secwatch.observer — SEC 8-K summary
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Issuer:     Pathfinder Bancorp, Inc. (PBHC)
CIK:        0001609065
Form:       8-K
Filed at:   2023-08-01T23:59:59+00:00
Accession:  0000950170-23-036499
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pathfinder Bancorp Q2 net income $2.0M, EPS $0.32, down 39% YoY; PCL spikes to $1.1M on two large loans
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- Net income $2.0M ($0.32 diluted EPS) vs $3.3M ($0.54) in Q2 2022, down 39.4% YoY.
- Provision for credit losses surged to $1.1M from $59k due to deterioration in two large CRE/commercial loan relationships totaling $13.1M.
- Net interest margin 2.96% vs 3.14% in Q2 2022; total revenue $10.8M, down 4.0% YoY.
- Total assets $1.39B, down 0.54% from year-end; deposits decreased $24.3M or 2.2% to $1.10B.
- Management expects some charge-offs next quarter from the two problem credits; loan growth guided ~4% annually.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1609065/000095017023036499/0000950170-23-036499-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1609065/000095017023036499/pbhc-20230801.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-036499

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