Pioneer Bancorp: The holding company for Pioneer...

Pioneer Bancorp: The holding company for Pioneer Bank in Fullerton, posted net income of $513,000 for the first quarter, a 28% drop from $709,000 earned in last year’s first quarter. The drop in earnings was attributed to an increase in reserves for possible loan losses and a lower interest rate. Quarterly revenue increased 21% to $4.85 million this year from $4 million last year. At the end of March, the company’s assets were $172.7 million, a 30% increase over $132.9 million in assets a year earlier.