Quarterly ResultJul 30, 2026, 04:23 PM
Pioneer Bancorp Q2 Net Income $3.5M, EPS $0.14
AI Summary
Pioneer Bancorp, Inc. reported net income of $3.5 million, or $0.14 per basic and diluted share, for the second quarter of 2026, a decrease from $6.5 million, or $0.26 per share, in the prior year period. Despite the decline in net income, the company saw strong growth in net interest income, which rose 16.5% to $22.9 million, and an increase in net interest margin to 4.30%. The quarter was also marked by significant strategic expansion through the acquisitions of Targeted Lending Co., Reiser Consulting Group, Wyndham Benefits, and The College Advisor of New York, aimed at diversifying revenue streams and expanding capabilities.
Key Highlights
- Net income for Q2 2026 was $3.5 million, or $0.14 per basic and diluted share.
- Net interest income for Q2 2026 increased 16.5% to $22.9 million.
- Net interest margin for Q2 2026 increased 17 basis points to 4.30%.
- Net loans receivable grew 13.6% to $1.87 billion at June 30, 2026.
- Deposits increased 13.2% to $1.97 billion at June 30, 2026.
- Completed acquisitions of Targeted Lending Co., Reiser Consulting Group, Wyndham Benefits, and The College Advisor of New York.
- Noninterest expense for Q2 2026 increased 50.6% to $22.2 million.
- Repurchased 231,609 shares of common stock at an average price of $14.84 per share in Q2 2026.
Price Impact
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