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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 (NASDAQ: PBHC) reported a 37% increase in net income for Q1 2022, totaling $3.0 million or $0.49 per share, compared to $2.2 million in Q1 2021. Total revenue rose 6.4% to $11.1 million. While total loans decreased to $855.6 million, excluding PPP loans, they grew 7.2% year-over-year. The net interest margin expanded to 3.06%. The company raised its dividend by 28.6% to $0.09. Despite increasing noninterest expenses by 9.3% due to inflation, asset quality remains strong, with nonperforming loans at 0.81%.
Pathfinder Bancorp, Inc. (NASDAQ: PBHC) announces the appointment of James A. Dowd as Interim President and CEO, effective immediately, following Thomas W. Schneider's resignation due to health concerns. Schneider transitions to Director of Capital Markets and Corporate Strategy. Dowd has been with Pathfinder since 1994, previously serving as CFO and COO, and has significantly contributed to the bank's expansion and increased deposits. Total assets grew from $216 million in 1999 to nearly $1.3 billion by the end of 2021, reflecting strong growth under Schneider's leadership.
Pathfinder Bancorp has declared a cash dividend of $0.09 per share on common and non-voting stock for Q1 2022, marking a 28.6% increase from the previous quarter's dividend. The dividend will be payable to shareholders of record on April 22, 2022, and distributed on May 6, 2022. This reflects the company's commitment to returning value to shareholders amid a stable operational framework, as it continues its services through its ten full-service branches in central New York.
Pathfinder Bancorp (NASDAQ: PBHC) reported record net income of $12.4 million for 2021, up from $7.0 million in 2020. The fourth quarter 2021 earnings reached $3.9 million, or $0.64 per share, a significant increase compared to $1.9 million, or $0.33 per share, in Q4 2020. Total revenues rose 16.8% to $44.5 million, driven by a 21% increase in net interest income. Total assets grew to $1.28 billion, with deposits increasing to $1.06 billion. The Company recorded a $1.0 million benefit in its provision for loan losses, reflecting improved asset quality.
Pathfinder Bancorp, Inc. (NASDAQ: PBHC) has declared a cash dividend of $0.07 per share on common stock and a $0.07 cash dividend per notional share for warrants. The dividend is set to benefit shareholders of record by January 14, 2022 and will be distributed on February 4, 2022. Located in Oswego, New York, Pathfinder Bank operates ten full-service offices and is known for its insured deposits through the FDIC.
Pathfinder Bancorp reported a significant increase in third quarter 2021 net income of $3.4 million, up from $1.5 million in the same period last year, reflecting a 15.7% growth in total revenue to $11.3 million. Year-to-date net income rose 70% to $8.5 million. Assets totaled $1.26 billion, with total deposits increasing 5.1% to $1.05 billion. Nonperforming loans improved to 1.11% from 2.58%. The company declared a cash dividend of $0.07 per share, yielding 1.7%. Despite challenges, the company aims to sustain performance into 2022 amidst economic recovery and potential inflation risks.
Pathfinder Bancorp, Inc. (NASDAQ: PBHC) has declared a cash dividend of $0.07 per share on its common stock for the fiscal quarter ending September 30, 2021. The dividend will also apply to notional shares for issued warrants. Shareholders of record by October 15, 2021 will receive the dividend on November 5, 2021. Pathfinder Bank, headquartered in Oswego, NY, operates multiple branches in the region and is federally insured. This announcement reflects the company's ongoing commitment to returning value to its shareholders.
Pathfinder Bancorp (NASDAQ: PBHC) reported a significant increase in net income, reaching $3.0 million for Q2 2021, up from $1.8 million in Q2 2020. Total revenue rose by 27% to $11.6 million, driven by a 33.7% increase in net interest income. For the first six months of 2021, net income totaled $5.2 million, a 46.2% increase from 2020. The bank's assets grew to $1.26 billion, with total deposits increasing by 6.3% year-over-year. Despite a rise in noninterest expenses, the company converted preferred stock into non-voting common stock, enhancing financial structure and transparency.
Pathfinder Bancorp has announced a cash dividend of $0.07 per share on both voting and non-voting common stock, alongside $0.07 per notional share for issued warrants for the fiscal quarter ending June 30, 2021. Shareholders of record as of July 16, 2021, will receive the payment on August 13, 2021. The bank operates ten full-service offices in Oswego and Onondaga County, and its deposits are FDIC insured.
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