BSB Bancorp, Inc. Second Quarter Net Income was $4.0 Million

Share Name	Share Symbol	Market	Type
Partners Trust Financial Grp. (MM)	NASDAQ:PRTRD	NASDAQ	Common Stock

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BSB Bancorp, Inc. Second Quarter Net Income was $4.0 Million UTICA, N.Y., July 16 /PRNewswire-FirstCall/ -- Partners Trust Financial Group, Inc. (NASDAQ:PRTRD) announced today that net income for BSB Bancorp, Inc. ("BSB") for the quarter ended June 30, 2004 was $4.0 million, compared with net income of $4.1 million for the first quarter of 2004. As previously announced, BSB was acquired by Partners Trust on July 14, 2004. Net interest income for the quarter was $16.7 million, as compared to $17.2 million in the quarter ended March 31, 2004. The net interest margin for the quarter was 3.13% as compared with 3.26% for the quarter ended March 31, 2004, reflecting the continued low level of market interest rates. Non-interest expenses for the quarter totaled $11.8 million, as compared to $12.7 million in the first quarter. Included in the expenses for the quarter were merger expenses of $740,000. This compares with $172,000 of merger expenses recorded in the first quarter. Asset quality was consistent with Partners Trust's expectations at June 30, 2004. Non-performing loans at June 30, 2004 totaled $19.5 million or 1.40% of total loans at June 30, compared with $16.7 million or 1.17% of total loans at March 31, 2004. The primary contributor to the $2.9 million increase was one commercial loan totaling $3.0 million. The provision for loan losses for the quarter was $1.6 million, and was unchanged from the provision in the first quarter. The information provided in this release is intended to provide a brief summary of BSB's financial condition and results of operations as of and for the quarter ended June 30, 2004. It does not include any information for any period after June 30, 2004 or the impact of any purchase accounting adjustments recorded by Partners Trust as a result of the merger. Statements contained in this news release contain forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs of management as well as the assumptions made using information currently available to management. Since these statements reflect the views of management concerning future events, these statements involve risks, uncertainties and assumptions. These risks and uncertainties include among others, the impact of changes in market interest rates and general economic conditions, changes in government regulations, changes in accounting principles and the quality or composition of the loan and investment portfolios. Therefore, actual future results may differ significantly from results discussed in the forward-looking statements due to a number of factors, which include, but are not limited to, factors discussed in the documents filed by the Company with the Securities and Exchange Commission from time to time. BSB Bancorp, Inc. and Subsidiaries Summary Consolidated Financial Highlights June 30, March 31, 2004 2004 (Dollars in thousands) Total loans $1,394,865 $1,424,384 Allowance for loan losses $50,038 $48,080 Non-performing loans $19,549 $16,653 Non-performing loans to total loans 1.40% 1.17% Non-performing assets $20,532 $17,486 Non-performing assets to total assets 0.94% 0.79% Total assets $2,188,805 $2,221,475 Total deposits $1,544,752 $1,580,617 Three months ended June 30, March 31, 2004 2004 (In thousands) Interest income $26,846 $27,587 Interest expense 10,127 10,357 Net interest income 16,719 17,230 Provision for loan losses 1,620 1,620 Non-interest income 2,938 3,228 Non-interest expenses 11,786 12,690 Net income before taxes 6,251 6,148 Income taxes 2,284 2,031 Net income $3,967 $4,117 DATASOURCE: Partners Trust Financial Group, Inc. CONTACT: Steven Covert, Partners Trust Financial Group, Executive Vice President and CFO, +1-315-738-4993 Web site: http://www.sbu.com/

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PRTRD Partners Trust Financial Grp. (MM)