Pioneer Bancorp, Inc./MD

Listed Company

PBFSCIK 0001769663NasdaqAcceleratedSmaller ReportingSavings Institutions, Not Federally CharteredMarylandFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$20.29M

Total Assets

$2.15B

Equity

$323.86M

Shares Out

25.08M

Op. Cash Flow

$11.12M

Business

Pioneer Bancorp, Inc./MD operates as a bank holding company through its primary subsidiary, Pioneer Bank, National Association, offering commercial banking and related financial services. It provides deposit products, commercial real estate, commercial and industrial, construction, residential mortgage, home equity and limited consumer lending, as well as insurance and employee benefits via its insurance agency and wealth management through Pioneer Financial Services. Key business segments include community and municipal banking, mortgage purchase activities through a mortgage banking partner, insurance brokerage and wealth management. Its operations and branch network serve the Capital Region of New York through retail branches, municipal banking channels and third-party mortgage and broker partnerships.

Summary from filing dated 2024-09-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Loans	92	72	55	40	42
Securities	15	10	10	3	1
Interest-earning deposits with banks and other	3	6	6	1	315,000
Total interest and dividend income	110	88	71	44	44
Deposits	28	21	5	1	2
Borrowings and other	2	1	872,000	97,000	84,000
Total interest expense	30	22	—	—	—
Net interest income	79	67	66	42	42
Provision for credit losses	4	3	—	—	—
Net interest income after provision for credit losses	75	64	66	43	38
Bank fees and service charges	6	6	6	6	7
Insurance and wealth management services	10	9	7	7	7
Net gain on equity securities	—	735,000	374,000	−37,000	2
Net gain (loss) on securities available for sale transactions	—	−6	—	38,000	—
Litigation-related income	—	6	—	—	—
Other	1	100,000	787,000	257,000	536,000
Total noninterest income	17	16	14	14	16
Salaries and employee benefits	34	29	27	26	26
Net occupancy and equipment	8	7	7	7	6
Data processing	4	5	5	4	4
Advertising and marketing	1	729,000	825,000	520,000	618,000
Insurance premiums	993,000	913,000	908,000	819,000	425,000
Federal Deposit Insurance Corporation insurance premiums	914,000	1	857,000	765,000	1
Professional fees	9	11	5	4	4
Goodwill impairment loss	2	0	—	—	—
Other	7	6	5	5	4
Total noninterest expense	66	61	52	44	51
Income before income taxes	26	19	28	13	3
Income tax expense	6	4	6	3	2
Net income	20	15	22	10	1
Basic (in dollars per share)	0.83	0.61	0.87	0.41	0.04
Diluted (in dollars per share)	0.83	0.61	0.87	0.41	0.04
Weighted average shares outstanding - basic (in shares)	24	25	25	25	25
Weighted average shares outstanding - diluted (in shares)	25	25	25	25	25

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2024 2024-06-30	FY 2023 2023-12-31	FY 2023 2023-06-30
Cash and due from banks	30	26	37	—	34
Federal funds sold	3	4	14	—	2
Interest-earning deposits with banks	101	67	115	—	115
Cash and cash equivalents	134	97	165	—	150
Securities available for sale, at fair value	220	322	257	—	—
Securities held to maturity, net of allowance for credit losses of $452 at December 31, 2025 and $216 at December 31, 2024 (fair value of $40,175 at December 31, 2025 and $22,457 at December 31, 2024)	42	25	25	—	—
Federal Reserve Bank of New York and Federal Home Loan Bank of New York stock	6	5	4	—	1
Loans receivable	1,672	1,456	1,366	—	—
Allowance for credit losses	−25	−22	−22	−21	—
Net loans receivable	1,646	1,435	1,344	—	—
Accrued interest receivable	9	8	8	—	7
Premises and equipment, net	36	35	40	—	42
Bank-owned life insurance	15	16	16	—	16
Goodwill	10	11	11	—	9
Other intangible assets, net	3	3	3	—	2
Other assets	31	23	23	—	26
Total assets	2,151	1,980	1,895	—	1,856
Non-interest bearing deposits	456	454	445	—	526
Interest bearing deposits	1,283	1,132	1,105	—	1,016
Total deposits	1,739	1,586	1,550	—	1,542
Mortgagors' escrow deposits	9	8	10	—	8
Borrowings from Federal Home Loan Bank of New York	50	40	—	—	—
Other liabilities	29	41	39	—	40
Total liabilities	1,827	1,675	1,599	—	1,589
Commitments and contingent liabilities - See Note 14	—	—	—	—	—
Preferred stock ($0.01 par value, 5,000,000 shares authorized, no shares issued or outstanding as of December 31, 2025 and December 31, 2024)	—	—	—	—	—
Common stock ($0.01 par value, 75,000,000 shares authorized 25,072,214 and 25,978,904 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively)	251,000	260,000	263,000	—	260,000
Additional paid in capital	115	114	113	—	114
Retained earnings	203	194	188	—	173
"Unallocated common stock of Employee Stock Ownership Plan (""ESOP"")"	−9	−10	−10	—	−11
Accumulated other comprehensive income	14	6	5	—	−10
Total shareholders' equity	324	305	297	—	267
Total liabilities and shareholders' equity	2,151	1,980	1,895	—	1,856

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Net income	20	15	22	10	1
Depreciation and amortization	2	3	3	3	3
Net accretion on securities	−5	−2	53,000	2	763,000
ESOP compensation	627,000	472,000	513,000	—	—
(Earnings) loss on bank-owned life insurance	−492,000	313,000	−300,000	47,000	—
Net gain on sale or write-down of other real estate owned	−65,000	−55,000	—	—	—
Proceeds from sale of loans	3	92,000	100,000	108,000	317,000
Net (gain) loss on sale of loans	−48,000	9,000	−2,000	−3,000	−27,000
Loss on sale, disposal or impairment of premises and equipment, net	4,000	288,000	—	—	—
Gain on termination of finance lease, net	−11,000	—	—	—	—
Net gain on calls of securities held to maturity	−128,000	—	—	—	—
Stock-based compensation expense	1	154,000	—	—	—
Deferred tax (benefit) expense	−2	−188,000	855,000	708,000	−1
Increase in accrued interest receivable	−952,000	−365,000	−3	−577,000	−579,000
(Increase) decrease in other assets	−2	2	4	22	21
(Decrease) increase in other liabilities	−10	−2	−426,000	14	6
Changes in operating leases	−6,000	20,000	—	—	—
Net cash provided by operating activities	11	24	26	50	33
Proceeds from maturities, paydowns and calls of securities available for sale	213	144	188	104	57
Proceeds from sales of securities available for sale	0	75	0	5	0
Purchases of securities available for sale	−102	−33	−141	−343	−246
Proceeds from maturities and paydowns of securities held to maturity	21	3	3	5	4
Purchases of securities held to maturity	−37	−4	−3	−18	−8
Proceeds from sales of equity securities	—	3	0	803,000	8
Net purchases of FHLBNY and FRBNY stock	−807,000	−2	−105,000	—	—
Net increase in loans receivable	−219	−200	−162	99	62
Purchases of premises and equipment	−2	−838,000	−451,000	—	—
Proceeds from bank-owned life insurance death benefit	1	—	1	—	—
Proceeds from sale of other real estate owned	660,000	106,000	—	—	—
Cash paid for acquisitions	−480,000	−2	—	−2	—
Net cash used in investing activities	−126	−18	−115	−148	−125
Net increase (decrease) in deposits	153	8	−138	149	261
Net increase (decrease) in mortgagors' escrow deposits	1	2	2	−225,000	−233,000
Proceeds from exercise of stock options	76,000	—	—	—	—
Proceeds from FHLBNY borrowings, net	10	—	—	—	—
Payments on acquisition contingent consideration	−750,000	−124,000	−734,000	—	—
Repurchase of common stock	−11	−1	—	—	—
Purchase of employee restricted shares to fund statutory tax withholding	−145,000	—	—	—	—
Repayment of finance lease liability	−88,000	−102,000	−114,000	—	—
Net cash provided by (used in) financing activities	152	9	−137	149	261
Net increase (decrease) in cash and cash equivalents	37	15	−226	51	168
Interest	30	22	5	1	2
Income taxes	9	5	5	2	2
Loans transferred to other real estate owned	595,000	204,000	—	550,000	258,000
Acquisition contingent consideration payable	720,000	1	—	858,000	—
Right of use assets obtained in exchange for new finance lease liabilities	—	26,000	—	—	—
Right of use assets obtained in exchange for new operating lease liabilities	88,000	199,000	—	—	—

Filings

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