12:47 PM EDT, 06/13/2024 (MT Newswires) -- Pathfinder Bancorp ( PBHC ) said Thursday its Pathfinder Bank subsidiary has obtained regulatory approvals from the New York State Department of Financial Services and the Federal Deposit Insurance Corporation to finalize the acquisition of Berkshire Bank's East Syracuse, New York branch.

The agreement includes the transfer of the branch facility, approximately $198 million in deposits, and certain consumer and residential loans totaling around $32 million in outstanding balances, Pathfinder said.

The transaction is expected to close in Q3, after which the branch will operate as a Pathfinder Bank branch office, according to the company statement.

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