EXHIBIT (a)(3)



                          NOTICE OF GUARANTEED DELIVERY

                                       for

                               Tender of Shares of

                                 Common Stock of

                              COHOES BANCORP, INC.

         As set forth in Section 4 of the Offer to Purchase dated August 9, 2000
(the  "Offer  to  Purchase"),   this  Notice  of  Guaranteed   Delivery  or  one
substantially  equivalent  hereto  must be used to accept the Offer (as  defined
below) if certificates  representing  shares of common stock, par value $.01 per
share (the "Shares"), of Cohoes Bancorp, Inc., a Delaware corporation ("Cohoes")
are not immediately  available or time will not permit all required documents to
reach D.F.  King & Co., Inc. (the  "Depositary")  on or prior to the  Expiration
Date (as defined in the Offer to Purchase),  or the  procedures  for delivery by
book-entry  transfer  cannot be  completed  on a timely  basis.  This  Notice of
Guaranteed  Delivery may be  delivered  by hand or sent by  telegram,  facsimile
transmission or mail to the Depositary.

                        The Depositary for the Offer is:
                              D.F. King & Co., Inc.
                                Telephone Number:
                                 (781) 799-4433

By Mail:                    By Facsimile:          By Hand or Overnight Delivery
- --------                    -------------          -----------------------------
D.F. King & Co., Inc.       D.F. King & Co., Inc.  D.F. King & Co., Inc.
P.O. Box 859208             (781) 356-4987         165 Bay State Drive
Braintree, MA 02185-9208                           Braintree, MA 02184

                 Confirm Facsimile by Telephone: (781) 799-4433


         DELIVERY OF THIS NOTICE OF GUARANTEED DELIVERY TO AN ADDRESS OTHER THAN
AS SET FORTH ABOVE OR TRANSMISSION OF INSTRUCTIONS VIA A FACSIMILE  TRANSMISSION
TO A NUMBER OTHER THAN AS SET FORTH ABOVE DOES NOT CONSTITUTE A VALID DELIVERY.

         This  Notice  of  Guaranteed  Delivery  is not to be used to  guarantee
signatures.  If a  signature  on a  Letter  of  Transmittal  is  required  to be
guaranteed  by an "Eligible  Institution"  under the  instructions  thereto (see
Instructions 1 and 5 of the Letter of  Transmittal),  such  signature  guarantee
must appear on the applicable  space provided in the signature box on the Letter
of Transmittal.

LADIES AND GENTLEMEN:

         The undersigned  hereby tenders to Ambanc Holding Co., Inc., a Delaware
corporation, upon the terms and subject to the conditions set forth in the Offer
to Purchase  dated August 9, 2000 (the "Offer to  Purchase")  and in the related
Letter of Transmittal (which together  constitute the "Offer"),  receipt of each
of which is hereby  acknowledged,  the number of Shares indicated below pursuant
to the  guaranteed  delivery  procedures  set forth in Section 4 of the Offer to
Purchase.




Number of Shares: ______________________________________________________________

Certificates No(s). (if available): EXPIRATION__________________________________

If Share(s) will be tendered by book-entry transfer, check ONE box.

         Name of Tendering Institution:_________________________________________
         Account Number:________________________________________________________
         Transaction Code Number:_______________________________________________

Account Number: ________________________________________________________________

Date: __________________________________________________________________________

Name(s) of Record Holder(s):____________________________________________________

________________________________________________________________________________

Address(es):____________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

Area Code and Telephone Number(s):______________________________________________

________________________________________________________________________________

Signature(s):  _________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

                      THE GUARANTEE BELOW MUST BE COMPLETED
                                    GUARANTEE
                    (Not to be Used for Signature Guarantee)

         The undersigned,  a firm that is a bank, broker,  dealer, credit union,
savings  association  or other entity which is a member in good  standing of the
Securities  Transfer  Agent's  Medallion  Program hereby (a) represents that the
tender of shares  effected  hereby complies with Rule 14e-4 under the Securities
Exchange  Act of 1934,  as  amended,  and (b)  guarantees  the  delivery  to the
Depositary  at  one  of  its  addresses  set  forth  above,   the   certificates
representing all tendered Shares,  in proper form for transfer,  or confirmation
of a book-entry transfer of such Shares,  together with a properly completed and
duly executed  Letter of Transmittal (or facsimile  thereof),  with any required
signature  guarantees,  or an  Agent's  Message  (as  defined  in the  Offer  to
Purchase) in the case of a book-entry  delivery and any other documents required
by the Letter of  Transmittal,  all within three  NASDAQ  trading days after the
date of execution of this Notice of Guaranteed Delivery.

Name of Firm ___________________________________________________________________

Address ________________________________________________________________________

Area Code and Tele. Number:_____________________________________________________

________________________________________________________________________________
                             (AUTHORIZED SIGNATURE)

Title:__________________________________________________________________________


Name: __________________________________________________________________________
                             (PLEASE TYPE OR PRINT)

Date:___________________________________________________________________________

NOTE:  DO NOT SEND  CERTIFICATES  FOR  SHARES  WITH THIS  NOTICE  OF  GUARANTEED
DELIVERY.   CERTIFICATES   FOR  SHARES  SHOULD  BE  SENT  WITH  YOUR  LETTER  OF
TRANSMITTAL.