Article: Alliance Financial Announces Quarterly Earnings.

SYRACUSE, N.Y., Oct. 14 /PRNewswire-FirstCall/ -- Alliance Financial Corporation ("Alliance", or the "Company") , the holding company for Alliance Bank, N.A., announced today its net income for the quarter ended September 30, 2009 was $3.0 million or $0.64 per diluted common share, compared with $3.0 million or $0.65 per diluted common share in the year-ago quarter. Net income increased $922,000 or 45.3% compared with the second quarter of 2009 due primarily to a $608,000 increase in net interest income and a $675,000 decrease in the provision for credit losses as a result of a $670,000 decrease in net charge-offs in the third quarter.

Net income was $8.0 ...

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