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New Listing: 37 Burden Drive, Oswego

37 Burden Drive – Oswego, NY 13126


Beautiful 3 bedroom townhouse with quality upgrades


This spacious 3 bedroom 1.5 bath townhouse is an incredible value with everything your “move in ready” client is looking for.

This home has been recently remodeled using only the highest quality materials and workmanship. From your very first step you will fall in love with the white marble floor and the perfect contrast of the gleaming dark hardwoods. The kitchen offers beautiful granite countertops & high-end stainless steel appliances.

Highlights include tons of storage and extra living space in the walkout basement. Not to mention the newly constructed deck with slider door and privacy fence.


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Relocate to the City of Oswego

Contact Tammy Murphy

Licensed NYS Real Estate Salesperson

342-5000 x728 (office) – 315-374-6495

or email tammy@askfitzre.com


New Listing: 172 E. 5th St., Oswego

172 East 5th Street – Oswego, NY 13126


Charming 4 bed, 1.5 bath colonial

172 E. 5th St., Oswego

Charming old colonial in the City of Oswego with  4 bedrooms. Option for 5th bedroom or den on the first floor. House has 1.5 baths.

Kitchen has back stair case and porch with stairs leading out to the back yard. Large dining room and living room. Some hardwood floors and built in cabinets.

Sun porch and screen room overlooking the quaint fenced in back yard.

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Relocate to the City of Oswego

Contact Christine Tombolillo

Licensed NYS Real Estate Salesperson

342-5000 x707 (office) – 315-591-7855 (cell)

or email christine@askfitzre.com


Oswego Town Republican Committee Announces Endorsed Candidates

Oswego, NY – During a recent meeting of the Oswego Town Republican Committee, several candidates were endorsed for Oswego Town offices, according to Richard Tesoriero, Oswego Town Republican Committee Chairman.Town Republican End

Shown pictured from left to right are candidates: David Sterio for Town Highway Superintendent; Dick Kaulfuss for Town Supervisor; Nikki Fowler for Town Clerk; Richard Tesoriero for Town Board; and Terry “Bucky” Wilbur for Legislator, District 21. Absent from photo is candidate Joseph Susino for Legislator, District 20.

New Listing: 78 Varick St., Oswego

78 Varick Street – Oswego, NY 13126


Beautifully remodeled 2 bedroom home close to Kingsford Park

This adorable 2 bedroom, 2 bathrom home has been completely remodelled.

Updates include: hardwood floors, windows, a new furnace and hot water heater. The kitchen has new cupboards, counter tops, and appliances. Bathrooms have also been remodeled with a laundry in the first floor bathroom.

The outside of the home has brand new vinyl siding. House has off street parking and is in a quiet neighborhood close to Kingsford Park, shopping, and downtown. Move in ready!

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Relocate to the City of Oswego

Contact Brendan Benson

Licensed NYS Real Estate Salesperson

342-5000 x709 (office) – 315-256-4066 (cell)

or email brendan@askfitzre.com


Little Leaguers Visit St. Luke Health Services’ Residents

OSWEGO, NY – Members of the St. Luke Health Care Services’ AA Oswego Little League Baseball team visited with residents of the Oswego-based healthcare facility recently.

St. Luke sponsored the AA team this season.

Little Leaguers visit residents

Little Leaguers visit residents

The players presented a plaque to Mike James, president of the St. Luke Health Services Resident Council, thanking them for their support.

From left in front row: Ayden Zwick, Aaron O’Brien, Jameson Stepien, Mike James, Alexis Pappa and Emery O’Brien.

Back row from left: Cayden Carpenter, Noah Bwayla, Coach Shane Stepien, Connor Albright, Coach Chris O’Brien, Dominic Pezzlo and Nolan O’Brien.

David Sterio Announces Candidacy For Oswego Town Highway Superintendent

OSWEGO TOWN, NY – David Sterio has announced his candidacy for the position of Oswego Town Highway Superintendent.

David Sterio Photo

David Sterio

Sterio, a registered Republican, has received the endorsement of the Oswego Town Republican Committee and will be running on the Republican, Conservative, and Independence lines.

A graduate of Oswego High School and Ithaca College, he resides with his wife, Jill (Hadlow), at 139 Valley View Drive, in the town of Oswego.

“I greatly appreciate the endorsement of the Oswego Town Republican Committee and all of the support I have received throughout my campaign,” Sterio said. “I believe I possess the right qualifications and skill set to perform the role and duties of the position and feel my professional management, organization, attention to details, and clear communications skills parallel the position responsibilities.”

With many years of experience in the construction industry, and management roles on multi-million dollar projects throughout Central New York, Sterio is currently a field superintendent for Knapp Electric and 20-year member of IBEW Local 43.

“My enthusiasm and aspirations for the Oswego Town Highway Superintendent position come with a strong sense of honesty, integrity, leadership and a willingness to serve the residents of the town of Oswego,” he added.

According to Sterio, he will step down from his position at Knapp Electric, if he is elected to the new position.

“This is a full-time commitment, full-time effort, and full-time position that I will take very seriously,” said Sterio. “It’s been a pleasure meeting the residents over the past couple of months and getting all of their feedback and suggestions. I am looking forward to the opportunity to meet others in the coming weeks leading up to Primary Day on September 10.”

Oswego City Band Concert Planned for August 19th

Oswego, NY – Please join the Oswego City Band for an exciting concert of Songs and Marches on August 19th at 7:00 PM, Breitbeck Park.

The performance features Forshay Tower Washington Memorial and Marquette March by Sousa and Prokofiev’s March Op. 99. Beautiful lyrical expressions comprise of Ticheli’s Cajun Folk Songs, the musical styling’s of Sinatra in Concert, British master composer Ralph Vaughn Williams’ Sea Songs and an enticing arrangement of Selections from Wicked. Other classic concert band favorites include Holst’s First Suite in Eb and Arnold’s Prelude, Siciliano and Rondo.

Condo for Sale: 201 W. 2nd St., #314- Oswego

201 W. 2nd Street – #314

Oswego, NY 13126


Immaculate 1 bedroom condominium in the City of Oswego


Many upgrades to this large one bedroom condominium.

This home has all new carpets and new tile flooring in the entry-way and bathroom. Kitchen has a new dishwasher

Condominium is freshly painted, has new bi-fold doors in vestibule and laundry, zoned heating, and a new patio door to balcony.

Shows well, in immaculate condition- move right in!

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Search Homes for Sale

Relocate to the City of Oswego

Contact Brendan Benson

Licensed NYS Real Estate Salesperson

342-5000×709 (office) – 315-256-4066 (cell)

or email brendan@askfitzre.com


Pathfinder Bancorp, Inc. Announces Second Quarter 2015 Net Income of $661,000

Oswego, N.Y. — Pathfinder Bancorp, Inc. (“Company”) (NASDAQ: PBHC), the holding company for Pathfinder Bank (“Bank”), announced second quarter 2015 net income available to common shareholders of $661,000, an increase of 2.3% compared to net income of $646,000 for the second quarter of 2014. Earnings amounted to $0.16 per diluted share for the second quarter of 2015, an increase of 6.7% compared to $0.15 per diluted share earned in the prior year period. Second quarter 2015 revenue (net interest income and total noninterest income) of $5.6 million increased $635,000, or 12.7%, compared to $5.0 million for second quarter 2014. 2015 year-to-date net income available to common shareholders was $1.2 million, or $0.28 per share, up 2.0% from the first six months of 2014.

Second Quarter 2015 Performance Highlights

  • Net interest income improved to $4.7 million, up 13.6% from second quarter 2014
  • Noninterest income of $952,000 increased 8.4% from the prior year quarter
  • Loans grew $15.9 million, or 4.1%, from December 31, 2014
  • Total deposits at quarter end of $457.6 million were up $42.0 million, or 10.1%, from $415.6 million at December 31, 2014
  • The ratio for average interest-earning assets to average interest-bearing liabilities improved to 121.57% compared to 115.89% for the prior year quarter
  • The Bank’s asset quality metrics remained stable and favorable. Net charge-offs as an annualized percentage of average loans improved to 0.12% for second quarter 2015, compared to 0.28% and 0.23% as of March 31, 2015 and June 30, 2014, respectively

“Our second quarter and six month performance was solid and very productive, characterized by improved bottom line results, increased net interest and noninterest income, strong loan growth and continued success attracting deposits. Loan growth was realized in both our residential and commercial [mortgage] portfolios, and deposit growth was broad-based coming from business, municipal and retail customers,” said Thomas W. Schneider, President and Chief Executive Officer. “Our deposit growth was gratifying because it occurred despite some rather aggressive pricing from competitors across our service footprint, indicating the ongoing strength of the Pathfinder brand. Our asset quality metrics remained strong with net loan charge-offs to average loans of only 0.12%, and nonperforming loans of 1.56% of ending loans. Margin compression continued to be a challenge during the second quarter, and will likely remain so for at least the near-term. The increase in our noninterest expense results from our commitment to adding the talent and systems necessary to prudently manage targeted growth.”

Income Statement

Second quarter 2015 net interest income increased $561,000, or 13.6%, to $4.7 million compared to $4.1 million for the second quarter of 2014.  The improvement was due principally to the $518,000 increase in interest income resulting from an increase of $69.7 million, or 14.1%, in average interest-earning assets compared to the prior year quarter. Average loans of $395.9 million were up $43.7 million, or 12.4%, from second quarter 2014 with balanced growth in commercial and residential loan portfolios. Average taxable investment securities were $124.1 million, an increase of $17.5 million, or 16.4%, from the prior year quarter. Second quarter interest expense decreased by $43,000 to $623,000, reflecting a nine basis point decrease in the average rate paid on interest-bearing liabilities, partially offset by a $37.5 million, or 8.8%, increase in average interest-bearing liabilities compared to second quarter 2014. Average deposits for the second quarter of 2015 were up $37.9 million compared to the prior year quarter.

For the six months ended June 30, 2015 net interest income increased $1.0 million, or 12.8%, to $9.2 million compared to the 2014 period. Interest income for the six-month period was $10.4 million, an increase of $889,000, or 9.4%, compared to the first six months of 2014. The increase was primarily a result of a $43.6 million, or 12.5%, increase in average loan balances. Interest expense of $1.2 million for the six months ended June 30, 2015 declined $154,000, or 11.3%, from the prior year period, reflecting a 12 basis point decrease in the average cost of interest-bearing liabilities, partially offset by an increase in average interest-bearing liabilities of $38.5 million.

Net interest margin for the three months and six months ended June 30, 2015, was 3.33% and 3.31%, respectively, compared to 3.34% and 3.36% for the comparable periods in 2014. The decrease in the net interest margin compared to second quarter 2014 was primarily a result of the six basis point reduction in the yield on average loans, partially offset by a 15 basis point reduction in the average rate paid on time deposits. Also affecting the net interest margin is the Company’s decision to keep a substantial portion of its investment portfolio in short duration obligations in anticipation of a future increase in long-term interest rates.   The reduction in interest margin for the 6 month period ended June 30, 2015 is primarily the result of a 12 basis point reduction in the yield on average loans and a 7 basis point increase in the average cost of money market demand deposit accounts, partially offset by a 24 basis point reduction in the average rate paid on time deposit accounts.

The provision for loan losses for the quarter ended June 30, 2015, was $401,000, compared with $275,000 for the prior year quarter. For the six month period the provision was $784,000 compared with a provision of $520,000 for the same period in 2014. The increase in the provision for both the three and six month periods is reflective of the strong growth in the Bank’s commercial lending portfolio during these periods, as well as an additional specific reserve recorded for one commercial credit relationship during the second quarter of 2015.

Second quarter 2015 noninterest income of $952,000 increased $74,000, or 8.4%, compared to $878,000 for the prior year second quarter. The increase in current year noninterest income was due primarily to higher other charges, commissions and fees, which rose by $116,000, or 44.4%, reflecting higher commission income from Pathfinder Risk Management’s 51% interest in FitzGibbons Agency, LLC and from Investment Services.

Noninterest income for the first six months of 2015 was $1.8 million, an increase of $113,000, or 6.6%, compared to $1.7 million for the prior year period. The improvement in 2015 noninterest income was due primarily to increased levels of insurance commissions, income from bank owned life insurance, ATM fees, investment services revenue and net gains on sales and redemptions of securities, partially offset by lower gains on sales of loans and foreclosed real estate, lower service charges on deposit accounts, and reduced loan servicing fees.

Total noninterest expense for second quarter 2015 was $4.2 million, an increase of $469,000, or 12.5%, in comparison to $3.8 million for the prior year quarter. The increase in noninterest expense was due principally to an increase in salary and benefit expenses of $169,000 related to merit increases and personnel costs associated with the staffing of our new downtown Syracuse business banking office. In addition, building occupancy costs rose by $77,000 related to the opening of the new Syracuse office in third quarter 2014.

Noninterest expense for the six months ended June 30, 2015 increased $786,000, or 10.2%, to $8.5 million from $7.7 million for the prior year period. The increase is due largely to the $354,000 increase in personnel expenses and $173,000 increase in building occupancy expenses between these two time periods, both primarily related to the third quarter 2014 opening of the downtown Syracuse business banking office.

Balance Sheet at June 30, 2015

Total assets at June 30, 2015 were $600.3 million, up $39.3 million, from December 31, 2014. This increase was primarily a result of higher loans and available-for-sale securities. Total loans grew $15.9 million in the first half of 2015, compared to the prior year end period, reflecting strength in the residential and commercial portfolios. The growth in the securities portfolio reflects the acquisition of short-term collateral for the inflow of municipal deposits which typically occurs in the first and third quarters. Also, the Company continues to invest in shorter duration investment securities in anticipation of higher future long-term interest rates.

Total deposits at June 30, 2015 were $457.6 million, an increase of $42.0 million, or 10.1%, from December 31, 2014. The increase was driven by continued substantial municipal inflows related to seasonal tax collections, increased inflows from commercial banking relationships, as well as a $1.7 million increase in retail deposits.

Asset Quality

Second quarter asset quality metrics remained stable in comparison to recent reporting periods and reflective of the markets where Pathfinder branches are located. The ratio of net loan charge-offs to average loans for second quarter 2015 was 0.12%, down 11 basis points from 0.23% for second quarter 2014, and down 16 basis points from 0.28% in first quarter 2015. Nonperforming loans to total loans were 1.56% for the second quarter, down 24 basis points compared to 1.80% in second quarter 2014, and up one basis point from 1.55% for first quarter 2015. The loan loss allowance to non-performing loans for second quarter 2015 was 93.96%, improved from 80.11% for second quarter 2014 and 90.03% for first quarter 2015.

 Dividend Declared

On June 29, 2015, the Company announced that its Board of Directors had declared a cash dividend of $0.03 per common share for the quarter ending June 30, 2015, which is payable to shareholders of record as of July 15, 2015 on August 3, 2015. Based on the closing price of the Company’s common stock of $11.56 on July 24, 2015, the implied dividend yield is 1.0%. Measured against second quarter 2015 earnings per diluted share of $0.16, the dividend represents an 18.8% payout ratio. The Board of Directors routinely considers dividend declarations as part of its normal course of business.

Pathfinder to Combine with Subsidiary Under New York Commercial Bank Charter

Pathfinder Bancorp, Inc. the parent holding company for Pathfinder Bank, (the “Bank”), announced on May 8, 2015 that the Bank had filed an application with the New York State Department of Financial Services (“NYSDFS”) and the Federal Deposit Insurance Corporation (“FDIC”) to combine with the Bank’s wholly-owned subsidiary, Pathfinder Commercial Bank, a New York State-chartered commercial bank.  Prior to or simultaneously with the combination, Pathfinder Commercial Bank’s charter will be amended such that Pathfinder Commercial Bank will become a full-service commercial bank, rather than a limited purpose commercial bank, which it currently is, and its name will be changed to “Pathfinder Bank”

The transaction is expected to be completed in either the third or fourth quarter of 2015 and will have little impact on the current activities or investments of the Bank and Pathfinder Commercial Bank, although the Bank expects some annual cost savings as a result of the conversion.

About Pathfinder Bancorp, Inc.  

Pathfinder Bancorp, Inc. (the “Company”) is a Maryland corporation headquartered in Oswego, NY. The Company’s primary business is its 100% ownership of Pathfinder Bank (the “Bank”). Pathfinder Bank is a New York chartered savings bank with eight full service offices located in Oswego County and northern Onondaga County, as well as a business banking office located in downtown Syracuse, NY. Through its subsidiary, Pathfinder Risk Management Company, Inc., the Bank owns a 51% interest in the FitzGibbons Agency, LLC. In October 2014, the Company completed its conversion from a mutual holding company to full public ownership by selling 2.6 million shares of common stock which raised $26.4 million in gross proceeds. As of June 30, 2015, there were 4,352,203 shares of common stock issued and outstanding. The Company’s common stock trades on the NASDAQ market under the symbol “PBHC.” At June 30, 2015, the Company and subsidiaries had total consolidated assets of $600.3 million, total deposits of $457.6 million and shareholders’ equity of $69.7 million.

Forward-Looking Statement

Certain statements contained herein are “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward looking statements may be identified by reference to a future period or periods, or by the use of forward looking terminology, such as “may,” “will,” “believe,” “expect,” “estimate,” “anticipate,” “continue,” or similar terms or variations on those terms, or the negative of those terms. Forward looking statements are subject to numerous risks and uncertainties, as described in our SEC filings, including, but not limited to, those related to the real estate and economic environment, particularly in the market areas in which the Company operates, competitive products and pricing, fiscal and monetary policies of the U.S. Government, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, acquisitions and the integration of acquired businesses, credit risk management, asset-liability management, the financial and securities markets and the availability of and costs associated with sources of liquidity.

The Company wishes to caution readers not to place undue reliance on any such forward looking statements, which speak only as of the date made. The Company wishes to advise readers that the factors listed above could affect the Company’s financial performance and could cause the Company’s actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. The Company does not undertake and specifically declines any obligation to publicly release the results of any revisions, which may be made to any forward looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Oswego City Band Presents Concert Comprising Of Soloists, Musicals, and Exuberance

OSWEGO, NY –  The Oswego City Band will present a concert comprising of Soloists, Musicals, and Exuberance on August 5 at  7 p.m. in  Breitbeck Park.

Musical selections from the classic The King and I by Richard Rodgers and Arlen and Harburg’s The Wizard of Oz will delight the audience with memorable tunes.

Virtuoso trombonist Steve Chirello, trumpeter Joe Hennebery, and English Hornist Nina Alcasid will be featured on Sammy Nestico’s jazz influenced Reflective Moods and Arron Copland’s beautiful yet haunting Quiet City.

Exciting and bombastic music including Holst’s Mars, Franz von Suppe’s Poet and Peasant Overture and marches by Sousa will energize the audience along with Arnold’s Prelude, Siciliano and Rondo.

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Pathfinder Bank Donates Funds in Support of ARISE’s Oswego County Ramp Program

Demonstrating a continued commitment to the community, Pathfinder Bank made a generous contribution to the ARISE Oswego County Ramp Program. This gift will support ARISE’s work to provide ramps and other minor home access modifications to families in need.

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Sandra Scott Travels: Explore Central NY’s Native American Heritage

Before the Europeans arrived in what is now called New York State, the Haudenosaunee (Iroquois) Confederacy ruled the area. They formed a confederacy comprised of the Mohawks, Onondagas, Oneidas, Cayugas, Senecas and Tuscaroras. By the way, Haudenosaunee is the correct way to refer to the Iroquois. The word Iroquois is an English corruption of a French corruption of an Algonquian word that was used as an insult.

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Mary G. Earle, 83

Mary G. Earle, 83, of Phoenix, NY, passed away at Pontiac Nursing Home, Oswego, NY, on Thursday August 27, 2015.

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Pet of the Week – Tessa

Tessa was a scrawny thing rescued from under a porch with a bunch of kittens. She was scared and we thought she may be too unsocialized to be adopted and would have to go to a barn. But we were wrong. As soon as she didn’t have to fight to protect her babies, she turned into her real lovey-dovey self.

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Van Fire On SUNY Oswego Campus

A vehicle fire was reported behind the Lonis-Moreland residence halls’ dining hall on Sixth Avenue on the SUNY Oswego campus. It happened shortly before 1 p.m. Friday. Westside units from Oswego Fire Department responded to a working cargo van fire near Mackin Dinning Hall.

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