Pioneer Bancorp, Inc.

Condensed Statements of Condition

(in thousands)

​

​

As of December 31,

​

​

2025

​

2024

Assets

​

​

​

​

​

​

Cash and cash equivalents

​

$

30,759

​

$

44,052

Investment in subsidiary

​

​

283,511

​

​

250,267

Loan receivable

​

​

10,143

​

​

10,596

Other assets

​

​

21

​

​

6

Total assets

​

$

324,434

​

$

304,921

​

​

​

​

​

​

​

Liabilities and Shareholders’ Equity

​

​

​

​

​

​

Total liabilities

​

$

573

​

$

368

 Total shareholders’ equity

​

​

323,861

​

​

304,553

 Total liabilities and shareholders’ equity

​

$

324,434

​

$

304,921

Pioneer Bancorp, Inc.

Condensed Statements of Operations

(in thousands)

​

​

For the

​

For the

​

For the

​

​

Year Ended

​

Six Months Ended

​

Fiscal Year Ended

​

​

December 31,

​

December 31,

​

June 30,

​

  ​ ​ ​

2025

​

2024

  ​ ​ ​

2023

  ​ ​ ​

2024

Income

​

​

​

​

​

​

​

​

​

​

​

​

Interest-earning assets

​

$

1,943

​

$

941

​

$

444

​

$

930

Total income

​

​

1,943

​

​

941

​

​

444

​

​

930

​

​

​

​

​

​

​

​

​

​

​

​

​

Operating Expenses

​

​

​

​

​

​

​

​

​

​

​

​

Other

​

​

216

​

​

130

​

​

116

​

​

192

Total operating expenses

​

​

216

​

​

130

​

​

116

​

​

192

​

​

​

​

​

​

​

​

​

​

​

​

​

Income before tax expense and equity in undistributed net income of subsidiary

​

​

1,727

​

​

811

​

​

328

​

​

738

Income tax expense

​

​

461

​

​

217

​

​

88

​

​

198

Income before equity in undistributed net income of subsidiary

​

​

1,266

​

​

594

​

​

240

​

​

540

Equity in undistributed net income of subsidiary

​

​

19,021

​

​

9,006

​

​

6,371

​

​

14,720

Net income

​

$

20,287

​

$

9,600

​

$

6,611

​

$

15,260

Pioneer Bancorp, Inc.

Condensed Statements of Cash Flow

(in thousands)

​

​

For the

​

For the

​

For the

​

​

Calendar Year Ended

​

Six Months Ended

​

Fiscal Year Ended

​

​

December 31,

​

December 31,

​

June 30,

​

  ​ ​ ​

2025

​

2024

  ​ ​ ​

2023

  ​ ​ ​

2024

Cash flow from operating activities:

​

​

​

​

​

​

​

​

​

​

​

​

Net income

​

$

20,287

​

$

9,600

​

$

6,611

​

$

15,260

​

​

​

​

​

​

​

​

​

​

​

​

​

Adjustments to reconcile net income to cash provided by operating activities:

​

​

​

​

​

​

​

​

​

​

​

​

Undistributed income of subsidiary

​

​

(19,021)

​

​

(9,006)

​

​

(6,371)

​

​

(14,720)

Net (increase) decrease in other assets

​

​

(15)

​

​

532

​

​

367

​

​

200

Net increase in other liabilities

​

​

205

​

​

357

​

​

184

​

​

11

Net cash provided by operating activities

​

​

1,456

​

​

1,483

​

​

791

​

​

751

​

​

​

​

​

​

​

​

​

​

​

​

​

Cash flow from investing activities:

​

​

​

​

​

​

​

​

​

​

​

​

Decrease in loan receivable

​

​

453

​

​

387

​

​

393

​

​

393

Investment in subsidiaries

​

​

(5,050)

​

​

—

​

​

—

​

​

—

Net cash provided by investing activities

​

​

(4,597)

​

​

387

​

​

393

​

​

393

​

​

​

​

​

​

​

​

​

​

​

​

​

Cash flow from financing activities:

​

​

​

​

​

​

​

​

​

​

​

​

Repurchase of common stock

​

​

(11,294)

​

​

(3,146)

​

​

—

​

​

(1,075)

Proceeds from exercise of options, net

​

​

76

​

​

—

​

​

—

​

​

—

Purchase of employee restricted shares to fund statutory tax withholding

​

​

(145)

​

​

—

​

​

—

​

​

—

Other

​

​

1,211

​

​

629

​

​

(113)

​

​

(55)

 Net cash used in financing activities

​

​

(10,152)

​

​

(2,517)

​

​

(113)

​

​

(1,130)

Net (decrease) increase in cash and cash equivalents

​

​

(13,293)

​

​

(647)

​

​

1,071

​

​

14

Cash and cash equivalents at beginning of year

​

​

44,052

​

​

44,699

​

​

44,685

​

​

44,685

Cash and cash equivalents at end of year

​

$

30,759

​

$

44,052

​

$

45,756

​

$

44,699