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Community Bank expects to close Oneida deal in October

Community Bank System says it expects to complete its acquisition of Oneida Financial Corp. in October.

The DeWitt-based bank initially planned to finish the $142 million stock-and-cash deal this month, but in June, the bank indicated it would take longer to obtain the necessary regulatory approvals. The merged bank is expected to rank No. 4 in market share in the Syracuse area.

Community Bank has a significant presence in Western New York. Earlier this year, it moved into a new loan and mortgage operations center in Cattaraugus County.

Community Bank on Monday reported net income of $23.8 million in the second quarter, up 0.7 percent from a year ago. It recorded diluted earnings per share of 58 cents in the quarter, up from 57 cents a year ago.