secwatch.observer — SEC 8-K summary
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Issuer:     Pathfinder Bancorp, Inc. (PBHC)
CIK:        0001609065
Form:       8-K
Filed at:   2025-03-04T23:59:59+00:00
Accession:  0000950170-25-031981
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pathfinder Bancorp restates Q4 and FY 2024 earnings due to interest expense omission
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- Net income for Q4 2024 revised from $4.3M ($0.69/sh) to $3.9M ($0.63/sh).
- Full-year 2024 net income revised from $3.8M ($0.60/sh) to $3.4M ($0.54/sh).
- Omitting accrued interest on brokered CDs overstated net interest income by ~$443K.
- Net interest margin for full-year 2024 revised from 3.01% to 2.98%.
- Corrected figures will appear in the forthcoming 10-K for 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1609065/000095017025031981/0000950170-25-031981-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1609065/000095017025031981/pbhc-20250303.htm
  HTML page:      https://secwatch.observer/filing/0000950170-25-031981

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer