Weather Data Source: 30 days weather New York

Pioneer Bancorp Achieves Record Net Income in Q2

Article Sponsored by:

CMiC Global

CMIC Global Logo

Since 1974, CMiC has been a global leader in enterprise software for the construction industry. Headquartered in Toronto, Canada, CMiC delivers a fully integrated platform that streamlines project management, financials, and field operations.

With a focus on innovation and customer success, CMiC empowers construction firms to enhance efficiency, improve collaboration, and make data-driven decisions. Trusted by industry leaders worldwide, CMiC continues to shape the future of construction technology.

Read More About CMiC: 

A modern bank building representing Pioneer Bancorp's growth

News Summary

Pioneer Bancorp has reported a record net income of $6.5 million for the second quarter, marking a significant increase from the previous year. The growth in net loans receivable demonstrates the company’s strategic focus on expanding its lending capabilities, fueled by increased demand for mortgage and commercial construction loans. Furthermore, a diverse deposit base coupled with a share buyback program reflects Pioneer Bancorp’s commitment to enhancing shareholder value while sustaining financial momentum. As the company gears towards diversifying its revenue streams, its robust quarterly results underscore a strong relationship-driven model.

Pioneer Bancorp, Inc. Reports Strong Financial Results for Q2 2025

Pioneer Bancorp, Inc. has announced a record net income of $6.5 million for the second quarter of 2025, a significant increase compared to the $3.9 million reported during the same period last year. This impressive financial performance highlights the company’s ongoing strategic efforts to expand its loan portfolio while keeping funding costs in check.

Loan Portfolio Growth

As of June 30, 2025, the company’s net loans receivable grew by $108.3 million, representing a 7.5% increase and bringing the total to $1.54 billion. The growth in the loan portfolio was primarily attributed to an uptick in both residential mortgage loans and commercial construction loans, showcasing the company’s commitment to meeting the diverse needs of its clients.

Diverse Deposit Base

Pioneer Bancorp enjoys a diversified deposit base that includes substantial contributions from retail, commercial, and municipal relationships. This varied source of deposits not only strengthens the company’s financial position but also enhances its ability to fund loan growth and deliver value to its stakeholders.

Stock Repurchase Program

During the second quarter, Pioneer Bancorp repurchased 282,836 shares of its common stock at an average price of $11.59 per share. This buyback is part of a program launched in May 2024, which allows the repurchase of up to 5% of the company’s outstanding common stock. Such moves are viewed as positive signals by investors, indicating a strong commitment to shareholder value.

Positive Momentum

The company has experienced continued positive momentum through the quarter, underscored by growth in both net interest income and net interest margin. This growth is a result of Pioneer Bancorp’s strategic focus on customer relationships, which has led to increased client advocacy through committed and engaged employees. The firm recognizes that fostering quality relationships is key to sustaining its success in the financial landscape.

Future Revenue Goals

Looking ahead, Pioneer Bancorp is committed to generating a significant portion of its revenue from noninterest income sources. This forward-thinking approach is designed to create a more balanced revenue stream, ultimately benefiting shareholders while helping to meet the evolving needs of clients, employees, and local communities.

Long-Term Value Focus

Pioneer Bancorp remains dedicated to delivering long-term value for its stockholders. By balancing the demands of various stakeholders with effective financial strategies, the company is positioning itself as a reliable and trustworthy partner in the financial sector. The solid results of Q2 2025 reflect a well-executed plan to enhance profitability while maintaining a strong focus on customer service and community engagement.

Deeper Dive: News & Info About This Topic

Additional Resources

Construction NY News
Author: Construction NY News

NEW YORK STAFF WRITER The NEW YORK STAFF WRITER represents the experienced team at constructionnynews.com, your go-to source for actionable local news and information in New York and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the New York Build Expo, infrastructure breakthroughs, and cutting-edge construction technology showcases. Our coverage extends to key organizations like the Associated General Contractors of New York State and the Building Trades Employers' Association, plus leading businesses in construction and real estate that power the local economy such as Turner Construction Company and CMiC Global. As part of the broader network, including constructioncanews.com, constructiontxnews.com, and constructionflnews.com, we provide comprehensive, credible insights into the dynamic construction landscape across multiple states.

Stay Connected

More Updates

Would You Like To Add Your Business?

WordPress Ads