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PIONEER BANCORP REPORTS FIRST QUARTER 1992 RESULTS

 PIONEER BANCORP REPORTS FIRST QUARTER 1992 RESULTS
 FULLERTON, Calif., May 5 /PRNewswire/ -- Pioneer Bancorp, the


holding company for Pioneer Bank, reported that total assets for the quarter ending March 31, 1992, were $223,337,000, a 10 percent increase over the $203,400,000 reported at the end of the first quarter 1991. Total deposits rose 10 percent to $207,162,000, compared to $187,610,000 the previous year, while total net loans grew 3 percent to $166,058,000 from $161,262,000.
 Consolidated net income for the quarter was $383,000, a 32 percent decrease from the first quarter of 1991. Revenue totaled $4,879,000 for the quarter, a decrease of 15 percent from $5,726,000 for the previous year's first quarter. The decreases in revenues and net income were the result of lower interest rates and margins on earning assets stemming from the current state of the economy.
 -0- 5/5/92
 /CONTACT: Richard B. Boyle, president and CEO of Pioneer Bancorp, 714-773-0600/ CO: Pioneer Bancorp ST: California IN: FIN SU: ERN


AL-JL -- LA001 -- 6435 05/05/92 10:01 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:May 5, 1992
Words:187
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