Pioneer Bancorp (PBFS) investor relations material

Executive summary

• Q3 net income was $85K versus $4.33M YoY as higher litigation-related and professional expenses outweighed stronger net interest and noninterest income.

• Q3 net interest income rose 16.9% to $23.6M; 9M net income was $8.9M versus $16.5M YoY, with elevated legal and litigation costs the main drag.

• Management cited net interest income and margin growth, loan and deposit expansion, and funding-cost discipline, while noting Q3 resolution costs.

Financial highlights

• Q3 interest and dividend income rose 19.1% to $33.7M, interest expense rose 24.6% to $10.1M, and provision for credit losses was $1.3M versus $785K.

• Q3 noninterest income increased 44.3% to $5.5M; noninterest expense rose 57.4% to $27.7M, including $6.2M in litigation-related expense and $5.9M in professional fees.

• 9M net interest income rose 14.1% to $67.2M, noninterest income increased 20.1% to $14.8M, and noninterest expense climbed 44.9% to $68.0M.

• Total assets reached $2.60B, up 20.8% from year-end 2025; net loans rose 17.6% to $1.94B and deposits increased 22.5% to $2.13B.

• Cash and cash equivalents increased 76.4% to $235.9M; shareholders' equity was $323.3M, down 0.2% from year-end.

Outlook and guidance

• Strategic priorities include growth in key markets, disciplined lending, revenue diversification, expanded products and services, client service, and advancing the “More Than a Bank” strategy; no quantitative earnings outlook was stated.

• Liquidity was considered sufficient for short- and long-term needs; $655.7M of FHLBNY borrowing capacity was available, with $75.0M drawn and $439.0M supporting municipal-deposit letters of credit.