OSWEGO, N.Y. — Pathfinder Bancorp, Inc. (NASDAQ: PBHC), the holding company for Pathfinder Bank, reported net income of $3 million, or 41 cents a share, in the first quarter of this year, up nearly 43 percent from $2.1 million or 34 cents, in the first quarter of 2024. Pathfinder attributed the growth to improving operating […]
OSWEGO, N.Y. — Pathfinder Bancorp, Inc. (NASDAQ: PBHC), the holding company for Pathfinder Bank, reported net income of $3 million, or 41 cents a share, in the first quarter of this year, up nearly 43 percent from $2.1 million or 34 cents, in the first quarter of 2024.
Pathfinder attributed the growth to improving operating efficiency and growth in net interest income, net interest margin, core deposits, and commercial loans.
“Pathfinder’s solid first quarter results reflect the strength of our balance sheet and our growing core deposit franchise. Our continued focus on disciplined loan and deposit pricing has helped expand net interest margin in a challenging economic environment while our efforts toward optimizing non-interest expenses have improved our efficiency measures,” James A. Dowd, president and CEO of Pathfinder Bancorp, said in the earnings report issued on April 30. “We remain deeply committed to strengthening our proactive credit risk management practices and view our current efforts as the beginning of a sustained, long-term strategy to enhance the quality of our loan portfolio.”
Oswego–based Pathfinder Bancorp, as of March 31, had total assets of $1.5 billion, loans of $912 million, and deposits of $1.26 billion. Pathfinder Bank has 11 full-service branches located in its market areas of Oswego and Onondaga counties and one limited-purpose office in Oneida County.
