Pathfinder Bancorp in Oswego, N.Y., has exited the Small Business Lending Fund program.
The $623 million-asset Pathfinder redeemed all its outstanding preferred stock for about $13 million, according to a Wednesday regulatory filing. It funded the redemption with proceeds from a recent stock offering and a subordinated debt issuance, as well as retained earnings.
Pathfinder originally issued the shares to the Treasury Department in September 2011. Last year Pathfinder completed a
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A pair of community banks have lined up funding through separate subordinated-debt agreements with a firm in the Cayman Islands.
October 6 -
Pathfinder Bancorp in Oswego, N.Y., could raise nearly $27 million through a second-step conversion.
August 18 - New York
First Niagara Financial Group in Buffalo, N.Y., which is being sold to KeyCorp, cited restructuring and merger-related charges in reporting a 30% profit decline.
February 5
