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Pathfinder Bancorp Inc (NASDAQ: PBHC) is the holding company for Pathfinder Bank, a commercial bank that has been serving the Central New York community since its establishment in 1859. The bank is deeply rooted in its customer-focused approach to providing financial services, with a mission to foster strong relationships with both individuals and businesses within the communities it serves. Pathfinder Bank operates nine branches, including its latest location on West Fayette Street in downtown Syracuse, and offers a range of online banking services through its website, www.pathfinderbank.com.
Pathfinder Bank attracts deposits from the general public and invests these funds in various types of loans including residential real estate, commercial real estate, small business loans, and consumer loans. In addition, the bank invests in debt securities issued by the United States Government, its agencies, sponsored enterprises, state and municipal obligations, corporate debt securities, mutual funds, and equity securities. The principal source of income for Pathfinder Bank is interest on loans and investment securities.
Recent achievements for Pathfinder Bancorp Inc include the effective management of their deposit base and net interest margins, along with strategic growth and prudent expense management. These efforts have helped the bank maintain stability and resilience despite economic challenges. Pathfinder Bancorp reported first quarter 2024 net income available to common shareholders of $2.1 million, or $0.34 per basic and diluted share, and total revenue of $11.1 million for the same period.
The bank values and prioritizes local decision-making, ensuring that financial solutions are tailored to the unique needs of the communities they serve. As an equal housing lender and member of the Federal Deposit Insurance Corporation (FDIC), Pathfinder Bank continues to build trust and offer reliable financial services to its customers.
Pathfinder Bancorp Inc also engages with capital markets to enhance investor relations and equity research through partnerships with firms like Stonegate Capital Partners. These efforts reflect the company's commitment to enhancing shareholder value and transparency.
Pathfinder Bancorp, Inc. has declared a cash dividend of $0.09 per share on its voting and non-voting common stock, as well as on issued warrants. This dividend pertains to the fiscal quarter ending March 31, 2023, with record shareholders receiving payment on May 19, 2023. The announcement was made by President and CEO James A. Dowd, emphasizing the bank's commitment to delivering shareholder value.
Pathfinder Bank, headquartered in Oswego, New York, operates ten full-service offices and is a wholly-owned subsidiary of Pathfinder Bancorp, Inc. Its deposits are federally insured.
Pathfinder Bancorp, Inc. (NASDAQ:PBHC) has named James A. Dowd as President and CEO, effective immediately. Dowd has served in an interim capacity since April 2022 and will be nominated for election to the Board on June 1, 2023. The Board expressed confidence in Dowd's leadership abilities, highlighting his experience in guiding the company through economic challenges while focusing on expense management and strategic investments. Dowd emphasized the bank's strong financial performance and healthy capital position as advantageous for future growth. Pathfinder Bank operates eleven full-service offices across Oswego and Onondaga Counties in New York.
Pathfinder Bancorp, Inc. (NASDAQ: PBHC) has appointed James A. Dowd as President and CEO, effective immediately. Dowd, who has served in an interim capacity since April 2022, will also be nominated for election to the Board at the annual meeting on June 1, 2023. The Chairman, Chris R. Burritt, expressed confidence in Dowd’s leadership abilities amidst economic challenges, emphasizing his role in effective expense management and future investments. Dowd, who joined the Bank in 1994, aims to enhance community trust and financial performance. Pathfinder Bank operates in Central New York, offering full-service banking through eleven offices.
Pathfinder Bancorp (NASDAQ: PBHC) reported fourth quarter 2022 net income of $3.5 million ($0.58/share), down 9% from $3.9 million in Q4 2021. Full-year net income rose to $12.9 million ($2.13/share), a 4.2% increase from 2021. Q4 total revenue reached $13 million, up 17% year-over-year, with full-year revenue at $47.3 million, a 6.3% increase. Total loans grew by 7.9% to $897.8 million, while total deposits increased by 6.6% to $1.13 billion. Credit quality remained strong, with nonperforming loans stable at 1.00%. A cash dividend of $0.09/share was declared, yielding 1.9%. The company's focus in 2023 will be on expense management and growth initiatives.
Pathfinder Bancorp, Inc. (NASDAQ: PBHC) has declared a quarterly cash dividend of $0.09 per share for both voting and non-voting common stock, as well as a $0.09 per notional share for issued warrants. This dividend, related to the fiscal quarter ending December 31, 2022, is set to benefit shareholders of record by January 17, 2023, with payment scheduled for February 10, 2023. Pathfinder Bank, a subsidiary of Pathfinder Bancorp, is a New York-chartered bank with multiple full-service offices in Oswego and Onondaga Counties.
Pathfinder Bancorp (PBHC) reported net income of $3.2 million for Q3 2022, down from $3.4 million in Q3 2021. Revenue increased by 5.3% to $11.9 million. Total loans reached $886.2 million, rising 16.4% excluding PPP loans. Total deposits also increased by 12.8% to $1.18 billion. Net interest income rose by 10.1% to $10.8 million, with a net interest margin of 3.32%. However, a spike in loan loss provisions to $710,000 was noted. The Board declared a quarterly dividend of $0.09 per share, reflecting an increase of 28.6% compared to the previous year.
Pathfinder Bancorp, Inc. (NASDAQ: PBHC) has declared a cash dividend of $0.09 per share on both voting and non-voting common stock for the fiscal quarter ending September 30, 2022. This dividend will be payable to shareholders of record on October 14, 2022, with payment scheduled for November 11, 2022. The company, headquartered in Oswego, operates ten full-service offices in Oswego and Onondaga County, along with one limited purpose office in Oneida County.
Pathfinder Bancorp reported a net income increase of 8.74% to $3.3 million for Q2 2022, with earnings per share at $0.54. Total revenue decreased by 3.2% to $11.3 million. Interest-earning assets rose to $1.28 billion, a 7.53% increase from the previous year. Total loans grew by 10.3% year-over-year, while deposits increased by 10.29% to $1.14 billion. The quarterly cash dividend was raised by 28.6% to $0.09 per share. Despite these positive metrics, net interest income declined by 2.3%, and noninterest income fell by 9.6%. Asset quality remained strong, with no significant charge-offs reported.
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