Revenue during the quarter grew 7.81 percent to $6.07 million from $5.63 million in the previous year period. Net interest income for the quarter rose 13.57 percent over the prior year period to $5.50 million. Non-interest income for the quarter fell 3.80 percent over the last year period to $0.96 million.

Pathfinder Bancorp, Inc. has made provision of $0.39 million for loan losses during the quarter, up 85.24 percent from $0.21 million in the same period last year.

Net interest margin contracted 20 basis points to 2.97 percent in the quarter from 3.17 percent in the last year period.

"Our first quarter 2017 results illustrate a continued trend of solid organic growth in loans, deposits, revenue and earnings," said Thomas W. Schneider, president and chief executive officer. "We productively deployed our raised capital in an effective and balanced manner consistent with the needs of both business and individual customers within our Central New York market. Our asset quality metrics continue to reflect our risk management outcomes even as we continue to grow and diversify our loan portfolio along a consistent double digit trend. Consistent with our service and risk management responsibilities, we continue to invest a significant portion of revenue growth in developing our franchise and positioning the Bank to continue to respond to expansion opportunities."

Return on average assets was stable at 0.41 percent in the quarter, when compared with the last year period. At the same time, return on average equity increased 148 basis points to 5.39 percent in the quarter from 3.91 percent in the last year period.

Meanwhile, nonperforming assets to total assets was 0.54 percent in the quarter, down from 0.85 percent in the last year period.

Book value per share was $13.98 for the quarter, up 3.56 percent or $0.48 compared to $13.50 for the same period last year.