Press Release
Approval of the Application by Canisteo Valley Corporation
November 4, 1997

NEW YORK—The Federal Reserve Bank of New York Tuesday approved the application by Canisteo Valley Corporation, Canisteo, NY, to become a bank holding company with respect to First State Bank of Canisteo.

According to standard procedure, the proposal cannot be completed for 15 days.

The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.