<span item_type="fundamental" item_id="39d90506f48fa86631b3975fe535dd39" counter_id="ST/US/PBFS" env="prod"></span><span item_type="announcement" item_id="625550104118169601" env="prod"></span><p>Revenue: As of FY2025, the actual value is USD 126.67 M.</p><p>EPS: As of FY2025, the actual value is USD 0.83.</p><p>EBIT: As of FY2025, the actual value is USD 56.87 M.</p><p></p><h4>Loan Portfolio Composition</h4><p>Total loans receivable increased to $1,671,560 thousand at December 31, 2025, from $1,456,329 thousand at December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span> Commercial real estate loans grew to $466,449 thousand (27.9% of total) in 2025 from $414,835 thousand (28.5%) in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span> Residential mortgages rose to $793,657 thousand (47.5%) from $689,569 thousand (47.3%) over the same period.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span> Commercial construction loans increased to $169,724 thousand (10.2%) in 2025 from $130,959 thousand (9.0%) in 2024, with undrawn amounts decreasing to $66.4 million from $80.6 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span></p><h4>Commercial Real Estate Loan Portfolio by Industry Sector</h4><p>At December 31, 2025, the commercial real estate loan portfolio totaled $466,449 thousand, with multi-family loans accounting for $127,923 thousand (27.4%).<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span> Non-owner occupied real estate comprised $236,861 thousand (50.8%), while owner-occupied real estate was $101,665 thousand (21.8%).<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span></p><h4>Loan Originations, Purchases, Participations and Sales</h4><p>Pioneer Bancorp, Inc. purchased $152.4 million of loans from the Mortgage Banking Company and $5.0 million of consumer loans from BHG Financial during 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span> Outstanding balances of loan participations where Pioneer Bancorp, Inc. is not the lead lender totaled $103.2 million at December 31, 2025, including $48.4 million in commercial or multi-family real estate loans and $52.8 million in construction loans.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span></p><h4>Delinquent Loans</h4><p>Loans 30-59 days past due decreased to $3,269 thousand at December 31, 2025, from $7,944 thousand in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span> However, loans 90 days or more past due significantly increased to $6,943 thousand in 2025 from $2,083 thousand in 2024, primarily due to a $4.4 million commercial real estate loan relationship.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span></p><h4>Non-Performing Assets</h4><p>Total non-accrual loans increased to $11,244 thousand at December 31, 2025, from $5,246 thousand in 2024, driven by $6,074 thousand in commercial real estate non-accruals in 2025 (up from $0 in 2024).<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span> Total non-performing assets rose to $11,250 thousand from $5,247 thousand, resulting in non-performing loans to total loans increasing to 0.67% from 0.36% and non-performing assets to total assets increasing to 0.52% from 0.27%.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span></p><h4>Classified Assets</h4><p>Total classified loans increased to $26,987 thousand at December 31, 2025, from $24,747 thousand in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span> Substandard loans rose to $26,068 thousand from $24,630 thousand, and doubtful loans increased to $919 thousand from $117 thousand, largely due to commercial real estate loan migrations.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span> Special mention loans increased to $7,404 thousand from $4,918 thousand, also due to loan migrations.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span></p><h4>Allowance for Credit Losses on Loans Activity</h4><p>The allowance for credit losses at the end of 2025 was $25,305 thousand, up from $21,754 thousand at the beginning of the period.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span> The provision for credit losses on loans for the year ended December 31, 2025, was $3,646 thousand, compared to $2,163 thousand for the fiscal year ended June 30, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span> Net charge-offs were $95 thousand for 2025, a decrease from $520 thousand in the prior fiscal year, resulting in a net charge-offs to average loans outstanding ratio of 0.01% for 2025 compared to 0.04% for 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span></p><h4>Allocation of Allowance for Credit Losses on Loans</h4><p>At December 31, 2025, commercial real estate accounted for $7,438 thousand (29.4%) of the total allowance, while residential mortgages represented $8,837 thousand (34.9%).<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span></p><h4>Investment Activities</h4><p>Securities available for sale totaled $218,596 thousand (amortized cost) and $220,431 thousand (fair value) at December 31, 2025, down from $324,731 thousand (amortized cost) and $321,537 thousand (fair value) in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span> Securities held to maturity increased to $41,973 thousand (amortized cost) and $40,175 thousand (fair value) in 2025 from $25,616 thousand (amortized cost) and $22,457 thousand (fair value) in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span></p><h4>Deposit Accounts</h4><p>Total deposits increased to $1,739,178 thousand at December 31, 2025, from $1,586,183 thousand in 2024, with an average rate of 2.34% in 2025 compared to 2.36% in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span> Non-interest-bearing demand accounts constituted 26.2% of total deposits in 2025, down from 28.7% in 2024, while money market accounts grew to 36.4% from 35.2%.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span> Certificates of deposit increased to 15.5% of total deposits in 2025 from 11.0% in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span> Retail deposits remained the largest depositor type at 53.9% in 2025, followed by municipal deposits at 26.0% and business deposits at 20.1%.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span> Uninsured deposits (after exclusions) increased to $289,274 thousand (16.6% of total deposits) in 2025 from $204,495 thousand (12.9%) in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span></p><h4>Borrowings</h4><p>FHLBNY Advances totaled $50.0 million at December 31, 2025, at a rate of 3.96%.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span> The company had $327.0 million in available funding capacity from FHLBNY at year-end 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span></p><h4>Non-Interest Income</h4><p>Total non-interest income increased to $17,140 thousand for the year ended December 31, 2025, from $16,330 thousand for the fiscal year ended June 30, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span> This was driven by increases in insurance and wealth management services to $10,103 thousand from $9,313 thousand, and bank fees and service charges to $5,965 thousand from $5,877 thousand.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span> The prior fiscal year included a net gain on equity securities of $735 thousand and litigation-related income of $5,950 thousand, which were not present in 2025, and a net loss on securities available for sale transactions of - $5,645 thousand.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span></p><h4>Non-Interest Expense</h4><p>Total non-interest expense increased to $66,104 thousand for the year ended December 31, 2025, from $60,734 thousand for the fiscal year ended June 30, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span> Salaries and employee benefits rose to $33,950 thousand from $29,225 thousand.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span> The company incurred a goodwill impairment loss of $2,000 thousand in 2025, compared to $0 in the prior fiscal year.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span></p><h4>Unique Metrics / Other Operational Data</h4><p>Pioneer Financial Services, Inc. (Wealth Management) managed $1.4 billion of assets at December 31, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span> Total assets for Pioneer Bancorp, Inc. grew by 8.6% to $2.15 billion at December 31, 2025, from $1.98 billion at December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span> Shareholders’ equity increased by 6.3% to $323.9 million from $304.6 million over the same period.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span></p><h4>Outlook / Guidance</h4><p>Pioneer Bancorp, Inc. plans to grow by strengthening customer relationships, focusing on commercial customer acquisition, and maintaining a balanced loan portfolio.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span> The company aims to increase non-interest income through product diversification and may pursue strategic acquisitions for market expansion.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span> Additionally, maintaining an engaged workforce and securing low-cost core deposits are key strategic priorities.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1769663/000110465926027092/pbfs-20251231x10k.htm"></span></p>

Pioneer Bancorp | 10-K: FY2025 Revenue: USD 126.67 M