Pathfinder Bancorp gets OK for $198M deposit branch acquisition from Berkshire Bank

Pathfinder Bancorp, Inc.

Received regulatory approvals from NY DFS and FDIC for Berkshire Bank East Syracuse branch.
Acquisition includes approximately $198M in deposits and $32M in consumer/residential loans.
Expects favorable IRR, EPS accretion, and reasonable tangible book value earn-back period.
Closing expected in Q3 2024; branch will be converted to Pathfinder Bank operations.

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