Pioneer Bankshares, Inc. Reports Unaudited Consolidated Earnings Results for the Year Ended December 31, 2015
February 23, 2016 at 08:29 pm EST
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Pioneer Bankshares Inc. reported unaudited consolidated earnings results for the year ended December 31, 2015. For the year, the company reported net income of $2.058 million or $2.14 per share as compared to $2.173 million or $2.27 per share a year ago. The earnings decrease for 2015 of 5.27% is primarily attributed to a reduced amount of non-recurring gains on securities and investments as compared to the prior year, as well as some general increases in various operating expenses.
Pioneer Bankshares, Inc. is the one-bank holding company of Pioneer Bank, Inc. (the Bank). The Bank is engaged in the general commercial banking business, primarily serving the counties of Page, Greene, Rockingham, and Albemarle, Virginia. The Bank offers a full range of banking and related financial services focused primarily towards serving individual consumers, small to medium size commercial businesses, and the professional community. The Bank provides individual consumers, professionals and small and medium-sized commercial businesses in its market area with responsive and technologically advanced banking services. The Bank operates a small finance company known as Valley Finance Services, a Division of Pioneer Bank, which specializes in consumer and dealer auto lending. The Bank strives to serve the banking needs of its customers while developing personal, hometown relationships. The Bank also operates a small Business Banking Center in Harrisonburg, VA.
PIONEER BANKSHARES, INC. 