Pathfinder Bancorp, Inc. · NASDAQ:PBHC
Pathfinder Bancorp — Merger or Acquisition (March 2024)
11 slides from Pathfinder Bancorp's merger presentation, Mar 5, 2024
Slide 1: East Syracuse Branch Acquisition
East Syracuse Branch Acquisition March 4, 2024 Copyright © 2024 Pathfinder Bancorp, Inc.
Slide 2: Cautionary Note regarding Forward-looking Statements
Copyright © 2024 Pathfinder Bancorp, Inc. 1 Cautionary Note regarding Forward-looking Statements This presentation contains certain 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. Forward-looking state
Slide 3: Transaction Overview
Copyright © 2024 Pathfinder Bancorp, Inc. Transaction Overview Pathfinder Bank has entered into an agreement to purchase the East Syracuse Branch from Berkshire Bank Seller: Berkshire Bank Branch Location: 6611 Manlius Center Road, East Syracuse, NY, 13057 Total Deposits: $198 Million1 Cost of Depos
Slide 4: Transaction Overview: Strategic Rationale
Copyright © 2024 Pathfinder Bancorp, Inc. Transaction Overview Pathfinder Bank has entered into an agreement to purchase the East Syracuse Branch from Berkshire Bank STRATEGIC RATIONALE Continue Pathfinder’s growth strategy to expand into attractive markets Significantly strengthens Pathfinder’s cor
Slide 5: Transaction Overview: Core Deposit Premium and Consideration
Copyright © 2024 Pathfinder Bancorp, Inc. Transaction Overview CORE DEPOSIT PREMIUM 5.8% premium for core deposits1 delivered at closing No premium paid for time deposits delivered at closing TRANSACTION CONSIDERATION ~$7.5 million cash consideration2 LOANS Assuming $32 million in consumer and resid
Slide 6: Opportunity for Growth – Syracuse
Copyright © 2024 Pathfinder Bancorp, Inc. Opportunity for Growth – Syracuse SYRACUSE IS A GROWTH MARKET – MEDIAN HHI 2023 68,883 68,528 80,716 73,503 Onondaga County Syracuse MSA State of New York United States 2029 75,933 74,326 83,550 +10.23% +8.46% +8.26% 87,387 Onondaga County Syracuse MSA State
Slide 7: Opportunity for Growth – Syracuse: Micron Megafab
Copyright © 2024 Pathfinder Bancorp, Inc. Opportunity for Growth – Syracuse MICRON MEGA – COMPLEX In 2022, Micron announced its plans to build the largest semiconductor fabrication facility in the history of the United States. Micron intends to invest up to $100 billion over the next 20-plus years t
Slide 8: Opportunity for Growth – Syracuse: Market Demographics
Copyright © 2024 Pathfinder Bancorp, Inc. Opportunity for Growth – Syracuse 467,172 651,613 ATTRACTIVE MARKET DEMOGRAPHICS Population: 651,613 Median Home Sale Price: $171 Thousand Total Bank Deposits: $15.2 Billion Average Bank Branch Deposit: $102.6 Million 336,157,119 19,649,850 Onondaga County S
Slide 9: Loan and Deposit Profiles: Loans
Copyright © 2024 Pathfinder Bancorp, Inc. Loan and Deposit Profiles LOANS 8 1 Data as of December 31, 2023 2 Data as of January 31, 2024 PATHFINDER BANK $897.2 MM EAST SYRACUSE BRANCH $32.3 MM PRO FORMA $929.5 MM - Residential Mtg CRE Home Equity Loans & LOC Commercial Construction Consumer Other 31
Slide 10: Loan and Deposit Profiles: Deposits
Copyright © 2024 Pathfinder Bancorp, Inc. Loan and Deposit Profiles DEPOSITS 9 1 Data as of December 31, 2023 2 Data as of January 31, 2024 PATHFINDER BANK $1,126.4 MM EAST SYRACUSE BRANCH $198.1 MM PRO FORMA $1,324.5 MM Pathfinder Bank % of Total ($000s) (%) Transaction Accounts (%) 308,123 27.4% M
Slide 11: Copyright © 2024 Pathfinder Bancorp, Inc.
Copyright © 2024 Pathfinder Bancorp, Inc.
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