Earnings Releases·Nov 2, 2026, 8:30 AM ET

Pathfinder Bancorp, Inc. — Third Quarter 2026 Earnings Summary

Net income declined to $2.1 million ($0.32/share) in Q3 2026 from $2.7 million ($0.42/share) in Q2 2026 and $626,000 ($0.10/share) in Q3 2025, driven by a 7.7% year-over-year drop in net interest income to $10.7 million and a rise in net charge-offs to $4.3 million.
The efficiency ratio worsened to 78.13% in Q3 2026 from 74.26% in Q2 2026 and 68.78% in Q3 2025, while noninterest expense increased to $9.4 million; management attributes the elevated ratio to temporary revenue weakness relative to the prior year.
Total loans and deposits contracted to $873.0 million and $1.16 billion respectively at quarter-end, down from $889.0 million and $1.17 billion in Q2 2026, as the company intentionally ran off higher-cost time and brokered deposits to lower the average cost of funds to 2.04%.
Management anticipates new commercial real estate loan production to begin funding in Q4 2026 following the hiring of seasoned commercial banking talent, while maintaining confidence in the core deposit franchise and market position despite a rising rate environment.
The Board declared a $0.10 per share cash dividend payable November 6, 2026, while the allowance for credit losses decreased to $22.7 million (2.60% of loans) from $26.9 million in Q2 2026, though specific reserves remain high at 57.4% of the total ACL.