MARKET

PBHC

PBHC

Pathfinder
NASDAQ

Real-time Quotes | Nasdaq Last Sale

10.37
+0.23
+2.24%
Closed 16:00 10/28 EDT
OPEN
10.37
PREV CLOSE
10.15
HIGH
10.37
LOW
10.37
VOLUME
426
TURNOVER
--
52 WEEK HIGH
14.50
52 WEEK LOW
9.08
MARKET CAP
49.32M
P/E (TTM)
9.03
1D
5D
1M
3M
1Y
5Y
News
Financial
Releases
Corp Actions
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Profile
Pathfinder Bancorp, Inc. Announces Completion of $25 Million Private Placement of Subordinated Notes
OSWEGO, N.Y., Oct. 14, 2020 (GLOBE NEWSWIRE) -- Pathfinder Bancorp, Inc. (“Company”) (NASDAQ: PBHC), the holding company for Pathfinder Bank (“Bank”), today announced the completion of its private placement of $25 million of its 5.50% Fixed to Floating Rate Subordinated Notes (the “Notes”) to certain qualified institutional buyers and accredited institutional investors. The Notes will have a maturity date of October 15, 2030 and initially bear interest, payable semi-annually, at a fixed annual rate of 5.50% per annum until October 15, 2025. Commencing on that date, the interest rate applicable to the outstanding principal amount due will be reset quarterly to an interest rate per annum equal to the then current three-month secured overnight financing rate (SOFR) plus 532 basis points, payable quarterly until maturity. The Company may redeem the Notes at par, in whole or in part, at its option, anytime beginning on October 15, 2025. The Notes are intended to qualify as Tier 2 capital for regulatory capital purposes for the Company.In connection with the issuance and sale of the Notes, the Company entered into a registration rights agreement with the purchasers of the Notes pursuant to which the Company has agreed to take certain actions to provide for the exchange of the Notes for subordinated notes that are registered under the Securities Act of 1933, as amended (the “Securities Act”), with substantially the same terms as the Notes.Thomas W. Schneider, President and CEO of the Company, stated, “We are pleased with the interest in, and successful closing of, our subordinated debt offering. We have a long history of deploying new capital into our market to expand our position as one of the premier banks in Central New York and the Mohawk Valley region. The terms of this debt issuance are favorable to: (1) providing the Company with a source of capital for further growth, (2) increasing our ability to extinguish all, or part of, a previously issued subordinated callable debenture carrying a higher coupon rate, and (3) strengthening our balance sheet during this uncertain time without dilution to existing shareholders.”Performance Trust Capital Partners, LLC served as the placement agent for the offering. Luse Gorman, PC served as legal counsel to Pathfinder Bancorp, Inc. This press release is for informational purposes only and shall not constitute an offer to sell, or the solicitation of an offer to buy, any security, nor shall there by any sale in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The Notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The indebtedness evidenced by the Notes is not a deposit and is not insured by the Federal Deposit Insurance Corporation or any other government agency or fund.About Pathfinder Bancorp, Inc.Pathfinder Bank is a New York State chartered commercial bank headquartered in Oswego, whose deposits are insured by the Federal Deposit Insurance Corporation.  The Bank is a wholly owned subsidiary of Pathfinder Bancorp, Inc., (NASDAQ SmallCap Market; symbol: PBHC).  The Bank has ten full-service offices located in its market areas consisting of Oswego and Onondaga County and one limited purpose office in Oneida County.  Forward-Looking StatementsCertain statements contained herein are “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are generally identified by use of the words "believe," "expect," "intend," "anticipate," "estimate," "project" or similar expressions, or future or conditional verbs, such as “will,” “would,” “should,” “could,” or “may”   This release may contain certain forward-looking statements, which are based on management's current expectations regarding economic, legislative, and regulatory issues that may impact the Company's earnings in future periods.  Factors that could cause future results to vary materially from current management expectations include, but are not limited to, general economic conditions, changes in interest rates, deposit flows, loan demand, real estate values, and competition; changes in accounting principles, policies, or guidelines; changes in legislation or regulation; and economic, competitive, governmental, regulatory, and technological factors affecting the Company's operations, pricing, products, and services.   As the result of the COVID-19 pandemic and the related adverse local and national economic consequences, we could be subject to any of the following additional risks, any of which could have a material, adverse effect on our business, financial condition, liquidity, and results of operations: * demand for our products and services may decline, making it difficult to grow assets and income; * if the economy is unable to substantially reopen, and high levels of unemployment continue for an extended period of time, loan delinquencies, problem assets, and foreclosures may increase, resulting in increased charges and reduced income; * collateral for loans, especially real estate, may decline in value, which could cause loan losses to increase; * our allowance for loan losses may have to be increased if borrowers experience financial difficulties beyond forbearance periods, which will adversely affect our net income; * the net worth and liquidity of loan guarantors may decline, impairing their ability to honor commitments to us; * as the result of the decline in the Federal Reserve Board’s target federal funds rate to near 0%, the yield on our assets may decline to a greater extent than the decline in our cost of interest-bearing liabilities, reducing our net interest margin and spread and reducing net income; * a material decrease in net income or a net loss over several quarters could result in a decrease in the rate of our quarterly cash dividend; * our cyber security risks are increased as the result of an increase in the number of employees working remotely; * we rely on third party vendors for certain services and the unavailability of a critical service due to the COVID-19 outbreak could have an adverse effect on us; and * Federal Deposit Insurance Corporation premiums may increase if the agency experiences additional resolution costs. The Company disclaims any obligation to revise or update any forward-looking statements contained in this press release to reflect future events or developments.       Investor/Media ContactsThomas W. Schneider – President, CEO Walter F. Rusnak, Senior Vice President, CFO Telephone:  (315) 343-0057
GlobeNewswire · 10/14 21:15
There's A Lot To Like About Pathfinder Bancorp's (NASDAQ:PBHC) Upcoming US$0.06 Dividend
It looks like Pathfinder Bancorp, Inc. (NASDAQ:PBHC) is about to go ex-dividend in the next four days. You will need...
Simply Wall St. · 10/10 14:48
Dividend Champions For October 2020
Monthly update of the Dividend Champions List.28 companies declared higher dividends in the past month, with an average increase of 5.7% over their previous payouts.Two new Champions, three new Contenders, and two new Challengers.
Seekingalpha · 10/03 07:14
What Can We Make Of Pathfinder Bancorp's (NASDAQ:PBHC) CEO Compensation?
Tom Schneider has been the CEO of Pathfinder Bancorp, Inc. (NASDAQ:PBHC) since 2000, and this article will examine the...
Simply Wall St. · 09/21 19:35
Pathfinder declares $0.06 dividend
Pathfinder (PBHC) declares $0.06/share quarterly dividend, in line with previous.Forward yield 2.12%Payable Nov. 6; for shareholders of record Oct. 16; ex-div Oct. 15.See PBHC Dividend Scorecard, Yield Chart, & Dividend
Seekingalpha · 09/21 14:23
Pathfinder Bancorp, Inc. Declares Dividend
OSWEGO, N.Y., Sept. 21, 2020 (GLOBE NEWSWIRE) -- Thomas W. Schneider, President/CEO of Pathfinder Bancorp, Inc., the bank holding company of Pathfinder Bank (NASDAQ: PBHC) (listing: PathBcp), has announced that the Company has declared a cash dividend of $0.06 per share on the Company's common and
GlobeNewswire · 09/21 14:00
Insider Buys Pathfinder Bancorp's Shares
Shares of Pathfinder Bancorp Inc (NASDAQ:PBHC) increased by 0.4% from the previous closing price. A Form 4 filing filed with the SEC on Tuesday, August 11 showed that Senior Vice President CFO Rusnak Walter bought 1,000 shares at an average price of $9.15. The
Benzinga · 08/11 15:33
Pathfinder Bancorp Q2 EPS $0.31 Up From $0.11 YoY
Pathfinder Bancorp (NASDAQ:PBHC) reported quarterly earnings of $0.31 per share. This is a 181.82 percent increase over earnings of $0.11 per share from the same period last year.
Benzinga · 08/03 20:36
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Learn about the latest financial forecast of PBHC. Analyze the recent business situations of Pathfinder through EPS, BVPS, FPS, and other data. This information may help you make smarter investment decisions.
Institutional Holdings
Institutions: 23
Institutional Holdings: 543.63K
% Owned: 11.44%
Shares Outstanding: 4.75M
TypeInstitutionsShares
Increased
4
47.83K
New
6
8.07K
Decreased
3
777
Sold Out
0
0
  • Performance
  • Asset Allocation
  • Dividend History
No Data
No Data
  • Dividends
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Declaration Date
Dividend Per Share
Ex-Div Date
09/21/2020
Dividend USD 0.06
10/15/2020
06/30/2020
Dividend USD 0.06
07/16/2020
03/20/2020
Dividend USD 0.06
04/15/2020
12/23/2019
Dividend USD 0.06
01/16/2020
09/20/2019
Dividend USD 0.06
10/17/2019
06/20/2019
Dividend USD 0.06
07/18/2019
03/28/2019
Dividend USD 0.06
04/17/2019
12/20/2018
Dividend USD 0.06
01/17/2019
09/27/2018
Dividend USD 0.06
10/18/2018
06/28/2018
Dividend USD 0.06
07/19/2018
03/29/2018
Dividend USD 0.06
04/19/2018
12/22/2017
Dividend USD 0.0575
01/11/2018
09/29/2017
Dividend USD 0.055
10/12/2017
06/29/2017
Dividend USD 0.0525
07/12/2017
03/30/2017
Dividend USD 0.05
04/11/2017
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01/11/2017
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10/12/2016
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03/31/2016
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Dividend USD 0.03
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Dividend USD 0.1025
01/14/2009
09/23/2008
Dividend USD 0.1025
10/10/2008
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Dividend USD 0.1025
07/11/2008
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About PBHC
Pathfinder Bancorp, Inc. is a bank holding company. The Company's primary business is its investment in Pathfinder Bank (the Bank), which is owned by the Company. The Bank is a New York-chartered stock savings bank, which is engaged in the business of attracting deposits from the general public in the Bank's market area, and investing such deposits, together with other sources of funds, in loans secured by residential real estate, commercial real estate, small business loans and consumer loans. The Bank invests a portion of its assets in securities issued by the United States Government and its agencies and sponsored enterprises, state and municipal obligations, corporate debt securities, mutual funds and equity securities. The Bank also invests in mortgage-backed securities primarily issued or guaranteed by United States Government sponsored enterprises and collateralized mortgage obligations. The Bank's principal sources of funds are deposits.
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