# Pioneer Bancorp, Inc./MD (PBFS) — capital_raise [completed]
Source: SEC API (secapi.ai) · situation sit_4744dee569596ac46cfc · retrieved 2026-08-14T01:24:47.644Z

## Overview
Pioneer Bancorp, Inc. is a Maryland-incorporated savings institution that operates through its subsidiary Pioneer Bank, National Association, providing banking services including loans, deposits, and wealth management.

Pioneer Bancorp, Inc., through its subsidiary Pioneer Bank, National Association and sub-subsidiary Targeted Lending Holdings, LLC, completed the acquisition of 100% of Targeted Lending Co., LLC on April 24, 2026, in an all-cash transaction. The total consideration transferred was approximately $124.4 million, consisting of $122.8 million in cash paid and $1.6 million in contingent consideration. Targeted Lending is a Delaware limited liability company that offers financing for essential equipment to businesses across the United States. The acquisition was initially reported as not significant under SEC rules but was later determined to be significant, requiring this amended 8-K filing to include audited financial statements and pro forma financial information.

## Terms
- Counterparty: Targeted Lending Co., LLC · Deal value: $124.4M · Consideration: cash · Stake: 100%

## Key dates
- Completed 2026-04-24

## Timeline
- 2026-08-10 · 8-K/A (0001104659-26-093399): 8-K/A - Pioneer Bancorp, Inc./MD — *Pioneer Bancorp, Inc. is a Maryland-incorporated savings institution that operates through its subsidiary Pioneer Bank, National Association, providing banking services including loans, deposits, and wealth management.* Pioneer Bancorp, Inc., through its subsidiary Pioneer Bank, National Association and sub-subsidiary Targeted Lending Holdings, LLC, completed the acquisition of 100% of Targeted Lending Co., LLC on April 24, 2026, in an all-cash transaction. The total consideration transferred was approximately $124.4 million, consisting of $122.8 million in cash paid and $1.6 million in contingent consideration. Targeted Lending is a Delaware limited liability company that offers financing for essential equipment to businesses across the United States. The acquisition was initially reported as not significant under SEC rules but was later determined to be significant, requiring this amended 8-K filing to include audited financial statements and pro forma financial information.
  https://www.sec.gov/Archives/edgar/data/1769663/0001104659-26-093399.txt

## Citations
- 0001104659-26-093399 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000110465926093399