SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C.  20549




                                    FORM 8-K



                                 CURRENT REPORT



                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934



                Date of Report (date of earliest event reported)
                               November 16, 1998




                             AMBANC HOLDING CO., INC.
             (Exact name of registrant as specified in its charter)




  Delaware                        0-27306               14-1783770
(State or other                (Commission             (IRS Employer
 jurisdiction of                File No.)              Identification
 incorporation)                                           Number)




11 Division Street, Amsterdam, New York                  12010-4303
(Address of principal executive offices)                  (Zip Code)




       Registrant's telephone number, including area code: (518) 842-7200


                                       N/A
         (Former name or former address, if changed since last Report)

      


          Item 2.   Other Events

     On November 16, 1998,  Ambanc  Holding  Co.,  Inc., a Delaware  corporation
("Ambanc"),  completed  its  acquisition  of AFSALA  Bancorp,  Inc.,  a Delaware
corporation  ("AFSALA"),  pursuant to the  Reorganization  and Merger Agreement,
dated April 23, 1998 and amended as of June 26,  1998,  by and among  Ambanc and
its wholly owned subsidiary, Amsterdam Savings Bank, FSB (the "Bank") and AFSALA
and its wholly owned subsidiary, Amsterdam Federal Bank ("AFB"). Pursuant to the
Agreement,  AFSALA was merged with and into Ambanc, with Ambanc as the surviving
corporation  (the "Merger"),  and  thereafter,  AFB was merged with and into the
Bank,  with the Bank as the  surviving  entity.  Ambanc plans to  integrate  the
businesses of the Bank and AFB, which now operate as one  institution  under the
name "Mohawk Community Bank."

     Upon consummation of the Merger,  each share of the common stock, par value
$.10 per share,  of AFSALA  ("AFSALA")  converted into the right to receive 1.07
shares of the common  stock,  par value $.01 per  share,  of Ambanc  ("Ambanc").
Based on the  1,319,018  shares of AFSALA  common stock  issued and  outstanding
immediately  prior to the Merger,  Ambanc will issue 1,411,349  shares of Ambanc
Common Stock in the Merger.  In  addition,  under the Merger  Agreement,  Ambanc
assumed  unexercised  options to purchase  145,468 shares of AFSALA common stock
(which converted into options to purchase 155,650 shares of Ambanc common stock)
held by AFSALA's directors, officers and employees.

     Ambanc's Registration Statement (the "Registration  Statement") on Form S-4
(File No.  333-59721),  which  was  declared  effective  by the  Securities  and
Exchange  Commission (the  "Commission") on July 28, 1998,  contains  additional
information regarding the Merger and the parties involved, including among other
things the terms of the Merger Agreement and a description of AFSALA's business.
The Agreement was included as an exhibit to the Registration Statement.

          Item 7.   Financial Statements and Exhibits

                    (a)  Financial statements of business acquired.

                    The consolidated  financial statements of AFSALA (Commission
                    File  No.  0-  21113)   required  by  this  item  have  been
                    previously reported with the Commission and are contained in
                    AFSALA's  Annual  Report on Form  10-KSB for the fiscal year
                    ended September 30, 1997 and Quarterly Report on Form 10-QSB
                    for the Quarterly Period Ended June 30, 1998.



                    (b)  Pro forma financial information.

                    The pro forma  financial  information  required by this item
                    will be included in an  amendment  to this Report filed with
                    the Commission on or before February 1, 1999.




                                   SIGNATURES


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


                                   AMBANC HOLDING CO., INC.



Date: November 25, 1998           By:   /s/ John M. Lisicki
     --------------------             ---------------------------
                                      John M. Lisicki, President
                                       and Chief Executive Officer