Pioneer Bankcorp announces year end earnings of $11.39 million or $10.34 per share

CLEWISTON, FL, January 30, 2026 – Pioneer Bankcorp, Inc (OTC Markets: PBKC), the parent company of First Bank, announced its financial results for the twelve months ended December 31, 2025. The company demonstrated strong performance in several key financial areas, with notable growth in its balance sheet, increased profitability, and sustained credit quality compared to the previous year ending December 31, 2024.

 

Highlights of 2025 Performance

·         Net Income: Pioneer Bankcorp, Inc achieved net income of $11.39 million, reflecting a 26.0% increase year-over-year.

·         Earnings Per Share: Earnings per share rose 29.3% to $10.34.

·         Interest Income: Interest income grew 15.4% to $38.99 million, while interest expense increased 5.0%.

·         Net Interest Income: Net interest income totaled $30.35 million, an 18.8% increase over 2024.

·         Net Interest Margin: The net interest margin improved to 4.00%.

·         Return on Assets and Equity: Return on average assets rose to 1.44% and return on average equity climbed to 16.95%.

·         Operating Efficiency: The overhead efficiency ratio improved to 53.99%, indicating enhanced operational effectiveness.

 

Balance Sheet Growth

·         Total Assets: Increased 10.3% to $814.8 million.

·         Net Loans: Grew 9.0% to $477.4 million.

·         Investment Portfolio: Expanded 23.2% to $222.9 million.

·         Deposits: Rose 9.4% to $729.8 million, showcasing sustained customer confidence.

·         Stockholders’ Equity: Increased 21.9% to $72.9 million.

·         Tangible Book Value Per Share: Rose 25.0% to $66.16.

 

Capital and Credit Quality

·         Tier 1 Leverage Ratio: Increased to 9.64%.

·         Total Risk-Based Capital Ratio: Rose to 16.05%.

·         Credit Quality: Non-performing assets remained at 0.00%, net charge-offs were effectively zero, and loans past due more than 90 days represented only 0.04% of total loans.

·         Allowance for Loan Losses: Increased to 1.73% of total loans, in line with portfolio growth and prudent reserve practices.

 

Management Commentary

Andrew Couse, President & CEO, commented, "We are pleased to announce another outstanding year of performance. I commend our entire team for consistently upholding and executing our values, which is evident in the strength of our results and our ongoing support for the communities we serve."

He further stated, "This year, the Bank reached two notable milestones. First, Net Interest Margin achieved 4%, driven by improvements in Securities and Loan yields as we strategically replaced or repriced bonds and loans that originated during the low-rate period of 2020-2022. We also experienced a decrease in deposit interest rates and market pressure as the Federal Reserve lowered rates this year and anticipate continued gradual improvement in NIM throughout the coming year. Second, we have substantially eliminated net unrealized losses from our bond portfolio, resulting in a significant enhancement of tangible book value and contributing to the ongoing strength of our balance sheet."

 

CONSOLIDATED FINANCIAL HIGHLIGHTS
(Dollars in thousands, except per share amounts)
		12/31/2025	12/31/2024
		(unaudited)	(audited)
Total assets		814,793	738,663
Total loans, Net		477,398	437,896
Investments		222,938	181,016
Deposits		729,808	666,867
Stockholder's equity		72,897	59,804
Tier one leverage ratio (bank only)		9.64%	9.46%
Total risk-based capital ratio (bank only)		16.05%	15.78%
Non-performing assets to total assets		0.00%	0.00%
Loans past due more than 90 days to total loans		0.04%	0.00%
Allowance for loan losses to total loans		1.73%	1.70%
Tangible book value per common share		$           66.16	$             52.93
For the twelve months ended December 31st
		2025	2024
Interest income		$         38,991	$           33,783
Interest expense		8,640	8,228
Net interest income		30,351	25,555
Provision for loan losses		825	525
Net interest income after provision for loan losses		29,526	25,030
Noninterest income		4,610	4,882
Noninterest expense		19,210	18,082
Net income before taxes		14,926	11,830
Provision for income taxes		3,537	2,790
Net income		11,389	9,040
Net income available to common shareholders		11,389	9,040
Basic net income per share		10.34	8.00
Diluted net income per share		10.34	8.00
Return on average total assets (1)		1.44%	1.25%
Return on average total equity (1)		16.95%	16.14%
Yield on average interest earning assets		5.13%	4.85%
Cost of funds		1.18%	1.21%
Net interest margin		4.00%	3.64%
Overhead efficiency ratio		53.99%	58.45%
Net charge-offs/average loans		0.00%	-0.02%
(1) Annualized for all periods presented
For additional information, please contact:
Andrew Couse, President & CEO                            or		Mark Deitz, EVP & CFO
863-902-3401		863-902-3459
[email protected]		[email protected]

About Pioneer Bankcorp, Inc

Pioneer Bankcorp, Inc. is the Bank holding company for First Bank (the “Bank”) and is located at 300 East Sugarland Highway,Clewiston,Florida.Full-servicebranchofficesarealsolocatedin the following communities:

 

·         Labelle -301StateRoad80

·         Clewiston -  101SouthBerner Rd.

·         Fort Myers -  11741 Palm Beach Boulevard

·         Moore Haven -  24704 US Highway 27

·         Belle Glade - 325 South Main Street

·         Immokalee -  316 North 15^th Street.

First Bank is engaged in financial planning and the sale of brokerage service products under the trademark First1Financial. First Bank can be found online at www.first1bank.com.

Non-GAAP Financial Measures

This report refers to the overhead efficiency ratio, which is computed by dividing non-interest expense by the sum of net interest income and non-interest income. This is a non-GAAP financial measure that we believe provides investors with important information regarding our operational efficiency. Comparison of our efficiency ratio with those of other companies may not be possible because other companies may calculate the efficiency ratio differently. Such information is not in accordance with generally accepted accounting principles in the United States (GAAP) and should not be construed as such. Management believes such financial information is meaningful to the reader in understanding operating performance but cautions that such information should not be viewed as a substitute for GAAP. Pioneer Bankcorp, Inc in referring to its net income, is referring to income under GAAP.

Forward-Looking Statements

Information in this press release may contain “forward-looking statements.” These statements reflect management's current beliefs as to the expected outcomes of future events and are not guarantees of future performance. These statements involve certain risks, uncertainties and assumptions that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. As such, actual results and outcomes may materially differ from what may be expressed or forecast in such forward-looking statements. Factors that could cause a difference include, among others: changes in the national and local economies or market conditions; changes in interest rates, deposit levels, loan demand and asset quality, including real estate and other collateral values; changes in banking regulations and accounting principles, policies, or guidelines; and the impact of competition from traditional or new sources. These and other factors that may emerge could cause decisions and actual results to differ materially from current expectations. Pioneer Bankcorp, Inc takes no obligation to revise, update, or clarify forward-looking statements to reflect events or conditions after the date of this press release.