Pathfinder Bancorp Inc

For the period ended Mar 31, 2025. Filed May 15, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed May 15, 2025

PBHC$16.75+0.2%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Cash Flows

Pathfinder Bancorp, Inc.

Consolidated Statements of Cash Flows

	For the three months ended March 31,
(In thousands)	2025	2024
OPERATING ACTIVITIES
Net income attributable to Pathfinder Bancorp, Inc.	$2,974	$2,120
Adjustments to reconcile net income to net cash flows from operating activities:
Provision for credit losses	457	726
Proceeds from sales of loans held-for-sale	2,600	1,042
Originations of loans held-for-sale	(2,535)	(1,024)
Realized (gains) losses on sales, redemptions and calls of:
Loans	(65)	(18)
Available-for-sale investment securities	5	143
Held-to-maturity investment securities	3	5
Marketable securities	(218)	(108)
Depreciation	413	339
Amortization of mortgage servicing rights	(3)	(14)
Amortization of deferred loan fees and costs	6	(105)
Amortization of operating and finance leases	112	28
Amortization of deferred financing fees from subordinated debt	49	47
Earnings on bank owned life insurance	(162)	(157)
Net amortization of premiums and discounts on investment securities	(46)	22
Net amortization of premiums on intangible assets	143	5
Stock based compensation and ESOP expense	174	77
Net change in accrued interest receivable	133	116
Net change in other assets and liabilities	1,657	(2,740)
Net cash inflows from operating activities	5,697	504
INVESTING ACTIVITIES
Purchase of available-for-sale securities	(25,882)	(40,740)
Purchase of held-to-maturity securities	(6,196)	(3,014)
Purchase of marketable securities	(107)	(28)
Purchase of Federal Home Loan Bank stock	(1,788)	(2,896)
Proceeds from redemption of Federal Home Loan Bank stock	3,472	4,613
Proceeds from maturities and principal reductions of available-for-sale securities	10,473	16,029
Proceeds from maturities and principal reductions of held-to-maturity securities	6,612	8,929
Proceeds from sales, redemptions and calls of:
Available-for-sale securities	2,995	3,434
Held-to-maturity securities	2,507	696
Real estate acquired through foreclosure	-	68
Net change in loans	6,679	5,735
Purchase of premises and equipment	(637)	(230)
Net cash outflows from investing activities	(1,872)	(7,404)
FINANCING ACTIVITIES
Net change in demand deposits, NOW accounts, savings accounts, money management deposit accounts, MMDA accounts and escrow deposits	63,551	6,271
Net change in time deposits	8,347	23,657
Net change in brokered deposits	(11,942)	(3,882)
Net change in short-term borrowings	(34,000)	(34,103)
Payments on long-term borrowings	(9,440)	(4,050)
Proceeds from exercise of stock options	180	5
Cash dividends paid to common voting shareholders	(474)	(424)
Cash dividends paid to common non-voting shareholders	(138)	(124)
Cash dividends paid on warrants	(13)	(12)
Change in noncontrolling interest, net	-	53
Net cash inflows (outflows) from financing activities	16,071	(12,609)
Change in cash and cash equivalents	19,896	(19,509)
Cash and cash equivalents at beginning of period	31,572	48,732
Cash and cash equivalents at end of period	$51,468	$29,223
CASH PAID DURING THE PERIOD FOR:
Interest	$7,732	$9,492

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