Business Context and Reporting Period
This Form 8-K Current Report was filed by Pathfinder Bancorp, Inc. on January 23, 2019. The filing reports a corporate governance event regarding the appointment of a new Senior Vice President and Chief Financial Officer.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
The primary material change reported is the appointment of Walter F. Rusnak as Senior Vice President and Chief Financial Officer, effective immediately on January 23, 2019. Mr. Rusnak succeeds James A. Dowd in the CFO role. Mr. Dowd will continue to serve as Executive Vice President and Chief Operating Officer.
Management Commentary and Risks
Management stated that the appointment was made with the full support of Mr. Dowd, recognizing his expanding roles as COO and the capabilities of Mr. Rusnak. Mr. Rusnak brings over 35 years of banking experience, holds CPA and CGMA certifications, and previously served as First Vice President of Finance and Accounting at the company since May 2018. No specific risks, contingencies, or unusual items were disclosed in this filing.
Investor Verification Checklist
- Verify the effective date of Walter F. Rusnak's appointment as CFO (January 23, 2019).
- Confirm that James A. Dowd remains in his role as Executive Vice President and Chief Operating Officer.
- Review Mr. Rusnak's prior tenure at Pathfinder Bank (joined August 2015, promoted to First VP in May 2018).
- Note that this filing contains no financial results; refer to the most recent 10-Q or 10-K for financial metrics.