Tax benefit narrows 2025 loss at Pathfinder Bancorp (NASDAQ: PBHC)
Rhea-AI Filing Summary
Pathfinder Bancorp, Inc. updated its previously released fourth-quarter and full-year 2025 results after recording a non-cash $1.5 million additional income tax benefit for the quarter ended December 31, 2025.
The income tax benefit for the fourth quarter of 2025 was revised to $3.0 million, and the full-year 2025 income tax benefit was revised to $2.2 million. This reduced the reported net loss for the fourth quarter from $7.0 million, or $(1.11) per diluted share, to $5.6 million, or $(0.88) per diluted share. For the full year 2025, the net loss was revised from $3.4 million, or $(0.54) per diluted share, to $1.9 million, or $(0.31) per diluted share.
The change stems from an updated analysis of deferred tax assets as of December 31, 2025, which increased those balances and the associated income tax benefit. The adjustment does not affect cash taxes or operational cash flows and will be reflected in the forthcoming Form 10-K.
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Insights
Non-cash tax adjustment narrows Pathfinder’s 2025 losses without changing cash flows.
Pathfinder Bancorp revised its 2025 results after identifying an additional $1.5 million income tax benefit tied to deferred tax assets as of December 31, 2025. This increased the fourth-quarter income tax benefit to $3.0 million and the full-year benefit to $2.2 million.
The revision meaningfully reduced reported net losses. The fourth-quarter 2025 net loss narrowed from $7.0 million to $5.6 million, and the full-year loss declined from $3.4 million to $1.9 million. Per-share losses improved accordingly, to $(0.88) for the quarter and $(0.31) for the year.
The filing emphasizes that the $1.5 million tax benefit is non-cash and does not change cash taxes payable or operational cash flows. Investors evaluating performance will likely focus on how the forthcoming Form 10-K presents underlying pre-tax trends alongside this one-time deferred tax asset adjustment.
8-K Event Classification
FAQ
How did Pathfinder Bancorp (PBHC) change its Q4 2025 results?
What is Pathfinder Bancorp’s revised net loss for full-year 2025?
Is Pathfinder Bancorp’s $1.5 million tax adjustment a cash item?
Why did Pathfinder Bancorp revise its deferred tax assets for 2025?
Where will Pathfinder’s corrected 2025 financials be reported?
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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CURRENT REPORT
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Section 2 – Financial Information
Item 2.02 – Results of Operations and Financial Condition
On January 29, 2026, Pathfinder Bancorp, Inc. (the “Company”) issued a press release and reported its financial results for the fourth quarter and year ended December 31, 2025. Subsequent to the January 29, 2026 earnings press release, the Company recorded an additional income tax benefit of $1.5 million for the quarter ended December 31, 2025. As a result, the income tax benefit for the fourth quarter of 2025 was revised to $3.0 million, and the income tax benefit for the year ended December 31, 2025 was revised to $2.2 million.
The Company previously reported a net loss of $7.0 million, or $(1.11) per diluted share, for the fourth quarter of 2025. After recording the additional income tax benefit, the net loss for the fourth quarter of 2025 has been revised to $5.6 million, or $(0.88) per diluted share. For the year ended December 31, 2025, the Company previously reported a net loss of $3.4 million, or $(0.54) per diluted share. After recording the additional income tax benefit, the net loss for the year ended December 31, 2025, has been revised to $1.9 million, or $(0.31) per diluted share.
The income tax adjustment reflects an updated analysis of the Company’s deferred tax assets as of December 31, 2025. Deferred tax asset balances are measured based on temporary differences between the financial statement carrying amounts and the tax basis of assets and liabilities. The adjustment to these balances resulted in an increase to the Company’s deferred tax assets and a corresponding increase in income tax benefit for the fourth quarter of 2025.
The $1.5 million adjustment for income tax benefit is non-cash in nature and does not affect the Company’s cash taxes payable or operational cash flows.
The corrected financial statements will be reflected in the Company’s forthcoming Annual Report on Form 10-K.
The information in Item 2.02 to this Form 8-K shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as shall be expressly set forth in such filing.
Item 9.01 – Financial Statements and Exhibits
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
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PATHFINDER BANCORP, INC. |
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Date: |
February 27, 2026 |
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By: |
/s/ James A. Dowd |
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James A. Dowd |
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President and Chief Executive Officer |