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Pathfinder Bancorp, Inc. announced the retirement of Chief Financial Officer Walter F. Rusnak, who will be succeeded by Justin K. Bigham. Rusnak will retire on June 28, 2024, after over 40 years in finance, while Bigham brings over 25 years of experience to the role. Rusnak's departure comes after significant contributions to the company's growth and strategic initiatives, including acquisitions and financial reporting enhancements.
Pathfinder Bancorp, Inc. reported first quarter 2024 net income of $2.1 million, a decrease from the prior year. The bank showed strong growth in interest and dividend income but faced challenges with increasing interest expenses. The company remains focused on strategic growth and prudent expense management, aiming to enhance shareholder value amidst economic uncertainties.