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Commercial Space for Sale- 209 W. 7th St., Oswego

209 W. 7th St. – Oswego, NY 13126

$289,000

Medical building for sale with 2 floors of office space

209W.7th-Outside2

Very well maintained office building for sale. Rooftop A/C units were replaced in 2009, new EPDM roof waterproofing in 2014. This commercial space offers plenty of parking for both clients and staff with a 2 car garage as well as a parking lot. Office is handicap accessible.

Inside is an open showroom that features solid oak cabinets, fully finished lower unit with A/C. Total square footage for this office building is 5,622.

See more information here.

Contact Brendan Benson

Licensed NYS Real Estate Salesperson

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

or email brendan@askfitzre.com

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New Listing: 176 E. Seneca St., Oswego

176 E. Seneca St – Oswego, NY 13126

$92,000

Adorable, updated colonial on Oswego’s East side.

176 E Seneca- Front2

Very nice 3 bedroom, 1.5 bath colonial home in Oswego East side, close to School & shopping.

Hardwoods floors throughout, updated kitchen with new appliances within past two years, Gas fireplace in living room, French doors, updated windows. Possible bedroom on the first floor. Good size backyard with deck and patio, off street parking.

House is move-in ready!!!

See more information about this listing

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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

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Ivison Joins Step One Creative as Summer Marketing Intern

Oswego, NY – Step One Creative, an Oswego-based advertising design and public relations firm has announced that Olivia Ivison of Oswego has joined the agency as a summer intern, according to president Shane R. Stepien.

Ivison, who is a native of Lacona, New York, is a junior marketing major with concentrations in advertising and communications at St. John Fisher College in Rochester. Ivison has made Dean’s List during both the fall 2014 and spring 2015 semesters.Olivia Ivison

“I’m very thankful to have the opportunity to gain experience in my chosen field so close to my hometown,” Ivison said. “I’m excited to apply all that I’ve learned at St. John Fisher in a professional setting and give back to the greater Oswego County community.”

“We look forward to having Olivia assist our team with a variety of projects this summer,” said Stepien. “She is an active student on campus at St. John Fisher College, and we believe the experience that she will garner from our agency will complement her curriculum knowledge.”

Established in 1996, Step One Creative, a division of Step One Communications, LLC, is an advertising design and public relations firm located at the Stevedore Lofts, 317 West First Street, Suite 101, in Oswego, that offers full-service advertising design, brand development, public relations, copywriting, web design, and media planning/placement to organizations and businesses throughout Central and Upstate New York.

For additional information on Step One Creative please call (315) 342-2554 or visit online at www.steponecreative.com.

OVIA Insurance Employees Assist with Fulton Little League Field Clean Up Day

FULTON, NY – Employees of the Fulton Office of OVIA Insurance Agencies were on hand recently at Fulton Kiwanis Kidhaven Park for the Fulton Little League “Field Clean Up Day.”

From left are OVIA employees: Debbie Hausele, Sue Balcom, Amanda Serow, Jim Poindexter and Amy Shaw.

From left are OVIA employees: Debbie Hausele, Sue Balcom, Amanda Serow, Jim Poindexter and Amy Shaw.

OVIA Insurance Agencies has traditionally sponsored a team in the Fulton Little League, and this season wanted to assist with the field clean up.

According to Jim Poindexter, Vice President of OVIA Insurance Agencies, one of the employees’ spouse even donated his time this spring to renovate the inside of the concession stand.

New Listing: 3 Talisman Terrace, Oswego

3 Talisman Terrace – Oswego, NY 13126

$257,000

Beautiful 3 bedroom home in Brittany Hill

3 Talisman Terrace, Oswego

Beautiful 3 bedroom, 2.5 bath home in Brittany Hill sub-divison, built in 2013.

Home has cathedral ceilings, gorgeous hardwood floors throughout, and an open floor plan. Central air has been added to the home and it has a partially finished basement with an additional bedroom. Master bedroom has a large walk in closet and much more.

Move right in!

See more information about this listing

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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

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Pathfinder Bancorp, Inc. Reports First Quarter 2015 Net Income of $497,000

OSWEGO, NY – May 4, 2015 — Pathfinder Bancorp, Inc. (“Company”) (NASDAQ: PBHC), the holding company for Pathfinder Bank (“Bank”), announced first quarter 2015 net income available to common shareholders of $497,000 or $0.12 per diluted share, compared to net income of $489,000, or $0.12 per diluted share, for the first quarter of 2014. First quarter 2015 revenue (net interest income and total noninterest income) grew $522,000, or 10.8%, compared to first quarter 2014.

First Quarter 2015 Performance Highlights

  • 0% growth in net interest income – to $4.5 million – compared with first quarter 2014
  • Total loan growth of 12.2% to $390.6 million, up from $348.1 million for first quarter 2014
  • Total deposits at March 31, 2015 of $483.2 million were up $32.9 million, or 8.3%, from March 31, 2014, primarily due to seasonal inflows into municipal accounts
  • The ratio for average interest-earning assets to average interest-earning liabilities improved to 121.86% compared to 115.74% for the prior year quarter
  • Nonperforming loans to period end loans declined to 1.55% as compared to 2.01% for the first quarter of 2014. Asset quality metrics continue to be stable.

“We continued to execute on our strategic priorities in the first quarter of 2015, with a focus on productive deployment of a significant portion of the capital raised near the end of 2014,” said Thomas W. Schneider, President and Chief Executive Office. “Our strong Central New York brand and market presence within our service area helped to drive both loan and deposit growth in the first quarter. Substantive growth in interest-earning assets partially offset margin compression which continues to be an industry-wide challenge. Our very strong capital position enables us to react quickly to opportunities to support the under-served small business markets, as well as customers who have been disenfranchised as a result of market consolidation. We believe that 2015 will offer continued opportunity for commercial real estate and commercial business lending growth within our existing footprint, consistent with our safe and sound underwriting practices.”

Income Statement

First quarter 2015 net interest income increased $483,000, or 12.0%, to $4.5 million compared to the first quarter of 2014.  The improvement in net interest income was due principally to the $371,000 increase in interest income resulting from growth in average interest-earning assets of $73.4 million compared to the prior year quarter. Average loan growth of $43.6 million, or 12.6%, comprised primarily of commercial real estate, commercial and residential mortgage loans and a $24.9 million, or 25.8%, increase in the average balance of taxable investment securities drove the increase in interest earning-assets, which more than offset a 26 basis point decrease in the average yield on interest-earning assets. Also contributing to the improvement in net interest income for first quarter 2015 was a $112,000 decrease in interest expense compared to the prior year quarter. Lower interest expense was due principally to the 32 basis point decrease in average rates paid on time deposits compared to first quarter 2014, and lower interest rates for borrowings which decreased by 65 basis points. The lower rates more than offset a $39.6 million increase in the average balance for interest-bearing liabilities compared to first quarter 2014.

Net interest margin for the three months ended March 31, 2015, was 3.28% a 10 basis point decline compared to first quarter 2014, and a 16 basis point decrease from fourth quarter 2014. The decrease in the net interest margin compared to first quarter 2014 was primarily a result of the 18 basis point reduction in the yield on average loans, partially offset by the lower rates paid on time deposits and borrowings as described above. Also affecting the net interest margin was the Company’s decision to keep a substantial portion of its investment portfolio, including the recently acquired securities used as collateral for the growing municipal deposit base, in short duration obligations in preparation for a future increase in long-term interest rates.

The provision for loan losses for the quarter ended March 31, 2015, was $383,000, an increase of $138,000 compared with the prior year quarter. The increase in the provision was due to an additional specific reserve recorded relating to one large commercial credit relationship, combined with continued growth in commercial lending activities.

First quarter 2015 noninterest income of $865,000 increased $39,000, or 4.7%, compared to the prior year first quarter. The increase in 2015 noninterest income was due primarily to a $50,000 increase in the net gains on sales of securities, and a $25,000 improvement in earnings from bank-owned life insurance, partially offset by lower commissions and fees earned from Pathfinder Risk Management’s 51% membership interest in FitzGibbons Agency, LLC., and a reduction in the revenue generated by the company’s investment securities activities.

Total noninterest expense for first quarter 2015 was $4.2 million, an increase of $317,000, or 8.1%, in comparison to the prior year quarter. The increase in noninterest expense was due principally to an increase in salary and benefit expenses of $184,000, primarily comprised of personnel costs associated with the staffing of our new downtown Syracuse business banking office, and increased ESOP and deferred compensation plans expenses, along with a $95,000 increase in building occupancy costs also related to the opening of the Syracuse office in the third quarter 2014.

Balance Sheet at March 31, 2015

Total assets at March 31, 2015 were $606.8 million, up $45.8 million from December 31, 2014. This increase was primarily a result of increased available-for-sale securities and cash and cash equivalents. The growth in the securities portfolio is a result of the need to acquire short-term collateral for the inflow of municipal deposits which typically occurs in the first and third quarters of the year. Also, the Company continues to invest in shorter duration investment securities in anticipation of higher future long-term interest rates. Total loans grew $3.1 million in the first quarter of 2015 reflecting normal seasonal lending demand trends.

Total deposits at March 31, 2015 were $483.2 million, an increase of $67.6 million from December 31, 2014. The increase was driven by substantial municipal inflows related to seasonal tax collections, as well as a 20.4% increase in noninterest-bearing deposits related to business lending relationships.

Asset Quality

First quarter 2015 asset quality metrics remained stable in comparison to recent reporting periods and reflective of the markets where Pathfinder Bank branches are located. The ratio of net loan charge-offs to average loans for first quarter 2015 was 0.28%, down five basis points from 0.33% for first quarter 2014, and up three basis points from 0.25% in fourth quarter 2014. Nonperforming loans to total loans were 1.55% for the first quarter of 2015, down 46 basis points compared to 2.01% in first quarter 2014, and down six basis points from 1.61% for fourth quarter 2014. The allowance for loan losses to non-performing loans for first quarter 2015 was 90.03%, an 18 basis point improvement compared to first quarter 2014 and up five basis points compared to fourth quarter 2014.

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 March 13, 2015, there were 4,352,203 shares of common stock issued and outstanding. The Company’s common stock trades on the NASDAQ capital market under the symbol “PBHC.” At March 31, 2015, the Company and subsidiaries had total consolidated assets of $606.8 million, total deposits of $483.2 million and shareholders’ equity of $69.5 million.

During the first quarter of 2015, the FitzGibbons Agency, LLC., completed its integration of the Huntington Agency of Baldwinsville, New York into the FitzGibbons family of insurance agencies. This acquisition will provide regional expansion and diversification and additional revenue to the agency.

Forward-Looking Statements

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.

For Sale: 27 Oxbow, Oswego

27 Oxbow – Oswego, NY 13126

$110,000

Beautiful 3-4 bedroom townhouse in the City of Oswego

27Oxbow-OutsideFront

3 floors of living space in this beautifully maintained townhouse off of Burden Drive in the City of Oswego.

3-4 bedrooms, hardwood floors, gas fireplace, living area open to kitchen and dining room, breakfast nook, plenty of storage space, very nice amenities throughout!

 

See more photos and information!

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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

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FitzGibbons Agency Partners with Baldwinsville-based Huntington Agency

OSWEGO, NY – FitzGibbons Agency, an Oswego-based Independent Insurance Agency, and a subsidiary of Pathfinder Bank, is completing its integration of the Huntington Agency of Baldwinsville, effective into the FitzGibbons family of insurance agencies, according to John FitzGibbons, agency president.

Huntington Agency was founded in 1966 by Paul Huntington, and purchased by current owner, William Connell Jr. in 1978. Its office is located at 6 Southgate Road, and provides auto, home, business and recreational insurance. The agency represents National Grange, Travelers, and Main Street America.

“We are very excited to partner with the Huntington Agency, and are looking forward to expanding our products and services into the Onondaga County market,” said FitzGibbons. “Bill and his staff have built a very strong reputation over the years at his agency, and his customers will continue to be provided with the level of service they have come to expect from Huntington.”

According to FitzGibbons, both Connell, and long-time staff member Sandra Miller will continue to oversee the day-to-day operations of the agency and have been recently joined by new staffer and Syracuse native Marty Byrne.

Byrne, a graduate of Niagara University, most recently worked as a commercial lines marketing representative and account manager with Brown & Brown Empire State in Syracuse. He will work primarily in a business development and client relationship role at the Huntington Agency.

“Marty is a Syracuse guy, a Bishop Ludden-grad, who knows the market, and will work with Bill to develop new business opportunities, foster our customer base, and truly help the agency reach its full potential in Onondaga County,” said FitzGibbons.

“We are excited to introduce the new products and services to the market, and we are presently in the process of fully integrating our FitzGibbons Agency technology and platform over to the Huntington Agency,” he added.

Pathfinder Bank is a New York chartered savings bank headquartered in Oswego. The bank has eight full service offices located in Oswego County and northern Onondaga County and a business banking office located in downtown Syracuse that opened in the fourth quarter of 2014. Through its subsidiary, Pathfinder Risk Management Company, Inc., the bank owns a 51% interest in the FitzGibbons Agency, LLC.

Fitzgibbons Agency is an Independent Insurance Agency, founded in 1922 by George FitzGibbons. The agency is located at 44 E.Bridge St., Suite 1 in Oswego and provides both personal and business insurance products.  The agency represents Travelers, Hartford, Adirondack Insurance, Harleysville, Progressive and many other insurance carriers. They also offer employer-based programs for health benefits through carriers such as Excellus, UnitedHealthcare, MVP, Aetna, MetLife as well as Aflac and Colonial

For additional information call (315) 342-5000 or visit them online at www.askfitz.com.

McManus Named AVP/Computer Operations Manager at Pathfinder

OSWEGO, NY – Joseph McManus has been named assistant vice president/computer operations manager at Pathfinder Bank, according to Dan Phillips, chief information officer.

“We are very pleased to recognize Joseph with this promotion,” said Phillips. “With his leadership skills, background in Information Science and knowledge of our IT Department, Joseph is a significant benefit to our organization.”

Joe McManus

Joseph McManus

McManus’ duties as computer operations manager will be to continue to maintain and improve network security as well as manage and maintain the banks network infrastructure.  He also has a key role in providing end-user support and mainframe operations.

McManus has a Baccalaureate of Arts degree from the State University of New York at Oswego in Information Science. He has more than 15 years of experience in Information Technology, previously working as senior network technician for Oswego County National Bank and as a senior information systems architect for PCC Information Services.

McManus began his career with Pathfinder Bank in 2008 as a computer operations manager.

McManus resides with his wife and son in Oswego. In his spare time, Joe is a deacon at the Oswego Alliance Church and is working towards his Blackbelt in TaeKwonDo. He is also the board president of Friends of the Library, a Pathfinder Bank Money Smart Educator for the “Keeping Safe in an Electronic World” curriculum, and a volunteer network administrator for Oswego Community Christian School.

In 2013, he was named one of Oswego County’s “40 under 40” and also graduated from Leadership Oswego County.

Pathfinder Bank is a New York State chartered savings bank headquartered in Oswego, whose deposits are insured by the Federal Deposit Insurance Corporation. The bank has nine branch offices located in Oswego, Fulton, Mexico, Lacona, Central Square, Cicero, and Syracuse.

Pathfinder Bancorp, Inc. Declares Dividend

Oswego, NY – Thomas W. Schneider, President/CEO of Pathfinder Bancorp, Inc., the bank holding company of Pathfinder Bank, (NASDAQ Capital Market; symbol: PBHC, listing: PathBcp) has announced that the Company has declared a cash dividend of $.03 per share on the Company’s common stock relating to the fiscal quarter ending March 31, 2015. The dividend will be payable to all shareholders of record on April 15, 2015 and will be paid on May 4, 2015.

About Pathfinder Bancorp, Inc.

Pathfinder Bancorp, Inc. is the bank holding company of Pathfinder Bank, a New York chartered savings bank headquartered in Oswego, New York. The Bank has nine full service offices located in its market areas consisting of Oswego and Onondaga County. 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.

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Warren E. Baker, 90

A funeral mass for Warren “Bunk” E. Baker, 90 of Pleasant Avenue in Ogdensburg, will be held on Friday (May 29) at 11 a.m. at St. Mary’s Cathedral with Rev. Scott Belina officiating.

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William M. DuBois – Graveside Services

Graveside services for William M. DuBois, who passed away on Thursday December 11, 2014, will be on Friday June 5, at 2 p.m. in Mount Pleasant Southside Cemetery.

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NYDKS Qualifying Spots Up for Grabs at Oswego Kartway Friday Night

The first of three NYDKS qualifying events at Oswego Kartway will take place this Friday with the running of the Spring Championship at the ‘Bullring.’ Oswego Kartway has teamed with the state wide New York Dirt Kart Series (NYDKS), to conduct the first of three state series qualifying events Friday night for drivers in Jr. Purple Clone, Sr. Blue Clone, Clone Light, Clone Heavy, as well as Stock Light.

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Oswego Cinema 7 5/29/2015 – 5/29/2015

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Ritchie Releases 2015 Farmers’ Market Guide

With the harvest season for many favorite locally grown fruits and vegetables just around the corner, State Senator Patty Ritchie released her 2015 Farmers’ Market Guide, an annual publication that aims to connect consumers with fresh, healthy foods.

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