Pioneer Bancorp Q3 profit falls to $85,000 on $6.2 million litigation expense
Pioneer Bancorp reported third quarter 2026 net income of $85,000, or about $0.00 per share, down from $4.3 million, or $0.18 per share, a year earlier. The drop reflects a $6.2 million litigation-related expense tied to agreements in principle to resolve claims by Southwestern Payroll, Granite Solutions and NatPay, while net interest income rose 16.9% to $23.6 million.
Key points
- Q3 2026 net income was $85,000 versus $4.3 million in Q3 2025; nine-month net income was $8.9 million, or $0.36 per diluted share, versus $16.5 million, or $0.67, a year earlier
- Litigation-related expense of $6.2 million was recognized in the quarter; agreements in principle were reached in October 2026, subject to definitive settlement agreements
- Net interest income rose $3.4 million, or 16.9%, to $23.6 million, and net interest margin was 4.26%, up 10 basis points
- Noninterest expense rose 57.4% to $27.7 million; total deposits reached $2.13 billion, up 22.5% from December 31, 2025
The filing
Written by AI on Nov 9, 2026, 11:43 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 30, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.