Pursuant to the terms of the Securities Purchase Agreement, Castle Creek is entitled to have one representative appointed to the Company's Board of Directors
The primary business of the Company is its investment in Pathfinder Bank (the "Bank"), a New York State chartered commercial bank, which is 100% owned by the Company.
We also participate in reciprocal deposit services for our customers through the Certificate of Deposit Account Registry Services ("CDARS") and Insured Cash Sweep ("ICS") networks
The Bank entered into an amortizing swap transaction with an initial notional amount of $100.0 million whereby the Bank will receive the 3-month SOFR rate monthly, based on the notional amount of the…
We also participate in reciprocal deposit services for our customers through the Certificate of Deposit Account Registry Services ("CDARS") and Insured Cash Sweep ("ICS") networks
The primary business of the Company is its investment in Pathfinder Bank (the "Bank"), a New York State chartered commercial bank, which is 100% owned by the Company.
On November 13, 2020, the Company entered into an agreement (the "Exchange Agreement") with Castle Creek providing for the exchange of 225,000 shares of the Company's Common stock owned by Castle Cre…