---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-016713"
form_type: "8-K"
ticker: "PBHC"
cik: "0001609065"
company_name: "Pathfinder Bancorp, Inc."
filed_at: "2023-05-02T23:59:59+00:00"
generated_at: "2026-06-16T03:33:12.500672+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Pathfinder Bancorp Q1 net income down 12% to $2.6M; nonperforming loans jump to 2.1%

## Summary
- Net income $2.6M ($0.43 EPS) vs $3.0M ($0.49) a year ago; total revenue up 4.4% to $11.6M.
- Provision for credit losses surged to $692K from $102K; nonperforming loans ratio rose to 2.1% from 1.0% at Dec 31, 2022.
- Adopted CECL on Jan 1, 2023, reducing retained earnings by $2.1M after tax and tangible book by $0.36 per share.
- Net interest margin narrowed slightly to 3.02% from 3.06% due to higher deposit costs.
- Management cites stable liquidity with deposit growth of 1.7% in quarter; optimistic on Micron-driven regional growth.

## SEC filing metadata
- accession: 0000950170-23-016713
- form_type: 8-K
- ticker: PBHC
- cik: 0001609065
- company_name: Pathfinder Bancorp, Inc.
- filed_at: 2023-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1609065/000095017023016713/0000950170-23-016713-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1609065/000095017023016713/pbhc-20230502.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-016713
- JSON: https://secwatch.observer/filing/0000950170-23-016713.json
- Plain text: https://secwatch.observer/filing/0000950170-23-016713.txt

## Key facts
- Earnings Releases
  Pathfinder Bancorp, Inc. reported first quarter 2023 results: revenue $11.6 million, net income $2.6 million, EPS $0.43 per basic and diluted share.
  - Period: first quarter 2023
  - Revenue: $11.6 million
  - Net income: $2.6 million
  - EPS: $0.43 per basic and diluted share
  - Result: reported results
  source text: Pathfinder Bancorp, Inc. (“Company”) (NASDAQ: PBHC), the holding company for Pathfinder Bank (“Bank”), announced first quarter 2023 net income available to common shareholders of $2.6 million, or $0.43 per basic and diluted share. The first quarter results in 2023 were slightly lower than the $3.0 million, or $0.49 per basic and diluted share earned in the first quarter of 2022. The Company's total revenue, which is comprised of net interest income, before provision for credit losses, and total noninterest income, for the first quarter of 2023 was $11.6 million, increasing by $490,000, or 4.4%, compared to the same quarter in 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1609065/000095017023016713/0000950170-23-016713-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.