OSWEGO — Pathfinder Bancorp, Inc. (NASDAQ: PBHC) earned $529,000, or 16 cents a share, in the first quarter, up from $426,000, or 12 cents a share, a year earlier.
A rise of $174,000 in net interest income drove the improved profit, according to the Oswego–based banking company.
“While total loans outstanding did not increase in the first quarter, our loan pipeline set to close during the second quarter will help us continue to offset net interest rate spread compression,” Pathfinder President and CEO Thomas Schneider said in a news release.
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Pathfinder has total assets of more than $468 million and eight branches in Oswego and Onondaga counties.
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