UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): December 11, 2025

Pioneer Bancorp, Inc.
(Exact Name of Registrant as Specified in Charter)

Maryland
    
001-38991
  
83-4274253
(State or Other Jurisdiction)
    
(Commission File No.)
  
(I.R.S. Employer
of Incorporation)
    
Identification No.)
   
 
652 Albany Shaker Road, Albany, New York
  
12211
 
(Address of Principal Executive Offices)
  
(Zip Code)


Registrant’s telephone number, including area code: (518) 730-3025

Not Applicable
(Former name or former address, if changed since last report)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class
  
Trading
Symbol(s)
  
Name of each exchange on which registered
Common Stock, par value $0.01
  
PBFS
  
The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 8.01  Other Events
On December 11, 2025, Pioneer Bancorp, Inc. (“Pioneer”), a leading financial institution in New York’s Capital Region, announced the formation and launch of Pioneer Capital Markets, Inc. (“Pioneer Capital Markets”), a wholly owned broker-dealer subsidiary. With an initial focus on proprietary trading of investment-grade municipal bonds, this marks Pioneer’s entry into regulated broker-dealer operations, enhancing Pioneer’s financial services capabilities.
A copy of the press release announcing the launch of Pioneer Capital Markets is included as exhibit 99.1 to this Current Report on Form 8-K.


Item 9.01  Financial Statements and Exhibits

     
Exhibit No.
  
Description
     

104
  
Cover Page Interactive Data File (formatted as inline XBRL).


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.


   
PIONEER BANCORP, INC.
     
     
     
DATE: December 11, 2025
By:  
 /s/ Patrick J. Hughes
   
Patrick J. Hughes
   
Executive Vice President and Chief Financial Officer
     




EXHIBIT 99.1




For Release: Immediate – Thursday, December 11, 2025


Pioneer Announces Launch of FINRA-Registered Broker-Dealer Subsidiary, Pioneer Capital Markets, Inc.

Pioneer expands regulated financial services with a focus on investment-grade municipal bonds

Albany, NY – Pioneer (NASDAQ: PBFS), a leading financial institution in New York’s Capital Region, today announced the formation and launch of Pioneer Capital Markets, Inc. (“Pioneer Capital Markets”), a wholly owned broker-dealer subsidiary. With an initial focus on proprietary trading of investment-grade municipal bonds, this marks Pioneer’s entry into regulated broker-dealer operations, enhancing the Company’s financial services capabilities.  This launch underscores Pioneer’s ongoing strategy of diversifying our products and services to increase non-interest income.

“Building on our More Than a Bank® strategy, Pioneer Capital Markets enhances our core offerings by leveraging proprietary municipal bond trading and interest income to deliver diversified, market-driven revenue streams.” states Thomas Amell, President & CEO of Pioneer.

The new division will be led by Peter Brandel as President and Robert Kursar as Senior Vice President, each bringing more than 30 years of broker-dealer experience, with Gary Galarpe providing support as Chief Compliance Officer.

“Pioneer Capital Markets enables us to apply our decades of experience working in a highly structured, well-regulated space to deliver disciplined, risk-conscious strategies,” said Peter Brandel, President of Pioneer Capital Markets “This business is built on expertise, strong governance, and processes designed to ensure stability.”


Pioneer Capital Markets is registered with Financial Industry Regulatory Authority (FINRA), Securities Investment Protection Corporation (SIPC) and the Securities and Exchange Commission, and is based in North Carolina, leveraging a collaborative environment that allows compliance and operations to work closely together.

Jesse Tomczak, Chief Banking Officer of Pioneer, states, “The strength of Pioneer Capital Markets lies in the deep experience and proven leadership of our team. Their expertise in regulated markets gives us confidence as we expand into this new line of business and continue to build on Pioneer’s diversification strategy.”

Trading activities for Pioneer Capital Markets are expected to begin after January 1, 2026, subject to final regulatory approvals.


About Pioneer
Pioneer Bancorp, Inc. (“Pioneer” or the “Company”) is a financial holding company with more than $2 billion in assets that provides diversified financial services through its subsidiaries. The Company’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, wealth management, insurance, employee benefit, and human resources consulting services to individuals, businesses, and municipalities.  For more information on Pioneer, please visit www.pioneerny.com.  The Company’s subsidiary, Pioneer Capital Markets, Inc., is a FINRA-registered broker-dealer focused on municipal bond trading. For more information, please visit www.capitalmarkets.pioneerny.com.

Member FINRA/SIPC
Not Insured by FDIC or Any Other Government Agency.
Not Bank Guaranteed.
 
May Lose Value.
 

Pioneer Capital Markets, Inc., a wholly owned subsidiary of Pioneer Bancorp, Inc.
Banking products and services are provided by Pioneer Bank, National Association.

Cautionary Statement Concerning Forward-Looking Statements
Certain of the matters discussed in this communication constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are generally identified by use of the words “believe,” “expect,” “intend,” “anticipate,” “estimate,” “project” or similar expressions, or future or conditional verbs, such as “will,” “would,” “should,” “could,” or “may.” Pioneer’s ability to predict results or the actual effect of future plans or strategies is inherently uncertain. No assurance can be given that the future results covered by forward-looking statements will be achieved. These statements are based on the current expectations of our management, and it is important to note that our actual results could be materially different from those projected in such forward-looking statements. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including those discussed in our transition report on Form 10-KT for the six months ended December 31, 2024, under the heading “Risk Factors” and other filings made with the Securities and Exchange Commission (the “SEC”), including our quarterly reports on Form 10-Q. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this communication, unless noted otherwise. Except as required under the federal securities laws and the rules and regulations of the SEC, Pioneer does not undertake any obligation to release publicly any revisions to the forward-looking statements to reflect events or circumstances after the date of this communication or to reflect the occurrence of unanticipated events.

For additional information contact:
Patrick J. Hughes
Executive Vice President and Chief Financial Officer
(518) 730-3025
InvestorRelations@pioneerny.com