Pathfinder

Pathfinder Bancorp, Inc. is a bank holding company. The Company's primary business is its investment in Pathfinder Bank (the Bank), which is owned by the Company. The Bank is a New York-chartered stock savings bank, which is engaged in the business of attracting deposits from the general public in the Bank's market area, and investing such deposits, together with other sources of funds, in loans secured by residential real estate, commercial real estate, small business loans and consumer loans. The Bank invests a portion of its assets in securities issued by the United States Government and its agencies and sponsored enterprises, state and municipal obligations, corporate debt securities, mutual funds and equity securities. The Bank also invests in mortgage-backed securities primarily issued or guaranteed by United States Government sponsored enterprises and collateralized mortgage obligations. The Bank's principal sources of funds are deposits.