Pioneer Bancorp, Inc. announces an Equity Buyback for 1,298,883 shares, representing 5% of its issued share capital.
May 21, 2024 at 04:38 pm EDT
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Pioneer Bancorp, Inc. (NasdaqCM:PBFS) announces a share repurchase program. Under the program, the company will repurchase up to 1,298,883 shares, representing 5% of its share capital. The program does not have any expiration date.
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. 
