Spotlight News: Pioneer Bancorp Reports $6.3M quarterly net income, marks strong growth across assets and loans
11.30.24
"Pioneer Bancorp, Inc., a major financial institution in New York’s Capital Region, announced quarterly financial results for the period ending September 30, showing significant growth and a net income of $6.3 million.
This quarter marks the first of a six-month transition period as the company shifts its fiscal year-end to December 31.
The quarterly net income of $6.3 million, or $0.25 per share, represents an increase from $3.4 million, or $0.14 per share, in the same period last year. Key drivers included a rise in net interest income and a reduction in non-performing assets.
'We are pleased to report strong results,' said Thomas Amell, Pioneer’s President and CEO, noting the company’s continued emphasis on customer relationships and its 'More Than a Bank strategy as critical to growth."