Pioneer Bancorp FY2024 net income $15.3M ($0.61/share) down 30% from $21.9M prior year

Pioneer Bancorp, Inc./MD

2024-FY EPS reported $0.61 revenue$14,953,000

FY2024 net income $15.3M vs $21.9M; diluted EPS $0.61 vs $0.87. Q4 net income $3.9M ($0.16).
Net loans receivable up 17.5% to $1.34B; non-performing assets improved to 0.49% of assets.
Net interest income $66.5M (+1.5%); net interest margin 3.78% (+6 bps); provision for credit losses $2.7M.
Noninterest income up 15.4% to $16.3M from litigation settlement and wealth mgmt acquisition; noninterest expense up 17.2% to $60.7M.
Repurchased 106,386 shares at avg $9.97 in Q4 under new 5% buyback program; $1.1M total spent.

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