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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

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:

		March 31, 2025
														Total Fair
(In thousands)		Level 1				Level 2				Level 3				Value
Available-for-Sale Portfolio
Debt investment securities:
US Treasury, agencies and GSEs		$	-			$	69,180			$	-			$	69,180
State and political subdivisions			-				32,433				-				32,433
Corporate			-				6,692				-				6,692
Corporate issuances measured at NAV			-				-				-				4,193
Asset backed securities			-				18,475				-				18,475
Residential mortgage-backed - US agency			-				49,220				-				49,220
Collateralized mortgage obligations - US agency			-				15,197				-				15,197
Collateralized mortgage obligations - Private label			-				88,455				-				88,455
Total							279,652								283,845
Equity investment securities:
Common stock - financial services industry			206				-				-				206
Total available-for-sale securities		$	206			$	279,652			$	-			$	284,051
Marketable equity securities measured at NAV		$	-			$	-			$	-			$	4,401
Interest rate swap derivative fair value hedges (unrealized gain carried as receivable from derivative counterparties)		$	-			$	3,110			$	-			$	3,110

		December 31, 2024
														Total Fair
(In thousands)		Level 1				Level 2				Level 3				Value
Available-for-Sale Portfolio
Debt investment securities:
US Treasury, agencies and GSEs		$	-			$	70,425			$	-			$	70,425
State and political subdivisions			-				33,322				-				33,322
Corporate			-				6,636				-				6,636
Corporate issuances measured at NAV			-				-				-				4,245
Asset backed securities			-				18,487				-				18,487
Residential mortgage-backed - US agency			-				39,171				-				39,171
Collateralized mortgage obligations - US agency			-				13,530				-				13,530
Collateralized mortgage obligations - Private label			-				83,309				-				83,309
Total							264,880								269,125
Equity investment securities:
Common stock - financial services industry			206				-				-				206
Total available-for-sale securities		$	206			$	264,880			$	-			$	269,331
Marketable equity securities measured at NAV		$	-			$	-			$	-			$	4,076
Interest rate swap derivative fair value hedges (unrealized gain carried as receivable from derivative counterparties)		$	-			$	6,086			$	-			$	6,086

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 March 31, 2025 and December 31, 2024:

						March 31, 2025
														Total Fair
(In thousands)		Level 1				Level 2				Level 3				Value
Individually evaluated loans		$	-			$	-			$	3,985			$	3,985
Foreclosed real estate		$	-			$	-			$	-			$	-

						December 31, 2024
														Total Fair
(In thousands)		Level 1				Level 2				Level 3				Value
Individually evaluated loans		$	-			$	-			$	13,020			$	13,020
Foreclosed real estate		$	-			$	-			$	-			$	-

Schedule Of Fair Value Inputs, Quantitative Information

The following table 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.

		Quantitative Information about Level 3 Fair Value Measurements
	Valuation	Unobservable	Range
	Techniques	Input	(Weighted Avg.)
At March 31, 2025
Individually evaluated loans	Appraisal of collateral	Discounted Cash Flow	12% - 50% (27%)
Foreclosed real estate	Appraisal of collateral	Costs to Sell	21% - 24% (22%)

		Quantitative Information about Level 3 Fair Value Measurements
	Valuation	Unobservable	Range
	Techniques	Input	(Weighted Avg.)
At December 31, 2024
Individually evaluated loans	Appraisal of collateral	Discounted Cash Flow	10% - 75% (21%)
Foreclosed real estate	Appraisal of collateral	Costs to Sell	21% - 24% (22%)

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:

				March 31, 2025							December 31, 2024
		Fair Value		Carrying			Estimated				Carrying			Estimated
(In thousands)		Hierarchy		Amounts			Fair Values				Amounts			Fair Values
Financial assets:
Cash and cash equivalents		1		$	51,468		$	51,468			$	31,572		$	31,572
Investment securities - available-for-sale		2			279,858			279,858				264,880			264,880
Investment securities - available-for-sale		NAV			4,193			4,193				4,245			4,245
Investment securities - marketable equity		NAV			4,401			4,401				4,076			4,076
Investment securities - held-to-maturity		2			155,704			149,048				158,683			151,023
Federal Home Loan Bank stock		2			2,906			2,906				4,590			4,590
Net loans		3			894,743			850,926				901,743			852,743
Accrued interest receivable		1			6,748			6,748				6,881			6,881
Interest rate derivative fair value hedges receivable - AFS investments		2			1,994			1,994				3,199			3,199
Interest rate derivative fair value hedges receivable - loans		2			1,116			1,116				2,887			2,887
Financial liabilities:
Demand Deposits, Savings, NOW and MMDA		1		$	764,842		$	764,842			$	701,477		$	701,477
Time Deposits		2			499,638			497,411				503,047			500,638
Borrowings		2			44,628			44,435				88,068			87,707
Subordinated debt		2			30,156			26,331				30,107			25,347
Accrued interest payable		1			844			844				546			546

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- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

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-Topic 820
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-Name Accounting Standards Codification
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Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

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-Topic 820
-SubTopic 10
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Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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