**Pioneer Bancorp Reports Increased Net Income for Fiscal Year 2025**
Pioneer Bancorp, Inc. (PBFS) reported a net income of $20.3 million for the year ended December 31, 2025, a 32.9% increase compared to the $15.3 million reported for the fiscal year ended June 30, 2024. This increase was primarily driven by a $21.2 million rise in interest and dividend income, which reached $109.5 million, reflecting a higher average yield on interest-earning assets of 5.63% compared to 5.02% in the previous fiscal year. The company's total assets reached $2.15 billion, marking an 8.6% increase from $1.98 billion at the end of the previous fiscal year, largely due to growth in net loans receivable and cash equivalents.
The company's net interest income increased by 19.0% to $79.1 million, driven by both higher yields on earning assets and an increase in the volume of these assets. Interest expense also rose, reaching $30.4 million, due to increased deposit costs and higher average balances of interest-bearing liabilities. The provision for credit losses increased to $3.7 million, reflecting loan portfolio growth and changes in economic conditions, while net charge-offs remained low at 0.01% of average loans.
Strategic developments for Pioneer Bancorp included the formation of Pioneer Capital Markets, Inc., a broker-dealer subsidiary focused on municipal bond trading, which commenced operations in January 2026. Additionally, Pioneer Financial Services, Inc. acquired certain assets of Brown Financial Management Group, LLC, adding $73 million in assets under management. The company also repurchased 28,333 shares of its common stock at an average price of $14.56 per share under its second stock repurchase program.
As of December 31, 2025, Pioneer Bank, National Association, the company's primary subsidiary, remained well-capitalized, exceeding all regulatory capital requirements. The Tier 1 leverage ratio stood at 11.53%, while the Common Equity Tier 1, Tier 1, and Total Capital ratios were 16.30%, 16.30%, and 17.56%, respectively. The company's outlook remains focused on strategic growth through customer relationship deepening, commercial customer acquisition, and diversification of products and services to increase non-interest income.
About Pioneer Bancorp, Inc./MD
Pioneer Bancorp, Inc. operates primarily through Pioneer Bank, offering commercial real estate, industrial, construction, residential, and consumer loans. It serves the New York Capital Region, focusing on small-to-medium businesses and local communities. The company emphasizes relationship-driven lending, diversified loan portfolios, and prudent risk management, supported by investment in securities and wealth management services, with a core focus on community banking and financial stability.
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