Pioneer Bancorp, Inc./MD (PBFS) Form 8-K — Oct 30, 2026
Pioneer Bancorp (NASDAQ: PBFS) reported Q3 2026 net income of just $85,000 ($0.00 per share), down sharply from $4.3 million ($0.18 per share) a year earlier, driven by a $6.2 million litigation settlement expense. The headline miss masks strong underlying momentum: net interest income rose 16.9% to $23.6 million, net interest margin expanded 10 basis points to 4.26%, loans grew 17.6% and deposits 22.5% year-to-date, aided by the Targeted Lending acquisition.
Key figures
- Eps
- $0.00 basic and diluted for Q3 2026; $0.37 basic / $0.36 diluted for nine months
- Revenue
- Q3 net interest income of $23.6 million
- Net Income
- $85,000 Q3 2026 vs $4.3 million Q3 2025; $8.9 million nine months 2026 vs $16.5 million nine months 2025
- Total Debt
- $2.13 billion deposits
- Revenue Yoy
- +16.9% Q3 net interest income
- Total Assets
- $2.60 billion
- Cash Position
- $235.9 million
- Deposits
- $2.13 billion (+22.5% YTD)
- Litigation expense
- $6.2 million
- Net charge offs q3
- $1.1 million
- Efficiency ratio q3
- 95.24%
- Net interest margin
- 4.26% Q3 2026 (up 10 bps YoY)
- Shareholders equity
- $323.3 million
- Net loans receivable
- $1.94 billion (+17.6% YTD)
- Nonperforming assets
- $10.8 million (0.42% of total assets)
- Tier1 leverage ratio
- 9.59%
- Noninterest income q3
- $5.5 million (+44.3% YoY)
- Noninterest expense q3
- $27.7 million (+57.4% YoY)
- Allowance for credit losses
- $28.3 million (1.44% of loans)
AI analysis
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