Pioneer Bancorp Q2 net income falls 48% to $3.2M; net interest margin narrows, loan growth 10.5%

Pioneer Bancorp, Inc./MD

2024-Q2 EPS reported $0.26 revenue$7,657,000

Net income $3.2M ($0.13 EPS) vs $6.2M ($0.25) a year ago; six-month net income $6.6M vs $11.4M.
Net interest margin 3.70% (down 15 bps YoY); net interest income $16.1M (down 6.1%).
Loans grew 10.5% to $1.26B; non-performing assets improved to 0.65% of assets.
Recorded $6.0M litigation settlement income and $5.6M loss on securities sale from balance sheet repositioning.
Provision for credit losses increased to $1.1M (vs credit of $400k); expenses up 17%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Pioneer Bancorp, Inc./MD reported three and six months ended December 31, 2023 (second quarter of fiscal year ended June 30, 2024) results: net income $3.2 million, EPS $0.13 per share.

Period: three and six months ended December 31, 2023 (second quarter of fiscal year ended June 30, 2024)
Net income: $3.2 million
EPS: $0.13 per share
Result: reported results

Exact text from the filing

Pioneer Bancorp, Inc. Reports Second Quarter Fiscal 2024 Results Net Income of $3.2 Million

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Source: SEC EDGAR

accession 0001558370-24-000858

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