SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 8, 2003
Pathfinder Bancorp, Inc.
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(Exact name of registrant as specified in its charter)
Federal 000-23601 16-1540137
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(State or other jurisdiction (Commission File No.) (I.R.S. Employer
of incorporation) Identification No.)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (315) 343-0057
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NOT APPLICABLE
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(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
Item 5. Other Events
On January 8, 2003, Pathfinder Bancorp, Inc. issued the enclosed press release
regarding the announcement of the relocation of the Fulton branch office.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
EXHIBIT 99 PRESS RELEASE DATED JANUARY 8, 2003
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
PATHFINDER BANCORP, INC.
Date: January 8, 2003 By: /s/ Thomas W. Schneider
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Thomas W. Schneider
President and Chief Executive
Officer
EXHIBIT INDEX
The following Exhibit is filed as part of this report:
Exhibit 99 Press Release
EXHIBIT 99
NEWS RELEASE
CONTACT: Thomas W. Schneider
President & CEO
214 West First Street
Oswego, NY 13126
315-343-0057
FOR IMMEDIATE RELEASE
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January 8, 2003
PATHFINDER BANK TO RELOCATE FULTON
BRANCH OFFICE. EXPECTED TO OPEN BY JUNE 2003.
FULTON, NEW YORK - Pathfinder Bank, the operating subsidiary of Pathfinder
Bancorp, Inc., announced that it has filed applications with its primary
regulators to relocate its branch office in Fulton, New York, according to
Thomas W. Schneider, President and CEO.
The proposed relocation involves moving the branch approximately of a
mile from the east side of the Oswego River to the west side of the river. The
current branch is located at 114 Oneida Street on the corner of Rt. 481 and
Oneida Street. The new branch is to be located at 5 W. First Street South, on
the corner of West First and Schenck Streets.
"The present location, while it provides good visibility for the bank, is not
convenient to our customers in the Fulton community. Heavy traffic volumes in
that area inhibit customer accessibility and branch parking has always been
limited," according to Schneider. "The new location will be far easier to
access and exit, will have adequate parking for our customers needs, and will
also include three convenient drive-thru lanes", stated Schneider.
"We feel that the move will allow us to better serve our current customers
while providing a platform on which to expand our business in the Fulton
community", according to Schneider.
The new location is across the street from the Tops Supermarket and shares
contiguous space with the new west side Dunkin' Donuts. The bank will construct
the branch on leased land. Steven W. Thomas, a director of the bank, is a 50%
owner of the company that is leasing the land to the bank. Mr. Thomas has not
participated in any voting matters by the Board of Directors authorizing the
application for relocation and the lease execution. The proposed relocation is
subject to the approval of the New York State Banking Department and the Federal
Deposit Insurance Corporation.
It is anticipated that construction of the new facility will be completed
during the Spring of 2003 and the new branch will open by June 1, 2003. The
employees at the current branch will remain with the bank in the new facility.
Pathfinder Bancorp, Inc. is the mid-tier holding company of Pathfinder Bank; a
New York State chartered savings bank headquartered in Oswego, New York with six
branch locations in Oswego, Fulton, Mexico and Lacona.