Pathfinder Bancorp in Oswego, N.Y., has added an executive at a high-profile bank investor to its board.
The $1.4 billion-asset company said in a press release that Anthony Scavuzzo had joined its board. He is a managing principal at Castle Creek Capital in San Diego.
Castle Creek is a private equity firm that specializes in the community banking industry.
Castle Creek, under a May 2019 securities purchase agreement, was allowed to appoint a director to Pathfinder’s board as long as it owned at least 4.9% of the company’s stock.
Castle Creek provided written notice on June 22 that it wanted to appoint Scavuzzo to the boards.