Pathfinder Bancorp, Inc.

Listed Company

PBHCCIK 0001609065NasdaqNon-AcceleratedSmaller ReportingState Commercial BanksMarylandFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-1.93M

Total Assets

$1.43B

Equity

$122.45M

Shares Out

4.75M

Op. Cash Flow

$11.68M

Business

Pathfinder Bancorp, Inc. is a bank holding company whose primary business is ownership of Pathfinder Bank and management of related financial subsidiaries. The company and its bank attract deposits and invest funds in commercial and residential real estate loans, commercial and consumer loans, mortgage‑backed, asset‑backed and government debt securities, and provide deposit, electronic banking and related financial services, along with subsidiary real estate development and insurance/risk-management activities. Key business units include the Bank, a non‑consolidated statutory trust issuing trust preferred securities, Whispering Oaks real estate development, and Pathfinder Risk Management. The company operates primarily in Oswego and Onondaga Counties in Central New York, with a limited presence in Oneida County, distributing services via branch offices, ATMs, electronic channels and reciprocal/brokered deposit networks.

Summary from filing dated 2025-03-31

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loans, including fees	54	53	47	38	37
Taxable	21	22	18	11	8
Tax-exempt	2	2	2	1	171,000
Dividends	241,000	620,000	573,000	229,000	309,000
Federal funds sold and interest earning deposits	450,000	793,000	295,000	149,000	9,000
Total interest and dividend income	77	78	68	51	46
Interest on deposits	28	30	23	7	5
Interest on short-term borrowings	2	4	3	310,000	10,000
Interest on long-term borrowings	387,000	733,000	850,000	564,000	1
Interest on subordinated debt	2	2	2	—	—
Total interest expense	32	37	29	—	—
Net interest income	44	41	39	41	38
Loans	16	11	3	3	—
Held-to-maturity securities	−81,000	−95,000	−98,000	0	—
Unfunded commitments	20,000	−38,000	37,000	0	—
Total provision for credit losses	16	11	3	3	—
Net interest income after provision for loan losses	28	30	36	39	37
Earnings and gains on bank owned life insurance	834,000	854,000	630,000	589,000	559,000
Losses on sales and redemptions of investment securities	−23,000	−71,000	62,000	−169,000	37,000
(Loss) gain on asset sale	−115,000	3	—	—	—
Net unrealized gains on marketable equity securities	1	197,000	−255,000	352,000	382,000
Gains on sales of loans and foreclosed real estate	402,000	187,000	181,000	137,000	313,000
Fair value adjustment to loans held-for-sale	−3	0	—	—	—
Disposition of assets	−37,000	−13,000	0	−250,000	201,000
Insurance agency revenue	0	1	1	1	1
Total noninterest income	2	10	5	6	6
Salaries and employee benefits	19	18	16	16	14
Building and occupancy	5	4	4	3	3
Data processing	3	2	2	2	3
Professional and other services	3	4	2	2	2
Advertising	459,000	604,000	671,000	905,000	1
FDIC assessments	604,000	916,000	885,000	606,000	874,000
Audits and exams	475,000	539,000	735,000	688,000	725,000
Amortization Expense	627,000	293,000	—	—	—
Insurance agency expense	0	1	1	906,000	825,000
Community service activities	70,000	130,000	200,000	267,000	220,000
Foreclosed real estate expenses	106,000	102,000	111,000	78,000	46,000
Other expenses	3	2	2	2	2
Total noninterest expenses	35	34	29	29	27
(Loss) income before provision for income taxes	−4	5	12	16	16
(Benefit) provision for income taxes	−2	332,000	2	3	3
Net income attributable to noncontrolling interest and Pathfinder Bancorp, Inc.	−2	5	9	13	13
Net income attributable to noncontrolling interest	0	1	129,000	101,000	103,000
Net income attributable to Pathfinder Bancorp Inc.	−2	3	9	13	12
Dividends per common share (Voting and Series A Non-Voting)	0.4	0.4	0.36	0.36	0.28

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	12	14	12	14	14
Interest-earning deposits	20	18	36	21	23
Total cash and cash equivalents	31	32	49	35	37
Available-for-sale securities, at fair value	277	269	259	192	191
Held-to-maturity securities, at amortized cost (fair value of $125,198 and $151,023, respectively)	130	159	179	179	161
Marketable equity securities, at fair value	6	4	3	2	677,000
Federal Home Loan Bank stock, at cost	3	5	9	6	4
Loans held-for-sale	6	0	—	—	—
Loans, net of deferred fees	897	919	897	—	—
Less allowance for credit losses	29	17	16	—	—
Loans receivable, net	867	902	881	882	820
Premises and equipment, net	18	19	18	18	22
Operating lease right-of-use assets	1	1	2	2	2
Finance lease right-of-use assets	16	17	4	4	0
Accrued interest receivable	6	7	7	6	5
Foreclosed real estate	137,000	0	151,000	221,000	0
Intangible assets, net	5	6	85,000	101,000	117,000
Goodwill	5	5	5	5	5
Bank owned life insurance	31	25	25	24	23
Other assets	23	25	22	26	16
Total assets	1,427	1,475	1,466	1,400	1,285
Interest-bearing	987	991	950	942	863
Noninterest-bearing	196	214	170	184	192
Total deposits	1,184	1,205	1,120	1,125	1,055
Short-term borrowings	44	61	126	60	13
Long-term borrowings	14	27	50	56	65
Subordinated debt	30	30	30	30	30
Accrued interest payable	424,000	546,000	2	975,000	106,000
Operating lease liabilities	1	2	2	2	2
Finance lease liabilities	16	17	4	4	596,000
Other liabilities	14	12	12	9	9
Total liabilities	1,304	1,353	1,346	1,288	1,175
Additional paid in capital	54	53	53	52	51
Retained earnings	73	78	76	2	61
Accumulated other comprehensive loss	−5	−9	−10	−12	−1
Total Pathfinder Bancorp, Inc. shareholders' equity	122	121	119	111	110
Total liabilities and shareholders' equity	1,427	1,475	1,466	1,400	1,285

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Deferred income tax expense	−4	−417,000	−367,000	139,000	481,000
Proceeds from sales of loans held-for-sale	13	6	6	8	9
Originations of loans held-for-sale	−13	−6	−6	−7	−8
Foreclosed real estate	0	−38,000	35,000	0	0
Loss on sale of premises and equipment	37,000	13,000	0	—	—
Loans	−402,000	−149,000	−216,000	−137,000	−313,000
Available-for-sale investment securities	5,000	139,000	−80,000	160,000	−19,000
Held-to-maturity investment securities	18,000	−68,000	18,000	9,000	−18,000
Marketable securities	−1	−197,000	255,000	—	—
Gain on sale of subsidiary, attributable to Pathfinder Bancorp, Inc.	0	−2	0	—	—
Depreciation	1	1	1	1	2
Amortization of mortgage servicing rights	5,000	−41,000	−38,000	−11,000	−5,000
Amortization of deferred loan fees and costs	23,000	−293,000	−268,000	385,000	2
Amortization of operating and finance leases, net	442,000	−224,000	−35,000	−372,000	19,000
Amortization of deferred financing fees from subordinated debt	48,000	193,000	181,000	170,000	163,000
Earnings on bank owned life insurance	−834,000	−86,000	−630,000	−589,000	−559,000
Net amortization of premiums and discounts on investment securities	47,000	−284,000	2	2	2
Net amortization of premiums on intangible assets	573,000	258,000	16,000	16,000	16,000
Stock based compensation and ESOP expense	985,000	247,000	462,000	626,000	617,000
Net change in accrued interest receivable	553,000	405,000	−1	−2	29,000
Net change in other assets and liabilities	−1	−3	2	4	117,000
Net cash inflows from operating activities	12	11	15	22	20
Purchase of available-for-sale securities	−58	−93	−99	−52	−157
Purchase of held-to-maturity securities	−17	−25	−14	−63	−44
Purchase of marketable securities	−508,000	−673,000	−2	−2	0
Purchase of Federal Home Loan Bank stock	−11	−15	−20	−16	−7
Proceeds from redemption of Federal Home Loan Bank stock	13	19	17	14	7
Proceeds from maturities and principal reductions of available-for-sale securities	51	78	20	19	52
Proceeds from maturities and principal reductions of held-to-maturity securities	30	41	28	27	50
Proceeds from sale of subsidiary	816,000	1	0	—	—
Available-for-sale securities	6	3	17	8	38
Held-to-maturity securities	16	5	288,000	2	4
Loans held-for-sale	3	0	—	—	—
Real estate acquired through foreclosure	0	167,000	320,000	0	—
Net change in loans	9	−31	−2	−66	−10
Acquisition of core deposit intangible asset	0	−6	0	—	—
Proceeds from sale of assets held-for-sale	0	3	—	—	—
Purchase of premises and equipment	−1	−2	−2	−2	−1
Net cash inflows (outflows) from investing activities	40	−22	−55	−131	−70
Net change in demand deposits, NOW accounts, savings accounts, money management deposit accounts, MMDA accounts and escrow deposits	28	92	−75	5	95
Net change in time deposits	−14	99	75	−26	−24
Net change in brokered deposits	−34	−106	−5	91	−12
Net change in short-term borrowings	−17	−65	65	48	8
Payments on long-term borrowings	−24	−34	−12	−18	−26
Proceeds from long-term borrowings	11	11	6	9	13
Proceeds from exercise of stock options	656,000	291,000	623,000	418,000	551,000
Cash dividends paid to common voting shareholders	−2	−2	−2	−2	−1
Cash dividends paid to common non-voting shareholders	−552,000	−538,000	−497,000	−469,000	−194,000
Cash dividends paid on warrants	−50,000	−49,000	−45,000	−43,000	−35,000
Change in noncontrolling interest, net	0	−761,000	176,000	239,000	80,000
Net cash outflows from financing activities	−53	−6	53	108	43
Change in cash and cash equivalents	−402,000	−17	13	−2	−6
Interest	32	39	27	2	7
Transfer of loans to loans held-for-sale	6	0	—	—	—
Real estate acquired in exchange for loans	137,000	0	333,000	252,000	0

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro