BSB Bank & Trust Company to Relocate Mortgage Corporation Facility

Business Wire, March 18, 2002

Business Editors

BINGHAMTON, N.Y.--(BUSINESS WIRE)--March 18, 2002

BSB Bank & Trust Company has announced plans to relocate BSB Mortgage Corporation, a wholly owned subsidiary of the Bank, from the Valley Plaza in Johnson City, NY to 1923 Vestal Parkway East, Vestal, NY.

The new location is the former site of a Nationwide Insurance Company branch office. The proposed relocation is subject to regulatory approval and is expected to open by early summer.

Howard W. Sharp, President and C.E.O. of the Bank stated, "BSB Mortgage Corporation has outgrown its current facility. The new site on the Vestal Parkway presents an excellent opportunity for us to expand our operations and provide a higher level of service to our mortgage customers."

The size of the new facility (approximately 4,500 square feet) will allow BSB to locate the functions of the entire mortgage loan process, from application to closing, under one roof. This will increase operational efficiencies and maximize both the level and quality of service provided to residential mortgage customers. The facility will house approximately sixteen (16) employees. The new location has ample available parking and is located in the immediate vicinity of the five largest real estate companies serving the Southern Tier.

BSB Bank & Trust Company is a wholly owned subsidiary of BSB Bancorp, Inc. a Bank holding company with consolidated assets of $2.1 billion at December 31, 2001. The Bank is a major provider of deposit and loan products to both businesses and consumers. It services its customers from its 22 full service-banking offices in Broome, Onondaga, Chemung, Chenango and Tioga counties. In addition, the Bank provides trust, government banking, brokerage and other related services. More information about BSB can be obtained on the Internet at www.bsbbank.com.