EXHIBIT 99.2





               Ambanc Holding Co., Inc. Extends Purchase Offer and
           Urges Cohoes Bancorp, Inc. To Cancel The Lock-Up Option and
             Allow Its Shareholders to Vote On All Merger Proposals

AMSTERDAM,  N.Y.--  June 30,  2000--Ambanc  Holding  Co.,  Inc.  (Nasdaq:  AHCI)
extended to July 31,  2000 its  non-binding  proposal to purchase  each share of
Cohoes Bancorp,  Inc. stock for $15.25 in cash.  Ambanc also restated its desire
to enter into merger  discussions  with Cohoes and its  willingness to discuss a
combination  of cash and stock.

In  addition  to the Ambanc  offer for  Cohoes,  Cohoes has  received  two other
offers.  Cohoes entered into a merger agreement on April 25, 2000 under which it
would be  acquired  by Hudson  River  Bancorp,  Inc.,  with each share of Cohoes
common stock being  exchanged for 1.185 shares of Hudson River common stock.  In
connection with the merger agreement, Hudson River and Cohoes granted each other
options to purchase up to 19.9% of the outstanding shares of each other's common
stock under certain  circumstances  in the event the  transaction is terminated.
TrustCo  Bank Corp NY has made an offer to  purchase  Cohoes for  $16/share  and
Hudson River for  $14/share in exchange for  TrustCo's  stock.

John M. Lisicki,  President and Chief Executive  Officer of Ambanc,  stated that
"If the  directors  of Cohoes and Hudson  River  really  believe that the merger
between  Cohoes and Hudson River is in the best interest of their  shareholders,
they should welcome the opportunity to present all three merger  transactions to
a vote of their shareholders. This process will allow the shareholders to decide
which  deal is best  for  them.  To  further  make the  process  fair to all the
bidders, Cohoes and Hudson River should void the mutual lock-ups each issued the
other so that no bidder has an unfair  pricing  advantage."

Ambanc  Holding Co.,  Inc. is a unitary  savings and loan holding  company.  The
Company's  primary  subsidiary,  Mohawk Community Bank, serves customers through
seventeen upstate New York offices, located in Fulton, Montgomery,  Schenectady,
Saratoga,  Albany, Otsego,  Chenango and Schoharie counties. The Bank's deposits
are insured up to the maximum  legal  amount by the  Federal  Deposit  Insurance
Corporation  (FDIC).  Ambanc's  common  stock is traded on the  NASDAQ  National
Market, under the symbol "AHCI".

The  foregoing  material  contains  forward-looking  statements  concerning  the
financial condition,  results of operations and business of Ambanc following the
consummation  of its  proposed  acquisition  of  Cohoes.  We  caution  that such
statements  are subject to a number of  uncertainties  and actual  results could
differ materially and, therefore, readers should not place undue reliance on any
forward-looking   statements.   Ambanc  does  not  undertake,  and  specifically
disclaims,  any obligation to publicly release the results of any revisions that
may be made to any  forward-looking  statements  to reflect  the  occurrence  of
anticipated  or  unanticipated  events or  circumstances  after the date of such
statements.

CONTACT: Ambanc Holding Co., Inc.
John M. Lisicki,  President & CEO
(518) 842-7200
jlisicki@mohawkcommunitybank.com