Alliance Financial Corporation (Alliance) is a financial holding company. The Company is the holding company of Alliance Bank, N.A. (the Bank). The Bank provides financial services from 29 retail branches and customer service facilities in the New York counties of Cortland, Madison, Oneida, Onondaga, Oswego, and from a Trust Administration Center in Buffalo, New York. The primary services provided by the Bank includes commercial, retail and municipal banking, consumer finance, mortgage financing and servicing, trust and investment management services. The wholly owned subsidiaries of the Bank include Alliance Preferred Funding Corp., which is engaged in residential real estate activity, and a wholly owned subsidiary, Alliance Leasing, Inc.