Pioneer Bancorp IncMD

For the period ended Dec 31, 2023. Filed Feb 13, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Dec 31, 2023 · Filed Feb 13, 2024

PBFS$18.35+0.6%Stored close · as of Nov 6, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Statements of Operations

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)

(in thousands, except share and per share amounts)


· · For the Three Months Ended · · For the Six Months Ended ·
· · December 31, · · December 31, ·
· 2023 · 2022 · 2023 · 2022
Interest and dividend income: · · · ·
Loans	$17,722	$13,506	$34,255	$25,018
Securities	2,601	2,523	5,169	4,457
Interest-earning deposits with banks and other	1,163	1,950	2,218	3,695
Total interest and dividend income	21,486	17,979	41,642	33,170

Interest expense:
Deposits	5,087	632	9,042	1,038
Borrowings and other	305	212	617	324
Total interest expense	5,392	844	9,659	1,362
Net interest income	16,094	17,135	31,983	31,808
Provision for credit losses	1,120	(400)	1,870	(280)
Net interest income after provision for credit losses	14,974	17,535	30,113	32,088

Noninterest income:
Bank fees and service charges	1,498	1,469	2,944	3,039
Insurance and wealth management services	2,756	2,187	4,737	3,921
Net gain on equity securities	269	268	349	228
Net loss on securities available for sale transactions	(5,645)	—	(5,645)	—
Litigation-related income	5,950	—	5,950	—
Other	7	22	74	563
Total noninterest income	4,835	3,946	8,409	7,751

Noninterest expense:
Salaries and employee benefits	7,457	7,220	14,381	13,812
Net occupancy and equipment	1,901	1,841	3,732	3,552
Data processing	1,314	1,076	2,503	2,113
Advertising and marketing	212	294	353	435
Insurance premiums	226	226	465	457
Federal Deposit Insurance Corporation insurance premiums	270	153	532	324
Professional fees	2,844	1,098	5,430	1,871
Other	1,571	1,598	2,803	2,810
Total noninterest expense	15,795	13,506	30,199	25,374
Income before income taxes	4,014	7,975	8,323	14,465
Income tax expense	822	1,792	1,712	3,048
Net income	$3,192	$6,183	$6,611	$11,417

Net earnings per common share:
Basic	$0.13	$0.25	$0.26	$0.45
Diluted	$0.13	$0.25	$0.26	$0.45

Weighted average shares outstanding – basic and diluted	25,207,569	25,156,653	25,201,205	25,150,289

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.