Common Stock, par value $0.01
- Symbol
- PBFS
- Exchange
- NASDAQ
- Classification
- COMMON
- Status
- Current
Current Report · Items 9.01 · 8-K/A
Pioneer Bancorp, Inc.
PBFSNASDAQEQUITYCurrent
Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (a) Financial statements of businesses acquired. The audited financial statements of Targeted Lending as of and for the year ended December 31, 2025 and 2024 and the related notes thereto are filed herewith as Exhibit 99.1 and incorporated by reference into this Item 9.01(a).…
Company context
Pioneer is a financial holding company with approximately $2.6 billion in consolidated assets that provides diversified financial services through its subsidiaries. Pioneer’s subsidiary, Pioneer Bank, National Association and its subsidiaries, with 22 offices in the Capital Region of New York State, offers a broad array of banking, insurance, employee benefit, human resources consulting, college advising, and wealth management services to individuals, businesses, and municipalities. Pioneer’s subsidiary, Targeted Lending Co., LLC, through its originator-centric equipment finance platform provides financing solutions nationwide for essential income-producing equipment to small and mid-sized businesses across diverse industries. Pioneer’s subsidiary, Pioneer Capital Markets, Inc., is a FINRA-registered broker-dealer focused on municipal bond trading. For more information on Pioneer, please visit www.pioneerny.com.
Current securities
Recent company filings
Registered securities in this filing
Pioneer Bancorp, Inc./MD · 8-K/A · Filed 2026-08-10
Disclosure sections
Item 9.01Item 9.01 - Financial Statements and Exhibits
Item 9.01
Financial Statements and Exhibits.
(a) Financial statements of businesses acquired.
The audited financial statements of Targeted Lending as of and for the year ended December 31, 2025 and 2024 and the related notes thereto are filed herewith as Exhibit 99.1 and incorporated by reference into this Item 9.01(a). The consent of Chiampou Travis Besaw & Kershner LLP, Targeted Lending’s independent auditor as of and for the year ended December 31, 2025, is filed herewith as Exhibit 23.1. The consent of The ZLC Group, CPAs, LLC, Targeted Lending’s independent auditor as of and for the year ended December 31, 2024, is filed herewith as Exhibit 23.2.
(b) Pro forma financial information.
The unaudited pro forma condensed combined balance sheet of the Company as of December 31, 2025 and the unaudited pro forma condensed combined statements of operations of the Company for the year ended December 31, 2025, and the related notes thereto, are filed herewith as Exhibit 99.2 and incorporated by reference into this Item 9.01(b).
(d) Exhibits.
23.1 Consent of Chiampou Travis Besaw & Kershner LLP, Targeted Lending Co., LLC’s independent auditor in connection with its audited financial statements as of and for the year ended December 31, 2025.
23.2 Consent of The ZLC Group, CPAs, LLC, Targeted Lending Co., LLC’s independent auditor in connection with its audited financial statements as of and for the year ended December 31, 2024.
99.1 Audited financial statements of Targeted Lending Co., LLC as of and for the year ended December 31, 2025 and 2024, and the related notes thereto.
99.2 Unaudited pro forma condensed combined balance sheet of Pioneer Bancorp, Inc. as of December 31, 2025, and unaudited pro forma condensed combined statements of operations of Pioneer Bancorp, Inc. for the year ended December 31, 2025, and the related notes thereto.
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Filed exhibits (2)
Exhibit 99.1 TARGETED LENDING CO., LLC Financial Statements For the Years Ended December 31, 2025 and 2024 with Independent Auditors’ Reports ────────────────────────────────────── TARGETED LENDING CO., LLC TABLE OF CONTENTS Page INDEPENDENT AUDITORS’ REPORTS 1 – 4 FINANCIAL STATEMENTS: Balance Sheets 5 Statements of Income 6 Statements of Changes in Members’ Capital 7 Statements of Cash Flows 8 Notes to Financial Statements 9 – 19 INDEPENDENT AUDITORS’ REPORT To the Members of Targeted Lending Co., LLC Buffalo, New York Opinion We have audited the financial statements of Targeted Lending Co., LLC, which comprise the balance sheet as of December 31, 2025, and the related statement of income, changes in members’ capital, and cash flows for the year then ended, and the related notes to the financial statements. In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of Targeted Lending Co., LLC as of December 31, 2025, and the results of their operations and their cash flows for the year then ended in accordance with accounting principles generally accepted in the Un…
Open exhibit ↗UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL DATA Introduction On April 24, 2026, Pioneer Bank, National Association (“Pioneer”, a wholly owned subsidiary of Pioneer Bancorp, Inc. or the “Company”), through its wholly owned subsidiary, Targeted Lending Holdings, LLC (the “Purchaser”), completed the acquisition of 100% of the issued and outstanding membership interests (the “Purchased Interests”) of Targeted Lending Co., LLC, a Delaware limited liability company (“Targeted Lending”), pursuant to an Equity Purchase Agreement, dated as of April 24, 2026 (the “Purchase Agreement”), by and among the Purchaser and the holders of such membership interests (collectively, the “Sellers”, and Brian Gallo, solely in his capacity as the representative of the Sellers, the “Seller Representative”). The following unaudited pro forma condensed combined financial data is based on the separate historical financial statements of the Company and Targeted Lending after giving effect to the acquisition. The unaudited pro forma condensed combined financial data has been prepared in accordance with Article 11 of Regulation S-X of the Securities and Exchange Commission (the “SEC”) and should be read …
Open exhibit ↗