Pioneer Bancorp, Inc. Reports Earnings Results for the Second Quarter Ended December 31, 2020
February 22, 2021 at 10:16 pm
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Pioneer Bancorp, Inc. announced earnings results for the second quarter ended December 31, 2020. For the second quarter, the company announced net interest income was USD 10.679 million compared to USD 12.553 million a year ago. Net income was USD 1.895 million compared to USD 3.850 million a year ago. Basic earnings per share from continuing operations was USD 0.08 compared to USD 0.15 a year ago. For the half year, net interest income was USD 21.030 million compared to USD 25.811 million a year ago. Net income was USD 3.289 million compared to USD 2.873 million a year ago. Basic earnings per share from continuing operations was USD 0.13 compared to USD 0.12 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. 
