Financial Services Superintendent Maria T. Vullo today announced that the New York State Department of Financial Services (DFS) has approved a branch application for Pathfinder Bank, a New York State-chartered bank, to open a new branch in Liverpool, New York.

“The continued expansion of the New York State-chartered banking system is a testament to the value of engaging with local communities while providing strong fiscal and consumer protection through regulatory oversight by DFS,” said Superintendent Vullo. “DFS is committed to encouraging New York State-chartered banks to invest in regional economic growth and create a competitive financial services marketplace, and providing local residents access to financial services and employment opportunities.”

“Our commitment to Onondaga County continues to grow, as does the communities support of our presence,” says Tom Schneider, President and CEO of Pathfinder Bank. “Our business model involves full engagement and leadership in the communities we serve. We seek to assist customers and the community and strengthen the economic, social, civic, and cultural fabric of our communities. We recognize a need to provide our customers with more convenience and have been searching for a new location that would enhance our accessibility. Now that we have found one, we look forward to becoming an even more visible and vital part of the communities we serve, and we appreciate the work of DFS.”

DFS has approved Pathfinder Bank’s application to open a branch location at 3775 State Route 31 in Liverpool, Onondaga County. Pathfinder Bank is a New York State chartered commercial bank headquartered in Oswego, whose deposits are insured by the Federal Deposit Insurance Corporation. The Bank is a wholly owned subsidiary of Pathfinder Bancorp, Inc. The Bank has nine full service offices located in its market areas consisting of Oswego and Onondaga County.

New York currently has a total of 139 state chartered commercial banks, savings banks and bank holding companies, 16 state chartered credit unions, 84 foreign branches, 10 foreign agencies, and 27 representative offices, with assets totaling more than $1.8 trillion.