October 16, 2020

On October 14, 2020, Pathfinder Bancorp, Inc., Oswego, New York, the holding company for Pathfinder Bank, successfully completed a private placement of $25.0 million of its 5.50% Fixed-to-Floating Rate Subordinated Notes due 2030. The notes are intended to qualify as Tier 2 capital for regulatory purposes.

Luse Gorman served as legal counsel to Pathfinder Bancorp, Inc. in the offering. The Luse Gorman team consisted of Benjamin Azoff, Gregory M. Sobczak and Jeffrey Cardone.

Luse Gorman has extensive experience representing issuers in public offerings and private placements of capital stock, debt, and other securities. To learn more about our Capital Markets and Corporate Finance practice, please visit our website.