Pioneer Bancorp IncMD
For the period ended Mar 31, 2024. Filed May 13, 2024.
View on SEC.govAbout 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.
Mar 31, 2024 · Filed May 13, 2024
PBFS$18.54+1.0%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations
CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)
(in thousands, except share and per share amounts)
| | | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · For the Three Months Ended · · For the Nine Months Ended · | |||||||||||||
| · · March 31, · · March 31, · | |||||||||||||
| · 2024 · 2023 · 2024 · 2023 | |||||||||||||
| Interest and dividend income: · · · · | |||||||||||||
| Loans | | $18,740 | | $14,658 | | $52,996 | | $39,676 | | ||||
| Securities | | 2,341 | | 2,624 | | 7,510 | | 7,081 | | ||||
| Interest-earning deposits with banks and other | | 2,034 | | 1,497 | | 4,252 | | 5,192 | | ||||
| Total interest and dividend income | | 23,115 | | 18,779 | | 64,758 | | 51,949 | | ||||
| | | | | | | | | | | | | | |
| Interest expense: | | | | | | ||||||||
| Deposits | | 5,536 | | 1,049 | | 14,578 | | 2,087 | | ||||
| Borrowings and other | | 248 | | 214 | | 865 | | 538 | | ||||
| Total interest expense | | 5,784 | | 1,263 | | 15,443 | | 2,625 | | ||||
| Net interest income | | 17,331 | | 17,516 | | 49,315 | | 49,324 | | ||||
| Provision for credit losses | | 80 | | — | | 1,950 | | (280) | | ||||
| Net interest income after provision for credit losses | | 17,251 | | 17,516 | | 47,365 | | 49,604 | | ||||
| | | | | | | | | | | | | | |
| Noninterest income: | | | | | | ||||||||
| Bank fees and service charges | | 1,501 | | 1,398 | | 4,445 | | 4,437 | | ||||
| Insurance and wealth management services | | 2,298 | | 1,715 | | 7,035 | | 5,636 | | ||||
| Net gain (loss) on equity securities | | 386 | | (59) | | 735 | | 170 | | ||||
| Net loss on securities available for sale transactions | | | — | | | — | | | (5,645) | | | — | |
| Litigation-related income | | | — | | | — | | | 5,950 | | | — | |
| Other | | 49 | | 196 | | 122 | | 758 | | ||||
| Total noninterest income | | 4,234 | | 3,250 | | 12,642 | | 11,001 | | ||||
| | | | | | | | | | | | | | |
| Noninterest expense: | | | | | | ||||||||
| Salaries and employee benefits | | 7,387 | | 7,068 | | 21,768 | | 20,881 | | ||||
| Net occupancy and equipment | | 1,912 | | 1,912 | | 5,644 | | 5,464 | | ||||
| Data processing | | 1,065 | | 1,143 | | 3,569 | | 3,256 | | ||||
| Advertising and marketing | | 164 | | 176 | | 517 | | 611 | | ||||
| Insurance premiums | | | 221 | | | 225 | | | 686 | | | 682 | |
| Federal Deposit Insurance Corporation insurance premiums | | 271 | | 244 | | 803 | | 568 | | ||||
| Professional fees | | | 3,102 | | | 1,202 | | | 8,532 | | | 3,073 | |
| Other | | 1,307 | | 1,128 | | 4,109 | | 3,936 | | ||||
| Total noninterest expense | | 15,429 | | 13,098 | | 45,628 | | 38,471 | | ||||
| Income before income taxes | | 6,056 | | 7,668 | | 14,379 | | 22,134 | | ||||
| Income tax expense | | 1,337 | | 1,644 | | 3,049 | | 4,693 | | ||||
| Net income | | $4,719 | | $6,024 | | $11,330 | | $17,441 | | ||||
| | | | | | | | | | | | | | |
| Net earnings per common share: | | | | | | | | | | | | | |
| Basic | | $0.19 | | $0.24 | | $0.45 | | $0.69 | | ||||
| Diluted | | $0.19 | | $0.24 | | $0.45 | | $0.69 | | ||||
| | | | | | | | | | | | | | |
| Weighted average shares outstanding – basic and diluted | | | 25,220,299 | | | 25,169,382 | | | 25,213,934 | | | 25,163,018 | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.