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Consolidated Statements of Condition (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
ASSETS:    
Cash and due from banks $ 48,671 $ 8,284
Interest-earning deposits (including restricted balances of $1,300 and $0, respectively) 8,908 11,876
Total cash and cash equivalents 57,579 20,160
Available-for-sale securities, at fair value 121,458 111,134
Held-to-maturity securities, at amortized cost (fair value of $117,088 and $124,148, respectively) 120,549 122,988
Marketable equity securities, at fair value 340 534
Federal Home Loan Bank stock, at cost 4,758 4,834
Loans 750,372 745,516
Loans held-for-sale [1] 150 35,935
Less: Allowance for loan losses 9,606 8,669
Loans receivable, net 740,916 772,782
Premises and equipment, net 22,304 22,699
Operating lease right-of-use assets 2,349 2,386
Accrued interest receivable 3,700 3,712
Foreclosed real estate 58 88
Intangible assets, net 145 149
Goodwill 4,536 4,536
Bank owned life insurance 17,519 17,403
Other assets 11,432 10,402
Total assets 1,107,643 1,093,807
Deposits:    
Interest-bearing 786,316 774,392
Noninterest-bearing 113,544 107,501
Total deposits 899,860 881,893
Short-term borrowings 8,138 25,138
Long-term borrowings 83,299 67,987
Subordinated loans 15,136 15,128
Accrued interest payable 407 396
Operating lease liabilities 2,618 2,650
Other liabilities 9,874 9,946
Total liabilities 1,019,332 1,003,138
Shareholders' equity:    
Preferred stock, par value $0.01 per share; no liquidation preference; 10,000,000 and 10,000,000 shares authorized, respectively; 1,155,283 and 1,155,283 shares issued and outstanding, respectively 12 12
Common stock, par value $0.01; 25,000,000 authorized shares; 4,740,446 and 4,709,238 shares issued and outstanding, respectively 47 47
Additional paid in capital 49,659 49,362
Retained earnings 46,174 44,839
Accumulated other comprehensive loss (7,077) (2,971)
Unearned ESOP (809) (855)
Total Pathfinder Bancorp, Inc. shareholders' equity 88,006 90,434
Noncontrolling interest 305 235
Total equity 88,311 90,669
Total liabilities and shareholders' equity $ 1,107,643 $ 1,093,807
[1] Based on ASC 948, Mortgage Banking, loans shall be classified as held-for-sale once a decision has been made to sell the loans and shall be transferred to the held-for-sale category at lower of cost or fair value. At March 31, 2020, the loans under contract to be sold had a principal balance of $151,000 and net deferred fees of $76. These loans were transferred at their fair value of $150,000 as of March 31, 2020 as the fair value of these loans was less than the amortized cost. During the three months ended March 31, 2020, the loss recorded on the write-down of the loan held-for-sale was immaterial. At December 31, 2019, the loans under contract to be sold had a principal balance of $35.8 million and net deferred fees of $146,000. These loans were transferred at their amortized cost of $35.9 million as of December 31, 2019, as the fair value of these loans was greater than the amortized cost