SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 17, 2004
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 August 17, 2004, Pathfinder Bancorp, Inc. issued the enclosed press
release regarding the amendment to the second quarter earnings
release.
Item 7. Financial Statements and Exhibits
Exhibit 99 Press Release regarding adjusted second quarter earnings release
dated August 17, 2004.
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: August 17, 2004 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 dated August 17, 2004
EXHIBIT 99
CONTACT: THOMAS W. SCHNEIDER - PRESIDENT, CEO
JAMES A. DOWD - VICE PRESIDENT, CFO
TELEPHONE: (315) 343-0057
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PATHFINDER BANCORP, INC. ANNOUNCES ADJUSTED SECOND QUARTER EARNINGS
Oswego, New York, August 17, 2004 Pathfinder Bancorp, Inc., the mid-tier
holding company of Pathfinder bank, (NASDAQ SmallCap Market; symbol PBHC,
listing PathBcp) reported adjusted net income of $522,000 or $.21 per share, for
the quarter ended June 30, 2004 as compared to $517,000 or $.21 per share for
the quarter ended June 30, 2003. For the six months ended June 30, 2004 the
Company reported adjusted net income of $845,000, or $.35 per share, compared to
$1.0 million, or $.42 per share for the same period in 2004.
Previously reported earnings have been increased by $88,000, net of taxes of
$32,000, as a result of an adjustment associated with the sale of an equity
security holding at quarter end, identified during the preparation of quarterly
financial reports. As a result of the adjustment, total assets increased
approximately $58,000, total liabilities increased $32,000, and total
shareholders' equity increased $26,000.
Pathfinder Bancorp, Inc. is the mid-tier holding company of Pathfinder Bank, a
New York chartered savings bank headquartered in Oswego, New York. The Bank has
six full service offices located in its market area consisting of Oswego County.
Financial highlights for Pathfinder Bancorp, Inc. are attached. Presently, the
only business conducted by Pathfinder Bancorp, Inc. is the 100% ownership of
Pathfinder Bank and Pathfinder Statutory Trust I.
This release may contain certain forward-looking statements, which are based on
management's current expectations regarding economic, legislative, and
regulatory issues that may impact the Company's earnings in future periods.
Factors that could cause future results to vary materially from current
management expectations include, but are not limited to, general economic
conditions, changes in interest rates, deposit flows, loan demand, real estate
values, and competition; changes in accounting principles, policies, or
guidelines; changes in legislation or regulation; and economic, competitive,
governmental, regulatory, and technological factors affecting the Company's
operations, pricing, products, and services.