Pioneer Bancorp Inc 2025年季度报告

FORM10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF1934For the quarterly period endedSeptember 30, 2025OR ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF1934For the transition period from _______ to _______ PIONEER BANCORP,INC. (Exact Name of Company as Specified in its Charter) Maryland001-3899183-4274253(State of Other Jurisdiction ofIncorporation)(Commission File No.)(I.R.S. Employer Identification No.) Securities registered pursuant to Section12(b)of the Act: Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of theSecurities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant wasrequired to file such reports), and (2)has been subject to such filing requirements for the past 90days. YES☒NO☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule405 of Regulation S-T (Section232.405 of this Chapter) during the preceding 12months(or for such shorter period that the registrant was required to submit such files). YES☒NO☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, asmaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “acceleratedfiler,” “smaller reporting company,” and “emerging growth company” in Rule12b-2 of the Exchange Act. Large accelerated filer☐Accelerated filer☒Non-accelerated filer☐Smaller reporting company☒Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extendedtransition period for complying with any new or revised financial accounting standards provided pursuant toSection13(a)of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).YES☐NO☒ As of November 4, 2025 there were25,080,547shares outstanding of the registrant’s common stock. PIONEER BANCORP,INC.INDEX PARTI- FINANCIAL INFORMATION3Item1– Consolidated Financial Statements-unaudited3Consolidated Statements of Condition3Consolidated Statements of Operations4Consolidated Statements of Comprehensive Income5Consolidated Statements of Changes in Shareholders’ Equity6Consolidated Statements of Cash Flows8Notes to Unaudited Consolidated Financial Statements9Item2- Management’s Discussion and Analysis of Financial Condition and Results of Operations41Item3– Quantitative and Qualitative Disclosures About Market Risk60Item4– Controls and Procedures60PARTII– OTHER INFORMATION60Item1– Legal Proceedings60Item1A– Risk Factors60Item2– Unregistered Sales of Equity Securities and Use of Proceeds61Item3– Defaults Upon Senior Securities61Item4– Mine Safety Disclosures61Item5– Other Information61Item6– Exhibits62 PARTI- FINANCIAL INFORMATION LiabilitiesDeposits:Non-interest bearing deposits$569,987$454,296Interest bearing deposits1,325,0441,131,887Total deposits1,895,0311,586,183Mortgagors’ escrow deposits4,0688,097Borrowings from Federal Home Loan Bank of New York—40,000Other liabilities30,01340,897Total liabilities1,929,1121,675,177 Shareholders’ EquityPreferred stock ($0.01par value,5,000,000shares authorized,noshares issued oroutstanding as of September30,2025 and December 31, 2024)——Common stock ($0.01par value,75,000,000shares authorized25,083,829and25,978,904shares issued and outstanding as of September30,2025 and December 31,2024, respectively)251260Additional paid in capital115,046114,113Retained earnings199,719194,188Unallocated common stock of Employee Stock Ownership Plan (“ESOP”)(9,039)(9,551)Accumulated other comprehensive income8,2215,543Total shareholders’ equity314,198304,553Total liabilities and shareholders’ equity$2,243,310$1,979,730 See accompanying notes to unaudited consolidated financial statements. See accompanying notes to unaudited consolidated financial statements. See accompanying notes to unaudited consolidated financial statements. 1.NATURE OF OPERATIONS Pioneer Bancorp, Inc. (the “Company”) is a mid-tier stock holding company whose whollyowned subsidiary is Pioneer Bank, National Association (the “Bank”). The Company provides diversified financial services through the Bank and its subsidiaries, with22offices in the Capital Region of New York State. The Company, through its subsidiaries, offers a broadarray of deposit, lending, and other financial services to individuals, businesses, and municipalities. The interim financial data as of September30,2025 and for the three and nine months endedSeptember30,2025 and 2024, respectively, is unaudited and reflects all normal recurring adjustments thatare, in the opinion of management, necessary for a fair presentation of the results for the interim periodspresented in conformance with accounting principles generally ac