PBFS

EX-99.1

2 pbfs-20260730xex99d1.htm

EX-99.1

Exhibit 99.1

652 Albany Shaker Road, Albany, NY 12211‌News Release

FOR IMMEDIATE RELEASE:

Pioneer Bancorp, Inc. Reports Second Quarter 2026 Results Net Income of $3.5 Million

Albany, N.Y. – July 30, 2026 – Pioneer Bancorp, Inc. (“Pioneer”) (NASDAQ: PBFS), a leading financial institution in New York’s Capital Region, today reported the results for the three and six months ended June 30, 2026.

Net income for the three months ended June 30, 2026 was $3.5 million, or $0.14 per basic and diluted share, as compared to $6.5 million, or $0.26 per basic and diluted share, for the three months ended June 30, 2025. Net income for the six months ended June 30, 2026 was $8.8 million, or $0.36 per basic and diluted share, as compared to $12.2 million, or $0.49 per basic and diluted share, for the six months ended June 30, 2025.

Highlights

●Net loans receivable of $1.87 billion at June 30, 2026 was up $224.6 million, or 13.6%, from December 31, 2025.

●Deposits of $1.97 billion at June 30, 2026 were up $229.8 million, or 13.2%, from December 31, 2025.

●Net interest income of $22.9 million for the three months ended June 30, 2026 was up $3.3 million, or 16.5%, from the three months ended June 30, 2025.

●Net interest margin of 4.30% for the three months ended June 30, 2026 was up 17 basis points from the three months ended June 30, 2025.

●Recently announced the acquisitions of Targeted Lending Co., LLC (“Targeted Lending”), Reiser Consulting Group, Inc. (“Reiser Consulting Group”), Wyndham Benefits, LLC (“Wyndham Benefits”) and The College Advisor of New York.

Thomas Amell, President and CEO, said, “Our second quarter 2026 financial results reflect the strength of Pioneer’s relationship-based business model focused on creating client advocacy through our highly engaged employees. During the quarter, we experienced positive momentum across our company, highlighted by growth in net interest income and margin, driven by continued loan portfolio expansion, growth in our diversified deposit base, and prudent management of funding costs. The benefits of this growth were partially offset by certain elevated expenses as compared to the prior year period. A significant milestone during the quarter was the successful completion of the acquisitions of Targeted Lending, Reiser Consulting Group, and Wyndham Benefits. Together with our recent acquisition of The College Advisor of New York, these additions further advance our ‘More Than a Bank’ strategy by expanding our capabilities, diversifying revenue streams, and strengthening the value we deliver to clients. Looking ahead, we remain focused on delivering long-term value for our stockholders, customers, and employees by investing in initiatives that strengthen employee engagement, elevate client experience, and support community development, while pursuing strong financial performance. ”

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Total assets were $2.36 billion at June 30, 2026, primarily consisting of $1.87 billion of net loans receivable, $200.9 million of securities available for sale and $94.6 million of cash and cash equivalents. Deposits totaled $1.97 billion at June 30, 2026 and the deposit base was well diversified across customer segments, consisting of approximately 55.3% retail, 17.7% commercial and 27.0% municipal customer relationships. Estimated uninsured deposits, net of affiliate deposits and collateralized deposits, represented 13.4% of total deposits at June 30, 2026. Total shareholders’ equity was $328.3 million at June 30, 2026.

Recent Acquisitions

On April 24, 2026, Pioneer completed the acquisition of Targeted Lending, an independent equipment financing company with approximately $120 million of loans on its balance sheet. Targeted Lending, based in Williamsville, NY, operates as Pioneer’s newly formed Specialty Financing division, expanding our commercial lending capabilities and extending our reach into nationwide equipment finance markets. Targeted Lending through its originator-centric equipment finance platform provides financing solutions for essential, income-producing equipment, offering loans to small and mid-sized businesses across diverse industries. The all-cash transaction is valued at approximately $140 million in enterprise value, subject to potential adjustments for performance-based earn-out over a three-year period.

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On April 20, 2026, Pioneer completed the acquisitions of Reiser Consulting Group of Albany, NY and Wyndham Benefits of Ballston Spa, NY. The acquisitions are expected to significantly increase the size of our Employee Benefits division and are expected to strengthen our ability to deliver expanded services and product offerings for both current and prospective clients.

On July 16, 2026, Pioneer completed the acquisition of The College Advisor of New York, a specialized firm that helps families navigate the college search and admissions process with personalized guidance, hands on support, and assistance iden

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Pioneer Bancorp, Inc./MD_January 30, 2026 0001769663falsePioneer Bancorp, Inc./MD00017696632026-01-302026-01-30

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

​

FORM 8-K

​

CURRENT REPORT

​ PURSUANT TO SECTION 13 or 15(D) OF

THE SECURITIES EXCHANGE ACT OF 1934

​

​ Date of Report (Date of earliest event reported): January 30, 2026

​ Pioneer Bancorp, Inc. (Exact Name of Registrant as Specified in Charter)

​ ​ ​ ​ ​

Maryland ​ ​ ​ 001-38991 ​ ​ ​ 83-4274253

(State or other jurisdiction of incorporation) ​ (Commission File Number) ​ (I.R.S. Employer Identification No.)

​ ​

​ ​ ​ ​ ​

652 Albany Shaker Road, Albany New York ​ 12211

(Address of principal executive offices) ​ (Zip Code)

​ ​ ​ ​ ​

Registrant’s telephone number, including area code: (518) 730-3025 ​

​ ​ ​

​ ​ Not Applicable ​ ​

(Former name or former address, if changed since last report)

​ ​ ​ ​ ​

​ Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below): ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol Name of each exchange on which registered

Common Stock, par value $0.01

PBFS

The Nasdaq Stock Market, LLC

​ ​Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

​ Item 2.02 – Results of Operations and Financial Condition On January 30, 2026, Pioneer Bancorp, Inc. issued an earnings release announcing its financial results at or for the three months and year ended December 31, 2025. A copy of the earnings release is included as Exhibit 99.1 to this report. The information in the preceding paragraph, as well as Exhibit 99.1 referenced therein, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that Section, and shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act. Item 9.01 – Financial Statements and Exhibits

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Exhibit No. ​ Description

​ ​ ​

99.1 ​ Earnings Release of Pioneer Bancorp, Inc. dated January 30, 2026.

104 ​ Cover Page Interactive Data File (formatted as inline XBRL).

​ ​

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

PIONEER BANCORP, INC.

(registrant) ​

​

​

January 30, 2026 ​ /s/ Patrick J. Hughes

​ ​ Patrick J. Hughes

​ ​ Executive Vice President and Chief Financial Officer

​ ​ ​

2 ​