secwatch.observer — SEC 8-K summary
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Issuer:     Pioneer Bancorp, Inc./MD (PBFS)
CIK:        0001769663
Form:       8-K
Filed at:   2024-02-07T23:59:59+00:00
Accession:  0001558370-24-000858
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1769663/000155837024000858/0001558370-24-000858-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1769663/000155837024000858/pbfs-20240207x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-000858

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