Pioneer Bancorp, Inc./MD Reports Net Income of $21.9 Million for the Year Ended June 30, 2023
Annual Revenue Reaches $71 Million
Pioneer Bancorp, Inc./MD [PBFS], a leading financial institution, has announced its financial results for the year ended June 30, 2023. The company reported a net income of $21.9 million, reflecting a significant improvement compared to the previous year. Furthermore, the annual revenue for the period reached $71 million, demonstrating strong performance and growth for Pioneer Bancorp, Inc./MD.
Financial Performance
Pioneer Bancorp, Inc./MD exhibited excellent financial performance throughout the year. The company generated a substantial net interest income of $65.5 million, representing a remarkable increase from the previous year's figure of $42.4 million. This substantial improvement in net interest income can be attributed to the significant growth in interest and dividend income from loans, securities, and interest-earning deposits.
