Veteran banker Michael Keegan joins Pioneer Bancorp (NASDAQ: PBFS) board
Rhea-AI Filing Summary
Pioneer Bancorp, Inc. appointed Michael T. Keegan, a recently retired banking executive, to its Board of Directors effective July 21, 2026. He is expected to join the Board’s Audit and Compensation Committees, and will be eligible to participate in the 2020 Equity Incentive Plan and the Pioneer Bank Board of Trustees and Executive Employees Deferred Compensation Plan. The company states there are no related-party transactions or special arrangements connected with his selection.
Keegan previously served as Senior Executive Vice President and Head of Community Banking at M&T Bank, retiring in 2025 after 31 years and more than four decades in commercial and community banking, strategic growth, and community development. Pioneer describes itself as a financial holding company with more than $2 billion in assets, operating 23 offices in New York’s Capital Region through Pioneer Bank, National Association, and providing banking, insurance, employee benefits, human resources consulting, wealth management, equipment finance, and municipal bond trading services.
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8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Total assets: more than $2 billion
Branch offices: 23 offices
Service at M&T Bank: 31 years
+1 more
4 metrics
Total assets
more than $2 billion
Pioneer describes itself as a financial holding company with this asset base
Branch offices
23 offices
Banking operations in the Capital Region of New York State
Service at M&T Bank
31 years
Mr. Keegan’s tenure at M&T Bank before retiring in 2025
Executive experience
more than four decades
Mr. Keegan’s executive leadership experience in banking and community development
Key Terms
Equity Incentive Plan, Deferred Compensation Plan, financial holding company, forward-looking statements, +1 more
5 terms
Equity Incentive Plan financial
"He will be eligible to participate in Pioneer’s 2020 Equity Incentive Plan"
An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.
Deferred Compensation Plan financial
"Pioneer Bank Board of Trustees and Executive Employees Deferred Compensation Plan"
A deferred compensation plan is an arrangement where an employer agrees to pay part of an employee’s pay or bonus at a later date instead of immediately, often to reduce current tax bills or to tie rewards to long-term performance. For investors it matters because these promises create future cash obligations and influence executive incentives and retention; they can affect a company’s reported liabilities, cash flow planning and the risk profile if the business faces financial trouble.
financial holding company financial
"Pioneer Bancorp, Inc. is a financial holding company with more than $2 billion in assets"
A financial holding company is a parent firm that owns and oversees banks and other financial businesses, such as lending, insurance, or investment services. It matters to investors because it bundles several money-making activities under one roof—like a parent managing several children—so returns, risks, and regulatory rules for banking apply to the whole group; trouble in one unit can affect the company’s profits, capital needs, and dividends.
forward-looking statements regulatory
"Certain of the matters discussed in this communication constitute forward-looking statements"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
broker-dealer financial
"Pioneer Capital Markets, Inc., is a FINRA-registered broker-dealer focused on municipal bond trading"
A broker-dealer is a licensed firm or individual that both executes trades on behalf of clients (acting as a broker) and buys or sells securities for its own account (acting as a dealer). Investors care because broker-dealers provide the plumbing of markets — they place orders, hold or move cash and securities, offer research or advice, and their stability and fees directly affect trade execution, costs, and the safety of client funds; think of them as a combined travel agent and taxi for your investments.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What board change did Pioneer Bancorp (PBFS) announce on July 21, 2026?
Pioneer Bancorp announced the appointment of Michael T. Keegan to its Board of Directors effective July 21, 2026. He is expected to serve on the Audit and Compensation Committees and joins the boards of related Pioneer entities.
Who is Michael T. Keegan, the new director at Pioneer Bancorp (PBFS)?
Michael T. Keegan is a recently retired banking executive with more than four decades of leadership experience. He most recently was Senior Executive Vice President and Head of Community Banking at M&T Bank, where he worked for 31 years before retiring in 2025.
What board committees is Michael T. Keegan expected to join at Pioneer Bancorp (PBFS)?
Michael T. Keegan is expected to be appointed to Pioneer’s Audit Committee and Compensation Committee. He has also been appointed to the Boards of Trustees/Directors of Pioneer Bancorp, MHC and Pioneer Bank, National Association.
What compensation plans will Michael T. Keegan be eligible for at Pioneer Bancorp (PBFS)?
As a director, Michael T. Keegan will be eligible to participate in Pioneer’s 2020 Equity Incentive Plan and the Pioneer Bank Board of Trustees and Executive Employees Deferred Compensation Plan, aligning his compensation with long-term company and stakeholder interests.
How large is Pioneer Bancorp (PBFS) and where does it operate?
Pioneer Bancorp describes itself as a financial holding company with more than $2 billion in assets. Its banking subsidiary operates 23 offices in New York’s Capital Region, offering banking, insurance, benefits, HR consulting, wealth management, equipment finance, and municipal bond trading.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): July 21, 2026
(Exact Name of Registrant as Specified in Charter)
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| of Incorporation) | | | Identification No.) | ||||
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Registrant’s telephone number, including area code: (518 ) 730-3025
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
| | | |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
2
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(d) On July 21, 2026, the Board of Directors of Pioneer Bancorp, Inc. (“Pioneer”) appointed Michael T. Keegan to its Board of Directors. Mr. Keegan is a recently retired banking executive with more than four decades of executive leadership experience in commercial banking, community banking, strategic growth, and community development. He most recently served as Senior Executive Vice President and Head of Community Banking at M&T Bank, where he was responsible for advancing community engagement and market-level strategies across the bank's footprint. Mr. Keegan retired from M&T Bank in 2025 after 31 years of service, concluding a distinguished career marked by leadership, community engagement, and a strong commitment to regional economic development. Mr. Keegan is a Co-Founder of In Medio Advisors, LLC and a Partner in Innovative Micro Grid Technologies.
Mr. Keegan is not a party to any transaction with Pioneer that would require disclosure under Item 404(a) of Regulation S-K. There are no arrangements or understandings between Mr. Keegan and any other persons pursuant to which he was selected as a director. He will be eligible to participate in Pioneer’s 2020 Equity Incentive Plan and the Pioneer Bank Board of Trustees and Executive Employees Deferred Compensation Plan.
Mr. Keegan is expected to be appointed to the Audit and Compensation Committees of Pioneer’s Board of Directors. Mr. Keegan has also been appointed to the Boards of Trustees/Directors of Pioneer Bancorp, MHC and Pioneer Bank, National Association.
A press release announcing the appointment of Mr. Keegan is attached as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01
Financial Statements and Exhibits
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(a)
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Financial statements of businesses acquired. None.
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(b)
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Pro forma financial information. None.
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(c)
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Shell company transactions: None.
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(d)
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Exhibits.
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99.1
104
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Press release dated July 23, 2026
Cover Page Interactive Data File (embedded in the cover page formatted in Inline XBRL)
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
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PIONEER BANCORP, INC.
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DATE: July 23, 2026
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By:
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/s/ Patrick J. Hughes
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Patrick J. Hughes
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Executive Vice President and Chief Financial Officer
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Exhibit 99.1
652 Albany Shaker Road, Albany, NY 12211
News Release
FOR IMMEDIATE RELEASE:
Pioneer Bancorp, Inc. Appoints Michael T. Keegan to its Board of Directors
Albany, N.Y. – July 23, 2026 – Pioneer Bancorp, Inc. (“Pioneer”) (NASDAQ: PBFS), a leading financial institution in New York’s Capital Region, today announced the appointment of Michael T. Keegan to its Board of Directors.
Mr. Keegan is a recently retired banking executive with more than four decades of executive leadership experience in commercial banking, community banking, strategic growth, and community development. He most recently served as Senior Executive Vice President and Head of Community Banking at M&T Bank, where he was responsible for advancing community engagement and market-level strategies across the bank's footprint. Mr. Keegan retired from M&T Bank in 2025 after 31 years of service, concluding a distinguished career marked by leadership, community engagement, and a strong commitment to regional economic development. Mr. Keegan is a Co-Founder of In Medio Advisors, LLC and a Partner in Innovative Micro Grid Technologies.
"We are thrilled to have Mike join our board of directors," said Thomas Amell, President and CEO of Pioneer. "His extensive banking expertise, commitment to community engagement, and deep understanding of our regional market will provide a valuable perspective as we continue to execute our long-term growth strategy and serve our customers, communities and shareholders. Mike is widely respected throughout the banking industry and the Capital Region business community."
"Strong financial institutions create lasting value when they remain focused on the communities they serve while continuing to adapt and grow," said Mr. Keegan. "Pioneer has demonstrated that balance throughout history, and I am honored to contribute to that mission as a member of the Board of Directors."
Prior to joining M&T Bank in 1994, Mr. Keegan held positions with HSBC, Fleet Bank, and Farm Credit Bank. He earned a bachelor's degree from the University of Massachusetts Amherst and an MBA from Union College. Throughout his career, he has been actively involved in numerous civic, educational, and business organizations.
Mr. Keegan is expected to be appointed to the Audit and Compensation Committees of Pioneer’s Board of Directors. Mr. Keegan has also been appointed to the Boards of Trustees/Directors of Pioneer Bancorp, MHC and Pioneer Bank, National Association.
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About Pioneer
Pioneer Bancorp, Inc. (“Pioneer”) is a financial holding company with more than $2 billion in assets that provides diversified financial services through its subsidiaries. Pioneer’s subsidiary, Pioneer Bank, National Association and its subsidiaries, with 23 offices in the Capital Region of New York State, offers a broad array of banking, insurance, employee benefit, human resources consulting, and wealth management services to individuals, businesses, and municipalities. Pioneer’s subsidiary, Targeted Lending Co., LLC, through its originator-centric equipment finance platform provides financing solutions nationwide for essential income-producing equipment to small and mid-sized businesses across diverse industries. Pioneer’s subsidiary, Pioneer Capital Markets, Inc., is a FINRA-registered broker-dealer focused on municipal bond trading. For more information on Pioneer, please visit www.pioneerny.com.
Cautionary Statement Concerning Forward-Looking Statements
Certain of the matters discussed in this communication constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are generally identified by use of the words “believe,” “expect,” “intend,” “anticipate,” “estimate,” “project” or similar expressions, or future or conditional verbs, such as “will,” “would,” “should,” “could,” or “may.” Pioneer’s ability to predict results or the actual effect of future plans or strategies is inherently uncertain. No assurance can be given that the future results covered by forward-looking statements will be achieved. These statements are based on the current expectations of our management, and it is important to note that our actual results could be materially different from those projected in such forward-looking statements. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including those discussed in our annual report on Form 10-K for the year ended December 31, 2025, under the heading “Risk Factors” and other filings made with the SEC, including our quarterly reports on Form 10-Q. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this communication, unless noted otherwise. Except as required under the federal securities laws and the rules and regulations of the SEC, Pioneer does not undertake any obligation to release publicly any revisions to the forward-looking statements to reflect events or circumstances after the date of this communication or to reflect the occurrence of unanticipated events.
For additional information contact:
Patrick J. Hughes
Executive Vice President and Chief Financial Officer
(518) 730-3025
InvestorRelations@pioneerny.com