Pathfinder Bancorp, Inc. announced its financial results for the third quarter ended September 30, 2026, reporting net income of $2.1 million, or $0.32 per diluted share. This represents a decrease from the $2.7 million, or $0.42 per diluted share, reported in the second quarter of 2026, and a significant increase compared to the $626,000, or $0.10 per diluted share, earned in the third quarter of 2025.
The company reported a provision expense of $231,000 for the third quarter of 2026, attributed to quantitative and qualitative factor adjustments to the allowance for credit losses (ACL). The ACL stood at $22.7 million, or 2.60% of total loans, on September 30, 2026. Net charge-offs (NCOs) totaled $4.3 million in the third quarter of 2026, driven primarily by commercial individually analyzed loans, which were fully covered by previously established specific reserves.
Pathfinder reported total loans of $873.0 million at September 30, 2026, a decrease from $889.0 million at June 30, 2026. Commercial loans comprised $531.6 million, or 60.9% of the total loan portfolio. Total deposits were $1.16 billion at September 30, 2026, down from $1.17 billion in the prior quarter, reflecting intentional runoff of higher-cost time and brokered deposits. Core deposits were $957.1 million, or 82.6% of total deposits.
Net interest income for the third quarter of 2026 was $10.7 million, compared to $10.5 million in the second quarter of 2026. The net interest margin (NIM) was 3.07% for the third quarter of 2026. Noninterest expense was $9.4 million, or 2.51% of average assets on an annualized basis. The efficiency ratio was 78.13% in the third quarter of 2026.
On September 28, 2026, the company’s board declared a quarterly cash dividend of $0.10 per share, payable to common stockholders on November 6, 2026.
