Business
Pioneer Bankcorp announces year to date earnings of $8.44 million or $7.47 per share.
Pioneer Bankcorp announces year to date earnings of $8.44 million or $7.47 per share..
About this update from Pioneer Bankcorp Inc.
[{"type":"text","content":"CLEWISTON,\r\n FL, October 28, 2025 – Pioneer Bankcorp, Inc (OTC Markets: PBKC) the\r\n holding company for First Bank, today reported earnings for the nine months\r\n ended September 30, 2025. All comparisons noted below are for the nine months\r\n ending September 30, 2024.\r\n\r\n \r\n\r\nPioneer Bankcorp reported strong financial results for\r\n the nine months ending September 30, 2025. \r\n Total assets rose to $786.7 million, up 8% from $728.7 million. Net\r\n loans increased 9.6% to $459.9 million, while deposits grew 7% to $700 million.\r\n The investment portfolio expanded 18.2% to $224.4 million, and stockholder\r\n equity rose 18.4% to $72.2 million.\r\n\r\n \r\n\r\nPioneer Bankcorp’s asset quality and capital position\r\n remained exceptionally strong through the first nine months of 2025.\r\n Non-performing assets declined to just 0.01% of total assets, down from 0.03%\r\n in the prior year, underscoring the bank’s disciplined credit underwriting and\r\n portfolio management. The allowance for loan losses increased slightly to 1.75%\r\n of total loans, up from 1.70%, reflecting a cautious approach to provisioning\r\n amid continued loan growth. The Tier One\r\n Leverage Ratio increased to 9.47%, and the Total Risk-Based Capital Ratio\r\n remained solid at 15.95%, both well above regulatory requirements.\r\n\r\n \r\n\r\nNet income for the period reached $8.44 million, a\r\n 25.9% increase from $6.70 million in the prior year, with earnings per share\r\n rising to $7.47 from $5.93. Return on average assets increased to 1.44% and\r\n return on average equity rose to 16.75%. Interest income grew 16% to $28.93\r\n million, and net interest income increased nearly 20% to $22.5 million.\r\n Non-interest income declined slightly, while non-interest expenses rose 6.9%.\r\n\r\nThe net interest margin expanded to 3.98%, up from\r\n 3.58%, supported by a higher yield on interest-earning assets, which rose to\r\n 5.11% from 4.73%. The cost of funds decreased slightly to 1.18% from 1.21%.\r\n Operational efficiency also improved, with the overhead efficiency ratio\r\n dropping to 54.12% from 58.30%. These results reflect solid year-over-year\r\n growth and continued financial strength.\r\n\r\nAndrew Couse, President & CEO, stated, “Our third quarter results\r\n reflect the Bank’s continued momentum ...