Pathfinder Bancorp, Inc. · NASDAQ:PBHC
Pathfinder Bancorp — Shareholder Meeting (June 2025)
35 slides from Pathfinder Bancorp's shareholder meeting presentation, Jun 5, 2025
Slide 1: 2025 Annual Meeting of Shareholders Presentation
2025 Annual Meeting of Shareholders Presentation June 5, 2025 | NASDAQ:PBHC William A. Barclay Chairman of the Board James A. “Jim” Dowd President & CEO Justin K. Bigham Senior VP & CFO
Slide 2: Welcoming Remarks
Welcoming Remarks William A. Barclay | Chairman of the Board
Slide 3: Forward Looking Statements
Forward Looking Statements Pathfinder Bancorp, Inc. (“Pathfinder” or the “Company”) is the holding company for Pathfinder Bank (“the Bank”). Forward-Looking Statements Certain statements contained herein are “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933
Slide 4: Agenda
Introduction of Directors, Management and Guests Conduct of the Meeting Notice and proxy Report of Inspector of Elections Meeting proposals Call for vote Management Presentation, Questions & Answers to Follow Results of Shareholder Vote Meeting Adjournment Agenda 2025 Annual Meeting of Shareholders
Slide 5: Board of Directors
Pathfinder Bancorp, Inc. Director Since Eric Allyn 2022 David A. Ayoub 2012 William A. Barclay 2011 Tony Scavuzzo 2023 Meghan Crawford-Hamlin 2022 James A. Dowd 2023 John P. Funiciello 2011 Adam C. Gagas 2014 Melanie Littlejohn 2016 John F. Sharkey, III 2014 Lloyd “Buddy” Stemple 2005 Board of Direc
Slide 6: Executive Officers
Executive Officers Name Title Current Position Since James A. Dowd, CPA President & Chief Executive Officer 2022 Justin K. Bigham, CPA Senior Vice President, Chief Financial Officer 2024 Robert G. Butkowski Senior Vice President, Chief Operating Officer 2024 William D. O’Brien Senior Vice President,
Slide 7: Independent Registered Public Accounting Firm
Independent Registered Public Accounting Firm Jamie L. Card, CPA Partner, Bonadio & Company, LLP
Slide 8: Business of 2025 Annual Meeting of Shareholders
Business of 2025 Annual Meeting of Shareholders The election of four directors for a three-year term: Meghan Crawford-Hamlin Eric Allyn Adam Gagas Melanie Littlejohn The ratification of the appointment of Bonadio & Co., LLP as our independent registered public accounting firm for the year ending Dec
Slide 9: Executive Management Presentation
Executive Management Presentation James A. Dowd President and Chief Executive Officer Justin K. Bigham Senior Vice President and Chief Financial Officer
Slide 10: Who We Are
Who We Are Our Mission: To foster relationships with individuals and businesses within our communities to be the financial provider of choice. Our goal is to continually enhance the value of the Bank for the benefit of our shareholders, customers, employees, and communities. Our Vision: At Pathfinde
Slide 11: At a Glance
At a Glance Company Overview Employee Commitment 26.9% of our team members have been with us for 10 years or more (as of December 31, 2024). We continue to invest in retention, leadership development, and team engagement as strategic priorities for 2025 and beyond.
Slide 12: Market Leadership and Reach
Market Leadership and Reach Market Position #1 in Oswego County: 47.7% of all deposits 5th largest in combined Oswego and Onondaga Counties: 7.9% market share among 15 institutions (FDIC data as of June 30, 2024) Strategic Growth 2024 Acquisition: Expanded into East Syracuse through a strategic bran
Slide 13: Who We Serve
Who We Serve Our strategic focus is on: Deepening our presence in Onondaga County by nurturing and retaining acquired relationships while attracting new customers to capture a larger share of the local market. Maximizing wallet share with our existing business and retail customers, enhancing the val
Slide 14: Who We Serve
Who We Serve We believe in an interdependent relationship where our growth is directly tied to the well-being of the Central New York community. We are committed to strengthening this connection by actively engaging with and supporting the local people, businesses, and organizations that make our re
Slide 15: Executive Leadership Team
Executive Leadership Team Since mid-2024, Pathfinder Bank has strategically enhanced its executive leadership team through thoughtful succession planning and dynamic internal promotions. Our leaders bring deep expertise, a commitment to operational excellence, and a vision for sustainable growth. Si
Slide 16: Advancing on a Strategically Developed Path
Advancing on a Strategically Developed Path In 2024, we proudly celebrated 165 years of steadfast service to our customers and communities. This milestone year was marked by: Expansion of Our Footprint: Extending our reach to better serve our growing customer base. Team Growth & New Partnerships: St
Slide 17: Strategic Execution to Date: East Syracuse Branch Acquisition
Strategic Execution to Date Successful East Syracuse Branch Acquisition Enhanced access to growing Onondaga County Added talented branch team through the acquisition Hired additional Onondaga County focused commercial and small business lenders Acquired ~$185 million in low-cost deposits Deposit ret
Slide 18: Balance Sheet Strength – A Foundation for Success
East Syracuse Branch Acquisition enabled a dramatic reduction in the Bank’s total borrowings and funding costs, significantly improved our deposit mix, supporting net interest margin (NIM) expansion. Since 2020, Pathfinder Bank has demonstrated steady expansion across key financial metrics Book Valu
Slide 19: Valuable Core Deposit Franchise
Strategic Execution to Date Valuable Core Deposit Franchise Local Lending Funded by the Community Local deposits funding local lending – meeting the needs of CNY customers is at the core of our community bank’s purpose These stable and low-cost core deposits reflect the depth and breadth of Pathfind
Slide 20: Local Commercial, Residential and Consumer Lending
Strategic Execution to Date Local Commercial, Residential and Consumer Lending Experienced In-Market Lender Well positioned to meet customers’ financing needs with abundant liquidity and a 1Q25 loan/deposit ratio of 72.1%. Residential mortgages and other consumer loans CAGR of 2.5% from 2020-2024, i
Slide 21: Proactive Credit Risk Management
Strategic Execution to Date Proactive Credit Risk Management Reshaping Credit Risk Management to Ensure Quality and Resilience Comprehensive loan portfolio review completed 3Q24 by current leadership team, requiring $9M provision for certain legacy originated and purchased loans Ongoing rigorous los
Slide 22: Focus on Productive Revenue Sources
Strategic Execution to Date Focus on Productive Revenue Sources Community Banking Services for All Our Central New York Customers Disciplined asset and liability pricing contributed to net interest income of $11.4 million* in 1Q25, up 10% from 4Q24 and 21% from 1Q24 Wealth management transition to P
Slide 23: Earnings Power Reflected in 1Q25 EPS
Strategic Execution to Date Earnings Power Reflected in 1Q25 EPS Maintaining a Resilient NIM and Profitability Effective balance sheet management and pricing created a resilient net interest margin (NIM) through the volatile rate and economic environment from 2020 to date The aforementioned loan por
Slide 24: Strategic Priorities for 2025-2026
Strategic Priorities for 2025-2026 Improve Asset Quality Metrics Continue ongoing efforts to continuously enhance the Company’s proactive credit risk management approach and improve asset quality metrics over the long-term. Pricing, origination, and underwriting of new loans, servicing and collectio
Slide 25: How Big is A Billion?
1 Million 1,000,000 seconds ≈ 11.6 days How Big is A Billion? 158x the height of Mt. Everest 1 Billion 1,000,000,000 seconds 100 Billion 100,000,000,000 seconds ≈ 31.7 years ≈ 3,170 years
Slide 26: Well Positioned for CNY Economic Transformation
Well Positioned for CNY Economic Transformation Unprecedented Public and Private Investment in Our Markets $100 Billion - Announced in 2022 following passage of the bi-partisan U.S. CHIPS & Science Law, Micron plans to build the United States’ largest semiconductor fabrication facility on the 1,400-
Slide 27: GlobalFoundries' Impact on Saratoga County
GlobalFoundries' Impact on Saratoga County A Real-Life Example of the “Micron Effect” Proven Economic Transformation | 2009–2019 As we consider the ripple effects of semiconductor investment in our region, GlobalFoundries' Fab 8 in Malta, NY offers a powerful precedent - with measurable, lasting imp
Slide 28: Well Positioned for CNY Economic Transformation
Well Positioned for CNY Economic Transformation Unprecedented Public and Private Investment in Our Markets Additional Major Investments Already Announced $120 Million – For a new ON Semiconductor Corporation (Onsemi) facility on property recently purchased by the Fortune 500 company in in DeWitt. (S
Slide 29: Traditional Community Banking in a High-Growth Market
Well Positioned for CNY Economic Transformation Traditional Community Banking in a High-Growth Market Accelerating Regional Growth The “2025 Centerstate CEO Economic Forecast for Central New York” found that 86% of regional business and community leaders describe CNY's 2025 economic outlook as good
Slide 30: Why Pathfinder Bank
Why Pathfinder Bank
Slide 31: Why Pathfinder Bank: Investment Highlights
Unprecedented Public and Private Investment in Central New York Pathfinder is well-positioned to benefit from major investments transforming CNY into a national hub for semiconductors and high tech. Discounted Valuation and Meaningful Dividend Commitment to Continuous Improvement Focused on strength
Slide 32: Questions
Questions
Slide 33: Voting Results
Voting Results William A. Barclay, Chairman Inspector of Elections Report William O’Brien, Corporate Secretary
Slide 34: Meeting Adjourned
2025 Annual Meeting of Shareholders Meeting Adjourned June 5, 2025 Thank you for Attending
Slide 35: Appendix: Reconciliation of Non-GAAP Financial Measures
Appendix: Reconciliation of Non-GAAP Financial Measures Used In This Presentation