Business
Pioneer Bankcorp announces first quarter earnings of $2.91 million or $2.64 per share
Pioneer Bankcorp announces first quarter earnings of $2.91 million or $2.64 per share.
About this update from Pioneer Bankcorp Inc.
[{"type":"text","content":"CLEWISTON, FL, April 27, 2026 — Pioneer Bankcorp, Inc. (OTC Markets:\r\n PBKC), the parent company of First Bank, reported its financial results for the\r\n first quarter of 2026, covering the period ended March 31, 2026. These results\r\n are compared to the first quarter of 2025, which ended March 31, 2025.\r\n\r\n \r\n\r\nHighlights of 2026 Performance\r\n\r\n· \r\n Net Income: $2.91 million, an 18.6% increase\r\n year-over-year.\r\n\r\n· \r\n Earnings Per Share: $2.64, up 21.7% from the\r\n prior-year quarter.\r\n\r\n· \r\n Interest Income: $10.21 million, a 12.1% increase\r\n year-over-year, while interest expense increased 1.5%.\r\n\r\n· \r\n Net Interest Income: $8.07 million, a 15.3%\r\n increase from the prior-year quarter.\r\n\r\n· \r\n Net Yield on Average Interest Earning Assets:\r\n 4.17%, an increase of 7.8% from the prior-year quarter.\r\n\r\n· \r\n Return on Assets and Equity: Return on average\r\n assets was 1.42%, an increase of 12.7%, and return on average equity was\r\n 15.83%, compared to 15.82% in the prior-year quarter.\r\n\r\n· \r\n Operating Efficiency: Overhead efficiency ratio\r\n improved to 55.50% from 57.76% in the prior-year quarter.\r\n\r\n \r\n\r\nBalance Sheet Growth\r\n\r\n· \r\n Total Assets: Increased 1.1% to $822.4 million.\r\n\r\n· \r\n Net Loans: Increased 8.2% to $474.8 million.\r\n\r\n· \r\n Investments: Increased 15.3% to $224.0 million.\r\n\r\n· \r\n Deposits: Decreased 0.1% to $734.5 million.\r\n\r\n· \r\n Stockholders' Equity: Increased 15.4% to $74.2\r\n million.\r\n\r\n· \r\n Tangible Book Value Per Share: Increased 18.3% to\r\n $67.31.\r\n\r\n \r\n\r\nCapital and Credit Quality\r\n\r\n· \r\n Tier 1 Leverage Ratio: Increa...