Oneida Financial, a unit of Oneida Savings Bank, has signed an agreement to acquire New York-based McMahon, Fenaroli and White insurance agency.

Oneida Financial provides insurance and risk management service activities through Bailey & Haskell Associates and McMahon, Fenaroli and White does business as Schenectady Insuring Agency (SIA).

Under terms of the accord, McMahon, Fenaroli and White will be merged into Bailey Haskell & LaLonde Agency (BHL), effective from 31 December 2012 and will continue to operate from their Schenectady, New York offices.

Bailey & Haskell Associates chief executive officer John Haskell said that the insurance operations expansion into New York’s Capital District will enable BHL to better serve customers while enhancing insurance brokerage presence throughout the city.

McMahon, Fenaroli and White president John Fenaroli said, "All of the employees of SIA will continue to work with their existing clients as employees of BHL and begin introducing new relationships to Oneida Financial Corp.’s team of banking, insurance and financial services professionals."