# Pathfinder Bancorp Earns $2.1 Million in Q3 2026 as Credit Cleanup Continues

> Pathfinder Bancorp reported $2.1 million in third-quarter 2026 net income, or $0.32 per diluted share.

- Published: 2026-11-02T13:37:31+00:00
- Section: Earnings & Results
- Author: News Desk
- URL: https://newsforagent.com/news/2026-11-02/pathfinder-bancorp-third-quarter-2026-earnings
- Source: [GlobeNewswire](https://www.globenewswire.com/news-release/2026/11/02/3393136/0/en/pathfinder-bancorp-inc-announces-financial-results-for-the-third-quarter-of-2026.html)

## Key takeaways

- Pathfinder Bancorp reported third-quarter 2026 net income of $2.1 million, or $0.32 per diluted share, down from $2.7 million in the second quarter.
- Net charge-offs were $4.3 million in the third quarter, fully covered by specific reserves, and the allowance for credit losses stood at $22.7 million, or 2.60% of total loans.
- Pathfinder Bank is one of the private partners in the $150 million Housing Central New York Fund administered by the Community Preservation Corporation.

Pathfinder Bancorp reported net income of $2.1 million, or $0.32 per diluted share, for the third quarter of 2026, down from $2.7 million, or $0.42 per diluted share, in the second quarter. The holding company for Pathfinder Bank announced the results on November 2, 2026, according to [GlobeNewswire](https://www.globenewswire.com/news-release/2026/11/02/3393136/0/en/pathfinder-bancorp-inc-announces-financial-results-for-the-third-quarter-of-2026.html).

## Pathfinder's Credit Resolution and Deposit Strategy

[Pathfinder Bank](https://akta.pro/company-profiles/0000og3/pathfinder-bank) is a community bank founded in 1859 and headquartered in Oswego, New York, serving consumers, small and mid-sized businesses and municipal entities across six Central New York counties. It is a subsidiary of NASDAQ-listed Pathfinder Bancorp.

Third-quarter net charge-offs were $4.3 million, driven primarily by commercial individually analyzed loans and fully covered by previously established specific reserves. The allowance for credit losses was $22.7 million, or 2.60% of total loans, on September 30, 2026, compared with $26.9 million, or 3.03% of loans, on June 30, 2026. Provision expense was $231,000 in the quarter.

Loans totaled $873.0 million at September 30, 2026, down from $889.0 million at June 30, 2026. Deposits totaled $1.16 billion, reflecting intentional runoff of higher-cost time and brokered deposits as well as municipal deposit seasonality. Core deposits were $957.1 million, or 82.6% of total deposits.

Net interest income was $10.7 million, compared with $10.5 million in the second quarter of 2026 and $11.6 million in the third quarter of 2025. The net interest margin was 3.07%, compared with 3.08% in the linked quarter and 3.34% a year earlier. The average cost of total deposits improved to 2.04%, down 3 basis points from the second quarter and 24 basis points from the year-ago period.

"Third quarter results demonstrate continued execution of our strategy for strengthening our relationship-focused community bank," President and Chief Executive Officer James Dowd said. "Credit performance continued to reflect the orderly resolution of previously identified commercial credits, with net charge-offs fully covered by specific reserves previously established for those exposures."

## Pathfinder's Commercial Lending and Housing Fund Roles

According to akta.pro [company records](https://akta.pro/company-data), Pathfinder Bank is one of the private partners participating in the $150 million Housing Central New York Fund, a public-private revolving loan fund administered by the Community Preservation Corporation, a partnership dated February 2026. The same records list a June 2026 leadership change appointing Martin Custer as Vice President, Senior Commercial Lender, a move described as an effort to expand commercial lending capacity in the Central New York market.

## Pathfinder's Earlier 2026 Results and Dividend

Pathfinder reported net income of $2.7 million, or $0.42 per diluted share, for the second quarter of 2026, compared with $2.4 million in the first quarter of 2026 and $31,000 in the second quarter of 2025, according to [Stock Titan](https://akta.pro/news-signals). The company declared a cash dividend of $0.10 per share on its voting and non-voting common stock for the fiscal quarter ending June 30, 2026, GlobeNewswire reported on June 29, 2026.

## Pathfinder's Dividend Payment Date

Quarterly cash dividends of $0.10 per share were declared on September 28, 2026 and are payable on November 6, 2026.

## Companies in this story

- [Pathfinder Bank company profile](https://akta.pro/company-profiles/0000og3/pathfinder-bank) · website: http://pathfinderbank.com

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