CORRECTED-Pioneer Bancorp's Q4 net income rises 12% yr/yr
Overview
New York financial institution's Q4 net income rises 12% yr/yr
Net interest income for Q4 up 15.3% yr/yr
Company launched broker-dealer subsidiary, Pioneer Capital Markets
Outlook
Pioneer Bancorp launches broker-dealer subsidiary to diversify products and increase noninterest income
Result Drivers
NET INTEREST INCOME - Increase driven by higher average yields on interest-earning assets and growth in average asset balances
ACQUISITION IMPACT - Acquisition of Brown Financial Management Group expanded services and customer base
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Net Interest Income |
| $20.26 mln |
|
Q4 Loan Loss Provision |
| $560,000 |
|
Q4 Net Interest Margin |
| 4.10% |
|
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