Fair Value Measurements (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Fair Value Disclosures [Abstract] |
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| Schedule Of Fair Value of Assets on Recurring Basis Segregated by Level of Valuation Inputs |
The following tables summarize assets measured at fair value on a recurring basis as of the indicated dates, segregated by the level of valuation inputs within the hierarchy utilized to measure fair value:
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June 30, 2026 |
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(In thousands) |
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Level 1 |
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Level 2 |
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Level 3 |
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Total Fair Value |
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Available-for-Sale Portfolio |
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Debt investment securities: |
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U.S. Treasury, agencies and GSEs |
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$ |
- |
|
|
$ |
60,583 |
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|
$ |
- |
|
|
$ |
60,583 |
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State and political subdivisions |
|
|
- |
|
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33,602 |
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|
|
- |
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|
33,602 |
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Corporate |
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|
- |
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|
|
5,176 |
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|
|
- |
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|
5,176 |
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Corporate issuances measured at NAV |
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|
- |
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|
- |
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- |
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4,202 |
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Asset backed securities |
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- |
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11,883 |
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- |
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11,883 |
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Residential mortgage-backed - U.S. agency |
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- |
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113,937 |
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- |
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113,937 |
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Collateralized mortgage obligations - U.S. agency |
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- |
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30,374 |
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|
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- |
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30,374 |
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Collateralized mortgage obligations - Private label |
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- |
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106,184 |
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- |
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106,184 |
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Total |
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361,739 |
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365,941 |
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Equity investment securities: |
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Common stock - financial services industry |
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206 |
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- |
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- |
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|
206 |
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Total available-for-sale securities |
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$ |
206 |
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$ |
361,739 |
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$ |
- |
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$ |
366,147 |
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Marketable equity securities measured at NAV |
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$ |
- |
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$ |
- |
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$ |
- |
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$ |
6,213 |
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Interest rate swap derivative fair value hedges (unrealized gain carried as receivable from derivative counterparties) |
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$ |
- |
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$ |
3,893 |
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$ |
- |
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$ |
3,893 |
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December 31, 2025 |
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(In thousands) |
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Level 1 |
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Level 2 |
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Level 3 |
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Total Fair Value |
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Available-for-Sale Portfolio |
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Debt investment securities: |
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U.S. Treasury, agencies and GSEs |
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$ |
- |
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$ |
65,015 |
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$ |
- |
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$ |
65,015 |
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State and political subdivisions |
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|
- |
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33,918 |
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- |
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33,918 |
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Corporate |
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- |
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3,753 |
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- |
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|
3,753 |
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Corporate issuances measured at NAV |
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- |
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- |
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- |
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4,189 |
|
Asset backed securities |
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- |
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15,612 |
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- |
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15,612 |
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Residential mortgage-backed - U.S. agency |
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- |
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49,015 |
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- |
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49,015 |
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Collateralized mortgage obligations - U.S. agency |
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- |
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18,383 |
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- |
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18,383 |
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Collateralized mortgage obligations - Private label |
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- |
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86,724 |
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- |
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86,724 |
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Total |
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272,420 |
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276,609 |
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Equity investment securities: |
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Common stock - financial services industry |
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|
206 |
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- |
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- |
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|
206 |
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Total available-for-sale securities |
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$ |
206 |
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$ |
272,420 |
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$ |
- |
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$ |
276,815 |
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Marketable equity securities measured at NAV |
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$ |
- |
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$ |
- |
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$ |
- |
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$ |
6,034 |
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Interest rate swap derivative fair value hedges (unrealized gain carried as receivable from derivative counterparties) |
|
$ |
- |
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|
$ |
1,506 |
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$ |
- |
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|
$ |
1,506 |
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| Schedule Of Fair Value Assets Measured on Nonrecurring Basis |
Pathfinder Bank had the following assets measured at fair value on a nonrecurring basis as of June 30, 2026 and December 31, 2025:
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June 30, 2026 |
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(In thousands) |
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Level 1 |
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Level 2 |
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Level 3 |
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Total Fair Value |
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Individually evaluated loans |
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$ |
- |
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$ |
- |
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$ |
9,956 |
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$ |
9,956 |
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Foreclosed real estate |
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- |
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- |
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|
137 |
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|
137 |
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December 31, 2025 |
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|
(In thousands) |
|
Level 1 |
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Level 2 |
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Level 3 |
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Total Fair Value |
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Individually evaluated loans |
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$ |
- |
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$ |
- |
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$ |
48,649 |
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$ |
48,649 |
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Foreclosed real estate |
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- |
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- |
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|
137 |
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|
137 |
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| Schedule Of Fair Value Inputs, Quantitative Information |
The following tables presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which Level 3 inputs were used to determine fair value at the indicated dates.
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Quantitative Information about Level 3 Fair Value Measurements at June 30, 2026 |
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Valuation Techniques |
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Unobservable Input |
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Range (Weighted Avg.) |
Individually evaluated loans |
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Appraisal of collateral |
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Discounted Cash Flow |
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10% -58% (32%) |
Foreclosed real estate |
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Appraisal of collateral |
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Costs to Sell |
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21% - 24% (22%) |
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Quantitative Information about Level 3 Fair Value Measurements at December 31, 2025 |
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Valuation Techniques |
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Unobservable Input |
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Range (Weighted Avg.) |
Individually evaluated loans |
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Appraisal of collateral |
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Discounted Cash Flow |
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5% - 97% (48%) |
Foreclosed real estate |
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Appraisal of collateral |
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Costs to Sell |
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21% - 24% (22%) |
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| Schedule Of Carrying Amounts and Fair Value of Financial Instruments |
The carrying amounts and fair values of the Company’s financial instruments as of the indicated dates are presented in the following table:
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June 30, 2026 |
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December 31, 2025 |
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(Dollars in thousands) |
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Fair Value Hierarchy |
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Carrying Amounts |
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Estimated Fair Values |
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Carrying Amounts |
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Estimated Fair Values |
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Financial assets: |
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Cash and cash equivalents |
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1 |
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$ |
26,050 |
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$ |
26,050 |
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$ |
31,170 |
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$ |
31,170 |
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Investment securities - available-for-sale |
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2 |
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361,945 |
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361,945 |
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272,626 |
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272,626 |
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Investment securities - available-for-sale |
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NAV |
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4,202 |
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4,202 |
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4,189 |
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4,189 |
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Investment securities - marketable equity |
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NAV |
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6,213 |
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6,213 |
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|
6,034 |
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6,034 |
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Investment securities - held-to-maturity |
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2 |
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|
111,371 |
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106,011 |
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130,324 |
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125,198 |
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Federal Home Loan Bank stock |
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2 |
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6,935 |
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6,935 |
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2,560 |
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|
2,560 |
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Net loans |
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3 |
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|
862,055 |
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838,572 |
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867,234 |
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|
842,116 |
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Accrued interest receivable |
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1 |
|
|
6,511 |
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|
6,511 |
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|
6,328 |
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|
6,328 |
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Interest rate derivative fair value hedges receivable - AFS investments |
|
2 |
|
|
2,035 |
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|
2,035 |
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|
1,214 |
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|
1,214 |
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Interest rate derivative fair value hedges receivable - loans |
|
2 |
|
|
1,858 |
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|
1,858 |
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|
292 |
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|
292 |
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Financial liabilities: |
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Demand Deposits, Savings, NOW and MMDA |
|
1 |
|
$ |
779,909 |
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|
$ |
779,909 |
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$ |
731,868 |
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$ |
731,868 |
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Time Deposits |
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2 |
|
|
394,360 |
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|
|
393,346 |
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|
451,980 |
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|
|
451,357 |
|
Borrowings |
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2 |
|
|
133,374 |
|
|
|
133,347 |
|
|
|
58,074 |
|
|
|
58,107 |
|
Subordinated debt |
|
2 |
|
|
30,155 |
|
|
|
29,609 |
|
|
|
30,155 |
|
|
|
29,689 |
|
Accrued interest payable |
|
1 |
|
|
469 |
|
|
|
469 |
|
|
|
424 |
|
|
|
424 |
|
|