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what it is
Pathfinder is a small New York community bank that takes deposits, makes loans, and sells insurance.
how it gets paid
Last year Pathfinder Bancorp made $78M in revenue. commercial real estate lending was the main engine at $21.8M, or 28% of sales.
what just happened
Revenue reached $58M and EPS came in at $0.47, a sharp contrast with the -$0.75 quarter seen in Q3 2024.
At a glance
C++ balance sheet — some cracks in the foundation
35/100 earnings predictability — expect surprises
2.9% dividend yield — cash in your pocket every quarter
-$0.95 fy2025 eps est
$2B fy2026 rev est
xvary composite: 36/100 — weak
What they do
Pathfinder is a small New York community bank that takes deposits, makes loans, and sells insurance.
This is a hometown bank with 186 employees serving Oswego and Onondaga Counties, not a national scale machine. If you keep your deposits, mortgage, business loan, and insurance with one local lender, switching is a hassle in real life, not a slide-deck theory. That steadier local profile shows up in a 0.6 beta and 80/100 price stability from the company coverage data.
How they make money
$78M
annual revenue
commercial real estate lending
$21.8M
residential real estate and construction
$17.2M
commercial business lending
$14.0M
deposit service income
$12.5M
insurance brokerage and other
$12.5M
The products that matter
checking and savings funding base
Deposit Accounts
funds a $19.6M spread business
these accounts fund the loan book and the bank's $19.6M of net interest income. if deposit costs rise faster than asset yields, your margin gets squeezed.
funding source
commercial and consumer lending
Loan Portfolio
$27.6M nonperforming at end 2025
this is the core earning asset base, but $27.6M of loans were nonperforming at the end of 2025. that's the whole story until it improves.
credit watch
securities and balance-sheet investing
Investment Securities
supports liquidity and capital
this is the smaller supporting piece of the balance sheet. on a bank carrying $47M of long-term debt, it matters more for liquidity and capital management than for growth.
supporting asset
Key numbers
$0.95
2025 EPS est
EPS → profit per share → so this year is projected as a loss, which means your near-term thesis cannot rely on smooth earnings.
$47M
long-term debt
Debt → borrowed money → so a small bank with $47M of debt has less room to absorb mistakes.
2.9%
dividend yield
Dividend yield → cash paid to shareholders each year as a percent of stock price → so you are getting paid a little while you wait.
$78M
TTM revenue
Revenue → total money coming in → so the whole bank is valued at less than one year of sales.
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 3 — safer than 50% of stocks
- price stability 80 / 100
- long-term debt $47M (42% of capital)
C++ — balance sheet grade and long-term debt are flagged. this stock carries more risk than average.
Total return vs. market
Return history isn't available for PBHC right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Revenue reached $58M and EPS came in at $0.47, a sharp contrast with the -$0.75 quarter seen in Q3 2024.
EDGAR shows quarterly revenue up 196% vs. prior year, while quarterly EPS was up 15%. The quiet part is that full-year 2024 EPS was still only $0.54, so one better quarter does not erase the volatility.
$58M
revenue
$0.47
eps
196%
revenue growth
the number that mattered
The number that mattered was $58M of quarterly revenue, because it is the clearest proof that the business can still put up real top-line scale despite messy annual earnings.
source: company earnings report, 2026
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What could go wrong
the #1 risk here is credit deterioration in a tiny community bank balance sheet — specifically the $27.6M of nonperforming loans already on the books.
high
nonperforming loan burden
$27.6M of loans were nonperforming at the end of 2025.
against $31k of latest-quarter profit, that is the kind of gap that can keep a stock cheap for a long time.
high
earnings fragility
latest quarterly net income was just $31,000.
one provision, one charge, or one bad credit decision can erase that. you are looking at a business with almost no earnings cushion right now.
med
dividend pressure
the stock yields 2.9%, but the current earnings run-rate looks thin for a cash payout.
if profits stay near $31k a quarter, investors may start treating the dividend as optional instead of reliable.
med
lending oversight and leadership turnover
the current snapshot flags legal proceedings or regulatory investigations, and the company has also seen leadership turnover including its chief lending officer.
for a $65M bank, extra scrutiny or a thinner lending bench matters more than it would at a national lender with layers of management underneath.
$27.6M of nonperforming loans against $31k of quarterly profit means the credit problem is about 890x the latest quarter's earnings power.
source: institutional data · regulatory filings · risk analysis
Pay attention to
credit
nonperforming loans
start here. if the $27.6M figure is not moving down in upcoming reports, the rest of the story barely matters.
earnings
next earnings print
the next report needs to show more than $31k of profit. that is not a high bar. missing it again would still tell you plenty.
capital return
dividend durability
a 2.9% yield looks fine on paper. the real question is whether earnings recover enough to keep paying it without stressing capital.
management
lending leadership transition
when a credit-sensitive bank loses its chief lending officer, you watch underwriting trends and portfolio cleanup more closely, not less.
Analyst rankings
earnings predictability
35 / 100
in human-speak, analysts think the earnings line can move around a lot. that's what happens when credit costs and a tiny profit base collide.
source: institutional data
Institutional activity
institutional ownership data for PBHC is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$14
current price
n/a
target midpoint · n/a from current
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