Pioneer Bancorp, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended June 30, 2023
August 16, 2023 at 04:05 pm EDT
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Pioneer Bancorp, Inc. reported earnings results for the fourth quarter and full year ended June 30, 2023. For the fourth quarter, the company reported net interest income was USD 16.22 million compared to USD 11.75 million a year ago. Net income was USD 4.51 million compared to USD 2.37 million a year ago. Basic earnings per share from continuing operations was USD 0.18 compared to USD 0.09 a year ago.
For the full year, net interest income was USD 65.54 million compared to USD 42.38 million a year ago. Net income was USD 21.95 million compared to USD 10.28 million a year ago. Basic earnings per share from continuing operations was USD 0.87 compared to USD 0.41 a year ago.
Pioneer Bancorp, Inc. operates principally through its wholly owned subsidiary, Pioneer Bank (the Bank), a New York state chartered savings bank. The Bank operates approximately 22 retail banking offices in Albany, Greene, Rensselaer, Saratoga, Schenectady and Warren Counties in New York. The Company accepts deposits from the general public and municipalities and uses those funds along with advances from the Federal Home Loan Bank of New York and funds generated from operations to originate commercial real estate loans, commercial and industrial loans, commercial construction loans and home equity loans and lines of credit and, to a lesser extent, consumer loans. It also invests in securities, which consist primarily of U.S. Government and agency obligations, municipal obligations and Federal Home Loan Bank of New York stock. It also offers a variety of deposit accounts, including demand accounts, savings accounts, money market accounts and certificate of deposit accounts.
PIONEER BANCORP, INC. 
