Quarterly ResultApr 30, 2026, 04:48 PM
PBFS Acquires Targeted Lending, Reiser, Wyndham; Q1 Net Income $5.3M
AI Summary
Pioneer Bancorp, Inc. (PBFS) reported Q1 2026 net income of $5.3 million, or $0.22 per basic and diluted share, a decrease from $5.8 million in Q1 2025. The company announced the completion of three acquisitions: Targeted Lending Co., LLC, Reiser Consulting Group, Inc., and Wyndham Benefits, LLC, expanding its specialty financing and employee benefits divisions. Key financial highlights include growth in net loans receivable by 3.3% to $1.70 billion and deposits by 6.5% to $1.85 billion from December 31, 2025. Net interest income increased by 8.7% to $20.8 million, and net interest margin rose by 9 basis points to 4.21%.
Key Highlights
- Acquired Targeted Lending Co., LLC for $140M, launching a national Specialty Financing division.
- Acquired Reiser Consulting Group, Inc. and Wyndham Benefits, LLC, expanding employee benefits services.
- Q1 2026 net income was $5.3 million, down from $5.8 million in Q1 2025.
- Basic and diluted EPS was $0.22, down from $0.23 in Q1 2025.
- Net loans receivable grew 3.3% to $1.70 billion at March 31, 2026.
- Deposits increased 6.5% to $1.85 billion at March 31, 2026.
- Net interest income rose 8.7% to $20.8 million for Q1 2026.
- Net interest margin increased 9 basis points to 4.21% for Q1 2026.