Pathfinder Bancorp, Inc. — Form 8-K
Filed November 2, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 42/100
What the filing says
Pathfinder Bancorp reported Q3 2026 net income of $2.1M ($0.32 diluted EPS), down from $2.7M ($0.42) in Q2 2026. Net charge-offs surged to $4.3M (annualized 1.96% of loans) from $1.9M in Q2, fully covered by reserves. Total loans fell to $873M; deposits declined to $1.16B (core deposits 82.6%). Net interest margin compressed 1bp QoQ to 3.07% despite higher earning assets. Allowance for credit losses at $22.7M (2.60% of loans); nonperforming loans at $30.3M (3.47% of total loans). The company declared $0.10/share quarterly dividend (2.37% yield at $16.88 stock price).
Why this rating
Credit stress evident (NCO spike, elevated NPLs); core business shrinking (loans -2.8% YoY, deposits -5.4% YoY); margin pressure persists despite rate management efforts. Material relative to $80M market cap, but company remains adequately reserved and capital-compliant.
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