Pioneer Bancorp IncMD
For the period ended Sep 30, 2024. Filed Nov 12, 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.
Sep 30, 2024 · Filed Nov 12, 2024
PBFS$18.31-1.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)
(in thousands)
| | | | | | | |
|---|---|---|---|---|---|---|
| · · For the Three Months Ended | ||||||
| · · September 30, | ||||||
| · 2024 · 2023 | ||||||
| · · · · · | ||||||
| Cash flows from operating activities: · · | ||||||
| Net income | | $6,308 | | $3,419 | ||
| Adjustments to reconcile net income to net cash provided by operating activities: | | | ||||
| Depreciation and amortization | | 629 | | 671 | ||
| Provision for credit losses | | (870) | | 750 | ||
| Net accretion on securities | | (582) | | (370) | ||
| ESOP compensation | | | 138 | | | 117 |
| Loss on bank-owned life insurance | | 37 | | 56 | ||
| Net gain on sale or write-down of other real estate owned | | (35) | | — | ||
| Proceeds from sale of loans | | 2,823 | | — | ||
| Net gain on sale of loans | | (29) | | — | ||
| Loss on sale, disposal or write-down of premise and equipment, net | | | 3 | | | — |
| Net gain on equity securities | | — | | (80) | ||
| Net gain on securities available for sale transactions | | | (165) | | | — |
| Stock-based compensation expense | | | 343 | | | — |
| Deferred tax expense | | 834 | | 37 | ||
| (Increase) decrease in accrued interest receivable | | (108) | | 70 | ||
| Increase in other assets | | (1,062) | | (156) | ||
| (Decrease) increase in other liabilities | | (6,356) | | 7,920 | ||
| Changes in operating leases | | | 3 | | | 8 |
| Net cash provided by operating activities | | 1,911 | | 12,442 | ||
| | | | | | | |
| Cash flows from investing activities: | | | ||||
| Proceeds from maturities, paydowns and calls of securities available for sale | | 34,745 | | 45,077 | ||
| Proceeds from sales of securities available for sale | | 350 | | — | ||
| Purchases of securities available for sale | | (37,174) | | (23,924) | ||
| Proceeds from maturities and paydowns of securities held to maturity | | 2,343 | | 1,617 | ||
| Purchases of securities held to maturity | | (1,796) | | (1,576) | ||
| Net purchases of FHLBNY and FRBNY stock | | (100) | | (38) | ||
| Net increase in loans receivable | | (57,753) | | (57,774) | ||
| Purchases of premises and equipment | | (120) | | (373) | ||
| Proceeds from sale of other real estate owned | | 188 | | — | ||
| Cash paid for acquisitions | | | — | | | (1,980) |
| Net cash used in investing activities | | (59,317) | | (38,971) | ||
| | | | | | | |
| Cash flows from financing activities: | | | ||||
| Net increase in deposits | | 125,028 | | 96,984 | ||
| Net decreases in mortgagors’ escrow deposits | | (5,847) | | (4,364) | ||
| Payments on acquisition contingent consideration | | | (750) | | | — |
| Repurchase of common stock | | | (1,215) | | | — |
| Repayment of finance lease liability | | | (26) | | | (25) |
| Net cash provided by financing activities | | 117,190 | | 92,595 | ||
| | | | | | | |
| Net increase in cash and cash equivalents | | 59,784 | | 66,066 | ||
| Cash and cash equivalents at beginning of period | | 165,190 | | 150,478 | ||
| Cash and cash equivalents at end of period | | $224,974 | | $216,544 | ||
| | | | | | | |
| Supplemental disclosure of cash flow information: | | | | |||
| Cash paid during the period for: | | | ||||
| Interest | | $6,503 | | $4,280 | ||
| Income taxes | | $1,000 | | $1,000 | ||
| Non-cash investing and financing activity: | | | | |||
| Acquisition contingent consideration payable | | $— | | $1,499 | ||
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