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): May 14, 2003
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
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NOT APPLICABLE
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(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
Item 5. Other Events
On May 14, 2003, Pathfinder Bancorp, Inc. issued the enclosed press release
regarding the amendment to the first quarter earnings release.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
EXHIBIT 99 PRESS RELEASE REGARDING ADJUSTED FIRST QUARTER EARNINGS
RELEASE DATED MAY 14, 2003
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: May 14, 2003 By: /s/ Thomas W. Schneider
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Thomas W. Schneider
President and Chief Executive
Officer
EXHIBIT INDEX
The following Exhibit is filed as part of this report:
Exhibit 99 Press Release
EXHIBIT 99
CONTACT: Thomas W. Schneider - President, CEO
James A. Dowd - Vice President, CFO
Telephone: (315) 343-0057
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PATHFINDER BANCORP, INC. ANNOUNCES ADJUSTED FIRST QUARTER EARNINGS
Oswego, New York, May 14, 2003 Pathfinder Bancorp, Inc., the mid-tier
holding company of Pathfinder Bank, (NASDAQ SmallCap Market; symbol: PBHC,
listing PathBcp) reported adjusted net income of $493,000, or $0.20 per share,
for the quarter ended March 31, 2003 compared to $551,000 million, or $0.22 per
share, for the quarter ended March 31, 2001.
Previously reported earnings has been reduced by $28,000, or 5.3%, as a result
of an adjustment in the provision for income taxes identified during the
preparation of quarterly financial reports. The adjustment increased income tax
expense for the quarter and had no impact on income from operations.
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.