Pathfinder Bancorp Q3 earnings reach $2.1m as credit costs weigh
Key points
- Pathfinder Bancorp reported third-quarter net income of $2.1 million, with diluted EPS of $0.32 compared with $0.10 a year earlier.
- Net charge-offs reached $4.3 million, while the allowance for credit losses stood at $22.7 million, representing 2.60% of loans.
- Pathfinder expects its commercial real estate loan pipeline to begin funding in the fourth quarter and declared a regular $0.10-per-share dividend.
Pathfinder Bancorp (NASDAQ:PBHC) reported third-quarter 2026 net income of $2.1 million, compared with $0.7 million a year earlier, while diluted earnings per share increased to $0.32 from $0.10.
Net interest income declined 7.7% year over year to $10.7 million, although it increased 1.7% from the second quarter, while net interest margin fell to 3.07%.
The company reported that net charge-offs totalled $4.3 million during the quarter, with the losses fully covered by previously established specific reserves.
The allowance for credit losses stood at $22.7 million, representing 2.60% of total loans, while loans declined to $873 million and deposits fell to $1.16 billion from the previous quarter.
Pathfinder expects its new commercial real estate loan pipeline to begin generating funded loans in the fourth quarter and declared a regular dividend of $0.10 per share, payable November 6, 2026.
Meanwhile, noninterest expense increased to $9.4 million, while the efficiency ratio deteriorated to 78.13%, indicating higher operating expenses relative to revenue.
Pathfinder Bancorp provides banking and financial services through its community banking operations, with commercial real estate lending, deposits and other loan products forming part of its business.
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