Pioneer Bankshares, Inc. Announces Year-To-Date Earnings Through September 2014

STANLEY, Va., Oct. 28, 2014 /PRNewswire/ -- Pioneer Bankshares, Inc., (OTC Bulletin Board: PNBI) parent company of Pioneer Bank, reported consolidated year-to-date net earnings of $1.5 million as of September 30, 2014.  This level of earnings is comparable to the previous year's earnings for the nine month reporting period ended September 30, 2013.

The Company has had net asset growth of $3.1 million during the first nine months of 2014.   The Bank has increased its core deposit totals by approximately $7.9 million or 5.86% through September 2014, and has also maintained a stable loan portfolio during this same time period.  

The Company's consolidated capital as of September 30, 2014 was $22.9 million and the institution remains in a well capitalized position under regulatory guidelines. The Company's book value as of September 30, 2014 was $23.96 per share, as compared to a book value of $22.97 per share as of December 31, 2013. 

Pioneer Bankshares, Inc. has increased its year-to-date dividend payout to shareholders during 2014 by 2.00%, with the total payout through September 30, 2014 being $0.51 per share. The dividend payout for 2014 represents an annualized investment return of approximately 3.47% based on current market values. 

Pioneer Bankshares, Inc. is a one-bank holding company headquartered in Page County, Virginia.  The Company's main branch and corporate office are located in Stanley, Virginia, with other branch locations in Shenandoah, Luray, Harrisonburg, Stanardsville, Ruckersville, and Charlottesville, Virginia. The Bank also operates a small finance company known as Valley Finance Services, a Division of Pioneer Bank, which specializes in consumer and auto lending.

SOURCE Pioneer Bankshares, Inc.

Related Links

http://www.pioneerbks.com