Pioneer Bankshares Inc. Reports Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2012
July 26, 2012 at 04:51 pm
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Pioneer Bankshares Inc. reported unaudited consolidated earnings results for the six months ended June 30, 2012. For the quarter, the company reported net income of $1,092,000 or $1.05 per basic and diluted share compared to $623,000 or $0.60 per basic and diluted share same period a year ago. Total interest and dividend income was $4,740,000 compared to $4,611,000 a year ago. Net interest income was $4,110,000 compared to $3,867,000 a year ago. Net interest income after provision for loan losses was $3,852,000 compared to $3,135,000 a year ago. Income before income taxes was $1,606,000 compared to $910,000 a year ago.
Pioneer Bankshares, Inc. is the one-bank holding company of Pioneer Bank, Inc. (the Bank). The Bank is engaged in the general commercial banking business, primarily serving the counties of Page, Greene, Rockingham, and Albemarle, Virginia. The Bank offers a full range of banking and related financial services focused primarily towards serving individual consumers, small to medium size commercial businesses, and the professional community. The Bank provides individual consumers, professionals and small and medium-sized commercial businesses in its market area with responsive and technologically advanced banking services. The Bank operates a small finance company known as Valley Finance Services, a Division of Pioneer Bank, which specializes in consumer and dealer auto lending. The Bank strives to serve the banking needs of its customers while developing personal, hometown relationships. The Bank also operates a small Business Banking Center in Harrisonburg, VA.
PIONEER BANKSHARES, INC. 
