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.
