Pathfinder Bancorp, Inc. reported a net income of $626,000 for the third quarter of 2025, a significant recovery from a net loss of $4.6 million in the same period last year. This turnaround is attributed to a reduced provision for credit losses, which fell to $3.5 million from $9.0 million in the prior year, alongside a decrease in net charge-offs. The company’s net interest income before the provision for credit losses was $11.6 million, a slight decline of 1.1% from the previous year, primarily due to a decrease in interest and dividend income, which dropped by $1.5 million to $19.7 million.
Total assets for Pathfinder Bancorp decreased marginally by $2.6 million, or 0.2%, to $1.47 billion as of September 30, 2025, compared to the end of 2024. This decline was mainly driven by reductions in residential and consumer loans, which decreased by 6.5% to $356.2 million. However, commercial loans saw a slight increase of 0.7%, totaling $543.7 million. The company’s total investment securities rose by $9.2 million, reflecting a strategic focus on enhancing its securities portfolio.
On the liabilities side, total liabilities decreased by $7.5 million to $1.35 billion, primarily due to a significant reduction in total borrowings, which fell by 35.6% to $56.7 million. In contrast, total deposits increased by $20.6 million, or 1.7%, to $1.23 billion, with a notable rise in interest-bearing deposits. The company’s core deposits, which are considered more stable, accounted for 78.4% of the total deposit base.
Pathfinder Bancorp's shareholders' equity increased by 4.0% to $126.3 million, bolstered by the net income recorded during the quarter and an increase in additional paid-in capital. The company declared a cash dividend of $0.10 per share, consistent with the previous quarter, reflecting its commitment to returning value to shareholders. Looking ahead, the company anticipates continued focus on enhancing asset quality and managing credit risk, particularly in light of the recent increase in nonperforming loans, which rose to $23.3 million, representing 2.6% of total loans.
About Pathfinder Bancorp, Inc.
Pathfinder Bancorp, Inc. is a Maryland-based bank holding company that owns Pathfinder Bank, a community-focused financial institution serving individuals, small to mid-size businesses, and municipalities in New York's Oswego and Onondaga Counties. The bank offers a range of deposit, loan, and investment services, emphasizing commercial real estate, small business, and residential lending, with a competitive edge in local market knowledge and community involvement.
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