share, from $1.5 million, or 21 cents, a year earlier.

For the full year, Oneida Financial’s net income grew from $3.8 million, or 53 cents per share, in 2010 to $5.7 million, or 82 cents, in 2011.

“Oneida Financial continues to succeed in Central New York and beyond despite record low interest rates and a highly competitive banking and insurance marketplace,” company President and CEO Michael R. Kallet said in a news release.

Headquartered in Oneida, Oneida Financial (www.oneidafinancial.com) is the parent company of Oneida Savings Bank; State Bank of Chittenango; Bailey & Haskell Associates, Inc.; Benefit Consulting Group, Inc.; and Workplace Health Solutions, Inc. Oneida Savings Bank operates 12 branch offices in Madison, Oneida, and Onondaga counties.

Contact DeLore at tgregory@tmvbj.com

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