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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest and dividend income:        
Loans, including fees $ 14,425 $ 12,470 $ 39,182 $ 34,919
Debt securities:        
Taxable 5,664 4,488 17,007 12,408
Tax-exempt 469 507 1,475 1,441
Dividends 149 140 456 341
Federal funds sold and interest earning deposits 492 66 711 226
Total interest and dividend income 21,199 17,671 58,831 49,335
Interest expense:        
Interest on deposits 7,633 6,223 22,670 15,885
Interest on short-term borrowings 1,136 674 3,476 1,624
Interest on long-term borrowings 202 222 597 619
Interest on subordinated debt 496 492 1,476 1,447
Total interest expense 9,467 7,611 28,219 19,575
Net interest income 11,732 10,060 30,612 29,760
Provision for (benefit from) credit losses:        
Loans 9,104 798 10,118 2,675
Held-to-maturity securities (31) 5 (90) (24)
Unfunded commitments (104) 30 (43) 14
Total provision for credit losses 8,969 833 9,985 2,665
Net interest income after provision for credit losses 2,763 9,227 20,627 27,095
Noninterest income:        
Earnings and gains on bank owned life insurance 361 165 685 466
Net realized (losses) gains on sales and redemptions of investment securities (188) (13) (320) 60
Net realized gains (losses) on sales of marketable equity securities 62 (39) 31 (208)
Gains on sales of loans and foreclosed real estate 90 41 148 183
Loss on sale of premises and equipment (36) (36) 0
Insurance agency revenue 367 310 1,024 1,001
Total noninterest income 1,707 1,193 4,655 3,872
Noninterest expense:        
Salaries and employee benefits 4,959 4,154 13,687 12,243
Building and occupancy 1,134 868 2,864 2,699
Data processing 672 483 1,750 1,519
Professional and other services 1,820 492 3,078 1,531
Advertising 165 144 386 516
FDIC assessments 228 222 685 663
Audits and exams 123 159 416 476
Insurance agency expense 308 273 825 817
Community service activities 20 55 111 151
Foreclosed real estate expenses 27 44 82 76
Other expenses 803 759 1,989 1,660
Total noninterest expense 10,259 7,653 25,873 22,351
(Loss) income before provision for income taxes (5,789) 2,767 (591) 8,616
(Benefit) provision for income taxes (1,173) 573 (160) 1,772
Net (loss) income attributable to noncontrolling interest and Pathfinder Bancorp, Inc. (4,616) 2,194 (431) 6,844
Net income attributable to noncontrolling interest 28 18 93 87
Net (loss) income attributable to Pathfinder Bancorp Inc. $ (4,644) $ 2,176 $ (524) $ 6,757
Voting Common Stock dividends $ 0.1 $ 0.09 $ 0.3 $ 0.27
Voting Common Stock [Member]        
Noninterest expense:        
Voting Earnings per common share- basic (0.75) 0.35 (0.09) 1.1
Voting Earnings per common share - diluted (0.75) 0.35 (0.09) 1.1
Voting Common Stock dividends 472 422 1,414 1,256
Series A Non voting [Member]        
Noninterest expense:        
Voting Earnings per common share- basic (0.75) 0.35 (0.09) 1.1
Voting Earnings per common share - diluted (0.75) 0.35 (0.09) 1.1
Voting and Series A Non-Voting [Member]        
Noninterest expense:        
Voting Common Stock dividends $ 0.1 $ 0.09 $ 0.3 $ 0.27
Service Charges on Deposit Accounts [Member]        
Noninterest income:        
Noninterest income $ 392 $ 343 $ 1,031 $ 913
Loan Servicing Fees [Member]        
Noninterest income:        
Noninterest income 79 99 279 238
Debit Card Interchange Fees [Member]        
Noninterest income:        
Noninterest income 300 22 610 455
Other Charges, Commissions & Fees [Member]        
Noninterest income:        
Noninterest income $ 280 $ 265 $ 1,203 $ 764