Pioneer Bancorp, Inc. Announces Earnings Results for the First Quarter Ended September 30, 2020
November 12, 2020 at 09:56 pm
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Pioneer Bancorp, Inc. announced earnings results for the first quarter ended September 30, 2020. For the quarter, the company announced net interest income was USD 10.350 million compared to USD 13.258 million a year ago. Net income was USD 1.394 million compared to net loss of USD 12.684 million a year ago. Basic earnings per share from continuing operations was USD 0.06 compared to basic loss per share from continuing operations of USD 0.51 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. 
