Pioneer Bancorp, Inc./MD Earnings Per Share Disclosure
20. EARNINGS PER SHARE
The following table summarizes the calculation of basic and diluted earnings per common share (in thousands, except for share and per share amounts):
Year Ended | Six Months Ended | Fiscal Year Ended | ||||||||||
December 31, | December 31, | June 30, | ||||||||||
2025 | 2024 | 2023 | 2024 | |||||||||
(Dollars in thousands, except share and per share amounts) | ||||||||||||
Net income applicable to common stock | $ | 20,287 | $ | 9,600 | $ | 6,611 | $ | 15,260 | ||||
Average number of common shares outstanding | 25,158,550 | 25,736,880 | 25,977,679 | 25,951,228 | ||||||||
Less: Average unallocated ESOP shares | 687,371 | 725,558 | 776,474 | 757,380 | ||||||||
Weighted-average number of common shares outstanding - basic | 24,471,179 | 25,011,322 | 25,201,205 | 25,193,848 | ||||||||
Add: Effect of dilutive stock options and restricted stock | 95,479 | 87,062 | — | 29,266 | ||||||||
Weighted-average number of common shares outstanding - diluted | 24,566,658 | 25,098,384 | 25,201,205 | 25,223,114 | ||||||||
Net earnings per common share: | ||||||||||||
Basic | $ | 0.83 | $ | 0.38 | $ | 0.26 | $ | 0.61 | ||||
Diluted | $ | 0.83 | $ | 0.38 | $ | 0.26 | $ | 0.61 | ||||
Potential common shares from stock options that were not included in the computation of diluted earnings per common share, because they were anti-dilutive under the treasury stock method, were approximately 75,000 for the
year ended December 31, 2025, 840,000 for the six months ended December 31, 2024 and 830,000 for the fiscal year ended June 30, 2024. There were no anti-dilutive shares for the six months ended December 31, 2023. Additional information regarding stock options and restricted stock awards can be found within Note 19 – Stock-Based Compensation.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 12, 2026 | Showing above |
| 2024 | Sep 25, 2024 | |
| 2023 | Sep 26, 2023 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.