Pathfinder Bancorp, Inc. Names James A. Dowd Interim President and CEO
April 14 2022 - 4:05PM
The Board of Directors of Pathfinder Bancorp, Inc. (the “Company”)
(NASDAQ: PBHC), the bank holding company of Pathfinder Bank (the
“Bank”), announced the appointment of James A. Dowd as Interim
President and Chief Executive Officer, effective immediately.
Thomas W. Schneider announced his resignation as President and
Chief Executive Officer and a member of the Board of Directors of
the organization. Mr. Schneider will simultaneously transition to a
new position as Director of Capital Markets and Corporate Strategy.
Contributing to the timing of the decision was Mr. Schneider’s
desire to seek a less time-consuming role due to recent health
issues and personal loss. Mr. Schneider will work to ensure a
smooth transition for the Company and intends to continue to
contribute to the success of the Company in his new role.
Mr. Dowd joined Pathfinder Bank in 1994, as Controller and has
since held many prominent roles within the organization. In 1999,
he was promoted to Chief Financial Officer followed by Chief
Operating Officer in 2017. Most recently, Mr. Dowd held the
position of Executive Vice President and Chief Operating
Officer. He has played a significant role in the physical
expansion of the Bank into Onondaga County, adding three
full-service brick-and-mortar branches and a loan production office
in Utica, in Oneida County. Additionally, in the five years
while acting as the Chief Operating Officer and overseeing branch
operations, the Bank’s deposits increased 73%, during which time
Mr. Dowd also played an integral role in the Bank’s increased brand
recognition and enhanced reputation in new markets.
Chris R. Burritt, Chairman of the Board, commented, “Jim’s
contributions to Pathfinder have demonstrated that his unique
combination of skills, experience, passion for the industry and
masterful ability to develop people have positioned him to lead the
Bank forward. His 28 years in the banking industry and
highly-regarded community leadership will continue to contribute to
the strategic execution of our growth initiatives. While Tom is
leaving his position as CEO, he will continue to play a vital role
in the Bank’s long-term success. Since Jim joined the Bank in 1994,
he has worked very closely with Tom and together they have helped
grow the organization into what we know today. Going forward, Tom
will serve as a valued resource for Jim.”
Mr. Dowd stated, “I am humbled, honored and excited to accept
the position of Interim President and CEO of Pathfinder. Tom
Schneider has done a remarkable job preparing the organization for
our next phase of growth. I am thankful he will continue to play an
important role in the ongoing success of the Bank. I am looking
forward to working with our executive team and our staff of
tremendously dedicated professionals to find ways to continue to
serve our customers and the communities we serve.”
Mr. Schneider has a long and successful tenure with Pathfinder,
having joined the Bank in 1988. Prior to his appointment as
President and CEO in 2000, he served as the Bank’s Chief Financial
Officer and Controller. Under his leadership, Pathfinder grew
significantly in asset size, geographic footprint and employee
base. Total assets grew from $216 million in 1999 to nearly $1.3
billion as of December 31, 2021. During that period, Pathfinder
grew from a five-branch footprint, located solely in Oswego County,
to its current ten-branch footprint which boasts significant
expansion into Onondaga County and a loan production office in
Oneida County. Mr. Schneider’s vision has also been the driving
force behind the Bank’s latest, in-progress, branch expansion in
the Southwest side of the city of Syracuse.
About Pathfinder Bancorp, Inc.Pathfinder Bank
is a New York State chartered commercial bank headquartered in
Oswego, whose deposits are insured by the Federal Deposit Insurance
Corporation. The Bank is a wholly-owned subsidiary of Pathfinder
Bancorp, Inc. (NASDAQ Capital Market; symbol: PBHC). The Bank has
ten full-service offices located in its market areas consisting of
Oswego and Onondaga County and one limited purpose office in Oneida
County.
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. These forward-looking statements are
generally identified by use of the words "believe," "expect,"
"intend," "anticipate," "estimate," "project" or similar
expressions, or future or conditional verbs, such as “will,”
“would,” “should,” “could,” or “may.” 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 performance 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, the COVID-19 pandemic,
changes in interest rates, inflation, 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.
CONTACTS:
Chris R. Burritt, Chairman of the Board – (315) 529-0258
James A. Dowd, Interim President and CEO – (315) 952-6873
Source: Pathfinder Bancorp, Inc.
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