Pathfinder Bancorp, Inc. PBHC
Pathfinder Bancorp, Inc.
Pathfinder Bancorp, Inc. (the "Company") is a Maryland corporation incorporated in 2014 and headquartered in Oswego, New York. The primary business of the Company is its investment in Pathfinder Bank (the "Bank") which is 100% owned by the Company. The Company is a registered bank holding company subject to supervision and regulation by the Board of Governors of the Federal Reserve System (the "Federal Reserve Board"). The Company is also subject to supervision and regulation by the New York State Department of Financial Services (the "NYSDFS").
The Company owns a non-consolidated Delaware statutory trust subsidiary, Pathfinder Statutory Trust II, of which 100% of the common equity is owned by the Company. Pathfinder Statutory Trust II was formed in connection with the issuance of $5.2 million in trust preferred securities.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $76.7M | $78.4M | $67.7M | $51.1M | $45.8M | $42.5M | $41.8M | $34.8M | $29.4M | $24.1M |
| SG&A | $475.0K | $539.0K | $735.0K | $688.0K | $725.0K | $507.0K | $427.0K | $422.0K | $353.0K | $329.0K |
| Interest expense | $44.3M | $41.0M | $38.9M | $9.7M | $7.5M | $10.9M | $13.5M | $9.0M | $6.3M | $3.8M |
| Pre-tax income | -$4.1M | $5.2M | $11.8M | $15.7M | $16.0M | $8.3M | $5.5M | $4.6M | $4.3M | $4.4M |
| Income tax | $2.2M | $332.0K | $2.4M | $2.7M | $3.5M | $2.7M | $1.2M | $546.0K | $922.0K | $1.1M |
| Net income | -$1.9M | $3.4M | $9.3M | $12.9M | $12.4M | $7.0M | $4.3M | $4.0M | $3.5M | $3.3M |
| EPS, basic | — | — | — | — | — | 1.17 | 0.80 | 0.97 | 0.86 | 0.79 |
| EPS, diluted | — | — | — | — | — | 1.17 | 0.80 | 0.94 | 0.83 | 0.78 |
| Shares, diluted (wtd. avg.) | — | — | — | — | — | $4.6M | $4.5M | $4.3M | $4.2M | $4.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $31.2M | $31.6M | $48.7M | $35.3M | $37.1M | $43.5M | $20.2M | $26.3M | $22.0M | $22.4M |
| Property, plant and equipment | $18.0M | $19.0M | $18.4M | $17.9M | $21.7M | $22.3M | $22.7M | $20.6M | $16.1M | $15.2M |
| Goodwill | $5.1M | $5.1M | $4.5M | $4.5M | $4.5M | $4.5M | $4.5M | $4.5M | $4.5M | $4.5M |
| Other intangibles | $5.4M | $6.0M | $85.0K | $101.0K | $117.0K | $133.0K | $149.0K | $165.0K | $182.0K | $198.0K |
| Total assets | $1.43B | $1.47B | $1.47B | $1.40B | $1.29B | $1.23B | $1.09B | $933.1M | $881.3M | $749.0M |
| Short-term debt | $44.0M | $61.0M | $125.7M | $60.3M | $12.5M | $4.0M | $25.1M | $39.0M | $30.6M | $41.9M |
| Long-term debt | $14.1M | $27.1M | $49.9M | $55.7M | $64.6M | $78.0M | $68.0M | $79.5M | $43.3M | $17.0M |
| Total liabilities | $1.30B | $1.35B | $1.35B | $1.29B | $1.17B | $1.13B | $1.00B | $868.7M | $819.1M | $690.7M |
| Retained earnings | $73.4M | $77.8M | $76.1M | $71.3M | $60.9M | $50.3M | $44.8M | $42.1M | $39.0M | $35.6M |
| Total equity | $122.5M | $121.5M | $120.3M | $111.6M | $110.6M | $97.7M | $90.7M | $64.5M | $62.1M | $58.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $11.7M | $11.2M | $15.4M | $21.7M | $20.2M | $46.6M | $8.1M | $9.0M | $6.8M | $6.4M |
| Depreciation and amortisation | $1.4M | $1.3M | $1.4M | $1.1M | $1.8M | $1.7M | $1.5M | $1.2M | $1.0M | $1.0M |
| Capital expenditure | $1.3M | $2.1M | $2.0M | $1.9M | $1.2M | $1.3M | $3.6M | $5.7M | $2.0M | $1.4M |
| Investing cash flow | $40.4M | -$22.4M | -$54.8M | -$131.2M | -$70.0M | -$149.2M | -$162.8M | -$52.0M | -$133.9M | -$121.5M |
| Financing cash flow | -$52.5M | -$6.0M | $52.8M | $107.6M | $43.5M | $126.0M | $148.5M | $47.4M | $126.7M | $122.3M |
| Dividends paid | $1.9M | $1.8M | $1.7M | $1.6M | $1.2M | $1.1M | $1.1M | $1.0M | $884.0K | $866.0K |
| Buybacks | — | — | — | — | — | — | — | — | $0 | $1.8M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-169428.
Others in SIC 6022
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| BNY | Bank of New York Mellon Corp | $111.84B | 22.3x | 7.8% |
| STT | STATE STREET CORP | $53.36B | 20.7x | 7.3% |
| FITB | FIFTH THIRD BANCORP | $49.76B | 15.5x | -5.0% |
| MTB | M&T BANK CORP | $34.64B | 14.1x | 7.5% |
| NTRS | NORTHERN TRUST CORP | $34.15B | 21.4x | 6.1% |
| CFG | CITIZENS FINANCIAL GROUP INC/RI | $29.81B | 18.3x | 6.7% |
| FCNCA | FIRST CITIZENS BANCSHARES INC /DE/ | $25.48B | 13.4x | -2.2% |
| EWBC | EAST WEST BANCORP INC | $17.92B | 13.7x | 2.4% |