AMSTERDAM, N.Y. - Ambanc Holding Co. said it would let its tender offer for Cohoes Bancorp expire but would continue its pursuit of the upstate New York thrift.

Ambanc's bid was set to expire last Friday. Instead of extending it, the $703 million-asset company said it would pursue talks with management at the Cohoes, N.Y., company, which is also being pursued by Trustco Bank Corp. in Schenectady.

"We remain committed to acquiring Cohoes, and we will continue our efforts in this regard by immediately communicating our desire to engage in meaningful discussions directly with the board of Cohoes," John M. Lisicki, Ambanc's president and chief executive officer, said in a statement.

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