Exhibit a(11)

For Immediate Release

               Ambanc Announces Expiration of Cohoes Tender Offer
              Reaffirms its Commitment to an Acquisition of Cohoes

AMSTERDAM,  N.Y.--(BUSINESS  WIRE)-October  6,  2000--Ambanc  Holding Co.,  Inc.
(NASDAQ: AHCI) ("Ambanc") announced today that it will permit its pending tender
offer to acquire Cohoes  Bancorp,  Inc., to expire at 12:00  midnight,  New York
time, on Friday,  October 6, 2000.  Ambanc has instructed the depositary for the
offer  to  return  promptly  all  shares  tendered  to date  and not  previously
withdrawn.

John M.  Lisicki,  Ambanc's  President and CEO stated:  "We remain  committed to
acquiring  Cohoes and we will continue our efforts in this regard by immediately
communicating  our desire to engage in meaningful  merger  discussions  directly
with the Board of Cohoes.  We believe that a combination  beneficial to both the
Cohoes and the Ambanc stockholders can be achieved."

Mr. Lisicki also stated that Ambanc remains  committed to enhancing  shareholder
value in Ambanc, including repurchases of the Company's stock.

Ambanc  Holding Co.,  Inc. is a unitary  savings and loan holding  company.  The
Company's  primary  subsidiary,  Mohawk  Community  Bank,  serves  customers  in
seventeen upstate New York offices, located in Montgomery,  Fulton, Schenectady,
Saratoga,  Albany, Otsego,  Chenango and Schoharie counties. The Bank's deposits
are insured up to the maximum legal amount by the FDIC.

The foregoing material may contain forward-looking  statements.  We caution that
such statements may be 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