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Pathfinder Bancorp, Inc. reports recurring developments for its role as the bank holding company of Pathfinder Bank, a commercial bank serving Central New York depositors and borrowers. Company updates commonly cover operating results, net interest margin, core deposit trends, commercial loan growth, residential and commercial real estate lending, small business and consumer lending, and credit quality.
News also includes capital-return actions such as quarterly cash dividends on voting and non-voting common stock and the issued warrant. Recent operating themes include commercial loan portfolio review activity, reserve levels, asset-quality actions, funding from the deposit franchise, and changes in noninterest income following the sale of the insurance agency business.
Pathfinder Bancorp, Inc. (NASDAQ: PBHC) has declared a cash dividend of $0.09 per share on both voting and non-voting common stock for the fiscal quarter ending September 30, 2022. This dividend will be payable to shareholders of record on October 14, 2022, with payment scheduled for November 11, 2022. The company, headquartered in Oswego, operates ten full-service offices in Oswego and Onondaga County, along with one limited purpose office in Oneida County.
Pathfinder Bancorp reported a net income increase of 8.74% to $3.3 million for Q2 2022, with earnings per share at $0.54. Total revenue decreased by 3.2% to $11.3 million. Interest-earning assets rose to $1.28 billion, a 7.53% increase from the previous year. Total loans grew by 10.3% year-over-year, while deposits increased by 10.29% to $1.14 billion. The quarterly cash dividend was raised by 28.6% to $0.09 per share. Despite these positive metrics, net interest income declined by 2.3%, and noninterest income fell by 9.6%. Asset quality remained strong, with no significant charge-offs reported.
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Pathfinder Bancorp (NASDAQ: PBHC) reported a 37% increase in net income for Q1 2022, totaling $3.0 million or $0.49 per share, compared to $2.2 million in Q1 2021. Total revenue rose 6.4% to $11.1 million. While total loans decreased to $855.6 million, excluding PPP loans, they grew 7.2% year-over-year. The net interest margin expanded to 3.06%. The company raised its dividend by 28.6% to $0.09. Despite increasing noninterest expenses by 9.3% due to inflation, asset quality remains strong, with nonperforming loans at 0.81%.
Pathfinder Bancorp, Inc. (NASDAQ: PBHC) announces the appointment of James A. Dowd as Interim President and CEO, effective immediately, following Thomas W. Schneider's resignation due to health concerns. Schneider transitions to Director of Capital Markets and Corporate Strategy. Dowd has been with Pathfinder since 1994, previously serving as CFO and COO, and has significantly contributed to the bank's expansion and increased deposits. Total assets grew from $216 million in 1999 to nearly $1.3 billion by the end of 2021, reflecting strong growth under Schneider's leadership.
Pathfinder Bancorp has declared a cash dividend of $0.09 per share on common and non-voting stock for Q1 2022, marking a 28.6% increase from the previous quarter's dividend. The dividend will be payable to shareholders of record on April 22, 2022, and distributed on May 6, 2022. This reflects the company's commitment to returning value to shareholders amid a stable operational framework, as it continues its services through its ten full-service branches in central New York.
Pathfinder Bancorp (NASDAQ: PBHC) reported record net income of $12.4 million for 2021, up from $7.0 million in 2020. The fourth quarter 2021 earnings reached $3.9 million, or $0.64 per share, a significant increase compared to $1.9 million, or $0.33 per share, in Q4 2020. Total revenues rose 16.8% to $44.5 million, driven by a 21% increase in net interest income. Total assets grew to $1.28 billion, with deposits increasing to $1.06 billion. The Company recorded a $1.0 million benefit in its provision for loan losses, reflecting improved asset quality.
Pathfinder Bancorp, Inc. (NASDAQ: PBHC) has declared a cash dividend of $0.07 per share on common stock and a $0.07 cash dividend per notional share for warrants. The dividend is set to benefit shareholders of record by January 14, 2022 and will be distributed on February 4, 2022. Located in Oswego, New York, Pathfinder Bank operates ten full-service offices and is known for its insured deposits through the FDIC.
Pathfinder Bancorp reported a significant increase in third quarter 2021 net income of $3.4 million, up from $1.5 million in the same period last year, reflecting a 15.7% growth in total revenue to $11.3 million. Year-to-date net income rose 70% to $8.5 million. Assets totaled $1.26 billion, with total deposits increasing 5.1% to $1.05 billion. Nonperforming loans improved to 1.11% from 2.58%. The company declared a cash dividend of $0.07 per share, yielding 1.7%. Despite challenges, the company aims to sustain performance into 2022 amidst economic recovery and potential inflation risks.
Pathfinder Bancorp, Inc. (NASDAQ: PBHC) has declared a cash dividend of $0.07 per share on its common stock for the fiscal quarter ending September 30, 2021. The dividend will also apply to notional shares for issued warrants. Shareholders of record by October 15, 2021 will receive the dividend on November 5, 2021. Pathfinder Bank, headquartered in Oswego, NY, operates multiple branches in the region and is federally insured. This announcement reflects the company's ongoing commitment to returning value to its shareholders.