---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-024940"
form_type: "8-K"
ticker: "PBHC"
cik: "0001609065"
company_name: "Pathfinder Bancorp, Inc."
filed_at: "2024-03-04T23:59:59+00:00"
generated_at: "2026-06-05T04:44:29.914031+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Pathfinder Bancorp signs agreement to acquire Berkshire Bank's East Syracuse branch with $198M deposits, $32M loans

## Summary
- Acquires ~$198M in deposits and ~$32M in consumer/residential loans; one East Syracuse branch location.
- Deposit premium of 5.8% on core deposits; total premium equates to ~4.0% of aggregate deposits.
- Pro forma total assets ~$1.7B; management expects favorable IRR and EPS accretion.
- Pathfinder assumes Berkshire's existing commercial lease with annual cost ~$946,000.
- Transaction expected to close by Q3 2024, subject to regulatory approvals and customary conditions.

## SEC filing metadata
- accession: 0000950170-24-024940
- form_type: 8-K
- ticker: PBHC
- cik: 0001609065
- company_name: Pathfinder Bancorp, Inc.
- filed_at: 2024-03-04T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1609065/000095017024024940/0000950170-24-024940-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1609065/000095017024024940/pbhc-20240304.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-024940
- JSON: https://secwatch.observer/filing/0000950170-24-024940.json
- Plain text: https://secwatch.observer/filing/0000950170-24-024940.txt

## Key facts
- Material Agreements
  Pathfinder Bancorp, Inc. entered into Purchase Agreement with Berkshire Bank valued at approximately $32 million in loans and one branch location (along with associated personal property (effective 2024-03-04).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Berkshire Bank
  - Value: approximately $32 million in loans and one branch location (along with associated personal property
  - Effective: 2024-03-04
  source text: On March 4, 2024 Pathfinder Bank, the banking subsidiary of Pathfinder Bancorp, Inc. (“Pathfinder Bank”), entered into a purchase and assumption agreement (the “Purchase Agreement”) with Berkshire Bank, the banking subsidiary of Berkshire Hills Bancorp, Inc. (“Berkshire Bank”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1609065/000095017024024940/0000950170-24-024940-index.htm

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