Brief: Pioneer Bancorp - Became Aware Of Potentially Fraudulent Activity Related To Transactions During Co's Q1 2020
11/09/2019 21:35
Sept 11 (Reuters) - Pioneer Bancorp Inc PBFS.O :
* PIONEER BANCORP INC - RECENTLY BECAME AWARE OF POTENTIALLY
FRAUDULENT ACTIVITY ASSOCIATED WITH TRANSACTIONS CONDUCTED IN
COMPANY'S Q1 2020
* PIONEER BANCORP INC - BECAME AWARE OF POTENTIALLY
FRAUDULENT
ACTIVITY BY A BUSINESS CUSTOMER OF PIONEER BANK
* PIONEER BANCORP INC - CONTINUES TO INVESTIGATE MATTER TO
DETERMINE POTENTIAL EXPOSURE TO COMPANY
* PIONEER BANCORP INC - TRANSACTIONS RELATE BOTH TO DEPOSIT
AND
LENDING RELATIONSHIPS WITH SAME CUSTOMER AND RELATED ENTITIES
* PIONEER BANCORP INC - POTENTIAL EXPOSURE INCLUDES
CUSTOMER'S
$16.0 MILLION COMMERCIAL LOAN SECURED BY BUSINESS ASSETS AND
$19.0 MILLION OF DEPOSIT ACTIVITY
* PIONEER BANCORP INC - CO HAS SUFFICIENT CAPITAL TO ABSORB
POTENTIAL LOSS AND EXPECTS TO REMAIN WELL-CAPITALIZED
* PIONEER BANCORP INC - COMPANY BELIEVES THIS INCIDENT IS AN
ISOLATED OCCURRENCE INVOLVING A CUSTOMER AND RELATED ENTITIES
Source text for Eikon: https://bit.ly/2lJE1lC
Further company coverage: PBFS.O
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