secwatch.observer — SEC 8-K summary
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Issuer:     Pathfinder Bancorp, Inc. (PBHC)
CIK:        0001609065
Form:       8-K
Filed at:   2023-11-01T23:59:59+00:00
Accession:  0000950170-23-057559
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pathfinder Bancorp Q3 net income $2.2M, down 31% YoY; $3.9M charge-offs on two loans
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- Net income $2.2M ($0.35 EPS) vs $3.2M ($0.52) in Q3 2022; revenue after provision $10.4M, -7.2%.
- Net interest income after provision $9.2M, -8.4%; interest expense surged to $7.6M from $2.6M.
- Recorded $3.9M in charge-offs on two large CRE/commercial relationships; loans total $11.5M at quarter-end.
- Total assets $1.40B; deposits stable at $1.13B (+$2.4M since Dec 2022); equity $113.8M.
- Management expects continued margin pressure; guides ~4% annual loan growth for next 12-24 months.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1609065/000095017023057559/0000950170-23-057559-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1609065/000095017023057559/pbhc-20231101.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-057559

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