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Pathfinder Bancorp profit doubles in fourth quarter
OSWEGO, N.Y. — Pathfinder Bancorp, Inc. (NASDAQ: PBHC), the holding company for Pathfinder Bank, reported net income of $3.9 million, or 64 cents a share, in the fourth quarter, up from $1.9 million, or 33 cents, in the year-ago quarter. The banking company’s fourth quarter total revenue (net interest income plus total noninterest income) of […]
NYS pension fund produced nearly 5 percent return last quarter
ALBANY, N.Y. — The New York State Common Retirement Fund produced an estimated return of 4.74 percent in the final quarter of 2021, its fiscal third quarter. That’s according to New York State Comptroller Thomas DiNapoli who also noted that the fund ended the quarter with an estimated value of $279.7 billion. “A strong [fiscal]
Plan post-COVID financial-planning, business goals
As COVID-19 case numbers drop and other news begins to take the top spot in the headlines, it’s a good time for individuals and business owners to take a moment to reassess their investment management, financial planning, and business goals as we begin to transition toward a post-pandemic world. “I think we’ve all just been concerned with
Lower 401(k) plan-fee trend continues, per reference book
The average total plan cost and investment fees for 401(k) plans continued to decline in the latest year, according to the new release of the “401k Averages Book,” 22nd Edition. Total investment costs declined between 0.01 percent and 0.06 percent from last year, with an average decrease of 0.03 percent, per the reference book. “The decline in
Morgan Stanley Wealth Management promotes Moles to VP
SYRACUSE, N.Y. — Morgan Stanley (NYSE: MS) recently announced that Nichole Moles — a financial advisor and insurance-planning director in the firm’s wealth management office in Syracuse — has been promoted to vice president. Moles has been with Morgan Stanley Wealth Management since 2004. She holds a bachelor’s degree in mass communication from Mansfield University
Schunck to lead Key Investment Services field organization in CNY, Rochester
Kevin Schunck recently joined KeyBank as senior VP and market leader for Key Investment Services. In this role, he will lead the local Key Investment Services field organization in Central New York and Rochester, working to grow revenue, increase market share, and provide clients in the mass-affluent segment with exceptional service, according to a KeyBank news release.
ASK RUSTY: Will I Have Any Social Security Benefits?
Dear Rusty: I’m 60 years of age and wonder if I will have any Social Security retirement benefits. After all, I did purchase them. Signed: Uncertain Dear Uncertain: Your eligibility for Social Security (SS) benefits depends upon your lifetime earnings history from work, from which Social Security FICA taxes were withheld. If you have worked,
State begins work on starting retirement program for private-sector employees
New York State has started work on establishing a retirement-savings plan for employees in New York’s private sector “who are not offered a retirement plan through their workplace,” per the program’s website. Gov. Kathy Hochul on Jan. 26 announced the convening of the New York Secure Choice Savings Program board, representing the first phase in
Strategic’s lead advisor earns CFP designation
UTICA, N.Y. — Melissa Fernalld, a lead financial advisor at Strategic Financial Services, Inc., a Utica–based wealth-management firm, has achieved her CFP designation from the Certified Financial Planner Board of Standards, Inc. This designation is awarded to individuals who successfully complete the CFP Board’s initial exams, then continue ongoing annual education programs to sustain their
Community Bank’s wealth-management revenue rises in Q4
DeWITT, N.Y. — Community Bank System, Inc. (NYSE: CBU) reported wealth-management revenue of $8.5 million in the fourth quarter of 2021, up 13.4 percent from $7.5 million in the year-ago quarter, and up 2.4 percent from $8.3 million in the third quarter of 2021. The rise in wealth-management revenue was primarily driven by increases in investment
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