Pioneer Bancorp, Inc. Reports Earnings Results for the Third Quarter Ended March 31, 2021
May 14, 2021 at 09:06 pm
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Pioneer Bancorp, Inc. announced earnings results for the third quarter ended March 31, 2021. For the third quarter, the company announced net interest income was USD 10.502 million compared to USD 12.053 million a year ago. Net income was USD 1.341 million compared to USD 849,000 a year ago. Basic earnings per share from continuing operations was USD 0.05 compared to USD 0.03 a year ago. For the nine months, net interest income was USD 31.532 million compared to USD 37.865 million a year ago. Net income was USD 4.630 million compared to USD 3.722 million a year ago. Basic earnings per share from continuing operations was USD 0.18 compared to USD 0.15 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. 
