SOURCE: Pathfinder Bancorp, Inc.

March 31, 2014 14:18 ET

Adam C. Gagas Elected to Pathfinder Bank Board of Directors

OSWEGO, NY--(Marketwired - Mar 31, 2014) - Adam C. Gagas has been elected to the Board of Directors of Pathfinder Bank, according to Chris R. Burritt, Chairman of the Board.

The election was effective as of the March 17, 2014 Pathfinder Bank Board Meeting.

Mr. Gagas is founder and CEO of Breakwall Asset Management, LLC, a New York State registered investment advisor located in Oswego, New York.

"We are very pleased to announce the election of Adam to our Board of Directors," said Burritt. "He provides our Board with more than 15 years of experience in global financial markets, as well as expertise in asset management and property development."

"Adam and the Gagas Family have been instrumental in the growth of Pathfinder Bank for decades, and we value the commitment they have always maintained for our Bank's mission and strategic direction."

Adam's father, Chris Gagas, previously served as the Bank's President and CEO, as well as Chairman of the Board for 18 years.

Prior to establishing Breakwall Asset Management, Gagas was an analyst on teams managing multi-billion dollar portfolios at Skandia Asset Management and Principal Global Investors in New York City. He was awarded an Alfa Fellowship and completed a yearlong professional placement as an institutional investment analyst at Alfa Capital in Moscow, Russia. He is also the owner/operator of Gagas Realty Corporation, a multi-property commercial real estate holding company. In addition, he is an adjunct instructor of Corporate Finance in the SUNY Oswego School of Business.

Mr. Gagas, who resides in Oswego, earned a BA from Hobart College with majors in Economics and Russian Studies, and an MBA with a concentration in Finance from the Leonard N. Stern School of Business at New York University. His extensive community involvement includes serving as Treasurer of Oswego Health, chair of that organization's Audit and Investment committees, and as a member of the Executive committee. Mr. Gagas is also a board member of Oswego's historic Riverside Cemetery, and has previously held leadership positions with the Oswego YMCA and Oswego Opera Theater.

Pathfinder Bank is a New York State chartered savings 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, (NASDAQ: PBHC) (listing: PathBcp). The Bank has eight full-service offices located in Oswego, Fulton, Mexico, Lacona, Central Square, and Cicero. The company reported total assets of $503.8 million and total shareholders' equity of $42.7 million for the period ending December 31, 2013.

Contact Information

  • Contact:
    Thomas W. Schneider
    President and CEO
    (315) 343-0057

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