OSWEGO — Pathfinder Bancorp, Inc. (NASDAQ: PBHC), the holding company for Pathfinder Bank, reported net income of $823,000 in the second quarter, up 14 percent from $721,000 in the year-ago period.
Profit at the Oswego–based banking company was lifted by a $288,000 after-tax gain on the sale of an $8.8 million residential-loan portfolio. Pathfinder said it sold longer term and fixed-rate, lower yielding loans as it seeks to manage the interest-rate risk of its balance sheet.
Pathfinder’s earnings per share rose to 33 cents in the second quarter from 24 cents in the year-earlier quarter.
(Sponsored)
ESOP Benefits for Architecture and Engineering Firms
Planning an exit strategy from your successful architecture or engineering firm can be difficult at times. While there are many options to choose from, one that many companies fail to
House of Representatives Passes $78 Billion Tax Package
On January 31, the House of Representatives overwhelmingly passed the Tax Relief for American Families and Workers Act of 2024, a tax package worth $78 billion. The bill was approved
Pathfinder Bank has eight full-service branch offices in Oswego County and northern Onondaga County. It is planning to open a loan-production office in the Pike Block Building in downtown Syracuse this fall.
To read more about Pathfinder Bank, check out the Aug. 2 Banking & Wealth Management special report in The Central New York Business Journal.
Contact Rombel at arombel@cnybj.com
