Net interest income climbed from $17.2M in 4Q24 to $23.6M in 1Q27, yet the NIM held at roughly 0.9% and the efficiency ratio swung from 36.4% to 95.2%, indicating unstable operating leverage.
Pioneer Bancorp, Inc. (PBFS) annual income statement — 10-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Jun'25 | Jun'24 | Jun'23 | Jun'22 | Jun'21 | Jun'20 | Jun'19 | Jun'18 | Jun'17 |
|---|
| Net Interest Income | 82.56M | 79.15M | 38.69M | 66.51M | 65.54M | 42.38M | 41.82M | 48.79M | 49.68M | 43.3M | 35.21M |
| NII Growth % | 17.12% | 104.56% | -41.83% | 1.48% | 54.66% | 1.34% | -14.29% | -1.79% | 14.73% | 22.98% | - |
| Net Interest Margin % | 3.18% | 3.68% | 1.85% | 3.51% | 3.53% | 2.16% | 2.33% | 3.2% | 3.38% | 3.37% | 3.1% |
| Interest Income | 114.93M | 109.53M | 52.85M | 88.32M | 71.03M | 43.84M | 43.93M | 53.52M | 54.16M | 46.49M | 37.62M |
| Interest Expense | 32.37M | 30.38M | 14.16M | 21.8M | 5.49M | 1.46M | 2.11M | 4.73M | 4.48M | 3.19M | 2.41M |
| Loan Loss Provision | 4.23M | 3.69M | 2.35M | 2.7M | 0 | -550K | 4.05M | 6.79M | 18.15M | 1.97M | 2.4M |
| Non-Interest Income | 27.02M | 17.14M | 35.26M | 10.38M | 14.15M | 14.07M | 15.75M | 15.68M | 14.41M | 12.8M | 10.9M |
| Non-Interest Income % | 24.66% | 17.8% | 47.68% | 13.5% | 17.75% | 24.93% | 27.36% | 24.32% | 22.48% | 22.82% | 23.63% |
| Total Net Revenue | 109.58M | 96.29M | 73.95M | 76.89M | 79.69M | 56.45M | 57.57M | 64.47M | 64.09M | 56.1M | 46.11M |
| Revenue Growth % | - | 30.2% | -3.82% | -3.51% | 41.16% | -1.94% | -10.71% | 0.6% | 14.23% | 21.68% | - |
| Non-Interest Expense | 76.22M | 66.1M | 55.26M | 54.78M | 51.83M | 43.66M | 50.86M | 51.69M | 37.89M | 36.33M | 35.37M |
| Efficiency Ratio | 69.56% | 68.65% | 74.72% | 71.25% | 65.05% | 77.35% | 88.34% | 80.17% | 59.12% | 64.75% | 76.7% |
| Operating Income | 20.11M | 26.49M | 32.86M | 19.41M | 27.86M | 13.34M | 2.66M | 6M | 8.05M | 17.81M | 8.35M |
| Operating Margin % | 18.36% | 27.51% | 44.43% | 25.24% | 34.95% | 23.63% | 4.62% | 9.3% | 12.56% | 31.74% | 18.1% |
| Operating Income Growth % | - | -19.38% | 69.29% | -30.32% | 108.84% | 401.43% | -55.63% | -25.49% | -54.82% | 113.38% | - |
| Pretax Income | 15.88M | 26.49M | 24.82M | 19.41M | 27.86M | 13.34M | 2.66M | 6M | 8.05M | 17.81M | 8.35M |
| Pretax Margin % | 14.5% | 27.51% | 33.56% | 25.24% | 34.95% | 23.63% | 4.62% | 9.3% | 12.56% | 31.74% | 18.1% |
| Income Tax | 3.28M | 6.2M | 5.62M | 4.15M | 5.91M | 3.06M | 1.58M | 797K | 737K | 6.31M | 2.71M |
| Effective Tax Rate % | 20.66% | 23.41% | 22.65% | 21.38% | 21.21% | 22.93% | 59.51% | 13.29% | 9.16% | 35.43% | 32.53% |
| Net Income | 12.6M | 20.29M | 19.2M | 15.26M | 21.95M | 10.28M | 1.08M | 5.2M | 7.31M | 11.5M | 5.63M |
| Net Margin % | 11.5% | 21.07% | 25.96% | 19.85% | 27.54% | 18.21% | 1.87% | 8.06% | 11.4% | 20.5% | 12.21% |
| Net Income Growth % | - | 5.66% | 25.82% | -30.47% | 113.52% | 854.41% | -79.28% | -28.88% | -36.44% | 104.21% | - |
| Net Income (Continuing) | 12.6M | 20.29M | 19.2M | 15.26M | 21.95M | 10.28M | 1.08M | 5.2M | 7.31M | 11.5M | 5.63M |
| EPS (Diluted) | - | 0.83 | 0.76 | 0.61 | 0.87 | 0.41 | 0.04 | 0.21 | 0.65 | 1.03 | 0.50 |
| EPS Growth % | - | 9.21% | 24.59% | -29.89% | 112.2% | 853.49% | -79.52% | -67.69% | -36.89% | 106% | - |
| EPS (Basic) | - | 0.83 | 0.76 | 0.61 | 0.87 | 0.41 | 0.04 | 0.21 | 0.65 | 1.03 | 0.50 |
| Diluted Shares Outstanding | 24.34M | 24.57M | 25.1M | 25.22M | 25.17M | 25.13M | 25.07M | 25.01M | 11.17M | 11.17M | 11.17M |
Quick answers to the most common questions about buying PBFS stock.
For fiscal year 2026, Pioneer Bancorp, Inc. (PBFS) reported total revenue of $96.3M. This represents a 108.8% increase compared to $46.1M in 2017.
Pioneer Bancorp, Inc. (PBFS) is profitable, generating $20.3M in net income for the fiscal year ending 2026 with a net profit margin of 21.1%.
Pioneer Bancorp, Inc. (PBFS) reported an operating income of $26.5M, resulting in an operating profit margin of 27.5%. This margin reflects the operational efficiency of the business before interest and taxes.
Pioneer Bancorp, Inc. (PBFS) generated $92.6M in gross profit for the year, representing a gross profit margin of 96.2%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Thin NIM compression risk
Metrics are mathematically derived from official filings.
NII Recovery Masks Volatile Quarterly Base
Based on reported figures, PBFS net interest income rose from $17.2M in 4Q24 to $23.6M in 1Q27, though the series is uneven with a -8.5% sequential decline in 4Q26 that warrants monitoring of deposit cost dynamics.
The quarterly NII path suggests loan growth and asset repricing have offset funding cost pressure over the period, with the 16.9% year-over-year gain in the latest quarter being the most favorable print in the series. The -8.5% contraction in 4Q26 appears consistent with deposit betas catching up to asset yields, which would be a reasonable explanation but cannot be confirmed from the data provided. Investors should monitor whether the latest quarter represents a durable step-up or a single-period spike driven by timing.
NIM Stuck Near Nine Basis Points
As reported in financial statements, PBFS net interest margin has held in a narrow 0.8% to 0.9% band across the ten quarters, leaving little room for error if funding costs reprice faster than loan yields.
A margin that barely moves across a full rate cycle may indicate a balance sheet with limited sensitivity in either direction, which can be stabilizing but also caps earnings expansion. The compressed 0.8% print in 4Q26 and 1Q27 readings near 0.9% suggest the spread is thin relative to the bank's cost base. Peer positioning cannot be fully assessed from the supplied margin data alone, so the comparison warrants further investigation.
Efficiency Ratio Swings Indicate Operating Strain
According to recent SEC filings, PBFS efficiency ratio ranged from 36.4% in 4Q26 to 95.2% in 1Q27, a spread large enough to suggest that non-interest expense is not scaling predictably against revenue.
Efficiency ratios this volatile typically reflect lumpy fee or one-time items rather than a stable cost structure, and the 95.2% reading in the latest quarter implies that most revenue was consumed by operating costs. The 4Q26 result, by contrast, suggests strong operating leverage in a single period. Without a clear breakdown of non-interest expense, investors should treat the trend as directionally unclear rather than improving.
Provision Volatility Tracks Credit Cycle Uncertainty
Based on PBFS's reported figures, provision expense moved from a $870K benefit in 1Q25 to a $1.6M charge in 4Q26, a swing that suggests management has been adjusting reserves in response to changing credit conditions.
Two consecutive quarters near $1.6M of provision alongside a stable NII base imply that credit costs are now absorbing a meaningful share of pre-provision earnings. The reversal from a benefit to repeated charges may reflect either deteriorating loan quality or a more conservative reserve posture, and the supplied data cannot distinguish between these. Monitoring net charge-offs and reserve coverage would clarify which interpretation is more likely.
Fee Income Dependence Reflects Lumpy Mix
As reported in financial statements, PBFS non-interest income ranged from 14.4% to 19.9% of total revenue in most quarters, with a 41.7% spike in 4Q26 that appears to reflect a non-recurring or seasonal item.
A stable fee share in most quarters suggests a reasonably diversified revenue base, but the 4Q26 outlier indicates that a portion of fee income may not be recurring. Non-interest income of $12.9M in that quarter versus $3.8M to $5.5M in adjacent periods warrants further investigation into its composition. Investors should not extrapolate the 4Q26 level without evidence that the driver is repeatable.
Earnings Base Vulnerable to Single-Quarter Swings
Based on reported figures, PBFS net income has ranged from $85K to $6.5M across recent quarters, a dispersion that may indicate the reported earnings power is more fragile than the trailing averages suggest.
The 1Q27 net income of $85K against $39.2M of revenue implies that nearly all top-line gains were absorbed by costs or provisions, which challenges any thesis built on the strength of the most recent revenue print. Earnings per share declined 98.1% year over year in that quarter, a move the supplied data cannot fully explain. A bear case would argue that the bank's profitability is more cyclical and less durable than its balance sheet stability implies.