Community Bank Declares Dividend

Pathfinder Bancorp, Inc. Declares Dividend

Jersey City, NJ - March 25, 2023 - Pathfinder Bancorp, Inc. (NASDAQ: PBHC), the parent company of Provident Bank, today announced that its Board of Directors has declared a quarterly cash dividend of $0.15 per share to be paid on April 15, 2023 to shareholders of record as of April 5, 2023.

This dividend represents a 10% increase from the previous quarterly dividend payment of $0.14 per share. The dividend payment will total approximately $1.4 million, based on the company's current outstanding shares.

"We are pleased to announce this increase in our quarterly dividend, reflecting our continued financial performance and commitment to returning value to our shareholders," said Christopher J. Harsha, President and CEO of Pathfinder Bancorp, Inc. "Our strong capital position and solid earnings enable us to maintain a consistent dividend payout, while also allowing us to invest in our business and support the growth of our franchise."

Pathfinder Bancorp, Inc. is the parent company of Provident Bank, a New Jersey-based bank with over $4.4 billion in assets. Provident Bank operates 93 retail offices throughout New Jersey, New York, and Pennsylvania. The company's common stock is listed on the NASDAQ Global Select Market under the symbol "PBHC."