Pioneer Bankcorp announces second quarter earnings of $5.93 million or $5.39 per share.

CLEWISTON, FL, July 24, 2026 — Pioneer Bankcorp, Inc. (OTC Markets: PBKC), the parent company of First Bank, reported its financial results for the second quarter of 2026, covering the period ended June 30, 2026. These results are compared to the second quarter of 2025, which ended June 30, 2025.

Highlights of 2026 Performance

• Net Income: $5.93 million, a 9.2% increase year-over-year.
• Earnings Per Share: $5.39, up 12.1% from the prior-year period.
• Interest Income: $20.31 million, a 7.0% increase year-over-year, while interest expense increased 0.3%.
• Net Interest Income: $16.06 million, a 9.0% increase from the prior-year period.
• Net Yield on Average Interest Earning Assets: 4.21%, an increase of 6.9% from the prior-year period.
• Return on Assets and Equity: Return on average assets was 1.45%, compared to 1.39% in the prior-year period, while return on average equity was 15.97%, compared to 17.08% in the prior-year period.
• Operating Efficiency: Overhead efficiency ratio was 55.65%, compared to 54.94% in the prior-year period.

Balance Sheet Growth

• Total Assets: Increased 1.3% to $810.2 million.
• Net Loans: Increased 5.5% to $493.3 million.
• Investments: Increased 10.1% to $218.0 million.
• Deposits: Increased 0.1% to $720.2 million.
• Stockholders' Equity: Increased 13.7% to $76.0 million.
• Tangible Book Value Per Share: Increased 16.6% to $68.94.

Capital and Credit Quality

• Tier 1 Leverage Ratio: Increased to 9.70%.
• Total Risk-Based Capital Ratio: Increased to 16.07%.
• Non-Performing Assets to Total Assets: 0.19%, compared to 0.00% in the prior-year period.
• Loans Past Due More Than 90 Days to Total Loans: 0.31%, compared to 0.00% in the prior-year period.
• Allowance for Credit Losses to Total Loans: Increased to 1.74% from 1.67% in the prior-year period.

Management Commentary

Andrew Couse, President & CEO, commented, "Our second quarter results reflect continued positive trends in earnings, net interest income, and balance sheet strength. Asset quality remains solid, and yields have continued to improve as older securities and loans mature or reprice. Our low cost of funds remains an important contributor to franchise value, and we believe these factors position us well for continued performance through the remainder of the year."

He further stated, "I want to commend our lending team for its strong efforts during the first half of the year. The team generated $63 million in new loan production year to date, and we ended the period with a loans-to-deposits ratio just below 70%. We would like to move that ratio closer to 75% over time, subject to market conditions and continued disciplined underwriting."

CONSOLIDATED FINANCIAL HIGHLIGHTS

(Dollars in thousands, except per share amounts)

For the six months ended June 30th

(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    

acouse@first1bank.com                                                                                                mdeitz@first1bank.com

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-service branch offices are also located in the following communities:

·         Labelle - 301 State Road 80

·         Clewiston - 101 South Berner Rd.

·         Fort Myers - 11741 Palm Beach Boulevard

·         Moore Haven - 24704 US Highway 27

·         Belle Glade - 325 South Main Street

·         Immokalee - 316 North 15th 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.