XML 21 R11.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Earnings per Common Share | 6 Months Ended
--- | ---
Jun. 30, 2022
Earnings Per Share [Abstract] |
Earnings per Common Share | Note 3: Earnings per Common Share Following shareholder approval received on June 4, 2021, the Company converted 1,380,283 shares of its Series B Convertible Perpetual Preferred Stock ("Convertible Perpetual Preferred Stock") to an equal number of shares of its newly-created Series A Non-Voting Common Stock. The conversion, which was effective on June 28, 2021, represented 100% of the Company's Convertible Perpetual Preferred Stock outstanding at the time of the conversion and retired the Convertible Perpetual Preferred Stock in perpetuity. The Company has voting common stock, non-voting common stock and a warrant that are all eligible to participate in dividends equal to the voting common stock dividends on a per share basis. Securities that participate in dividends, such as the Company’s non-voting common stock and warrant, are considered “participating securities”. The Company calculates net income available to voting common shareholders using the two-class method required for capital structures that include participating securities. In applying the two-class method, basic net income per share was calculated by dividing net income (less any dividends on participating securities) by the weighted average number of shares of voting common stock and participating securities outstanding for the period. Diluted earnings per share may include the additional effect of other securities, if dilutive, in which case the dilutive effect of such securities is calculated by applying either the two-class method or the Treasury Stock method to the assumed exercise or vesting of potentially dilutive common shares. The method yielding the more dilutive result is ultimately reported for the applicable period. Potentially dilutive common stock equivalents primarily consist of employee stock options and restricted stock units. Unallocated common shares held by the ESOP are not included in the weighted average number of common shares outstanding for purposes of calculating earnings per common share until they are committed to be released to plan participants. Anti-dilutive shares are common stock equivalents with average exercise prices in excess of the weighted average market price for the period presented. Anti-dilutive stock options, not included in the computation below, were -0- for the three and six months ended June 30, 2022, and -0- for the three and six months ended June 30, 2021, respectively. The following table sets forth the calculation of basic and diluted earnings per share.
|  | Three months ended |  |  | Six months ended |
|  | June 30, |  |  | June 30, |
(In thousands, except share and per share data) |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Net income attributable to Pathfinder Bancorp, Inc. |  | $ | 3,272 |  |  | $ | 3,009 |  |  | $ | 6,222 |  |  | $ | 5,163 |
Convertible preferred stock dividends |  |  | - |  |  |  | 83 |  |  |  | - |  |  |  | 180 |
Series A Non-Voting Common Stock dividends |  |  | 124 |  |  |  | 14 |  |  |  | 248 |  |  |  | 14 |
Warrant dividends |  |  | 12 |  |  |  | 9 |  |  |  | 23 |  |  |  | 17 |
Amount attributable to Series A Non-Voting Common Stock and participating warrants |  |  | 677 |  |  |  | 653 |  |  |  | 1,277 |  |  |  | 1,093 |
Net income available to common shareholders-Voting |  | $ | 2,459 |  |  | $ | 2,250 |  |  | $ | 4,674 |  |  | $ | 3,859 |
Net income attributable to Pathfinder Bancorp, Inc. |  | $ | 3,272 |  |  | $ | 3,009 |  |  | $ | 6,222 |  |  | $ | 5,163 |
Convertible preferred stock dividends |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 180 |
Voting Common Stock dividends |  |  | 411 |  |  |  | 314 |  |  |  | 820 |  |  |  | 626 |
Warrant dividends |  |  | 12 |  |  |  | 8 |  |  |  | 23 |  |  |  | 17 |
Amount attributable to Voting Common Stock and participating warrants |  |  | 2,104 |  |  |  | 2,504 |  |  |  | 3,960 |  |  |  | 4,254 |
Net income available to common shareholders-Series A Non-Voting |  | $ | 745 |  |  | $ | 100 |  |  | $ | 1,419 |  |  | $ | 86 |
Basic and diluted weighted average common shares outstanding-Voting |  |  | 4,549 |  |  |  | 4,464 |  |  |  | 4,543 |  |  |  | 4,453 |
Basic and diluted weighted average common shares outstanding-Series A Non-Voting |  |  | 1,380 |  |  |  | 197 |  |  |  | 1,380 |  |  |  | 99 |
Basic and diluted earnings per common share-Voting |  | $ | 0.54 |  |  | $ | 0.50 |  |  | $ | 1.03 |  |  | $ | 0.87 |
Basic and diluted earnings per common share-Series A Non-Voting |  | $ | 0.54 |  |  | $ | 0.51 |  |  | $ | 1.03 |  |  | $ | 0.87 |

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI https://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration