Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Schedule Of Fair Value of Assets on Recurring Basis Segregated by Level of Valuation Inputs

The following tables summarize assets measured at fair value on a recurring basis as of the indicated dates, segregated by the level of valuation inputs within the hierarchy utilized to measure fair value:

	September 30, 2024
							Total Fair
(In thousands)	Level 1		Level 2		Level 3		Value
Available-for-Sale Portfolio
Debt investment securities:
US Treasury, agencies and GSEs	$	-	$	76,830	$	-	$	76,830
State and political subdivisions		-		33,042		-		33,042
Corporate		-		6,664		-		6,664
Asset backed securities		-		19,160		-		19,160
Residential mortgage-backed - US agency		-		35,234		-		35,234
Collateralized mortgage obligations - US agency		-		14,287		-		14,287
Collateralized mortgage obligations - Private label		-		82,262		-		82,262
Total				267,479				267,479
Equity investment securities:
Common stock - financial services industry		206		-		-		206
Other Securities:
Corporate issuances measured at NAV		-		-		-		4,292
Total available-for-sale securities	$	206	$	267,479	$	-	$	271,977
Marketable equity securities measured at NAV	$	-	$	-	$	-	$	3,872
Interest rate swap derivative fair value hedges (unrealized gain carried as receivable from derivative counterparties)	$	-	$	184	$	-	$	184

	December 31, 2023
							Total Fair
(In thousands)	Level 1		Level 2		Level 3		Value
Available-for-Sale Portfolio
Debt investment securities:
US Treasury, agencies and GSEs	$	-	$	80,083	$	-	$	80,083
State and political subdivisions		-		32,924		-		32,924
Corporate		-		6,576		-		6,576
Asset backed securities		-		19,892		-		19,892
Residential mortgage-backed - US agency		-		24,418		-		24,418
Collateralized mortgage obligations - US agency		-		12,179		-		12,179
Collateralized mortgage obligations - Private label		-		78,095		-		78,095
Total		-		254,167		-		254,167
Equity investment securities:
Common stock - financial services industry		206		-		-		206
Other Securities:
Corporate issuances measured at NAV		-		-		-		4,343
Total available-for-sale securities	$	206	$	254,167	$	-	$	258,716
Marketable equity securities measured at NAV	$	-	$	-	$	-	$	3,206
Interest rate swap derivative fair value hedges (unrealized gain carried as receivable from derivative counterparties)	$	-	$	5,160	$	-	$	5,160
Interest rate swap derivative cash flow hedges (unrealized gain carried as receivable from derivative counterparties)	$	-	$	45	$	-	$	45

Schedule Of Fair Value Assets Measured on Nonrecurring Basis

Pathfinder Bank had the following assets measured at fair value on a nonrecurring basis as of September 30, 2024 and December 31, 2023:

			September 30, 2024
							Total Fair
(In thousands)	Level 1		Level 2		Level 3		Value
Individually evaluated loans	$	-	$	-	$	8,851	$	8,851
Foreclosed real estate	$	-	$	-	$	-	$	-

			December 31, 2023
							Total Fair
(In thousands)	Level 1		Level 2		Level 3		Value
Individually evaluated loans	$	-	$	-	$	9,722	$	9,722
Foreclosed real estate	$	-	$	-	$	151	$	151

Schedule Of Fair Value Inputs, Quantitative Information

The following tables present additional quantitative information about assets measured at fair value on a nonrecurring basis and for which Level 3 inputs were used to determine fair value at the indicated dates:

		Quantitative Information about Level 3 Fair Value Measurements
	Valuation	Unobservable	Range
	Techniques	Input	(Weighted Avg.)
At September 30, 2024
Individually evaluated loans	Appraisal of collateral	Discounted Cash Flow	12% - 75% (25%)
Foreclosed real estate	Appraisal of collateral	Costs to Sell	21% - 24% (22%)

		Quantitative Information about Level 3 Fair Value Measurements
	Valuation	Unobservable	Range
	Techniques	Input	(Weighted Avg.)
At December 31, 2023
Individually evaluated loans	Appraisal of collateral	Discounted Cash Flow	10% - 75% (21%)
Foreclosed real estate	Appraisal of collateral	Costs to Sell	21% - 24% (22%)

Schedule Of Carrying Amounts and Fair Value of Financial Instruments

The carrying amounts and fair values of the Company’s financial instruments as of the indicated dates are presented in the following table:

		September 30, 2024						December 31, 2023
	Fair Value	Carrying			Estimated			Carrying		Estimated
(In thousands)	Hierarchy	Amounts			Fair Values			Amounts		Fair Values
Financial assets:
Cash and cash equivalents	1	$	35,324		$	35,324		$	48,732	$	48,732
Investment securities - available-for-sale	2		267,479			267,479			254,167		254,167
Investment securities - available-for-sale	NAV		4,292			4,292			4,343		4,343
Investment securities - marketable equity	NAV		3,872			3,872			3,206		3,206
Investment securities - held-to-maturity	2		161,385			154,972			179,286		168,034
Federal Home Loan Bank stock	2		5,401			5,401			8,748		8,748
Net loans	3		904,386			857,952			881,232		823,052
Accrued interest receivable	1		6,806			6,806			7,286		7,286
Interest rate derivative cash flow hedge receivable/(payable)	2		-			-			45		45
Interest rate derivative fair value hedges receivable - AFS investments	2		1,059			1,059			3,113		3,113
Interest rate derivative fair value hedges (payable) receivable - loans	2		(875	)		(875	)		2,047		1,477
Financial liabilities:
Demand Deposits, Savings, NOW and MMDA	1	$	703,303		$	703,303		$	607,301	$	607,301
Time Deposits	2		492,910			491,086			512,766		517,514
Borrowings	2		100,084			99,573			175,599		174,071
Subordinated debt	2		30,057			28,917			29,914		28,026
Accrued interest payable	1		236			236			2,245		2,245