Pathfinder Bancorp, Inc. · NASDAQ:PBHC
Pathfinder Bancorp — Shareholder Meeting (April 2013)
40 slides from Pathfinder Bancorp's shareholder meeting presentation, Apr 25, 2013
Slide 1: 2013 Annual Meeting of Shareholders
2013 Annual Meeting of Shareholders April 24, 2013 10 a.m. Oswego Country Club Oswego, New York
Slide 2: Annual Meeting of Shareholders - Chairman of the Board
Pathfinder Bancorp, Inc. Annual Meeting of Shareholders Janette Resnick Chairman of the Board
Slide 3: Introductions
President, CEO – Thomas W. Schneider Corporate Secretary – Edward A. Mervine, Esq. Introductions Directors: Executive Officers: David A. Ayoub James A. Dowd, CPA William A. Barclay Melissa A. Miller Chris R. Burritt Ronald Tascarella John P. Funiciello George P. Joyce L. William Nelson, Jr. Lloyd “B
Slide 4: Business of the Meeting
Business of the Meeting 1) The election of two directors of the Board of Directors of the Company. - David A. Ayoub - Janette Resnick
Slide 5: Business of the Meeting: Advisory Vote on Executive Compensation
Business of the Meeting 2) The Advisory Vote on Executive Compensation.
Slide 6: Business of the Meeting: Frequency of Say-on-Pay Votes
Business of the Meeting 3) Advisory Vote on the Frequency of Future “Say-on-Pay” Advisory Votes.
Slide 7: Business of the Meeting: Ratification of Auditors
Business of the Meeting 4) Ratification of the appointment of Bonadio & Co., LLP as auditors for the Company for the fiscal year ended December 31, 2013.
Slide 8: Report to Shareholders
Report to Shareholders Thomas W. Schneider President & CEO James A. Dowd, CPA SVP & Chief Financial Officer
Slide 9: Forward-looking statements
This discussion may contain the words or phrases “will likely result”, “are expected to”, “will continue”, “is anticipated”, “estimate”, ”project” or similar expression are intended to identify “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. S
Slide 10: Agenda
Agenda National/Global Economy - Monetary Policy - Interest Rate Trends Regional Market - Competitive Position - Market Disruption Corporate Strategy Results
Slide 11: The Fed's Balance Sheet
Pathfinder The Fed's Balance Sheet (S$ billions) QE2 QE Qe $3,000 $2,500 $2,000 $1,500 $1,000 $500 $o ae ae ee ae PLP oe Se # LOCAL. COMMUNITY. TRUST.
Slide 12: Assets of the Federal Reserve, by Type
inder BANCORP INC. thFi Pa 3,000,000 T2-EO-2T07 ST-20-2T02 TT-TO-2102 L£0-21-TT02 2O-TT-TT02 82-60-1107 P2-BO-TTOZ O2-20-TT02 ST-90-TTO2 TT-SO-TTO? 90-rO-TTO7 OE TTOZ 92-TO-TTO2 22-21-0102 LT-TT-OT02 ET-OT-O107 80-60-0107 bO-80-0T02 O€-90-0T02 92-S0-0T07 T2-PO-OT07 LT-EQ-OT07 OT-20-0T02 90-TO-OT02 2
Slide 13: Comparison of Treasury Yield Curve
Comparison of Treasury Yield Curve 5.00% 4.00% Percent 3.00% 2.00% 1.00% 0.00% 3 Months 1 Year 5 Year 10 Year 20 Year 3 Months 1 Year 5 Year 10 Year 20 Year 3/31/2013 0.07% 0.14% 0.77% 1.87% 2.71% 12/31/2011 0.02% 0.12% 0.83% 1.89% 2.57% 12/31/2009 0.06% 0.47% 2.69% 3.85% 4.58%
Slide 14: Deposit Market Rank by County - 2012
Deposit Market Rank by County - 2012 #1 market share holder in Oswego County Meaningful penetration into Onondaga County in a short timeframe OSWEGO COUNTY ONONDAGA COUNTY Total Deposits Market Share Total Deposits Market Share Rank Institution (ST) ($000) (%) Rank Institution (ST) ($000) (%) 1 M &
Slide 15: Oswego and Onondaga Market Combined
Oswego and Onondaga Market Combined 2012 2011 Total Deposits Market Share Total Deposits Market Share Rank Institution (ST) (000's) % Rank Institution (ST) (000's) % 1 M & T Bank Corp. (NY) 2,475,309 25.52% 1 M & T Bank Corp. (NY) 2,198,443 23.21% 2 KeyCorp (OH) 1,731,138 17.85% 2 KeyCorp (OH) 1,636
Slide 16: Strategic Initiatives
Strategic Initiatives Focus on expanding opportunities in Focus on growing Central New York the Pathfinder Bank brand while maximizing Focusing on under-served small business markets franchise value (Onondaga County branch opening) Acquisition of disenfranchised customers and employees as a result o
Slide 17: Pathfinder Bank Brand Competitive Advantage
PATHFINDER BANK BRAND COMPETITIVE ADVANTAGE LOCAL. COMMUNITY. TRUST.
Slide 18: 2013 Action Items
2013 Action Items Quality Loan Growth Downtown Syracuse LPO+ - loan production office New Internet Banking Platform
Slide 19: 2012 Financial Results
2012 Financial Results James A. Dowd SVP & Chief Financial Officer
Slide 20: Balance Sheet Results
Balance Sheet Results Growth - Organic - Balanced - Diversified
Slide 21: Asset Growth
AssetGrowth Asset Growth ($ in thousands) $550,000 $504,964 $500,000 $477,796 $450,000 $442,980 $408,545 $400,000 $371,692 $352,760 $350,000 $300,000 2008 2009 2010 2011 2012 1st Qtr 2013 $152 million
Slide 22: Loan Growth
Loan Growth ($ in Thousands) $350,000 $338,944 $333,748 $325,000 $304,750 $300,000 $285,296 $275,000 $262,465 $249,872 $250,000 $225,000 2008 2009 2010 2011 2012 1st Qtr 2013 $89 million
Slide 23: Loan Portfolio Composition
thFinder BANCORP INC. 3/31/2013 Loan Portfolio Composition = Residential Real Estate = Commercial Real Estate = Business Loans ™ Consumer Loans 12/31/2008 = Residential Real Estate = Commercial Real Estate = Business Loans = Consumer Loans LOCAL. COMMUNITY. TRUST.
Slide 24: Non Performing Loans
Non Performing Loans to Total Loans 3.00% 2.75% 2.50% 2.25% 2.08% 2.00% 1.77% 1.75% 1.66% 1.55% 1.50% 1.25% 1.00% 0.93% 0.88% 0.75% 0.50% 2008 2009 2010 2011 2012 1st Qtr 2013
Slide 25: Total Loan Loss Reserves
Total Loan Loss Reserves ($ in Thousands) $5,250 $4,686 $4,501 $4,500 $3,980 $3,648 $3,750 $3,078 $3,000 $2,473 $2,250 $1,500 $750 $0 2008 2009 2010 2011 2012 1st Qtr 2013
Slide 26: Deposit Growth
Deposit Growth ($ In Thousands) $400,000 $384,912 $353,998 $350,000 $344,138 $318,003 $300,000 $287,839 $269,438 $250,000 2008 2009 2010 2011 2012 1st Qtr 2013 $115 million Excludes Brokered Deposits
Slide 27: Deposit Portfolio Composition
Deposit Portfolio Composition Does not include Brokered Deposits
Slide 28: Pathfinder Bank Deposit Growth Outpaces Syracuse Market
Pathfinder Bank Deposit Growth Outpaces Syracuse Market Pathfinder Bank’s deposit growth has outpaced the deposit growth of the Syracuse metropolitan statistical area Pathfinder Bank Syracuse, NY MSA YoY Deposit Growth 2012 7.0% 1.9% 5-Year Deposit CAGR 8.4% 3.7% 2007 – 2012 Active Branches 8 193 So
Slide 29: Net Income
Net Income $2,700 $2,648 $2,505 $2,323 $2,300 $1,900 $1,615 $1,500 $1,100 $700 $368 $300 2008 2009 2010 2011 2012
Slide 30: Net Interest Margin
Net Interest Margin 4.00% 3.80% 3.76% 3.73% 3.60% 3.56% 3.50% 3.43% 3.40% 3.40% 3.20% 3.00% 2.80% Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 3/31/2013
Slide 31: Revenue Trends
Revenue Trends ($ in Thousands) $20,000 $18,000 $17,484 $16,714 $16,185 $16,000 $14,501 $14,000 $13,461 $12,000 2008 2009 2010 2011 2012
Slide 32: Rate/Volume Analysis Year Ended December 31, 2012
Rate/Volume Analysis Year Ended December 31, 2012 Volume Rate Total Incr/(Decr) Interest Income: Loans $1,153 $(1,061) $ 92 Investments 915 (690) 225 Interest Earning Deposits 19 2 21 Total Interest Income 2,087 (1,749) 338 Interest Expense: Deposits 431 (771) (340) Borrowings (5) (88) (93) Total In
Slide 33: Return on Average Assets
Return on Average Assets 0.80% 0.70% 0.64% 0.60% 0.57% 0.55% 0.50% 0.45% 0.40% 0.30% 0.20% 0.11% 0.10% 0.00% 2008 2009 2010 2011 2012
Slide 34: Return on Average Equity
Return on Average Equity 9.00% 8.07% 7.04% 7.00% 6.75% 6.68% 5.00% 3.00% 1.70% 1.00% 2008 2009 2010 2011 2012
Slide 35: Stock Overview: PBHC
Stock Overview: PBHC Price: $15.75 Dividend: $0.12 Current Dividend Yield: 0.76% Market Capitalization $41.2 million 52 Week High/Low: $16.50/$8.80 Price/3/31/13 EPS: 19.7x Price/Fully-Converted Tangible Book (1): 70.5% (1) Fully-converted tangible book value defined as CMV/ [(CMV * MHC Shares * Est
Slide 36: Total Return Performance
Total Return Performance 150 Pathfinder Bancorp, Inc. (MHC) NASDAQ Composite SNL Thrift 125 Source: SNL Financial 100 75 Index Value 50 25 12/31/07 12/31/08 12/31/09 12/31/10 12/31/11 12/31/12
Slide 37: Questions?
thFinder BANCORP. INC. Questions? LOCAL. COMMUNITY. TRUST.
Slide 38: Voting Results
- PathFinder BANCORP INC. Voting Results LOCAL. COMMUNITY. TRUST.
Slide 39: Thank you.
- PathFinder BANCORP INC. Thank you. LOCAL. COMMUNITY. TRUST.
Slide 40: athFinder
athFinder BANCORP. INC. LOCAL. COMMUNITY. TRUST.
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