SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
Form
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported): April 28, 2009
Pathfinder
Bancorp, Inc.
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(Exact
name of registrant as specified in its charter)
Federal 000-23601 16-1540137
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(State or
other jurisdiction (Commission File
No.) (I.R.S. Employer
of
incorporation) Identification
No.)
Registrant's
telephone number, including area code: (315) 343-0057
--------------
Not
Applicable
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(Former
name or former address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
[ ]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
[ ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
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Section 8
– Other Events
Item
8.01
News
Release:
CONTACT: Thomas
W. Schneider, President & CEO, (315) 343-0057
Pathfinder
Bancorp, Inc. Declares First Quarter Dividend
OSWEGO, New York (April 28, 2009) -
Thomas W. Schneider, President/CEO of Pathfinder Bancorp, Inc., the
mid-tier holding company of Pathfinder Bank, (NASDAQ SmallCap Market; symbol:
PBHC, listing: PathBcp) has announced that the Company has declared a cash
dividend of $.03 per share on the Company’s common stock relating to the fiscal
quarter ending March 31, 2009. The dividend will be payable to all
shareholders of record on May 15, 2009 and will be paid on May 29,
2009.
The
current dividend level represents a 71% decrease from the fiscal year 2008
dividend level. “The Board of Directors and management of the Company
believe that it is in the best interest of the shareholders to conserve capital
at this time”, said Schneider. “We also feel strongly that as we move
through the current economic cycle, there will be opportunities to deploy
capital that will enhance the value to our shareholders in the
future. The Company remains committed to maintaining its strong
capital position and we are pleased with the continued strong earnings
performance during the first quarter of 2009,” he added.
About Pathfinder Bancorp,
Inc.
Pathfinder
Bancorp, Inc. is the mid-tier holding company of Pathfinder Bank, a New York
chartered savings bank headquartered in Oswego, New York. The Bank
has seven full service offices located in its market area consisting of Oswego
County. Presently, the only business conducted by Pathfinder Bancorp,
Inc. is the 100% ownership of Pathfinder Bank and Pathfinder Statutory Trust
I.
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 earnings 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, changes in interest rates, 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.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned, hereunto
duly authorized.
PATHFINDER BANCORP, INC.
Date: April
28,
2009 By: /s/
Thomas W. Schneider
-------------------------------------
Thomas
W. Schneider
President
and Chief Executive Officer