Pioneer Bancorp Inc 2025年度报告

investors.pioneerny.com Dear Fellow Stockholders, As I reflect on the past year, it is clear that our industry continues to navigate a challenging operating environment. Margin compression,persistent funding pressures, and interest-rate uncertainty have impacted financial institutions across the country.At Pioneer, weanticipated these headwinds and executed with discipline: advancing our strategy to diversify revenue streams, continuing ourcommitment to engaged employees, deepening customer relationships, and strengthening our position asMore Than a Bank. Financial Highlights We were pleased to report Pioneer’s results for the year ended December 31, 2025, withnet income of $20.3 million, or $0.83 per basicand diluted share. We experienced positive momentum highlighted by record net interest income driven by strong growth in our loanportfolio and diversified deposit base, while prudently managing funding costs. Net interest income was $79.1 million and noninterestincome was $17.1 million for the year ended December 31, 2025. Net loans receivable of $1.65 billion at December 31, 2025 was up 14.8% from December 31, 2024. Deposits totaled $1.74 billion atDecember 31, 2025 and were up 9.6% from December 31, 2024. We also remained focused on growing noninterest income through ourdiversified products and services, and generated 14% of our revenues from noninterest income sources for the year ended December 31,2025. We remain committed to maintaining a strong liquidity position and our earnings for the year ended December 31, 2025 allowed us tocontinue to build capital, while returning value to our stockholders through our stock repurchase program. During 2025 we completedour initial stock repurchase program, repurchasing 1,298,883 shares at an average price of $11.83 per share, and on December 17, 2025adopted a new stock repurchase program. Expanding Our “More Than a Bank” Strategy This year marked a significant milestone in that journey. We launched two new lines of business:Pioneer Human ResourcesConsulting, which complements our existing array of banking, insurance, employee benefits, and wealth management services to helpour clients thrive beyond traditional banking; andPioneer Capital Markets, a new broker-dealer division focused on municipal bondtrading that commenced operations in January 2026. These additions reflect our commitment to diversifying revenue streams andposition Pioneer for continued financial stability. We also advancedPioneer Wealth Managementthrough the acquisition of BrownFinancial Management Group, expanding our advisory capabilities and reinforcing our role as a comprehensive financial resource forindividuals and businesses alike. We will continue to evaluate strategic opportunities for organic growth and selective acquisitions. Commercial Lending and Small Business Growth Despite a competitive lending environment, Pioneer delivered strong results in commercial loan production and small business lending,supporting economic growth throughout the Capital Region of New York. Our ability to provide tailored solutions for entrepreneurs andestablished businesses remains a cornerstone of our success. Engaged Employees and Community Impact Our business model and success begin withhighly engaged employeeswho deliver exceptional service. Their dedication drivesinnovation and strengthens customer loyalty. To support them and our customers, we have invested in significant branch renovations atour Latham, Guilderland, and Rotterdam locations and construction is underway on a new Clifton Park location scheduled to open in2026. Equally important is our commitment to community impact. Through Pioneer’sCharitable Foundation, we surpassed a majormilestone in 2025, exceeding $2 million in total contributions to local nonprofits that enrich the lives of children and families since theCharitable Foundation’s inception. Recognition and Accolades I am proud to share that we were named toFortune’s100 Fastest-Growing Companieslist and recognized byBank Director’sRankingBankingreport as one of the nation’s top-performing banks under $5 billion in assets. These honors validate our strategy andunderscore the strength of our team. Looking Ahead While the operating environment remains dynamic, our long-term focus is unwavering: to deliver sustainable growth, enhancestockholder value, and build a company that is trulyMore Than a Bank. Thank you for your continued trust and support as we moveAll Together Forward. Together, we are shaping a future defined by resilience, innovation, and community impact. Sincerely, Thomas L. AmellPresident & Chief Executive Officer Washington, D.C. 20549 FORM 10-K Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes☐No☒ Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of