Every 8-K that Pioneer Bancorp, Inc. (PBFS) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow PBFS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PBFS filings page.
Pioneer Bancorp, Inc. filed an amendment to provide full financial statements and unaudited pro forma data for its completed acquisition of Targeted Lending Co., LLC. Pioneer Bank, through subsidiary Targeted Lending Holdings, acquired 100% of Targeted Lending’s membership interests for a base purchase price of approximately $54 million, with total preliminary consideration of $124,441 (dollars in thousands) including $122,841 cash paid and $1,600 contingent consideration.
The preliminary purchase price allocation assigns Targeted Lending identifiable net assets of $108,733 (dollars in thousands), including loans net of allowance of $104,086, technology intangibles of $1,200, and customer relationship intangibles of $8,100, with resulting goodwill of $15,708 (dollars in thousands). On a pro forma basis as of December 31, 2025, combined total assets are $2,280,992 (dollars in thousands) and loans receivable are $1,778,220 (dollars in thousands). Pro forma net income for 2025 is $21,214 (dollars in thousands), with basic and diluted earnings per share of $0.87 and $0.86, respectively.
Pioneer Bancorp, Inc. reported net income of $3.5 million, or $0.14 per share, for the quarter ended June 30, 2026, down from $6.5 million, or $0.26 per share, a year earlier. Six‑month net income was $8.8 million, or $0.36 per share, versus $12.2 million, or $0.49 per share.
Net interest income grew to $22.9 million for the quarter from $19.6 million, and net interest margin improved to 4.30% from 4.13%, driven by higher yields on interest‑earning assets and loan growth, including loans from the Targeted Lending acquisition. Noninterest income also increased, but noninterest expense rose sharply to $22.2 million from $14.7 million, reflecting higher professional fees, compensation from added staff, and litigation‑related costs, pushing the efficiency ratio to 78.33%.
Total assets reached $2.36 billion and deposits $1.97 billion at June 30, 2026, with non‑performing assets at $9.4 million, or 0.40% of total assets. Tier 1 leverage capital was 9.97%. The company completed several acquisitions, including Targeted Lending in an approximately $140 million all‑cash transaction, and repurchased 231,609 shares at an average price of $14.84.
Pioneer Bancorp, Inc. announced that on July 29, 2026 it acquired The College Advisor of New York and launched a dedicated College Advising Division. The acquired firm focuses on helping families manage college search, admissions and affordability decisions through personalized guidance.
Founder Dr. Dean Skarlis becomes Vice President of College Advising and will lead the new division with his existing team, integrating college planning with financial strategy for high school students and their parents. The move builds on Pioneer’s More Than a Bank strategy by extending services beyond traditional banking into education-focused advisory offerings.
Pioneer is a financial holding company with more than $2 billion in assets and 23 offices in New York’s Capital Region, providing diversified financial services through multiple subsidiaries.
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.
Pioneer Bancorp, Inc. reported the results of its Annual Meeting of Stockholders held on May 19, 2026. Stockholders elected three directors to three-year terms, with Stacy Hengsterman receiving 20,648,868 votes for, Dr. James K. Reed 19,989,694 for, and Edward Reinfurt 20,134,659 for.
Two additional proposals described in the April 7, 2026 proxy statement were also approved. One proposal received 22,509,721 votes for, 27,327 against and 28,193 abstentions, while another received 21,138,783 votes for, 273,291 against and 57,584 abstentions, with 1,095,583 broker non-votes on certain items.
Pioneer Bancorp, Inc. reported first quarter 2026 net income of $5.3 million, or $0.22 per diluted share, down from $5.8 million and $0.23 a year earlier. Net interest income rose to $20.8 million, with net interest margin improving to 4.21% from 4.12%, as higher loan yields more than offset modestly higher funding costs.
Noninterest expense increased to $18.1 million, up 24.2%, driven by higher professional fees, salaries and a net increase in litigation-related expense, which pushed the efficiency ratio to 73.64% from 63.97%. Total assets reached $2.22 billion, including $1.70 billion of net loans and $1.85 billion of deposits, while non-performing assets declined to 0.40% of total assets.
Pioneer completed the approximately $140 million all-cash acquisition of Targeted Lending, adding about $120 million of loans and creating a new Specialty Financing division, and also acquired Reiser Consulting Group and Wyndham Benefits to expand its employee benefits business. Capital remained strong, with a Tier 1 leverage ratio of 11.56% and an effective tax rate of 7.3% for the quarter.
Pioneer Bancorp, Inc. completed an all-cash acquisition of Targeted Lending Co., LLC on April 24, 2026, creating a new Pioneer Specialty Financing division. The transaction is valued at approximately $140 million in enterprise value and adds a nationwide equipment financing platform with about $120 million of loans.
Pioneer, through subsidiary Targeted Lending Holdings, LLC, paid a base purchase price of about $54 million for 100% of Targeted Lending’s membership interests and repaid roughly $88 million of Targeted Lending’s credit facility debt at closing. Key Targeted Lending employees can earn up to $3 million in performance-based earn-out payments over three years.