Pathfinder Bancorp, Inc. (PBHC) 10-Year Financial Performance & Capital Metrics

PBHC • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingNortheast Community Banks

AboutPathfinder Bancorp, Inc. operates as a holding company for Pathfinder Bank that provides various banking and financial products and services primarily in Oswego and Onondaga Counties, New York. The company accepts various deposits, including checking, savings, and money market deposit accounts, as well as certificates of deposit, and demand and time deposits. Its loan portfolio comprises commercial real estate loans; commercial loans; residential real estate and construction loans; tax-exempt loans; home equity loans and junior liens; municipal loans; and consumer loans comprising automobile, recreational vehicles, and unsecured personal loans, as well as unsecured lines of credit and loans secured by deposit accounts. The company is also involved in the property, casualty, and life insurance brokerage business. It primarily serves individuals, families, small to mid-size businesses, and municipalities. As of February 03, 2022, it operated through ten full-service offices located in Oswego and Onondaga Counties, as well as one limited purpose office located in Oneida County. Pathfinder Bancorp, Inc. was founded in 1859 and is headquartered in Oswego, New York.Show more

Net Interest Income $40M +5.3%
Total Revenue $83M +16.2%
Net Income $3M -63.6%
Return on Equity 2.8% -65.1%
Net Interest Margin 2.74% +4.6%
Efficiency Ratio 35.91% -9.1%
ROA 0.23% -64.5%
Equity / Assets 8.24% +0.4%
Book Value per Share 19.93 -22.9%
Tangible BV/Share 18.12 -27.1%
Debt/Equity 1.12 -36.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 35.9% efficiency ratio
✓Healthy dividend yield of 2.7%
✓Trading at only 0.7x book value

✗Weaknesses

✗Shares diluted 31.0% in last year

Price & Volume

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Growth Metrics

Revenue CAGR

10Y13.53%

5Y12.73%

3Y17.83%

TTM-

Profit (Net Income) CAGR

10Y2.11%

5Y-4.58%

3Y-35.15%

TTM243.54%

EPS CAGR

10Y-3.97%

5Y-12.09%

3Y-41.24%

TTM276.56%

ROCE

10Y Avg4.48%

5Y Avg5.28%

3Y Avg5.05%

Latest2.42%

Peer Comparison

Northeast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DCOMDime Community Bancshares, Inc.	1.37B	31.13	56.60	0.1%	4.5%	4.02%	6.79%	0.70
EBCEastern Bankshares, Inc.	4.4B	19.56	29.64	91.64%	11.17%	1.3%	6.14%	0.01
LYGLloyds Banking Group plc	80.5B	5.48	21.92	10.79%	11.75%	9.93%		1.76
CFGCitizens Financial Group, Inc.	26.03B	60.61	20.00	1.31%	12.22%	6.6%	7.22%	0.51
PFSProvident Financial Services, Inc.	2.65B	20.29	19.32	63.91%	10.13%	7.51%	16.04%	0.93
CBUCommunity Bank System, Inc.	3.3B	62.73	18.24	24.44%	19.4%	10.34%	6.71%	0.57
VLYValley National Bancorp	6.7B	12.02	17.42	6.51%	10.65%	6.53%	8.18%	0.50
INDBIndependent Bank Corp.	3.8B	76.62	16.95	6.89%	19.72%	7.76%	5.51%	0.23

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	18.59M	20.16M	22.89M	25.51M	27.95M	31.32M	37.99M	41.17M	38.35M	40.37M
NII Growth %	0.1%	0.08%	0.14%	0.11%	0.1%	0.12%	0.21%	0.08%	-0.07%	0.05%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	21.42M	24.09M	29.41M	34.81M	41.48M	42.51M	45.52M	50.87M	67.09M	77.74M
Interest Expense	2.66M	3.8M	6.29M	9.04M	13.53M	10.86M	7.53M	9.7M	28.74M	37.37M
Loan Loss Provision	1.35M	953K	1.77M	1.5M	1.97M	4.71M	1.02M	2.75M	2.93M	10.97M
Non-Interest Income+	4.17M	4.18M	3.15M	2.96M	4.38M	5.74M	5.51M	5.49M	4.73M	5.74M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	25.6M	28.28M	32.57M	37.77M	45.86M	48.25M	51.03M	56.36M	71.82M	83.48M
Revenue Growth %	0.09%	0.1%	0.15%	0.16%	0.21%	0.05%	0.06%	0.1%	0.27%	0.16%
Non-Interest Expense	17.59M	19.11M	20.16M	22.67M	24.91M	24.34M	26.47M	28.22M	28.36M	29.98M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	4M	4.41M	4.34M	4.55M	5.45M	8.34M	16.01M	15.69M	11.78M	5.16M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.01%	0.1%	-0.01%	0.05%	0.2%	0.53%	0.92%	-0.02%	-0.25%	-0.56%
Pretax Income+	4M	4.41M	4.34M	4.55M	5.45M	8.34M	16.01M	15.69M	11.78M	5.16M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	1.07M	1.11M	922K	546K	1.17M	1.29M	3.5M	2.66M	2.36M	332K
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	2.89M	3.27M	3.49M	4.03M	4.28M	6.95M	12.41M	12.93M	9.29M	3.38M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.05%	0.13%	0.07%	0.15%	0.06%	0.63%	0.79%	0.04%	-0.28%	-0.64%
Net Income (Continuing)	2.93M	3.3M	3.42M	4.01M	4.29M	7.05M	12.51M	13.03M	9.42M	4.83M
EPS (Diluted)+	0.66	0.78	0.72	0.94	0.80	1.19	2.07	2.13	1.51	0.42
EPS Growth %	0.05%	0.18%	-0.08%	0.31%	-0.15%	0.49%	0.74%	0.03%	-0.29%	-0.72%
EPS (Basic)	0.67	0.79	0.74	0.97	0.80	1.19	2.07	2.13	1.51	0.42
Diluted Shares Outstanding	4.19M	4.19M	4.19M	4.27M	4.46M	4.53M	4.48M	4.56M	4.65M	6.09M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	15.24M	22.42M	21.99M	26.32M	20.16M	43.46M	37.15M	35.28M	48.73M	31.57M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	567.97M	682.5M	811.04M	844.99M	1.01B	1.11B	1.17B	1.27B	1.33B	1.33B
Investments Growth %	0.11%	0.2%	0.19%	0.04%	0.19%	0.11%	0.05%	0.09%	0.04%	0.01%
Long-Term Investments	469.03M	540.54M	639.9M	667.33M	896.3M	985.79M	981.12M	1.08B	1.07B	1.06B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	4.54M	4.54M	4.54M	4.54M	4.54M	4.54M	4.54M	4.54M	4.54M	5.06M
Intangible Assets	214K	198K	182K	165K	149K	133K	117K	101K	85K	5.99M
PP&E (Net)	14.83M	15.18M	16.12M	20.62M	25.09M	24.5M	23.8M	24.18M	24.04M	37.08M
Other Assets	18.4M	21.67M	24.34M	33.42M	32.73M	36.2M	43.34M	56.18M	55.64M	54.47M
Total Current Assets	116.24M	166.91M	196.18M	207.05M	135.01M	176.27M	232.27M	233.18M	314.73M	307.78M
Total Non-Current Assets	507.01M	582.13M	685.08M	726.07M	958.8M	1.05B	1.05B	1.17B	1.15B	1.17B
Total Assets+	623.25M	749.03M	881.26M	933.12M	1.09B	1.23B	1.29B	1.4B	1.47B	1.47B
Asset Growth %	0.11%	0.2%	0.18%	0.06%	0.17%	0.12%	0.05%	0.09%	0.05%	0.01%
Return on Assets (ROA)	0%	0%	0%	0%	0%	0.01%	0.01%	0.01%	0.01%	0%
Accounts Payable	199K	75K	186K	304K	396K	193K	106K	975K	2.25M	546K
Total Debt+	56.29M	73.97M	88.95M	133.63M	110.9M	123.97M	109.7M	152.57M	211.6M	136.51M
Net Debt	41.05M	51.55M	66.96M	107.31M	90.74M	80.51M	72.55M	117.29M	162.87M	104.94M
Long-Term Debt	31.49M	32.02M	58.35M	94.63M	83.11M	117.43M	94.16M	85.4M	79.83M	57.17M
Short-Term Debt	24.8M	41.95M	30.6M	39M	25.14M	4.02M	12.5M	60.33M	125.68M	61M
Other Liabilities	5.22M	5.64M	6.38M	7.66M	9.95M	9.65M	9.39M	9.37M	11.63M	11.81M
Total Current Liabilities	515.31M	653M	754.39M	766.36M	907.43M	1B	1.07B	1.19B	1.25B	1.27B
Total Non-Current Liabilities	36.71M	37.67M	64.72M	102.29M	95.71M	129.6M	106.59M	101.6M	97.55M	87.32M
Total Liabilities	552.45M	691.11M	819.53M	868.66M	1B	1.13B	1.17B	1.29B	1.35B	1.35B
Total Equity+	71.23M	58.36M	62.06M	64.46M	90.67M	97.72M	110.63M	111.58M	120.26M	121.48M
Equity Growth %	0.03%	-0.18%	0.06%	0.04%	0.41%	0.08%	0.13%	0.01%	0.08%	0.01%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.04%	0.05%	0.06%	0.06%	0.06%	0.07%	0.12%	0.12%	0.08%	0.03%
Book Value per Share	17.00	13.93	14.81	15.11	20.31	21.57	24.71	24.47	25.84	19.93
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	44K	43K	43K	44K	47K	45K	60K	61K	61K	61K
Additional Paid-in Capital	28.72M	27.48M	28.17M	29.14M	49.36M	50.02M	51.04M	52.1M	53.11M	52.75M
Retained Earnings	33.18M	35.62M	39.02M	42.11M	44.84M	50.28M	60.95M	71.32M	76.06M	77.82M
Accumulated OCI	-2.56M	-3.82M	-4.21M	-6.04M	-2.97M	-2.24M	-1.27M	-12.17M	-9.61M	-9.14M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	13M	0	0	0	12K	14K	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	6.31M	6.37M	6.84M	8.98M	8.12M	46.56M	20.15M	21.73M	15.43M	11.21M
Operating CF Growth %	0.26%	0.01%	0.07%	0.31%	-0.1%	4.73%	-0.57%	0.08%	-0.29%	-0.27%
Net Income	2.89M	3.27M	3.49M	4.03M	4.28M	6.95M	12.41M	12.93M	9.29M	3.38M
Depreciation & Amortization	1.03M	1.05M	1.08M	1.21M	1.56M	1.38M	1.82M	700K	1.34M	1.34M
Deferred Taxes	116K	-249K	-100K	343K	-16K	-1.3M	481K	139K	-367K	-417K
Other Non-Cash Items	1.53M	1.65M	3.42M	2.38M	2.08M	41.16M	4.71M	5.28M	4.25M	8.85M
Working Capital Changes	396K	95K	-1.76M	241K	-407K	-2.19M	146K	2.05M	459K	-2.19M
Cash from Investing+	-61.48M	-121.46M	-133.94M	-52.02M	-162.81M	-149.22M	-69.95M	-131.16M	-54.79M	-22.4M
Purchase of Investments	-73.95M	-162.21M	-154.63M	-83.74M	-164.44M	-240.27M	-200.46M	-116.57M	-114.37M	-118.22M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	-225K	0	0	0	0	0	0	0	0	1.16M
Other Investing	-43.18M	-63.28M	-90.33M	-48.59M	-159.29M	-80.59M	-14.22M	-67.04M	-4.24M	-30.14M
Cash from Financing+	59.06M	122.26M	126.67M	47.37M	148.53M	125.97M	43.48M	107.56M	52.81M	-5.97M
Dividends Paid	-739K	-915K	-884K	-1.02M	-1.23M	-1.41M	-1.6M	-2.04M	-2.19M	-2.38M
Share Repurchases	0	-1.75M	0	0	0	-3.91M	-6.87M	0	0	0
Stock Issued	0	0	0	0	4.2M	3.91M	6.87M	0	0	291K
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	1000K	1000K	1000K	-1000K	1000K	-1000K	1000K	1000K	-1000K
Other Financing	74.77M	120.82M	112.68M	3.75M	155.03M	114.24M	60.03M	70.7M	-4.61M	83.65M
Net Change in Cash+	3.89M	7.17M	-428K	4.33M	-6.16M	23.3M	-6.32M	-1.87M	13.45M	-17.16M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	11.36M	15.24M	22.42M	21.99M	26.32M	20.16M	43.46M	37.15M	35.28M	48.73M
Cash at End	15.24M	22.42M	21.99M	26.32M	20.16M	43.46M	37.15M	35.28M	48.73M	31.57M
Interest Paid	2.52M	3.93M	6.18M	8.93M	13.44M	11.07M	7.44M	1.75M	27.47M	38.62M
Income Taxes Paid	1.24M	970K	945K	662K	750K	2.65M	2.46M	3.22M	3.16M	600K
Free Cash Flow+	3.68M	5.01M	4.87M	3.29M	4.52M	45.3M	18.94M	16.52M	13.47M	2.88M
FCF Growth %	0.38%	0.36%	-0.03%	-0.32%	0.38%	9.01%	-0.58%	-0.13%	-0.19%	-0.79%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	4.11%	5.05%	5.8%	6.37%	5.51%	7.38%	11.91%	11.64%	8.02%	2.8%
Return on Assets (ROA)	0.49%	0.48%	0.43%	0.44%	0.42%	0.6%	0.99%	0.96%	0.65%	0.23%
Net Interest Margin	2.98%	2.69%	2.6%	2.73%	2.56%	2.55%	2.96%	2.94%	2.62%	2.74%
Efficiency Ratio	68.71%	67.58%	61.91%	60.03%	54.33%	50.44%	51.87%	50.07%	39.49%	35.91%
Equity / Assets	11.43%	7.79%	7.04%	6.91%	8.29%	7.96%	8.61%	7.97%	8.2%	8.24%
Book Value / Share	17	13.93	14.81	15.11	20.31	21.57	24.71	24.47	25.84	19.93
NII Growth	9.83%	8.42%	13.59%	11.41%	9.58%	12.05%	21.29%	8.39%	-6.87%	5.28%
Dividend Payout	21.08%	26.47%	25.32%	25.43%	25.51%	16.36%	11.45%	15.75%	23.53%	70.29%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Banking	3.5M	3.92M	5.45M	4.94M	4.59M	4.6M	4.91M
Banking Growth	-	11.94%	39.12%	-9.46%	-6.91%	0.17%	6.73%
Fee Income	1.49M	1.52M	1.68M	1.92M	2.03M	2.19M	1.98M
Fee Income Growth	-	2.09%	10.55%	14.38%	6.00%	7.78%	-9.63%
Deposit Account	1.15M	1.39M	1.4M	1.46M	1.13M	1.25M	1.44M
Deposit Account Growth	-	21.17%	0.29%	4.95%	-23.09%	10.92%	14.97%
Insurance Commissions	831K	828K	925K	1.05M	1.13M	1.3M	1.07M
Insurance Commissions Growth	-	-0.36%	11.71%	13.30%	7.63%	15.60%	-17.71%
Credit and Debit Card	-	-	-	-	937K	676K	936K
Credit and Debit Card Growth	-	-	-	-	-	-27.85%	38.46%
Debit Card	576K	657K	771K	923K	867K	616K	875K
Debit Card Growth	-	14.06%	17.35%	19.71%	-6.07%	-28.95%	42.05%
Insufficient Funds Fees Deposit Account	852K	1.12M	871K	888K	569K	686K	819K
Insufficient Funds Fees Deposit Account Growth	-	31.69%	-22.37%	1.95%	-35.92%	20.56%	19.39%
Mortgage Banking	220K	275K	1.54M	559K	500K	488K	562K
Mortgage Banking Growth	-	25.00%	460.00%	-63.70%	-10.55%	-2.40%	15.16%
Deposit Related Fees Deposit Account	202K	179K	373K	393K	390K	436K	534K
Deposit Related Fees Deposit Account Growth	-	-11.39%	108.38%	5.36%	-0.76%	11.79%	22.48%
Investment Services Revenue	288K	267K	303K	399K	446K	454K	470K
Investment Services Revenue Growth	-	-7.29%	13.48%	31.68%	11.78%	1.79%	3.52%
Bank Servicing	170K	211K	361K	246K	363K	307K	375K
Bank Servicing Growth	-	24.12%	71.09%	-31.86%	47.56%	-15.43%	22.15%
A T M Fees Surcharge	232K	226K	213K	227K	229K	225K	242K
A T M Fees Surcharge Growth	-	-2.59%	-5.75%	6.57%	0.88%	-1.75%	7.56%
Banking House Rents Collected	134K	195K	235K	243K	229K	207K	194K
Banking House Rents Collected Growth	-	45.52%	20.51%	3.40%	-5.76%	-9.61%	-6.28%
Net Gains Losses On Sale Of Loans And Foreclosed Real Estate	50K	64K	1.18M	313K	137K	181K	187K
Net Gains Losses On Sale Of Loans And Foreclosed Real Estate Growth	-	28.00%	1742.19%	-73.45%	-56.23%	32.12%	3.31%
A T M Fees Deposit Account	94K	90K	151K	183K	167K	127K	83K
A T M Fees Deposit Account Growth	-	-4.26%	67.78%	21.19%	-8.74%	-23.95%	-34.65%
Credit Card, Merchant Discount	-	-	-	-	70K	60K	61K
Credit Card, Merchant Discount Growth	-	-	-	-	-	-14.29%	1.67%
Financial Service, Other	-	-	-	-	1.77M	-	-
Financial Service, Other Growth	-	-	-	-	-	-	-
Financial Service Other	-	-	917K	1.06M	-	-	-
Financial Service Other Growth	-	-	-	15.38%	-	-	-
Credit And Debit Card	648K	737K	841K	996K	-	-	-
Credit And Debit Card Growth	-	13.73%	14.11%	18.43%	-	-	-
Credit Card Merchant Discount	72K	80K	70K	73K	-	-	-
Credit Card Merchant Discount Growth	-	11.11%	-12.50%	4.29%	-	-	-

Frequently Asked Questions

Valuation & Price

Pathfinder Bancorp, Inc. (PBHC) has a price-to-earnings (P/E) ratio of 34.1x. This suggests investors expect higher future growth.

Growth & Financials

Pathfinder Bancorp, Inc. (PBHC) grew revenue by 16.2% over the past year. This is strong growth.

Yes, Pathfinder Bancorp, Inc. (PBHC) is profitable, generating $6.9M in net income for fiscal year 2024 (4.1% net margin).

Dividend & Returns

Yes, Pathfinder Bancorp, Inc. (PBHC) pays a dividend with a yield of 2.72%. This makes it attractive for income-focused investors.

Pathfinder Bancorp, Inc. (PBHC) has a return on equity (ROE) of 2.8%. This is below average, suggesting room for improvement.

Industry Metrics

Pathfinder Bancorp, Inc. (PBHC) has a net interest margin (NIM) of 2.7%. NIM has been under pressure due to interest rate environment.

Pathfinder Bancorp, Inc. (PBHC) has an efficiency ratio of 35.9%. This is excellent, indicating strong cost control.

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