A merger between two of upstate New York's oldest savings banks would create the largest thrift company based in the state-capital region.

Hudson River Bancorp in Hudson announced Tuesday that it would acquire Cohoes (N.Y.) Bancorp for $87 million and rename itself Cohoes-Hudson Bancorp. The banking operations would be combined under the name Hudson River Bank and Trust, which would have $1.8 billion of assets and 38 branches. The merger is expected to close by the end of the year.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.