Pathfinder Bancorp, Inc.

Pathfinder Bancorp, Inc. held its 2026 Annual Meeting of Shareholders on June 4, 2026. At the meeting, shareholders approved all proposals, including the election of four directors: David Ayoub, William Barclay, James Dowd, and John Sharkey, each for a three-year term. Additionally, the appointment of Bonadio & Company, LLP as the independent registered public accounting firm for the year ending December 31, 2026, was ratified.

Pathfinder Bancorp, Inc. held its Annual Meeting of Shareholders on June 4, 2026. The meeting included the election of directors and ratification of the independent auditor. The accompanying presentation detailed the company's strategic priorities, including profitable growth, strengthening credit risk management, and enhancing operating discipline. Pathfinder highlighted its strong capital and liquidity position, and its strategic alignment with the significant economic development occurring in Central New York, driven by major investments in the semiconductor and technology sectors.

Pathfinder Bancorp, Inc. announced a Fourth Amendment to its Registration Rights Agreement with Castle Creek Capital Partners VII, L.P. This amendment, effective May 4, 2026, extends the deadline for the company to file a resale registration statement for securities sold in a 2019 private placement. The new "Filing Deadline" is now May 8, 2027, which is the eighth anniversary of the original closing date. This marks the fourth annual extension agreed upon by the parties since the initial deadline of May 8, 2023.

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.

Pathfinder Bancorp, Inc. reported net income of $2.4 million, or $0.38 per diluted share, for Q1 2026, a significant improvement from a $5.6 million net loss in Q4 2025. The quarter saw a $168,000 provision benefit due to improved credit performance and lower net charge-offs. The company also achieved sequential-quarter net interest margin expansion to 3.10% and experienced growth in core deposits and commercial loans. A quarterly cash dividend of $0.10 per share was declared.