Quarterly ResultApr 29, 2026, 04:40 PM
PBHC Q1 EPS $0.38; Net Income $2.4M; NIM Expands
AI Summary
Pathfinder Bancorp, Inc. reported net income of $2.4 million, or $0.38 per diluted share, for the first quarter of 2026, a significant improvement from a net loss of $5.6 million in the prior quarter. The company saw sequential-quarter net interest margin expansion to 3.10% and a provision benefit of $168,000, reflecting improved credit performance. Pathfinder also achieved growth in core deposits and commercial loans, while maintaining a strong allowance for credit losses.
Key Highlights
- PBHC Q1 2026 net income attributable to common shareholders was $2.4 million, or $0.38 per diluted share.
- Net interest margin (NIM) expanded to 3.10% in Q1 2026, up from 3.09% in Q4 2025.
- The company reported a $168,000 provision benefit in Q1 2026, compared to an $11.2 million provision expense in Q4 2025.
- Commercial loans grew to $549.5 million, or 61.4% of total loans, at March 31, 2026.
- Core deposits increased to $993.7 million, representing 82.01% of total deposits, at March 31, 2026.
- A quarterly cash dividend of $0.10 per share was declared.
- Allowance for credit losses (ACL) was $29.0 million, or 3.24% of total loans, at March 31, 2026.