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Banks & Credit Unions
New state cyber rules may apply to some credit unions
Last November, the New York State Department of Financial Services (DFS) made updates to its cybersecurity regulations that may require credit unions to comply depending on what type of subsidiary lines of business the credit union operates, according to one cybersecurity expert. “Credit unions are typically not included because they are federally chartered,” FoxPointe Solutions […]
Pathfinder Bancorp CFO to retire; bank names successor
OSWEGO — Pathfinder Bancorp, Inc. (NASDAQ: PBHC), parent company of Pathfinder Bank, on May 8 announced that its senior VP and chief financial officer (CFO), Walter F. Rusnak, 70, will retire from the role after a career spanning more than 40 years in finance, effective June 28. The Oswego-based banking company announced it has selected
Community Bank System changes name to Community Financial System
DeWITT, N.Y. — Community Bank’s parent company has a new name. Community Bank System, Inc. announced it has changed its corporate name to Community Financial
Pathfinder Bancorp’s profit falls 18 percent in Q1 amid difficult conditions for banks
OSWEGO — Pathfinder Bancorp, Inc. (NASDAQ: PBHC), the holding company for Pathfinder Bank, reported that its net income declined more than 18 percent to $2.12 million, or 34 cents a share, in this year’s first quarter from $2.6 million, or 43 cents, in the first quarter of 2023. The banking company’s total revenue (net interest
Tompkins Financial boosts quarterly dividend to 61 cents a share
ITHACA — Tompkins Financial Corp. (NYSE: TMP) recently announced that its board of directors has authorized payment of a regular quarterly cash dividend of 61 cents per share for the second quarter of this year. The dividend amount is up 1 cent per share, or 1.6 percent, from the dividend of 60 cents a share
People news: AmeriCU Credit Union names new mortgage executive
ROME, N.Y. — AmeriCU Credit Union recently announced it has added David Abernethy to its mortgage team. He brings more than 20 years of mortgage-lending
People news: AmeriCU CEO named to CenterState CEO board
ROME, N.Y. — AmeriCU Credit Union President/CEO Ron Belle has been elected to the CenterState CEO board of directors, the Rome–based credit union says. CenterState
Chemung Financial posts strong sequential quarter profit growth
ELMIRA — Chemung Financial Corp. (NASDAQ: CHMG), the parent company of Chemung Canal Trust Company, reported that its net income nearly doubled in the first quarter of this year compared to last quarter. Elmira–based Chemung Financial produced net income of $7.1 million, or $1.48 per share, in the first three months of 2024, up 87
Oswego County FCU launches “Buy Now, Pay Later” product
OSWEGO — Oswego County Federal Credit Union (FCU) announced it has added “Buy Now, Pay Later” (BNPL) to its suite of online-banking products. Oswego County FCU says it has partnered with Scottsdale, Arizona–based equipifi, a BNPL platform tailored for debit-card issuers, to “enhance its offerings,” per a March 28 announcement. Oswego County FCU is a
Visions board reelects directors, reorganizes at March meeting
ENDWELL — Visions Federal Credit Union (FCU) reelected three directors to its board of directors during its 58th annual meeting held March 16 at its headquarters in Endwell. Michael Mullen, Mary Robinson, and Denise Stoughton were reelected to three-year terms on the board. The Visions FCU board also includes Jill Bennedum, Kenneth Kidder III, James
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