OSWEGO — Pathfinder Bancorp, Inc. (NASDAQ: PBHC), parent of Pathfinder Bank, reported that its third-quarter profit fell 21 percent, driven by increased labor costs.
Pathfinder reported on Friday that net income dipped to $528,000 in the third quarter from $670,000 in the year-ago period. The profit decrease “was principally due to the $300,000 increase in personnel expenses driven, in part, by increased health insurance expenses,” Pathfinder said in the earnings report.
Pathfinder Bank is a New York chartered savings bank headquartered in Oswego. It has eight full-service offices located in its market area of Oswego County and northern Onondaga County.
Contact Rombel at arombel@cnybj.com
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