The Bank Slate


Pathfinder in NY adds Castle Creek exec to its board

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.

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